of course under keynesian economic schemes, billionaires have to hde their assets to avoid the usury taxation, hence frenchy's proposed GLOBAL WEALTH TAX
One simple law would solve that, and oligarchs do it anyway regardless of what economic system is in place. One problem is that there are a lot of politicians that are oligarchs themselves, I believe I read a report recently that said the majority of congress are millionaires, so why would they enact such laws? They wouldn't, hence my support for article 5; make em.
thats right, you thought i forgot about frenchy proposing a GLOBAL tax on standing wealth.
That's not what Piketty proposes, read his book. Here's a .pdf, totally free where he lays it all out;
http://resistir.info/livros/piketty_capital_in_the_21_century_2014.pdf
frenchy wants to tax me on my 2 mill in the bank, so every year it gets smaller and smaller
"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 significantly higher
(or lower) rates can have a strong influence on the structure of inequality. 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 after 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 after World War II, probably explains much of the increase in the very highest earned
incomes. At the same time, the recent rise of tax competition in a world of free-flowing capital has
led many governments to exempt capital income from the progressive income tax. This is particularly
tr ue in Europe, whose relatively small states have thus far proved incapable of achieving a
coordinated tax policy. The result is an endless race to the bottom, leading, for example, to cuts in
corporate tax rates and to the exemption of interest, dividends, and other financial revenues from the
taxes to which labor incomes are subject."