Ways to Change the World with Krishnan Guru-Murthy Gary Stevenson on taxing the rich and why you're getting poorer
8 snips
Mar 6, 2025 
Gary Stevenson, a former top trader and creator of the YouTube channel 'Gary’s Economics,' delves into wealth inequality and its real-world impact. He explains how the rich accumulate wealth through passive income while the middle class struggles with debt. Stevenson critiques tax policies that favor the wealthy and emphasizes the need for wealth taxes to combat economic disparity. He urges listeners to educate themselves and advocate for change, warning that without action, inequality will continue to deepen.
AI Snips
Chapters
Transcript
Episode notes
Wealth Inequality as a Black Hole
- The rich get richer through passive income from assets, outpacing economic growth.
- This creates a black hole effect, drawing wealth from the middle class and government.
COVID's Impact on Inequality
- Gary Stevenson predicted the COVID lockdowns would increase inequality by transferring wealth to the rich.
- Government aid replaced lost wages, which ultimately benefited those who would have received that spending.
Taxing the Rich to Redistribute Wealth
- Taxing the rich forces them to sell assets, lowering prices and making them accessible to working people.
- This addresses the core issue of wealth concentration and asset inflation.