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181,399 Views • Oct 4, 2024 • Click to toggle off description
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Performed by Gary Stevenson
@garyseconomics
Views : 181,399
Genre: Education
License: Standard YouTube License
Uploaded At Oct 4, 2024 ^^
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Rating : 4.983 (29/6,838 LTDR)
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User score: 99.37- Masterpiece Video
RYD date created : 2024-11-21T06:29:40.773868Z
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411 Comments
Top Comments of this video!! :3
Among other things, I love the open bottle of dishwasher in the background. Fits in with his generally unpretentious tone and the message.
I do believe taxing the rich is not quite as complex as the rich would have us believe.
7 |
I'm from Alberta and I have been advocating for a royalty on oil. As a georgist I'm in favor of taxing resources. People say the companies will leave. And go where? The oil is here.
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This is why Henry George got it right. We should tax the land, not labor or capital. You can’t hide your land in the Caiman Islands.
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As an extra ingredient: Many small farms are being bought by corporate entities solely for the carbon credits. The farms cease to have any relevance to the communities they are surrounded by.
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Gary simplified voting for the foreseeable future. Top priorities are tax on the super rich and proportional representation. Also less privatisation and sell-offs of services by gov and councils and more community wealth building.
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Land Value Tax was proposed in England but shut down because of rich corrupt lobbyists. We need it back.
Edit: Lot of people in the comments don't understand land value tax. Unlike property tax it doesn't increase when you use the land properly like building things on it. The people it hurts the most are greedy rich asset owners that buy land and sit on it. Also it will greatly reduce property values so regular home owners would pay less than they do on property tax while benefiting from a great environment.
Check out Georgism if you want to know more
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I like this new message from you Gary — it feels more solution driven!
43 |
Politicians are some of those rich people who would be taxed. There is no incentive for them to change the rules.
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Teaching people this knowledge is more valuable than any shiny metal. Thanks Gary for showing us how simple this uncomplicated stuff actually is. Finance isn't physics, we make the laws. If the renting classes are shown a fair path out of this modern feudalism then they must demand a better way from their political elites.
I think the Lords and Landlords like to make us think this stuff is complicated. It really isn't. If the owners, sitting in places like the British Virgin Islands or Dubai or the Isle of Man, decide to offload a few assets on the actual island of Britain maybe the locals would be much better off and could afford the basics like shelter. The status quo doesn't work. Your solution is easily doable and it's hiding under our noses in plain sight. I bet you that the world will just keep on turning.
Ireland is the same. Average rent in Dublin is €2,128 per month. So you have to hand over €25k of your wealth each year after tax just to not be homeless. That's just nuts. Any alternative to that would be worth trying. What part of the planet do those who govern us live on? I'm guessing it's nice and sunny all year round wherever it is.
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Go Gary. Hopefully more people will get on board. 👍
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Great interview last night Gary .. hope you had a decent birthday mate, best wishes. 🙏
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Nice to hear some solutions
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Please can you tell Keir Stammer and Rachael Reeves this?
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I've tried this argument with several friends, and the counter has always been that people will then leave the country. Leaving their assets behind supposedly.
I can see another potential counter, creating intermediaries to hold the assets instead of yourself. (Talking about a loophole that shouldn't exist anywhere).
As always, everything is about implementation.
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Many assets, particularly land and property are owned by the Royal family and aristocracy which is why they are not highly taxed and exemptions are available to ensure they can evade inheritance taxes.
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For those who thinks rich people won't pay asset taxes... try avoiding paying your proterty tax on your house and see how it works out.
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So is this the answer to the argument "but they'll leave the country if you try to tax them".?
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The argument i hear more often is that doing this will cause businesses and investment to leave the UK. Businesses will set up and create jobs in other countries which have nore favourable tax policies towards big corporations and wealthy individuals. This will (they say) have a negative effect on the economy. I don't know if anyone's really tested this or not, however there are countries with high taxes that don't seem to struggle (e.g. Scandinavian ones), so there must more more to it than that.
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Asset taxation is such a smart way, it could also potentially turn living spaces back into commodities! Why should you own 15 homes as assets, those should be commodities!
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@grahameelton1899
1 month ago
He’s talking about taxing the asset or the income derived from the asset. Not the location of the owner. This’d stop overseas and offshore avoiding tax.
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