The only power you have
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- Опубликовано: 12 сен 2024
- Gary on @podsavetheworld
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Performed by Gary Stevenson
@garyseconomics
I own a barber shop in Glasgow. I hear so many of my clients saying " oh, I checked out that economist's RUclips channel you told me about " I'll tell anyone that'll listen. I probably speak to about 250 people on a monthly basis, I've already told so many of them. ❤
I live in Glasgow not been to your shop yet 😂
Glasgow University Media Group....
Prof. Greg Philo
His work on wealth Tax is of world renown.
Bro, you are the GOAT.
Superb!
According to Reform you're laundering drug money 😂😂
"Inequality. The rich get the assets, the poor get the debt, and then the poor have to pay there whole salary to the rich every year just to live in a house. The rich use that money to buy the rest of the assets from the middle class and then the problem gets worse every year. The middle class disappears, spending power disappears permanently from the economy, the rich becoming much richer and the poor, well, I guess they just die."
-Gary Stevenson, The trading game.
Thanks Thatcher.
What elon musk has would take thousand of people thousands of years of minimum wage to pay what we owe him for his money... and that money is half borrowed half stolen from assets taken from africa under duress. So insane. And if the rich leave so what. One less black hole to deal with.
The poor spend every penny they have on food and shelter and that money goes to the rich too as they own the real estate and businesses. They also generate profits for the rich through their labour.
There's a similar paragraph in The Ragged Trousered Philanthropists.
Thatcher allowed ordinary people to purchase London property.
@dugebuwembo indeed before thatcher it was allowed to buy London property. What thatcher did was allow people to purchase public property ..that of the councils for housing the poor or needy also other public lands such as land bequeathed to the church for the use of the parish ..ie the public. Was sold off. Not to ordinary people of course. But lots of council houses were sold to the ordinary person. A very small 0ercent of England is owned by ordinary people. 30 percent is still owned by inheritance of Lords and such. And I forget how much percent is owned by foreign investors. Somrthing more than 50 percent or near i have forgotten now.
Keep going Gary....
Farage and Tice are private independent school rich boys.
1. People thought Brexit would make life better.
2. People are being told poverty is because of immigrants.
3. Reform UK are conning the poor white working class to think immigrants are the reason for their poverty.
4. Genuine benefit claimants are treated as criminals by authorities.Loads of questions and tribunals.
5. The rich Tory government gave millions to friends and people like Baroness Mone. But no questions asked or tribunals.
6. Steal money from the government pot and blame white poverty on Immigrants and Muslims -Bogeyman.
7. Google Farage and Tice wealth.
8. Tommy Robinson supported Brexit but made sure he had an EU passport.
9. People need to protest against the rich.
10. Don’t be racist. Just resist.
And at the same time we lost the power of Unions too
And we are slowly losing industrial regulation harming our health, introducing low quality products and terrible services for higher prices.
Gary is a clear insight because of his life experience
Zero value added suck up comment with bad grammar. Do better.
Which is?
@@jimbojimbo6873being a trader at a major bank
Gary, you speak simple truths so clearly. Throughout all of history and for billions of people now, the majority have lived in dire poverty with a tiny minority of extremely wealthy families living lives of luxury.
The problem with trying to tax the really wealthy is that they're very adept at not paying tax. They control a lot of media, make large donations to political parties, those politicians when in power then use consultants from the large accountancy firms (themselves very wealthy organisations) to advise on tax law when they're the very same people who advise the very wealthy on ways not to pay tax.
I like the Norway's solution. State owned (not govt run though) companies so that you start to take back some of the assets that the very wealthy are using to get even richer
In other words, they are😢 in control, and they can not shoot themselves in the foot.
Gary you're a force for good in this world.
Keep going mate 👍
💯
He got rich stripping wealth from the poor . And now he acts like a friend of the poor😂
@@jimmyfaulkner5746 who got rich stripping wealth from the poor?
@@jimmyfaulkner5746more than I see any other millionaire doing…
@lightcardsatlisas3932 this marxist making videos about redistribution
You are fabulous Gary, we will spread the word with you. Thank you!!!
Keep doing your thing, we need you!
