Season 1 · Episode 403
Should the wealthy get away with less tax?
Should the wealthy get away with lower tax than workers. Shouldn’t capital gains and income be taxed at the same rate. The answer isn’t as straight forward as you might think.
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
May 15, 202440m 43s
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Show Notes
Should we tax wealth more? The UK’s Shadow Chancellor Rachel Reevs wouldn’t be drawn o the question at an FT forum recently. She said the UK is already a high taxing country. But around the world the wealthy are getting wealthier. Is that a bad thing? Some would say that if they are making money creating growth for the economy, then why would you want to stop them. Jeff Bezos, for example, makes a small fraction of the wealth of the economic benefit he has created for broader society. But does it make sense that income from wealth – primarily capital gains – is taxed less than I come from work? No, says Steve Keen. It should be the other way round. Listen in for a discussion about taxing wealth, that’s a little more nuanced than just saying tax the rich.
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