Support the news

Thomas Piketty On Income Inequality: 'We Can Do Better'01:02
Download

Play
This article is more than 5 years old.

French intellectual phenomenon economist Thomas Piketty is generating headlines with his bestseller, "Capital in the Twenty-first Century."

Piketty focuses on the danger of income inequality and he's calling for an overall tax on wealth. On NPR's On Point this morning, he said:
"Wealth levels above $100 million or $1 billion seem to be rising at 6 to 7 percent per year, you know, of course a middle class family doesn't get that rate of return right now. So this creates a tendency toward excess concentration of wealth. But that doesn't mean that we want to go to full equality of wealth. Right now, the bottom half of the U.S. population owns about 2 percent of U.S. national wealth. If it was full equality it should be 50 percent. I'm not saying it should be 50 percent, I'm just saying maybe we can do better than 2 percent."

This segment aired on April 29, 2014.

Support the news

+Join the discussion
TwitterfacebookEmail

Support the news