Are our millionaires taxed enough?

Tax the rich! This is a slogan heard often in political discourse. However, there is much debate about whether increasing taxation on society’s wealthiest is firstly, fair, and secondly, conducive to reducing economic equality.

Moderated by IEA Head of Political Economy, Kristian Niemietz, Mark Littlewood, IEA Director General, debates the subject with Gary Stevenson of Patriotic Millionaires.

Gary Stevenson is an economist and former interest rate trader in London and Tokyo. In 2011 he became Citibank’s most profitable trader globally by correctly predicting that the aftereffects of the 2008 crisis would lead to a long term stagnation in interest rates and a rapid rise in asset values. In 2014 he retired, at 27, to study economics and inequality at Oxford University. He is currently working on economic models of inequality, wages and asset prices.