Should The UK Have A Wealth Tax?: In a recent video, I look at why the idea of a wealth tax makes no sense, and could actually hurt the economy.
Channel 4 recently aired a documentary about the idea of a wealth tax for the UK, hosted by Gary Stevenson from Gary’s Economics.
I debated Gary for 6 hours on the wealth tax for the show. However, I beat him so soundly that they didn’t air any of it! Instead, they showed Gary talking to me about my training courses!
As they refused to show the debate, I decided to put my arguments into a video, so you can judge for yourself! You can watch the video on YouTube, or at the top of this blog post.
In this article, I will give you 5 reasons why a wealth tax is a terrible idea for the UK. By the end of this article, you will have the tools to counter Gary Stevenson’s insane talking points!
I want everyone to know why a wealth tax will hurt the poor, and the economy as a whole. That way, people can avoid being taken in by the likes of Gary’s Economics! That’s why I wrote this article. However, I need your help to get it to the right people!
Please post this article on social media, and tag 3 friends who could benefit from this information. Let’s put a stop to the wealth tax for good!
1. Should The UK Have A Wealth Tax?: Wealth Comes From Work!
Those promoting a wealth tax say we should ‘tax wealth not work’. However, I reject this framing entirely. Wealth comes from work! In the case it comes from inheritance, inheritance is already highly taxed. So a wealth tax will be a tax on work!
2. Should The UK Have A Wealth Tax?: The Best Case Scenario Isn’t Great!
But what would it actually achieve if everything went to plan? Gary wants a 2% annual wealth tax on people with a net worth of over £10 million. This would, if everything went exactly to plan, make the poor and working class just £32 a week better off each!
3. Should The UK Have A Wealth Tax?: But The Bureaucracy Will Take Their Cut!
£32 isn’t a lot, but even that number assumes everything goes exactly to Gary’s plan! Enforcement and investigations are likely to cost a lot, eating into that money.
Have you ever known the government to keep its promises? Once they have the money they can use it any way they wish, likely wastefully. Maybe you trust the current government, what about the next one? It is probable none of that money will end up in the hands of the poor!
4. Should The UK Have A Wealth Tax?: And The Rich Will Leave!
So most of the money will be eaten up by the bureaucracy, but it gets worse! Rich people will simply leave the UK, and sell their assets. This will mean that rather than bring in a small amount, the policy will actually cost the UK money!
This isn’t simply rhetoric either, 12 European countries tried a wealth tax, 9 of them ended up abolishing it! Wealth taxes don’t work.
5. Should The UK Have A Wealth Tax?: The Solution Is Wealth Creation, Not Wealth Redistribution!
Gary sees wealth as a zero-sum game. In Gary’s mind, if someone is wealthy, that means there is less for everyone else. This isn’t true! Wealth isn’t money itself, it is the goods and services you can buy with that money.
As business people create new things, and compete on price, everyone becomes better off. That is how living standards rise over time. We need to promote more wealth creation, rather than focusing on redistribution.
Should The UK Have A Wealth Tax?: Start Creating Wealth!
Should the UK have a wealth tax? Absolutely not! If you want to make a positive change, the way to do that is to create wealth. This makes life better for you, your family, and the nation as a whole. Take personal responsibility, rather than rely on the government to do something.
I can show you how to build wealth! Join me at my next introductory online training event!
We have different online trainings throughout the year, each teaching different things. Here is a sample of what you could learn on one of our online introductory webinars:
     Get immediate and actionable insights to accelerate your property investment journey.
     Begin to understand the strategies to use to reduce the barriers to getting started.
     Understand where property professionals source the best deals.
     Don't just do it once, repeat the process to build your property portfolio.
Property investing is not just for the rich! Learn the strategies that thousands of people have used to not only start investing, but become financially free! Tickets are free, so book your property training webinar now. If you are ready to take action, I hope to see you very soon!
Should The UK Have A Wealth Tax? 5 Reasons Gary Stevenson Is Insanely Wrong About Taxes!
