Sam Seder
@TheMajorityReport·2M subscribers·30.1K videos
Republicans Don't Care About Incrementalism, Why Do Democrats?
Posted
December 11, 2017
Views
5,725
Likes
160
Comments
28
Engagement
3.28%
December 11, 2017
5,725
160
28
3.28%
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9:52Now PlayingIn this 'The Michael Brooks Show' clip, (psst, it's because wealthy Democratic donors don't want dramatic progressive policies passed.)
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"homas Piketty's new book, Capital in the 21st Century, painstakingly details the dynamics of wealth and income inequality throughout the last two centuries, and offers a somewhat grim picture of the future of economic inequality. Along the way, Piketty also offers his theory of the cause of exploding executive pay and how we can successfully combat this destructive trend.
Piketty's solution is to jack up taxes on top incomes to essentially confiscatory rates, as high as 80 percent even. Now, raising taxes on the rich in an effort to reduce inequality is a fairly generic idea. But Piketty's reasoning for why such a tax would be successful is much different from what advocates of such a move usually suggest.
The typical line is that increasing taxes on the rich would reduce their take-home pay while providing public revenues that could be used to increase the take-home pay of others. In this view, increasing taxes on top incomes would not reduce what is somewhat misleadingly called "pre-tax" inequality, but it would reduce "post-tax" inequality."*
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