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Robert Frank – Billionaires hurt economic growth and should be taxed out of existence, says bestselling French economist

Summary:
Thomas Piketty "Entrepreneurs will have millions or tens of millions," he said. "But beyond that, those who have hundreds of millions or billions will have to share with shareholders, who could be employees. So no, there won't be billionaires anymore. How can we justify that their existence is necessary for the common good? Contrary to what is often said, their enrichment was obtained thanks to these collective goods, which are the public knowledge, the infrastructures, the laboratories of research." CNBCBillionaires hurt economic growth and should be taxed out of existence, says bestselling French economist

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Thomas Piketty

"Entrepreneurs will have millions or tens of millions," he said. "But beyond that, those who have hundreds of millions or billions will have to share with shareholders, who could be employees. So no, there won't be billionaires anymore. How can we justify that their existence is necessary for the common good? Contrary to what is often said, their enrichment was obtained thanks to these collective goods, which are the public knowledge, the infrastructures, the laboratories of research."

CNBC

Billionaires hurt economic growth and should be taxed out of existence, says bestselling French economist

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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