Taxing the Rich = Growing the Government?

I want the rich to pay more tax – and you to pay less.

UNDERSTAND, SHARE & PUSH BACK

SUBSCRIBE, SHARE & START A CONVERSATION

Performed by Gary Stevenson
@garyseconomics

[ncammann]

I don't want to be rich. I just don't want to be poor.
I don't want to keep paying more and more for my water, when the money isn't going to make the water any better, but is going to already wealthy shareholders, most of whom are foreign governments or royal families.
I want my National Insurance contributions to actually go to the NHS to provide a decent service and not to contractors, and their shareholders and overpaid CEOs.
Privatization has been a monumental failure.
Th PFI (Private Finance Initiative) has also been a disaster. Privately built schools tied in to 10 or 20 year contracts. With more and more money going to the contractors and not the schools to improve the education or even decent school meals for the children.

[fxylady]

I would like Gary to do a video focusing on the argument that if you tax the super rich highly, they will take their business out of the country. I know he's tackled it in passing in previous videos but something in more detail with examples would be really useful.

[TheMainhood]

Amen brother, protect this man at all costs before he’s silenced by the mega rich!

[Haawser]

Biggest 'stealth tax' is essential services. Which used to be publicly owned, but now pump billions in excess profits into already rich corporations and ultra wealthy shareholders. Those assets would be good to start with if you want some back.

[MrGavinBoyd]

We’ve had Thatcherism since 1979 which serves the interests of the (mainly overseas) wealthy. The problem with Thatcherism is that you eventually run out of assets to sell to overseas investors so that they can rip off British consumers.

[daveuk]

"war is a about taking assets". Wow! That is a battle cry!

[stevepetty]

The momentum for reducing the wealth gap is growing. In The UK and US. Huge problem. Needs fixing before a fix becomes impossible

[edmurth]

When Labour announced they wouldn’t increase income tax everyone’s instant reaction is that you can only get top earners through the top rate of income tax, most people don’t realise that top earners don’t pay any income tax.

[micromachineswasgreatonseg]

The class system "lords and ladies" in UK is insane, wealth inequality is ingrained deep

[victorisaac]

Gary I understand your mind set. However how do the government tax the super wealthy. It needs a government of ordinary people who have the people’s interest at heart. Almost all the government is full of super rich people or are in the super rich pocket. Policy is made to favour these very people. Change must come from anew government party from scratch.

[StevieWeevie-qjfp]

Brilliant !
Easily understood by anybody!
Are we going to see you on BBC’s Question Time so a larger audience can hear your message??

[nhero]

Hi Gary, you talk each week about increasing taxes on those who have wealth over £10m. I'd love to see a video covering two topics. 1. What new taxes/changes would you levy and how would you implement them e.g. property, dividends, share buy backs, share holding etc. and 2. What measures would you introduce to tighten up on exploitation of loopholes and other questionable avoidance activity (Nadhim Zahawi comes to mind). If it's not your area of expertise, maybe invite some guest speakers on?

[waikanaebeach]

Don’t tax the income, tax the wealth. Anything bar your primary residence over £10m should be taxed at 2-10%. This is forced redistribution and works!

[timbennett]

Assets held by the very rich are largely held in trusts rather than by the individual - this makes taxing wealth much more difficult. Trusts need to be abolished or reformed so they are taxed like an individual or company are. It will also prevent the very rich from avoiding inheritance tax, which is one of the simplest ways of transferring wealth back after someone dies

[dinogreece]

I love the way Gary just cuts through all the noise and petty arguments about politics, culture wars etc. He informs us of the clear facts of what is really happening to our country's wealth.

[zonewolf]

I highly respect you for your patience in explaining such an elementary and intuitive concept to people. Just wish people understood that convoluted financial systems have often been concocted just to confuse the plebs and exist to exert power over those who aren't 'in the know'.

[peterdollins]

Excellent video. Also houses/flats/blocks are left empty by the rich for tax reasons. A weekly doubling tax--£1 to £2 to £4 to £8 up the scale--will force the sell of these properties in short time. Builders have what they call Land Banks, land they do not sell for tax reasons. Also put a weekly doubling tax on all Land Banks to force them to sell or to build on the Land Banks. If we want cheaper rents less expensive places to live in this is essential.

[seanmichaelo]

I understand the message & agree in principle… I have a business that works for a lot of sectors that tax is distributed to, like the NHS & MOD. The problem I see, is I’ve seen first-hand corrupt people within these sectors asking for / accepting / operating shady through bribes & alike. The waste is next level. one example I witnessed was a £3m office refit that was mothballed & closed after 6 months of re-opening. Utter waste of public funds.

[Leehuss]

GaryNomics should in my opinion be taught in high schools early on as to not fall in the traps that have been laid out....
👍✌

[SMPFJ]

I am living in Germany. I am in about a 40% to 45%% tax bracket. I would gladly pay more in tax if I felt everyone got taxed at the same rate except for the very poor who should obviously pay almost no tax. Assets need to become more available to people like me and you, the people watching this video. Good people who deserve more from their time at work.