The case for taxing wealth, argument by argument.
Former city trader Gary Stevenson, now a millionaire, argues for a wealth tax on super-rich families, claiming it would benefit the economy by increasing spending. He criticizes current tax systems that disproportionately burden workers and calls on Chancellor Rishi Sunak to implement such a tax, asserting that wealth is difficult to hide.
“the idea which is most likely to do something at the moment is the wealth tax because this is an idea instead of taxing workers you just attack super wealthy fa”
Raised as a counter-argument to rebut. “can you make it work or can rich people hide their wealth well that's the whole point of a wealth tax is it is actually very hard to hide your wealth”
“one of the most difficult things is whether it'd be an annual on an annual basis or a one-off one-off much easier but still the kind of the difficulties in actu”
“the moment these guys often pay you know less than 10 tax on their income and nothing on their wealth which is you know less than i paid you know less than most”
“I went from being very poor to being very rich by betting that inequality would grow and that would keep the economy weak reason why if the wealth is being held”
“one off idea of having a wealth tax was it was the equivalent of putting 9p on the basic rate of income tax so the the difference that would make”
“the difficulties in actually working out people's wealth and getting an agreement between the tax man and the individual can be really tough we saw it with mich”