Facts
Gary, thank you. We need to remember to unite. Stop fighting over superficial issues. Focus back on what is the real problem. The greed. Sure, poor can be greedy, but rich greed hurts far more. If the rich can take a step back just a bit, unite together with those who have less. It truly doesn't have to be a problem. We all just need to care about one another a little more. Even things out. We do not have to hit another depression. Come on guys. Literally 100 years ago. We should be able to recognize the pattern and circumvent this. Look at Gary.
Just like the U.S
Spot on!
Well there is also the value of labor. If the wealthly pay a higher amount for production labor (a higher percent of the revenue from production) then we do not need to tax them so much.
One or the other:
1. Heavy tax net income and capital wealth, then fund social services for everyone.
2. Share net income from production with everyone, moderate taxes on everyone above poverty line, moderate social services for anyone who cannot make production income.
Absolutely right Gary - and in addition what did allowing ordinary working people to have healthcare, housing and education create - GROWTH
Very sad and very true..ordinary people need to stop empathising with rich people as if they were them..they are not going to be poor even if they pay high taxes
You can withhold your labour as well - unionize!
Thx for mentioning the 80's. Most people are thinking this shit is new
So well said Gary. 👏🏻 Keep going. x ❤
Gary could you do a video on the history of Tax since the war detailing where it went wrong for example in the 80s please? Sorry if you already have and I missed it
Taxes went up after the Great Depression and during ww2 and they were slashed by neoliberals during the 80s in the USA, uk, and elsewhere.
neoliberalism under Thatcher and Reagan in the USA
The country was on it's knees in the 70's under the grip of unions the winter of discontent paved the way for thatcherism, which was low tax, privitisation based. Short term gains that led to the rising inequality we see today
Gary - I've been reading wealth of nations because of your videos - trying to learn economics now - but in this video you say taxation - do you think labour as a commodity comes into this? Or is that an outdated model - then from post WW2 to the 80s do you think it was taxation or the fact so many people died in WW2? Because the same thing happened after the black death in the 1300s when so many people died there was reform of inequality due to labor shortages - thanks again!
Good on you for reading for your education but two points:
If you’re going to talk about labor as a commodity, you need to read Das Kapital. You cannot really understand anything properly while staying in the approved lanes.
Deaths in ww2 in Britain and the USA were almost meaningless compared to tax policy, speaking from economic statistics. They were a huge influence in China and the Soviet Union but you’re not asking about that.
@@aluisious I understand what you mean and will come onto that book for sure - my point though was that this was a forced withdrawal of labour and rebalanced the economy in favour of those who get paid for labour - so probably exactly what Marx would suggest? But ideally not through death and suffering
I think that's why Gary says taxation as in a modern sense this is the easiest way to rebalance the economy in favour of those who get paid by labour versus asset owning classes
Three factors of production..viz
LAND......LABOUR.....CAPITAL....a la Big Jock Smith
X
Das KAPITAL ÷ the materialist conception of history...+ base/ Superstructure ÷ the grundrisse × Greg Philo R.I.P.
@@aluisious Das Kapital is trash by a trust German immigrant who never worked a day in his life.
@@rabburns1382 I bought das kapital to have a go and understand it but it's pretty bad so far
Gary you are a legend, keep holding truth to power 💪🏾
Started to watch Gary a few weeks ago and can understand his opinions, even though I differ; 1) a person is poor because of education, or lack thereof, specifically FINANCIAL EDUCATION. 2) Tax is used to "finance" a country or government, and that proposal of increasing the tax what you think is going to happen? The cost of that raise will be transferred to the poor. The gap between rich & poor is education, and the "elimination" of the middle class is because they're going to a side of that balance. That's my opinion, it is not a tax thing. In fact, there's also been tax increases in story and the "problem" still there or worsens
Also, the material economy was increasing, particularly in Asia, and there were great wealth transfers internationally in this way. If the material economy is not growing, it's a zero-sum game by necessity.
Poor people can also set fire to rich people's assets and force redistribution that way. See the French Revolution, for example.
@@jayandgemof course it would work
@snoogles007 the French revolution didn't improve things and most of the problems of Europe can be traced directly to that and France is on their 5th Republic and the idea that destruction of private property rights will fix the problem is laughable.
@@aluisious So you support theft??
When someone says ‘x’ is the only option… it never is… are we that defeated that tax is the only answer? What about ideas, entrepreneurship, and innovation?
