Please do a video about how our representatives in Congress vote against their constituents’ best interests about 70% of the time (because…money). Thx!

@mattja52

2 жыл бұрын

@@Jack-Shat Correct, when it became a career, civil servant died! What can we expect, they have the power to vote themselves a raise. Examine their salaries, U. S. Senators and House Representatives, $174,000. Majority leader and minority leader of the Senate, $193,400. Majority leader and minority leader of The House Of Representatives, $193,400. The Speaker of the House, $223,500, who do they represent?

@Lobsterwithinternet

2 жыл бұрын

@@mattja52 You're missing the forest from the trees here. It's not about the salary they're paid, it's the campaign contributions, insider trading, and kickbacks that total many times what they paid with the added bonus of a career in lobbying and being a ‘consultant’ after they leave.

@individualisttv9247

2 жыл бұрын

How on earth could you expect someone who wins a popularity contest to represent you or make choices you like? Democracy is absurd

@Lobsterwithinternet

2 жыл бұрын

@@individualisttv9247 It's why our founding fathers were against it, at least universal suffrage.

@individualisttv9247

2 жыл бұрын

@@Lobsterwithinternet first of all “we” do not have founding fathers. There is no “our” as we own nothing jointly. Second of all, these people who came up with this system very much believed in the constitutional system… because they were the ones who imposed it on the populace.

wealth inequality is actually well under control, its just that its under the control of the people who have all the wealth

@yelyab1

2 жыл бұрын

Good one! They wouldn’t have any other way.

@klachingmacgaming8400

2 жыл бұрын

a normal guy could avoid paying taxes

@platypodesrock9221

2 жыл бұрын

@@klachingmacgaming8400 but *should* they

@PhoenixCrown

2 жыл бұрын

@@platypodesrock9221 I think yes. I'm not sure when taxes became more about social engineering than funding shared and necessary services like roads, utilities, fire dept. etc. but it was somewhere before we had thousands of pages of tax code. Now, you get tax breaks for doing what the government wants you to do. Easiest example is real estate: They want housing, so they give huge tax incentives to rental properties. Therefore, if you pay nothing in taxes, it means you're doing what your government is asking of you, so isn't that patriotic? Notice I'm not saying it's fair, just reality.

@platypodesrock9221

2 жыл бұрын

@@PhoenixCrown that is actually stupid and untrue most of the times people pay no taxes it **requires** tax evasion. Also that’s untrue because income tax , Vat, school taxes etc etc cannot be avoided even if you “do what your government wants . FYI tax evasion is immoral unless you live under an unimaginably corrupt government like literal nazis

I think it starts by banning politicians from taking any money from a person or a business/corporation. This includes their campaigns. Their campaigns should only be funded by those people who wish to donate during their tax filings. When on your tax form it asks if you want to donate to a political party.

@aceous99

10 ай бұрын

usa has made corporations have the same rights as humans, thanks supreme court!

@PAMELAPORTER-ci7mr

10 ай бұрын

Here's a thought from college (long ago), how about our tax dollars pay for elections? Everyone would get the same amount and no dark money.

@Rebrn-bk5em

8 ай бұрын

Any politician that gets into office and is worth tens of millions when they leave is a gd criminal

@cfri9332

8 ай бұрын

Imagine, it's that easy, and it serves the people. But it's not being done. Why? No democracy.

@MrMarkOlson

7 ай бұрын

@@kandiekane. Terminate lobbying unless it is funded by many grass-roots small donations.

It's not about stopping people from obtaining wealth, it's about putting a limit on greed.

@coreyburke3493

24 күн бұрын

Exactly. I don't care how much money someone has. If they have employees and all of those employees are paid a wage that allows them to live a comfortable life it's all good.

"If a man has an apartment stacked to the ceiling with newspapers, we call him crazy. If a woman has a trailer house full of cats, we call her nuts. But when people pathologically hoard so much cash that they impoverish the entire nation, we put them on the cover of Fortune magazine and pretend that they are role models." ~ Lester B. Pearson

@davidsambora8924

2 жыл бұрын

And then we increasingly "subsidize" THEM, while denying any real assistance for the "crazies!!!" This is the mantra for our dysfunctional society... (Thanks for sharing)

@markintexas1296

2 жыл бұрын

@Do no harm Sense?? Well put down your smart phone because a rich guy invented it. Park your Tesla or turn off your computer because a rich guy invented it. As usual you cry about a problem you made. We put Kardasiens and other do nothing, make nothing people of way more covers.

@thinktransnational

2 жыл бұрын

@@markintexas1296 Untrue and untrue. We don’t have billionaires to thank for these inventions, we have either well meaning folks trying to do good in the world or the government. The most technological advance of the modern-era, indeed the very technology that allows the smart phone to be smart, internet, was invented by the government. Also, please stop with the idea that just cause someone invents something of value that gives them permission to exploit the masses. The true value of any company is the people that work for it. Without them there wouldn’t be products to buy.

@mikehaynes1769

2 жыл бұрын

‘Hoarding cash’ has never impoverished an entire nation, or even another person.

@adamoleoni2272

2 жыл бұрын

@@mikehaynes1769 It does. When you pay politician to create policies that allow you to keep more Money and therefore give less back to the community, you are hoarding cash and creating damage to the whole society.

As a UK citizen, this is why I get so damn annoyed when wealthy, retired Boomers - with their cast-iron pensions guaranteed for them by promises made decades ago, their free healthcare, free bus passes, annual heating allowance whether they need it or not, and their properties with mortgages all paid off because *they* bought *their* houses when it was easy and affordable to do so - accuse the younger generations of "spending all their money on stupid things and not saving for the future, like *we* did." YOU DID BECAUSE YOU COULD; your working years were the most secure and financially beneficial in modern history. Your wages kept pace with inflation, property prices were reasonable, you had the benefits of a well-funded National Health Service AND statutory pension scheme, AND most of the public services, like the railways, telephone and utility companies, were all nationalised, so there were no shareholders behind the scenes determined to make a huge, fat profit off those public services. If you'd had to live YOUR working years the way the majority of the younger generations do now, you'd most likely have saved even less than us.

@cheesybits834

2 жыл бұрын

I'm not even in the UK and see this problem here in the US too. There is even a few colleges allowing seniors to go to college for 10 dollars per class. This is ridiculous

@aquienpuedainteresar4188

2 жыл бұрын

@@cheesybits834 Can any Senior Citizen do this or only the wealthy? Do you know which colleges?

@miriamsackler5002

2 жыл бұрын

It is worst in the USA. To be totally honest, you guys millennials are just fucked by the system. I am wealthy, by any standard, very wealthy. But I have two daughters who just started working in NYC. Good, decent jobs, earning between 65K and 125K (approximately). With the current housing prices and living expenses, it would be impossible for them to have decent lives in NYC. And they do not have Student Loan!

@chinafuture6484

2 жыл бұрын

"Wealth inequality exists because people don't work hard enough" - average Boomer

@briansmith8898

2 жыл бұрын

@@aquienpuedainteresar4188 Some colleges give free or reduced tuition to seniors. IN those cases, it's not divided by income, just age. It's mostly a PR move. Seniors pursuing education aren't looking to make moves in their careers, they are mostly just looking for something to take up time in retirement.

Robert Reich is beyond amazing. I achieved wealth doing this.

@gabriellat.6735

9 ай бұрын

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@gabriellat.6735

9 ай бұрын

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@gabriellat.6735

9 ай бұрын

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@gabriellat.6735

9 ай бұрын

*•Isabelle Chloe Scott•*

@yung1448

9 ай бұрын

Opportunity like this is a scarce commodity. It’s good to be here. I’ll partake in this.

German sociologist, Robert Michel's theory on the iron law of oligarchy states that most democratic states and regimes start off as egalitarian, but eventually the power and wealth gets concentrated in the hands of the few elite individuals who control and acquire uninhibited access to social, cultural, and economic capital. You could also say that Max Weber's iron cage reinforces the idea that wealth and power is in the hands of those elite technocrats and plutocrats who have the opportunity to seek out positions that control policies and regulations that aid and enable those with plenary powers. It's sad really. Factions exist because they too have a right in the democratic institutions we live in. We cannot drown out their voice, even if they come from privileged and wealthy backgrounds. Despite the fact they hold unlimited amount of lobbying power and political clout.

@tj-co9go

11 ай бұрын

None of any states in Europe have ever started as democratic. Has any state ever started? They were originally oligarchic. In a way this tendency is thus not as weird as it sounds

the IRS came after me because I forgot to include a $185 payment I received when I file my taxes. the IRS does nothing to go after the millionaires and billionaires evading their taxes. fair system I say in America.

@richardnwilson

2 жыл бұрын

One of the problems as I understand it is that the large corporations and multi-billionaires have accountants that far outnumber and outgun the IRS. The IRS doesn't stand a chance against them. The IRS needs to be fully funded to get what is due the American public. Of course the government is controlled by wealthy people so why would they want to increase the irs's budget?

@Shari466

2 жыл бұрын

Same thing happened to us. Only they waited 5 yrs to notify us. We had sent a money order. By the time they told us they didn't get the $97 payment it had 5 yrs of interest and penalties on it. Was over $500

@Amanda_Harper

2 жыл бұрын

The IRS work for them, not you,

@xmateinc

2 жыл бұрын

its cause they know you cant fight back.

@DepressinglyOptimistic

2 жыл бұрын

IRS doesn’t have the manpower to go after the wealthy because our government hasn’t made taxing the rich a priority since the 1960s

"Second Gilded Age." Finally, someone said it out loud!

@briansmith8898

2 жыл бұрын

To be clear, the term is "Gilded," meaning, covered in gold. A "Guilded" age, meaning one dominated with guilds, would be like the mid twentieth century, when Unions, which are very like guilds, opposed the bigwigs and helped to keep income and wealth a bit closer together.

