Preemptive Props To Piketty

Let me offer premptive props to French professor Piketty, whose instant classic on Capital is all anyone can talk about.

Messr. Piketty is on the verge of a major success in helping to bring down inequality in his home country. Based on these old but not hopelessly dated stories, the wealthy French are leaving France in droves to flee higher taxes. This high-earner exodus will bring down Piketty's tax-based income figures when they are finally available in a few years, and champagne will flow freely as France celebrates its triumph over inequality (or at least over a rising trend). That is, the champagne will flow freely if there is anyone left to pick up the tab; otherwise we will be looking at table wine and tap water.

But still, congrats in advance.

TO BE FAIR, BUT NOT REALLY... Piketty does call for a global wealth tax, presumably informed by experience. But he is hazy as to whether this global tax should be collected by unicorns and enforced by dragons or vice versa, so I just can't take it seriously.

Comments

[Danube on iPad]

The abbreviated form of "Monsieur" is "M."

[Dave (in MA)]

Will there be guillotines this time around?

[NK(withnewsoftware)]

DaveMa-- heh!

[Thomas Collins]

Perhaps Lois Lerner can head the Global Wealth Tax Fairness Collection and Administration Agency to make sure the tax is collected equitably. No need for Congress to approve subjecting the US to jurisdiction of the Global Wealth Tax Fairness Collection and Administration Agency. Obama will just use his pen.

[Captain Hate]

Mooch's brother will still get about 4 million which was left on his contract for doing nothing but, unlike his sister, somebody will be hired to replace him.

[NK(withnewsoftware)]

ThomasC-- don't give them any ideas... for realz.

[cathyf]

The bottom of the distribution is always in the same place -- just north of starvation. So if the whole population gets richer, including the most desperate of the poor who become rich enough to not die, then income inequality naturally increases. There are two ways to narrow the income distribution: you can take money away from the people at the top, without helping anybody. Or you can slaughter the poorest of the poor to raise the minimums.

Somehow, despite all of the rhetoric and stated intentions, there is always a lot more of the latter in the Progressive Utopia.

[Bori]

I can't help but remember how Will Smith reacted when he was interviewed on French TV and told about the then proposed 75% tax in France.

I am wondering how much support Smith, LeBron, Damon, Penn and others have will give to a tax of 95%. You'll notice that none of them have wade in to remark on this.

[Dave (in MA)]

Why would Lois Lerner get Teresea Ghilarduci's job?

[NK(withnewsoftware)]

DaveMa-- heh HEH!

[lyle]

you can take money away from the people at the top, without helping anybody. Or you can slaughter the poorest of the poor to raise the minimums.

In other words, what do you get if you chop both ends of a bell curve? Another, differently shaped, bell curve but a bell curve nonetheless.

(Or not, in Statistics 101, for some reason I was more interested in the gal that used to wear shortest skirts.)

[Dave (in MA)]

I remember when France was a haven for British rock start who went into tax exile. I don't think it was THAT long ago...

[Dave (in MA)]

(stars)

[rse]

Tom forgets what is possible with Good Intentions and a sprinkling of pixie dust.

I am still looking at Baha'i and how it seems to be everywhere now in ed globally but usually with a different name. http://www.invisibleserfscollar.com/substituting-human-values-for-spiritual-growth-lets-education-become-the-driver-towards-the-new-world-order/

The World Peace book I mention put out by baha'i also rejects the current inordinate disparity between rich and poor" and thinks new values imposed through education are the answer.

Really not what any of us see coming when we hear of "higher student achievement."

[lyle]

I always though it was Monaco, Dave.

[NK(withnewsoftware)]

Monaco has been the Euro tax haven of choice for tennis/soccer players, rockers and F1 drivers for about 25 years.

[Dave (in MA)]

lyle, think pre-Thatcher. The Stones, Jethro Tull, a bunch of others. It was pretty common.

[Jane]

Mooch's brother will still get about 4 million which was left on his contract for doing nothing but, unlike his sister, somebody will be hired to replace him.

Will be be suing for racism?

[Captain Hate]

I doubt it; his record was pretty crummy considering they're a Pac-10 school which probably loads up on non conference patsies. They also didn't make the NCAA tourney in any of his six seasons which is probably the kiss of death for anybody in Div 1.

[NK(withnewsoftware)]

Besides, some Prog University Prez will hire him to get in good with Mooch. he'll do fine.

