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Best Web OpEds    H3'ed 2/18/19

Nobel Prize-Winning Economist Robert Solow: We're Headed for Oligarchy, on powerful families' threat to democracy

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Piketty, Solow says, favors an annual, global progressive tax on wealth, such that the benefits of a growing economy could be more widely felt.

This is a proposal that Solow cheers. But there is one problem:

Piketty writes as if a tax on wealth might sometime soon have political viability in Europe, where there is already some experience with capital levies. I have no opinion about that. On this side of the Atlantic, there would seem to be no serious prospect of such an outcome. We are politically unable to preserve even an estate tax with real bite. If we could, that would be a reasonable place to start, not to mention a more steeply progressive income tax that did not favor income from capital as the current system does. But the built-in tendency for the top to outpace everyone else will not yield to minor patches.

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At www.theatlantic.com

 

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Early in the 2016 Primary campaign, I started a Facebook group: Bernie Sanders: Advice and Strategies to Help Him Win! As the primary season advanced, we shifted the focus to advancing Bernie's legislation in the Senate, particularly the most (more...)
 

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