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Gary Stevenson on taxing the rich and why you're getting poorer | WTCTW podcast
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- Published on Jun 21, 2025
- Why are the rich getting even wealthier while the middle and working classes continue to struggle? Former top trader Gary Stevenson - the star behind popular RUclips channel @garyseconomicsbreaks down how wealth inequality is driving down living standards for the middle and working classes on this episode of Ways to Change the World.
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He tells Krishnan Guru-Murthy how the rich grow their wealth through passive income and investments, while ordinary people fall into debt, and argues that low interest rates, tax policies, and government responses to crises like 2008 and COVID-19 have mainly benefited the wealthy, deepening the financial divide. And finally, he urges people to educate themselves and push for change before inequality spirals further out of control.
Produced by Silvia Maresca.
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Just a quick one boss you've misspelled my surname in the description, it should be with a V.
THANKS
xx
Gary - when will we see you on The Rest Is Politics??
@@SchoolGuy2ask them!!
yo gary boss - GET ON BBC QUESTION TIME PLS! I'll keep posting this on ur vids till it happens.
@@SchoolGuy2 nah no good. Rory the Tory & Iraq war Campbell. They've gone more left leaning since their political days but Gary wud do better with fresh minds. He rekt piers & that american dude the other week.
@@garyseconomics @restispolitics
There is many of us behind you Gary. Please keep driving this.
This guy talks facts and is so for the people 👏🏻
Gari wants to confiscate money from the rich. And if you divide it equally among everyone, in a few months it will return to the rich.
Are
Any examples of wealth taxes working?
@@mrgreen2461if not, how do we make it work... or do we just let this continue as is?
Only watched because of Gary. It's beyond time we had fair tax reform, a wealth tax of the super rich and closed all loop holes that enable the super wealthy to funnel it away from the economy.
I can give you 10% of my wealth. I bet you gonna lose it in 5 month.
Any examples of wealth taxes working?
We did in the 50"s, 60's and 70"s., till Thatcher!
Simple tax reform to share the wealth fairly.
Pretty simple really.
@@mrgreen2461 Well allowing them to pay professionals to professionally avoid taxes legally and leaving a massive contributory black hole in the system isn't exactly working is it?
There's your current problem.
The solution seems pretty obvious to me, I dunno.
@@mrgreen2461Switzerland seems to do all right, but it's the wrong question. What else do you propose ?
This is the type of man we need in our government. Without a doubt he stands for us the working class. No hype, no suit! just pure honesty & apathy
Something to think about. The income tax was created as a tax on the wealthy. It only affected the top 1% of income earners and was only 1%. Now, it affects everyone. A wealth tax would do the same. On the surface, it sounds like a good idea, but rarely does a new tax not cause problems for everyone eventually. If housing affordability is what Gary wants to solve, there are probably better ways to accomplish it. For instance, a law could be passed that would allow single family homes to be only used as primary residences. Homes would then become affordable.
"Owner occupied non rental primary residences "
You're the type of person you need. The reason he's chiming is because this is what we are experiencing. Other economists have been saying similar since 2008. Some said it before the crash. People learned it after WWII and we promptly forgot that lesson as they passed on around 2008.
@@TinCents wealth tax would affect everyone , so everyone would have wealth because it becomes affordable? Sounds great, I'm in. English kings always raised taxes to fund wars or themselves. It didn't start with the rich, there was feudalism to wring out the peasants. See 1381. If you pass a law making people own just their own home you are going further than the premises in this video that would ban private investment in owning homes. You would massively redistribute assets, banning private ownership in a kind of a commie way. 😂 A wealth tax would be preferable than your law to the billionaire funds. It would also mean a more stable society, educated and healthy people and create the foundations for scientific developments of the last 70 years. As opposed to the instability of the early 20th century. Check under the hood of the wealth tax again versus a very misguiding history of taxes.
I think you typed apatht by mistake!
Speaking as an American, I am in awe of such a deep and intelligent interviewee *_and_* interviewer pondering questions and bouncing ideas back and forth on a trajectory of pure logic and objectivity. Most of what I watch these days makes me dumber. This video made me profoundly smarter/more enlightened/better informed.
Its the distribution, stupid!
Gary has his own youtube channel gary economics he is trying to build a movement please join 😊
Channel 4 is a public broadcasting service, so they have strict guidelines about how to do things like this, whilst in the US most media organisations are privately owned and are profit driven, with very loose regulations around things like interviews, political coverage etc.
You had your moment America, his name was George Carlin. His narrative on this subject was lighter on details, and slightly more humours, but the message was the same.
I believe Krishnan has a very rich background.
@@definitelynotadam Totally agree. But now standup comedy has left us with Joe Rogan and Ricky Gervais
27:00 nailed it here, we need to get ordinary people to have money in their pocket to make Britain worth investing in
where will this money come from? what then will people do with this money?
money in the pockets will be taxed the next day.
Isn't the point of investing to make money?
Hay great to see you hear!
@RestingonHope The super rich should be taxed more. Hhuge sums of money are sitting in tax havens doing nothing but generating interest for billionaires. Taxing the wealthy adequately means that the money can make its way around the economy again as it gets put in education, healthcare, emergency services, and welfare. Working people spend money the super rich do not.
Gary at his best! Outstanding work by Krishnan, who feeds Gary all the right questions and arguments, then lets Gary speak and he actively listens. thanks Krishnan, this is pivotal!
Come a long way since the Robert Downey Jr interview
@@joejones3387 the issue with that Downey one was that Krishnan was there for a deep discussion type interview, Robert Downey Jr thought it was going to about his latest movie.
@ all good. I’m just sticking an elbow in
No it's not. The billionaire class' algorithms got Trump elected. And he will further drive inequality which will, inevitably, hit the UK as well. This isn't changing any time soon.
Yeah, this was excellent.
This gentleman is a hero - I am no economist but Gary is able to allow me to understand and grasp some quite meaty concepts. I have 3 degrees etc etc but as I say i am no economist - and this gentleman, for me, is a godsend and whilst I always knew this in a very cursory, basic way I was unsure why precisely I felt or believed this or how it could feasibly be done. I see this poverty and mental health decline daily in my job as a social worker. Gary crystallizes this for me due to his experience and knowledge and his unique way of explaining it. I have always been an SNP voter and I have in the past challenged them directly at hustings/party meetings etc on looking at economics differently - to look to a wellbeing economy and to put money in the average persons pocket and to reimagine economic approach and to offer a significant alternative. Money stimulates economies. No money doesn't. Common sense really. I have read many books on re imagining economics such as Stephanie Kelton's book on MMT etc. But Gary puts his ideas across in a hugely accessible and meaningful way. You are a National Treasure Mr Stevenson.
Theyre starting to pay attention Gary - keep going!! Amazing explanations, so simple, so true
640 likes.
@@50_Pence a like ratio of above 10% is actually pretty good because for some reason people are very lazy in hitting the like button.
one single solution to all problems. Gary will be the next PM
@@420haxx only 8 billion on earth. We'll be doing the change with petrol in old wine bottles.
Any examples of wealth taxes working?
Best thing Gary has ever said " Tax Work Less, Tax Wealth More"
But I can't find a video were he says how he is going to tax wealth...
