TheRealNews on Apr 14, 2018
Economist Michael Roberts says the change of tone within the OECD is interesting, but there are no takers ready to implement estate taxes to reduce inequality.
“MICHAEL ROBERTS: Yes, it’s a very surprising development. As you say, the OECD has a reputation for being neoliberal, as some of us say on the left, which means that they’re interested in preserving the interests of capital and not the interests of labor and generally trying to raise profitability for most economies around the world, for the sections that own the means of production. And this is a bit of a surprising report. And they’re saying that wealth inequality is much more important and much worse than income inequality, and something’s got to be done about it, which is a very big surprise.
MICHAEL ROBERTS: Well, there are several things, I think, Sharmini. First of all, is it the best way to tax people who are receiving benefits from when their parents or relatives die? Is that the most important issue, the personal wealth tax, which is the view of Thomas Piketty and others, the economists you talked about. Or is it more important to have real control over the concentration of capital which exists in the big corporations, the big companies, which control our means of production and lead to the generation of this huge income growth and wealth growth to the top 1 percent. Seems to me we should be looking in that area.
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