Why worry about low growth
Reader comment on: Piketty's Diminishing Capital
Submitted by Eugene Patrick Devany (United States), Apr 24, 2014 18:47
The wealth gap today has grown to reflect the distribution just before the Great Depression. It is one thing to examine the large 75% of net wealth held by the top 10% of the population or the dwindling 24% share held by the next 40% (the middle class). The real story is in the 1% of net wealth shared by half the population - a reduction of 70% since 1995 in the U.S. Most of these people can't afford to procriate and we simply don't need any more college educated restaurant staff.
The destriction of marrage and the middle class has given political control to the Democrats.
We can begin to rebuild by replacing the job killing payroll taxes with a VAT to create full employment. An optional 2% net wealth tax for anyone who wants to pay an 8% income tax would put the economy in high gear.
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