Except all the tax cuts aren't equivalent. Supply side tax plans always give huge cuts to the upper brackets and small cuts for the lower brackets. The cuts for the rest of us are just a bone that we are being thrown.

@davidlafleche1142

6 жыл бұрын

That's because the "rich" pay most of the taxes.

@jeffc5974

6 жыл бұрын

m. rude I think you meant to say the people who are benefitting from my labor.

@jeffc5974

6 жыл бұрын

Businesses don't hire people out of the goodness of their hearts, they do it because they can make more money with that person (even considering salary, benefits, etc) than without them.

@frankieaddiego5962

2 ай бұрын

@@jeffc5974yes and if we handed all the power to the government, they aren’t just going to give people money or jobs out of the goodness of their hearts either. Nor are businesses going to start giving people more money or benefits out of the kindness of their hearts if we tax or regulate them more.

@frankieaddiego5962

2 ай бұрын

That’s because 1% of $1,000,000 is going to be a lot more than 1% of $30,000. Please, show me how exactly you would go about lowering taxes for the working class without it being “a bone,” even if you don’t cut the higher tax brackets.

To print new money is not the same thing as giving a bigger part of the existing amount of money to the poorer people !

@janeryan2709

5 жыл бұрын

Exactly. He's acting like printing money would not be costly in itself LOL. What an idiot.

@LegalAutomation

2 жыл бұрын

If you think poor people make better long-term financial investments than the people you took the money from then I have a shiny bridge to sell you.

@daviebananas1735

2 жыл бұрын

@@LegalAutomation it’s not about making financial investments, it’s about having money to buy food and pay for rent etc.

This is why corporations are so greedy, because the CEO's are taught by complete idiots like this guy. He makes claims, and when you ask why those claims are true and yours are false, he never actually gives an answer, he just brushes it off and assumes he is right. He never answered how a free market healthcare system is the best, he just states that it is. People like this are only interested in making money, nothing else.

@yam83

6 жыл бұрын

Budred123 They're mesmerized by the Gospel of The Free Market. You have to take it a priori that The Free Market is the answer to all problems.

@rickbonamassa3045

6 жыл бұрын

Budred123 yes you said what I was trying to said

@njeddie4488

6 жыл бұрын

Arguments against free markets are, at their root, simply arguments against freedom, itself. (Paraphrase of M. Friedman, Nobel laureate in economics)

@bethbartlett5692

6 жыл бұрын

Budred123 Ego - personal desire to Dominate

I am more libertarian than anything but I watch your show David because I had echo chambers and you're very respectful to people you disagree with and educate me on the other side. Much respect!

@bargdaffy1535

Жыл бұрын

🤣🤣🤣🤣🤣You could have stopped at "I am a libertarian" and we all would have understood.

@Youtoober6947

11 ай бұрын

@@bargdaffy1535replying like a donkey to a 2 year old comment is crazy

End occupational Licensing? Would you really want food prepared by unlicensed personnel? After dying from Listeria poisoning, my family will *not* be comforted by the fact that the "invisible hand" of the market will bankrupt that restaurant.

@aaronmcmillen8140

5 жыл бұрын

Did you know that not every state has a licensing program for cooking food? And there is not a rise in food borne illness in those states. Now a Dr not being licensed is much more dangerous. Think about it, people cook every day at home without being licensed, would you do heart surgery on your neighbor though? No, you wouldn't, because it requires a much different kind of training. Anyone can cook, not everyone can be a Dr.

@ndaemon1718

5 жыл бұрын

@@aaronmcmillen8140 basically.. the food thing... can be solved by having a working agency that keep check on food sellers and give them advice on how to handle contamination better etc. Usa probably has one, but i suspect it could use some updating :)

@rachelgarber1423

5 жыл бұрын

Ikr, and that played out right here in Philly where a man died from eating tainted meat. I'd give the rest of the details, but it's been more than 20 yrs, but I do recall that it was said he voted for someone who was all about deregulation, including in the meat industry.

@IIIMajesty

5 жыл бұрын

If qualification is desired, customers will demand it. There's no justification for government intervention in this case.

@ndaemon1718

5 жыл бұрын

@@IIIMajesty idisagree. you cannot, and i stress, you cannot trust business. As long as the option to decieve and be fraudulent is so much more tasty then giving people what they ask for, thats what they will do. Business owners are not our friends by any stretch of the imagination and cannot be trusted to have our best interests at heart. Government agencies are by their very nature heavyhanded and clumsy, but they do come with the backing of the power said government has. Business people in all sizes need that tiny little fear in them that a cell mate named bubba will be their lover if they dont behave. :)

End occupational licensing? I've always wanted to be a pilot and a doctor without having to go to school.

@TomasOBrien

6 жыл бұрын

The theory is that if you don't have the education that you will develop a reputation of being a bad pilot or a bad doctor and the market will at some point exclude you from those activities because doctors and pilots with the proper training and education will get all of the business. There are free market solutions that guarantee (within reason) that an individual has the correct competency to perform a service. There are professional associations that offer certification and even publish industry best practices. When a University issues a diploma they certify that you have studied a curriculum that enables you to perform to a certain level of competency in a given field. I think that its perfectally okay for stefan to be a doctor without a license, but when i don't get better, ill hire another doctor, and gladly pay him more money for fixing his screw-up. You get what you pay for.

@IIIMajesty

6 жыл бұрын

Companies that do the hiring will surely not let you take the job willy nilly.