@@GodofGamessshe has about a dozen on this subject
💯
@@GodofGamesss We can start by taxing unrealized capital gains when they're used as collateral for loans. This is how the wealthy cash in on their capital gains without realizing the gain and paying taxes on it. They put the assets up as collateral, and are able to extract liquidity from their capital gains. If a gain is real enough to be used to acquire a loan, it should be considered real enough to tax.
@@GodofGamesss I mean its really up to policy makers on how that gets tackled, but theres a number of ways. Inheritance taxes - this tackles the buy, borrow d1e method. Higher taxes on capital gains, CEOs and ultra wealthy people don't earn traditional income so you have to tackle capital or wealth taxes. Bernie has a model already to be able to afford universal healthcare. Lift the cieling on social security, so more people pay into it since it has a low cap. Taxing large sums of expenses, taxing stock purchases. You also want to close loopholes for people to hide their wealth in stock and other countries. There should also be a cap on subsidies granted to businesses. If you make over a certain amount in profit, you shouldn't be paid by the taxpayer in federal.
Not even 5 minutes into the video and it's a brilliant summary. This guy is so articulate and very good at explaining and arguing his revelations in a way that makes literally perfect sense
Couldn’t agree more, Gary does such a great job of delivering his message in a way that’s intelligent but completely understandable
He’s clueless, he has no idea what he’s talking about. What he’s telling you is exactly what the UK is doing now, it’s called failing economically. The rich have / or are leaving the country right now because they will not pay those ridiculous taxes. Look at the US plan for growth. It’s changed from Biden’s horrible policies and is working in the right direction again. We just lowered interest rates and our stock market is starting to settle and will be rising higher for the next 3 months and more. Trump is a business man. That’s why he’s rich. This can be done even without tariffs. Hypothetically UK elected a Plummer when they needed an electrician. You don’t hire a carpenter to fix your car.
I'm really confused, especially in market analysis, how are people using trading with them?
Gary’s financial advice is worthless
Wow the trolls are roused. Thing is, they're not even being paid anymore, they're often automated bots. Stevenson is right. Bracing that the economy will get worse.
US Citizen here. You’re lucky to have Gary. We have a price-fixing, global oligarchy-run country problem. They own everything people need just to live - from energy, retail, online retail, big agriculture, big pharmaceutical, healthcare, insurance, banking and financial services, tech, media, social media, and soon - real estate and land including farmland that is being bought up by “holding companies”. What’s left? There is no capitalism, just monopolies. And our politicians and courts on both political sides here pass legislation that the oligarchs tell them to. And these companies don’t provide those benefits like livable wages or in our case, even healthcare, in a reliable way.
People like Gary are smart enough to see what they’re doing and courageous enough to call it out. The people falling for the oligarchs’ propaganda say things like “it must be the immigrants” or support Brexit or in our case even vote internationally with the likes of Putin and Kim Jung Un. The reality is - in oligarchical dictatorships, how do average people actually live. Right - like garbage. But they swear loyalty to those oligarchs and dictators.
Don’t make the same mistakes we did. Listen to Gary.
Then why are blue states who are full of people who vote for this taxing the rich over and over the perfect example of your argument? They have some of the highest taxes of any state, welcome illegal immigrants with open arms, yet during the pandemic, shut down small businesses for two years, while letting big corporations operate as “essential services”? I grew up in Cali. All the restaurants in San Francisco’s Pier 39 are gone, family owned restaurants that had been there 100 years. The income wealth gap between the poor and rich is the highest in the country. Never mind Barclays has bought up full subdivisions while the state forces mom and pop landlords to go bankrupt or lose investment homes for YEARS to squatters. Politicians who want to control every aspect of your life are the problem. P.S. 99% of corporations in the united states are small businesses (mom and pop owned). You could tax the wealthy 100% of their money and there still wouldn't be enough to do everything people like this video want to do. Quit being fooled that taxing the rich is going to solve anything.
Your copy of Das Kapital is in the mail, comrade.
So incorrect, this guy just says things that he knows poor people like to get views and likes.
@@tsu177Actually, 3rd grade math says Gary Stevenson’s viewpoint is 100% correct.
@@Jessica-kk1cz Yes it does actually, thanks for proving my point
The best analogy I’ve heard in a long time. The Government is trying to win the Premier League without any professional players. I am promoting your channel to everyone I meet. Please keep it up.
Maybe they don't really need to win because the corporations that own them also own every team. They can't go wrong whatever they do. Nobody can do a thing about it except mouth on about it on RUclips.
Exactly, we currently have a chancellor who -lied- mislead us about her experience on her CV. And she is in charge of the countries finances?!
This is hands down the best Gary interview I've watched. Thank you so much Krishnan for asking him such great questions and allowing him to give deeper explanations, no other interviewer I've seen has had such insightful responses and valid challenges that will hopefully persuade more people to think along these lines.
There are times when an interviewer adds a lot to an interview and this is one of them.
Difficult questions asked well and appropriately enable a deeper understanding.
So much better than Piers Morgan.
Good comment. I watched Gary’s recent extended interview with James O’Brien whose position on many things I admire. However Crishnan’s slightly more combative style of questioning was a little better in drawing out the best arguments from Gary. A good performance from both 👍
Gary left the best arguments unsaid.
Looking at Texas and Florida being the two states that recovered fastest from low housing supply after the pandemic is sufficient to demonstrate that immigration is not the cause of housing shortages. What immigrants are is a massive subsidy for an economy. I spent the first eighteen years of my life wearing out clothes, eating up food, crashing my bike. I was an adorable drain on society. Consuming, not yet producing. Allowing young adult immigrants into the country, their unproductive years already paid for by another country, ready to spend their productive working years here? That’s the optimal case scenario for our economy.
And he didn’t mention how positive it is for an economy for home prices to be low. Turns out that people having spending money after rent is paid translates into revenue for local small businesses.
@@SigFigNewton Countries may vary. I can see your point that having a fit, healthy 18 year old arrive in your country ready and willing to work can be a good thing - provided that the local area doesn't already have an abundance of similar people competing for the same work, of course. Also, the UK is currently in the position that it requires certain specialised nurses to work in the health service now and it isn't just them that immigrates: some of them are already married with a family, that come as well. (Long term: incentivise young people in the UK to study nursing at university rather than Taylor Swift Studies, as well as to stay in the profession once qualified.)
Gary was mentioning the opposite side of housing prices, as that is what we have in the UK: high prices. He talked about his parents buying a house through a mortgage of 2-3x salary, whereas now it is nearer 10x salary and potentially increasing towards 20x. There are people alive now who have no realistic prospect of ever buying a house! If a proposed wealth tax reduces house prices, that would indeed be helpful. (On the immigration side, there are apparently councils in the UK that have had to take over whole hotels as accommodation for new immigrants - legal or illegal. The lack of available accommodation makes it hard for young people to move out of their parental home and start a family in a place of their own.)
My town used to have a debenhams, house of fraser, and BHS just a few years ago. They're all gone now. Replaced with cheap stores like B&M or home bargains. It's pretty clear the middle class is rapidly dying just by looking at the high street.
You see it in the housing market. New houses are often 5 or 6 bedroomed detached houses or rabbit hutch new build flats. Old houses are either large and luxurious or split up into hmo's. Middle of the range semi's have gone. It's all mostly expensive luxury housing or low quality housing. The middle has been completely hollowed out.