@Taervis

2 жыл бұрын

@@briansmith8898 Oops, typo. Yes, the term is "Gilded Age".

@williamyoung9401

Жыл бұрын

Hey Rob, will you run for president? We need a second Teddy Roosevelt to break up these corps up again!

@loturzelrestaurant

Жыл бұрын

@@briansmith8898 Stop Getting Used. Start watching 'Second Thought', starting with his videos 'America Compared' and such.

"After just a few generations of this almost ALL of America's wealth could be in the hands of a few thousand families." This is one of my biggest fears, and the pattern will repeat across the world. That'll happen here in the UK too, which is why I save, save, save. My parents think I sacrifice too much of the present for the future, and maybe they're right but only to an extent. The future is so scary as everything's only going to get more dangerous - Money, climate change ... do you need a third one??

@ronaldreagan-ik6hz

10 ай бұрын

Then stop worrying about everyone else and focus on your own success. Duhhhh

@helenaquin1797

9 ай бұрын

@@ronaldreagan-ik6hz Maybe stop worrying about others' comments to focus on your own navel..(?)

@ronaldreagan-ik6hz

9 ай бұрын

perhaps you could identify anything i said that was factually incorrect? @@helenaquin1797

@JaneNewAuthor

8 ай бұрын

Population decline. Very real and happening all around the world.

@ronaldreagan-ik6hz

8 ай бұрын

Explain how the creation of a wealthy person through merit comes at the expense of another person?

One key element you left out, international growth has caused much of the u.s. wealth gap increase. In 1965, only 5% of the U.S. stock market was owned by foreigners, now its 40%. That drives up the overall wealth of ANYONE in the stock market, including workers with pensions. Source: Federal Reserve Board report called “financial accounts of the United States”. In addition, way more of our entrepreneurs have been able to export, making them even richer.

@slevinchannel7589

Жыл бұрын

'The Past and Future of WORK' by 'Some More News' and the follow-up video about Unions are a Must-Watch for Worker-Class, especially Americans. Stop Getting Used. Start watching 'Second Thought', starting with his videos 'America Compared' and such.

We put up with way too much. Almost like the whole of the populace is in an abusive relationship and cant stand up for themselves.

@mtn1793

2 жыл бұрын

It is that exactly that, except we can stand up for our greater Self, one way or another…

@9skyman945

2 жыл бұрын

@Alpha Omega They worship them because they all believe they can be like them, when history has shown that will never happen

@phriedokra6158

2 жыл бұрын

In the 80s a great book called WHEN SOCIETY BECOMES AN ADDICT ...Ann Wilson Schaef....talks about the White Male Dominance of Society, using the Fear of Not Hsving Enough to justify yhings. ETC. CODEPENDCY rates were predicted to be in the high 90s THEN!!

@mtn1793

2 жыл бұрын

@@phriedokra6158 I remember her name from the movement for self realization back then. Sure is obvious now, the money addiction. So befuddled in their disease they can’t even mount a decent reaction to climate change, which by the way was an issue even then…

@gobigorange

2 жыл бұрын

@Alpha Omega keep them hungry and they’ll be grateful for bread crumbs

"In a few generations almost all America's wealth could be in the hands of a few thousand families." That one hit me hard 😶

@jwil4905

2 жыл бұрын

Never happen.

@robertsmith-williams5255

2 жыл бұрын

@@jwil4905 hah, please sir please tell why? Wait, no no, I know is it because some of those families are responsible for catastrophic destruction of the biosphere, so it'll be the post-apocalypse? Just guessing ...

@jwil4905

2 жыл бұрын

@@robertsmith-williams5255 You're clearly not educated enough to understand how capitalism works, so explaining to you will be pointless.

@just_a_turtle_chad

2 жыл бұрын

@@jwil4905 So are you saying capitalism is working or what?

@robertsmith-williams5255

2 жыл бұрын

@@jwil4905 "clearly"? Interesting. I want to know why *you* think it won't happen, please help me grow my mind, fine sir. While you do that I'll hide my Adams, Picketty, Friedman, Sen, Malthus actually the whole shelf and that pesky BEc. This is an RR vid who do think watches these, haha, you.

It’s nice that Robert Reich has been spending the last decade or so teaching us about the wealth inequality he help to create while he was advising presidents who sent American jobs to Mexico with NAFTA.

@DipayanPyne94

Жыл бұрын

Really ??

@aceous99

11 ай бұрын

you prob voted 4 Trump

@margueritewood7036

11 ай бұрын

@@aceous99 nope

@ronaldreagan-ik6hz

10 ай бұрын

@@aceous99 well voting for Biden has been proven to be a disaster hasn’t it Brandon?

@fritzforsthoefel8031

9 ай бұрын

Under trump low income workers pay rose as a percentage faster than anyone elses low interest rates low inflation low unemployment lower illegal immegration what did you not like about these things

You pay tax on inherited assets if and when the heir sells them. It isn’t perpetual. Those assets are also subject to volatile market fluctuations.

"Wealth inequality is eating this country alive." - Couldn't agree more.

@1Skeptik1

2 жыл бұрын

Robert Reich has a net worth of $5 million dollars, as of 2021! Yet here he is crying about income inequity The median American retiree has a portfolio of about $225,000. Reich is worth over 20 times that. IRONY! Wake up kids, this guy is so full of ssh*t his eyes are brown and he produces NOTHING!

@Praisethesunson

2 жыл бұрын

@@1Skeptik1 He produced your hissy fit. Cause you a simp for your economic masters.

@Praisethesunson

2 жыл бұрын

@@Zach-ju5vi You only think it's brainwashing because you are an idiot. Go back to the Prager U cesspit you came from.

@coryryder9070

2 жыл бұрын

carlin was right - " its the american dream because you have to be asleep to believe in it "

@coryryder9070

2 жыл бұрын

amc gme too the moon

Making economics clear and simple to non-economists is some saintly work. I’m sure it’s been said many times in the comments for your channel but RR, you’re my hero.

@juliosanchez4036

2 жыл бұрын

True !! Hispanic power

@harrisonwintergreen1147

2 жыл бұрын

Reich is a lawyer, not an economist

@juliosanchez4036

2 жыл бұрын

@@Zach-ju5vi help me understand

@wvu05

2 жыл бұрын

@@juliosanchez4036 The person you're replying to doesn't like what he has to say, so instead of engaging the material, just says a bunch of stuff in the hopes that it will stick, completely missing the point that it helps the algorithm to get the message out to more people.

@robertprice9052

2 жыл бұрын

except he doesn't tell the truth

He just gave us the blueprint to attaining wealth as long as you control your expenditures. The only thing you don’t control is taxes. Which is what he is advocating for more of. Sure he says tax the wealthy but crap never rolls uphill.

@aceous99

11 ай бұрын

only tax cuts for the rich , the non rich always have to shoulder the burden.

@RaquelSantos-hj1mq

11 ай бұрын

The wealthy are already taxed. In 2020, the top 1 percent of earners (with incomes over $548,336) paid nearly 42 percent of all income taxes. The amount of income taxes paid in this percentile is nearly twice as much as their AGI share. Source: National Taxpayers Union: Who pays income tax? Their figures are straight from the IRS publicly released data.

@fritzforsthoefel8031

8 ай бұрын

Not true at all the top five percent pay over half the federal taxes what are you talking about

@coreyburke3493

24 күн бұрын

Here's the thing. We used to have much higher taxes as most countries do. Then Reagan started selling people on tax cuts for the rich helping everyone and what happened? Ever since that period of time wages have fallen further and further away from inflation. So cutting taxes has simply helped the rich keep more of their money. It's not hard to find examples of countries with higher taxes, more equality and a higher quality of life.

I guarantee that Robert Reich uses every tax break possible.

@fritzforsthoefel8031

Жыл бұрын

He makes a fortune giving speeches

This was excellent. Here's another twisted fact: even without political power or a mountain of assets, the merely "comfortably rich" (not the top 1%, but say in the 2%-5% range) can still avoid significant taxes, particularly between generations, through loop-holey tax avoidance strategies. The minute a new law is passed, sharp lawyers and tax specialists develop work-arounds to it, for $500/hr to $1,000/hr. I always felt it bizarre that someone would pay, say, $2M over ten years to a tax advisor who sets up all sorts of trusts and inter-family loans for the purpose of avoiding taxes, when that money could otherwise have been paid as taxes and done some good for everyone, rather than that one smart advisor. Some people see taxes as so evil that they are willing to pay nearly the same amount to advisors to just to avoid paying it to uncle Sam. It's bizarre. I speak as a somewhat confused beneficiary of some of these shenanigans.

@coolmodelguy6304

2 жыл бұрын

Ever since the final business quarter of 1980, the sum total of financial assets (from which IRA's and 401k's are derived), has been greater than our GDP. This happened because Congress gutted company funded pensions in 1974. At the end of 1980, the sum total financial assets was half a trillion more than our GDP. By 1990 that gap was enlarged to $6.9 trillion. By the year 2000 the gap had widened further to $21.2 trillion. Today that gap is $93.684 trillion or 4.8 times the size of our GDP. Today the gap has widened so far that extraction from the population is simply not enough to fuel a 12% annual growth rate, so the government is now being looted. The money to grow IRA's and 401k's is stolen, not earned. What gives anyone the right to take money they have not earned?

@jalight27

2 жыл бұрын

Because they save them from contributing $4M to the public fund. Plus there's always the aspect of power corrupting and all that. If you can get away with it you feel powerful. Which is why you generally amass ridiculous amounts of money to begin with. Or at least, this is my theory 😒

@whyamimrpink78

2 жыл бұрын

Not really. Reich needs to learn what wealth is. A lot of the wealth the wealthy own is non liquidated. And many, like me due to loans, have negative wealth but are doing fine. Reich is trying to simply be emotional and not rational.

