. >> so this is why thomas piketty in his book, "capital in the 21st century," is concerned about this enormous transfer of wealth that is about to happen from all the billionaires and multi-millionaires transferring their money to the next generation. >> that's right and a quite legitimate concern that we are creating a new plutocracy. and so what i've been trying to argue in this paper is that doesn't have to be. we can have a tax system that can help create a fairer society. only ask the people at the top to pay their fair share. it's not asking a lot. it's just saying, you know, those in the top one percent shouldn't be paying a lower tax rate than somebody much further down the scale. shouldn't have the opportunity to move his money offshore and keep it in an unlimited ira account. and that's what really what my work has been about, to try to explain what's going on, to try to explain that it's not inevitable, that it's not just a matter of economics, that it is a matter of policies and politics, that there are alternatives. but that they won't happen on their own. that there are