I’ve been sewing it happening for years tbh. Probably since 2000. I noticed people were shopping online and looking around more for bargains. People with decent money don’t do that. Course it’s skyrocketed now.
@@KenBranny And even the low quality housing is so expensive that I as a person with a nice 30+ k a year can't even dream about it until another 20 years of saving, by which time those same houses will have tripled in price at the very least.
Absolutely but also due to neoliberalism allowing these once almost family owned stores to be sold to and run by investors and hedge fund managers. They loaded them up with debt and ran them all into the ground and ran off with all they could. It's also the reality that people just don't have the extra money to spend on stuff. All our salary goes on paying rent/mortgage/bills. Anything non essential has been slashed. I know my spending has and ditto for my family and friends. Also as we have lost our secure permanent housing like we had with council housing and fairly affordable homes to buy, the spending on DIY on furniture or so on has been slashed. Private renting has meant no spending on home products and landlords siphoning off 50% and 60% of our salaries. There is nothing left after you pay your bills and transport costs.
Of course " Debenhams, House of Fraser, and BHS" closed down. That is down to local council charging huge sums for parking fees (it is a form of taxation). How people dress change. people are dressing down. People buying from cheaper stores such as Primark or ordering online. The man in the 1960s and 70s wore a suit to work.
I dislike taxes for one main reason: the government requires individuals to calculate their own taxes and imposes heavy penalties for mistakes. While I have no problem paying taxes as a US citizen, it seems strange to me that I have to do the paperwork when the government already has all the necessary information.
I don't regret the financial mistakes I've made in the past, as they've all taught me valuable lessons. However, my biggest misstep was planning my finances without consulting a licensed financial advisor.
I did seek the help of a financial counselor, and as I approach retirement, their advice has been invaluable. I initially worried that compound interest on index funds wouldn’t be enough since I started late.
Sharon Ann Meny is the coach who guides me. With years of experience in the financial markets, her strategies have worked well for me and contributed to my success.
I think that is just a US thing. In Britain it's all handled by your employer, so only an issue if you're self employed
That’s just a thing in the US, and it’s due to lobbying. The rest of the world the government do it for their citizens.
I've watched Gary repeat his view a few different times now and while the message is the same, his argument is now much more concise, practical and supported with examples. Don't stop man, I've got everyone I know on board (Most of them are quite conservative btw). They ask me how can we tax the rich if they are so good at hidding their money? I say: simple, don't go after the rich, go after the wealth.
Absolutely 100%
Exactly... it should be "tax the extraordinary wealth", not "tax the rich" if it was about precision.
Have you understood why Gary doesn't attack the root cause: Private ownership to the means of production?
@@a.brekkan4965 WHAT?? Capitalism is the only solution. How has Russia, China worked out? No! Compition to be the best through owership, owning businesses, and growing. Growth!
@@adaslesniak Look at UK agriculture and world agriculture in general to understand the ramifications of taxing capital assets. This quite possibly applies to other sector too.
The returns accrued by farming in UK are so unpredictable that income tax can be the only fair way of taxation, however, in the case of farming returns can can be so volatile that a high tax year may scupper the prospects for a drastically abysmal year.
Gary - this has been the best interview you’ve done by a mile.
You’re getting better at this every time.
Each point was clearly conveyed, a strong message at each point.
Krishnan was also an exceptionally fair and insightful interviewer here - asked all the right questions, challenged you where needed, and allowed you to come through an answer.
This will be the interview to send everyone who wants a thorough overview on your ideas (as well as the youtube ofc)
This
Gary is brilliant
@ but this was the first time i felt that he absolutely nailed it. Krishnan knows what hes doing and is also really good, helping gary along with it. Class
He needs to improve his arguments.
On housing, point out how healthy it is for economies when *lower* home prices enable to have spending money that then flows to local businesses.
On immigration, point out how immigration, far from being harmful, is a wonderful economic subsidy. The childhood years of these people were paid for by another country, and now we get their productive working age years.
He’s correct, but I’m not sure he understands how very correct his views are. He thinks the tradeoffs are kinda bad-ish.
There is no trade off.
In the US, the two states that recovered fastest from pandemic low housing supply: Texas and Florida.
Immigrants are not the cause of housing shortages. Full stop.
If building more isn’t getting it done, simply pass a large tax on long term vacant properties. Imagine if the basic human need being hoarded were food.
I've watched Gary on several of these now and this was by far my favourite. Say what you will about Krishnan but he is a proper interviewer and unlike podcasts' tendancy to pander to guests, he pushed Gary and Gary had a clear and coherent as argument nearly every time.
In an era of frankly p*ss-poor politicians when it comes to understanding your subject matter, Gary was able to deliver his message with passion and precision.
Literally poor politicians having to beg for funding for their campaigns and for the country. Norway found oil at the same time as the UK in the 80's. Taxes and openness meant very different results. They have a decent standard of living that boosts its neighbours. The UK has not much to show for that boom and falling standards.
I normally can't stand Krishnan and his pompousness. This interview was truly outstanding though
I agree. This really highlighted not just Gary but what a good interviewer Krishnan is. He challenged Gary on literally every topic that the rich would try and discredit Gary on and Gary responded to every single topic with his usual brilliance. This is the most compelling Gary interview I've yet seen, thanks to both Gary and Krishnan.
Gary we need you. Even if you don’t like being targeted you have an obligation of helping the average family as you seem to be the only voice the middle and working class can unite behind. I’m counting on you to help change our children’s lives while we’re stuck in the grind trying to provide.
36:20 is exactly why people support Gary for his honesty. Gary is saying the truth and people better understand and act on it fast. Educate, agitate and organize. Thats what a great man said once. Gary no matter who attacks you, a lot of people across the globe really appreciate you.
Amazing interview from a person who clearly genuinely wants to help. You often hear that the rich have no concept of the what life is like for the poor and, latterly, the middle classes - but coming from Gary who has inhabited those spaces, it really brings home the reality.
Please know that despite any attacks, you’re appreciated by so many people!
Empathy
History will show Gary was right. But by the time people realise, it will be too late. “You will own nothing and you will be happy”
I believe the "you will own nothing" part of their promise... not the other part.
@@sea_ellefYou should have voted for Corbyn
It HAS SHOWN he is right. Be confident and have faith in Gary.
This guy articulates the argument for higher taxes far better than Corbyn, who just reeks of politics of envy.
@@harry96516 He most definitely explains our economic landscape better because he’s one of the most successful and talented economists in the world, and he’s already proven that by his run as a trader. You’re only saying Corbyn came across as envious because he doesn’t have the same history. Trust and believe if Gary wasn’t a successful trader, people like yourselves would say the same about him (ie he’s only jealous that he isn’t rich and successful).
Excellent analysis! I'm favoured, $84K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America. A little over two months ago, I started investing in XRP, the S&P 500, Bitcoin ETFs, and other cryptocurrencies. That's almost ten months of my salary here in Dallas, Texas. Cheers! Keep investing until I have a life-changing result.
As a beginner, what should I do? How can I invest? On which platform? If you know of one, please share it.
Yes! Today I'm celebrating a £32,000 stock portfolio...
I started this journey with £3,000... I haven't invested any time, and with the right conditions, I now have time for my family and...
