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The political left gets many things wrong, but by identifying billionaires as a "policy failure" they are exactly right. As you say, on average billionaires inherit one-fifth of their wealth ("In defence of billionaires", November 9th). These transfer payments are unrelated to any effort or talent. Therefore, high inheritance taxes would not just be "welcome" but are necessary for a well-functioning capitalist system. Furthermore, the inequality of income and, more importantly, wealth, is a disincentive for the vast majority of individuals who can't expect to be millionaires when they are toddlers (hello, Donald Trump). Research has shown that inequality can suppress economic growth. William Nordhaus conflates billionaires and innovators when he says that the latter collect only 2% of the value they create. To the extent that billionaires have made their fortunes in property, where corruption abounds, or in finance, where "innovations" can remove vast amounts of value in crises, this argument falls flat.

机译：政治上的左派弄错了很多事情，但是通过将亿万富翁确定为“政策失败”，他们是正确的。正如您所说，亿万富翁平均继承其财富的五分之一（“捍卫亿万富翁”，11月9日）。这些转移支付与任何努力或才能无关。因此，高遗产税不仅是“受欢迎的”，而且对于运作良好的资本主义制度也是必要的。此外，收入的不平等，更重要的是财富的不平等，对于大多数无法期望成为幼儿的百万富翁的人（你好，唐纳德·特朗普）是不利的。研究表明，不平等会抑制经济增长。威廉·诺德豪斯（William Nordhaus）称亿万富翁和创新者不满，因为后者只能收集他们创造的价值的2％。如果亿万富翁在房地产，腐败盛行的金融领域或“创新”可以消除危机中的大量价值的金融领域发家致富，那么这一论点就变得平淡无奇了。

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《The economist》 |2019年第9172期|18-18|共1页
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1. Letter-Sound Knowledge: Exploring Gender Differences in Children When They Start School Regarding Knowledge of Large Letters, Small Letters, Sound Large Letters, and Sound Small Letters [J] . Hermundur Sigmundsson, Adrian D. Eriksen, Greta Storm Oftel, Frontiers in Psychology . 2017,第4期

机译：字母有声的知识：在孩子上学时探索他们关于大字母，小字母，大声字母和小声字母的性别差异
2. Presence and viability of Ceratocystis lukuohia in ambrosia beetle frass from Rapid Modified Letter Turned CommaOhiModified Letter Turned Commaa Death-affected Metrosideros polymorpha trees on HawaiModified Letter Turned Commai Island [J] . Roy Kylle, Ewing Curtis P., Hughes Marc A., Forest Pathology . 2019,第1期

机译：Ceratocystis Lukuohia在ambrosia甲壳虫的存在和活力来自快速修改的字母转动的逗号致敬的字母转动逗号死亡影响的MetroSideros多晶型树木在叫乎魔鬼队
3. Invited Response Letter to the Letter "Our Experience Regarding the Association between Gastrointestinal Stromal Tumor and Bariatric Surgery. A Response to a Letter "Gastrointestinal Stromal Tumor After Laparoscopic Sleeve Gastrectomy: Be Awake Before, During, and After a Bariatric Procedure" [J] . Bilecik Tuna, Karateke Faruk Obesity surgery . 2019,第2期

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4. Tests of CPT Symmetry in B~0-{-under letter B}~0 Mixing and in B~O → c{-under letter c}K~0 Decays [C] . K.R. Schubert Meeting on CPT and Lorentz Symmetry . 2017

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5. Women writing letters/writing letters as women: Eighteenth-century representations of female epistolarity [D] . Magermans, Andrea L. 2009

机译：妇女写信/作为妇女写信：18世纪女性表象性的表现
6. Letter-Sound Knowledge: Exploring Gender Differences in Children When They Start School Regarding Knowledge of Large Letters Small Letters Sound Large Letters and Sound Small Letters [O] . Hermundur Sigmundsson, Adrian D. Eriksen, Greta Storm Ofteland, -1

机译：字母有声的知识：在孩子上学时探索他们关于大字母小字母大声字母和小声字母的性别差异
7. Synthesis, Superoxide Dismutase Mimetic and Anticancer Activities of Metal Complexes of 2,2-Dimethylpentanedioic Acid(2dmepdaH 2 ) and 3,3-Dimethylpentanedioic acid(3dmepdaH 2 ): X-Ray Crystal Structures of [Cu(3dmepda)(bipy)] 2 ⋅ 6H 2 O and [Cu(2dmepda)(bipy)(EtOH)] 2 ⋅4EtOH( bipy=2, 2 ′ Bipyridine) [O] . 2006

机译：2,2-二甲基戊二酸（2 dmepda H 2 ）和3,3-二甲基戊二酸（3 < small.letters> dmepda H 2 ）：[C u （3 dmepda ）（ bipy ）] 2 ⋅ 6H 2 O 和[C < small.letters> u （2 dmepda ）（ bipy ）（E t OH）] 2 ⋅ 4 EtOH （ bipy = 2 ， 2 ' 联吡啶）
8. Initial Submission: Letter from Dupont Chem to USEPA Regarding a Letter about Acute Oral and Dermal Toxicity of Allyl Alcohol Vapors with Cover Letter Dated 10/15/1992 [R] . 1992

机译：初次提交：杜邦化学公司向美国环保局发出的关于烯丙醇蒸气急性口服和皮肤毒性的信函，封面信函日期为10/15/1 1992

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