Garys Economics Is a wealth tax actually workable?
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Aug 31, 2025 The podcast dives into the rising support for wealth taxes and their potential to reduce inequality. It tackles the political landscape and public discourse around this topic. Key hurdles in implementation are discussed, emphasizing the need for careful planning and legal frameworks. The conversation highlights the importance of expert-driven policies and the necessity for international cooperation, showcasing historical examples of successful collective action against wealth inequality.
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Wealth Taxing Is Harder Than It Looks
- Gary Stevenson warns that raising taxes on the rich is politically and practically difficult.
- He stresses rich people can influence media and threaten to leave, complicating implementation.
Abramovich Example Of Taxing Domestic Assets
- Gary cites the Abramovich case as an example of taxing domestic assets after a wealthy person leaves.
- He uses it to show governments can still capture wealth tied to the country.
Pay Experts To Design The Tax
- Gary urges governments to hire and fund expert tax teams and spend years designing robust policy.
- He says YouTubers shouldn't write tax law and that proper civil servants must lead detailed design work.