What is the best strategy for making consistent profits with cryptocurrencies?
How did you do, please? I consider buying and holding crypto assets a waste of time. I want to learn how to trade on Trade and start making daily profits.
It is advisable to seek professional guidance when creating a solid financial portfolio due to its complexity.
We need more people like Gary. Intelligent, insightful, not consumed with greed, and willing to criticize those in power/ultra wealthy that are destroying the middle class. We are in a class war whether people can admit it or not.
The middle class was fooled. It has always been rich vs poor. They have no interest in making it easier for the general population to compete with their wealth accumulation. People need to realize that. You have to learn how to play the game on their level if you want even the slightest chance at freedom. I’m surprised that so many people vote for this system and allow it to persist. Or do we all live in a true oligarchy? If the government was doing what the general population wanted, I wouldn’t expect a system like this to fester. Most people will never be ultra wealthy and most people are not wealthy, so who is really in charge around here? The system is failing for working people and that is the only thing that is certain.
What do you define as wealthy?
@four
People who make their money by owning rather than working
You are one of a kind to mention the class war and to stop the class war, especially when they are trying to destroy middle class and create class war between middle and working classs families so thank you mate haha
This guy is wrong about everything. A true grifter. Ask him basic questions about the economy and he reverts to, "I'm right about everything, I said this years ago" blah blah blah. He's not right about anything. He's not qualified to tell us what to do and he's rich himself. A millionaire. No one needs a million pounds, so let's take it off him. Oh wait, it's only for the billionaires. What jobs has Gary created? How did he make his money?
I’m so grateful that I discovered Gary. While he’s rich now, he wasn’t born rich and didn’t grow up with a silver spoon in his mouth. Now to comment on his point about the income ratio to the price of housing … my great grandparents owned their own home. My grandparents owned their own home. They didn’t own to rent their homes out, they owned to raise families. Today I live in a wealthy county where the average home price is $850,000 (and no mistake on the zeros) but the average income is $48,000. Houses that cost $250,000 before the pandemic are listing at $750,000! It’s insane and a system that cannot support the work force. Keep sharing Gary and keep following him!
I agree
Gary has completely changed my worldview. The world didn't make sense, and suddenly it all clicks into place, all of it.
Cost of living, billionaires, rise of political extremism.
I wish I'd found him before the election.
@@kirotheavenger60 I’m kind of understanding it now.. I thought all rich people were evil and hated humanity.. but really they are just an animal who is in fear.. and in competition and their response to those two things is to hoard wealth to put themselves ahead of recessions and other financial setbacks.. that’s why they hire the greatest financial advisors money can buy.. so they can conserve their lavish lifestyles.. but as inflation rises and hyper competitiveness increases.. it is harder for them to maintain said lifestyles..
@Rase-iwnl- I'm not sure the rich are scared. For them, the economy is going great, better than other.
The majority of them I think are simply ignorant and/or uncaring. They buy assets such that they increase their own wealth when they can just as everyone does. They oppose taxation on themselves just as everyone does. They look at the booming stockmarket and think the economy is great.
@@kirotheavenger60 You had never heard of 'tax the rich' before? Are you 12?
@ That's helpful
My dad finally came around to stopping the "your generation are soft" nonsense and admitted that he knew people who bought houses on a postman or fishmonger's wage back in his day, whereas now you have couples who both have advanced degrees and can't buy a home. It's insane.
@harryfieldson by design to hide their inflationary monetary system - why do you think feminism was pushed -the bankers didn't care about 'equal rights' they just used that narrative as a front to get the other 50% of the population out to work so they could tax them. They knew that everyone would agree to equal rights and by the time the population worked out what was going on inflation would be so high it would need to incomes to have what one income used to provide.
The super rich own plenty of houses. If houses are easily available, then who is then going to pay their mortgage for them, through renting, people who can't get a mortgage.
Marvellous system in this country, banks are fully aware that people are paying more in rent than they would be if they buying but won't give them a mortgage !
There's zero risk, you don't keep up repayments they'll just repossess and sell to someone else.
Totally rigged system !
This really is the heart of the entire matter. The ordinary person/family are struggling to cover basic necessities, and I very firmly consider a home a necessity.
This generation has their ideological issues for sure, but how disillusioned must they be if they realise that, bar winning the lottery, they aren’t likely to own their own home. 😢
My heart goes out to them because their financial future is bleak to say the least.
well i would wager that a fishmonger added a lot more value to society than a person with an "advanced degree". People with "advanced degrees" largely add no real surplus to society's collective cart. You can't eat an app.
@@CillBill94this kinda attitude isn’t helping matters. Doctors, surgeons, and teachers etc have advanced degrees. They are needed as are trades people and salesmen (fish mongers).
Out of all the interviews & media appearances you've done since the paperback came out Gary, I think this is the best one. Krishnan really helped with his questions too.
Good questions Krishnan. Great answers Gary. A sincere thank you Gary for putting yourself out there and fighting the good fight.
His right about a lot of things however clearly is blindsided on the immigration angle mass immigration support the billionaires it keeps wages suppressed via competition and house prices high by the same ..
From one human to another... Yes. Listening to this bloke is switching on a thousand lightbulbs for me.
I hardly vote these days, but 1% on the riches wealth over 10 mill will definitely get my vote. It's time to tax the filthy richests! Just subscribed to Gary, definitely behind him. Just got additional support.
Yes, 1% is a small amount and they would still be extremely wealthy.
Think this is a green party policy already
This was green party policy in 2024
I voted Greens because they were the only UK party proposing a wealth tax. Fix wealth inequality and it makes a lot of other problems easier to fix
@apinksquid The wealthy already pay more tax than any other group. There is already an wealth tax.
I’m in the top 1% of income. I pay a huge proportion of my income in taxes. But my savings are now getting returns greater than my rate of savings. Returns from unearned income will eventually exceed earnings from work, and are taxed at a lower rate. There should be taxes on wealth, or it is inevitable that 99.9% of people will not own anything while 0.1% have it all. That 0.1% are manipulating the conversation to convince that 99.9% it’s not them to blame.
marx started to talk about it in 1867, but people didn't listen...
Exactly . It’s the asset accumulation
There is only one system of governance that taxes wealth not income and that is the Islamic system of governance. Disposable wealth is taxed at 2.5%. People do not think such a system of governance will work but it worked for over 1000 years. The target of the taxes is not the working class or those living hand to mouth. The target of the taxes are the mega wealthy as they can not hide behind corporations and limited liability companies under the Islamic system of governance. They will be taxed 2.5% on their hundreds of billions and to avoid paying taxes they have to dispose of disposable wealth which they can only do through reinvestment and that then helps grow the economy instead of a small group of people hoarding huge wealth.
Three people are sitting at a table, a super rich, an employee and an immigrant. On the table are 100 biscuits. The super rich person takes 99, then points at the last one and says to the employee "The immigrant wants to steal your biscuit".
That is what is going on currently, with all of the right wing parties blaming the immigrants for everything. Meanwhile they openly have more tax cuts for the rich listed in their party programs (see AfD in Germany as a prime example).
We urgently need taxes on wealth, before the extremists take over everywhere.
@@paksarzamin6550 Which countries practice this system successfully today?
