Patrick E

@EpochOfWhat " His trust pays 0.6% p/a over 70 years, which is 42%"- Yeah, and the value of the property in that trust will have increased by (conservatively) 2000% in the last 70 years. Again, absurd to claim this is a significant tax burden.

@EpochOfWhat "He's one of the highest taxpayers in the UK". Yeah, and Pakistan's GPD is higher than Luxembourg's. Which one is the richer country? *Proportionally* (entire point of the argument) his tax burden is very low

The left love to hold this guy up as a fountain of knowledge, but the truth is that his claims about him being the UK's best reader are not supported by any evidence other than him saying "that's what I was told", and the second he gets in a room with people who genuinely understand finance (not trading, finance) and tax laws, he falls apart. This was hilarious to watch and shows him for the snake oil salesman he always was. 🤣

@StuartH39312445 @PoliticsJOE_UK @garyseconomics 2nd clip: GS is explaining the diff between highly speculative assets (crypto) and income-producing assets (stock). The critique is purely at the level of irrelevant technical detail. Saying DTCC owns your shares is a bit like saying the crown *technically* owns your house in UK

@PoliticsJOE_UK @garyseconomics Hardly surprising. However he comes out of this looking a little less than competent. x.com/Glinner/status… Less so on this. x.com/Glinner/status… Hope the greens are not hanging all their hopes on him.

And @garyseconomics comes out for Greens 👀

@jimthegiant There’s been a deluge right wing influencers sharing that clip of Dan Priestly making a series of misleading, fatuous, points “trusts aren’t subject to inheritance tax cause they can’t die”, “Duke of Westminster does pay income tax” (just not on the £10bn) in his debate vs Gary

If rich people complain about capitalism they are hypocrites If poor people complain they are envious

@Matt_r_nz @kevverage Noo Matt. Don’t focus on that. Focus on GS being 5% off about top rate inc tax And when he’s taken aback by ludicrous, trivial claim “the DoW does pay inc. tax” (tho it’s a minuscule proportion of net worth) youre supposed to think that means he doesn’t understand economics.

@kevverage Hi Kevin, what is the point of a trust? Why would someone keep billions of pounds worth of assets in a trust? What is the reason behind it?

how this guy has a following i will never know - the level of economic illiteracy on display here is astounding

@valdirunshorn @PeterMcCormack Average flat in Limehouse is about £500k. Exactly where you’d live if you had £2m and wanted to retire <40

@PeterMcCormack If he made 2 milion he wouldn't live in a shit flat in Limehouse. He definitely didn't make 2 million as a junior trader because out of those 6 years, 2 he was a grad then 1 he was some sabatical bs...

Incentives matter. Gary admitted on Pier’s Morgan that he made around £2m as a trader. This may seem like a lot of money, but it’s not retirement money on the lifestyle he will maintain. Gary needs to sell books and awareness. He’s spotted a vulnerability with a particular group so he sells emotional based economics. It isn’t actually economics, it’s whinging and victim culture. His answers come down to socialism, but socialism harms the people he claims to want to help. Gary is wrong. Don’t be a Gary.

@clim8resistance GS flummoxed by bad-faith , trivialities. 'DoW pays inc. tax'- tiny % of his net w '1 of highest taxpayers'- misleading 'Income diff to inheritance'- normative claim disguised as plain fact: confusing *if* and *why* they are treated differently GS correct on substantive point

I've never been sufficiently interested to give him a hearing before. But here he really does not sound like anyone with any serious grasp of economics/finance/etc. He struggles with some basic concepts that would be immediately understood by someone with a fraction of the background he claims. What a strange phenomenon.

@TfL I got a train at D Kingsland (delayed 13.46 to CJ). One kid pulls the emergency stop as a joke, delays an already late train. Another jumped from a shelter roof onto the top of the train, narrowly avoiding the cables. Ppl screaming, thought he was going to die. Utter chaos.