Transcripts For DW Close 20240704

Wind is blowing as i meet julia enrolled at wild wood. Very, its a huge piece of farmland in southern england thats being returned to nature. Thanks to julia. Okay, so this is the name can be see more of it. Yeah, lets, lets have a look and take a look. Julia davies is a multi millionaire with a passion for nature. Her extreme wealth came when she sold her stay can Outdoor Equipment company or spray europe a few years ago. She cant understand why her well says no being taxed. Shes positive patriotic 1000000 as the coalition of the super rich calling for a tax on extreme wealth. They make that case and open left has to their respective governments in a time of increasing in equality. They say the solution is playing for all to see you are global representatives, have to tax us the old to rich and then you have to start now tax the ultra rich and do it now this semester was signed by more than 200000000 is opinion as worldwide what or who is stopping in 3 my was talk to a statement in as we walk to twice with us extreme. Well for nicole to see because thats part of the problem. Part of the problem is that we have concentrated wealth money in the hands of a smaller and smaller groups of people. Unfortunately, those with most wealth, all the ones are consuming results in the world in the most extreme way excessive extreme way. Of course theyve got to fly around the world in private jets. Of course theyve got to, you know, by themselves and massive cpos. They got the money to do it for too long. Weve always liked this lifestyle and were paying the price for that life styles and the natural well its play now price as well. And for me, im absolutely heart broken by what weve already allowed to happen. So im not sure well im on to time. And so they will, i kind of a little bit that i can do with my money to try and do something about that. To come back, the last of biodiversity, julia paid nearly 5000000 euros to buy this farm land, not for herself, but for the british wild life trust. It was an interest free loan, which allows for many more like it. I came up with the idea of lending the money so that they could buy sites like this. And then once they go the land enables them to then get funding and from other sources to we pay me back, which means i can then do another project. The loan has since been repaid and more land purchased for re wilding. Julia says a wealth tax would give the Government Funds to tackle the climates, emergency inequality and buttons the cost of living crisis. That the wellsystems dishonest are paying low overall levels of well for, you know, proportional levels of wealth. Some people who are just walking, you know, who are watching for living, using the label to and money, the wealthy society, they get the money from now wells. And then not being taxable, not in any way, like the degree to which people who are walking or getting tax. So im not means that theres less money coming into into sort of, you know, the public funds to invest in doing things like repair and law schools and maintaining our, and it just suits, unfortunately, its grossly under results right now. So weve proposed looking at a wealth tax or wealth above 10000000. 00 pounds, which may be 102 percent. Um and i can assure you that wealthy people can afford to pay that without impacting, di lifestyle whatsoever. So you dont have a problem to, to lose a talk. So if you will split fixation, id say its losing my wealth. I see it is an invest in public. Well, its one that i think its just right. You know, this is a so case of to have more of our use. I dont think we should be ashamed about things heading, but things on the morally correct thing today. But if we have to bring self interested into it, i think everybody benefits from living in a Welfare Society and everyone is better off when everybody is better off. Whats through using the politics dont to will fix. We have a situation where we have some people now with such extreme levels of well, so they have low power, then ill government and they have power. Overall government is absolutely clear that all government is not listening to the people because weve shown fruit massage that people are in favor of taxation of wells. And politicians dont seem to be which suggests that theyre listening to the us of a small group of people who have the most extreme levels of wealth can do not want not taxation to happen. Rough farmington is the project manager at wild woodbury, julia davis pay. So salary, he make sure the land is able to recover on the native flora and for that kind of a ton and flourish. I hope youre just a lentil which is rather know to be a purchase. Well, would praise a 170. 