Taxing the multimillionaires

It’s time to tax the wealthy more – and this section explains why

In this series of Youtube videos I explain why multimillionaires have always been a problem in any society, and that it’s getting worse in the UK.

Governments around the world have had to create vast quantities of money to pay for the covid crisis, but the consequence is massively increased inequality, and inequality matters. Partly that is because of its psychological impact. Feeling left behind is deeply damaging. Social cohesion is harmed. As worrying are the economic dimensions.

Increasing wealth leads to overvalued housing, rising stock markets, and (perversely) increasing debt as those left behind try to achieve basic things, like owning a home to live in and make ends meet. These stresses also create instability in society. When they spill over into most people’s cost of living by, for example, fuelling rent increases, hardship results. The increasing wealth inequality of the UK is in that case a cause of concern for everyone.

In these videos I explore these issues and explain why we need to tax multi-millionaires more.

Taxing the multi-millionaires – why we need to do it

Why multi-millionaires pay too little in tax

Can we tax multi-millionaires?

Taxing the multi-millionaires – creating higher rates of income tax

Taxing the multi-millionaires – getting national insurance right

Taxing multi-millionaires – an investment income surcharge

Taxing multi-millionaires – equalising capital gains tax and income tax rates

Taxing the multi-millionaires – Stopping companies being used to reduce the taxes paid by the wealthy

There is more on this here from my series on Tax After Coronavirus (TACs):