This week, we’re talking taxes. Don’t switch off, don’t fall asleep and please don’t hire an accountant as the next 45 minutes will defy the laws of gravity and make taxes sexy. Or make saxes testy…
Mentioned in today’s show: Barbarians at the Gate: https://youtu.be/Z3HiONtjZSM?si=xZ64zb46sYIfSs5Z
For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.com
You can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/
More on Will Page at: https://pivotaleconomics.com
(Times below correspond to the episode without considering any inserted advertisements.)
In this engaging episode of Bubble Trouble, hosts Richard Kramer and Will Page explore the complex world of taxes with humor and depth. They discuss the UK's tax system, the incentives it creates, and its contribution to economic inequalities. The duo delves into the problems of the tax code, including issues surrounding tax avoidance by the wealthy, lack of public sector productivity improvements, and the inefficiencies within the HMRC. Kramer and Page critique the approach of privatizing public utilities and the potential problems with private equity in the public sector. They also touch on broader issues like the lack of investment in tax authority systems and propose using tax policies for positive changes, like encouraging the shift from petrol to electric cars in Denmark. Through their insightful conversation, Kramer and Page aim to demystify taxes and highlight their significant impact on society.
00:00 Introduction
00:46 Part One
00:51 The UK's Budget Week and Tax System Insights
01:48 Tax Evasion vs. Public Sector Productivity
02:46 The Inequality of Tax Codes: A Global Issue
04:03 Tax System Flaws and Their Impact on Society
07:22 VAT: The Taxpayer as Tax Collector
11:31 The Complexity of National Insurance
13:43 Simplifying Tax Systems: A Call for Transparency
16:28 Private Equity and Tax Systems: A New Challenge
22:39 Decoding the Fiscal Drag Queen
23:00 The Political Divide on Taxation
23:21 Economic Lecture: Tax Burden and Growth
25:07 The Impact of Fiscal Drag on Tax Bands
26:15 The Surprising Windfall from Fiscal Drag
27:22 Part Two
27:45 Exploring the World of Private Equity
28:51 The Tax Loopholes Fueling Private Equity
32:24 The Potential Bubble in Public Utilities
36:26 The Disconnect Between Tax Policy and Reality
43:58 A Positive Tax Example from Denmark
47:28 Credits
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