Bombshell Investigation Delivers Big Blow to Book on Rising ‘Wealth Inequality’ Hailed by the Left as a ‘Game-Changer’

An investigation conducted by the Financial Times reportedly revealed a “series of errors” that “skew” the findings outlined in Thomas Piketty’s best seller “Capital in the 21st Century” on income inequality. The book has been hailed by the left as a “game-changer,” and compared to Karl Marx’s “Das Kapital” by critics.

However, FT economics editor Chris Giles claims to have found serious errors in Piketty’s data, which likely undermine his findings.

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The Robin Hood Fallacy: Piketty Would Take from the Rich to Give to the Poor

FOUNDRY, by Stephen Moore - In public policy, bad ideas—no matter how many times they have been discredited—never completely go away. They seem to pop up over and over. Enter the hot new book that has captured the imagination and attention of the left because it endorses an 80 percent tax rate on the rich in the name of “leveling” incomes. ✧ The book is entitled “Capital in the Twenty-First Century” by French economist Thomas Piketty, and in addition to 1970s-style tax rates, he wants a new wealth tax on the rich and more money for social welfare programs. He’s being treated like the modern-day Adam Smith by the media [THE LEFT]. ✧ The way to create a more equal distribution of income, apparently, is by making everyone poorer. Piketty warns that “meritocratic extremism”—which is another way of saying you get to keep the fruits of your labor—is ruining our nation’s economy and if we don’t divide the pie more equally, the result could be “truly frightening.” He says that his goal is to “save capitalism… [ahem]”

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