[cathyf]

In other words, what do you get if you chop both ends of a bell curve? Another, differently shaped, bell curve but a bell curve nonetheless.

The point, however, is that 1) it's always a bell curve, and, 2) the left end is tethered at zero. So, to do the math, grab the right end and pull it out, and the two names for the single result are "everybody gets richer" and "income inequality increases." Grab the right end and push it in, and the two names for the single result are "everybody gets poorer" and "income inequality decreases."

The "income inequality" crowd is very simply and straightforwardly trying to make everyone poorer. Because that's the only way to decrease income inequality.

[lyle]

Pre-Thatcher is that long ago, Dave. ;)

[lyle]

Point taken, cathyf. I'm just pleased that I was right about the bell curve. Short skirts beat statistics for this 20-year-at-the-time.

[Dave (in MA)]

Not for some of us, sonny.

[NK(withnewsoftware)]

Dave en fuego today

[Porchlight]

Exile on Main Street was recorded in part in a rented villa near Nice in 1971. The Stones had departed England because they had no money left to pay taxes and the government were attempting to seize assets. Keith Richards is lucky he lived to tell the tale because that's when his heroin habit began in earnest.

[lyle]

Dude, it was like 30 years ago...

[lyle]

Dude, it was like two 30 years ago...

[lyle]

Have I mention how much I hate you lately, Thai pad?

[lyle]

Speaking of The Stones, the missus and I stumbled on a fantastic documenatary about Muscle Shoals recording studio a couple of weekends ago on PBS. I had completely forgotten that they recorded Brown Sugar and Wild Horses there.

The whole film was absolutely riveting. Of course, The Allman Brothers play a very large role.

Worth finding on line, trust me.

[Dave (in MA)]

lyle, some of us are old enough to remember when Paul McCartney had grey hair.

[NK(withnewsoftware)]

now Pfizer is decamping to the UK for the lower corporate tax rates.

[Dave (in MA)]

At first I though that said Pitzer.

[Miss Marple]

http://townhall.com/columnists/kurtschlichter/2014/05/05/the-nightmare-of-a-defenseless-america-n1831067

Good and chilling column by Kurt Schlichter.

[Brian]

Well, nobody can say that you retards are pretentious.

[Thomas Collins]

Dave(in MA), Ghilarducci will be busy as the North American Division's (sovereign nations having been eliminated) representative to the World Retirement Pension Equity Equalization Board, which will be implementing a plan to distribute the confiscated private pensions in the West (i) 70 percent to the Board members and favored minions for administrative costs, and (ii) 30% to the Workers of the World United Coop members (which Coop will pay a 15% administrative fee to the Board for the Board's services in spending the 70% the Board took off the top).

[lyle]

Dave, I suspect we are both in the same proximate age range.

[Jim Eagle]

I remember back when in the late 90's, the wealthy Dutch set up camp in Belgian just over the border to avoid Dutch taxes on property and wealth. They had huge estates, were able to show off their Lamborghini without jeers, etc.

One of Mrs JiB's Dutch friends commented that those people weren't wealthy enough to live in the Netherlands :)

I see the same thing happening here. Lots of French moving to Switzerland and England.

[Porchlight]

I had completely forgotten that they recorded Brown Sugar and Wild Horses there.

Other stuff, too, though I don't know how much of it has ever been released:

http://www.guitars101.com/forums/f90/rolling-stones-studio-outtakes-1969-70-from-let-it-bleed-and-sticky-fingers-65987.html

Brown Sugar was recorded on Keith's 26th birthday. Holy cow.

[lyle]

Keith's embalming is holding up quite well, however.

[Old Lurker]

It's the new technology, Lyle.

Lenin just lies there.

Keith appears to move on stage.

[Danube on iPad]

Anybody recall the title of the documentary? Was it simply Muscle Shoals?

If anyone hasn't read Keith's "Life," let me recommend it highly. You'll be surprised at what a genuinely nice fellow he seems to be.

[Thomas Collins]

http://www.westhartfordnews.com/articles/2014/05/05/news/doc5367e13fa7bd0009721232.txt

See above link for the latest on Justina Pelletier. Note that at the moment, as far as I know, it is unclear whether the family will sign off on all aspects of the plan. The plan, in the family's view, is not specific enough as to reunification dates. My view, however, is that a deal will get done. DCF needs a deal to save whatever face it has left.

