The case for taxing wealth, argument by argument.
Income inequality and wealth inequality are different things; stable income figures say nothing about the concentration of accumulated assets a wealth tax is designed to address.
“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 weal”
“Because the whole problem is that those bigger because they have no income. They manage to report no income like Jeff Bezos. Right.”
Raised as a counter-argument to rebut. “Some people might try to say that this is what Gary wanted. This is a wealth tax. So we want to make it clear why they're raising taxes and and why it's not wea”
These assets increase in value without producing taxable income... individuals with billions in unrealised value can legally report very low taxable income.
“money is not real resources but this confusion between money and real resources causes so many problems”
“So, I want to be clear when I'm talking about taxing the rich. It's not about income. It's not about work. It's not income. It's not about work. It's not income”
“the income he gets just from his wealth, the income he gets just from his wealth, the income he gets just from his wealth, not from his work.”
“I always talk about how it's not even necessarily just about what rates we tax income. You know, we have these very, very wealthy families- That's right, we hav”
“the growth in wealth inequality, not income inequality, wealth inequality is being missed.”
“but we don't look at the asset assets but we don't look at the asset assets but we don't look at the asset inflation central banks when they when”
“that we're not talking about jobs. We're not talking about income. Wealth is about assets, physical assets. Who owns the assets.”
“This will draw money from the wealthiest people in our society, the people who get their income from owning assets rather than working.”
“So this argument that we cannot tax the rich because they’ll leave is basically based on a confusion between rich people who are rich because they have a good j”
“Wealth is not about income. Wealth is not about your job. Wealth is about who owns the physical things in your country, the buildings, the property, the natural”
“The thing that jumped out at me was one number was obviously immediately wrong in this story, and nobody mentioned it. So I've spoken a lot about Rishi Sunak’s ”
“Because often when I talk about wealth inequality people think I'm talking about income inequality. This is not about your job. This is about what you own.”
“I was a very successful banker and I earned a lot of money and I paid a lot of tax. I was paying over 60% at the peak of my career. And at the same time as I di”
“that's taxable income but the Duke of estimates the reason he pays nothing is because that is not classified as taxable income”
“income is basically about your job your salary the money you get from working where as wealth is about your accumulated assets uh stocks & shares, property,”
“asset prices have increased enormously in the last 30 years and wages have only increased a bit”
“the work that you do is not really that important for determining how rich you are, increasingly the only thing that matters is how many assets your family has”
“money is not real resources money is I think I described in another video as a competitive resource or a distributional resource money is only used to determine”
“wealth is not income whenever we talk about wealth on this channel we're not talking about your job or your salary we're talking about the assets that you own”
“when we talk about wealth we're not talking about jobs or incomes we're talking about who owns the physical resources um of our country and of our economy”
“that is talking about only income tax so it's saying the people who pay the top one the top 1% income taxpayers are paying 28% of income tax um but actually inc”
“money money is not resources so money is not food is not resources so money is not food is not resources so money is not food money is not energy money is not h”
“we're already taxing earners but we're not actually taxing these very wealthy families”
“whenever i talk about taxing the rich i'm always talking about high wealth individuals & high wealth families it's not about high income individuals or high”
“it's not necessarily people that are earning you know they're owning assets and their assets have shot up in value”
“that's the difference between wealth and income right you can't and that's the point I really want to make which is look this is not this is not about hating ri”
“when we talk about wealth we're not talking simply about money we're talking about physical assets such as property the house or the flat that you live in”
“rishi doesn't pay at least on his income from his wealth because we get our money from our wealth”
“The first thing to do is to make clear the difference between wealth and income right I come from an ordinary family I know that for most ordinary families mone”
“the way the tax system is set up right now it's very good at taxing income from work but it's very bad at taxing people who are just really really rich and make”
“if they leave the properties are still here the land is still here the people who are in debt are still here and the customers for their companies are still her”
“your job is not wealth your job and your salary is a form of income and there's a big difference between income and wealth”
“national insurance does not tax income from assets it only taxes income from work”
“national insurance that is a tax which affects only working people it does not apply to billionaires who get their income from wealth”
“it's important to understand we're not talking about income inequality this is not about doctors and lawyers this is about wealth going to the super wealthy fam”
“Income is about work whereas wealth is about ownership of things the ownership is super super unequal- the rich own almost all of the wealth in society”
“that tax gets charged on worked income but the very richest people they make a lot of their income often most of their income in the case of the richest in ways”
“we need to start looking at ways to tax wealth rather than just income because at the moment we have a situation where the richest in society are able to pay ve”
“we currently have a tax system which is relatively good at taxing people who work for their money and earn a lot of money such as footballers and sometimes bank”
“In my opinion we need to find a ways the tax of truly rich in our society, by taxing wealth rather than just income. This will draw money from the wealthiest pe”