Senator Elizabeth Warren (D-MA) is scheduled to appear with the author of a book extolling a socialist-styled economic system. The book recently excited liberals across the world, and the author was hailed as the modern Karl Marx.
Piketty’s book explores the concentration of income and wealth and is particularly concerned about income inequality. The book offers a populist scheme of forced income redistribution to “fix” the problems its author perceives.
Liberals and advocates of wealth-punishing Keynesian economics are “swooning” over Piketty’s book. America’s chief Keynesian, The New York Times’ s Paul Krugman, even said the book is so good that conservative economists can’t refute it.
However, a recent article in Forbes points out that Piketty’s book is being “shredded” by critics both here and across the pond.
For her part, Senator Warren is praising the redistribution policies in Piketty’s book. “The data don’t lie on this. He’s got good historical data, and boy, what it shows is trickle down doesn’t work. Never did, doesn’t work. Just so we’re all clear on the baseline. I just saved you 1,100 pages of reading,” she said in April.
With her praise of this socialist-themed book it is no wonder so many feel Senator Warren is herself a socialist. In fact, she had to refute that charge during a recent appearance on CBS’s Face The Nation.
During her appearance on the May 11 broadcast of the CBS Sunday show, Warren said she couldn’t understand why people would call her a socialist.
“I just don’t know where they get that,” Warren said to host Bob Schieffer. “You know, look at the issues. I mean really, let’s take a look at minimum wage – I just believe nobody should work full time and live in poverty. And you know what? Most of America agrees. Student loans: I don’t think the U.S. government should be making tens of billions of dollars in profits off the backs of our students, which is what the current student loan system is doing. And I think most Americans agree with me on that.”
The May 31 web event is being sponsored by a group calling itself “Patriotic Millionaires.” The group is made up of millionaires who advocate for higher taxes on people such as themselves.
Follow Warner Todd Huston on Twitter @warnerthuston or email the author at email@example.com.