so<00:00:00.719> we<00:00:00.900> have<00:00:00.960> a<00:00:01.079> form<00:00:01.199> of<00:00:01.380> tax<00:00:01.620> National

so we have a form of tax National

so we have a form of tax National Insurance<00:00:02.520> specifically<00:00:03.300> targeted<00:00:03.780> working

Insurance specifically targeted working

Insurance specifically targeted working people<00:00:04.319> then<00:00:04.680> you<00:00:04.860> have<00:00:04.920> vat<00:00:05.220> which<00:00:05.460> is<00:00:05.640> on

people then you have vat which is on

people then you have vat which is on consumption<00:00:06.779> now<00:00:07.379> very<00:00:07.740> rich<00:00:07.919> people<00:00:08.099> consume

consumption now very rich people consume

consumption now very rich people consume very<00:00:09.240> very<00:00:09.420> small<00:00:09.720> percentage<00:00:10.080> of<00:00:10.139> their

very very small percentage of their

very very small percentage of their income<00:00:10.500> so<00:00:10.620> they<00:00:10.800> pay<00:00:10.980> very<00:00:11.160> little<00:00:11.340> v80<00:00:11.700> so<00:00:12.420> a

income so they pay very little v80 so a

income so they pay very little v80 so a vat<00:00:12.900> Target<00:00:13.259> that<00:00:13.740> Ordinary<00:00:14.519> People<00:00:14.820> National

vat Target that Ordinary People National

vat Target that Ordinary People National Insurance<00:00:15.780> Target<00:00:16.199> that<00:00:16.500> working<00:00:16.740> people

Insurance Target that working people

Insurance Target that working people income<00:00:17.699> tax<00:00:17.880> avoidable<00:00:18.420> for<00:00:18.600> the<00:00:18.779> rich

income tax avoidable for the rich

income tax avoidable for the rich inherent<00:00:19.500> stocks<00:00:19.859> avoidable<00:00:20.220> for<00:00:20.340> the<00:00:20.520> rich

inherent stocks avoidable for the rich

inherent stocks avoidable for the rich the<00:00:21.240> end<00:00:21.359> result<00:00:21.539> is<00:00:21.779> you<00:00:21.900> have<00:00:22.020> a<00:00:22.140> tax<00:00:22.260> system

the end result is you have a tax system

the end result is you have a tax system which<00:00:22.740> looks<00:00:23.279> Progressive<00:00:23.820> for<00:00:23.939> ordinary

which looks Progressive for ordinary

which looks Progressive for ordinary people<00:00:24.480> because<00:00:24.720> you're<00:00:24.900> only<00:00:25.019> comparing

people because you're only comparing

people because you're only comparing yourself<00:00:25.560> to<00:00:25.800> people<00:00:25.980> around<00:00:26.279> you<00:00:26.519> who<00:00:26.820> are

yourself to people around you who are

yourself to people around you who are ordinary<00:00:27.300> people<00:00:27.539> at<00:00:28.260> the<00:00:28.439> same<00:00:28.560> time<00:00:28.619> you

ordinary people at the same time you

ordinary people at the same time you have<00:00:28.980> this<00:00:29.160> small<00:00:29.340> group<00:00:29.580> of<00:00:29.699> people<00:00:29.880> who<00:00:30.180> are

have this small group of people who are

have this small group of people who are phenomenally<00:00:30.720> Rich<00:00:31.019> who<00:00:31.740> are<00:00:31.980> increasingly

phenomenally Rich who are increasingly

phenomenally Rich who are increasingly buying<00:00:32.880> everything

buying everything

buying everything you<00:00:34.440> don't<00:00:34.620> often<00:00:34.920> get<00:00:35.040> to<00:00:35.100> see<00:00:35.219> in<00:00:35.340> day-to-day

you don't often get to see in day-to-day

you don't often get to see in day-to-day life<00:00:35.940> that<00:00:36.660> are<00:00:36.840> paying<00:00:37.079> nothing<00:00:37.399> generating

life that are paying nothing generating

life that are paying nothing generating huge<00:00:38.640> amounts<00:00:38.940> of<00:00:39.000> income<00:00:39.239> and<00:00:39.480> using<00:00:39.719> that

huge amounts of income and using that

huge amounts of income and using that income<00:00:40.079> to<00:00:40.200> buy<00:00:40.320> the<00:00:40.440> rest<00:00:40.559> of<00:00:40.680> the<00:00:40.800> assets<00:00:41.100> so

income to buy the rest of the assets so

income to buy the rest of the assets so um<00:00:42.360> who<00:00:42.780> pays<00:00:43.140> tax<00:00:43.260> uh<00:00:44.219> if<00:00:44.399> you're<00:00:44.520> a<00:00:44.640> working

um who pays tax uh if you're a working

um who pays tax uh if you're a working person<00:00:45.120> in<00:00:45.480> an<00:00:45.540> ordinary<00:00:45.899> financial

person in an ordinary financial

person in an ordinary financial situation<00:00:46.620> uh<00:00:47.160> you<00:00:47.460> who<00:00:48.120> doesn't<00:00:48.300> pay<00:00:48.539> tax

situation uh you who doesn't pay tax

situation uh you who doesn't pay tax very<00:00:49.200> wealthy<00:00:49.559> families<00:00:49.920> uh<00:00:50.700> the<00:00:50.820> people<00:00:50.940> who

very wealthy families uh the people who

very wealthy families uh the people who receive<00:00:51.420> your<00:00:51.539> mortgage<00:00:51.899> payments<00:00:52.260> your<00:00:52.440> rent

receive your mortgage payments your rent

receive your mortgage payments your rent payments

payments

payments um the<00:00:54.120> money<00:00:54.239> you<00:00:54.360> spend<00:00:54.539> on<00:00:54.660> food<00:00:54.780> and<00:00:54.960> bills

um the money you spend on food and bills

um the money you spend on food and bills they<00:00:55.559> don't<00:00:55.680> pay<00:00:55.800> any<00:00:55.920> tax<00:00:56.160> on<00:00:56.399> that

they don't pay any tax on that

they don't pay any tax on that and<00:00:57.600> they<00:00:57.719> I've<00:00:57.960> been<00:00:58.140> using<00:00:58.379> that<00:00:58.500> money<00:00:58.680> to

and they I've been using that money to

and they I've been using that money to buy<00:00:58.980> the<00:00:59.160> rest<00:00:59.219> of<00:00:59.340> the<00:00:59.399> wealth