00 hectors, and thats pretty much everything we can see as far as the, the more intensive blocks of, um, kind of has everything in this direction and actually be on the horizon uh all the way to the nearest village. Julia davis believes nature is our greatest tricia and its on the threat. Its those like uh the super rich, the to contributing disproportionately to climate change. We are in a situation now where our children and grandchildren are going to be well, so, and also im, im ashamed of that. I really am ashamed of that. And that is directly related to the concentration of wealth. And it has a fewer and fewer people because i think we have a consensus that we need to do something and to, to reduce the potential of dangerous climate change. But the same time we have extremely wealthy people who are using the wealth to block size changes. Ive now come to london to meet another multi millionaire whos fighting for a tax on extreme wealth. London continues to be the number one Financial Center in europe and the city where the most 1000000 as and billionaire slaves not to own of them save for a wealth tax. In fact, many have stashed away their money in tax havens. The reigning monic enjoys special privileges according to know the money can. Buckingham palace pays no income tax on that personal allowances, or the millions they end from leasing out the royal estates. Nor do they pay inheritance tax on the billions to be inherited. Often the reigning monic dies. Im now meeting phil whites like do here at daves c 21. So wells tax under the stern gaze of griffins legendary prime minister, winston churchill, we may Near Parliament due to his signs, open left, his calling for a tech station on extreme wealth. The rich must pay their fair share in every country in the world. Tax us the rich and tax us now the phil white skein to as well from being a partner and major stakeholder in lodge consulting firm. We will the few steps to the promise of westminster, the seat of the petition parliament. The phil believes the tax on wells like his is long overdue well of a millionaire. And i do believe that 1000000 is, can usually contribute more to this country. What we see is a lot of people are really struggling with the cost of living choices with a whole bunch of social issues and crumbling infrastructure in many ways in the u. K. And we need money, governments, the money to solve that. And really the wealthy people like me, can contribute more, but actually take more of that load to help the country generally. Yeah. In front of the house of parliament. So its life, those positions make it will fix. I dont understand why politicians dont make a wells tact, frankly, and its always been something thats been on the agenda, but politicians dont like to do it. But its kind of old. I mean, were a, were very specifically talking about top seeing extreme wealthy. And so were not talking about the types of people we have. So what i was told was i talking people with millions of times you can afford to pay a bit of money and i cant see any logic in not doing that. So is by no means a loan amongst his pay is the group of peachtree optic 1000000. 00. As is growing all type of golf spots. We got 1000000 eggs through some friends and we got on for the legal people. Weve worked for it. We bought the inherited wealth, but everybody is coming out to from the same point of view, which is we need to do Something Better with this. And we need to do that through government. And taxation is the, is the way forward on this. Well, newly weds, have that photos taken at westminster . We had of to a nearby pub it turns out that texting the super rich for the benefits of society is an attractive concept for many. In england, i mean we do, you know, popular millionaires. We did some, some polling and we filed the, you know, the majority of people being siphoned wells tax, phil advocates implementing a Global Wealth tax and to reject the frequently cited argument that it would cause the super rich to lease the country. You know the statistics, i think somebody like 24000000 is from norway left to go to switzerland and to avoid taxation. The statistics didnt match with the 26236000 stayed in no way. So that was a very small refresh, people left so again, these statistics are often used in but again, but yes, we do need, we do need International Agreements on this. Thats important. Every year in january demonstrate to slope to the switch result town. If that was to protest at the wells, economic 4 and a meeting of the worlds wealthiest, indeed, phil lights joins the crowds because were in favor, well talk to you, they really want to reduce his level of wealth and the quality in the world. The so corrosive to society, whether the demonstrate this message goes through to the rich and powerful meeting in science is not clear. We didnt get any reaction from liberty and ill make for, for on site. But again, we did get a lot of interest again from around the world actually in again in the media and presenting that story. And understanding why the other standing in davos, arguing so well, taxes and arguing against the, the quality, the demonstrations representing the 99 percent of society, the to not match. We tend to demo self some feel like was that alone with austrian multi millionaire . My name it angler. Hon. Ive arranged to meet to in vienna. Outside the newly revamped Parliament Building low make has only returned to the building last year of 2 years of renovation. Walk malayna angled hahn is 31 years old and studied german language and literature. Somebody made its fortune through the Pharmaceutical Company building on manheim. Late grandmother as well was estimated didnt any full 1000000000 euros. She herself inherited many millions malayna in horn advocates for social justice. Shes one of the most outspoken activists calling for a wealth tax commissioner, this is for