Wealth Tax? Could Britain's Billionaires Pay for the Pandemic?

The video discusses the economic challenges faced post-pandemic, focusing on the budget deficit and the proposal of a wealth tax as a solution. It explains the concept of a wealth tax, its potential implementation, and the impact of different models. The video also covers criticisms and potential downsides, such as fairness and the effect on savings.

What economic issue is highlighted as a consequence of the pandemic?

• Increased employment rates

• Decrease in public spending

• Budget surplus

• Budget deficit

How does a wealth tax differ from income or sales taxes?

• It taxes economic activity

• It is a type of income tax

• It taxes the wealth someone has

• It is a form of sales tax

What is one challenge in implementing a wealth tax?

• It is simple to calculate

• It is easy to avoid

• It is only applicable to low-income individuals

• It is universally accepted

What is the estimated revenue from a 1% wealth tax on couples with over £1 million?

• £4 billion

• £38 billion

• £260 billion

• £80 billion

How much could a 10% wealth tax on the super-rich raise?

• £4 billion

• £80 billion

• £38 billion

• £260 billion

What is a potential downside of a wealth tax according to Tom Stevenson?

• It encourages savings

• It penalizes those with valuable assets but limited cash

• It is easy to implement

• It targets only the super-rich

What is a counterargument for implementing a wealth tax on exceptional wealth?

• It discourages hard work

• It is a burden on the state

• Exceptional wealth should be shared

• It is unfair to tax inherited wealth