I’ve got an idea - tax the super rich. My entrepreneurial mindset would ring fence that money, and build more schools houses and centres of excellence for disadvantaged students
The rich are paying less tax on their income than workers on PAYE. So yes fair taxation is a part of that solution. And while public services are on their knees for lack of income and national debt is soaring, it's clear we need to drastically increase income. And the rich aren't paying their fair share. Simple.
Neoliberalism is what happened... introduced first by Thatcher & Reagan. Neoliberalism is essentially corporate liberalism... a form of classical fascism or oligarchy.
You had me until fascism lol. What have Italians ever done to be included everywhere in such a fashion? 😅
@@Ptaku93Because the masses are historically, politically and philosophically ignorant.
Thanks Gary, appreciate all you do man! I’m spreading the word!
Caveat; a Marxist analysis might say that the only power ordinary people have is actually the threat of withdrawing their labour and, historically, it has been the power of the trade union movement and its ability to coordinate strikes that got us higher taxation and the global regulation required (Bretton Woods) that allowed it. But that's not to undermine Gary's point that what we need is fairer taxes. I'd be really interested in hearing Gary's take on Marxist economics 🤔
Bretton woods institutions were largely instruments of class war on us. Any increase of taxes on the rich came from concessions brought about by a rising and radical left. The establishment never says that's why they make concessions of course, but any gain for working people tends to come when they fear us. I have asked Gary to talk to Marxist economist Michael Roberts, who probably doesn't live too far from him, but he ignores all of my comments. He is essentially a liberal who thinks we just need to tweak the system, and he doesn't really know the history of the left and hasn't studied Marx much that i can tell. I think he's sincere, but he's missing a lot of history and context, and doesn't seem to be interested in being challenged. IMHO, of course.
I think the modern world is much different environment than we would've expected 150 years ago. First off, the population is astronomically high and a lot of labor is (and soon will be) entirely subsidised by AI which is basically capital intensive labor (more benefit to the rich) Class consciousness has zero hold in the UK as well, years of brainwashing through nationalism, empire nostalgia, the appalling state of our media run by the ruling classes and of course Thatcher basically bribed the public and sold them on capitalism by ensuring they get their own property (this also helped split families from communities, and therefore the idea of the common good. "There is no society", and she was right, because she killed it. The closest we have is the prescence of Corbyn and people like Gary or Mike Lynch, it's just not enough. Once inequality gets really bad however, and I mean once we start converting into a third world country, then we'll see a change. But this public distress can easily be co-opted by the right and Farage's camp to promote fascism.
And then there's also the worry of techno-feudalism. This is a term coined by Greek economist, Yanis Varoufakis but it essentially means that for all these large tech companies; Meta, Google, Tiktok, Twitter, etc... The users on the app, the consumers are also the workers of the company without even realising it. Every post on facebook someone makes, this generates value on their platform; Hence how these companies are so huge. This brings up a pretty Huxley dystopian forethought, our labor is slowly becoming less and less meaningful and the labor we do actually provide is of our own volition as people are addicted to their phones... I don't know what this exactly means for the trade union movement but I can't imagine it's positive.
Also as for Gary's opinion on marxist economics, when he calls himself an "inequality economist" it seems to be almost like a euphemism for Marxist. He wouldn't have made any of the money he's made without applying a pretty Marxian framework to his analysis and given his general leanings on things I imagine he agrees with Marx on a very great deal of things, just probably hasn't dropped his name because of poor connotations.
You’re correct but my guess is Gary doesn’t want to get cancelled.
Honestly I think Marxists need to sit this one out. Let the man, and movements like his, get us at least going in the right direction.
People can get behind a lot of Marxist policies so long as they aren’t explicitly labeled, in the same way that they can agree that accumulating wealth into the hands of a few people is fucked until you call that system by its name.
Capitalism, Marxism, Socialism etc are all scary, inscrutable or confusing to most people.
Maybe we need to just start describing things without defining them and we’ll see more positive change and realize that, actually, there are way more of us than we think. Even if they don’t know it themselves.
@@aluisious I don't know. According to him, he's rich, so he doesn't have to worry about that. Now if he has other ideas like becoming famous or powerful or influential, that could play into it, but, again, i have no idea. He says he's not anti-capitalist, and i believe him. To me, being anti-capitalist has to be a prerequisite to accomplishing anything lasting, because it indicates at least a basic understanding of the problems we face. I'm not interested in rearranging deck chairs on the titanic.
