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Gary Stevenson

πŸ‘€ Speaker
3054 total appearances

Appearances Over Time

Podcast Appearances

Garys Economics
Why does The Economist hate wealth taxes?

The reason I make these t-shirts with Tax Wealth Not Work is to make it clear I am the one who is on your side and trying to keep your taxes low.

Garys Economics
Why does The Economist hate wealth taxes?

listen you hate tax i hate tax but if you oppose the taxation of the people who are going to take all of your assets it will destroy your welfare state and it will drive your taxes up listen look at what's happening now we have the highest taxes ever at the same time as a disappearing welfare state that is what happens when your government goes massively in debt to the super rich

Garys Economics
Why does The Economist hate wealth taxes?

The only way to protect the welfare state that your grandparents died for is to tax the rich.

Garys Economics
Why does The Economist hate wealth taxes?

So look, you know, I think what's happening here is, you know, me and obviously, you know, the cover of The Economist is like Zach Polanski and Zoran Mamdani, who are kind of like the big faces of the English and American left.

Garys Economics
Why does The Economist hate wealth taxes?

This idea of like taxing the very rich has has come to be like branded by a lot of the media as like this, like far left idea.

Garys Economics
Why does The Economist hate wealth taxes?

But like, it's not a far left idea.

Garys Economics
Why does The Economist hate wealth taxes?

You know,

Garys Economics
Why does The Economist hate wealth taxes?

if you want ordinary people to own property you have to be supportive of taxation of the very rich you know under the current system where you have a billionaire class paying almost no taxes it is just mathematically obvious that in a very short period of time because of the power of compounding interest they will own everything and that means you owning nothing

Garys Economics
Why does The Economist hate wealth taxes?

So this doesn't have to be, and I don't think it should be, about left versus right.

Garys Economics
Why does The Economist hate wealth taxes?

This is about, do you want your kids to own houses?

Garys Economics
Why does The Economist hate wealth taxes?

Do you want your kids to have financial security?

Garys Economics
Why does The Economist hate wealth taxes?

And I'm really interested in the guy who wrote this article at The Economist.

Garys Economics
Why does The Economist hate wealth taxes?

How rich are you?

Garys Economics
Why does The Economist hate wealth taxes?

How rich is your dad?

Garys Economics
Why does The Economist hate wealth taxes?

If you're not worth 10 million quid,

Garys Economics
Why does The Economist hate wealth taxes?

What the are you doing?

Garys Economics
Why does The Economist hate wealth taxes?

And not just the guys who write these articles for The Economist, but the guys who are in the political parties, working for the think tanks, who are opposing wealth taxes.

Garys Economics
Why does The Economist hate wealth taxes?

What are you doing?

Garys Economics
Why does The Economist hate wealth taxes?

What are you doing?

Garys Economics
Why does The Economist hate wealth taxes?

And I think we have this kind of sometimes instinctive conservatism from people who are towards the top end of the social hierarchy that just don't want to shake up society.