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Wow, this is an impressive guy (poor kid 'made good' - best trader in the UK) and interview. https://invidious.snopyta.org/watch?v=ViY-zI3b5JQ or https://www.youtube.com/watch?v=ViY-zI3b5JQ "Gov'ts have many mechanisms for giving money to the rich. Govt needs a system to take it back from the rich". #fixInequity This dude drops some seriously rightous truth bombs.
not much point in giving someone something just to take it away again, is there
@Hyolobrika totally agree. Giving money to the rich in a crisis is just emergency trickle down economics. It's just emergency bollocks.
@Hyolobrika they gave covid 'stimulus payments' and it all went to the rich (the rentiers) in very quick order. Bailouts for big biz (e.g. banks, finance cos) in financial crises. All effectively removing wealth from the poor & middle class & gifting to the rich (who don't pay much tax). The UK gov't has no history of shifting wealth the other way. Only unions and non-gov't orgs have that, and mostly long ago.
@lightweight @Hyolobrika One thing that Gary Stevenson pointed out is that sometimes the stimulus is necessary, but you have to have a plan to get it back. Governments can get it back by letting inflation reduce the value of the debt, or they can get it back through increased taxation.