The worst part is the people working hardest are getting the least remuneration for their efforts and then shamed in the media for not taking more hours, more work despite the poverty wages. 40% of people in work need state support. That’s a reflection of greed not poor work ethics by working people. This is being done by design, by greed.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either digital currency or stocks.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
@@rougeur I've always delegated my investment decisions to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
@@face2lune I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Protect this man at all cost. His idea is the only idea that can solve all our society issues.
Yes we need to protect him. Remember what happened to Jeremy Corbyn and the drugs and accusations of anti semitism etc - but only when he started to attract millions of the youth of this country and grew Labour into a Party with a huge membership and radical policies.
Taxing the rich is not his idea, are you 12 years old or something?
He's the only one advocating it and clearly outlining it, so it may as well be his idea. @@loolfactorie
Nothing will stop your societal issues. This is only the beginning. According to Daniel 11 a man will come that will raise taxes and basically he will rule the world(the kingdom) for a short while then after him the beast will arrive and he will take the wealth of the super rich and give it to the poor and he will rule the whole world as ten nations will give him the power of their army’s and of their nations and he will cause everyone to get his mark in their foreheads or right hand and you can’t buy or sell unless you have the mark or the number of his name. Then there shall be a Great War and trouble unlike the world has ever seen and a Great War that if the Lord doesn’t return they will kill all flesh on the planet. Then the Lord shall return in the form of God. The Bible is 100% true in all of its predictions. And this too will come to pass.
Morons. They tried this tactic 100 years ago in the Soviet Union, look how that turned out. If you increase taxes too much, those who have the means will just leave. Leaving you with the bill. Guess what, you need the rich way more than you think.
How about talking about the ACTUAL issue, instead of blaming the rich all the time. Your government prints money out of thin air to fund their extremely expensive ideas: Immigration, Net zero, etc etc. Why do you think stuff is getting so expensive? It's not the lack of taxes, it's increased inflation....caused by increased money supply. It doesn't really help that millions of immigrants needs a place to stay either, skyrocketing the cost of housing.
This clown just repeats what the media has been whining about for decades. And we all know who the media supports. Good luck getting them to admit their goverment overlords do anything wrong.
I very rarely comment, but feel inclined to feed the algorythm. A inspiring conversation and a long-overdue message. Let's rebuild the left.
I'm feeding the algorithm too 😂😂
Totally agree. Tho only thing I would add is that this doesn’t just apply to the left leaning to fix, this applies to the majority of us, regardless of political persuasion. Let’s work on getting the message out and avoid the trap of becoming factional about it.
@@colinherdWell said there, Colin 👌
Yes, feed the algorithm
Best video on the economy I’ve ever seen.
The biggest thing that’s come across here is taxing WEALTH is different to taxing EARNINGS so many times those wires got crossed. People need to be educated on the concept of wealth it was the biggest thing I learnt from these videos.
And is it right to tax wealth..? The wealth of the accumulated things you’ve already paid tax on? What is the level of wealth that should be taxed? And what %? Why not just go full Zimbabwe and take things of people?
@@BreakBeatStu have you even watched the video lol? taxing wealth over 10 million at 2%.
@@BreakBeatStu It is no less right to tax wealth than it is to tax income. On the contrary, following the evidence of our current circumstances it can only be more right (or less wrong depending on your perspective on having taxes at all).
Agreed. Everyone thinks that higher taxes apply to them. Why don't we set a number? Let's say anyone with more than 5 million in cash assets needs taxing
@mongolmcphee7791 hi
Way to go Gary and well done Krishnan for what is the best interview of Gary Stevenson and his views by a ‘country mile’! So easy to watch, and engaging. Really enhances anyone’s understanding of wealth inequality and the dire consequences of not effectively taxing wealth and the very super rich.
An interview where the object was not to win the argument or personally attack your opponent. Instead a discussion that aims to inform and move the discussion forward. Outstanding, well done both, more please.👍
This guy is wrong about everything. A true grifter. Ask him basic questions about the economy and he reverts to, "I'm right about everything, I said this years ago" blah blah blah. He's not right about anything. He's not qualified to tell us what to do and he's rich himself. A millionaire. No one needs a million pounds, so let's take it off him. Oh wait, it's only for the billionaires. What jobs has Gary created? How did he make his money?
@@AtlasofInfo I think you're missing Gary's point. What he ultimately wants is for us, the middle or working class, to educate oursleves on WHY we are poorer now than we were previously. He isn't lying about being rich now himself, he isn't trying to imply he wouldn't benefit by us listnening to him (why would ANYONE say anything publicly that isn't benificial to themselves?).
What he is doing is ... finally .. for a fucking rich person ... BEING HONEST. You are poorer because the rich are taking all the money. The rich want you to blame other poor people for your problems so that you don't blame them. This isn't complicated, another point he keeps trying to point out.
I've only just realised, after taking time to give you a considered rebuttal, that you're a bot aren't you?
@DaemonM That's your response to my comment? You're so bothered by it that you refer to me as a bot. No one could possibly disagree with you or Gary.
Your grasp of the real world, history and economics is infantile if you simply think that you can take all of their wealth and there will be no ramifications to this. We'll take their land, their factories, their business. Then what? Are you going to run these factories? Are you going to sit in the office while the workers dig out? Who will be doing what? In the Soviet Union and China, the political elites were and are as rich (at least by living standards) as our billionaires and they don't get their hands dirty. Meanwhile, their citizens are/were either enslaved, lived a pitiful existence by comparison to us or they were simply unalived. It will work here, though, right? You will be in charge. The person who thinks everyone who doesn't agree with you or Gary is a bot. Can't wait.
@@AtlasofInfo It was a long time ago but after WW1 many of the great houses had to be sold to pay taxes.
Some of the estates were made to work, others were broken up into parts and rented to small farmers. It was the latter type which left an owner getting income from many other people.
After WW2 much of the infrastructure was in a bad state and the government bought it to repair and run.
@@AtlasofInfo you are spectacularly wrong on all counts & in all details. Mr Stevenson is not talking about millionaires, he is highlighting the fact that income inequality is unsustainable & toxic. Over the last few decades billionaires & multi-billionaires, the global oligarchs & kleptocrats, have amassed & now own a massively disproportionate amount of our national assets from which they earn a huge passive income. Using this passive income they buy yet more assets. The socio-economic system is massively out of balance. Like any system it will rebalance, the choice is either an orderly rebalance (a progressive tax on the extreme wealth on the assets of super rich) or a chaotic one, which will be much worse, more violent & any intelligent human would wish to avoid this. Mr S is clear, precise & logical about this, your comments are none of these. Tax wealth not work, assets not efforts. Simple. Work the problem, don’t just attack those trying to solve it. Look at more on garyseconomics RUclips, then you will see how far of the mark your comments are.
I've followed Gary for 2 years now and he's massively improved my understanding of how economics works. Every video is riveting. He uses easy to understand examples and language. I'm so pleased to see him here on a major news channel. This has been a fantastic interview. Great questions that draw on Gary's knowledge. He's slowly gaining traction. His channel is growing, he's the most honest, straight forward, intelligent, skilled economist out there. Please everyone like and share.
Perhaps you can explain why Gary doesn't suggest for the state to expropriate the means of production?
