Why Rich People Get Richer

"Rich people get richer because we give them all of our money. They use that money to make themselves richer and us poorer, if we don't do anything about it, things will get worse and worse and worse. So i would encourage you please to support me and this channel in pushing politicians to make a wealth tax happen to make things more equal going forward"

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Performed by Gary Stevenson
GARYSECONOMICS

Produced by Simran Mohan
MOHAN MEDIA

[MrWillyMrBrightside]

It's a rainy Sunday afternoon, I've just got myself a big mug of coffee, why not binge-watch some GarysEconomics videos so I can finally explain to my stepdad and other people his age why I think the financial system is a mess and on the verge of catastrophe for everyone else

[mere_cat]

Thomas Picketty's formula explains it pretty succinctly: r (rate of return on capital) > g (rate of growth in the economy). As Gary explains, it is about money flows. While the government technically has the power to print money and distribute it wherever they see fit, the money has to end up somewhere. If the government doesn't a) tax the wealthy and directly recycle the money back into the economy, or b) force the wealthy and corporations to reinvest profits in their workforce via regulation/taxation, inequality is guaranteed to increase.

[quokkapirquish]

Spot on!
The inflation that we are now facing is squeezing the average household into an uncomfortable new reality. Hopefully, people will turn to politics to vote out those who are maintaining the current broken system. We really can’t go on like this

[EarthPoets]

Nicely explained Gary. Now we know we're trapped, what can we do?

[uetuycf]

I'm looking for translating the stuff you're talking about on Polish side of Youtube, but I struggle to find channels explaining these matters that effectively and straightforward with the proper energy... Gotta keep looking deeper 💪

[simeonovs]

Great content man, started following you recently, keep going up and don't give up on producing high quality content !

[dellwright]

Gary - could you devote a video to explaining how wealth taxes would work in practice? i.e., How to structure it practically so you don't just get capital flight from rich people leaving the country. I agree with your basic analysis but we need practical workable solutions.

[anthonysteel]

Privatisation of public services is the biggest scandal of modern times.Services are no better than pre-privatisation, in many cases much worse but in every case hugely more expensive.The very idea that nothing can exist unless rich people are making themselves even richer out of it is mental.

[mdhazeldine]

Best explanation I've heard so far. Very good.

[peterdollins]

You're doing good work lad. Keep it up.

[CloudhoundCoUk]

Many of the benefits UK citizens have experienced were established after the second world war. Sadly NHS, education, welfare etc. are fast becoming memories. Historically such benefits are just a blip. The UK political ruling class wants to return to Georgian times and a re-introduction of the workhouse to remove those who are economically inactive. In the end, the current economic model will implode. It is totally unsustainable.

[tominkerry]

Does not come more straightforward than this. The problem I have is not so much a 'wealth tax' but what does the government then do with this money. History would suggest it will not go to the people that need it most.
Another way to spread the wealth around is to mandates public companies to give a portion of their wealth back to the workers who create it in the first place.
More competition is needed at all levels of our society and this can only come about through government policy.

[darrenchristian]

Is this not the model of rentier capitalism? Purely a form of extraction of wealth without any re-investment or pay back into improving society. The idea of trickle down has failed. Also, could you cover the laffer curve which is always being quoted as showing lower taxes mean higher tax revenues, but we are beyond the point of where lower tax = increased revenue as less incentive to avoid tax. Keep up the good work, Gary.

[calibrepowa]

Such a great video. Subbed and look forward to binge watching your stuff.

[vedicleo]

I'm sorry to sound really dumb here, but I don't understand how if you are paying off a mortgage for a house, you are paying a rich person? Is it because banks are privately owned?

Thank you for sharing your knowledge and empowering people to understand these issues.

[mooremoneymakin]

Brilliantly explained - keep preaching!

[zeea]

Getting rich is with investing in wealth accumulating assets.

[Skylark_Jones]

Seems my comment was deleted even though I gave constructive advice. I want your message to get out there: finding the quickest way to do it is a real issue.

[elliotcrossan]

This is why we need to abolish private ownership of the means of production

[iantheinventor]

I’ve met inventors with ideas that would save money, reduce vehicle emissions, help disabled, recycle old IT equipment, what I’ve seen is their opportunities are scuppered because they won’t bribe buyers. Friend invented lights that were more energy efficient than the big companies, they were cheaper to buy & had better light output. You’d think councils would snap these up but companies did what he wouldn’t & they gave buyers stuff. Those buyers cost councils & taxpayers money, one buyer got a holiday for their family to Disneyland.