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 over the last 12 months — 16 in all, peaking in Jul 2026 with 6.

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Garys Economics · Why does The Economist hate wealth taxes? · 14 Jun 2026 podcast

So to be paying even 1%, you would need to be worth a wealth of 20 million pounds.

So let's assume somebody who's worth 20 million pounds

If you're worth £20 million and you're making 5% a year on your wealth, which is pretty conservative, people at that level of wealth usually make decently more than that, you will be making £1 million passive income a year.

So that's not the money you make from your work, that's just the money that you get passively every year.

So imagine that's you.

You're worth 20 million pounds.

You're making one million pounds a year passive income.

And this is not connected to your work.

So this passive income is going to continue, you know, until you until you die.

And in fact, even after you die.

So you're going to be making a million pounds, a million pounds every single year.

What is going to be your lifetime wealth trajectory compared to a more ordinary person?

So an ordinary person only make income when they're working, they accumulate money when they work, then they dis-save that money when they're old.

A very wealthy person, that money is not related to their work, so they continue to make a million pounds a year every year till you die.

Almost everyone who has that level of wealth will simply grow their wealth year after year after year.

If you have a passive income of a million pounds,

You know, you're going to spend probably, I don't know, maybe 300, 400, maybe even 500,000 pounds a year, which is an enormous amount to spend.

You're going to live an incredibly comfortable life and you will still have half a million pounds or more to buy new assets every year.

And your wealth is going to go up and up and up and up and up and up and up.

So what this means is for an ordinary person, the wealth that they hold at any point in time

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