You keep asking this. I don't think he's a communist. It *could* be made to work without ending up with state run economy like China (I assume we don't want that?) - say workers' cooperatives - but he's interested in economics and policy in the system we have atm. Maybe he'll come to revolution in time ;)
@ The problem is that the wealth tax doesn't work. It has been tried, tested and rejected by 12 western countries. Sometimes I wonder if GS has been hired by capitalists to work as a decoy.
Gary is proper job. Listen to him and listen good because hes trying to save your lives.
UK is run by Israel and is full of cretins fraud and geno sides. Gazas curse hasn’t even started yet.
naw, Blaming billionaires for something that is the fault of incompetent political leaders that borrow money instead of balancing the budget to buy elections is silly. He is not the sharpest tool in the shed.
No he's not. He puts on the working class dumb guy act and says generic things to get people on his side like tax the rich.
I guarantee someone is funding him because you don't just pop up on interviews out of nowhere and that there is some other motive
Absolutely love Gary. He speaks the truth, but no one in power listens. They'll never listen, as they just don't care about the common man.
Love Gary’s work.
Coming from a working class family myself.. seeing wealth inequality increase all over the world Gary’s message is the one which need to addressed more and more!
TAX THE FUCKING RICH!
You do know the top 10% in the UK already pay more tax than the entire country of France? 😂😂 abt 780 billion
The UK collects the most tax in the world already 1.3 trillion!! third only to the US and China and your government still can’t balance the books.
Realize tax won’t save you. Your governments have been so inept for 25 years. You need to tear down the whole system and start again
The reason wealth inequality has risen is because your incompetent Bank of England has created 70% of the money supply in the last 5 years. That’s a huge tax on the middle and working class who rely on wages (ie your wages have been devalued as the boe creates more money out of thin air)
You could tax the rich 100% of the tax burden and your country would still suck. It’s much deeper than that 😂😂
If you over tax the rich they just leave, because they can, as they already pay more tax then everyone , and they take their money and in many cases, their business with them.
@ intersting point..
I think what countries can do is in order to access the country’s market companies and super rich should be paying their fair share of tax..
simple: you want to access consumer markets in the west which arguably have the highest spending power pay the wealth tax.
or better, spread the wealth better... let others have a piece of the pie, Middle Class is pretty much anyone from £30k a year to £70k a year, once you move beyond 50k you are screwed on taxes and everything else, until you go beyond 500k and can start hiding your money away.
@@PatrickF.Fitzsimmonsyou havent watched the whole video if you keep with this opinion, he talked about it.
I barely comment but Gary's message needs to reach as many people as possible. Tax wealth more, tax work less!
One of my biggest financial mistakes was not being born in 1930 and dropping $100 into the S&P 500.
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Sure i can! Eileen Marie Kurth is the advisor I use and her performance has been consistently impressive. She’s quite known in her field, look her up.
Thanks for the info. I searched for her full name and found her website right away. I reviewed her credentials and did my research before reaching out to her.
Krishnan is a good interviewer. Great to see Gary defending his position against some tough questions.
I love that Krishnan went from challenging him early on, to trying to learn from him later on!!!
I felt like it went the other way round!
Brilliant interview. Direct, clear to understand. Nice one channel 4!
Are you serious? Apart from the only good thing they did that is to give Gary a platform, the interviewer is the perfect example Gary gave of media failing everyday people!
Better than the BBC, Tory shills. And they get funded by the license fee (which I've not paid in decades).
@@nikitali5129 Seems nice. If I had a ferret that somehow mated with a bulldog that was slightly tarded and could only speak in broken cockney while spewing Marxism, I would name it Gary.
@@nikitali5129 a good interviewer asks the difficult questions the most extreme, propagandised or stupid viewer asks. It helps to bring those people around.
@@nikitali5129 he presented important objections that people will have. This doesn’t work in an echo chamber
This is the message we've needed drummed into the mainstream but there hasn't been someone to effectively do it. Until now. Tax wealth, distribute wealth.
I agree. The counter is usually "it is communism!", because most poor people think that someday they might be billionaires.
Government/centralised power has always been terrible at that though.
@Anonyymikiljukannu let's get those people to achieve multi millionaire status to show them that more money than god can't buy happiness.
Ah yes, Communism. That usually works /s
How about talking about the ACTUAL problem, instead blaming the ones who give people jobs. Stop voting for politicians who wants to fund the very things that is destroying your country (immigration, net zero etc). Inflation is killing your economy, NOT the lack of taxes.
I don't think Gary need a phrase (he is legend as it is), but I do want point out that Krishnan did a great job as a journalist... first of all to let him speak and explain his ideas, but also to ask relevant questions that actually complemented ideas being discussed and helped to avoid confusion. I do think Gary sometimes can be difficult guest and again I think as journalist Krishnan handled the podcast well, keeping it on tract etc. And that is great - we need to have Gary out and around on mainstream channels on as many channels as we can and spreading the message. So it is great to see Channel 4 and Krishnan basically helping to spread the message.
Gary's doing a lot of good work validating the experiences of working people. Love his stuff, and thanks to Krishnan for giving him the space to speak.
geez, you should do a video about Gary --- but like in the opposite style to your normal ones -- it would be really cool to have something positive to watch 😜
I have watched the wealth inequality increase for over 45 years. I have understood the necessity of taxing extreme wealth for a long time. Thank you for your courage in giving this very important message a voice.
Don't look left or right. Look up
@@MemeHook1I mean this is left bc left cares about class, but right wingers kind of agree on class-based issues sometimes - I’ve been both left and right wing…
Like I used to be definitively right wing but fckn LOVED Bernie Sanders, Corbyn etc… because they obviously stood for something.
They stood for the working class, never seen anyone else in politics do it the way they did.
Which sort of how I became left wing. I eventually realised political issues have material motivations behind them.
It’s one owning class messing everyone who gets paid a wage about. That’s just capitalism.
I was already a Gary fan, I'm now a Krishnan fan too. Excellent interviewing! He allowed Gary to answer fully and really dug into the response with balanced counter points. Other media outlets take note - this is how it's done.
I’ve never met somebody more economically stupid than this Gary guy.
Krishnan has always been like this. Very good journalist
This guy takes “Goldman Sachs runs the planet “ to a whole new level. I’ve never had such a sick feeling in my stomach.
Thank you. I’m buying the book.
Presenter made this a very good interview prepared to listen and not panic like piers Morgan usually does when he hears that billionaire's might be taxed
It's like he starts to have $eizures!
These people who have more money than they could ever spend and then put their entire strength behind a political project to ensure they get more while the rest of us get less are grotesque. We need to be more like Gary and act with more solidarity to our community.
Let’s make Gary’s channel bigger than the media!
he made the point the very first time in the beginning and has been trying to explain and expand till the end In so many ways. all the money is going back to one place no matter how much you make your money will end up with who has more money because they (those who have more money) positioned themselves to be where your money ends up.
I love this man. He speaks so much sense. I don't understand why the government and the media at large don't get this.
Oh they get it alright. Doesn't mean they want to do anything about it.
They 100% get it and always have.
@@Internonalla They are literally controlled and owned by them.
There's a reason rich people buy media companies, like bezos buying a newspaper, and it's not because they are profitable
Maybe because it's never been shown to work.