We have to get that weapon back. Thanks for your hard work Gary.
You are doing great Gary, appreciate all you are trying to do
I listened to his book on audible. It explains how banks actually work really well. I think he's brilliant. I also have no idea how we are all going to get out of the mess we are in. There is no political will to tax the rich, but what are we supposed to do, Give up?
Never give up
Is the name of the book The Trading Game?
Please keep your strength, and keep going to inform us 🙏🏾
2 parent household helps too, along with extended families like cousins, brothers sisters and grandparents
Gary should be a guest on Joe Rogan. He has a good perspective.
The terrible way we slow inflation is by making us all so poor we can't afford price rises, how about we say if you don't stop inflation we will tax all that money back. But taxation is our only defence against the growing wealthy class or they will run away with everything and we will be living in a Mumbai style situation. Ultra rich and ultra poor.
It’s not the only power but it defo one way
Thank you for telling the truth!
It's not JUST taxation: in practice WE can create a movement TOGETHER from the grass roots up that will change society for good.
The answer is not more taxation. But a different tax system.
Good argument
He should consider a career in politics. I believe his heart is in the right place 👍🇬🇧
❤ we love you Gary.
I came here from BBC. Gary has a bright mind and he is using it to help the world!
The problem is, when politicians say, tax the rich, they’re talking about people with more than $600 in the bank. They protect the truly rich and move the goal posts down to the middle class.
Which politicians?
The US also lost our Argument in the 80's with Reagan. His message is pretty parallel to the US.
And VOTING!
Over taxation in general of the average person is a large part of the problem, if no taxes were taken on 1st 30k earn each year
the way we hold our cards now, but taxation by anyone’s standards implies that they’re able to make ends meet and then someday they will all join sides and use public equity as utility
Thankyou for doing your videos gary, keep going and keep spreading the word 😇❤️🙏🏽💪🏾
I love the work you're doing, but can you please explain how we could tax the rich? Any laws that are put in place - they can get around, and they're rich and powerful enough to get around pretty much all of it. Please explain, in your terms, how it could be possible
Biggest and best power is unionisation and witholding labour.
Raising the tax thresholds and making a better environment for small businesses sounds like a good idea then.
Vote Reform 🗳
❤ Gary ❤
What is the strategy for levying a tax on the excessively wealthy?
Creating a common law system to hold the "governments" accountable to the people makes the most sense. However, that would be seen as war...
The other alternative is a world wide strike on labor and consumption for an extended period of time. That would require community sharing and support from already limited private resources.
Another commenter stated confiscate the wealth that has been amassed in immoral ways. That sounds like a good strategy as well but then back to the question of how to actually carry it out...
I think if we coordinated to do debt-payment strikes we would realize how much power we have
Diana cooper would make a great universal media interview
With Dianas knowledge of the world 🌍 council guiding us to the new five dimensional age come 2032
Lots of universal love everyone Colin 💖💖💖💖💖💖💖💖
Gary love Colin
The only way to protect yourself is to buy an asset they can’t print more of….
You're been tought not to say No, No More, enough is enough. You have fuck all but still don't wanna risk the little you've been allowed to own today
Nothing in society is priced according to how rich you are. Cars, houses, food, anything. Except the consumption of public services, which is charged at wildly high prices to rich people - why?
Best bloke
Thanks Gary!
My concern now is the globalised digital money system. How to pin it as UK taxable wealth?
Rutger Bregman point, now Gary's..., healthy middle class, healthy economy and country... It seems our government missed this crucial lesson from economics.
This is his best summary of it I’ve seen yet
!00% Gary. We’re with you.
Can you do a talk on how we lost the argument, I would be very interested. Thanks
And also what can be done about it.
They lost because reality wasn't on their side. How does power cuts, 18% inflation, constant strikes, uncollected garbage sound to you??
How?
'Trickle down Economics' had a better PR team than the reality of the existing functioning system.
A PR campaign told people 'you think you're doing well now, but trickle-down will give you *even more!* '
So they voted for it, coasted on the public infrastructure investments that had been made in previous years, with living standards and public services dropping so gradually that, by the time people noticed, there were other things available to blame - like immigrants.
