Comments by "Mark Welch" (@markwelch3564) on "Wealth taxes won’t work" video.

 @johnburns4017 and this is a problem, because rent seeking is parasitic on productive work. Wonder why we have a productivity crisis right now? 🤔
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 @bramvanduijn8086 I think you might be underestimating the scale of the royal estates. They own a truly vast amount of stuff in this country!
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This doesn't reflect real world behaviour The biggest inhibitor on entrepreneurship is prohibitive risk, not lack of reward. We need to give people a stronger safety net (but not a luxurious one) At the moment, only people with generational wealth feel they can be adventurous. Everyone else has to play ultra-cautious as they know they could easily end up destitute if a high-stake idea goes wrong
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@andyinsuffolk but wealth absolutely is a barrier to other people gaining wealth If I want to start a shop, and someone with generational wealth does the same, they can outbid me on that property. Their wealth can (and often does) bid me out of opportunities to get a foot on the ladder
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@andyinsuffolk so your entire life advice is "be born rich"?
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@andyinsuffolk fiat currency only favours asset owners if you give new money to existing asset owners If you give new money to wage earners, either directly as a basic income, or indirectly by funding public services and infrastructure, fiat currency will benefit wage earners instead
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