The case for taxing wealth, argument by argument.
Living standards have never been better in human history, so there is no need to raise any taxes — including a wealth tax — at all.
You're making the "Living standards are at an all-time high" argument against a wealth tax — but the data says the opposite. The IFS finds median real household income rose just 6% from 2009–10 to 2022–23, about a fifth of the long-run trend, the worst period for income growth in generations. NIESR finds real disposable income growth collapsed from 2.6% a year to 0.6% since 2008, leaving households nearly £2,000 a year poorer than the pre-crisis trend. Living standards aren't at a high — they're stagnating while wealth concentrates at the top, which is exactly what a wealth tax addresses. Learn more: https://wealthtax.now/arguments/living-standards-high/
You're making the "Living standards are at an all-time high" argument against a wealth tax. The IFS finds the worst income growth in generations and NIESR finds households ~£2,000/yr poorer than trend — standards are stagnating. https://wealthtax.now/arguments/living-standards-high/
Median real household income rose just 6% from 2009–10 to 2022–23 — about a fifth of the ~30% growth the prior half-century's trend would have delivered — and average real pay in 2023–24 was only 3.5% above its 2009–10 level, marking the worst period for income growth in generations.
UK real disposable income growth collapsed from 2.6% a year (1955–2007) to just 0.6% since the 2008 financial crisis, leaving households nearly £2,000 a year poorer than the pre-crisis trend implies; the poorest UK regions are now poorer than the poorest parts of Slovenia and Malta, and weak productivity is costing UK workers £4,300 a year.
Raised as a counter-argument to rebut. “obviously see now talking in the 21st century living standards here in the UK and much of the world are enormously more enormously better than they were, you kn”
Raised as a counter-argument to rebut. “you have in my opinion unfortunately a tremendously out of touch elite class that is incredibly unwilling to accept the I would say like increasingly obvious tr”
Raised as a counter-argument to rebut. “Living standards will continue to fall, and that means that in basically every country in the world, incumbents will tend to become more and more unpopular over”
Raised as a counter-argument to rebut. “Where do you think they... will they improve living standards for Americans?”
Raised as a counter-argument to rebut. “the average person now under the system of capitalism uh has a living standard which exceeds that of an 18th century Monarch”
Raised as a counter-argument to rebut. “if you know your history can you point if you know your history can you point to a period in UK history for example to a period in UK history for example to a p”
Raised as a counter-argument to rebut. “I want your viewers to ask themselves do I want your viewers to ask themselves do I feel the richest I've ever been I feel the richest I've ever been”
Raised as a counter-argument to rebut. “We don't talk about falling living standards. We don't talk about why wages are falling, why it's hard to get a good job, why big cities are expensive, why thin”
Raised as a counter-argument to rebut. “I had to look at financial markets before I shot this video and basically everything is at an all time high. Most major stock markets are at or near their all t”
Raised as a counter-argument to rebut. “states maybe 100 Years of Living standards for the middle class okay we have lived through a period where people like our parents have been able to provide dece”
Raised as a counter-argument to rebut. “what we have at the moment is a situation where basically across the Western world, living standards are falling.”
“inflationary cost of living crisis you know you can read that's an article in know you can read that's an article in know you can read that's an article in the ”
Raised as a counter-argument to rebut. “living standards decreased massively. And this happened in basically every country in the world.”
Raised as a counter-argument to rebut. “there was a conservative politician on TV just last week saying that living s is better than than they've ever been”
Raised as a counter-argument to rebut. “Living standards for ordinary families are getting worse and worse quite quickly and they will continue to get worse.”
Raised as a counter-argument to rebut. “And yet if you look at most individuals, you will find that over time they do tend to get richer over time. And that is because in most careers you get salary r”
Raised as a counter-argument to rebut. “the UK is going to avoid a recession and this was reported in a lot of the media the BBC basically all the major news outlets”
Raised as a counter-argument to rebut. “we can see a massive increase in living standards a massive increase in living standards you don't fix the wealth distribution you won't fix the living standard”
Raised as a counter-argument to rebut. “GDP now is much higher than it was 50-60 years ago but in many ways people's lives are worse than they were 60 years ago”
Raised as a counter-argument to rebut. “stopping the collapse in people's living standards that's the number one and in my opinion the only way to do that is to stop the massive increase in inequality”
Raised as a counter-argument to rebut. “I'm not in this because I want to raise taxes I'm in this because I want to improve living standards for ordinary people”
Raised as a counter-argument to rebut. “massive increase in inequality, massive increase in house prices, massive increased inflation and a collapse in the cost of living”
Raised as a counter-argument to rebut. “the inflation and falling living standards is the rich getting richer because the rich are getting richer”