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@dmitribovski1292

Жыл бұрын

Why don't you get someone one that knows what they are on about.

@FoxyUK

Жыл бұрын

@@dmitribovski1292 mad?

@marmedli9124

Жыл бұрын

The WEF are the main players behind this, unfortunately Labour are also full of WEF puppets, we are all going to own nothing and eat the bugs.

@dmitribovski1292

Жыл бұрын

@@marmedli9124 WEF need to be made a proscribed organisation. Well you can eat bugs not me I will stick to eating meat they are filling hotels with it.

@Albanach-je1nk

Жыл бұрын

This guy is putting into words what I have thought. I think this would on every channel in the western world.and should be sent to the mobiles of the wealthy at lest once a week.

Gary is on such a roll recently. I wish there was a chance to see him on even bigger platforms so he can reach more people.

@Jay_Johnson

Жыл бұрын

I saw him on a financial times video talking about wealth taxes

@Patrick-jj5nh

Жыл бұрын

@@Jay_Johnson thx watched it, worth checking out.

@shiftystylin

Жыл бұрын

That'd be amazing. So in support of Gary.

@matthewscullion7304

Жыл бұрын

His youtube subscribers have double in the last week

@tyrannicalsaint

Жыл бұрын

His recent interview in Novaro media was awesome.

Gary's line on wealth inequality as economic "cancer" was very powerful

It takes someone from a working-class background that became wealthy through these mechanics to truly understand the issues faced by our society. Unfortunately, most Tories inherit wealth and falsely believe that they have earned it. Great vid.

@ascgazz7347

Жыл бұрын

False. And trading is hardly a career for the many.

@danielwebb8402

Жыл бұрын

Most of 44% of the country inherited wealth?

@40yearoldvirgil15

Жыл бұрын

@@danielwebb8402 yes from the youth of today through inflated pensions they didn't pay enough into now the young have to pay 👍

@danielwebb8402

Жыл бұрын

@@40yearoldvirgil15 So people who paid more into taxes for others state pension when they were a 40 year old accountant than they'll claim in state pension. They don't meet your definition of inherited wealth. But the low paid manual worker who Labour traditionally represent has inherited wealth because he likely didn't pay in as much over his lifetime as he'll take out. That's your definition of inherited wealth? So someone who worked for 3 years and paid taxes. Then became disabled. That's inherited wealth as paid for by other taxpayers? Work for 15 years, unemployed for 6 months. Those benefits payments for 6 months is fair as paid in more than that to the notional unemployment benefit pot. But work for 15 years, unemployed for 5 = inherited wealth. Work for 5 years, unemployed for 6 months = inherited wealth. Nearly everyone on housing benefits has been a life net tax and benefits recipient. So inherited wealth? Or you mean "Oh no. Only people that don't vote the same way as me"?

@PeachesandCream225

Жыл бұрын

@@ascgazz7347 what’s false?

Gary nailed the core dilemma when dealing with any problem - if it doesn't affect you, or there's no benefit to you in solving it, you will have no desire to tackle the problem.

Very plain and well explained. There's no point waiting for Labour to address this issue until the population properly understand what is going on.

Austerity never works, trickle down never works but around and around we go

@abcabc9893

Жыл бұрын

There is no such thing as an economic system trickle down, it's a myth which just goes to perpetuate further public ignorance. See Thomas Sowell for this.

@MegaMegalomaniac

Жыл бұрын

So true. It seems the only thing e have learned from the past is that we don't learn from the past.

@nicholasarrow2443

3 ай бұрын

Definitely works for some!

We don’t need austerity, we need more economic stimulus!

@DiegoLinde

Жыл бұрын

"economic stimulus" implies you're still operating within the current paradigm of a "growth economy" Our economy is completely decoupled from its real cost which is the Earth's resources. We need a steady-state economy where we align with what mother nature can actually provide sustainably. Look up Doug Tompkins for insight into the New Economy. Merely "stimulus" so we can all get more stuff isn't it, either.

"The purpose of government is to protect the rich from the poor". - Adam Smith - The Wealth of Nations.

@helenp7

Жыл бұрын

So sorry to sound so ignorant, but did Adam Smith actually argue this?

@sjbechet1111

Жыл бұрын

@@helenp7 The way I read it he didn't present it as an argument, more of a factual observation on the way government operates. There are lots of examples in the WON along the same lines.

@katiemarshall4340

Жыл бұрын

S J Bechet that's one interpretation and here's another one that has correlation. The purpose of government is to protect investment ( either public or private which SHE got wrong).

