Chris
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....
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....