The case for taxing wealth, argument by argument.
This video argues that the UK is not a meritocracy, challenging the common criticism that wealth taxes are unfair. It contends that hard work no longer guarantees prosperity, citing rising asset prices and inherited wealth as key drivers of inequality, and proposes taxing the rich to create a more meritocratic society.
“I want people who work hard to make money. Unequal societies are not meritocracy. They are societies in which people from rich families get all the assets.”
“People from extremely wealthy families, like the Duke of Westminster, can inherit billions of pounds and pay nothing. This is not a meritocracy.”
“What I want is an economy where very rich people pay their fair share of tax instead of all of the tax burden landing on ordinary working people like you or you”
“If you want meritocracy, you should tax the rich rather than working people. So that's my answer. How do you get meritocracy? You tax the rich.”