Why a 2% wealth tax?

On @therestismoney

Still pushing this? You've been debunked on this so many times that quite frankly it's now embarrassing

Pestons face man :D Gary, thanks for going on these shows and dealing with these smug twats. It must be soul destroying. Thank you

It isn't really 2% though

The trouble with this moron is, he is blaming the rich for something Blackrock is doing single handedly, same in the USA 😖

This has been proved to be a stupid pipe dream You can waffle on as much as you like and it will still be stupid economics And you call yourself an economist 🙄 Lamentable

So, the UK over the next 4 years needs to find £1 trillion to settle the gilts, or reissue them at 4% over the issued yield. Reissuing them means that the UK needs to find an additional £40 billion per annum (at current yield) over and above the £130 billion currently leaving the economy, and considering that the UK is issuing additional gilts for both Government deficit spending, gilt yield, and settlement, this is most probably going to be closer to £200 billion per annum. You need a 25% wealth tax on anything over £1 million (including private pension pots) to cover these debts and the recurring outgoings.

no we don't

Wealth tax = tax on resources used for production. Those resources make working people more productive so destroying them through taxation will make everyone poorer and hit the poorest the hardest since they can't flee.

Because it doesn't work.

Usually "the richest wealth is in houses and physical assets" now it's "we havnt got infrastructure" Maybe if mad governement bureaucracy didn't mean we needed to spend £mmm on planning before a spade is even in the ground we would have more infrastructure.

Because you're mental

2% is enough to make a foreign competitor company that doesn’t pay wealth tax a serious competitor. Terrible outcome for local business

None of your "solutions" are supported by empirical evidence. Please stop lying to people.

Most retarded shill award

Begone, Gollum.

If we go this way, I think anyone with over a 1milion of assets should be taxed 2%

Seriously, why would any entrepreneur start up here when the politicians hate you?

Reformed trader now socialist ignores all data globally showing that wealth taxes are a disaster discusses weather tax with a socilaist journalist all paid by politicians and the media to soften the public up.

Mr Stevenson. Here are two suggestions that have long stuck in my mind regarding enforcing equality but retaining reward. 1. Individual wealth capped at equivalent of 30yrs avg take home pay. 2. CEO maximum pay no more than 10x that of the company's lowest paid Employee.

Grifters gotta grift

It's all so tiresome - Britain has only gotten more and more socialist over the past 30 years. Lets just do this wealth tax as well. Let the 70's style collapse happen. Only then will the public see this direction of travel IS the problem not the solution.

What not twenty or thirty? Don’t hold back

@grok why is this clown CONSTANTLY on my timeline? Why is he so favoured by the algorithm?

Big tax big state thievery

There are two ways to resolve the vast wealth inequality that exists: 100% inheritance tax for the next few generations, or a revolution.

another day another load of bollocks - wtf does he eat for breakfast? 3 shredded wheat?

Anyone wishing to donate to the public purse (HM Treasury) can do it directly here [email protected] Absolutely no need to wait for a tax rise … Go on ,,, click that link 🤣🤣🤣👍🇬🇧

Where’s your evidence of growing inequality? I’ll start with evidence of shrinking inequality….

How about we just take ALL your assets and throw you back on the street where you belong. Smackhead

🤡

communists deserve helicopter rides

You are basically a really elaborate engagement farmer, but ppl have stopped engaging and are really sick of your mouldy communist vegetables

Because you don't understand how government finances expenditure?

Trying to shoehorn the facts you’ve learnt into your conversations now is so funny 😂