Against a wealth tax economic

The UK is relatively equal by global comparison

Points to international wealth-Gini rankings — e.g. the UK around 140th of 171 on wealth inequality, a little below Denmark and above Japan, with only ~31 countries more equal — to argue the UK already distributes wealth fairly and so needs no wealth tax.

2 counters
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The counters

Global Gini rankings don't show fair distribution International wealth-Gini comparisons are a poor guide to fairness: scores are compressed near the high end for almost every country, and nations that rank as more unequal (Denmark, Sweden, the Netherlands) do so largely because many households carry large debts and negative net worth, which mechanically inflates measured inequality. A middling rank is not evidence that a country distributes wealth fairly. Curbs extreme inequality Concentrated wealth is economically destabilising and politically corrosive; a wealth tax rebalances economic power.

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Reddit / long form

You're making the "The UK is relatively equal by global comparison" argument against a wealth tax — but wealth-Gini rankings don't measure what you think. Wealth is counted net of debt, so several countries that score as *more* unequal (Denmark, Sweden, the Netherlands) do so largely because lots of their households carry big debts and negative net worth, which mechanically inflates measured inequality (UBS/Credit Suisse Global Wealth Report — Denmark has the highest average debt per adult, and Sweden's bottom 50% hold a negative share of wealth). Wealth Ginis are also squashed up near the high end for almost everyone, so "only 31 countries are more equal" is not evidence that the UK distributes wealth fairly. It's the equivalent of answering "you could be starving in a desert" — a relative ranking says nothing in the face of ultra-consolidated wealth and rising poverty at home.

Learn more: https://wealthtax.now/arguments/uk-equal-by-global-comparison/

X / Bluesky / short form

You're making the "UK is relatively equal globally" argument against a wealth tax. Wealth Ginis are net of debt, so countries ranked "more unequal" (Denmark, Sweden) score high mainly because households carry negative net worth. A middling rank isn't evidence of fair distribution. https://wealthtax.now/arguments/uk-equal-by-global-comparison/

Backed by

Global Wealth Report — wealth-Gini comparisons and negative net worth UBS Global Wealth Report (formerly Credit Suisse) · 2023 · research
Cross-country wealth-Gini rankings are a poor measure of how fairly wealth is shared. Wealth is counted net of debt, so advanced economies with deep credit markets show large numbers of adults with negative net worth — Denmark has the highest average debt per adult (≈$114k) and the bottom 50% of households in countries such as Sweden hold a *negative* share of wealth. That mechanically inflates their measured wealth Gini, making nations with heavy household borrowing look "more unequal" than the UK without distributing wealth any more fairly. Wealth Ginis are also compressed near the high end for almost every country, so a middling global rank is not evidence that a country distributes wealth fairly.