“The rich are growing their wealth at 5% and eating your cake. We must reduce inequality by taxing the rich”
You rock!❤
I think we all know why that is never going to happen.
the rich you are thinking about is not the one that is eating your cake, the real reason for the little guy have a hard time is our monetary system (dept based) and the big banks in collusion with governments robbing you via taxes, fees and debasement of you money.
That was a good interview because of Krishnan. Gary was challenged more than usual to explain his ideas in depth - and they held water. Excellent dialogue.
Whao! Love this guy, Gary.
I have dreamed of this revolution for a long time.
The wealth of the world should be redistributed somehow to balance the level of inequalities.
I believe that taxing the rich is just a scratch of it.
Their major source of defrauding the people through sales of stocks, assets, and betting outlets should also be conditioned to prevent excessive accumulation of wealth by one individual.
Great interview 👍
G
Gary Stevenson for Chancellor of the Exchequer ⚖
Way more qualified than Rachel from accounts.
Would be more comfortable if he did a few years apprenticeship under McDonnell, but yeah, I had a similar thought.
Keep doing it Gary, not only for UK, for the whole world.
Much support from Spain!!
Tax the rich
Fantastic to see Gary being given airtime, his message could not be more urgent.
I just love this guy. Intelligent, no bullshit or fluff - man of the people! Great answers to every counter argument. We’re all behind you Gary, keep fighting the good fight my man! 👏
Thanks for helping us Gary! We're all supporting you. TAX THE RICH
Gary is top bloke. We need to make this boss bloke PM ASAP
I wish that could happen, however its taking Farage an eternity just to get his foot as an MP of a small right wing party. Gary would need som serious backing.
Infinitely better than Rachael from accounts.
@@jungleboy1 Farage is an American infiltrator and an Israeli asset, his rise is not organic. Gary has an organic following.
Why? So we can blame him next?
@@KS-jn5pv good point
Just discovered this guy. I can not think of a more brilliant and concise, easy to understand way of explaining the economy and wealth inequality. Amazing job gary.
Dude is a moron. He just repeats the usual "tax the rich" trope that the socialists have been doing for ages now. He's a lving example of how people get brainwashed by the media. The issue is clearly not the amount of taxes, it's how they are being utilized. Your government is printing money to fund their insane ideas (immigration/net zero etc), in turn making the currency worth less. When you increase the money supply you increase inflation, that's basic economic knowledge.
You could tax the rich into oblivion, would barely make a difference for the average guy. The fact he is constantly blaming the rich just goes to show he completely ignores the actual problem. If you tax the rich too much, they just leave. And YOU are left with the bill.
The rich is already paying most of the taxes, going overboard will only make things worse.
That's the problem with Gary's script. The economy is not easy to understand and never will be and by trying to force it into a digestible arguement he's completely ignoring vital factors.
@@benjohn2512What vital factors did you pick up on? I thought the UK assets being sold off is one where with plant and equipment, that could mean physical transfer out of country that would decrease productivity and output in the UK. I don’t disagree with his overall argument about wealth inequality as the facts speak for themselves, but implementation of policy is extremely challenging, along with effects on wider society where we rely on imports of many items.
@SnorriTheLlama The problem is created through government policy and regulation, not lack of taxes. I agree that wealth inequality is a massive issue but it is impossible to implement a higher wealth tax without destroying your own economy in the process. Taxing assets is also a very difficult thing to do because the value of assets are constantly changing. To implement any sort of wealth tax, whether that's based on income or assets, the only way it could ever work is if every single country in the entire world implemented the same tax. For obvious reasons, that will never happen. There will always be governments that take advantage of the stupidity of foreign governments.
@SnorriTheLlama What no one is talking about is education inequality. That is the source of the problem we are seeing now. The best, realistic solution that can actually be implemented is providing proper financial education in schools from an early age. The average person does not understand how to handle their finances properly and equally has no idea how the economy works. The government uses this complete lack of financial education to divert attention from the corruption that continues to enable the extension of the wealth gap via corrupt policy and regulation. If the general public grew up with a solid understanding of the basics it would make it a lot harder for governments to get away with the lies and corruption they currently do.
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This is a conversation between robots...
We need people like Gary to fix the economy for everybody not just the super rich. Our politicians need to work with him to do that. I have heard him say he would be willing to work with any party, and he offered to do it for FREE.
How a marxist can fix the economy ?
Yes yes Gary! The message is now fully mainstream!! 💪😊
Congratulations Channel 4 on getting Gary on your channel, one of the best interviews I have heard on your channel.
This young man is an inspiration. I hope we learn.
A perfect example of a serious journalist/presenter have a discussion with a courageous and brilliant revolutionist. EXACTLY what this world needs. I'm just a GP, but this is the prescription I think the UK and the World needs.
Are there any GP practices in the UK run as cooperatives?
@@AtheistEveI don’t know specifics but I do know GPs in the UK are swamped and working ridiculously hard as the NHS receives less and less funding.
@ It would make sense for them to run as cooperatives. They are so intrinsically part of a community that enabling those who work within them and those who use the services to be co-owners/members would make a lot of sense. It would also reduce profit motive and increase community support. And protect our GP surgeries from being bought up by outsiders.
@@AtheistEveGPs are govt funded so a co-op wouldn’t really be applicable. They need to have strong unions instead and the government needs the tax revenue to support them
@@kondwas_art Exactly right. The business model for GP practices NEEDS to change. More and more funding is being pumped into PCNs, which have their own government based agenda and isn't always the most efficient use of resources.
As an American, I really appreciate the honesty and candor in this interview. Taxing the rich is looking out for them long term. How can they keep gaining wealth if the little people they look down on have no money to keep the big machine going
If the wealth are supporting political agendas with money, that's all that's getting regurgitated to the working class. Anyone watching this needs to share this with others.
Keep up the good work Gary!
Yes, so they can pay shills to fill comments on the internet with: "But it's just the politics of envy".
Exactly. Obviously they have plenty of money to burn bc they spend so much on economic miseducation and lobbying.
Outstanding...!.one of the reasoms i think.Gary is building a huge following is not just his total integrity..the likes of which we havent seen in a long time..but he talks in a way that is actually understandable to ordinary folk..for me it was a "lightbulb" moment ..it could also be called raising class consciousness, the pld fashioned Marcist term. But its actually something bigger thsn that ..the likes of which all politicians on the left have failed to deliver.for decades..an actual sollutiom..and most importantly ..a dire warning.if we dont do something.
99% of people love Gary, the others are rich?
The others are those who actually understand. He just puts on this working class guy act and says things he knows people will like.
What do you think his motive actually is?
I am falling down the Gary Stevenson rabbit hole and I am loving it
I’m tired of politicians promising to ‘tax the rich’ while my savings shrink. Retirees like me aren’t getting a dime from their empty promises. It’s time to stop relying on the system and start relying on ourselves
They say ‘soak the wealthy,’ but my Social Security barely covers groceries. Where’s the fairness? The safety net’s gone, and inflation’s eating us alive. You need a plan that works-no matter what they do in Washington.
My dad worked 40 years, paid his taxes, and still lost half his savings in 2008. How do you protect what’s yours when the rules keep changing? I don’t want to gamble on DIY spreadsheets or broken policies.
