‘No Empirical Evidence’ for Thomas Piketty’s Inequality Theory

Higher taxes only lead to more money for corrupt politicians (sorry for the pleonasm), less business investment, less technological development, thus higher prices and less welfare for poor people.

http://blogs.wsj.com/economics/2016/08/05/no-empirical-evidence-for-thomas-pikettys-inequality-theory-imf-economist-argues/