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
Why is that happening?
The answer to that, I think, is because you are increasingly competing with a class of unbelievably rich people who are making 30 million dollars every single day for the ownership of the assets in the world.
You know, if you look at the countries and the places in history where housing is affordable, they are countries that do not have incredibly wealthy billionaire classes, you know, like Europe in that.
the period after the World War II.
And if you look at the countries where housing is unaffordable, like now, these are places where you have these super wealthy billionaires.
They're buying everything.
Of course they're buying everything.
It's not just housing that's getting expensive.
Assets in general are becoming expensive because you're competing with billionaires.
Okay, but the five whys, okay, we keep asking, okay, well, why?
Why do we have a super, super wealthy billionaire class now, when we didn't have that in the 50s and the 60s and the 70s and the 80s and the 90s when housing was much more affordable?
Well, the answer is quite simply because in the 80s, we stopped taxing billionaires, effectively.
We used to have very high rates of tax.
In the golden age of capitalism, after World War II, we had incredibly high rates of tax on the rich.
In this country, I think we had 95% top income tax, 90% top inheritance tax on the very rich.
What that meant was rich people like Jeff Bezos were not able to do this thing where you have an enormous amount of income and you just reinvest it and reinvest it and reinvest it and you get compound interest and it grows exponentially and eventually I own the whole world.
Okay, so why did that happen?
Why did we stop taxing the super rich in the 80s?
The answer was because we lost an argument about
tax and inequality and distribution.
Showing 3741–3760 of 5,834 · page 188 of 292
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