[Captain Hate]

Anybody recall the title of the documentary? Was it simply Muscle Shoals?

http://www.pbs.org/independentlens/muscle-shoals/

[Jim Eagle]

Now you know why W had a problem with Shineski's leadership:

McCain Not Calling For Shineski's Resignation - Yet

Also, W, knew what a wimp McRino was during their campaign.

[Thomas Collins]

JiB, did you notice that the other Jack is coming back tonight on Fox?

[Jim Eagle]

As an aside, I have to admit I have never been a R 'n R person. For some reason, I gravitated to Jazz while matriculating at the University of Cincinnati. There was this great jazz lounge named Herbies (remember back then you could drink 3.2 beer at 18) and I somehow found it with friends. It was in Walnut Hills on Hackberry St.

The house band was a group known as the Modern Jazz Disciples and their tenor sax was their leader, Curtis Pegler. He made me a fan for life of jazz and to this day I need a nightly infusion of Sonny Rollins, John Coltrane, Miles Davis, Dave Brubeck, The Adderley's, Max Roach, et. al. Wish I could comment more on the Stones:)

[Rick B]

"whose instant classic on Capital is all anyone can talk about"

Try a thought experiment - imagine Putin and Li listening to a few minutes of a lecture by this whiny French Marxist with a bag full of phony stats.

Which one would be the first to order him shot?

I'd bet on Li because babble about income disparity in Communist China is more dangerous to Chinese oligarchs than babble in Russia would be to Russian oligarchs.

[Jim Eagle]

TC,

Yes, I did. Frederick just asked me, after a preview of 24, who Jack Bauer was and I had to tell him he was my alter ego:)

[Extraneus]

Did Piketty suggest an ideal distribution of wealth or income?

[henry]

More for Piketty, less for everyone else.

[peter]

jib, even one of the Stones liked jazz more than rock

[matt]

Money chases return in good times and flocks to safety in bad. No government can change that unless all governments do. The US has had an incredibly heavy hand after 9/11.

Transferring large sums under the radar is almost impossible, but doing so legally is quite possible.

One of the issues of our age that has been unaddressed is the role of multinationals in destabilizing the global economy through their ability to outsource and offshore manufacturing.

Of course the role of government is a large part of this as well. Free trade agreements have allowed this to happen on a massive scale. China has paid no penalties for its system and its ecological and ethical transgressions, using its low cost labor and land as huge incentives.

Now we have the China price and China quality and China ethics.

Assholes like Piketty simply want to grab a larger piece of a shrinking pie in the West rather than address some of the structural issues.

The French upper class is fleeing to London with every Euro they can. The Germans park their money in Austria, which turns a blind eye. The Russians have massive investments outside of Russia such as multiple hundred million dollar yachts, real estate, and all of the other traditional money stashing havens. Apple has Ireland and Nike has Bermuda and ha ha frickin ha Mr. US taxman.

Despite all of the empirical evidence of a reasonably laissez faire capitalism being the best system to improve the quality of life of the masses and all of the empirical evidence of the deletery effects of socialism in Eastern Europe, China, Cuba, France and eleswhere, they Left still pushes a complete line of BS.

Add Piketty to that dung heap that includes Marx, Engels, Lenin, Nietzsche, Hitler, Derrida, Sartre, Gramsci and the rest of the lying command economy devotees.

[lyle]

Speaking of Brubeck, there's also a great PBS doc that is from three/four years ago. Very well done and quite touching.

[Rick B]

"Did Piketty suggest an ideal distribution of wealth or income?"

Dunno, I can't stand the torpor induced by trying to read ecofi fantasy. I also don't like to be startled awake by loud snoring.

[NK(withnewsoftware)]

Matt-- all true, but the regulatory state is all the Statists and their credentialed morons have. They'll never give it up.. what are they going to do, start a business and compete?

[Janet - the districts lie fallow, while the Capitol gorges itself]

This Hill link is something - http://thehill.com/homenews/administration/205216-white-house-may-not-cooperate-with-benghazi-probe

"Carney refused to answer questions directly about whether the White House would cooperate, but he noted that there had been 13 congressional hearings, 50 member-and staff briefings, and over 25,000 pages of documents produced over the September 11, 2012 terror attack, in which four Americans were killed."

probably 25,000 pages of USELESS documents!

like glasater wrote on the last thread -

""...the White House has "always cooperated with legitimate oversight,"

That statement right there by J Carney can be added to the list of lies coming out of this bozo admin." AMEN!

