All of this means that it matters a lot that this group has quite so much power that the concentration of
the incoming wealth at the top has destroyed our society as led as to make bad choices just in terms of
the overall state of the economy as well as the unjust choices , choices that hurts ordinary people even
if they mass benefit the few people at the top and we need to try to turn this around and [] maybe the
most important is we still have this tendency to assume that because , because people have a lot of
money that means that they actually understand the world that being rich means that you also wise and
that is very very much not true I don’t want to romanticize the wisdom of the common man but they are
but the fact of matter is that that if anything they are the top point 15 has the worst idea about the
reality of the life and the really impact of the policy than ordinary voters and anything we can do to cope
that influence is going to help make the America a better place
Thanks for that when you made your comment about people being clueless on a social security[ ] was
reminded up [] from Blackstone we should raise the retirement age because people mostly sit around
and their jobs but I wanted to ask you[] you written some insightful colums about other economic
matter/models on the other place of the world on Denmark for example I wonder if there is anything
we can learn about how some other countries have dealt with their 0.1%
Okay the Nordic really interesting case they are living refutation of the orthodox itself saying that the
high taxes are in on mass destructive [] to presidential matter of the freedom but just look at Denmark
just look at Sweden these are countries that have tax far higher tax than we do any yet they have choose
their outcomes things like prime age employment rates they do better than we do what is true about
the point of 0.1% even the Nordics are not that successful at taxing stream wealth they make more than
we do but they do live in the globalized world and what we have learned if people his stuff that Gabriel
zucman has been doing this amazing staff on tax saving and a lot of ta that the ritual elusive we actually
know as much as we do which is not as much as we should only hear thanks to the panama paper and
then the panama paper integrated what Gabriel did was integrated with the information provided by
the swidenish ministry of finance which was willing to supply enough data so we can do matching so
that from one hand saying that wiss [dearly ] has a very different attitude toward the state actually
willing to save at high concentration of the wealth is a bad thing but also what is turns up is that there is
also a lot of the offshore hidden wealth on part of Scandinavians a lot of money in offshore tax saving
so it is hard however Denmark used to have wealth tax and it was effective they did manage to collect
money it actually a key part of the background behind the world tax proposal is that in the few cases
where wealth taxes has been applied there was less evasion than what you might have feared so not a
perfect answer it probably true the there has been plutocratic trend even in Sweden and Denmark but it
nothing like as bad as it is here