Comments by "Andrew Sainsbury" (@andyinsuffolk) on "Wealth taxes won’t work" video.

Free market capitalism requires concentrated wealth for investment. Real wealthy people don't have gold or currency stacked up in their basements. If we take wealth from someone and then spend it to boost 'equality' there is a high chance that everybody suffers from the diversion of resources from investment that they would have made.
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Making wealth is not immoral. Wealth is an unlimited resource - for all practical purposes - the fact that one person has vast wealth is no barrier to the next person creating the same. Undermining property rights has been bad for prosperity throughout history and rulers wasting resources is the norm - that really is immoral.
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@markwelch3564 - In that case the shop vendor would disagree that wealth disparity has been a barrier to wealth acrual - they would be thanking god that somebody has some generational wealth to spaff around. Your freedom to do as you please with other people's property is tyranny.
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@Vroomfondle1066 - different subject -but; wealth acrues to assets rather than labour because politicians insist on sovereign fiat currency for all, with built-in inflation. With no inflation assets do not appreciate in currency and labour/cash does not depreciate relatively. But ALL politicians love mickey mouse money which furthers their own agenda - so when you vote for established parties you are voting for Wealth preference. In a truly free society we need rent seekers so that consumers can choose between as many options as possible.
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@markwelch3564 - The assets will appreciate in fiat currency terms and will then attract greater rent/interest/dividends in fiat currency values. It is irrelevent where the new money goes initially as it has already devalued itself on creation. The effect of fiat currency is to enslave those who have to use it - the less well off cash users. Fiat currency is mass legalised corruption for the benefit of the political class - so they are free to act without balancing budgets - and the poor pay for it obviously. With Real money your cash would appreciate at the same rate as assets and wealth acruing wealth without effort would be history.
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@markwelch3564 - [Thought I had already replied] New fiat money will inflate assets in fiat currency terms increasing the rent/interest/dividends they produce in fiat currency values. It is irrelevent who the new money goes to initially as its creation has already devalued cash holding. Fiat currency impoverishes the poor and transfers new wealth to asset holders; its sole purpose is to free politicians especially from balancing budgets. Mass institutionalised corruption.
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@Vroomfondle1066 - you are starting from the premise that some level of concentrated wealth is damaging to society or the poor - where's the evidence? - how do you determine the ' really bad' level? This is all ideological clap-trap presented as virtuous punishment of the 'guilty'. I am confident that without equality ideology the whole of the UK would now be substantially more prosperous than it is - why is my guesswork wrong?
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@Vroomfondle1066 - Yes that makes sense - undermine the people with the greatest wealth accumulation record and divert their efforts to consumption by the worst. This will slow the pace of economic prosperity for all - as progressive ideology has already - and will probably reverse it. With determination we can be back in the middle-ages in no time at all - but at least we'll be equal !!
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Much common sense. Except that taxation is a means to fund community expense; equality is idealogy. Equality before the state is the only equality baked-in to democracy and politicians or even voters deciding to confiscate specific people's stuff with discriminatory taxes is tyranny - we might as well have targeted taxes on 'Jews' or 'Londoners'. Progressive tax bands are also arbitary discrimination and entirely superfluous in a welfare state -- so it's a bit odd advocating them in a common-sense case - flat taxes are all we need. Although accountants will be in far less demand if everything is simplified!
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@bramvanduijn8086 - Business taxes are anti-democratic and inefficient; they make the tax code ludicrously complex because they are based on ideology. Politicians skim profits from business so they can claim voters are getting a free ride - but if the profits are left in the business they provide more jobs, wages and dividends to those tax-paying voters who are the only democratic source of (income) taxation revenue anyway. Any income tax should be as simple as possible - as well as broad and low. It is complex taxation that creates loop-holes. Simple taxation would massively increase tax revenue as everyone stopped worrying about the complexity of taxes and just started and expanded their enterprises. Corporate Tax Accountancy would disappear.
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