In Britain, as in other countries, more than a quarter of the income tax is paid by 1 per cent of the population. But this is not enough for the Professor, irrespective of whether increasing the rate would increase the take (the purpose of tax being primarily symbolic). He would like capital to be taxed too, from above the not very high limit of $900,000. This would increase both equality and efficiency, according to the Professor, in so far as the money raised would then be redistributed and invested productively by the philosopher-kings of whom the professor is so notable an example.
All this is to be done in the name of what Piketty calls solidarity. ‘If Europe wants to restore solidarity with its citizens it must show concrete evidence that it is capable of establishing cooperation’: that is, it must raise taxes on the prosperous. Overlooking the question of what Europe actually is, or how it is to be defined (I suspect that the Professor thinks it is not continent or a civilisation, but a bureaucracy), this seems to me the kind of solidarity that only someone suffering from autism could dream up, solidarity equalling taxation administered by politicians, bureaucrats and intellectual advisers.