French Economist: Billionaires Should Be Taxed Out Of Existence

Billionaires hurt economic growth and should be taxed out of existence, says bestselling French economist

SEPT 12, 2019 | CNBC: A popular French economist says billionaires are harmful to economic growth and would be effectively abolished under his tax plan, according to an interview

EARTH CUSTODIANS: All Monopolies are hazardous and Apex predators… but society worhsips them because people are trained to accept tyranny. Billionaires and their ilks and lobbies deeply corrupt politics and of course monetary policies.

If you wish to understand why they own almost half of the wealth of the planet, look no further! Until people stands up and choose a “resource based economy”, they are here to stay. They embody the flaws created by the ignorance about economics and the fear of freedom.

“Capital and Ideology.” It won’t be published in English until March. But in an interview with the French magazine L’Obs, Piketty called for a graduated wealth tax of 5% on those worth 2 million euros or more and up to 90% on those worth more than 2 billion euros.

No regulations will be forceful enough to oust the Billionaires, simply because lawmakers will never enact laws to do so. However, any theory requiring a government to take action is vain and futile, because we are talking of several headed monster. Let’s not forget that some people have gotten death threats for much less. Power is addictive and they will not step down until we begin to turn our back to their merciless rules.

Piketty added that the notion that billionaires create jobs and boost growth is false… While Piketty’s plans have been popular in academia and the far left, none of his plans has been implemented by politicians. Even France abolished its wealth tax in 2017, saying it discouraged investment.

Billionaires will always invest where labor and natural reources are as cheap as possible. That is why we have borders, so that currencies can be inflated and deflated where needed. We have seen this countless of times.

Yes, “they” are creating many low end jobs and helping wealth transfer from the poor to the rich. But many among the upper middle class depends on their monopoly on labor and value to make a living. So if they were forced out, shocks to the system are guaranteed.

Growth has been halved, inequalities have doubled. It is time to break out of this phase of sacredness of property. To overcome capitalism.”

Yep, he is half way there… once people accept property rights, the rich and the billionaires can indulge themselves into growing their assets ever further. That is where our choice lies because we cannot get it all…

Property rights validating competition and mega predators pillaging the planet … or a gift economy where people can freely access things they need and be dedicated to a circular model of consumption powered by cooperation.

Obviously we can’t continue like this: Americans waste 150,000 tons of food each day – equal to a pound per person (guadianuk 2018), all this to enrich the Billionaires and their pals!

Realistically, if consumers were fully educated, there is simply no profits left to make as the economy would zero out. Saying that such a level of education is impossible to achieve is nonsensical, well that does not make one right to allow this insanity to be perpetuated either…. a fallacy is a fallacy.

So what do we/you choose?



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