Callum Williams
speaker
79 appearances
1 recordings
1 series
first heard Jul 2026
last heard 23 Jul
Callum Williams’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
in tax.
If you're looking at, say, the top 400 to 500 people in the US ranked by wealth, they have an effective tax rate of 45% to 50% a year.
Now, you might say it should be a lot higher than that.
And in this particular bit of research, we're not broaching that question.
But it's not clear from looking at the evidence that gaming the economy or gaming the tax system is why so many billionaires are being minted.
Okay, so I can see one way in which it makes no difference and two ways in which it does make a difference.
So one is, if you're concerned about very rich people having a lot of influence on politics, it doesn't matter where their money came from.
If it's bad, it's bad.
But then the other two things, so one is, there's a sort of justice argument.
It feels much more legitimate to tax someone very heavily if they've accumulated their wealth illegitimately than it does if they've made their money in a good way.
And the other thing is that the economic cost of taxing these people is potentially higher.
So if they move away, you are losing genuine entrepreneurs rather than people who've just screwed over the system.
Lionel Messi moves away from your country because the tax system is unfavourable to him, your country's football team will be worse.
And if you lose the owners of Panda Express, you're going to have worse quality takeaway Asian food than you did before.
So there's clearly more of a cost of doing this.
So I think in that sense too, the argument for wealth tax does become less powerful.
Thanks, Rosie.
I'll tell you a story about Larry the Cat because Larry has been in Downing Street for a long time.
Can we see Larry, please?
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