Episode 31: Gary Stevenson Is Wrong About Inequality (But Not for the Reason You Think)

Gary Stevenson has become one of Britain’s most influential voices on inequality, arguing that the rich are getting richer while everyone else falls behind—and that a 2% annual wealth tax is the solution.In this episode, I take Gary’s argument seriously and examine it from first principles.We explore:* Why house prices and asset values exploded after 2008.* How Quantitative Easing and government borrowing changed the financial system.* Why savers were punished while asset owners benefited.* Whether billionaires really take your money—or whether government takes far more throughout your lifetime.* A detailed worked example of a £100 million business under a 2% annual wealth tax.* Why many European countries abandoned wealth taxes.* What Britain can learn from countries such as Ireland, Estonia, Switzerland and Singapore.* And finally, my alternative vision for reducing inequality—through lower taxes, greater ownership and a smaller, more focused government.Whether you agree or disagree, this episode challenges one of the biggest economic debates of our time. Get full access to Taxed & Taken: Money, Power & Freedom from the State at patelankeet.substack.com/subscribe