It turns out that Europe and the US are a lot richer than we thought. For example taking into account offshore tax avoidance, Europe is a net creditor and US indebtedness falls in half as a share of GDP from 18 to 9 percent. It is a testament to the pernicious and counterproductive impact of high marginal tax rates on capital that so much money has fled its country of origin. Countries just push it away.
When will the great "they" learn that the reason envy is a sin is because policies derived from it are destructive and therefore evil.
But progressive pride seems to demand raging envy. A case where two mortal sins don't make a right policy.
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