Gary Stevenson
speaker
5,834 appearances
16 recordings
3 series
first heard Apr 2026
last heard 26 Jul
Gary Stevenson’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 — 16 in all, peaking in Jul 2026 with 6.
Appearances
Seizing the assets of society's most productive people is a road to economic ruin.
But the most interesting thing that they said, I will get into those specific arguments later, but I really want to focus on the one specific thing they said next, which I found to be really, really interesting, which is this little bit at the end of the article.
where it says the tax system must ensure that meritocracy prevails over inheritocracy, broader based inheritance taxes.
And when I heard this, I found this incredibly interesting and I'll explain why.
So in the last one year, I've been doing a lot of basically lobbying of kind of fancy people, politicians, economists, academics, tax lawyers, trying to convince them to do wealth taxes.
And this exact argument
which the economist makes here in in this week's edition that no we definitely shouldn't do wealth taxes and it's very very clear in this article and in previous articles they've published that they're very anti-wealth taxes this idea that we shouldn't do
wealth taxes but we should do more inheritance taxes is an idea that i find so interesting and has come up a couple of times in the conversations that i've had with sort of powerful sort of influences in the political world here in the uk and every time i've heard
Somebody say to me, oh, we definitely shouldn't do wealth taxes, but what I really want us to do is more inheritance taxes.
I find it like an incredibly interesting line of argument to take and
In order to understand why it's so interesting, you basically need to understand what wealth taxes are and why wealth taxes are so important in our current economy.
So the difference between a wealth tax and an income tax is income taxes tax you on the money you make every year, whereas wealth taxes tax you on the stock of wealth
that you have.
And the reason that they're so important in the current tax system is our current tax system as it is, is very effective at taxing primarily high earning workers.
So if you are
making your money from your work and you're earning a lot of money, you're probably paying 50 or even 60%.
At the moment, the highest marginal rate of tax in the UK, if you include everything, including student loans, is more than 70%.
So we're aggressively taxing high earners
but we are really not effectively taxing the very rich.
People have enormous amounts of assets at all.
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