moody. I would like to see a tax on the wealth of ultra rich people like me kind of sign. Its unacceptable that most wealth is domestically concentrated among the few people fits with some of the richest, one percent, and australia hold up to 50 percent of the wealth. Well, half the population has to make do with justin to 3 percent of the wealth. Its unfairly distributed and it doesnt have to be that way. Its designed just with them being in front of the Parliament Building, while politicians taking action here, 99 by faith, politicians like the women, the coverage to take a stand against wealthy People Like Us and to say, yes, you want to keep your wealth, but the fact is that wealth is only created by society. So without the work of lots of people, invest spending, your wealth couldnt be accumulated in the 1st place. If you dont respect that and you deny that your own wealth is linked to society, schools, all of that have to be financed. And how would they find that just to texas . So you can make a contribution. And as a politician, you can require that this is a democracy, its not the welfare lead to the rules of the asked of us, of us, just a stones throw from the parliament and the renowned book to add to is cafe locked money. Its traditionally a Meeting Place for actors, politicians, business people, and janet lists its back rooms have no doubt being the scene of many a political deal. Its the politicians, but the millionaires are aiming to reach in that open latch as calling for a wealth tax. The divide between the very rich and the rest must close tax us before its too late, especially the elf. And im also speaking on behalf of our initiative text. Me now where we is 1000000 as have made a joint commitment not to discuss which taxation models would be good or to come up with our own models. Because once again, its a question of power. Why am i, as a wealthy person, allowed to decide what is a good tax model and whats a bad one . No one who pays income tax is oscar. Do you think the income tax model is good . Would you have an alternative . The question is not even asked. So i just a one time is fetus or do you think a wealth tax would from the super rich to leave the country was progressing. Dont forget that most people with a high net with just normal people, and some of the children go to school here. They have working relationships and friendships here. Theyre imbedded in society. They might also love that home and have done up the wonderfully. So they dont want to have to build a new one somewhere else to put it bluntly. Some assets constantly be moved abroad. Try packing your forest and your costs a new backpack and walking across the border. It just doesnt work. Real estate comp be moved. Because it has a wealthy families, usually have a stack of Financial Advisors who make sure that wells keeps on growing. Finished by just say i represent the richest one percent of society and view as watching represent the other 99 percent. This is how it works. I have an incredible amount of money. Lets say 100000000. Yours was speaking hypothetically. And i go to the bank with my 100000000 and one to put it in my account. The bank wage that finger at me saying, ms angle home. You have to invest it. So i opened a securities account and i invest the money. Maybe i buy shares, meaning parts of companies then belong to me. Oh, i may buy Government Funds where i lend money to the state. I might invest a real estate, so i buy houses in which people live or work. And then the following happens. The 99 percent have to eat. So they go to the supermarket in which i have shares. So when they go shopping, i get money. They have to live, so they pay rent somewhere, perhaps, and houses and apartments that i am. So they pay me rent. So i get a return on investment. I take that return to the bank and they say miss and get home, please invest. And then i buy more apartments, moshe more government bonds, and so it goes on increasing and increasing and it doesnt stop. This happened at all such stuff. I know its a dry subject and your home and go home. Joke of the day have its this tag. Yes. Hi my name is josh. I chief eh, i am a rainy and danish and dublin. Yeah, i was born at the around and 61. 00. I think its still important that the people like me to be really speak up because itd be, itd be a big part of the solution. If people to say, hey, like asking about governments to get the financing. But sorry, the government dont have the money bought this one doesnt, has the money. Christians going palace in copenhagen is the see to the danish parliament. This is where i meeting with jeff shaw g. A multi millionaire who enters money in real estate. He came here as a child from iran. The danish welfare states enabled him to study and set up his company. Now he wants to give back. He says a wealth tax could advance the Un Sustainable Development goes o s d geez, i am. And what do you mean your navy . And the, i think that the, the super rich, it has to be a part of the solution to say, to solving off problems. So this 70, to cease to dollars the top one percent. I dont believe you can do it. Thats why, how you became and when you now eh, or, i think i wish it was lucky. I worked very hard a i have the right timing and so on and so on. So the, and the, the, the