Reducing billionaire wealth, or limiting its growth is st stated aim. Piketty and like minded economists argued for it directly. The political proposals (eg Warren's) were also straightforward.
It is a red herring, but money always is when it comes to politics. They all have stuff they want to fund.
By Picketty's math, 2%-2.5% is roughly break-even. That is, average billionaire wealth will grow in proportion to the economy & wages. Less, they will grow more slowly relative to the economy. Above 2.5%, millionaire wealth will decrease, relative to the size of the economy.
Reducing billionaire wealth, or limiting its growth is st stated aim. Piketty and like minded economists argued for it directly. The political proposals (eg Warren's) were also straightforward.
It is a red herring, but money always is when it comes to politics. They all have stuff they want to fund.
By Picketty's math, 2%-2.5% is roughly break-even. That is, average billionaire wealth will grow in proportion to the economy & wages. Less, they will grow more slowly relative to the economy. Above 2.5%, millionaire wealth will decrease, relative to the size of the economy.