Who Actually Pays Taxes?

Rich, Poor, Active Incomes, Passive Incomes, Upper Class, Working Class....
this week Gary explains who actually ends up paying tax...

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SOCIAL MEDIA:

Performed by Gary Stevenson
GARYSECONOMICS

Produced by Simran Mohan
MOHAN MEDIA

TIMESTAMPS

[peterclarke]

I am studying Accountancy (ACCA)as a older person (50 next year) I have become fascinated by the taxation system. It is so heavily weighted towards taxing income as opposed to assets and wealth. Top rate income tax 45%. 20% Capital gains (28% on property). The 7 yr rule on transfer of assets means the financially educated are able pay minimal tax on their assets. I have never seen any one discuss this imbalance on the news. This should be taught in schools!! So people grow up understanding finance. Every time I try and talk to people about it, they roll their eyes and say it’s boring. Please keep making these videos.

[ShaunieDale]

The problem in many respects is that many of the working class simply cannot visualise the concept of income from wealth. Their whole life is geared towards the concept of working for money. As a result they believe that these people are just in incredibly well paid jobs and as such they pay tax like the rest of us. The government plays on this with the propaganda that a low tax economy will benefit us all equally when it is specifically aimed at taxes the rich pay.

[carlosmbaziira]

you nailed it on the head when you referenced the medieval system. The rich chaps never got over how they lost that model, and slowly but surely, are nudging society to go back to that model of regulation.

[steves]

A clear explanation of the inequality of our country! Thanks Gary

[wuybspj]

why is this video, this channel not blowing up, everyone else is in the dark talking immigration and trans rights

[juliewake]

If only everyone could hear this Gary. All the “experts” that the BBC et al interview never talk about this stuff do they?

[lauriedixon]

I gave up studying economics at A level because I thought it was boring. Now, many years later, it totally fascinates me. I have tried to explain taxation to my elderly in-laws who firmly believe everyone is paying the same taxes, and it is our duty to society to do so. They can not understand that inequality exists and will not use any means available to them to save on taxes. It does drive me mad!

[silverseller]

I love these videos, completely honest and clearly explained. We need to get this message out and get people listening.
The younger generation need to wake up and get a bit angry about all of this, they are the ones to make the change.

[lynnhickinbotham]

Tax the ultra wealthy and close the loopholes
Gary you are awesome ❤

[SkepticalTeacher]

Your explanations are great, but if you used a whiteboard with pictures it would be even clearer and more accessible (just a suggestion from a teacher!). ♥

[robertwinslade]

One of the most underrated channels on Youtube

[mauricerevelle]

I have been trying to explain this to people for years. All I received was to be shouted down and laughed at. They all knew better. Felt like the character in the Kristy MacColl sung about in her song "Free World" ( Great track, give it a listen ) . I could chat to you for hours. Glad I've found you on here.
I'm not the only one who sees it all.
Great work mate.
All the best Mo .
From a council flat in North London

[justgarry]

Another wonderfully cogent video which explains in a down-to-earth way exactly how the owning class make, retain and grow ‘their’ money. I’ve shown some of your videos to my son, who has a 1st in economics and he has become a fan saying yours is the clearest explanation of what is truly going on that he has ever heard.

[Keith]

Very good and clear Gary on demystifying things. Keep it going.

[lyndaleonard]

Love your honesty and openness, really informative a real eye opener 👌

[dizzyrosecal]

Another great video explaining things clearly and concisely. Thank you, Gary.

[pierremartini]

Excellent video as always. Your explanations are really clear. Everyone should be watching these.

[rajaramfan]

Your videos are brilliant and explain things so clearly. The net result is that I now feel strongly like leaving the uk. I earn a comparatively high salary and still can’t buy a house

[araweelospirit]

So glad this video is straight to camera and no fancy film tricks, which I hate

[scottandcoke]

Clear, concise and easy to follow explanation. They should show this in schools. Great vid.