@9skyman945

2 жыл бұрын

@@whyamimrpink78 Reich literally says at the beginning of The Basics section that wealth is also the sum of non-liquid assets: cars, homes, etc. Looks like you didn't really watch the video.

@waynemangan9925

2 жыл бұрын

@@whyamimrpink78 So according to you, nonliquid assets dont count as wealth. See if that argument holds up when you tell the state you have no cash to pay the property taxes on all your properties because of no tenants and see if they agree. In case you missed it, the crucial argument is for eliminating transactional tax loopholes for the super rich, mainly corporations, which would not include coming to take away your 2nd 3rd and 4th mansion etc, but actually enforcing the collection of taxes at an equivalent rate to the average individual.

Science fiction author Frank Herbert had an observation on this, which he included in his Dune series: "Governments, if they endure, always tend toward aristocratic forms. No government in history has been able to avoid this pattern. And as the aristocracy develops government tends more and more to act in favor of the Ruling Class, whether that ruling class be hereditary royalty, oligarchs of financial empires, theocratic clergy, or entrenched bureaucracy."

@zuzanazuscinova5209

Жыл бұрын

Exactly. Human society always gravitates towards aristocracy.

@themurph930

Жыл бұрын

Power begets power, and money is power.

@murdelabop

Жыл бұрын

@@themurph930 Sort of. Wealth and power are inseparable conjoined twins. Where there is one there will always be the other.

@gaktaulagi3579

Жыл бұрын

I think its called the Iron law of oligarchy

@PAMELAPORTER-ci7mr

10 ай бұрын

This is what frightened me about S Bannon as he's in favor of aristocracy in the US.

What practical steps can we take to become more equal?

Wealth isn’t a crime. Try having regulatory agencies actually criminalize fraud.

Your content is priceless. Please add voice over to the "chapter" transitions, so that blind and low vision people can benefit from it.

@kaminoshi713

2 жыл бұрын

Wait, I’ve never thought of this. Do blind people “watch” yt?

@Drewstir68

2 жыл бұрын

@@kaminoshi713 yea they listen in, phones have become a lot easier to navigate for the visually impaired. I had a guy in one of my classes who could play yt videos, news reels, tik toks

@austinhernandez2716

2 жыл бұрын

@@kaminoshi713 they can still listen to it

@eelvis1674

2 жыл бұрын

@Alpha Omega conservatives are getting better at comedy and it's making lefties nervous

@aprildawnsunshine4326

2 жыл бұрын

@@kaminoshi713 they don't just watch it. Check out Molly Burke. She's an amazing blind KZreadr and she'll change the way you think about blindness forever.

It amazes me how craven they are to fight paying just 2%. The word malicious also comes to mind. Deplorable, too.

@car9167

Жыл бұрын

Here is an example. I bought a house 3 years ago for about 400k. Due to house prices increase by wallstreet buying houses the house value is 700k now. If I wait another 4-5 years, add my savings and my wife savings and our 401k probably I will exceed one million. Do I am a millionaire? I don't think so. Do I feel like a millionaire? Not at all. So why would I pay 2% which is 20,000 every year of my life having all these years I'm paying my assets valued of over 1 million?

@TheD4VR0S

Жыл бұрын

@@car9167 Facts dont care about your feelings ps: your assets arnt worth over 1 million unless your claiming everything is yours and your wife has nothing and its not 20,000 its 2% of everything over 1mil and it would be increase in wealth not total wealth

@halfjack2758

Жыл бұрын

@@car9167 2% of your wealth over 1 mil, not 2% of your wealth if you're over 1 mil.

@thomasbuck303

Жыл бұрын

@@halfjack2758 yeah this kind of tax should be targeted to those a little higher up the food chain. A lot of people save and make sacrifices for many decades to just retire with a little nest egg of 2 million. Trust me its not a lot and portions usually go to a struggling relative, medical expenses, funerals, etc.

@car9167

Жыл бұрын

@@halfjack2758 Thanks for clarifying. I would tax the increase YOY of wealth. So if this year you're worth 100B and next year 120B they you pay a percentage of the difference of 20B. But if your wealth decreased to 110B due to market fluctuations or whatever than you would need to get back from IRS for the 10B you lost.

Flat tax, 20%, businesses, people (below poverty line and retired exempt)... No loopholes, no exemptions, no depreciation, no credits, no contributions of any kind - take all that stuff out of the income/profit tax system! I'm tired of supplementing someone else's solar panels, or paying for their religion, or their favorite charity...charity means giving, not getting refunds from WE THE PEOPLE! If there isn't enough people caring for a cause without tax write off attachment, it wasn't worth having!!! That's equal, fair, and Governments should be able to balance budgets and pay off the deficit, and stop rIsing spending ceilings (deficit spending, deeper in debt). Money goes to one pot, Fed, State, and local governments figure out how to split and spend...with less IRS agents needed too...one page tax returns, no special and complicated schedules, etc needed! Only refunds, for those who over paid!!! KISS - KEEP IT SIMPLE STUPID!

@aceous99

10 ай бұрын

how about no'' - Big Bizzness

@davidav8orpflanz561

10 ай бұрын

@@aceous99 Why?

Mister Reich, could you please do a video about the Gini index (2024 predictions) ? And where US stands to other nations. 😊 i would like that .

This is actually a worldwide problem. We see the same phenomenon in Europe. Here, the rich mostly hide behind the middle class claiming that taxing the rich would also lead to a shrinkage of the middle class. It amazes me that people can even develop such a level of unsaturable greed. I mean a multibillionaire wouldn't even notice a billion dollar tax payment. Their money usually sits around and does nothing except growing. Even when they spend they usually don't touch their assets but instead borrow against them.

@practicaliching2311

Жыл бұрын

When during the Trump administration the 1/5th of wage earners had their incomes rise the fastest of all groups. That was the first time that had happened since the George W Bush administration. Because both Trump and W. used Kennedy's theory of using lower taxes, less immigration, deregulation, and smaller government to tighten up the labor market. Which raises wages, allows mobility, allows for advancement, and gives people dignity. Compare that to the Democrat policies of using high taxes, over regulation, open immigration, and big government to put permanent slack into the labor market. Which drives down wages and drives up housing prices at the same time, to the point tens of millions of people don't have any money left over at the end of the month. And it's the low wages at the bottom that allows the excesses at the top, causing the wealth gap. Raising the bottom 1/5th of wage earners wealth relative to everyone else is something liberals will never be able to do because of their policies. If Reich actually cared about working class people, Reich would be a Kennedy Reagan conservative.

@ronaldreagan-ik6hz

Жыл бұрын

You’re so misinformed

@fritzforsthoefel8031

7 ай бұрын

So maney after a person gets to s certain level of wealth they should shut down there businesses so they cannot get any richer don't you ahree

@frankmorris4790

7 ай бұрын

Huh "A millionare wouldn't notice a billion dollar tax bill". Think on that awhile....

@fritzforsthoefel8031

7 ай бұрын

Democrats know only two words free or subsadized

This is how I've always put it when talking about the rich actually paying their fair share in taxes. It's nothing to them, but _everything_ to us. Their lives will not change in any fundamental way, but it will enable our society to do what it is supposed to do and actually support real people.

@donaldbrown7237

2 жыл бұрын

@Alpha Omega the ultra rich donors class of people who buy and sell the politicans are the ones profiting from buying their way to get control over the average American workers and it is time to tax them fairly quickly because the trumpets will sooner than later figure out that they have been played brilliantly but when they do it could be bad for the rich and i would like it to stay peaceful i am to old for this stuff

@nfzeta128

2 жыл бұрын

Thing is, they're the reason for the system.

@ateamfan42

2 жыл бұрын

@Alpha Omega The ultra wealthy OWN the system. They have the financial power to put politicians in place who back the legal loopholes that allow the ultra wealthy to accumulate more wealth and pay less taxes. The only way the system changes is if the ordinary people understand this reality (this video goes a long way to help that!), and then VOTE to elect people that will actually change the system. Too often the poor vote against their own best interests because they believe the political rhetoric promoted by those very politicians the ultra wealthy support.

@spaghettimeatballs6352

2 жыл бұрын

@Alpha Omega well the system wouldn’t allow it if the wealthy didn’t bribe them 😶

@areyouawake1805

2 жыл бұрын

@Alpha Omega "Hidden Secrets of Money. " now you know.

I grew up in a middle class family (mine was probably upper, hers very middle), but neither of us are set to inherit much of anything that we’re aware of (in our 30s). We currently make about 200-250k a year, saving and investing like our children’s lives depend on it. We paid for school, don’t want them to. When our parents felt a “pinch”, we noticed. So when you start talking about a 2% tax on a millionaire transfer of wealth, you lose me. The difference between a millionaire and billionaire sounds like nothing to someone paycheck to paycheck, but it’s literally 1,000 times the money. Im not Walton rich, I’m not Musk rich, I am not them. If I’m lucky, I might pass on a few million to my kids in total assets; which they better use correctly. My parents couldn’t afford a NES, that’s the American dream. Don’t confuse the 10% with the .01%, we are not the same at all. And a millionaire is less impressive than it sounds like.

@RBMDragon

8 ай бұрын

In my country, I earn in the upper 15%, but I can't see myself with a house and car. Don't get me wrong, I live well, but as you note; the difference between the 10%, 1% and 0,1% is so insane that most cannot comprehend the exponential differences.