Gary for chancellor or business secretary!! Either way the government need to talk to people like this. Great interview 👍🏼

Gary's economic's page is awesome, I watch it every Sunday and I have learnt loads. After watching, I have started being more sensible with my money.

Gary as chancellor and Mick lynch as PM, what a combo that would be

@Schizopantheist

Жыл бұрын

If this were a sensible country that might actually end up happening. But this country feels like a sinking ship right now, only the crew have life jackets, they're stealing the lifeboats and half the passengers are delusional.

@fab11ism

Жыл бұрын

Can you imagine the reaction of the media if that had any chance of happening. Every single action and word of theirs would be twisted and contorted so the public would think their election would be a disaster. Remember poor Jeremy Corbyn. They crucified him, terrified he would change the status quo. The idea that voting can change things is slipping away, the next election may be the last if Labour don't do something radical. But is Sir Keir likely to do something radical? Who knows, he might surprise us all.

@isabelrollings2439

Жыл бұрын

Ah, the straight talking would be wonderful to hear. Plus, we would have a future. 😀

Thanks Owen for giving Gary a platform on your channel. The guys knowledge is immense, very underrated.

@Pixeleen77

Жыл бұрын

Totally agree! So glad. Thank you Owen. You always have the best guests, who are intelligently informed. Keep keeping us sane please!!!👍🏾

'I've got nothing against old ladies, my nan was an old lady.' 😂😂😂

This guy is fantastic. I really hope he can get a bigger and bigger audience and educate people on economics

@edwardburroughs1489

Жыл бұрын

He'd surely need to educate himself first?

@MM-zc9uq

Жыл бұрын

He’s educated. Degree from LSE and Masters from Oxford

@xGribbles

Жыл бұрын

@@edwardburroughs1489 I’m sure Edward from KZread is an accomplished economist.

@edwardburroughs1489

Жыл бұрын

@@xGribbles I might be, but I'm assuredly as 'accomplished' as the other random guy on youtube that you're listening to.

@xGribbles

Жыл бұрын

@@edwardburroughs1489 You’re a JP fan, a man completely devoid from reality. List your economic credentials for us all.

Refreshing to hear two young people talking about the future of this country with excellent analysis and a way forward, which is beyond hope and tinkering.

I learned recently that the nonsense behind austerity was known a over hundred years ago when it was called horse and sparrow economics. The idea being, you feed the horse the very best fruit available and the sparrow has to dig through what comes out the other side.

Hearing Gary say what I have for the past few years is refreshing. One essential is to get rid of the FPTP voting system. Almost any other would be better but my choice would be the Single Transferable Vote. It brings in MPs from the center, more independents, weakens the power of Party over MP and strengthens the link to voters. We need MPs who debate, listen and will compromise.

@andreaslind6338

Жыл бұрын

Forgive me for being cynical but that is precisely why the current politicians do not like it.

@jorriffhdhtrsegg

Жыл бұрын

@@andreaslind6338 as with properly fixing the economy. For why does locking up our assets to an elite class get protected. Locked away, not reinvested. The transition of power is a difficult one, the major question. At closest there is maybe Corbyn due to large memberships of a party voting but what other solutions ? When the solution is exactly what those who have power to decide do not want, from media, capitalists and politicians. Media accountability is another. Beyond electoral system also accountability to force byelections and general elections by public (and/or enshrine something in law for changes of leader, party, suspensions etc.) -there are quite a few toey MPs in some scandal, perhaps suspended or even just don't engage with constituents who don't get any consequence for five whole years for example

@andreaslind6338

Жыл бұрын

@@jorriffhdhtrsegg totaly agree, as do most people under 40. You know, KZread has censored your comment, I can see it In notifications but it does not appear in the general thread. There will be change comming.

I absolutely love every video you do with Gary. He's very insightful and very easy to understand. I wish I could just call on him every time I'm in an argument about economics.

Possibly Gary's best interview so far, quick and succinct.

OMG! My two favourite UK commentators together!

Stashing wealth in property is the heart of the problem. I went to my home village in Wales and only 4 out of 30 house have permanent residents. All the rest are second homes and only 2 or 3 holiday lets. How about a £10,000 annual tax on second homes that are not permanently occupied? Just imagine the income from those empty blocks of investment flats in London.

Great interview. These truths laid clear here should lead to changes that strengthen all national economies. Making these truths clear to an American electorate is no small task.

