Sunday 11 May 2014

Quote of the day - on M. Piketty's book



"If one follows Piketty in assuming a normal return on capital of 4 percent for the 21st century, a 10 percent tax on wealth is equivalent to a 250 percent tax on the resulting capital income. Combined with the 80 percent income tax, taxpayers would face effective marginal tax rates of up to 330 percent."

How to screw the world's economy up in one fell swoop! But then we knew that as M. Piketty is an 'advisor' to President Hollande - the man in charge of the train crash that is France's economy.


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