@WETs3rgullioni

5 ай бұрын

Not 2% of million. It’s 2% of gains that are over a million. Under this standard you would technically be fine Because your assets haven’t even reached a million. Another thing - capital gains tax of 2% is referring to the fluctuation of the market and appreciation of value (I.e. it has nothing to do with how much you save or income you make.) the 2% gains tax is for appreciation of wealth over time - money that just sits there and increases in value over time. For example, if you purchased a 400k house and it is now worth 750k bcs of luck, the amount that could eventually be taxed would be those 350k.

@alexjones7845

5 ай бұрын

@@WETs3rgullioni No, he said a wealth tax of "2% a year of wealth over a million dollars." That is literally what he said it he completely lost me at that point. All of the normal people just trying to retire and not be poor will often have more than a million in wealth between the equity in their house and their retirement accounts. Living in a high cost of living area would subject a very large amount of Americans. Maybe start that tax at $10 million in wealth but $1 mil is just crazy (and would never pass because much of the democratic base in states like CA and NY would fall in that category). What you're referring to is 'unrealized capital gains' tax. Yes, there are politicians that also want to create that tax but it is very different.

@coreyburke3493

24 күн бұрын

Who is talking about taxing someone like you more? I ask because every time I hear about tax increases or ideas around that subject it's usually around $400k a year that is the level talked about. And as I'm sure you know each year tax brackets are adjusted for inflation. So if we tax people making over $400k a year 2% more then $400k number goes up each year anyway. And as far as taxing things parents leave their kids I don't see the problem. If I found out a long lost uncle gave me a million dollars and I had to pay $200k in taxes I still have $800k I didn't lift a finger for. Generally a wealth tax isn't talking about your home or retirement accounts. So if your house and retirement accounts are taken out of your net worth and you have a million dollars still that's hardly a lot of money. I would say that anything like that should be hard coded to go to very specific things like education or something that can actually change the lives of people struggling to make it and not simply into a general fund to fund wars or whatever crap our government wants.

Taxing someone with slightly more than $1mln dollars isn't taxing the wealthy, that could be taxing someone who has worked hard all their life and contributed to their pensions. It would have to start at higher level than that.

@jamiesteiger6140

4 ай бұрын

Yes, the slope is slippery when the government wants more tax revenue.

@coreyburke3493

24 күн бұрын

Generally taxes are talked about as a portion of yearly income. So someone making a million dollars a year is absolutely wealthy. I've yet to see anyone talk about taxing people on wealth unless we're talking about billionaires.

We need this man doing an adult version of “The More You Know” on evening television

@ateamfan42

2 жыл бұрын

We do, but getting messages like this on television is a very long shot. When ultra wealthy people and corporations control massive media outlets, they are in position to prevent messages like this from getting to the masses.

@roughhabit9085

2 жыл бұрын

When the government over spends supposedly for our own benefit, the only people who end up advantaged by the resultant inflation is the rich .

@Mike-vd2qt

2 жыл бұрын

Who do think owns "evening television"?

@miintyfresj

2 жыл бұрын

That would be so good!!

@DiThi

2 жыл бұрын

And it should include a section explaining that the rich avoid taxes by *not selling* and instead *getting loans* by using their property as collateral. They completely sidestep the typical argument of "but they don't have all that wealth in money, they would have to sell!" etc. No, they don't.

Imagine disliking this video & not being a Billionaire. 🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️

@Praisethesunson

2 жыл бұрын

@@Zach-ju5vi found the Prager U graduate

@Praisethesunson

2 жыл бұрын

@CL Wil Don't forget the simps of big capital Bootlickers love to worship the undeserved pillaging of their self appointed betters.

@haithamelatrache1231

2 жыл бұрын

@@Zach-ju5vi it is not about blaming rich people, we are talking here about the 1% insanely rich that pay zero taxes while the rest of us are paying maybe more. enlighten us smart boy ! how does the economy works and tell us why it is okay they shouldn't pay their fair share, or tell us why the people should pay any taxes at all in the first place

@csanderson5163

2 жыл бұрын

Imagine liking this video and having a brain.

@xmateinc

2 жыл бұрын

@@csanderson5163 so whats wrong with the video since you have such a big brain.

I've long said that the one difference between people who have money and those who don't (I'm not talking about a lot of $$$, but people that can come up with money in an needed emergency) is........... delayed gratification

My Respects to you, Mr Reich. Thanks for the information.

My Gram from PA was raised on a farm had a saying: "Money is like manure; it only works when you spread it around to make things grow." Stop hoarding $$$ & start speading!

@lexingtonbrython1897

2 жыл бұрын

If the rich actually did spread around their hoarded wealth, things would be a lot better

@mtn1793

2 жыл бұрын

There are so many opportunities and reasons for the rich to get a clue… Dont make US get out the pitchforks to drive the point home.

@donaldbrown7237

2 жыл бұрын

@@lexingtonbrython1897 the thing that most people miss about the ultra rich spreading their money around is they will be getting something for their money .not just throwing it out the window. But enjoying the products they buy .I think most billionaires must be Hoarders like on the TV show and will never give up 1 dollar and they want to control everything they see and will never be happy unless they are in charge of everything

@youtubesucks1499

2 жыл бұрын

Do you think they have 250 billion dollars in cash and are hoarding it?

@steelman774

2 жыл бұрын

The whole “skipping taxes” bit burns me up because taxes are there so we can all chip in so, while we all need to do our parts, the people who have the most ability to contribute should be the first to step up and lead. THAT being said, I find it greatly disappointing that the HaveNots want the Haves to give them there property (ill gotten wealth or not) like We live in the first socialist society in the history of the world that worked. They are spreading it around as investments which return dividends so their money works for them. As far as “Stop hoarding $$$ and start spreading” goes … 1) Money isn’t worth anything and has no power if it isn’t spent. “It takes money to make money” is about growing wealth they’re just spending it in a way that benefits themselves… 2) how would you like it if someone else with “less financial success” told you how you should spend your money … 3) If you’ve EVER denied giving money to a homeless person or to a charity then you don’t get a voice in this matter. Just like so many of us look at a homeless person and think that they would miss-use any money given them, to the ultra rich WE are the less financially aware people who “wouldn’t do the right thing with the money given to them”. He hit the nail on the head at the end of this video with the flat 2% tax. Fair is fair and it would make it easier on all of us too to have refined tax laws. We are a dual income household with one house and 3 cars yet SOMEHOW I manage to get it wrong every year and Uncle Sam gets his IRS goons to send me love letters about how I owe them even more and more. 🤦‍♂️🤦‍♂️🤦‍♂️

Even if the IRS were fully funded, I believe that they would need the backing of all 3 branches of federal government to actually go after the rich to make them pay their fair share. As it is they Target low hanging fruit by going after the poor who may done the earned income credit incorrectly when they filed doing their own taxes because they couldn't afford professional to do it for them

@vicoilsteems9764

2 жыл бұрын

They're going to double down on going after the poor with the new right wing conservative Democrats ( aka moderates) created tax law in back back better. Up until now any income from ebay sales under 20,000 Dollars wasn't reported,the new law has Ebay with PayPal and your bank report all payments deposited in your account anyone with over $600 will now get a 1099 form .

@TheActionBastard

Жыл бұрын

The IRS *does* target those of us at the bottom. Do you know why? Simple economics. They do not have the resources to fight the army of lawyers the wealthy can hire, but they know that you and I are on our own and cannot afford a protracted battle over a few quid. So they would need a MASSIVE budgetary increase and, as you said, full governmental support to take that task on... effectively we all have to decide "this is happening or none of you are going to live through the end of the year" and then force our government to do it. If they were sure we'd revolt if it didn't get done I am pretty sure it would get done... yeah money is nice, but what you gonna do about 50 million people willing to die to make you pay your share? You can't jail them. You can't kill them all (for every 1 you killed 2 more would spring up in righteous fury over it). Basically at the end of the day it's on us to fix this.

@Don.tKillTheMessanger

Жыл бұрын

@@TheActionBastard Ideally that would be a great solution. Unfortunately, there are too many ppl who are afraid to push for change. Ppl on the streets and minimum wage earners are busy just trying to survive, while others are too scared of losing what little they have. They're told it's immigrants or the homeless or any number of minorities that are "spoiling" it for them. Instead of educating themselves, they believe the propaganda of the ultra wealthy that flows through corporate and right wing media. Not to mention the power of religious institutions who's millions of members are living in an alternate universe. It's maddening. How do we get through to all those ppl who think they already have the answers?

@franklinloll2229

Жыл бұрын

@@TheActionBastard the IRS has the backing of the federal government. Their lawyers are more than capable of standing up to anyone's lawyers.

@schloughed

Жыл бұрын

What is a fair share?

I understand where Mr. Riech is coming from. But I am a Stoic so I ask myself: Have I made decisions and taken actions that reduced my wealrh, reduced my potential? The answer is: YES.... So how can I hold others responsible for my actions or non-actions?

@ronaldreagan-ik6hz

10 ай бұрын

Democrats are that stupid

You have done a great job explaining what has happened but I am surprised you do not explain what is underlies all this. A money system and government bailouts that always favor the most wealthy. I hope you will read "Broken Money" by Lynn Alden.

@thee_OFFline_Jawn

2 ай бұрын

Underrated comment 🙏🏽

The game of Monopoly was invented shortly after Roosevelt’s actions due to Public Awareness of Wealth Inequality. It’s lesson of Free Market Capitalism still stands today. When one player has all the money... the game is over !

@colorpg152

Жыл бұрын

and people still doesn't realize it

@xavierschmid2014

Жыл бұрын

​ @ColoRpg You are really stupid I hope you know that

@MrCanucklehead75

Жыл бұрын

@@colorpg152 That's the problem with simplifying and trivializing a serious subject. It doesn't get treated with the seriousness it deserves, plus there's a disconnect in applying it one's own life.

@unkono

Жыл бұрын

The game is definitely over.

