- Supplement wages for low-income workers
- Progressive tax reform
- Make housing cheaper through [zoning] deregulation
- Keep unemployment low to maintain worker bargaining power
- Deregulate copyright and patent law [to eliminate rents]
Piketty's Global Wealth Tax Isn't Happening. Here Are Five Politically Realistic Ideas Instead
Danny Vinik, political reporter at Business Insider
2 comments:
Point by point
1) asking Government to subsidize business
2)It is unclear what he means by that. He ends with " $200,000 and $1 million would pay a slightly higher tax rate. (Those with incomes over $1 million would see a slight cut)" This is hardly progressive taxation as seen in the 1960's
3)Zoning deregulation again is a subsidy to business. A much better way is the LVT
4)Keep unemployment low. His solution Federal Reserve should mandate low unemployment. Hah!
5)Deregulate copyright and patent law - implication - the one with the most power and the most money wins. Since everything will be freely copy-able.
I don't think Piketty's global tax is going to happen in the near future, but I suspect the push for it will emerge as part of a longer term global movement.
The global capital tax needs to be seen in conjunction with Gabriel Zucman's call for a global financial registry and a crackdown on capital flight and wealth shelters.
Part of the issue here is that we live in a globalized capitalist order, and so capitalism-engendered inequality can't be fought in one country alone.
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