Can We Tax The Rich?

"it's progress we're even talking about this because when i first started talking about tax what i would often get back is you can't tax rich people rich people are the lifeblood of the economy it's very important for the economy that don't tax rich people i think it's becoming increasingly obvious to people that what is happening with the economy now is not working um the vast majority of people want something done about inequality"

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SOCIAL MEDIA:

Performed by Gary Stevenson
GARYSECONOMICS

Produced by Simran Mohan
MOHAN MEDIA

TIMESTAMPS
00:00 - Intro & Titles
00:25 - Progress
01:00 - Can we tax them?
03:10 - Roman Abrhamovic
03:53 - The Current Tax System
04:40 - They own our country
05:30 - Why don't we tax them?
06:19 - We can do it!

[yogeorgia]

Says everything about this country that this guy isn't all over the MSM. An expert that speaks absolute sense - more of it please!

[dawnwright]

So true. When gov says we can't impose a windfall tax on the richest or raise the taxes on the wealthiest 1% because they won't invest here or they will leave, it's a load of rubbish. Let them leave if they want.

[nad]

Gary I really like the content of your videos. I really do learn a lot about Economics from you in terms that I can understand. Please keep more content Could you do a video on wage stagnation and the idea that some people argue that a wage increase would increase inflation??

[peterscott]

Bravo! You are articulating something very fundamental. If we don’t deal with this everything gets worse.

[moshudoduwade]

A Professor of Economics once said:”The reason why people left the EU is because the people are not educated.” It’s the same reason why the people in this country are not educated when it comes to basic economics. Nice Gary. Keep up with the great work. 😎

[VorosMedve]

Another banging video! Good to see the channel growing

[mytimetravellingdog]

A land value tax (particularly in conjunction with planning reform) would do so much for this country.

I'd be interested to see a video on it. And I wonder how it might intersect with a more general wealth tax.

[calmeilles]

It's finally warm enough for the coat to come off! 😀

Seriously; thanks for articulating what should be obvious but strangely doesn't seem to be. Being a bit radical, we really do need to overhaul our entire tax system.

[dar]

We need you & people like you to run this Country. We’ll never improve things with the current system and shambles or Gov. keep it going Gary. 👌🏻

[Wetglab]

It’s simplistic to say this. Of all the rich people assets get sold then the level of rich just moves lower. This is why the bourgeoisie mentality doesn’t work. What you need it to make asset owning thrive but progressively tax on a moving scale mass to make sure it’s distributed.

[izzytrue]

Yes, we can definitely tax the rich! Unfortunately Tories will never do that. They will always tax the low/middle income - and earn so much money- because there's somannny of us!!!

[tlvision]

A tax on assets already exists. If the assets generates income it's income tax. If the asset pays a dividend it's dividend tax. If the asset increases in value then capital gains tax is paid when the asset is sold. Just set tax levels appropriately and make sure people pay what they owe.

[philclemmons]

Nicely done. But, here's the next question? Once the taxes are raised on assets of the wealthy, do they embrace the loss or do they pass it down to the people who are using the asset that was just taxed? What does the increase do to the middle and working class? I'm all for taxing everything and everyone who uses the resources of a country but we need to do it judiciously without massive repercussions for the ordinary person trying to get by. Flat Tax?

[darriendastar]

Thank you for that. It was like someone turning on a lightbulb in my head. It's much appreciated.

[btsndcts]

The rich like our money too much and if they leave then let them go but they don't get to come back when things get better.
They have got rich off our back so it's time they paid back for that life style

[discokitchen]

Same with the housing crisis. "We're working on it but it's a really complicated". No, not really. Set a wealth tax, build homes, simples.

[wandalozinska]

I love your very clear explanations. Hope that many others will share them widely. Many thanks for taking the trouble to inform us.

[rogermanvell]

If some high earners leave so be it they will gladly be replaced by others, the idea that there isn't a super abundance of equally talented poorer people is absurd.

[junesfunandcrafts]

How do u tax their assets? How do u decide the value of the asset? What happens when the value of the asset loses money, do u give them money back?

[thierry]

In my mind, is sound easier to tax people with lot of money than taxing the people with none.
But that notion is complicated for our media right...