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Give us a sense of how bad this could get and at what point will it impact the united states? >> in terms of how bad it could get, i think there is a question for the u.s. investor and a question for what's happening in china. so to put what's happening in china in perspective, the financial economy in china is -- is much smaller than it really should be. if you think about the global economy, there is $600 trillion in assets on 10% of gdp. we expect that to grow to 900 trillion dollars of financial assets by 2020. it's 15% increase. china is going to account for a big share of that going forw...

There's no reason in the world why wage earners should pay such a higher rate on their income than people who live off of investments. it completely skews the -- exacerbates the income inequality problem. and it's upsidedown. we have too much in investment income already. a study i cited in my op-ed showed that by the year 2020 we will have 9$900 trillion of investment dollars chasing only $90 trillion of global gdp. we have way too much investment. we don't have enough work and jobs. so i would get rid of that. that would be at the top. but most of it, clean it out and get the marginal rates ...