Picketty: Billionaires should be taxed out of existence

The author of Capital in the 21st Century and his new book Capital and Ideology thinks that we need to overcome capitalism: 

"Reaganism has begun to justify any concentration of wealth, as if the billionaires were our saviors. Reaganism has shown its limits: Growth has been halved, inequalities have doubled. It is time to break out of this phase of sacredness of property. To overcome capitalism."

That process involves "a graduated wealth tax of 5% on those worth 2 million euros or more and up to 90% on those worth more than 2 billion euros."

"Entrepreneurs will have millions or tens of millions. 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."

He praises Bernie, Warren and The Squad for moving in this direction. The Progressive Caucus could be included. Given that voters of all political persuasions favor corporations and the rich paying their fair share of taxes it's a winning message that the Dem Party in general needs to shout from the rooftops. Of course they also need to give up taking their bribes, for if they don't the Party is a lost cause and will leave the levers of power to the fascists.