The wealth tax is catching on in Scotland Gary - has been mentioned quite a few times in mainstream political shows including today on the Sunday politics show BBC1 by STUC - it is also now the policy of the Green party- You have been instumental in highlighting this logical and convincing analysis of our economic system..
For those who are wondering, the famous French Economist that Gary mentions during an answer to a question is Thomas Piketty and his name appears also in Gary's Oxford thesis in the Literature section.
In the US there's lot of people cashing in on the younger generations discontent with their financial situation. But, 65% of people own there home. This has been a constant for 50 years! 42% of them have no mortgage. Most retirement accounts have large equity holdings. So, a large percentage of the population holds both real estate and equities.
"Why do you talk to normal people?" Because deciding not to is essentially the same as saying that the bottom 90% doesn't matter. That would be beyond cynical.
In the 1970s, Britain already experimented with high-tax, and the result was deindustrialization of Britain. Tax does not fix a countries problem. Britain was facing a cascade of issues: politics entered the workplace, union representative, were demotivating worker and telling them they are being exploited. They built poor products. The constant strikes. The country’s manufacturing reputation suffered. British products became unreliable and mediocre as the nation took its prosperity for granted. Too much infighting. Meanwhile, consumers turned to German manufacturers, who were producing superior cars. Japan beat the world in consumer electronics. Where is Britain Sony? Samsung? LG? Yamaha? Pioneer? Philips? etc... There are still some around, but they are small players. Britain has just sat on its hands. After Concorde, one of the last major achievements in British innovation, there have been few breakthrough inventors-Dyson, Alan Sugar, and Clive Sinclair come to mind-but no game-changing impact. Nothing compared to Microsoft's Bill Gates, or Apple's Steve Jobs or Google. Britain took for granted, once an industry is lost, it rarely returns. The talent, skills and people are lost. The high taxes of the 1970s sapped wealth from the economy, with much of the revenue squandered by government spending. While the UK missed out on the internet revolution, American companies grew and they rule the world. Even if some don't pay their fair share in UK taxes. Yet Gary blames the rich. Britain's millionaire are poor compared to the richest billionaires in the USA. Its the corporations which are rich now. Calls for higher wages, without improving product or service quality, stand in stark contrast to the approach taken by Japan and Germany, who continuously focused on quality. Today, countries like South Korea and China have joined the race, setting even higher standards in manufacturing. Britain’s most talented minds are now often drawn to financial services. They spend all day money money electronically from one place to another. instead of contributing to ground-breaking technology such as producing smartphones, space rockets, or driverless cars? The UK has struggled to adapt to the modern world and risks living off the wealth of past achievements, without a sustainable strategy for the future.
Talent will not thrive in an unequal society, you are not investing in the most important resource in the country, an elite education and well equipped health service need to be paid for,if the uk government doesn’t address the issue of income inequality Britain will not thrive and succeed in the market place
In the 70s? Things didn't go well during the massive stagflation period that affected the world, therefore the one policy that kept the nation functioning was a failed experiment? After the even higher tax policies of the 50s and 60s absolutely improved equality and grew the wealth of the middle class massively, it was suddenly a failed experiment in the 70s. Mhm.
Bullshit. Britain didn't tax The Wealthy. They fumbled the ball on setting realistic caps and tip-toed around the aristocracy like they always do. You can't take a bite out of inequality with toothless measures, falling back on austerity every time the market farts. The truth is it's almost impossible to extricate government from industry, yet if you fail to adequately separate them, you'll always have a civilization run by the rich. Education and better policy (by better policy makers) is the only way around it-because you must institute a wealth tax.
Remind me, what was the lowest tax rate post WW2? Ok I’ll tell you. 45% That was the lowest tax rate. It went up from there. Oh and we didn’t pay off our war debt until 2006, but we could give out tax cuts to buy votes
@@markmottershead646it is what it is because it's meant to be. Just imagine if William Wilberforce thought like this. What an absolutely stupid thing to say.