@DannyChoriki

Жыл бұрын

In terms of fairness, the game is over before it begins. In real life, when you start, the game has been going on for a long time, all the properties are owned, and some people started with a stack of money. You on the other hand, have a small bank account and must go all the way around to get more money until you can somehow buy a property. Good luck with that.

Robert, one thing you could have touched on is how the "big" money families buy medias and push philosophies that continue to benefit themselves. Thanks for your videos. I hope enough Americans can wake up.

@Navy35

Жыл бұрын

Since most media is left leaning liberal, of course Robert won’t mention the inequality of television and print ! He doesn’t care about that injustice because it doesn’t fit his narrative

@eladlutz

Жыл бұрын

@@Navy35 your not close enough attention Matthew, don't drink the trumpy koolaid!

@markdouglas8073

Жыл бұрын

Nothing “Trumpy” about the truth.

@karlabritfeld7104

Жыл бұрын

He did

@nicolasg91

Жыл бұрын

Who donates to this guy? I'm sure he is incorruptible as well.

Thank you. Very clear explanation of what is happening in the US. Young people are hurting. More homeless..

I am a self-published author. I sold $100 worth of books in 2021. Amazon 1099's authors and I neglected to include this in my filing and the IRS flagged me for not including the 1099, for $100 which is not required because it is under the required amount.

Remember when Dubya insisted that "the Death Tax" affected Average Americans? *Well, Dubya was lying. Dubya worked for people like this **4:16*

@edarcuri182

2 жыл бұрын

Tell a farmer that fable.

@arcanondrum6543

2 жыл бұрын

@@edarcuri182 A real Farmer would know that Farms are exempt - because; something about "growing food" sounded important. You're not criticizing Farmers, are you?

@moresnacksplease526

2 жыл бұрын

@@edarcuri182 You mean like Monsanto? They would prefer more wealth, and land consolidation.

@youtubesucks1499

2 жыл бұрын

@@arcanondrum6543 They aren't exempt.

@arcanondrum6543

2 жыл бұрын

@@youtubesucks1499 Indeed they are. Learn more, THEN Comment. No one will look after a simpleton who is unwilling to learn. You'll just be an angry victim, lashing out. "Different" than now?

I love this man. I love his passion, his kindness and his clarity. I wish that more people heeded his warnings and accepted his ideas. Obviously, trickle down economics hasn’t worked. I’m making about the same as I was when I started working in the early 80’s. And that’s in real dollars not adjusted for inflation. My standard of living has steadily gone down. I have a house (inherited and needing repairs) and a minimum of savings. I expect to have to work until I die and I’m good with money. I was born into the upper middle class but how can you save if you can barely cover regular expenses? Within my lifetime, America’s economic structure has been decimated. And it’s not because people don’t work hard 😓. The people who have so very clearly benefited are the ones who are responsible. The loopholes and special interests must end and they must pay their taxes. We the people deserved it.

@ronaldreagan-ik6hz

Жыл бұрын

What a pile of garbage. Liberals think “working hard” is anyone that works 8 hours a day, 40 hours a week. Yet- sales professionals that often make the highest wages often work 70-100 hours a week - and shocker-they earn a lot more money. You fools that call anyone a “hard worker” are just ignorant as hell.

Income and wealth are not distributed evenly. So is everything else in the world. Athletic capability. Artistic talent. Song writing. Writing books. Get over it. Quit being a victim. Work ethic and common sense are also not evenly distributed. Work hard, pay attention. Save every dollar you can when you’re young. Quit buying things that you can’t afford to impress people that don’t like you anyway. Hard work and diligence are the keys do financial independence. Taxing wealth is simply Our government stealing from those who have worked hard, saved and invested

@ronaldreagan-ik6hz

9 ай бұрын

Exactly. That’s why I left the democrat party during Obama’s term.

@ 5:25 "Wealth begets more power." That's only because it's possible to buy out politicians. If it were illegal to buy out (donate) to politicians, none of this would be a problem. Then laws would be passed which actually benefits the common person.

Thank you Robert Reich, this really concerns public administration and public policy, some dogs do not let other dogs eat...

@registereddemocrat3183

2 жыл бұрын

Robert Reich is very rich, quite hypocritical, and I’m a progressive.

@ados1280

2 жыл бұрын

@@registereddemocrat3183 It's not hypocrisy because he pays his taxes. Just simply having money is not hypocrisy.

@11BusStop

2 жыл бұрын

@@ados1280 Agree. Such a simplistic view. It actually makes him more credible to a certain degree.

@antoniocalhau4711

2 жыл бұрын

@@registereddemocrat3183, At least he is not getting in other people's way, much on the contrary, Senator Longwall manchin is the problem, we must carve that sucker with the filibuster.

@animalfarm7467

2 жыл бұрын

So why is someone who was "Labor" Secretary under the president (Billy Clinton) who initiated "NAFTA", now trying to sell us on the scam he now works for the interest of the people? Why is Robert Reich, who oversaw Clinton's deregulation of Wall Street and the crushing of Social Security, now pretending he is a Progressive? Could it be so the plutocrats can continue to have their agents within the system when most of this crashes around our feet? Reich must be hoping Gore Vidal's "Unites States of Amnesia" still applies.

I don't mind these big wigs amounting such wealth, but when they affect (or rig) the system and screw the working class in multiple ways, something's gotta give. People working in the essential medical field such as EMT shouldn't have to make a second income to pay their bills. They're the frontlines of saving lives. Then again, the medical field here in US shouldn't be a private sector to begin with, again going full circle on these big wigs.

@haithamelatrache1231

2 жыл бұрын

it is not about whether it bothers you or not people getting insanely rich or not, it is about paying back to the society their fair share !! after all, they benefited from the services offered by the society and should pay their fair share taxes. What bothers me people that keep licking their boot and a $ $ hoping one day they become themselves in their place. pathetic

@lexslate2476

2 жыл бұрын

Those giant balls of money always affect the system they're in. Especially in a system where elected officials have to spend so much time looking for donations to fund their next campaign. And the grotesque wealth inequality only happened *because* the working classes were being squeezed for every penny they're worth and more. You have done the equivalent of saying "I don't mind rain unless things get wet".

@austinhernandez2716

2 жыл бұрын

NO ONE should have to work so much just to survive. Everyone has the right to life...

@mtn1793

2 жыл бұрын

It’s a matter of balance. Between the political duopoly greedy for donations and the ultra rich greedy for their addiction, our nation and our world have gone way out of balance. It can either destroy the engine or it can be brought back to balance. There are zero tolerances left in this human machine. Especially considering the CO2 problem. The piper is owed!

@nergispaul9022

2 жыл бұрын

Rigging the system and screwing workers is how they build that kind of wealth.

Would a tax incentive for companies labor cost help increase wages? It seems to me this would give companies more incentive to raise wages. The more you pay in wages the lower your tax rate. This is based on a company actually paying taxes.

The more one learns about the tax system the easier it is to get tax exemptions. What people should do is learn the system and how to benefit from it rather than try to reform it without knowing what is going on. Those that are rich and have lots of wealth learned the system. Majority of the populace are encouraged NOT to learn the system. But that's my LIMITED view on the subject. I'm a working-class citizen living to paycheck to paycheck as well. But I'm learning ways to invest what I can and lower my credit debt along with budgeting. I feel like I'm getting on track to increasing my personal wealth.

@dongunderson9352

Жыл бұрын

You seem to completely miss the point that the majority don't have the wealth to manipulate the system.

@MrMooAndMoonSquirrelToo

Жыл бұрын

If you think the loopholes in the tax system benefit the non-wealthy you’re sadly mistaken. There may be some that do but they don’t amount to much and the majority of these loopholes benefit the wealthy.

@dongunderson9352

Жыл бұрын

@@MrMooAndMoonSquirrelToo You misunderstood me. YES, the majority of loopholes benefit the wealthy. Learning the system doesn't benefit the working class much, because what they will learn is that there are a lot of tax loopholes for corporations & the wealthy, but not much for the working class.

I finally had it explained in a way that was simple enough for me to get: The strength of the economy depends on how much of the money is being used. If massive piles of money are disappearing into some cartel warehouse or billionaire's bank account and never coming out, that money is removed from the economy, which gets smaller and weaker.

@11BusStop

2 жыл бұрын

Not only that but those massive piles of money gain interest just by existing. Which means their ability to grow exponentially will continue to take a larger portion of the pie.

@wvu05

2 жыл бұрын

@@Zach-ju5vi Economic activity is what makes the economy grow. Fiat currency isn't based on pulling a number out of thin air.

@wvu05

2 жыл бұрын

@@Zach-ju5vi Depends on the activity. Hoarding wealth does not activity make. You can either have a river or a pond.

@wvu05

2 жыл бұрын

@@Zach-ju5vi If we tax companies, we will use it to build the infrastructure to improve logistics and develop talent to make better hires. In 2017, Mnuchin was at a meeting of executives and asked how many would use the (then-potential) tax cuts to invest back in the company or hiring people. Five said yes in a room of hundreds. Most of the money from the corporate tax cuts went to stock buybacks. How is that circulating money? Send the money where it actually gets spent, and the economy will grow.

@wvu05

2 жыл бұрын

@@Zach-ju5vi Fixing the infrastructure that is falling apart would be a big start. And, of course, the reflexive complaint about the one organization that has actually helped working people make a better life. The need for affordable housing and the transition to renewable energy are also things that definitely haven't been completely addressed.

This was a fantastic video, but he fails to mention that Reagan’s cut of taxes from 70% top marginal tax to 25% with the idea of trickle down economics, has totally failed miserably.

@bonniegaither3994

2 жыл бұрын

Yep, pretty much our entire economic problems can be traced back to Reagan

@mlh5434

2 жыл бұрын

I guess I'm confused how it failed miserably if inflation-adjusted median household income and inflation-adjusted median personal income have both risen significantly (34% and 56%, respectively) since 1981? To the contrary, that sounds like a pretty clear success.