Owen wrote an article in the Guardian 5 days after this interview titled "Rishi Sunak will leave the economy in a hole - Labour will have to think big to dig it out" and in that article he references and links The Wealth Tax Commission report that says that there should be a 1% for 5 year wealth tax on couples who have more than 1 million pounds in assets. Now I'm a person who would fall into that bracket because now at the end of my working life my wife and I have lived frugally and accumulated pension savings and a single home that would take us over that threshold. But we paid income tax on all the money we earned and significant interest on all the mortgage before they fell to ridiculously low rates. We have inherited nothing. Gary is clearly saying at 9:40 that people in my situation are not the issue. So why then is Owen and the Wealth Tax Commission pitching this wealth tax at average middle class people?

Gary Stevenson is the only economic commentator I've seen in the UK, either on media or in the papers (including the FT) that actually gets the problem and is speaking up about it.

Gary Stevenson speaks so very much sense!

Great to listen to a conversation from a younger generation for a change. I'm in arms with Gary.

This needs to be shared widely. Solid common sense approach to economics- the likes of Rishi Sunak will never understand,nor care about the starving masses. Well done Owen ,and thanks for sharing this. 👌

Thanks Owen, in such support of you and Gary.

How he spoke proves he really knows his subject, great guest!

The point about Labour not doing enough is spot on.

Been following Gary for a while now, he’s the only Brit I know to explain how money works in an understandable fashion, I love him!

Fabulous interview.

Interesting.....very interesting, I've never heard this before.

I must admit i do like what Gary always has to say. He sure does know what he is talking about. Respect for what he has achieved in life.

@1inchPunchBowl

Жыл бұрын

What betting against the rest of us to make his fortune? Okay.

Need more voices like Gary in this dark age.

Gary is such a gem

The "rich people would leave" argument is also easily refuted by the fact that Switzerland, a country often painted as a tax heaven, has a wealth tax and not only do the wealthy not leave, many super wealthy people choose to live there.

I think Gary hit a key point here. It was about confidence. Its not down to the 45p tax rate or change to NI. The markets didn't trust the budget because it never went theough the OBR for verification. In the rush to do something they were punished for taking a bigger risk. My tin foil hat still tells me this was deliberate.

@dibqip

Жыл бұрын

If it could be incompetence or malice it’s probably incompetence

@J1122

Жыл бұрын

@@dibqip a lot of rich people gained think tanks etc

Important info. Thanks Owen and Gary. ❤️🖤🚩🏴

Thanks both of you.

Absolutely love listening to Gary. Educated guy who understands the system. Make him chancelor.

@craigfowler7098

Жыл бұрын

Well anyone it seems can be Chancellor or PM at the moment it seems. Lol Your idea is perhaps not as daft as it seems.

@user-vk9kx5nh3j

Жыл бұрын

@@craigfowler7098 The idea doesn't seem daft...

Not a massive fan of Owen but this has to be one of the most compelling videos he has ever made...Gary has lived two lives and has a great perspective...the arguments he makes will not further his own wealth and have a feeling of honesty

"Anthropomorphising". Love that word! 👍🏾👏🏾

Thank you for educating me, I actually understood the points you made. Not easy to get my head around economics, so appreciated.

'destroys', 'demolishes', 'exposes'...how exciting....and a tad teanage-ish! Can we have more grown up titles please? I feel a little embarrassed sharing those! Cheers 😘

Great segment, hopefully voters will listen

Loved this. The most important point here which Gary stated and I see some people in the comments misunderstanding… is that this is impactful for those with assets in the 15/20million+. Given the rate of inflation at the minute, raising taxes on the upper middle class (earning 100k, those with 1 or 2 or 3 rental properties) would be a terrible mistake as the vast majority of those in the upper middle class are ordinary people earning via jobs rather than living off investment income off British assets. Progressive tax reform is needed to increase the number of tax brackets and decrease the rate of tax for the middle class / increase rate of tax for the rich

I've learned about Gary through this video. He is really great in explaining these issues.

It's a country run by Tories for Greed and not need. In a nutshell.

Loved this interview, btw That crack about having nothing against old ladies had me waking up the house laughing..

Spot-on. Thank you, speak out more, more, more . .

Gary Stevenson is a very important voice of sanity and wisdom. He is the right person to listen to

Love these guys

What have we achieved with 12 years of austerity?

@giani1680

Жыл бұрын

@@angh18 that increase in an insult. The tories must be wiped out at GE

I've already watched a vid of him on Novara Media with Aaron. Great guy 👍 Greetings from France 🇨🇵

Wealth inequality has to be addressed,people getting rich off the back of other people's misery,the government that has the courage to do it is not in office or waiting in the wings either

Another great headset. Rapid-fire analysis, at times challenging to follow.

I did not learn a lot from this , but only because he repeated what I have been saying for years , and in that sense it was very reassuring!

Always have time for Gary.

