In his best-selling book "Capital in the Twenty-First Century", French economist Thomas Piketty proposes that individuals with incomes above $500,000 should pay a marginal tax rate of 80% on their income and an annual tax of 2% on their total wealth. The purpose of the taxes would be to redress growing income inequality in the United States.

Do you agree or disagree with Mr. Piketty's proposal and why?