Thomas Piketty vs. Billionaire Heroes

  • Aired:  06/02/14
  •  | Views: 43,938

Thomas Piketty writes a best-selling book criticizing the free market system, and Stephen shows his support for beleaguered billionaires. (3:56)

(CHEERS AND APPLAUSE)>> WELCOME BACK, EVERYBODY.

NOW FOR THOSE OF YOU JUSTTUNING INTO "THE COLBERT

REPORT" TONIGHT I WANT TOASSURE YOU THAT YES, YES,

THIS IS HAPPENING.

(LAUGHTER)AND I GREW IT SPECIFICALLY

TO GO TOE-TO-TOE WITHTONIGHT'S GUEST FRENCH

ECONOMIST AND PROFESSOR WHOSEDUCES YOUR GIRLFRIEND

DURING HER SEMESTER ABROAD.

THOMAS PIKETTY. THISFRENCH-FRIED FRAUD

IS ATTACK OUR WAY OFLIFE FROM ATOP

THE BEST-SELLER LIST.

THE NUMBER ONE BEST SELLINGBOOK ON AMAZON RIGHT NOW, A

700 PAGE TOME PACKED WITHTERMS LIKE DISEQUALIBRIA

AND RICARDIAN. THE BOOK HASALREADY SOLD ABOUT 85,000 COPIES

INCLUDING eBOOKS AND THEHARVARD UNIVERSITY PRESS HAS

ORDERS ON HAND FOR ANOTHER90,000.

AND EVERY ONE IS TALKINGABOUT IT.

>> THIS BOOK IS LIKE THEHARRY POTTER OF ECONOMIC

POLICY.

>> WHOA.

>> IT'S TRUE.

IN FACT, THE FULL TITLE ISCAPITOL IN THE 21st CENTURY

HARRY POTTER AND THE DEATHLYBORING.

(LAUGHTER)IT'S YOUR CLASSIC BREEZY 700

PAGE HEAVILY APPENDIXED BEACHREAD.

BUT ANALYZES OVER 200 YEARSOF ECONOMIC DATA FROM 20

COUNTRIES.

AND THE BIG TAKE AWAY, FOLKSIS THAT THE FREE MARKET

SYSTEM HAS A NATURALTENDENCY TOWARDS INCREASING

THE CONCENTRATION OF WEALTHBECAUSE THE RATE OF RETURN

ON PROPERTY AND INVESTMENTSHAS CONSISTENTLY BEEN HIGHER

THAN THE RATE OF ECONOMICGROWTH, G.

WHICH HAS BEEN REDUCED TOTHE CATCHY FORMULA R IS

GREATER THAN G.

(LAUGHTER)YOU'VE SEEN IT ON ALL THE

T-SHIRTS.

OR YOU WILL BECAUSE I'M NOWSELLING THESE T-SHIRTS ON MY

WEBSITE.

(CHEERS AND APPLAUSE)OKAY.

ALL RIGHT.

OF COURSE ALL PROCEEDS GOESTO ME SO I CAN PROVE THAT

THIS IS TRUE.

AND FOLKS, THIS FORMULA ISNOTHING NEW.

REMEMBER THE OLD SAYING THERICH GET RICHER AND THE POOR

SHOULD REALLY TRY BEINGRICH.

IT'S NICE.

(LAUGHTER)AND HERE'S MY MAJOR BONE TO

PIKETTY WITH TOM.

HE THINKS WE NEED APROGRESSIVE GLOBAL TAX ON

CAPITAL THAT COULD SKYROCKETTO A PUNITIVE 80% TAX RATE

ON INCOMES ABOVE 500,000DOLLARS.

80%. THAT'S AN INCREASE OF -- --

80%. THAT'S AN INCREASE OF -- --

80%. THAT'S AN INCREASE OF -- --

80% MORE THAN I PAY NOW.

>> I'M NOT GOING TO TAKE IT FROMTHIS

PEPE LE PUNITIVE TAX RATE HERE.

AND HERE'S WHERE THIS COMESIN.

OKAY? YOU KNEW IT WAS COMING.

I GREW THIS IN SOLIDARITY MYPERSONAL FRIEND BILLIONAIRE

INDUSTRIALIST TONY STARK. SEE,IF PIKETTY HAD HIS WAY AND TONY

WAS COUGHING UP 80% TAXES, HE ISNOT A BILLIONAIRE ANY MORE

AND CAN'T AFFORD TO BEIRONMAN THEN WHO IS SAVING

NEW YORK FROM THE INVADERS,HAWKEYE, YEAH, AFTER HE GETS

THERE ON THE BUS.

BILLIONAIRES, BILLIONAIRES,BILLIONAIRES PROTECT US.

AND TONIGHT I PROTECT THEM.

I GOT YOUR BACK, TONY.

(LAUGHTER)WHEN WE RETURN I WILL SIT

DOWN WITH FRENCH ECONOMISTTHOMAS PIKETTY SO I CAN GIVE

HIM A PIECE OF MY MIND WHILEDENYING HIM A PIECE OF MY

WEALTH.

WE'LL BE RIGHT BACK.

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