"Piketty: Billionaires hurt economic growth and should be taxed out of existence"

Years ago I was told that someone was rich if their pile was three times the size of yours.

Based on sales of three million copies of "Capital in the 21st Century", maybe the theatrical and musical rights to same (the documentary is already in the can) and some judicious investments over the years, Professeur P's pile is probably in the $10 - 30 million range.

From CNBC, September 12, 2019:

• A popular French economist says billionaires are harmful to economic growth and would be effectively abolished under his tax plan,
• In an interview with the French magazine L’Obs, Thomas Piketty calls for 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.
• Piketty says the notion that billionaires create jobs and boost growth is false.

A popular French economist says billionaires are harmful to economic growth and would be effectively abolished under his tax plan, according to an interview.

Thomas Piketty, whose 2013 book on inequality, “Capital in the 21st Century,” became a global bestseller and bible for tax-the-rich progressives, just published a 1,200-page follow-up book called “Capital and Ideology.” It won’t be published in English until March. But in an interview with the French magazine L’Obs, Piketty called for 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,” he said. “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....MORE

Well there you go, the formula appears to hold in this case.

Some previous Piketty (gotta stop with the alliteration):
Piketty, The Musical
Emanuel Derman, Tyler Cowen et al On "Why is Thomas Piketty's 700-page book a bestseller?"
While I Contemplated Writing 700,000 Words On Piketty, The FT's Money Supply Came Back Swinging
A Socialist Review of Piketty's Latest
The Financial Times Explains Its Vicious Crypto-fascist, Puppies-in-a-Blender Attack on Thomas Piketty
Piketty, Piketty. Why Does That Name Seem Familiar? El-Erian on Piketty's Investment Strategies
Piketty Til You Puke: "Ryan Avent Is Very Unhappy with Clive Crook’s Review of Piketty’s 'Capital in the Twenty-First Century'"
We've now gone all second -or is it third?- derivative (fourth?).

And many more, use the 'search blog' box if interested.