The case for taxing wealth, argument by argument.
This video analyses The Economist's arguments against wealth taxes, specifically their claims that such taxes deter innovation and are confiscatory. It highlights The Economist's preference for broader inheritance taxes over wealth taxes, a position the presenter notes is frequently encountered among UK political influencers.
Mentions Jeff Bezos
Raised as a counter-argument to rebut. “We have the highest taxes ever at the same time as a disappearing welfare state. That is what happens when your government goes massively in debt to the super r”
“the tax system must ensure that meritocracy prevails over inheritocy”
Raised as a counter-argument to rebut. “wealth taxes would become confiscatory and deter innovation.”
“Wealth taxes because they tax your stock of wealth rather than just your income every year. They effectively get around this problem that we have which is very ”
“We are building an economy here where the only way to have a fucking house is to have a rich dad and where ordinary people are going into hundreds of thousands ”
“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”
“it's really really important that we introduce attacks into the system which can effectively target not just high earning workers but the very very rich”
Raised as a counter-argument to rebut. “we shouldn't do wealth taxes, but we should do more inheritance taxes”