Star French Economist Wants World Government, Global Wealth Tax to Cut Your Living Standards
The star French economist Thomas Piketty wants a world government ordering permanent cuts to your living standards.
In a lengthy thread on X on June 4, Piketty, author of Capital in the Twenty-First Century, called for the “Global Justice Fund” a slush fund that would be 20 times bigger than all the world’s current development aid.
He says that flows from the “Global North to the Global South are far from making up for historical climate and colonial damage caused by the North.”
“We envision a new institution, the Global Justice Fund, to finance this sustainable convergence path,” he said.
“The fund would raise revenue via global wealth and income taxes to be used for climate investments, expansion of health and education, and building up a World Sovereign Fund,” he added.
So where is this money going to come from? You, of course.
He said that the Global Justice Fund “would average 10.3 percent of world GDP annually between 2030 and 2060 — compared with less than 0.4 percent currently allocated to development aid and international organizations.”
“The world today is characterized by large-scale inequalities. And a climate crisis is looming over us.
“We urgently need a new vision for global progress in the 21st century. One that grounds human development and equality in planetary habitability.
“What would it take to achieve high prosperity and equality while remaining within planetary boundaries?” he asked.
Piketty himself is a social democrat who seems to want to avoid the Marxist label.
But in classic Marxist fashion, Piketty divides the world into guilty rich nations and victim poor nations, arguing that the “Global North” owes the “Global South” for “historical climate and colonial damage” and a New World Order needs to be built.
Tax lawyer and investigative journalist Dan Neidle said on X that Piketty and his large team (45 direct contributors!) have just proposed a “worldwide tax and economic revolution” and voters willing to “accept what amounts to a permanent revolution.”
He said that the plan involves cap rich-nation growth near zero, cut work hours in half, cut material consumption by 1/3, 10 percent of GDP going into a global fund and tax wealth to essentially end it.
“It’s potty,” said Neidle.
Putting it politely.