This "show" seems like standard operating procedure for the Dems. They do it here in Arlington too.

*hold numerous meetings. Call them Q&A or community meetings, but just "blah, blah, blah" everyone to death. 5 minutes of questions are allowed at the end. Only the 2 people that haven't killed themselves or left hear the answers.

*delay, delay, delay....then when years later the true info comes out...say the decisions have already been made. It's been talked about for years & opponents are TOO LATE.

*lie. Produce bogus studies from cronies & allies.

[NK(withnewsoftware)]

That's the Prog way... shut off any real debate, then claim the 'science is settled'

[Danube on iPad]

Thanks CH. Just did a search of DirecTv and it's not scheduled for a re-broadcast.

[Janet - the districts lie fallow, while the Capitol gorges itself]

And another one that Althouse pointed out -

*label opponents as crazy or some name.

http://althouse.blogspot.com/2014/05/jane-harman-recited-not-talking-points.html

*ask about Obama's past - birther
*support the ideals of tea party groups - racist
*ask about Benghazi - partisan kooks
*don't want to redefine marriage - anti-gay homophobe
*question AGW - denier

[Danube on iPad]

"even one of the Stones liked jazz more than rock"

Charlie Watts still says he thinks of himself as a jazz musician.

[NK(withnewsoftware)]

and all of those attacks on opponents must be said with snarky righteous indignation and the certitude of mora superiority. That captures the attitue of all of my 'professional' colleagues in this NYC Blue Hell.

[CR]

So Kerry says he's not rescheduling his Mexico trip to honor the subpoena for May 21 from Issa. What happens now?

[Beasts of England]

I had completely forgotten that they recorded Brown Sugar and Wild Horses there.

Jagger also wrote Wild Horses on the throne at the studio. They saved the seat and it is nailed above the entrance to that same bathroom today, as pictured below.

A proud moment in Rock and Roll.

[Extraneus]

Just the words and melody, Beasts? I assume he didn't have a guitar or keyboard handy.

[Rick B]

I wonder why Piketty didn't use the 30 year period following the almost complete attenuation of the Bourbon 1%ers as an illustration of the potential contribution to equality, peace and prosperity to be achieved by adoption of his discoveries regarding compound interest? It's not as if he doesn't have access to the data.

[Beasts of England]

Both, as the story was told to me, Extraneus.

[Beasts of England]

I should clarify: the bathroom is actually next to the drum booth, i.e., truly in the studio. I was told he had his guitar in there with him...

[Danube on iPad]

The success story that is the Workers' Paradise rolls on.

"Scarcity is overarching. Food, personal care products, household cleaning items, vehicles and even drugs, as confirmed by the Central Bank of Venezuela (BCV). Based on data supplied by the BCV, ending March, shortage of pharmaceutical products amounted to 50%. The BCV report verifies the plight underwent day by day by patients. Chambers and associations in the health sector have warned for months against "suffocation" due to delays in settlement of foreign currency allocated at the official exchange rate. As a result, final products, raw materials and inputs cannot be imported. The Chamber of the Pharmaceutical Industry (Cifar) gave the latest notice."

I am confident that Stone and Penn are undisturbed. What counted was that Chavez hated America.

[narciso]

there are moments of clarity, before the brainslug;

http://www.breitbart.com/InstaBlog/2014/05/05/CBS-News-David-Rhodes-Government-Thinks-Benghazi-Not-Just-a-Spontaneous-Mob-Reaction-to-a-Film

[narciso]

Maybe in forty years, Piketty will recount;

http://babalublog.com/2014/05/05/author-of-left-wing-bible-for-latin-ameriica-open-veins-admits-his-1971-book-is-garbage/

[Jane]

Oh dear: McCain just said Gowdy was "cut from the Lindsay Graham mode". I almost threw up.

[Threadkiller]

Paging James D:

Federal court rules that stiff driving posture is suspicious behavior

A panel of judges unanimously ruled that having hands at "ten-and-two" is suspicious enough to stop drivers inside the USA.

http://www.policestateusa.com/2014/cindy-lee-westhoven/

Not to worry. Her fate was sealed by a Fourth Amendment Fido.

[Rick B]

Jane,

Graham rose due to his performance as a Clinton impeachment manager. I believe Gowdy is stronger but it's not a particularly bad comparison.

[James D.]

Wow, TK. That article is...

I don't even know the words. Insane, horrifying, DOOM - they all seem inadequate.

