Daniel Priestley

By the way, I'm not exactly against you on companies. I think it's disgusting that a British company can take out a Facebook ad to sell to a British consumer a British product and Facebook pretends to be in Ireland on that transaction.

And Amazon, you can buy something on Amazon in Britain from a British supplier, from a British warehouse, and Amazon pretends to be in Luxembourg in that situation. And that sucks, right? Like, that does not seem fair. And it strikes me as very strange that the government is OK with that. Right now, the government is chasing down mums and dads who sell a few things on eBay.

And Amazon, you can buy something on Amazon in Britain from a British supplier, from a British warehouse, and Amazon pretends to be in Luxembourg in that situation. And that sucks, right? Like, that does not seem fair. And it strikes me as very strange that the government is OK with that. Right now, the government is chasing down mums and dads who sell a few things on eBay.

and chasing them for taxes, but they don't talk to eBay. They're paranoid about someone doing a little bit of a side hustle on Facebook, but Facebook's fine to pretend to be an island. So I don't agree with all of that, right? I think we're missing some serious tricks here. But the idea with... taxing billionaires at wealth, billionaires will just leave. They just get up and leave.

and chasing them for taxes, but they don't talk to eBay. They're paranoid about someone doing a little bit of a side hustle on Facebook, but Facebook's fine to pretend to be an island. So I don't agree with all of that, right? I think we're missing some serious tricks here. But the idea with... taxing billionaires at wealth, billionaires will just leave. They just get up and leave.

And not just billionaires, millionaires. But what do billionaires own?

And not just billionaires, millionaires. But what do billionaires own?

People purchasing stuff.

People purchasing stuff.

Well, that's a consumption tax. This is the thing. That's a consumption tax. No, it's not. VAT is a tax on revenues. You can tax these guys on profits based on where their revenues come from. So it's very easy to move profits internationally. See, Stephen had a Starbucks cup. When he buys that Starbucks... Yeah.

Well, that's a consumption tax. This is the thing. That's a consumption tax. No, it's not. VAT is a tax on revenues. You can tax these guys on profits based on where their revenues come from. So it's very easy to move profits internationally. See, Stephen had a Starbucks cup. When he buys that Starbucks... Yeah.

It's bought from a British company who licenses the Starbucks logo from Luxembourg or somewhere like that. So 15%. So here we are saying, oh, we're going to tax their profits. They say, oh, I wish we were profitable. Sorry. Unfortunately, we had to do that licensing deal with that international corporation.

It's bought from a British company who licenses the Starbucks logo from Luxembourg or somewhere like that. So 15%. So here we are saying, oh, we're going to tax their profits. They say, oh, I wish we were profitable. Sorry. Unfortunately, we had to do that licensing deal with that international corporation.

Okay, so are you telling me…

Okay, so are you telling me…

I'm not saying that you can't do this. I'm saying that the benefits of doing it, it's so hard to tax wealth, for example, or it's so hard to tax millionaires and billionaires, that you end up cutting off your nose to spite your face.

I'm not saying that you can't do this. I'm saying that the benefits of doing it, it's so hard to tax wealth, for example, or it's so hard to tax millionaires and billionaires, that you end up cutting off your nose to spite your face.

For every – like if we create Britain, for example, and we build a brand which is that we're anti-wealth, we don't want you to ever have more than $10 million, if you've got more than $10 million, we punish you. Every young entrepreneur who comes to me and says, Dan, do you think I should start a company here in this country? I'm going to say, well, if you do – they'll take it.

For every – like if we create Britain, for example, and we build a brand which is that we're anti-wealth, we don't want you to ever have more than $10 million, if you've got more than $10 million, we punish you. Every young entrepreneur who comes to me and says, Dan, do you think I should start a company here in this country? I'm going to say, well, if you do – they'll take it.

As soon as you start to make it, they'll take it. If you're successful, if you get investment, they're going to tax your wealth. If you sell the company, they're going to take it off you. I'm going to basically say to that young entrepreneur, don't build your business in Britain. Go start it somewhere that they're more proactive and positive towards entrepreneurs.