Cleaning out old boxes, I found this magazine cover I saved from 2014. With wealth tax threads all over twitter, funny how the Right's case has gone from this to "actually the taxation of the 0.01% isn't regressive, if you measure this other way!"
Utter retreat across the board.
Utter retreat across the board.
2014: "Why are we even talking about this? The rate of return on capital is going to collapse as wealth increases over GDP."
<Five years of returns on capital remaining the same later>
2019: "Evasion. Everyone will just evade this."
<Five years of returns on capital remaining the same later>
2019: "Evasion. Everyone will just evade this."
My favorite was the argument that we shouldn't worry about wealth suffocating the economy, because robots are going to take all the jobs instead. (I'll let you google this one out if you don't recall.) #yanggang
