Many things are needed to improve prosperity, but draconian taxation is not high on that list
The World Inequality Report 2022, drafted by French economist Thomas Piketty and his colleague, once again highlights high and growing inequality across countries. It calls for draconian taxes on the super-rich to help the poor and middle class.
The authors have long shouted themselves hoarse, warning of apocalypse if inequality keeps rising. But far from turning revolutionary, voters in highly unequal democracies keep electing tax-cutters such as Donald Trump, Emmanuel Macron and Narendra Modi. Left intellectuals are seriously divorced from the public mood.
The authors have long shouted themselves hoarse, warning of apocalypse if inequality keeps rising. But far from turning revolutionary, voters in highly unequal democracies keep electing tax-cutters such as Donald Trump, Emmanuel Macron and Narendra Modi. Left intellectuals are seriously divorced from the public mood.