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We need a wealth tax, as France has: 0.25% of wealth above some high threshold. Applied to both individuals and corporations, including banks. The money supply has tripled since the start of the 2008 crisis—all that money is in the hoards of banks, corporations, and wealthy with no propensity to spend. Spending *is* the economy. Taxing income is not enough. Taxing spending burdens the poor, gives the rich a pass, and disincents economic activity. Tax where the money is: tax wealth. http://krugman.blogs.nytimes.com/2013/01/08/rage-against-the-coin/?comments#permid=210