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04-29-2014, 05:35 AM
Redistributive justice is nothing short of legal plunder.

Fighting Inequality: Rule Of Law Vs. Legal Plunder (http://news.investors.com/ibd-editorials-viewpoint/042814-698708-piketty-book-is-prescription-for-killing-growth.htm#ixzz30GnLdphN)

The release of Thomas Piketty's new book "Capital in the Twenty-First Century" by Harvard University Press has caused a rush of media attention for the 42-year-old professor who teaches at the Paris School of Economics.

He advocates a steeply progressive income tax with a top rate of 80% along with a wealth tax to reduce inequality, which he finds to be on the rise globally.

If his scheme were implemented, "legal plunder" (a term coined by the 19th century French liberal Frederic Bastiat) would undermine the rule of law, which is meant to safeguard persons and property, and turn the concept of justice on its head — from meaning the prevention of injustice to the use of force to dictate some politically favored distribution of income and wealth.

Piketty claims he is not a Marxist but rather a socialist with a belief in private property. Yet, the contradiction should be apparent: One cannot defend private property and at the same time call for a massive taking of property.

Piketty reveals his preferences when he states: "Capitalism and markets should be the slave of democracy and not the opposite."

In his view, property is not a natural right prior to the law; it is a creation of the state. Hence, the majority should be able to use the power of government/legislation to heavily tax the rich and near-rich. The purpose would be to rid the world of inequality. This is his moral imperative....

04-29-2014, 05:39 AM
How is Thomas Piketty's advocation of a higher tax rate equal the rule of law?

04-29-2014, 05:57 AM
How is Thomas Piketty's advocation of a higher tax rate equal the rule of law?

The point of the OP is it is not but just the opposite.

04-29-2014, 05:45 PM
High taxation is not a new idea, it’s something that has already been tried in the UK and failed. What it did was cause was a “brain drain” as the skilled and wealthy left the country and simply took their money elsewhere. Predictably, many went to the U.S. leaving the UK bankrupt in the late 1970’s.

Democracy is a system of voting not an ideology in itself, so yes, I’d agree he is a socialist in that respect and not a Marxist, because he advocates the State distribution of profit, but doesn’t insist on State acquisition of the means of producing it. Where he turns into a Marxist is his insistence on property being State controlled. His ideas are decades old, there’s nothing new in what he’s saying. High taxation – socialism, State property ownership – communism.

“In 1971 the top rate of income tax on earned income was cut to 75%. A surcharge of 15% kept the top rate on investment income at 90%.In 1974 the cut was partly reversed and the top rate on earned income was raised to 83%. With the investment income surcharge this raised the top rate on investment income to 98%, the highest permanent rate since the war. This applied to incomes over £20,000 (£176,477 as of 2014). In 1974 750,000 people were liable to pay the top-rate of income tax.

Margaret Thatcher, who favoured indirect taxation, reduced personal income tax rates during the 1980s. In the first budget after her election victory in 1979, the top rate was reduced from 83% to 60% and the basic rate from 33% to 30%. The basic rate was also cut for three successive budgets - to 29% in the 1986 budget, 27% in 1987 and to 25% in 1988. The top rate of income tax was cut to 40% in the 1988 budget. The investment income surcharge was abolished in 1985.”

http://en.wikipedia.org/wiki/History_of_taxation_in_the_United_Kingdom (http://en.wikipedia.org/wiki/History_of_taxation_in_the_United_Kingdom)

A visual trip down memory lane and life under a ‘Labour’ UK socialist government in the 1970’s – a bit like East Germany under communism.

http://www.dailymail.co.uk/news/article-2365732/Lorry-driver-captures-decline-factories-shops-1970s-Leeds-Motorway-City.html (http://www.dailymail.co.uk/news/article-2365732/Lorry-driver-captures-decline-factories-shops-1970s-Leeds-Motorway-City.html)