- 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
Point by point
ReplyDelete1) 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.
ReplyDeleteThe 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.