It would encourage self-sustaining growth instead of fly-by-night profits, made in the present at the expense of the future - ie let the market sort out which sectors are more likely to bring better long term outcomes, considering the current focus on short-term is a negative externality that should be fixed by government intervention.
The author also properly acknowledges that increasing tax on the top 1% will only be redistributive, and increase consumption - which might certainly have better effects on consumption than leaving that money to the top 1% who might keep saving it while there is no current shortage of capital.
But that is only a mechanical property of the progressive tax scheme (lower tax for lower incomes), which makes the redistributed money more likely to be spent instead of saved (or paid in tax) - yet as the author points out trading consumption for consumption is pointless given the current state of the economy.
It's quite a interesting time.
It seems like the current situation is not just a demand shock which can be treated with Keynesians stimulus, but a new kind of shock based on a slowdown of the progress of technology - especially of the "empowering kind".
I wonder how this will make us reassume the traditional models such as Solow (technology drives long term growth) or Romer (technology and education), since it now seems there are different kind of technology and education that we should invest in - and some that we should consider as negative externality (like humanities - I have nothing against such studies, but they should not be on the taxpayer dime)
Introduction to Solow model : http://en.wikipedia.org/wiki/Neoclassical_growth_model
Introduction to Romer model : http://en.wikipedia.org/wiki/Endogenous_growth_theory