@sdefonta

2 жыл бұрын

@@mlh5434 where are your sources and are you using real inflation (not the "official" government definition)?

@mlh5434

2 жыл бұрын

@@sdefonta The Census Bureau's data. Just search for "real median household income FRED" and "real median personal income FRED" and you will see the charts. "are you using real inflation (not the "official" government definition)" Lol, this is a neat little trick: "Please cite your sources. But you're not allowed to use official ones." This is what we like to call playing tennis without the net.

@sdefonta

2 жыл бұрын

@@mlh5434 if you use the same census data starting from 1965 the bottom 75% of income has barely changed (

Well... thank you for stock info *starts time machine*

Robert, if you can show how the lazy won't benefit, I'm on board.

@Pistolita221

11 ай бұрын

Well, there really aren't that many lazy people. Most people get bored af sitting around all day and prefer to work for something to do. The reason no one wants to work is because no one wants to abide by the social contract anymore. The idea that you should be polite or attempt to understand why service work is difficult is completely lost. Everyone wants to be mean, so no one wants to deal with that sort of customer/management. Also, Healthcare and education make workers better not lazier.

We also need to shield the poor and middle class from these laws. The rich dodge them but I sure didn’t, I had to pay capital gains tax when I sold one of my two acres of land to my in-laws so they could build a house. I just needed the money to pay off debt and I still ended up owing a lot extra on my income tax. Now I’m in debt to the IRS and will have a payment plan this year. Sell an asset to get out of debt and end up in debt for my trouble.

@bonesandbells

2 жыл бұрын

It's largely the built-in wealth tax from inflation. You sold two acres of land that were still the same two acres of land that you bought or inherited, yet with the declining purchasing power of the Dollar were worth more in Dollars so you owed capital gains. Gains and interest below the rate of inflation shouldn't be taxed.

@falconphilips2420

Жыл бұрын

That's shit and sounds like gods honest truth. Feeling like I'm spinning my wheels and only chance at retirement is societal collapse

@schwartzenheimer1

Жыл бұрын

Exactly - negligible increase of enforcement on the Rich, and an army of bureaucrats squeezing pennies from those who barely have any...

@franklinloll2229

Жыл бұрын

We need a flat rate tax on everything. No irs nedded.

@yellowblanka6058

Жыл бұрын

@@franklinloll2229 Or the ultra-rich should actually pay their fair share - why shouldn't people with obscene amounts of money earned on the back of the masses, and partially attribute to national architecture/programs pay their fair share? Think of all the societal problems that could be solved if the relative few earning godly amounts paid their fair share - the middle-class sure aren't allowed to dodge taxers/employ tax shelters etc.

Two words Ronald Reagan

@Praisethesunson

2 жыл бұрын

Two more words. Powell memo

@stormwatcher59

2 жыл бұрын

Yep. "saint" Reagan's policies really hurt America!

@Praisethesunson

2 жыл бұрын

@@Zach-ju5vi Only according to the corporate media. Which unilaterally gave treasonous Reagan that title because he made corporate propaganda more powerful and the economic elite more wealthy.

@VEGTheAgingHippie

2 жыл бұрын

@@Zach-ju5vi To the oligarchs perhaps, but he did more lasting damage to America than any president. He's no hero in spite of all the revisionist history that you apparently swallowed.

@PleromaticCipher

2 жыл бұрын

@@VEGTheAgingHippie Don't respond to him. He's just a troll.

Average salary across the board is $22.65 hrs? Adjusted for inflation, minimum wage should've been $21.00 hrs ten years ago.

This should only apply to the Mega rich people, but not people working hard to get ahead for their family and for retirement benefit.

@SipLeila

4 ай бұрын

And what if you win the lottery? Then you will be accused of robbing the poor, when actually it is the poor robbing everyone.

@SipLeila

4 ай бұрын

Go research how much welfare people get in your state. Then you will see why the rich don't want to support millions of very lazy people!

You know how Wealth inequality has spiraled out of control? Bailouts, trade restrictions, IP laws, regulations that get rid of competition, Zoning laws, drug laws, certificate of needs, etc. Why don't you go after these things that would have the MOST impact on people's lives?

@elizabethpeterson56

Жыл бұрын

uhhh probabl cuz they offer large pots of gold to folks who know how to take advantage i.e. payroll protection which alost 75 percent stayed with the employer and not 'doled' out to employees!!!!

@Djblois1

Жыл бұрын

@@elizabethpeterson56 you are just adding to my point.

@mae2759

Жыл бұрын

Because it's just easier to yell into the void "Rich people bad! Hurr durrrrr!" People don't realize that government is the problem.

@ronaldreagan-ik6hz

10 ай бұрын

Nah. Just stop voting for democrats for 10 years.

Professor, why don’t you ever mention that the Fed’s Quantitative Easing policies (that is, maintaining ultra-low interest rates) have been transferring wealth from the Bottom 90 Percent to the Top 10 Percent for the past 13 years? As interest rates fall toward zero, the present value of future cash flows increases, which increases the value of the underlying asset (e.g., stock; real estate). At the same time, savers earn little interest income on their savings.

@MicahErfan

2 жыл бұрын

Savers are also rich. The claim that low interest rates intrinsically worsens inequality without looking at the fiscal expenditure side is highly dubious.

@lawyer1165

2 жыл бұрын

@@MicahErfan I wasn’t attempting to describe all the problems of the world in three sentences.

@gibblespascack1418

2 жыл бұрын

@@MicahErfan Absolutely, all of those 401Ks and IRA are benefiting from the stock market growth. The only ones who miss out, don't fund these accounts. The individual is the cause of lack of wealth generation is because of their spending habits and lack of thinking about their future.

@coolmodelguy6304

2 жыл бұрын

@@gibblespascack1418 - Wrong. The individuals cause of lack of wealth generation is that the money used to grow those IRS's and 401k's is extracted from from the society in the form of increased costs year over year, with the money from the extraction going to those who have not actually earned that wealth. Blaming the individual is a con job. Over half of the 2020 GDP went to grow the value of financial assets. Compounded interest is wealth extraction, not wealth creation.

@gibblespascack1418

2 жыл бұрын

@@coolmodelguy6304 Your reason that an IRA or 401k does not grow is because the company makes a profit on the goods sold or are you saying that it is the manpower/raw materials costs? Ok, so the profits go to the company(after paying those expenses), which pays the investors in that company The investors in those companies are the people who own the stock and for public companies, the largest shareholders are the IRAs and 401K funds. So if you have that IRA or 401K and invest in mutual funds, you account grows with the rest of the market. For my S&P fund, that growth rate has been ~12% for the past 30 years. Again, the lack of funding your investment account is the primary reason that people are not generating wealth. People like you spend everything that they earn, no matter how much they earn. That goes for people in the heartland and also people in NYCX who earn over $175K per year. No amount of income is enough when there is no control of spending. If you don't like the companies who are making profits selling you things, don't buy the stuff. And don't even suggest that 401K and IRA management fees(1%) are eating up the ~12% fund growth in the S&P500 mutual funds. That is just stupid.

Thank u Robert 😅 hard to think it's been 40+ years since Reagan

So true. but how are we going to Change this?

"Don't get mad at politicians, they are just employees of large corporations". Noam Chomsky

Wealth inequality is the most important issue of our time... The solution starts with UBI and (actually) taxing the rich 🤑

@mathias8627

2 жыл бұрын

@@Zach-ju5vi laughable reply... You offer no counter solution just vague criticism because you're scared of the word socialism

@mathias8627

2 жыл бұрын

@@Zach-ju5vi another laughable reply showing how ignorant you truly are on the topic... The US sanctions crippled both those countries.... and IDC what you have to say, no one invited you and your asinine POV to the discussion

@kimberlychodur3508

2 жыл бұрын

@@Zach-ju5vi so I will ask, what are your solutions? I'm up for solutions, I have doubts about UBI, would employers pay even less knowing people are getting UBI, would that eliminate other social programs? I don't know enough about it. I would be willing to listen to your solutions.

@9skyman945

2 жыл бұрын

Instead of Universal Basic Income, Universal Basic Services (i.e. healthcare, education) would be better. Inflation is an actual issue with UBI.

@9skyman945

2 жыл бұрын

@@Zach-ju5vi One of the first things that needs to happen is for our government to stop printing so much money. The insane amount of money printing going on hasn't caused a rapid increase in the rate our inflation is increasing because the other economic troubles caused by current world situations are keeping the insane money printing our government is doing in check. In other words, we've got an unstable equilibrium, sort of.

Increasing funding to the IRS, without oversight, is fraught. Recent increases have resulted in INCREASED taxation and enforcement on the middle and lower classes - take the eBay/Craigslist/Etsy, etc. reporting and record-keeping requirements for people selling only $600/yr (down from $20000)! Exactly which extremely wealthy people are going to be paying this?? Arguing for more IRS agents, to be utilized enforcing actions against Grandma selling off her ancient possessions, which we all know have no extant proof of purchase, is robbing the poor to spare the rich. Nice trick Hood Robin! The IRS has plenty of agents to pursue the thieving Rich, starting with members of Congress, whose wealth cannot be explained by their salaries. If only there was the mandate to do so, instead of pursuing Mary Jane, selling jars of peach jam on Etsy...it's just plain corruption. And it stinks.

Literally- the top 25% of earners pay 85% of all taxes.

@fritzforsthoefel8031

8 ай бұрын

Yep

@cfri9332

8 ай бұрын

We're coming for your money, what are you gonna do about it?

@fritzforsthoefel8031

8 ай бұрын

Vote out democrats Is a good start

@ronaldreagan-ik6hz

8 ай бұрын

@@cfri9332 sure. That will raise the poor. You idiot.