It's rare that you'll find anyone willing to acknowledge that the time of best growth, public investment and size of the middle class coincided with an 80-90% corporate/personal tax rate for the very wealthy.
@@MyDisavow Trickle down is a myth created by a democrat social commentator.
Pushing the myth of 80/90% top tax rate = prosperity when all the places that did that had long economic stagnation like the great recession which lasted 23 years.
My 60 year old mum - who has always voted Conservative in every general election - has just voted Green 💚
I like the old system of very rich and very poor. My gardener and chef are costing me to much money!
Agree with you but trade unions are another power for ordinary working people. Force your boss to pay you more, give you better conditions, etc
You (now) have a power to EXIT the system. Bitcoin is the lifeboat.
Gary please save us all and start your own political party! I’m begging you 🙏
100% agree
The system is controled by those who control taxation.
That was achieved by Capitalism, not taxation.
Exactly 💯
are we even sure it is legal to tax UK assets or wealth itself? Wouldn't it break the international world order also the Breton woods agreement with US/NATO...etc?
How true is this?
Taxing the rich does not give ordinary man any power, it gives power to the government that taxes the rich, the ordinary man now has to deal with bloated overfunded government and rich people who still have a lot of money after tax.
What about not taxing rich so much but making almost zero tax for poor ones?
And pay for public services how?
@@uniteddreamer Personally I would tax the super rich, because they got rapid increase in wealth due to monetary politics, not because of enterpreuner skills. Free market is myth when there are subsidies and regulations.
Thanks for everything you're doing Gary
The power is also in spending. Gov can invest in people or waste it.
Preach 🙌
I don’t mind rich people who say they don’t want to help me. The rich people who really want to help me and won’t take no for an annswer are the scary ones.
Come on Gary, get into politics mate. You're a straight talker, and people like you.... Do it, do it
This IS politics - he said it himself last week.
@@colliedogjoy yes, but you know what I mean..... Run for it, represent people. I don't listen to every one, or at least, I catch up where I can.
@@jamesstilwell26 Fair comment - and I agree with you that Gary’s the man for the job - particularly because he doesn’t want it.
@jamesstilwell26 He's not a straight talker but regurgitating the same garbage/debunked economic trash that plagued the west throughout the 70's and Eastern Europe post WW2.
What happened in the 80s? Can someone give me some detail so I can read about the change that happened back then?
No one is going to tax the rich
Remove the income tax for living people. Instead, tax the banks, they are artificial "persons". Artificial persons are entities that do not neet to eat like a real man or woman or family does. Best way I think is to only tax interest income of nonliving entities like corporations and banks. Wages and Salaries of People must be free of levy even if they get interest income. Put the risk where it belongs, the entities making the bets on the collapse. Also, don't tax "living people" making bets they need to eat too... you must tax the entities including Artificial Intelligence. Only the income of living people should be free of levy and absolutely off limits. If you take away a living man's or living family's ability to accrue wealth, they have no incentive to work.
Billionaires aren't struggling to eat, and they're not struggling to corrupt politicians at every opportunity.
This seems to be kind of misleading in the 80s taxes were reduced but at the same time tax revenue went up, when taxes are generally higher rich people end up finding ways around them.
I have always believed that the rise of Thatcher and Reagan coinciding with Gorbachev ascending to the premiership of the USSR was a most unfortunate coincidence.
It’s actually to buy bitcoin
You mean to say we had Theater!
Preach 🙌👊
I guess i will use that weapon for the years to come, interesting.
It only takes one member [from the very bottom] of the top 5% to cry on QT
And we make them pay taxes with pitchforks?
The English Civil War was fought and won on:
"NO TAXATION
WITHOUT
REPRESENTATION!"
In today's world this battle cry needs to be turned on its head to:
"NO REPRESENTATION WITHOUT
TAXATION"!
That was the American Revolution.
Ha if you cared so much about representation, the donor class would have a 100% tax rate and the public would have 0% tax rate.
@@Bromley68 The American Revolution was a fight between Englishmen.
What's funny is the Billionaire John Caldwell on News night this week said, "Don't be talking about taxing the rich, coz we will just bugger off to Monaco"!
Spread the word
We need someone like Gary as PM lol if everyone paid there fair share what a lovely society we'd have, billions are being syphoned away from the uk
As long as the “rich” aren’t just the middle class average Joe.