The collapse of the middle class & how to fix it, with Garys Economics + Stupidity or Corruption? + Australia is Corporate America's B*tch + Punters' Political Fundraiser!

The collapse of the middle class & how to fix it, with Garys Economics

THE TLDR: Gary Stevenson, a former trader who grew up poor in East London, became Citibank’s most profitable trader by betting on economic collapse due to wealth inequality. He now uses his platform to warn that unchecked wealth concentration is structurally draining the middle class and governments, leading to collapsing living standards—and the only solution is taxing wealth, not work.

KEY FACTS:

1️⃣ Wealth inequality is a structural crisis, not temporary. The rich (especially the top 1%) are rapidly accumulating wealth by owning assets (property, stocks, natural resources), while governments and the middle class are being drained. This isn’t a recession—it’s a systemic transfer of wealth upward that will keep accelerating.

2️⃣ The corporate & media class won’t fix it - as they benefit. Politicians, economists, and media (often owned by billionaires) downplay inequality because they profit from the status quo. Change requires public pressure to demand wealth taxes and reclaim Australias natural resources for the benefit of the general public.

3️⃣ Work harder is a myth—the system is rigged. Hard work no longer guarantees security as housing and essentials become unaffordable. The ultra-rich’s passive income (millions per week) lets them outbid ordinary people for assets, fueling the crisis.

4️⃣ Solutions: Wealth taxes and public mobilization. First we need to win the comms battle. The public must understand the problem—Murdoch-style propaganda dominates the narrative, we need to beat them as Politicians will only act if voters force them. Second, taxing extreme wealth (not incomes) is the only way to stop the spiral.

Delve deeper with our Punter Citations:
This is Money - Gary Stevenson and campaigners want a wealth tax: What is one and would it really work?
The Guardian: I made millions out of the last debt crisis. Now the wealthy stand to win again
Financial Review: Gina Rinehart continues her father’s tax crusade

Stupidity or Corruption? Australia gives away ANOTHER $500 Million

THE TLDR: Australian taxpayers are being forced to pay Chevron $500 million to clean up its environmental mess, despite the company making billions in profits, paying little to no taxes, and avoiding royalties for decades—raising questions about government corruption and corporate exploitation.

KEY FACTS:

1️⃣ Chevron has paid just $1 billion in royalties over 60 years—averaging a pitiful $16.7 million per year. After taxpayers cover its $500 million cleanup bill, Australia’s net gain shrinks to just $8.3 million per year. For perspective, Qatar earns $76 billion annually from its gas.

2️⃣ Corporate Tax Dodging: Chevron has paid $0 in income tax for multiple years (2020, 2021) despite $9.3B+ revenue, and funneled $7.3B in dividends offshore to avoid taxes. Even when caught, their "royalties" over 60 years total just $1B—less than Qatar earns in royalties in 5 days.

3️⃣ Political Donations: Chevron gave $45K to Labor, $43K to Liberals, and $4K to Nationals—pocket change for a company that avoids billions in taxes. Yet both parties protect Chevron’s scams, proving donors write the rules, not voters.

Delve deeper with our Punter Citations:
Michael West - Exxon confirms Tax Office in pursuit as it and Chevron rip $13bn dividends out of Australia
The Guardian - Australian taxpayers on the hook to pay Chevron more than $500m to clean up oil wells
The Australia Institute - Zero royalties charged on $111 billion in WA gas sales

Australia is Corporate America's B*tch And Its Costing You BILLIONS

THE TLDR: Australia is being exploited by foreign corporations—like Coca-Cola and salmon farms—who extract billions in resources, pay little to no taxes or royalties, and leave environmental disasters for taxpayers to clean up. Meanwhile, politicians endorse these companies instead of protecting public interests.

KEY FACTS:

1️⃣ Corporate Theft of Resources: Coca-Cola has taken Perth’s groundwater for free for decades, bottling and selling it while shifting $430M offshore to avoid taxes. Salmon farms (like Tassal, owned by Canadian Cooke Aquaculture) dump 6x more pollution than sewage, use 60,000 seal bombs (explosives harming protected species), and pay $0 in taxes despite massive profits.

2️⃣ Corporate Tax Dodging: Chevron has paid $0 in income tax for multiple years (2020, 2021) despite $9.3B+ revenue, and funneled $7.3B in dividends offshore to avoid taxes. Even when caught, their "royalties" over 60 years total just $1B—less than Qatar earns in royalties in 5 days.

3️⃣ Politicians Enable the Scam: Albo endorsed Tassal salmon (a tax-dodging, eco-wrecking firm) in a PR stunt while ignoring its extinction-level damage to species like the Maugean skate.

Delve deeper with our Punter Citations:
The Australia institute - The big stink of Tasmanian Salmon farms – six times more pollution than Tasmanian sewage
The Monthly - Labor’s first extinction
The Australian Institute - Tasmanian salmon: more revenue, more pollution, but always less tax

Punters' Political Fundraiser!

The date has officially been set - 4th November 2025 at the QT Hotel in Canberra. Make sure you listen to next weeks episode of the podcast for tickets information and a competition to win! Learn about the event here.