@DanielPriestley@garyseconomics Daniel you are a saint, a measured, well-informed man who showed up a puerile poorly informed teenager. You even managed to polish the Gary turd and compliment his skills in 🥁…being an entrepreneur. Gary is an egotistical charlatan who makes no sense very loudly.
I asked Oxford educated economist @garyseconomics how he would fix wealth inequality.
Gary says a 1% tax on people who have more than £10M net worth will fix our issues.
In the UK there are about 30,000 people who have £10M or more. Let's say each of them has an average net worth of £25M and would have to pay £150K more in taxes per year than they already do (1% of the £15M above £10M).
Let's also say that none of them leave the UK as a result of wealth taxes (which historically cause a wealth exodus).
If all goes to his plan we would collect £4.5B in new taxes.
The UK Government spends over £23Billion per week. Gary's plan would cover 36 hours of government spending ... while making the UK one of the most anti-wealth places on earth.
It wouldn't change the £10B+ per month of additional debt we are running up
Gary says he's a master at mathematics. He has a degree from LSE and Oxford. I have a no qualifications other than a drivers license and I can see this plan won't work.