Fiona Bruce: A wealth tax hasn't worked in other countries, why would it work here? Gary Stevenson: We did it here before and it worked. We can do it again.

@garyseconomics We did it before, but it didn't work. The UK economy was in recession for much of the 1970's and needed an IMF bailout. The 1980's brought Margaret Thatcher to power, and the booming 80's and 90' followed.

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@garyseconomics Switzerland has had a wealth tax for over two centuries and Norway for over a century.

@garyseconomics That kid isn’t old enough to remember the global financial crisis, let alone understanding how massive taxes caused Britain to go to the IMF for a bail out loan. He’s a virtue grifter.

@garyseconomics You’ve got to admire the effort Bruce puts into protecting her portfolio here.

@garyseconomics This bloke is a weapons grade moron and a liar. Typical that the BBC gives him airtime.

@garyseconomics We have never had a wealth tax in the U.K. It was considered and rejected by Labour in the 1970s. And those economic lunatics had income tax rates of 83 per cent and needed bailing out.

@garyseconomics Were we not the “sick man of Europe” throughout the 1970s though? With massive economic decline.

What former wealth taxes is Stevenson referring to? The extremely high rate of Income Tax combined with investment income surcharges? That's not a 'wealth tax' in the sense that's being proposed now, which involves taxing a low percentage of capital asset value, rather than a high percentage of capital income. I also wonder whether he's ever heard of the concept of inflation. The main reason why the asset poor get poorer and the asset rich get richer is that assets retain their value while inflation erodes the value of the money earned by everyone, but on which the poor are disproportionately reliant. What drives inflation? Government profligacy. What is Stevenson proposing?

@garyseconomics Don’t understand why wealthy millionaires & billionaires don’t want to contribute more to the country they love. The government could means test their bank accounts & value their properties & other assets to ensure they don’t go hungry?🤔

@garyseconomics Does Bruce not understand what a moderator's job actually is?