@ronaldreagan-ik6hz

8 ай бұрын

@@cfri9332 Democrats are the dumbest party today. Just look at your useless leader. Fools

I wish Professor Reich would also focus on how wealth inequality is a damper on the economy. Imbalances and stratification create fetters in the consumer economy, production, research etc. that are driven by an aspiring middle class. Economic oligarchy starts eroding it’s own source of wealth and power as the middle class becomes poor, less educated and unable to drive a robust culture and its economy. Collapse will ensue.

@Hermes_Agoraeus

2 жыл бұрын

Hallelujah! A commenter that still remembers the lessons of the Great Depression. Inverting your insight also implies that social wealth can be created by ending poverty, too.

@coolmodelguy6304

2 жыл бұрын

Talk about a damper on the economy . . . . . . . . Here are some facts for you, taken straight from the Federal Reserve. Ever since the final business quarter of 1980, the sum total of financial assets (from which IRA's and 401k's are derived), has been greater than our GDP. This happened because Congress gutted company funded pensions in 1974. At the end of 1980, the sum total financial assets was half a trillion more than our GDP. By 1990 that gap was enlarged to $6.9 trillion. By the year 2000 the gap had widened further to $21.2 trillion. Today that gap is $93.684 trillion or 4.8 times the size of our GDP. Today the gap has widened so far that extraction from the population is simply not enough to fuel a 12% annual growth rate, so the government is now being looted. The money to grow IRA's and 401k's is stolen, not earned. What gives anyone the right to take money they have not earned? Also, what happens when there is no more loot to steal? Now when I say "looting" and "stolen", this is all legal and on the up and up, because the wealthy paid for the politicians who made it all legal. If we are supposed to live in the "land of the free", why are these few people able to literally strip us of our freedom through legalized theft?

@9skyman945

2 жыл бұрын

All of these economically-foolish short-term-thinking business/political dealings for the top 1% will cause ruin for all.

@ComradeSulomon

2 жыл бұрын

Economics Explained said wealth inequality isn't a big deal economically but I don't know.

@free22

2 жыл бұрын

If we continue this route, we are going to end up living like many developing countries where a few have money and the majority struggle to support themselves.

Imagine doing a whole video on wealth inequality and never mentioning The Fed.

Wealth is not a Security, Real Estate or Rarity. It's the ABILITY to identify value - then compound it.

How Robert Reich spiraled out of control and became a nutball

Very well said! Thank you for all you do for us regular folks. Now we just have to "splain it" to unwilling minds and ears .Thanks amillion.

@practicaliching2311

Жыл бұрын

When during the Trump administration the 1/5th of wage earners had their incomes rise the fastest of all groups. That was the first time that had happened since the George W Bush administration. Because both Trump and W. used Kennedy's theory of using lower taxes, less immigration, deregulation, and smaller government to tighten up the labor market. Which raises wages, allows mobility, allows for advancement, and gives people dignity. Compare that to the Democrat policies of using high taxes, over regulation, open immigration, and big government to put permanent slack into the labor market. Which drives down wages and drives up housing prices at the same time, to the point tens of millions of people don't have any money left over at the end of the month. And it's the low wages at the bottom that allows the excesses at the top, causing the wealth gap. Raising the bottom 1/5th of wage earners wealth relative to everyone else is something liberals will never be able to do because of their policies. If Reich actually cared about working class people, Reich would be a Kennedy Reagan conservative.

@MsHeartIsArt

Жыл бұрын

Splain it? Why did you say it like that?

@ChrisBrengel

10 ай бұрын

"Lucy, you've got some splaining to do!" - Classic line from the TV show. I Love Lucy.

@frankmorris4790

7 ай бұрын

So s Susan , You enjoy being s tool? So splain it to me Puddin' What have the Gimmedats done that makes you think they give a rip about 'regular folks?

@SipLeila

4 ай бұрын

Work harder. No one is holding you down but yourself. And try working for welfare - you will get sick to your stomach watching the poor who do nothing get big fat checks.

It all started with Reaganomics, also the huge divide between parties.

@johnmartin4641

2 жыл бұрын

Reagan wasn’t president in 1978, which is when Robert said this started. Jimmy Carter was president. That’s why Reagan was able to beat Carter so easily in 1980.

@RobinHerzig

2 жыл бұрын

Bingo!

@RobinHerzig

2 жыл бұрын

@@johnmartin4641 Carter did begin to bring neoliberalism, but Reagan super-sized it + put it on steroids

@pmscalisi

2 жыл бұрын

@ADHD Insane Asylum in 1 AD scientists thought the world was flat.

@johnmartin4641

2 жыл бұрын

@@RobinHerzig neoliberals are more moderate than Carter. Carter had a 70% tax rate. There’s nothing moderate about that. That’s what the progressive caucus is calling for today.

Wealth inequality is not created or controlled. Wealth always follows the Pareto Distribution regardless of the Nation or the Socio Economic System. The bigger the economy, the bigger the wealth gap as depicted by the Pareto Distribution. It is only logical that the USA has the largest wealth inequality because it also has the largest economy. A growing wealth inequality is not only normal, it is desirable as it indicates a growing economy. Under the Pareto Distribution curve, a bigger economy means a bigger difference between the top 10 percent and the bottom 10 percent but it also means more wealth distributed among the people in the middle. Ideally, and infinite wealth gap will conduce to infinite wealth for the middle. So what we need to do is stimulate the economy and let the wealth distribution be what it is. Let the difference grow as much as possible. And with that we will all be better off.

@ariss3304

7 ай бұрын

You think you're onto something but you're not. The Pareto principle is bullshit. It's just an observation of hierarchies, it does not justify their existence nor explain how the distribution should look. The middle class is correlated to union density in every country. That is what America has done wrong.

Robert Reich is a very rich man by most standards.

These economic concepts should be taught in every school, even to the very young.

@ThePanMan11

2 жыл бұрын

Aaaaand conservatives screeching about critical wealth theory in 3.... 2.... 1....

@gayealisir5661

Жыл бұрын

@@ThePanMan11 lol true

@ronaldreagan-ik6hz

Жыл бұрын

Robert can’t do economics

" There is no greater misfortune than greed." - Lao Tzu

@klachingmacgaming8400

2 жыл бұрын

a normal guy could avoid paying taxes

@James-he7bu

2 жыл бұрын

They seen pretty fortunate to me.

@ronaldreagan-ik6hz

9 ай бұрын

Wrong. We all have personal greed. Greed drives achievement

Grow the pie, grow the pie! We've grown the pie enormously over the years, and productivity is the highest it has ever been. We have 100 people who help make the pie & 100 very large pieces of pie. The first guy walks in & takes 90 slices. The next guy takes 9 slices. They are not job creators, they're just stock or bond holders. The rest is just crumbs for the remaining 98 people. Within such a system, no matter how big you grow the pie, it won't work. The math doesn't work.

I hate the lesson here on Capital Gains for estate because the money used to purchase those assets were bought with after tax dollars. Imagine being taxed and barely having enough left to buy a house and you can't leave it to your kids because the government is going to tax the asset when you sign it over to your children. Taxing a man's inheritance is just morally wrong, especially when considering everything was purchased with money that has already been taxed.

@ronaldreagan-ik6hz

11 ай бұрын

That’s why I vote Republican

What Roosevelt accomplished was vital and extremely impressive considering the power of the opposition he had to overcome How can today’s Americans hope for anything remotely similar in this moment, when the power of wealthy opposition has increased so dramatically, and corporate media has indoctrinated millions of low income Americans to fight ferociously for the perpetuation of their own oppression, professor ?

@kappadarwin9476

2 жыл бұрын

A lot did it by making it racial based. "How dare those "poor" people demand socialist programs. That means my taxes will go up. I do not want to pay for another person's healthcare" By perpetuating racial and class warfare they are able to keep taxes low by manipulating the population into believing that they would suffer from tax increases. The Filibusters also helps reaffirm minority by making it difficult to pass meaningful bills because you have to get 60 senators to agree and that's nearly impossible. But there is a solution and that is the midterms. Americans have to increase the threshold by three to make Manchin and Simena's veto power pointless and then that would allow Biden to pass bills, making Americans especially those who aren't politically suave to see actual results and those actual results will being people over.

@sirmclovin9184

2 жыл бұрын

Don't worry, Joe Biden is gonna solve it.

@theforbiddenpotato8032

2 жыл бұрын

@@sirmclovin9184 he has 3 years left I'm scared

@thinktransnational

2 жыл бұрын

Greatest con of all time

@forestrussell-yount1355

2 жыл бұрын

Extend taxes ruined America cause idiots wanted free stuff

This is sound information and it infuriates me that my value as a wage earner decreases every year to the point where I am always working two or three jobs and looking for other ways to earn money. Unfortunately, the wealthy apologists who are among us believe that the wealthy pay more than their fair share. It’s going to take real starvation with a side order of cannibalism before they get it.

@loturzelrestaurant

Жыл бұрын

Stop Getting Used. Start watching 'Second Thought', starting with his videos 'America Compared' and such.

