I was listening to an interview with the economist-du-jour Thomas Piketty the other day wherein he remarked in passing that the marginal tax rate in America for a good chunk of the mid-20th century averaged over 80%.
His point was that a relatively high marginal tax rate obviously didn't kill capitalism.
There is a move afoot to discredit Piketty, based on his alleged tendency to cherry-pick the stats that support his thesis. Why that's news puzzles me; isn't that what academics do?
In any event, that doesn't impact his observation that capitalism can thrive with substantially higher tax rates than the rich enjoy in the modern era.
But it might cost a few Bentley sales. As you know, Bentley is the pinnacle of the Volkswagen brand. I have a hunch that the Volkswagen brand will survive a handful of lost Bentley sales.
As for that Bentley you can lease for $3,250 a month, that special offer comes from Bentley Toronto and is featured on the front page of the "M" section of today's Globe and Mail.
No doubt that's a nice piece; all the performance of a Mustang GT without the stigma of low price.
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