Published: Friday, July 10, 2026
Should The UK Have A Wealth Tax?: In a recent video, I look at why the idea of a wealth tax makes no sense, and could actually hurt the economy.
Channel 4 recently aired a documentary about the idea of a wealth tax for the UK, hosted by Gary Stevenson from Gary’s Economics.
I debated Gary for 6 hours on the wealth tax for the show. However, I beat him so soundly that they didn’t air any of it! Instead, they showed Gary talking to me about my training courses!
As they refused to show the debate, I decided to put my arguments into a video, so you can judge for yourself! You can watch the video on YouTube, or at the top of this blog post.
In this article, I will give you 5 reasons why a wealth tax is a terrible idea for the UK. By the end of this article, you will have the tools to counter Gary Stevenson’s insane talking points!
I want everyone to know why a wealth tax will hurt the poor, and the economy as a whole. That way, people can avoid being taken in by the likes of Gary’s Economics! That’s why I wrote this article. However, I need your help to get it to the right people!
Please post this article on social media, and tag 3 friends who could benefit from this information. Let’s put a stop to the wealth tax for good!
1. Should The UK Have A Wealth Tax?: Wealth Comes From Work!
Those promoting a wealth tax say we should ‘tax wealth not work’. However, I reject this framing entirely. Wealth comes from work! In the case it comes from inheritance, inheritance is already highly taxed. So a wealth tax will be a tax on work!
2. Should The UK Have A Wealth Tax?: The Best Case Scenario Isn’t Great!
But what would it actually achieve if everything went to plan? Gary wants a 2% annual wealth tax on people with a net worth of over £10 million. This would, if everything went exactly to plan, make the poor and working class just £32 a week better off each!
3. Should The UK Have A Wealth Tax?: But The Bureaucracy Will Take Their Cut!
£32 isn’t a lot, but even that number assumes everything goes exactly to Gary’s plan! Enforcement and investigations are likely to cost a lot, eating into that money.
Have you ever known the government to keep its promises? Once they have the money they can use it any way they wish, likely wastefully. Maybe you trust the current government, what about the next one? It is probable none of that money will end up in the hands of the poor!
4. Should The UK Have A Wealth Tax?: And The Rich Will Leave!
So most of the money will be eaten up by the bureaucracy, but it gets worse! Rich people will simply leave the UK, and sell their assets. This will mean that rather than bring in a small amount, the policy will actually cost the UK money!
This isn’t simply rhetoric either, 12 European countries tried a wealth tax, 9 of them ended up abolishing it! Wealth taxes don’t work.
5. Should The UK Have A Wealth Tax?: The Solution Is Wealth Creation, Not Wealth Redistribution!
Gary sees wealth as a zero-sum game. In Gary’s mind, if someone is wealthy, that means there is less for everyone else. This isn’t true! Wealth isn’t money itself, it is the goods and services you can buy with that money.
As business people create new things, and compete on price, everyone becomes better off. That is how living standards rise over time. We need to promote more wealth creation, rather than focusing on redistribution.
Should The UK Have A Wealth Tax?: Start Creating Wealth!
Should the UK have a wealth tax? Absolutely not! If you want to make a positive change, the way to do that is to create wealth. This makes life better for you, your family, and the nation as a whole. Take personal responsibility, rather than rely on the government to do something.
I can show you how to build wealth! Join me at my next introductory online training event!
We have different online trainings throughout the year, each teaching different things. Here is a sample of what you could learn on one of our online introductory webinars:
The SECRETS to becoming a successful property investor​​​​​​​
     Get immediate and actionable insights to accelerate your property investment journey.
How to LEVERAGE other people's money to get started​​​​​​​
     Begin to understand the strategies to use to reduce the barriers to getting started.
How to FIND fantastic property opportunities
     Understand where property professionals source the best deals.
How to RECYCLE your money again and again
     Don't just do it once, repeat the process to build your property portfolio.
Property investing is not just for the rich! Learn the strategies that thousands of people have used to not only start investing, but become financially free! Tickets are free, so book your property training webinar now. If you are ready to take action, I hope to see you very soon!
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