Kwarteng Compares Andy Burnham to North Korea – Insane

[00:00:02]Hi guys, this is an honest question and I've asked it before. Why the heck is Kwasi Kwarteng been interviewed about anything? In particular, why is he been interviewed about economics? I wouldn't trust this guy with a coin toss because he'd probably mess it up. So, I want to show you this clip here where he was interviewed by LBC and he was talking about socialism or socialist governments. And once again, why are we listening to Kwasi Kwarteng?

[00:00:29]>> I review of how uh e- economies work, not just from the UK, but across history.

[00:00:37]And the ultimate socialist economies, which rely on redistribution, they all failed in the 20th I'm an old man, I'm 51. And they all failed in the 20th century. You look at Cuba, you look at North Korea, you look at These are extreme examples.

[00:00:51]>> Yeah.

[00:00:51]>> But they all um essentially were built on this idea >> is it not social democrat?

[00:00:57]>> Is it not sort of social democratic capitalism? It's not the >> rich people in a kind of Robin Hood way and then redistributes it infinitely um it doesn't work cuz in the end the rich people just think actually, why bother?

[00:01:10]If you're If you're a rich person you're being taxed 50% of your income, that's a massive disincentive. For every pound you earn, 50p goes to the government.

[00:01:18]And a lot of people just say actually, do you know what? I'm going to leave the country. And that's what happened in the 70s and as far as I could see, Andy Burnham wants to to return to the 70s.

[00:01:28]>> [sighs] [gasps] >> You notice how the host was there nodding along?

[00:01:32]Like if you go with the extreme view, the extreme examples, of course you're going to be able to find problems with that.

[00:01:39]But Andy Burnham is not talking about imposing Cuban revolutionary economic policies in the UK or North Korean style policies.

[00:01:50]Like he would be more He'd be a better example would be the Scandinavian countries. See, the problem here is not so much the tax, it's the public services. I know for the conservatives, this is a completely alien alien idea, alien concept, but people are happy to pay higher taxes if they can see public services are fully funded and top quality. Look at the Scandinavian countries. People are paying higher taxes and they end up having better public services, better health care, better infrastructure. And if you have a business, and you know that well, people are going to be better off in the country, then you can have consumers who have more money.

[00:02:31]They're going to buy more of your product. If you start a business, you know that there are very good transport links, so you can get the workers in that you need.

[00:02:41]That you're going to be able to access the goods you need, the raw materials that you need, because you have top quality infrastructure.

[00:02:49]You know, even rich people get sick and not all of them rely on public on private health care. Some of them rely on public health care as well.

[00:02:57]And if you know that well, I my taxes are going to fund a a top quality health care system, then you're going to be happy with that. This sort of zero-sum game works in the minds of the conservatives because they ran public services into the ground. The tax burden increased, but the quality of public services went down under the conservatives, which Kwasi Kwarteng, of course, was a member of.

[00:03:22]I I honestly honestly don't understand why Kwasi Kwarteng I'm not an economist. I'm not a Chancellor of the Exchequer and I even I can see how Scandinavian countries are able to provide top quality health care, top quality public services and at the same time have high levels of tax.

[00:03:43]And people are not fleeing these countries. Why are they not Why are the rich Why are the rich people still in these Scandinavian countries? Because they understand the value of top quality public services. They understand, "Hey, I'm going to pay a bit more tax, but I'm going to have something in return." The conservatives are trying to sell this idea, "What we'll do is we'll cut public services and we'll cut tax and that will encourage people to stay." It will encourage some people to stay. It will benefit some people, but it will not benefit most people. Even some rich people will say, "Hey, I don't want to be involved in something like that. I don't want to live in economy like that."

[00:04:25]I I'm no expert and even I can see these things.

[00:04:31]Why? Please, somebody tell me in the comment section, why is Kwasi Kwarteng constantly on TV? Is he getting paid? Is it now that he's no longer an MP, no longer a chancellor, he has nothing to do and he's short of a bit of cash and they're paying him to come on and talk absolute tripe? I don't think I've ever said, "That's a very valid point that Kwasi Kwarteng has raised." Has anyone ever said that with the exception of maybe Liz Truss and some people within the IEA? Remember that right-wing think tank that was cheering him on when he was crashing the economy.

[00:05:06]He should be nowhere near a microphone because he adds nothing to the conversation. He's attacking Andy Burnham here. So, Andy Burnham wants to go back to the 1970s. Andy Burnham wants to implement something like Cuba or North Korean policies.

[00:05:24]There's zero evidence to back up that claim.

[00:05:28]Andy Burnham hasn't been Prime Minister for like a few days and they're already saying he's he wants to impose a communist regime >> [laughter] >> in the United Kingdom.

[00:05:41]>> [sighs] >> I don't know what else to say, guys.

[00:05:43]This is just Really, why is this guy on the screen? I'm responding to this because I think it's necessary to respond because I have to keep asking this question. Maybe if I ask it enough, somebody from LBC or from ITV or somebody from the BBC or Sky News will respond and say, "The reason we have Kwasi Kwarteng on is because {dot} {dot} {dot}."

[00:06:08]Let me know in the comment section, guys, what you think and I'll see you in the next video. If you've made it this far, thank you so much for watching this video. Remember to click like, subscribe, and ring the bell in order to stay in the loop for future videos. Now, you can also support the channel financially by clicking on the links below to Patreon, becoming a member, and of course sending me a coffee. And all of those are greatly appreciated, but of course only if you're able to. Remember, I stream twice a week on Tuesday and Friday nights uh and I hope to see you on the streams as well. So, have a great day and I'll see you in the next video.