[Jim Eagle]

So, that is that is what Brown Sugar means?

I have my hands at 7 and 4. Fork lift driver wannabe.

My beagles are not accepting their conehead confinement too well. Jazs is now renamed Houdini since he found a way to not only remove his lampshade but escape his kote (cage) last night. He is now a watch list for potential escapees.

[Jane]

It's a terrible comparison Rick, even if it's not. Ugh!

[Danube on iPad]

Graham has always struck me as an effective questioner of witnesses at hearings.

[Danube on iPad]

When my stepson was taking driving lessons he was taught to put his hands at 10 and 2.

[Jane]

Did anyone see Gowdy on Greta? What did he say?

[Extraneus]

Obviously he should be locked up.

[Threadkiller]

I have my hands at 7 and 4. 

If you want to trailer race someone in reverse using only your mirrors, this is the correct hand placement.

;-)

[maryrose]

CH:
Voted absentee so no worries.We leave for Portland, Oregon tomorrow and will head for Astoria. I am currently reading a book on Astoria and its founding which includes the Lewis and Clark exploring expedition.
Don't know how close we will come to Jim in Washington state but we will be in seattle briefly. I have never been to the Pacific Northwest so I am very excited. Thanks for the good wishes,Porch, Sue and Jane!

[maryrose]

Needless to say I am thrilled about Gowdy and I am prepared to mudwrestle for him. He needs a new haircut for the hearing.

[maryrose]

Lyle and Beasts:
We have the same avatar...

[Beasts of England]

That we do, maryrose! Thai pad has me locked out from log-in, so no fun avatars for me until it's fixed. Oh, well...

[miss Marple]

Marry rose, Gowdy's latest hairdo is the best I have seen on him.

I think he is losing his hair and is struggling with it.

[narciso]

He has a harder edge then Graham ever did, the way special operators are treated now a days, I guess it's not surprising that Bauer would be hunted, ala Michael Weston,

[narciso]

Maybe less of the double breasted suit, but otherwise, I haven't seen any problem with his cross examining.

[Jane]

So if you guys saw him, what did he say?

Maryrose, I am so in love, I cannot concede.

[narciso]

to paraphrase, he didn't come to Washington, to earn the respect of the chattering classes;

http://www.thegatewaypundit.com/2014/05/rep-trey-gowdy-democrats-wouldnt-like-it-if-i-cured-malaria-so-of-course-theyre-going-to-be-critical-video/

[narciso]

yet another fighter to the ranks

http://therightscoop.com/awesome-and-gripping-new-ad-from-bongino-campaign-why-we-fight/

[pagar]

And another fighter:

http://www.breitbart.com/Big-Government/2014/05/04/New-Joni-Ernst-Ad

HOG CASTRATING CANDIDATE'S NEW AD: RIDES HARLEY TO GUN RANGE AND 'UNLOADS' ON OBAMACARE

It has been a long long time since I saw a candidate that I wished I still lived in Iowa to vote for.

The last one I voted for was Sen Hickenlooper. But I was overseas so I doubt if my ballot made it back in time anyway.

[narciso]

Catherine Herridge, has identified a series of emails, between Donilon, Brennan and Rhodes, which was to coordinate a response to the Sept 27th broadcast, on Megyn's show,

[Captain Hate]

Graham has always struck me as an effective questioner of witnesses at hearings.

I agree with this but then he votes like the answers were something different than what he received.

Have a nice vacation, maryrose; I'm still not sure how I'll vote on Issue 7.

[narciso]

What's Prop 7, about Captain,

[narciso]

Really, what was your first clue, Bruce;

http://www.thedailybeast.com/articles/2014/05/05/syria-s-terror-blowback-threatens-europe-and-the-united-states.html

[Captain Hate]

As I understand it, it's a renewal of the sin taxes that paid for the baseball stadium and basketball arena (which makes sense because they're both 20 years old; time flies when you get old). I can see arguments on both sides but I'll probably end up voting for it to finance ongoing improvements.

narc, did you listen to that Albert Collins/John Zorn youtube clip I linked last night?

[Danube on iPad]

"I think he is losing his hair and is struggling with it."

I think he has an extraordinarily elongated head and that nothing he does with his hair will help.

[narciso]

Yes, I did, and I didn't notice the distortion, also first time I heard Albert Collins, so thanks for that.

I've come to see stadiums as the big Bialystok play, and I'd vote against now,