Thomas Piketty, a French economist, a leading expert on income and wealth inequality, and author of “Capital in the Twenty-First Century,” recently wrote an opinion piece looking at the current political diversity in the U.S. from the eyes of our world neighbors. At the same time, Maine citizens are being inundated with political appeals for “fair taxes” from all sides of the political arena. The key to this puzzle begins with a compare and contrast of the disparity that occurs when defining what is meant by “fair taxation” or regressive versus progressive taxation.

Keeping this discourse simple is not easy. The wealthy tend to use income data that demonstrates they pay the majority of dollars spent under the federal budget. A 2015 Pew Research report reflects incomes above $250,000 were 48.9 percent of all 2013 personal income taxes. Those less than $50,000 paid 6.2 percent. The summary statement then indicates the rich pay the most taxes and by that statement “taxation” is “fair” — correct or not?

We are forgetting all of the sources of “income” including overseas income, corporate income etc. Corporations found ways to reduce their tax bills, from running income through subsidiaries in low-tax foreign countries to reincorporating overseas. Other figures to measure show the adjusted gross domestic product (GDP) has risen 149 percent while corporate tax receipts rose 84.5 percent.

Piketty picks up the inequality pieces from there as U.S. changes began after successful civil rights laws were implemented followed by the 1998 tax reforms that were kicked off after Reagan froze the federal minimum wage. Oppressive wages, and reducing taxes of the ever-increasing wealthy individuals and corporations, causes Piketty to read Bernie Sanders’ success as an indicator that America is tired of rising inequality — a sign the economic canary in the mine can be rescued returning equality to the people.

Jarryl Larson

Edgecomb