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Thomas Piketty’s Vision of a Global Wealth Tax
Tyler Cowen despedazando el libro de Piketty que todos están comprando y pretendiendo leer esta temporada y dándole duro a su idea utópica de un impuesto global a la riqueza:
He points to estimates he has previously published in academic papers as evidence that such a confiscatory regime would not harm the labor supply in the short term. But he neglects the fact that in the long run, taxes of that level would surely lower investments in human capital and the creation of new businesses. Nor does he recognize one crucial implication of his own argument about the power of nondiminishing capital returns: if capital is so mobile and dynamic that it can avoid diminishing returns, as Piketty claims, then it will probably also avoid being taxed, which means that the search for tax revenue will have to shift elsewhere, and governments will find that soaking the rich does not really work.
Tyler Cowen: Thomas Piketty’s Vision of a Global Wealth Tax (Foreign Affairs)
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