I love the idea of this video and I think its on the right tract. But it still falls fallacy to common tropes that still disproportionately tax the less wealthy people. I cant remember all examples but ill share the ones I do. Feel free to discuss or reply to me! 1. Why is the focus on increased generational wealth tax for "up to 22 million dollars". Many people do have 3-4 kids if they are that wealthy... 5 or so million dollars per kid isnt really the problem with wealth inequality. That 22 million dollar line should be the bottom side of wealth taxes, and property proportions should benconsidered. As an estimation its about 5,500,000 per kid before tax. Then they lose money on the sale of said properties and many other costs associated with seeing that wealth. When you add in all those factors and a 30% tax you basicall end up with like 2.5 million dollars per kid. Okay, those people are not the ones taking resources or wealth from other people. If they invested in the stock market theyd get a safe 70-130k per year before tax. They would at best live a middle class life eithout work and upper middle class if they do work. They are still basically working class. So anything under 5-10 million dollars should definitely not be hiked too high. Thennyou stopped at 22 million when literally the inequality exponentially grows above that number. We need MASSIVE rate hikes as you approach 100 million, 1 billion, etc as the actual wealth inequality really sits there. Every 10 million is literally another 2x the 5 million guy. Oh and why are taxes so high at 500k still? Thats basically working class and successful investment/business combination for many many of those people. The tax bracket should not stop at 500k... Thats literally the most regressive system i could imagine. It would be more fair to just leave out taxes up to 500k or almost the same to just tax evenly all the way afross. Because there are levels that are super important. 100k is a decent comfortable wage now in the US. 500k is 5x that but its just enough for extra luxury and investment that is risky and rewarding. 1 million is twice 500k and is approaching the point of no longer working class with proportional respectable contribution. Also, the stock market is the real fucking problem. Mostbwealthy people and politicians just compound their monry through stocks. Those stocks basically tax US citizens. Every year they can buy up a higher proportion of stocks and steal money from US citizens without contributing a godamn thing. So MOST of these super wealthy people maybe had one good invention but then just monopolized the stock market. So each generation the stock market essentially forcea more wealth inequality. These corportations were not created or ran by these wealthy people in many many cases (Elon and Gates kinda exceptions). These conpanies work off the backs of hardworking americand. There should be a "hypothetical limit" of stock ownership/income for people that didnt actually contribute to the company for their shares. There should be an exponential tax on stock ownership where stocks are taken by the government. Stock values going down wouldnt be a bad thing. Those companies make profits independent of stock value/ownership. So rich people would sell off to avoid higher taxes and the government or poor people could buy them up. The less stock you have the easier it is for purchasing it to make sense and be "cheaper". Then the government uses its shares to fund different programs and services or to invest into more stocks. Corporations already tax us and always will, and government ownership does not affect how they are ran. Private people would still own stocks and it would be ran by capitolism. Then rich people couldnt HIDE their wealth and MULTIPLY it without actually competing or taking risks. The real issue is the stock market makes rich people sit on money just to steal amd tax working americans. The rich should be forced to compete to get higher wealth. There can be a secure and tax free/low tax amount of investing allowed, but it should only be on a level for middle/upper middle class. We should tax to discourage anyone abusing the system with more money than what a low upper class person would do. We also need penatlies and taxes for homes that arent being lived in or sold for 3-6 months. We can exclude one home per person as well as any specialty/vacation homes (which could option to airbnb or something). Then rich corporations cant inflate hpusing prices by sitting on family homes that were just built so the prices go up. We dont let oil companies do that.

it did not spiral "out of control." The OWNERS are in FULL CONTROL.

we need a separation of industry and state. stop letting corporations make the law or fund politics. and just get rid of lobbyists all together. sure, it'd mean we couldn't tax companies, but it's not like they're paying taxes now. this way, they wouldn't get representation.. and the only thing the govt. would have left to represent is (gasp) the citizens.

I am a college drop out. I did manual labor for 45 years. I drove beat up pickup trucks until they had no value. I gave up tobacco, alcohol, and partying. I stayed with my first wife and planned my family. With money I saved, I bought real estate and stocks. My wife and I are now worth over 6 million. He left out the fact that in our society, wealth is a choice between working hard and saving or pissing your money away.

@csilver7405

2 жыл бұрын

We are roughly in the same boat. Wealth is not a zero sum game, it's transitory. The system is in fact rigged, but the rig is to help us build wealth! Live conservatively, max out ROTH's, buy property, and a few decades later, you can to be wealthy.

@sunfeatherX3

2 жыл бұрын

So suffer for your whole life until you are so old you can’t use your wealth in a beneficial manner. No thanks. I’d like to have a nice quality of life while I can still get out of bed in the morning without throwing my back out.

@csilver7405

2 жыл бұрын

@@sunfeatherX3 Either way you'll be old.. You can either be old with wealth or old and poor. Take care of your health, and you'll be wealthy with health. The choice is yours.

@9921yourwong

2 жыл бұрын

@@sunfeatherX3 Thank you for your reply. I am an athlete (surf, run very long distance) and a grandpaw. My back is fine. I have always thought hard work makes you stronger, it is not a punishment or makes you suffer.

@9921yourwong

2 жыл бұрын

@@csilver7405 I like your description of living conservatively. A person can be liberal/progressive yet live conservatively.

We would *_LOVE_* to see this guy discuss the *Pareto Principle* with Jordan Peterson!

@ronaldreagan-ik6hz

11 ай бұрын

No kidding!!!

Just make it so that only x amount of dollars can be passed on. The rest gets distributed or goes to charities

I have wealth. I earned below average wages my entire working life. I knew I couldn't afford to waste a thing if I didn't want to exist as a wage slave ending up with nothing. So I hung on to every bit of money I could. I started by eroding my debts and then channelled as much as I could into assets. Forty years later I've escaped. My time is now 100% my own. Liberation.

@silentbob7959

2 жыл бұрын

You were lucky. You had 40 years to make that effort. My generation is looking at not having a livable planet in 40 years.

@tropics8407

2 жыл бұрын

I did the same. Did not blow it. Saved it. Invested it. Worked my way up, saving and investing all the way. Take a page from the rich. Most of them were once poor.

@Ziegfried82

2 жыл бұрын

@@silentbob7959 they told me to planet would be uninhabitable by the year 2010 when I was a child in school. Believe what they tell you at your own risk.

@douglasbrittain7018

2 жыл бұрын

I would love to hear a debate between the guy in the video and David Ramsey. Would be very interesting. I’m sure Dave Ramsey would win hands down.

@shun2240

2 жыл бұрын

@@silentbob7959 doom and gloom everywhere

Hi Professor, Have you interviewed and had a discussion about this with professor Richard Wolff from democracy at work? Would love to hear your thoughts on the stuff he talks about. Thanks.

@atticstattic

2 жыл бұрын

They've debated capitalism - Reich believes in it, Wolff wants it to go away... They agree on quite a lot and have referenced each other on the internet; Reich believes: with strong regulation, Capitalism can work for everyone. Wolff believes that Capitalism's problems are inherent in its structure, so 'saving' it is a fool's errand.

Okay, the implication is that wealth accumulation (or at least, at some point) is an anathema to Mr. Reich, but what was unclear in this was the, "so what..." Does wealth accumulation (particularly dynastic wealth that appears to be the boogeyman in this segment) take food off my grandkids table, does it stifle job creation, does it lower the hourly wages of us folks who get paid that way -- or is it that "aristocracy is bad..." Raw numbers wise, this is interesting and doubtlessly provable by the balance sheets and IRS records, but incomplete, thus disappointingly unconvincing... unless one is just looking for a philosophical flag to run up a flagpole...

@ronaldreagan-ik6hz

10 ай бұрын

Perfect said!!!!

This video is a bowl of hand-picked cherries! Carefully worded, but definitely one-sided.

The Netherlands, I heard, has a clever way of closing the loopholes even for wealth that's held by their citizens regardless of where it's located. To me, this would make more sense than a wealth tax. The "Money and Macro" channel talks about it.

@ronaldreagan-ik6hz

10 ай бұрын

How about you focus on making your own money rather than how to steal it from someone else? Jesus. Leftist fools.

I've just recently discovered this channel. I'm going to subscribe because I find these short educational videos are great for helping me to explain things more succinctly!

@practicaliching2311

Жыл бұрын

When during the Trump administration the 1/5th of wage earners had their incomes rise the fastest of all groups. That was the first time that had happened since the George W Bush administration. Because both Trump and W. used Kennedy's theory of using lower taxes, less immigration, deregulation, and smaller government to tighten up the labor market. Which raises wages, allows mobility, allows for advancement, and gives people dignity. Compare that to the Democrat policies of using high taxes, over regulation, open immigration, and big government to put permanent slack into the labor market. Which drives down wages and drives up housing prices at the same time, to the point tens of millions of people don't have any money left over at the end of the month. And it's the low wages at the bottom that allows the excesses at the top, causing the wealth gap. Raising the bottom 1/5th of wage earners wealth relative to everyone else is something liberals will never be able to do because of their policies. If Reich actually cared about working class people, Reich would be a Kennedy Reagan conservative.

@ronaldreagan-ik6hz

Жыл бұрын

Lol. Robert e Reich is a lying fool

Well said.

What's driving me crazy is that most Americans are not incensed by this! The standard of living for Americans is such that 60% now live paycheck to paycheck

SAVE YOUR MONEY AND INVESTING IT INTO STOCK MARKET WILL BE THE WISEST THING TO DO TO ENSURE SUCCESS.

@mr-paulinegraf4755

2 жыл бұрын

The pandemic has taught everyone the importance of having multiple streams of income,unfortunately having a nice paying job don't mean you are financially free if secured.

@Marine40

2 жыл бұрын

investments is that tiny line that separates the rich and the poor.the words from other.i can proudly say I am a wise woman to because I can provide for my family through my investments.

@ericbryan6592

2 жыл бұрын

She's not like other brokers that will start telling you stories and excuses why the trade didn't go well after collecting your money

@marshallwalters2100

2 жыл бұрын

how does your profession helps you makes a lot of money?

@scottjames4074

2 жыл бұрын

just checked Brenda Adams profit at the IAPD her license and certification are insane .I'm definitely contacting her.

Great way of condensing complicated topics into short videos!

To be honest, if you or I were rich we would probably be like these guys.

Wealth inequality is robustly correlated with violence/crime; CRS Coefficient.