Must-Read: Miles Corak: “After Piketty”: 12 Policy Proposals
…encouraging innovation that increases the employability of workers, notably by emphasizing the human dimension of service provision. Public policy should aim to reduce market power in consumer markets, and to re-balance bargaining power between employers and workers…. Return to a more progressive rate structure for the personal income tax, with a top rate of 65 per cent…. The government should offer guaranteed employment at the living wage…. Employers should adopt ethical pay policies…. Increased taxation of investment income….
A fresh examination of the case for an annual wealth tax…. All receipts of inheritance and gifts inter vivos to be taxed…. National Savings… offering a guaranteed positive (and possibly subsidised) real rate of interest on savings…. Institutions to represent the interests of savers and to provide alternative outlets for saving not driven by shareholder interests…. A capital endowment for all, either at adulthood or at a later date…. An EU initiative for a participation income as a basis for social protection, starting with a universal basic income for children.