You don’t have to. I didn’t ‘get lucky’-I partnered with someone who knows how to shield wealth from recessions, taxes, and bad policies. My nest egg’s secure, and it’s not magic. It’s strategy
Wait-how does this advisor even do that? If the government’s taking more from the rich, why isn’t my portfolio growing? I need answers, not excuses.
Meet James Brendan McCall. He’s helped retirees like me turn chaos into opportunity. When they were debating ‘tax the rich’ bills, he was safeguarding our money. No gimmicks-just proven results
Brilliant response to Krishna's question about morality. Gary Stevenson, you are brilliant as always!
Thanks Gary for driving home the most important topic of our generation globally, all these points are valid everywhere.
And caused by the Thatcher/Reaganomics ie. Neoliberalism of the 80s which has become normalised and has destroyed most countries
Krishnan assuming and trotting out the belief that you get to be a multi millionaire by working really really hard 😂
Agree
Neoliberalism is a deathcult
@@Alison-LoveAndUnityYeah how come all chefs aren’t multi-millionaires? Ridiculous
@Alison-LoveAndUnity not working hard but working smart
Gary is a perfect teacher...He explains economy in a way any kid understands. He really is a great person!
Agree, his articulation is excellent, however it would be really really useful if, when anyone talking in terms of 'we (the UK) are £3T in debt, they explained it in context of what that is compared to. So compared to what? What usual amount of debt that our country carries? That the USA carries? etc...
something with Labour's constant bleating about the £22bn black hole? It means nothing if we don't know what the average context is for that debt?
@@Wob-rt1sc He's probably focusing on explaining in a simple and interesting way for ordinary people. Like he said, ordinary people are not economists. If he starts getting to technical people probably lose interest and won't watch the video to the end. Besides he is answering questions. He is doing an outstanding job! Congrats to him!
This is the best interview with Gary ive ever watched. He explains his narrative better than I've ever heard him articulate it before.
We need Gary because he explains it in a way that’s interesting and it makes sense
Thanks for having Gary on - now for Christ’s sake take on board what he is saying and why he is doing this!
I have been following Gary closely ever since the launch of his book The Trading Game. His eloquence and ability to vulgarise economics for laypeople like me (and cut through the jargon and mystification that normally surrounds these topics in the mainstream, I would contend intentionally) are exactly what western democracies need to hear today if they are to survive. Regrettably, but unsurprisingly, most legacy medias have shunned him as other than (i) a BBC panel that Gary utterly dismantled with the clarity of his thinking and direct talking and (ii) a hatchet job in the Financial Times over trivial and superficial issues (as opposed to the substance of what Gary says) he has been ostracised, shunned and avoided. So a huge thank you to C4 for giving him the platform his ideas and his voice deserves.
Perhaps you have understood why Gary doesn't attack the root cause: Private ownership to the means of production?
WARNING---Gary could have published his book online as a free download to help the poor and middle class he virtue signals about...he's a millionaire. Instead he charges and instead of helping a small independent publisher, he went with a $20 BILLION global media giant lol. He's a hypocrite baiting people and creating envy.
The backing of a major publishing house means he'll reach more people and have access to the publishing 'talk trail' of broadcasts and podcasts. He's pretty popular these days already among a certain subset of people. But it's sometimes hard to appreciate how siloed our media consumption is. A few times I've noticed that someone I find interesting with a 'big following' comes out with a book and suddenly more 'normal' people are aware of the author and their ideas, even if they haven't read it.
You have hit the nail on the head- he is popular with those who do not understand economics. That is because a lot of what he says is nonsense.
There is, of course, an argument for taxing the rich more but his economics is poor.
When handing out money, the government isn’t “poorer”. The cash wasn’t sitting in a savings account. Also, when you borrow to buy a house, you don’t “borrow from the rich”. When you get a loan, the money is created by the bank out of thin air by the act of borrowing, it isn’t lent from a rich person’s savings.
Gary is feeding you nonsense and you don’t know it.
@ you clearly have strong opinions and views, not all of which seem totally grounded either, and given this is a criticism you level at GS I think it is appropriate to put it back to you. There is a consensus that mainstream economists have gotten this terribly wrong, you only need to read Picketty, Stiglitz, Rodrik etc to understand that much, so not listening to the classical experts is indeed appropriate, and much needed. You are talking about money creation, whether by the state or commercial banks, which is a different topic. Everyone knows that fractional reserve banking is a myth and this is not his argument (yours only). I fear that intentionally maybe you are missing the central tenet of his argument which is that the return on capital far outweighs income from labour which causes inequality and that this is particularly concerning when productivity and growth is flat as it exacerbates the problem. This was the case in the build up to WW1 and is the same nowadays since the 1970ies. That is what he is saying and he is spot on. He uses shortcuts to make things easier for people toi understand (you point about getting a mortgage and borrowing from the rich). Everyone knows that, the point is rather than he uses shortcuts to focus on the real issues, which are the ones I just explained to you.
Gary, you’re our modern day Robin Hood. I’m sorry you’re becoming a target, but us ordinary people need you. We appreciate you. Thank you.
Those people are called communists
And that is certainly not a solution
This is very understandable and framed well. The money goes somewhere.
He makes it so clear. Channel 4, please have him as your finance expert because he's actually right and explains it well.
Gary held his own very well as always but these were excellent questions for Krishnan, turning the pressure up and drawing out Gary's best arguments and sharpening his tools.
Gary is one in a million. Well done!
One in 8 billion
@@NoraGermainquite a few signed the letter featured in one of his first RUclips videos
I have subscribed to Gary Economics because I can actually understand economics. Knowledge is power.
Thank you Channel 4 for for interviewing a meaningful economist, at long last!
Well said, Gary Stevenson!
Very Very well explained Garry, you are a good person, I fully believe you are doing all this out of your own innate goodness to help bring about greater equality. Thank you and if there is God ? May that God bless you. Mike
Amen
He's doing it to make money. In the same way he made money off the back of poor people during COVID (by his own admission). His whole position of "rich people are rich and poor people are poor, this needs to change" is not a deep economic insight, anyone with half a brain knows this. It's also how capitalism works.
@bengreen2200 wait so your saying him making money in the market "(by his own admission)" and making money by advocating that he and all other wealthy people are taxed more Is wrong?. I get he is able to sell books from this message, but his ultimate goal is to increase tax on himself, if his goal was just to make money he could just have kept working at citi bank.
How do you think he should be going about it?
I believe (as gary also says) if he didn't make alot of money, no-one would take him seriously.
The first time I've come across Gary and my gosh, finally someone explaining things clearly and honestly. It all makes perfect sense at last!! We need more Gary's in this world.
Brilliant interview. Krishnan covered every single topic. I could see he was genuinely excited to hear Gary offer an alternative to the usual economic claptrap we are so used to hearing. Gary absolutely smashed every question.
Gary’s no nonsense message is gaining traction.
This is the most powerful idea for big Western societies. Let’s hope it’s not too late to change our current course.
Have you understood why Gary doesn't attack the root cause: Private ownership to the means of production!
I cant believe that Channel 4 hasn't just done a blatant hit piece on Gary, there is hope for the future
Always good to listen to Gary Stevenson. Hugely smart and sincere guy. You KNOW he knows what he's talking about. Unlike, seemingly, politicians that are making decisions on the economy.
Gary Stevenson is one of our most important public figures of recent times!