Is a wealth tax actually workable?

I made millions of pounds betting on economic destruction. Here's how I did it. How you could do it too. But also why it doesn't matter if your aim is to change anything politically.(00:00) Intro(03:14) Trading is economic forecasting(09:30) Being right when others are wrong(15:45) Identify one thing people are wrong about(17:15) Why I love trading(19:03) What good traders do(21:41) I don’t care about your opinion(23:09) Counter-trend trading(25:17) The downsides of trading(28:28) You can’t change things as a trader(30:35) Trading sucks up all the talent(31:58) Is trading economic analysis?(33:30) The worst economists(36:17) Trading is meritocratic(40:00) Why this matters for politics(42:52) Politicians won’t listen to me(44:05) What can we do?(46:40) What I am hopeful about

In times of crisis people are desperate for stories to explain why their lives are getting worse. This is why storytelling is the most important – but most ignored – aspect of politics right now. The far right offer a simple story, repeated over and over: it's the immigrants. The Trumps and Farages of the world are surging on the back of this simple, effective storytelling. What can liberals and the left learn from this? Can we come up with a better story?Chapters(00:00) Intro(03:02) Who decides what is salient or not?(08:29) The importance of storytelling(10:20) People need stories in times of crisis(14:55) The best storytellers take power(17:35) Citizen journalists on social media are powerful(22:29) Tell simple messages(23:22) What our story needs to be(25:22) WHY the far right is winning

We're winning the wealth tax argument in the media: more and more people support the idea. But what would a wealth tax actually look like and would do we implement it? Is it even workable?

The economy is made up of real resources, and the people who produce and own them. Money is different. Money is supposed to represent these real things, but it often fails to. Focusing too much on money – and interest rates and monetary policy – blinds us to how the economy actually works. Gary explains why this is so important if we want to change anything.–––––––––––Support us: we're making progress in our campaign to convince MPs and the public to tax wealth not work. Gary's been meeting MPs, Lords, political influencers, broadcasters and heads of think tanks every week – and momentum is growing behind wealth taxes as we head towards the autumn Budget. We need your help to keep doing this work. Support us on Patreon and you'll also get exclusive access to live Q&As with Gary and early access to content. All donations go to our not-for-profit company. Thanks:https://patreon.com/garyseconomics–––––––––––Chapters(00:00) Intro(01:47) The obsession with interest rates(03:56) How monetary policy failed in 2008(06:05) Know your medieval history(06:55) People confuse money for real resources(07:24) Money printing during COVID(08:20) Why don't we just make more money?(10:21) You need more real resources(11:27) Redistribution of resources(12:46) Money is different for the individual and the state(13:24) Resources are rapidly flowing to the rich–––––––––––Further resources to understand money:'What is money?' https://www.youtube.com/watch?v=_gcNMu40jqs 'Burning money' https://www.youtube.com/watch?v=lYjKycq0CYI'The devaluation of money' https://www.youtube.com/watch?v=So484-4VbxI

Worsening mental health outcomes are often spoken about as if they are the fault of the individual, but is insecure mental health a natural outcome of an insecure economy?And does the feedback work both ways - insecure economies cause people to be scared, easily manipulated, and individualistic, which prevents ordinary people from uniting and fighting back as a class?Also a little on my own historical struggles with the economy and mental health, both in the past and now."In a mad world, only the mad are sane" ~ Akira KurosawaTake care of yourselves and each otherxx(00:00) Introduction (03:31) Mental health is affected by the economy (04:55) Me on Question Time (06:15) Mental health is a symptom of something bigger(09:50) Deteriorating mental health makes political action hard (16:00) More and more people know collapse is coming(20:13) Hard work no longer pays(22:24) Personal struggles(25:09) What can we do?(30:17) Why it's so urgent

The rich will take everything unless we start taxing them more. A wealth tax is the best way to do this. But we need to win over the public, and dispell some of the common pushbacks. Here's how to do it.(00:00) Intro(00:48) Massive oppurtunity(02:29) How to explain my message to your friends and family(02:43) Point 1: Don't be a dick(04:00) People are scared(08:06) Point 2: Understanding and education (16:35) Point 3: How to deal with common pushbacks(19:20) The Laffer Curve(22:43) "It's not fair to tax rich people"(24:20) "You secretly want to tax me more"(25:45) "Don't give money to the government, they'll waste it"(27:40) The core message

The UK government will be forced to raise taxes in October to avoid financial instability. Who they choose to tax at this next Budget will beat a path for other Western governments facing the same problems. Here's what they're planning – and why it could be the beginning of the end for the middle class.Other episodes mentioned by Gary: 'The Squeeze out' AKA Why Labour is crushing your living standards https://open.spotify.com/episode/2yO2SJstjBX2lpW7Jn0AO6?si=b84234841c8b42ca What's in this episode:(00:00) Intro(00:47) Why this year's UK Budget matters(02:10) What they will announce(02:50) Governments going bankrupt(08:25) Do they have other options? (10:48) Tax the rich or tax the middle class(11:15) Rich vs middle class vs working class(12:29) Do not trust the rich(13:13) My message to middle class people(15:04) What I mean by "tax the rich"(16:09) The rich are WINNING

Alt right political movements have proven they take power using social media. Gary walks us through how we can use their rulebook to get what we want in our countries.Chapters:(00:00) Introduction(02:26) Social media's power in politics(05:05) The WWF model(07:01) Economic inequality(08:08) Build a platform(17:49) The power of social content creation(26:12) Use the traditional media(30:36) You have to focus your message(35:00) Be disciplined(37:13) Challenges from elite institutions(41:27) Take a strategic approach(45:43) Balancing advocacy and content creation(48:20) What you can do – and what I'm planning

Why are house prices in the UK so high? Here's how we can make housing affordable for ordinary people again.What I discuss in this episode:(00:00) Intro(01:26) Why every city in the world has a housing crisis(04:00) Understand that housing is an asset like shares, bonds, commodities(07:40) Economists miss why assets are going up11:55 How rich people push up asset prices (and house prices)(14:15) Wages do not control house prices(16:33) Should we just build more housing?(18:33) Inequality is reshaping our cities and creating slums(21:27) Why we can't get growth(24:13) The problem is inequality(25:09) Cutting red tape and Grenfell Tower(26:06) The rich always decide – we need to reduce their wealth

The UK's political and economic situation is grim, caused by growing wealth inequality and mass impoverishment. Gary has one message for the Labour government: a wealth tax could start to reverse the situation – and prevent the collapse of our society. He also has message for anyone tempted to vote for Reform (spoiler: stopping immigration won't fix the problem).In this first episode after a three month break, Gary brings us up to speed on everything that's happened in UK economy – and what we need to achieve in the coming months.Chapters:(00:00) intro(00:40) Wealth taxes are coming(02:41) Economic and political situation(08:12) The death of centrism and far-right doom loop(12:06) My message to the Labour government(15:12) We can win(17:32) It's an international issue(18:50) Gary talks to Reform voters(20:43) Working class vs middle class(22:16) If you are rich listen to this(24:05) What's next on the channel?