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@PikettyLeMonde I am less familiar with income tax debates of 1913. Was it the case as of then that 75 percent of the countries who had tried income taxes had abandoned them? This is the case in 2019 with respect to wealth taxation. 1/8
@PikettyLeMonde You suggest that if I wish to propose an estimate of revenue from wealth tax I should first research inequality. As @NatashaRSarin and I have stated twice now, we do not feel equipped enough to make an estimate to guide political judgment. 2/8 washingtonpost.com/opinions/2019/…
@PikettyLeMonde @NatashaRSarin We do know enough however to be highly skeptical of the Saez & @gabriel_zucman numbers. 3/8
@PikettyLeMonde @NatashaRSarin @gabriel_zucman Reliable revenue estimates depend on understanding inequality. They depend even more on understanding issues around tax collection processes, what is practical and politically imaginable, and actual scorekeeping. 4/8
@PikettyLeMonde @NatashaRSarin @gabriel_zucman .@gabriel_zucman I am not known as humble. But I would never dream of offering an extrapolation from my academic research as the primary basis for a multi-trillion-dollar revenue estimate by a major presidential candidate. 5/8
@PikettyLeMonde @NatashaRSarin @gabriel_zucman To be clear: Reducing inequality through more progressive taxation is a central issue of our time. We are in total agreement we must raise more tax revenue from the rich. 6/8
@PikettyLeMonde @NatashaRSarin @gabriel_zucman The question is what is the fairest, least distortionary, simplest way? Why rely on approach that may be unconstitutional, that most of the world abandoned, where there has been no thorough vetting by tax professionals and where the revenue estimate is completely academic? 7/8
@PikettyLeMonde @NatashaRSarin @gabriel_zucman Much better to fix corporate taxes, close loopholes, appropriately tax capital gains and audit and enforce tax compliance of the wealthy in a serious way. Raises more revenue too. bostonglobe.com/opinion/2019/0… 8/8