Thank you owen and gary.😊

Gary is a legit national treasure

Well done, Owen!

Millionaires are the new middle class

I've heard some bangers from Gary but, 'My nan was an old lady'. That's gold. 🤣

Owen, thank you for interviewing him. I think he's very important. Please get him more airtime. There's the whole market and then there's the bond market which is just a subsection that lends to the government. If you cut government income by cutting taxes then it makes the debt look more risky. The bond market would respond positively to tax increases on the rich. Probably you know this and you're just putting the question forward as a regular person who might not know this difference and you want him to explain it?

Love seeing Gary out here talking to more folks. Best economics communicator I’ve seen.

We really need to see Gary on mainstream media. He can counter the Economic rubbish that is being peddled on a daily basis. He has opened my eyes to how the mega rich are making the rest of us poorer. We ALL need to help to spread the message of inequality by design. We don't have to accept this anymore. We need to make our voices be heard. E-mail your local MP, and demand that the rich be taxed in the way Gary describes.

The Tories have 1 idea, Increase inequality. Its either tax cuts for the wealthy or spending cuts for the poor. That is the same thing at the end of the day increase the inequality. After 12 years (plus the 1980's) the effects of that are clear to everyone except apparently the people in charge, or maybe they know it too but they personally benefit from it so will keep doing it no matter who it hurts. The glaringly obvious thing to do is to reverse this trend. This can be done with tax and spend policy that puts the burdern on those most able to pay (multi millionaires and above) and put it in to services that help the country. or it will happen by much less desirable mechanisms, Gary put that point very bluntly as I was typing this.

Seems like a decent man who hasn't lost his soul to gain wealth

Wiil do that now Owen. Already on yours. Well done lads and thanks.

great listen, will follow both

Virtually every economics expert I see, who isn't employed by an opaque Tufton Street think tank, says the same. Yet precisely zero of the big three political parties are brave enough to prescribe the medicine this sick country so dearly needs.

@antonymossop3135

Жыл бұрын

Exactly - people are being lied to, and have been for some time. The importance of inequality as a governing factor (Gini coefficient, power law, etc...) has been known for decades by bankers, traders and economics modelers. But I don't think it's entirely a lack of bravery by politicians that's the issue here, I think collusion plays a part too...

5:00-6:34 I have been saying this for years and getting called all the names under the sun. IMO Gary hit the nail square on the head. As comedien Kevin Bridges said "it's not poor people spending, its rich people saving."

When Gary speaks about how a Labour govt will fail us. It infuriates me to the verge of tears how he is speaking pure common sense. And still. Politicians won’t pay heed. Can we skip straight to anarchy?

Bloody awesome! Actual sense, thanks.

Love Gary.

This guy is a class act.

Get him in as chancellor.

At last! I was trying to get you guys in a room! 😀

Very informative stuff

Great guest.!

...the Rich invest in Politicians...

On the case Owen but u can do sooo much more to help by getting Gary onto the Jeremy Vie show with you! 👍😉🤞

Gary is great

How many times Gary has told his back story 😂😂

@leonodonoghueburke4276

Жыл бұрын

Definitely has the notes memorised by now lol, if I include this i've seen it at least 3 times

Very well explained.

Love Gary, he talks a lot of sense...

This guy is quality.

Gary Stevenson should be given the chancellors job, he'd rectify inequality so quickly!

Gary made it so easily understood, but no one is listening 😢

Read "Austerity, the history of a bad idea"- Mark Blyth, and the yet the Tories still pushed ahead with it and continue to do so.

I didn’t know he has a KZread! 💜🥳🎉 That’s awesome!

LOL - 'I have nothing against old ladies; my Nan was an old lady.'. Can this guy get any better?!

excelleny guys. How can we do what you suggest and change things. Like you rightly said, every politicians is only bothered about votes and themselves. Tragic

Thanks

No big mystery. Very well put from gary. Straight forward, no nonsense.

I want to see the counter to the argument "if we tax the rich more they will leave the country" and any evidence to the contrary. Vids on this subject would educate people on how to counter the Tory arguments EDIT: Some explanation was in the vid, hadn't got that far into it when i posted

tax is a mechanism to release wealth into the economy. hoarded wealth does absolutely nothing

I would love to see Gary on the major channels challenging the economic commentators and politicians. No disrespect Owen! But it would be great to see the economic and political orthodoxy challenged so that the majority of people in this country can find their voice to consistently demand their stake in society to be returned. We have lacked the clarity and frankly expertise that Gary is presenting to have a cohesive argument. We need to keep demanding a wealth tax or some form of wealth redistribution.