Capital in the Twenty-First Century

[richwang]

http://www.amazon.com/gp/product/B00I2WNYJW/ref=s9_simh_gw_p351_d22_i3?pf_rd_m=ATVPDKIKX0DER&pf_rd_s=center-5&pf_rd_r=1FY20WSDD236YDKYV2JY&pf_rd_t=101&pf_rd_p=1688200422&pf_rd_i=507846#reader_B00I2WNYJW

[richwang]

Part I: Income and Capital
Part II: The Dynamics of Capital / Income Ratio
Part III: The structure of Inequality
Part IV: Regulating Capital in the Twenty-First Century

[teddybear]

I like this part:

"In the modern era, consumption taxes include value- added taxes as well as taxes on imported goods, drink, gasoline, tobacco, and ser vices. Such taxes have always existed and are often the most hated of all, as well as the heaviest burden on the lower class (one thinks of the salt tax under the Ancien Régime). They are often called “indirect” taxes because they do not depend directly on the income or capital of the individual taxpayer: they are paid indirectly, as part of the selling price of a purchased good. "



http://www.amazon.com/gp/product/B00I2WNYJW/ref=s9_simh_gw_p351_d22_i3?pf_rd_m=ATVPDKIKX0DER&pf_rd_s=center-5&pf_rd_r=1FY20WSDD236YDKYV2JY&pf_rd_t=101&pf_rd_p=1688200422&pf_rd_i=507846#reader_B00I2WNYJW

[teddybear]

Interesting statements in the book:

"It would be wrong, however, to conclude that progressive taxation plays
only a limited role in modern redistribution. First, even if taxation overall is
fairly close to proportional for the majority of the population, the fact that
the highest incomes and largest fortunes are taxed at signifi cantly higher (or
lower) rates can have a strong infl uence on the structure of in e qual ity. In
particular, the evidence suggests that progressive taxation of very high incomes
and very large estates partly explains why the concentration of wealth never
regained its astronomic Belle Époque levels aft er the shocks of 1914– 1945.
Conversely, the spectacular decrease in the progressivity of the income tax in
the United States and Britain since 1980, even though both countries had
been among the leaders in progressive taxation aft er World War II, probably
explains much of the increase in the very highest earned incomes.

For all of these reasons, a progressive tax is a crucial component of the social
state: it played a central role in its development and in the transformation
of the structure of inequality in the twentieth century, and it remains important
for ensuring the viability of the social state in the future. But progressive
taxation is today under serious threat, both intellectually (because its various
functions have never been fully debated) and po liti cally (because tax competition
is allowing entire categories of income to gain exemption from the
common rules)."

Yes so true! Progressive tax under threat! We have top-tier income tax cut as well corporate tax cut to be made up by GST! Reduce the income tax of the RICH businessmen and top income and make-up the shortfall of these taxes by taxing the middle and lower-income more via GST!


http://www.amazon.com/gp/product/B00I2WNYJW/ref=s9_simh_gw_p351_d22_i3?pf_rd_m=ATVPDKIKX0DER&pf_rd_s=center-5&pf_rd_r=1FY20WSDD236YDKYV2JY&pf_rd_t=101&pf_rd_p=1688200422&pf_rd_i=507846#reader_B00I2WNYJW

[Arcachon]

https://www.youtube.com/watch?v=heOVJM2JZxI

[richwang]

http://resistir.info/livros/piketty_capital_in_the_21_century_2014.pdf

[richwang]

Chapter 14: Rethinking the Progressive Income Tax
Chapter 15: A Global Tax on Capital