Friday, May 23, 2014

THE POT AND THE PIKETTY

 

To make the most justified choices, now there's a phrase for you.

 We love it. But it does raise a few questions: justifiable for whom and for what?

Wouldn't it be a wonderful world if we could all make the most justifiable choices. Don't know about you but my taxes are justifiably way too high and I would love to lower them. Let me add, albeit, legally.

Whenever we talk to the IRS they always seem to settle on the side most justifiable for them. And from most taxpayers we've discussed the issue with they seem to--unless your last name is Warren Buffett, and he pays taxes at the capital gains not income rate--make justifiable choices in their favor.

And that brings up a question or three about the latest overnight economic media sensation, Thomas Piketty, and his Opus Inequality, "Capital in the Twenty-First Century" that had most of the MSM here and abroad writhing in their panties over.

Now we don't have a camel in this race other than the often cited but seldom used abstract notion about fair play.

It's pretty clear what Piketty is and it was pretty clear a while back what those two Harvard economists are who were taken to task for "similar errors." We got to confess, however, Piketty's explanation appears the more slimy of  the two.

What we'll find out soon is how many of the carping blowhards back then will step into the fray now.

http://blogs.marketwatch.com/capitolreport/2014/05/23/piketty-appears-to-have-got-his-sums-wrong-financial-times-says/

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