The case for taxing wealth, argument by argument.
This video features a debate between a former trader advocating for higher taxes on the wealthy and a free-market think tank representative arguing that high salaries for entrepreneurs are justified by market value and do not negatively impact lower earners, with a researcher from the High Pay Centre also contributing.
Featuring Mariella Frostrup
“whenever uh you know extremely high rates of tax have been introduced then an awful lot of the super rich whether we like it or not have have moved to other tax”
“we're in a situation where you can only be rich if your parents are rich”
Raised as a counter-argument to rebut. “if we could have that uniformly across europe and in the u.s i think that would do a massive amount to improve economic life for ordinary people”
“if we try and rely on philanthropy to fix our broken economy rather than a fair tax system that works it's certainly not going to work”
“however since the early 1990s we haven't seen an increase in income inequality so that's quite a misleading narrative that is pushed into the public domain and ”
“the vast majority of companies that have introduced wealth taxes have later abandoned them which is a pretty strong indicator that they don't work”
“if you increase uh income tax for instance then it can lead to lower revenues for the treasury”
“in my opinion if we don't fix inequality that will mean all of the money goes to the rich who use it to buy house prices”