society is a good way to test system where the tests pay us the pay the fast. Yeah. Dates for the kids that go for 2 days on the pressure. A lot of the pressure. So i see they beautiful, they, the society going more down than i this even more than 4 decades ago. And thats why i was, are fighting against it. Yeah, here in front of 2 students, books that they missed. Parliament light on full efficiency, implement. There will sticks to put, you dont do it is very simple. Actually its because feel the suit for each i influence so hot because a behind every one of them, the some the organizations, some super rates, some companies dont anything to them. And the thats unfortunate as the one of the biggest problems and the dont have the courage to do it. Thats why we need to go in the get the money out of politics. If you dont get the money out, i dont believe you can do it. The jeff on his little say sign to the open left his to politicians. Them also in tax. We trust. Address the elephant in the room in a toilet seat. Thats the message from jeff off malayna and others to weld latest. Yes, we want to educate public, the hunger shelter, environmental problems and so on. But it requires something about street trillion dollars to achieve that every. Yeah. And i was just yes and was yes. The top one percent you like to do it because one percent, its a one activities about 3 stadiums because we have so much money in our hands. So that the proposal and the last done but now so many years after the many others are talking about it, many ideals and so on. So im happy that the dental drafting anymore did say get it seriously. You also would lose money. Is a problem for, you know, because the, for me to get one percent my gain is more than 10 percent every year. So be just be a little bit of the gaming in even the, the getting something out of my wealth. So the supers can live their lives like the oldest have done, and of the same time the save all planet and be the heroes activity you said that it was takes is better and makes more sense than feel entropy. Why do think so . I should not the site what i like to support maybe i like catch. So i give all of my work to to get the, you know, you have a society that schools hospice as a so on. Of course it should be a democracy system that collect that money and spend that to their bill fastest. And so it benefits everybody and not because what i like or what i dont like solving the worlds problems. But the small contribution from the super rich certainly sounds good in germany to pose show a large majority in favor of taxing extreme wealth. Its the politicians who are holding back. I now have an appointment with sebastian cline. Hes another multi millionaire, or rather a full man, multi millionaire. He co developed the app fling chest, which summarizes non Fiction Books to reduce peoples reading time. Yeah, was sold last year for 200000000 years. He found his resulting wells, problematic hes had to meet you lets me out a few mate into recent years, thought a lot about the issue of inequality and i found the statistics really shocking to feed them in some countries like germany. So many people have nothing while a small group is getting more and more high quality. And then when i suddenly had all this well to myself, i didnt want to become a part of the problem. But rather part of the solution. And how would you be taught to the solution . They helped me because i decided to give up 90 percent of the wealth and transfer it to a charitable organization. But its no longer part of my private assets, but can benefit society because as of to kind of just in here for them with standing here in front of the gym and parliament went, politicians would have the means to change something to tax extreme wealth. So i am, lets, lets, lets, what was your message to them . As a spence machine . I think its shameful. The way things are now, labor is heavily taxed. Well, assets arent taxed at all, and income from assets is not taxed heavily or rather not less than labor. When this is the government does have options agreements. The inheritance tax, wealth, tax, and Capital Gains tax could all be raised infringement. There are always a few 1000000000 euros missing somewhere in the budget in schools space cuts and no longer work as well. And while at the same time, theres all this private wealth thats not taxed at all. And so much inheritance that goes on, taxed or barely taxed. So politicians do have a choice. You put it together because i think you have linda. How does it seem printer . Why do you think theyre not doing anything . The party be awesome. I keep asking myself the same question because it would be in the interests of 95 percent of the population. I think the wealthy just have a very strong lobby, so their voices get heard disproportionately stuck in. Theyll be home, im guessing meg or how to then together with others, Sebastian Klein now publishes a regular magazine promoting fac conditions in the workplace. The majority of his assets, and now with a Non Profit Organization to which he himself has no access. Not everyone gets it on to even admits himself that there may come a time when he regrets his decision. But right now he feels good about states to apply to that is to sort of ultimate and thats the lesson