The case for taxing wealth, argument by argument.
This video explains that all debt is owed to someone, meaning society's total debt equals zero. It argues that government and personal debts, like mortgages, are largely held as credit by wealthy individuals and institutions, often internationally. This transfer of wealth from debtors to creditors, through interest payments, exacerbates inequality.
“people's financial positions now are very largely a function of the decision of how much debt their parents or their grandparents chose to take.”
“If we were to find those people who have that money, we will see that they have gotten enormously richer, if we were to tax it back the government debt would de”
“If the government goes £700 billion into debt and you don't get £14,000, it's effectively the same as the government taking £14,000 from you and giving it to th”
“The government has gone into debt. The rich have accumulated huge amount of money that has led to a massive increase in inequality.”
“inequality has increased and you are seeing that fall in living standards for ordinary people.”