@@intrepidgaz - I fear you missed the point. The system is designed to suck all the wealth to the top. And do you think that the leeches (politicians) that themselves profit from this situation are going to endanger that (or their own lives? You want proof? See yesterday’s budget. “It’s one big club and we ain’t in it”
@@markmottershead646I think you meant "meant to". And it's not. It can be different; incentivizing people to change it is his priority. That's why he's doing this. It's a call to arms for the people who will hear this message and realize they can be part of the solution.
half the time in all his interviews is him talking about how he was poor and done well in maths and ended up in trading dealing cards, this interview was ALL about him telling stories and anecdotes, useless
Your right and its a general problem of promoting books or other specific output. Different UA-cam channels want to promote themselves so when Gary puts out a book they all want to have him on and the book - and the anecdotes - are the focus. Only so many ways you can talk about the same thing! I tend to look for the differences - the odd bits of information that are new, the same story told with a slightly different perspective. Helps to build a bigger picture and take a view on what you're hearing.
Gary is a fraud, yet keeps talking about how he was the best of the best, yet there is ample evidence and statements form his ex-coworkers that contradict everything he said about himself. How does one trust what this guys says if he lies about his credentials?
The guy is saying we need to stop living standards collapsing for ordinary people, what is the fraud in that? His personal success, or not, is irrelevant. His economic predictions are on record.
@@kr050 Living standards are rising and falling. Its complicated. People have more consumer goods because of cheap consumer products from China and elsewhere. People are living in a time of plenty. However, houses prices are expensive, but that is down to a number of factors. How much more tax should people pay. The UK tax rate is 25%, 40% or 45%. However, we have indirect taxes. It is a sneaky of raising more tax. It is 20% on everything we buy except for basic food and books. So a base earner would be paying 25% tax, but then ends up paying 20% in VAT, so a rate of 45%. On top of that you have National Insurance and other taxes such as council tax. The wealthiest would be paying 45% tax and then a VAT at 20%. So a rate of 65%.
The wealth tax is catching on in Scotland Gary - has been mentioned quite a few times in mainstream political shows including today on the Sunday politics show BBC1 by STUC - it is also now the policy of the Green party- You have been instumental in highlighting this logical and convincing analysis of our economic system..
Thank you for having Gary on and interviewing him. We need his knowledge to know which financial directions to go in.
Bro pro trade clarity goes crazy
This is gold 🏅🏅🏅
Awesome Interview 👏
For those who are wondering, the famous French Economist that Gary mentions during an answer to a question is Thomas Piketty and his name appears also in Gary's Oxford thesis in the Literature section.
In the US there's lot of people cashing in on the younger generations discontent with their financial situation.
But, 65% of people own there home. This has been a constant for 50 years! 42% of them have no mortgage.
Most retirement accounts have large equity holdings. So, a large percentage of the population holds both real estate and equities.
Preach brother
"Why do you talk to normal people?"
Because deciding not to is essentially the same as saying that the bottom 90% doesn't matter. That would be beyond cynical.
In the 1970s, Britain already experimented with high-tax, and the result was deindustrialization of Britain. Tax does not fix a countries problem.
Britain was facing a cascade of issues: politics entered the workplace, union representative, were demotivating worker and telling them they are being exploited. They built poor products. The constant strikes. The country’s manufacturing reputation suffered. British products became unreliable and mediocre as the nation took its prosperity for granted. Too much infighting. Meanwhile, consumers turned to German manufacturers, who were producing superior cars. Japan beat the world in consumer electronics. Where is Britain Sony? Samsung? LG? Yamaha? Pioneer? Philips? etc... There are still some around, but they are small players.
Britain has just sat on its hands. After Concorde, one of the last major achievements in British innovation, there have been few breakthrough inventors-Dyson, Alan Sugar, and Clive Sinclair come to mind-but no game-changing impact. Nothing compared to Microsoft's Bill Gates, or Apple's Steve Jobs or Google.
Britain took for granted, once an industry is lost, it rarely returns. The talent, skills and people are lost. The high taxes of the 1970s sapped wealth from the economy, with much of the revenue squandered by government spending. While the UK missed out on the internet revolution, American companies grew and they rule the world. Even if some don't pay their fair share in UK taxes. Yet Gary blames the rich. Britain's millionaire are poor compared to the richest billionaires in the USA. Its the corporations which are rich now.
Calls for higher wages, without improving product or service quality, stand in stark contrast to the approach taken by Japan and Germany, who continuously focused on quality. Today, countries like South Korea and China have joined the race, setting even higher standards in manufacturing.
Britain’s most talented minds are now often drawn to financial services. They spend all day money money electronically from one place to another. instead of contributing to ground-breaking technology such as producing smartphones, space rockets, or driverless cars? The UK has struggled to adapt to the modern world and risks living off the wealth of past achievements, without a sustainable strategy for the future.