before the supervisor. I mean, it was actually quite a burden to me to have so much private wealth find i find it liberating to say, okay, i no longer need to think about how i can manage these assets. So they increase by to find out if it was mostly liberating. But i cant rule out that one day there might be this beautiful vineyard that id like to buy but cant. And then maybe ill be annoyed again, but if that happens, ill just have to deal with it about the house was done and send him a check on his announcement that he would be donating the money for charitable causes. Suddenly created to stuff like this, this community and help him the loads that people wrote to me. Hes eating some even sent me their account details right off. I could have given the money away very quickly, but i thought it was good if im not treating this has my private wealth. How can i maximize the positive effect that this capital has on society becomes and, and im still trying to figure that out at the time, which is one of the 1st things i want to do now is to start of media fund titles. Because many small Media Companies in germany are under funded, and we really have a problem with the media landscape. And those funding fights, few live a lot of people are no longer getting their information from reliable sources within medium. So thats one project. Now i can understand theres a few more to come in order. So since im, were done with looking paul by the name game, thats certainly no shortage of options. Gemini is wealthy, but poverty and homelessness around the rise. The corona virus pandemic, the will renew, crane Spiraling Energy prices and installation. Theyve all widens the gap between rich and poor. Logic is very soft, needs to be like its unknown equal. Societies are not stable. Theres more envy, divisions, and hatred. More crime when. And i think we need to make it clear that this affects everyone to even the wealthy and executive to leading if you live in a society that so when you called at the poor start rubbing others because they have no money and see no way of earning an honest living thats not desirable, not for the rich either. To this, you can see what its like in countries where its society is even more on equal. The rich have to live behind barbed wire fences and have soldiers protecting them from attack. And sticking this numerous articles into them, social cohesion can only work if the gap between which and pool is not too great. If wealth is not concentrated in the hands of a few, that has even met some to call for an upper limit. Tell them, well, once in the beginning you mentioned these are so few people reject the idea of an upper limit on wealth plus others are almost everyone says, yes, its ok to limit it to the question is where you limited would have an opinion on that. And everyone has an opinion on that was gone, it would just have to be negotiated politically. But to say that its okay for someone to have 50000000000, while others have nothing or drowning in debt. Is something that very few people find fair living smith and in my experience, even wealthy people dont think its fair mention because a diesel from linton as one of the worlds richest men. E loan mosque is with nearly 200000000000. 00. Thats 200000 1000000. Such wells could undermine democratic gnomes. Is it in a remote cartoons, arent allowed in a democracy . We say everyone has a single vote. But the truth is that if i have, well, if i have economic and financial power, i have more than my vote. I have access to politicians. I can push through my own agenda more effectively. Comes i can say man is the politicians dont do what i want. Then unfortunately i have to move a lot of jobs abroad. So she thats not a myth. This was there. Its what people with great wealth saved themselves, of course. And then i can confirm that to me about what does i have much more access to politicians when your average person on the street. And that just doesnt fit with the idea of democracy and where everyone should have a voice and just being pushed into something will cut you does a lot in just a mom, democracy, social cohesion, and all welds Natural Resources are all risk due to the concentration of extreme wealth in the hands of a few. And yet the solution could be so simple, the get ready for an exciting up until you look surprised. Hi, im shopping and im ready to dive into the hands of children to you. Have you have a window of the quote on that . Weve got a response and unexpected side supplies. What i mean, obviously, i know i know i might just do it and im cdw, newport task. James trace amounts, but theres no actually about meals. Join us as we travel around your, facing the history of every day of that. And thats something right around the world. And i need to talk to you that just says subscriber id. Listen to paul, gosh, then well take you along to the right. The it was a democratic see change, the opposed people voted out the right wing populace from the law and Justice Party set up again. Increasingly, it seems they were nothing more than season crooks. Im optimistic. I feel good about whats to come about it because all the elections have shown that the majority is fed up but the country is divided. Theyll be a resistance from the right great years, right wing nationalist, popular