The case for taxing wealth, argument by argument.
This video discusses a Wealth Tax Commission proposal for a one-off UK wealth tax on millionaire couples to address coronavirus crisis public finances, arguing it's preferable to raising income tax or VAT. It examines the fairness and potential long-term implications of taxing the wealthy versus burdening average citizens.
Featuring Ian Collins
Mentions Rishi Sunak, Gordon Brown
Raised as a counter-argument to rebut. “do you think the government might say well we'd need to set up such a complicated system in order to find where all of those funds and investments look that it ”
Raised as a counter-argument to rebut. “the intake was actually the overall tax intake was slightly less because people just found ways to avoid it”
“at the moment the very richest in our society often pay the lowest rates of tax you know it's famous some billionaires pay less than their cleaners”
“that tax gets charged on worked income but the very richest people they make a lot of their income often most of their income in the case of the richest in ways”
“it's about taxing families that are accumulating huge amounts of wealth and their wealth is just getting bigger and bigger bigger bigger”
“would raise 260 billion pounds over five years”
“is basically saying look we've done the work we've shown you how you can do it we've shown you how it can work”