Talent will not thrive in an unequal society, you are not investing in the most important resource in the country, an elite education and well equipped health service need to be paid for,if the uk government doesn’t address the issue of income inequality Britain will not thrive and succeed in the market place
In the 70s? Things didn't go well during the massive stagflation period that affected the world, therefore the one policy that kept the nation functioning was a failed experiment?
After the even higher tax policies of the 50s and 60s absolutely improved equality and grew the wealth of the middle class massively, it was suddenly a failed experiment in the 70s.
Mhm.
Bullshit. Britain didn't tax The Wealthy. They fumbled the ball on setting realistic caps and tip-toed around the aristocracy like they always do. You can't take a bite out of inequality with toothless measures, falling back on austerity every time the market farts. The truth is it's almost impossible to extricate government from industry, yet if you fail to adequately separate them, you'll always have a civilization run by the rich. Education and better policy (by better policy makers) is the only way around it-because you must institute a wealth tax.
Remind me, what was the lowest tax rate post WW2?
Ok I’ll tell you. 45%
That was the lowest tax rate. It went up from there. Oh and we didn’t pay off our war debt until 2006, but we could give out tax cuts to buy votes
Gary is clearly a bright dude but can he really not see further than the wealth divide?? He's too smart not to have looked beyond that which means...
What do you mean by that? He says its problem that will be main cause of financial system collapse.
@@wareloski2137 - There's a reason the system works like it does - it's meant to
@@markmottershead646it is what it is because it's meant to be. Just imagine if William Wilberforce thought like this. What an absolutely stupid thing to say.
@@intrepidgaz - I fear you missed the point. The system is designed to suck all the wealth to the top. And do you think that the leeches (politicians) that themselves profit from this situation are going to endanger that (or their own lives?
You want proof? See yesterday’s budget.
“It’s one big club and we ain’t in it”
@@markmottershead646I think you meant "meant to". And it's not. It can be different; incentivizing people to change it is his priority. That's why he's doing this. It's a call to arms for the people who will hear this message and realize they can be part of the solution.
He has strangely small hands... like the Burger King commercial from like a decade ago, lol
half the time in all his interviews is him talking about how he was poor and done well in maths and ended up in trading dealing cards, this interview was ALL about him telling stories and anecdotes, useless
What do you want him to do, handstands?
Your right and its a general problem of promoting books or other specific output. Different UA-cam channels want to promote themselves so when Gary puts out a book they all want to have him on and the book - and the anecdotes - are the focus. Only so many ways you can talk about the same thing! I tend to look for the differences - the odd bits of information that are new, the same story told with a slightly different perspective. Helps to build a bigger picture and take a view on what you're hearing.
Gary is a fraud, yet keeps talking about how he was the best of the best, yet there is ample evidence and statements form his ex-coworkers that contradict everything he said about himself. How does one trust what this guys says if he lies about his credentials?
The guy is saying we need to stop living standards collapsing for ordinary people, what is the fraud in that? His personal success, or not, is irrelevant. His economic predictions are on record.
Can you tell us where this info is ?
@@Kaa864 It's made up out of thin air.
@@Kaa864 There is an article in the FT.
@@kr050 Living standards are rising and falling. Its complicated. People have more consumer goods because of cheap consumer products from China and elsewhere. People are living in a time of plenty. However, houses prices are expensive, but that is down to a number of factors.
How much more tax should people pay. The UK tax rate is 25%, 40% or 45%. However, we have indirect taxes. It is a sneaky of raising more tax. It is 20% on everything we buy except for basic food and books. So a base earner would be paying 25% tax, but then ends up paying 20% in VAT, so a rate of 45%. On top of that you have National Insurance and other taxes such as council tax. The wealthiest would be paying 45% tax and then a VAT at 20%. So a rate of 65%.
So tired of this lying grifter. No surprise that people who actually worked with him have come out saying he's talking out of his arse.
Nah, him spreading about us brits regaining control and fixing our country means other rich people can't exploit us as much. He is a threat
why is he lying
Nobody has come out and said that
@farzanamughal5933 yes they did. There's a big article in the financial times. You can Google it.
The guy is saying we need to stop living standards collapsing for ordinary people, what is the lie and the grift in that?