Gary Stevenson on taxing the rich and why you're getting poorer | WTCTW podcast

Why are the rich getting even wealthier while the middle and working classes continue to struggle? Former top trader Gary Stevenson - the star behind popular YouTube channel @garyseconomics - breaks down how wealth inequality is driving down living standards for the middle and working classes on this episode of Ways to Change the World.

He tells Krishnan Guru-Murthy how the rich grow their wealth through passive income and investments, while ordinary people fall into debt, and argues that low interest rates, tax policies, and government responses to crises like 2008 and COVID-19 have mainly benefited the wealthy, deepening the financial divide. And finally, he urges people to educate themselves and push for change before inequality spirals further out of control.

Produced by Silvia Maresca.

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[roochie]

Only watched because of Gary. It's beyond time we had fair tax reform, a wealth tax of the super rich and closed all loop holes that enable the super wealthy to funnel it away from the economy.

[JimmyTheGiant]

27:00 nailed it here, we need to get ordinary people to have money in their pocket to make Britain worth investing in

[raminasr]

Speaking as an American, I am in awe of such a deep and intelligent interviewee *_and_* interviewer pondering questions and bouncing ideas back and forth on a trajectory of pure logic and objectivity. Most of what I watch these days makes me dumber. This video made me profoundly smarter/more enlightened/better informed.

Its the distribution, stupid!

[Raf-cn]

I’m tired of politicians promising to ‘tax the rich’ while my savings shrink. Retirees like me aren’t getting a dime from their empty promises. It’s time to stop relying on the system and start relying on ourselves

[garyseconomics]

Just a quick one boss you've misspelled my surname in the description, it should be with a V.

THANKS
xx

[markconnolly]

There is many of us behind you Gary. Please keep driving this.

[jez]

We need more people like Gary. Intelligent, insightful, not consumed with greed, and willing to criticize those in power/ultra wealthy that are destroying the middle class. We are in a class war whether people can admit it or not.

[escapehatchwellness]

I’m so grateful that I discovered Gary. While he’s rich now, he wasn’t born rich and didn’t grow up with a silver spoon in his mouth. Now to comment on his point about the income ratio to the price of housing … my great grandparents owned their own home. My grandparents owned their own home. They didn’t own to rent their homes out, they owned to raise families. Today I live in a wealthy county where the average home price is $850, 000 (and no mistake on the zeros) but the average income is $48, 000. Houses that cost $250, 000 before the pandemic are listing at $750, 000! It’s insane and a system that cannot support the work force. Keep sharing Gary and keep following him!

[willb]

Gary at his best! Outstanding work by Krishnan, who feeds Gary all the right questions and arguments, then lets Gary speak and he actively listens. thanks Krishnan, this is pivotal!

[WHO_REMEMBERS_PROPER_BINMEN]

My town used to have a debenhams, house of fraser, and BHS just a few years ago. They're all gone now. Replaced with cheap stores like B&M or home bargains. It's pretty clear the middle class is rapidly dying just by looking at the high street.

[andrewmcgarry_]

History will show Gary was right. But by the time people realise, it will be too late. “You will own nothing and you will be happy”

[rachelzmusicofficial]

“The rich are growing their wealth at 5% and eating your cake. We must reduce inequality by taxing the rich”
You rock!❤

[henrymilleruk]

The biggest thing that’s come across here is taxing WEALTH is different to taxing EARNINGS so many times those wires got crossed. People need to be educated on the concept of wealth it was the biggest thing I learnt from these videos.

[lightweightben]

I’m in the top 1% of income. I pay a huge proportion of my income in taxes. But my savings are now getting returns greater than my rate of savings. Returns from unearned income will eventually exceed earnings from work, and are taxed at a lower rate. There should be taxes on wealth, or it is inevitable that 99.9% of people will not own anything while 0.1% have it all. That 0.1% are manipulating the conversation to convince that 99.9% it’s not them to blame.

[keiralx]

Theyre starting to pay attention Gary - keep going!! Amazing explanations, so simple, so true

[SallyGreenaway]

Not even 5 minutes into the video and it's a brilliant summary. This guy is so articulate and very good at explaining and arguing his revelations in a way that makes literally perfect sense

[Eveseptir]

I've watched Gary repeat his view a few different times now and while the message is the same, his argument is now much more concise, practical and supported with examples. Don't stop man, I've got everyone I know on board (Most of them are quite conservative btw). They ask me how can we tax the rich if they are so good at hidding their money? I say: simple, don't go after the rich, go after the wealth.

[DJLDomino]

I've watched Gary on several of these now and this was by far my favourite. Say what you will about Krishnan but he is a proper interviewer and unlike podcasts' tendancy to pander to guests, he pushed Gary and Gary had a clear and coherent as argument nearly every time.

In an era of frankly p*ss-poor politicians when it comes to understanding your subject matter, Gary was able to deliver his message with passion and precision.

[Kicklighter.A]

Finally he’s defined who the rich are. 1 percent on wealth over £10 million. I can totally get behind that.

[Fiona-eq]

One of my biggest financial mistakes was not being born in 1930 and dropping $100 into the S&P 500.