Piketty’s dangerous ‘solution’ to inequality

World famous progressive economist, Thomas Piketty, who is extremely influential over politicians like Elizabeth Warren, said in a 2014 TED Talk that the best ways to address the alleged problems of 'income inequality' is to create a "global registry of financial assets" so that there can be "global coordination on wealth taxation."

"It's astounding and note the circularity in his argument," says economist, historian, and author Phil Magness. "Every solution is just reaffirmation of [his] premise. And what it basically means is the complete abolition of any sense of financial privacy, of really any aspect of free and open market exchange."

[johnl]

his only objection to the confiscation of people's assets is that it is "not efficient"

[Nikwunu]

"give us everything you own or else we will start wars" sounds awful. how can they call this justice?

[MrMJpilot]

Yeah. The French are the ones who educated Pol Pot on the subject of equity, and who also don’t see the connection between having the highest minimum wage in the world and the highest unemployment rate amongst young people in the world. The conclusion is don’t listen to the French when it comes to economic issues.

[ritmok]

"International transmission of financial information" Let's be clear on what he wants, that is for my financial information to be transmitted, but not the elites.

[phillipzagotti]

Financial freedom is inextricably linked to personal freedom.
If you think this is bad wait until the government institutes universal income and then uses that to gain compliance.

[VeniVidiVid]

We saw exactly what would happen in that instance with Trudeau‘s response tothe trucker protest in Canada.

[wompa]

Every penny, Eurocent, Ruble, Won, etc., must be accounted for. It always starts as a way to ensure fairness but ends as a means to control everyone.

[EricSmith]

I'd rather have a few greedy people do well than have a government that can stop them.

[feldamar]

Just the WAY piketty talks makes it abundant he doesn't know economic or financial reality. He has fundamentally broken foundations for his knowledge of humans and economies. VERY strong Ivory tower syndrome too on top of that.

[chrismiller]

He has co-opted the positive word "transparency" and given it a very dark meaning.

[warrenb]

Thomas Piketty is a character that George Orwell would have created in his novels if he had known how the future would unfold.

[tharg]

I owned a holiday home in France for 20 years. Just sold it recently and although I loved the climate and environment I finally had enough of the never ending rule making and increasingly invasive authoritarianism. It’s a nanny state and a tax nightmare. I don’t regret leaving.

[DaveGarber]

It sounds like we've already got this. Earlier this year, an IRS agent disclosed to OMG Media that the IRS is constantly monitoring everyone's bank accounts worldwide, and also that the IRS has just begun using AI to analyze this data to catch tax evaders.

[this_epic_name]

That single clip of Piketty is sufficient for me to disregard and dismiss him completely.

[rucker]

Might as well rename TED to WEF at this rate.

[johnpillow]

Obviously not a descendant of Bastiat.

[simonphuket]

This seems innocuous!!!???
Objectivists and Libertarians are really miles apart

[MiscMitz]

Lol. Did a rewind on that vape puff. Wasn't sure I saw that. 😃

[CautionHighWavesAhead-]

What do you expect from someone from France? Piketty is either a puppet or a fool.

[michaellowe]

Lets have more financial transparency. We will start with government. The first step is to decide who goes to jail when they fail an audit.