The case for taxing wealth, argument by argument.
This video argues that the UK government's £700 billion Covid deficit disproportionately benefited the rich, leading to increased inequality and a cost-of-living crisis. It explains how government spending, replacing the rich's reduced luxury consumption, flowed through the economy to asset owners, who then accumulated this wealth due to lockdown spending restrictions.
“what you'll see is a massive increase in quality of life of the rich & a massive decrease in quality of life in the poor”
“ordinary families will sell their assets to support themselves which means they get poorer still which means wealth inequality inequality gets bigger still”
“what we would see is the biggest and fastest increase in inequality in the history of the country”
“If we were to tax back the rich just enough to make them as rich as they were 3 years ago we would have enough to give every single adult in this entire country”