The only way to cut your tax is to raise taxes. Here's why

Id love for you to get on Blindboys podcast, this is a message the Irish need to desperately hear

What Gary is describing is PFI. An idea turbocharged in its use by the “people’s guy” Tony Blair. Burnham is his acolyte. There will be no change from the Northern Rhetoric champion.

So instead of cutting the budget deficit and maintaining fiscal responsibility - the only solution they came up with is to raise taxes. Government is definitely super efficient now with the money, it would use the new funds rationally

I think a elephant in the room is being ignored for ideological reasons. Everyone must have a certain view on a certain issue, any other view is not tolerated, if they do not have the correct view they are a "bigot". (Ironic.)
If this issue was solved correctly govenment expenditure would fall. Social policy could work as intended rather than be a faucet for international crime to exploit.

Gary, what about governments running up inflation as a 4th strategic course of action? 1) They wouldn't need to tax the ultra-rich, and in fact, they would repay debt with continously weaker dollars; 2) they wouldn't need to also increase taxes on the middle class since they are tapped out; 3) the economy would look like it's "growing," as Industries selling abroad would come across as more competitive with a weaker currency while domestic service providers can increase their prices in a reduced competitive landscape... 4) and they wouldn't have to deal with the "boomer" voter block getting upset... It's an all-around win-win-win!!?

Love your messaging success in the UK. Wish we had similar here in the US. We've had people like Robert Reich, Bernie Sanders, and others banging this drum for over 15 years and, if anything, we've gotten further from wealth taxes. I can't see them making the Overton window for the 2028 election despite us desperately needing it. If other nations do them successfully, maybe we have a hope in the 2030's.

The only way to cut your (rich people) tax is to raise (poor people) taxes. Why what?

What holds this country back is Greed & Envy !

Gary, just a heads up: Don't lean too much into praising MrBeast. He's increasingly being found to be a fraudster and a liar. He does a lot of virtue signalling and talks big about how he wants to use his money to do good in the world, but it's built in lies and is largely performative.

The example you gave was appropriate and it made sense, and that's fine. Just wanted to give you a heads up! :)

Thanks Gary, have a good rest.

Hello, what I understand is that the beginning of the problem is that we accept to sell then our assets for instant money and false promises. I was wondering if everybody in the west start to buy shares in some societies and hold them no matter what. Like one share at the time multiply by 1 million of people willing to follow a plan on 10-20 years. Can this work? Like in Finding nemo when all the fishes in the net start to swim in the same direction to make the boat sink or let go. Sorry I 'm french, not sûre if i'm clear. 🙂 Maybe like a vigilanti funds who takes back the assets quietly.

Fred Hollowes did the eye work for $5 at a time. Mainstream medical was charging $5ooo for the same operation. Go figure.

Totally agree and it wouldn’t be as hard as some are making out because it would be on passive income. I’m wondering about large foreign corps, they are notorious for paying sweet FA while making out they are doing the public some kind of favour.

I recommend watching "The Rise and Fall of Gary's Economics - Konstantin Kisin"

⭐️Tax Wealth Not Work⭐️
❤️ I appreciate your videos!❤️
⭐️Thank you!⭐️

Reading through these comments is so depressing. A prerequisite for reducing inequality is Land Value Tax but people are enthusiastically buying the snake oil "remedy" of wealth tax. Why?

I saw that rest us politics show. He really held his own.

Now I'm starting to wonder though: ARE taxes the only way to claw our way back? Could we have "fees" instead, for instance? A yacht fee, a mansion fee, ownership of more than 2 homes fee, etc.. Just wondering if there's another was to think about it.

Another great video Gary. Take a break, but don't quit!

Thank you so much Gary! You're a shining beacon for us regular people, explaining in simple, plain English to us people who dont' understand the murky scary workings of the local and world economy. I'm doing what I can and discussing calmly with the people around me about wealth taxes instead of income taxes.

Your channel and the movement towards tax wealth not work gives me hope for the future.
Also massive shout out to Gabriel Zucman on TRIP podcast, he managed to stay so calm and level-headed despite all the interruptions and derailing attempts.

Sunak was right then

This is a good summary of everything. Everything at all!

.. accumulate some critical businesses back onto the government balance sheet 😂 yer-right.

Can you make an educational historic video explaining wealth tax and tax overall in the west from 1945. on?

I have been around very wealthy people - and let me assure you, precious few of them ever feel any regret over income inequality - in fact, they mostly believe they deserve their wealth because they're simply better than you - or else, they would not be rich - and they are not inviting you or me into their club - ever. And don't be fooled by pompous McMillionaires - they're not really that rich - they just support the status quo for the ultra-wealthy in control.

Gary, I understand what you are saying. But I think the many don't. I think it would be a good idea to show your ideas in an animation that spells it out to the population who are not all economics students. Sometimes we have to get the message to market in the most relevant medium. 30-minute YouTube videos will not engage a large chunk of the population.

🎉

I haven't seen your documentry. I'm here in St Louis, Mo. USA. (it ain't my fault.) So sorry to hear your next show will be your last. I am an admirer of yours. Don't forget to take care of yourself. You can't help nobody if you don't take care of yourself. Thanks for everything you do. Your messages have been right on from the word go. Best of Luck Gary

Your argument is sound. Your logic checks out. Yet I still wish you were able to give the next part, which is exactly how the taxes are successfully increased.

Bill Clinton did it just a little bit in the mid 90's, and America got rid of the deficit for the first time since Reagan made it Skyrocket 15 years earlier. Every Republican since has drastically lowered the tax rate for the wealthy - without even reducing spending - which forced more borrowing and wealth inequality.

It feels like it should be doable. Yet it likely isn't happening any time soon.

What are Go Fund Me healthcare drives but a Mr. Beast for Americans who need treatment?
We're already there.

I agree with the premise of wealth inequality has gotten too extreme. Wealth taxes seem counter productive though. A better designed Inheritance tax and a govt that functions at each layer rather than just setting taxpayer money on fire I think is a better fix.

#taxwealthnotwork will Never Go Away! All thanks to you Gary! The conversation is now a How To, & not a Why To.
Utter Legend, thanks x

Encapsulated in the current phrase: ‘the rich used to pay into the government; now they loan money to the government’ so we pay them for the privilege of impoverishment 😡

I finished watching this just before doing my regular Bible reading. And got this from the book of Nehemiah in the Old Testament (one of Gary's favourite testaments 😂😂):

"We are having to pledge our fields, our vineyards, and our houses in order to get grain in the famine. ... We are having to borrow money ... to pay the King's tax." (Nehemiah 5:3-4)

Tax wealth not work! God says so.

I think Gary is blind to some things and at the same time brilliantly aware

If some people, Gary, do something, they have no friends. they will never be able to make what you do happen.

Jews were allowed to become bankers because they could practise usury