Larry Ludwig from Investor Junkie is occupying MMS this week in order to give us his thoughts on the income inequality debate generated by this summer’s blockbuster bestseller: Thomas Picketty’s Capital In the Twenty-First Century. Any time that a book as long as the Bible that is written by a French economist ends up on coffee tables around the world – you know something interesting has happened. For those of you having flashbacks to boring English classes, have no fear – this isn’t a book club – we chat about what you can do claim your spot in a shrinking middle class no matter what the 1% is doing.
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Key Takeaways From This Episode
Some important questions discussed in this episode:
- Is income inequality even a problem? Hasn’t it been around forever?
- What has taxation looked like in the past? It can’t have changed that much right?
- How does corporate taxation and recent “corporations as people” chatter factor into this whole income inequality debate?
- What do the infamous 1% do to make all their money? (*Hint: They aren’t just working more overtime.)
- What steps can you take regardless of what the 1% are doing?
- OECD on inequality.
- David Astor from MIT talks about the economic importance of an education.
- The fluidity of top income earners in the USA.
- Everything you need to know about Thomas Picketty’s 700+ page bestselling tome.
- George Mason University looks at historical federal tax-to-GDP ratios.
- Here’s what wealth mobility look like in today’s USA.
Items Mentioned In This Show
- Thomas Picketty’s Capital in the 21st Century.
- The Executive Summary of Thomas Picketty’s Capital in the 21st Century (*It’s only 40ish pages so people might actually get through it!)
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Panelists In This Episode:
- Special Guest: Larry Ludwig | Investor Junkie
- Glen Craig | Free From Broke
- Kyle Prevost | Young and Thrifty
- Miranda Marquit | Planting Money Seeds
- Peter Anderson | Bible Money Matters
- Tom Drake | MapleMoney
For a quick bio of each of our show participants, head on over to our panelists page.