Paul Krugman: America Becoming an 'Ugly,' 'Oligarchy'; Supports Global Wealth Tax

Paul Krugman: America Becoming an 'Ugly,' 'Oligarchy'; Supports Global Wealth Tax

New York Times columnist and economist Paul Krugman joined PBS’s Bill Moyers to discuss a new book that highlights income inequality in America, “Capital in the Twenty-First Century” by Thomas Piketty.

Krugman said America is becoming an oligarchy with those in power having only inherited wealth. Calling the “1 percent” “ugly” Krugman continued, “We’ve had a parade of billionaires whining about the incredible injustice that people are actually criticizing them. And then comparing anyone who criticizes them to the Nazis.”

Krugman supported Piketty’s calls for a global tax on wealth which he said would be possible if the United States could find the political will…

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