@zvxcvxcz

6 жыл бұрын

+Tomas O'Brien Bullshit, most people don't know what makes for a good doctor. You will go to the bad doctor with a cold (viral), he will give you anti-biotics and you get better (because you were going to get better anyway) and you think he cured you. Having lived in places with less rigorous training for doctors I've seen this bullshit all the time, from doctors with great local reputations. Also, you think everything the 1st doctor does to you even can be fixed by the 2nd? The 1st doctor could easily have done something that kills you, paying the 2nd guy more is a laughable solution. And for flying.... so you want 9/11 2.0 to be super easy for them to plan do you? Or you could get the same effect as 9/11 simply from people mistakes. Your point about universities, take another step back, you do realize that university programs require accreditation don't you? From the government you dullard. Sure, they can run the program without it, but the degree is often pretty useless then. I know people that have gotten fucked over by this by doing a new program at a school, it was still in the process of accreditation and they received their degree before accreditation was granted. It was a hell of back and forth paperwork for their graduate school to accept that degree.

@allanrichardson1468

6 жыл бұрын

The Jethro Bodine approach to selecting a career! Buy a fancy sports car and put in an ejection seat, and poof! You’re a “double nought spy!”

@kellyfowler6426

6 жыл бұрын

Unless you are dead or too broke to pay another doctor.

One rich guy told me, if the government gives me a tax break and i have a million dollars extra this year, im depositing it into my savings account and im defenatly not hiring anybody or giving anybody a raise

@xkurly9874

5 жыл бұрын

The money sits in his savings account, and gets loaned out at a lower interest rates which in turn encourages more people to borrow to fund their business ideas which creates growth and jobs! Very good point

@abdullahiahmed3425

5 жыл бұрын

@@xkurly9874 yea but most people are not entrepreneurs and have no time for that, they are wage workers struggling to pay their bills

@xkurly9874

5 жыл бұрын

@Love Letter most people in 1st world nations are not struggling to pay their bills and have a good standard of living. The faster wealth is created, the more prosperous a country becomes.

@brandonm949

5 жыл бұрын

@@xkurly9874 Which is why upward mobility in the U.S. has been dropping since 1970?

I love it when there is someone who's politics I might not completely agree with but who's personality I like...this was a pleasent guest..

Trickle down is not a valid theory. It's a Will Rogers joke. That's no joke.

@greenmarine500

3 жыл бұрын

I’ve found people that have been coining the term before 1900. It’s a lie and a boogie man for supply side economics.

@danielwoulfe4280

3 жыл бұрын

Do elaborate

@MotoFeeder

2 жыл бұрын

@@greenmarine500 I believe you misunderstand Supply Side economics. It simply states you must produce something to trade for the money you receive. In the absence of money, if you want eggs from the farmer, you must produce something first, like a pair of socks, and arrive with them to trade for those eggs; you're "buying" eggs with socks. Money is just an intermediary, but it does not alter this underlying fundamental aspect of exchange. In other words, to create "demand" you must first "supply" something to trade. Demand Side economics states, no, to create demand you just need to give people money and send them out to buy stuff. The trouble is, in that act of "buying" they don't contribute anything to the pile of stuff (products & services), they just buy down the existing pile. This is what we're experiencing now from government's COVID economic response. The unemployed bakery worker is buying meat at the store without providing bread to sell, and the butcher vice versa. The "trickle down" aspect of Supply Side occurs when the suppliers hire workers to produce stuff to trade. They get paid for providing a "service", i.e. trading their labor, to the supplier who we then call an "employer." But without the employer first, the "employee" never gets paid.

@bbigjohnson069

2 жыл бұрын

Such a theory does not, nor ever has, existed. As economist Thomas Sowell noted in his book Basic Economics, "'Trickle down' has been a characterization and rejection of what somebody else supposedly believed.". But "no recognized economist of any school of thought has ever had any such theory or made any such proposal.

Nice debate guys. I can see where the libertarian is coming from in wanting a pure free market health system but when it comes to health and staying alive money and savings are not the drivers for most. Most people would pay or give up almost anything to get healthy or stay alive...and to keep a love one like a son or daughter alive a lot of people would sacrifice their lives if that's what it takes. You can't tie that kind of desperation to a profit motivated industry. We also recognize that on a certain level. that is why there ant gauging laws during national disasters in parts of this country

@njeddie4488

6 жыл бұрын

The same logic could be applied to food, and yet....

@svdumitrescu

6 жыл бұрын

The debate missed some main points or even got them wrong. They talked over and over about " value" and resources allocation in the health-care system, as of money and profit, but health is not a merchandise, so the real value is NOT for the profit-oriented business, bur for the state and society as a whole, to have a healthy, strong and productive population

@shayt3268

6 жыл бұрын

Great point. As for prior reply .... The market is far more consolidated in regards to healthcare. Your town may have 30 grocery stores and 1 hospital. The real high cost healthcare scenarios don't allow for "shopping around". You don't go broke going to the ED for a sore throats but if you actually need EMS your going to be slaughtered by the 1 hospital or 2 they take you to. Not to mention they are not going to ask where you want to go either lol. Lastly you should be aware you don't have a choice.....you will see when you get sick or your family does sadly.

@karenshaub8273

6 жыл бұрын

Arie Fraiser . Bravo. And yet that is exactly what is happening.

@jeffc5974

6 жыл бұрын

Shay Tinney even if you have multiple healthcare options, it is not practical or even possible in most cases, to shop around. You can't compare prices, because they won't tell you up front, and you have to have an office visit for each one you are considering, which no one has time to do.

Libertarians being libertariany. We have ways of determining where $ should go in healthcare. It's called research that he been done determining why we die earlier than we need to. Cut the defense budget and get rid of this free market competition bullshit regarding healthcare.

@titolovely8237

7 жыл бұрын

the idea that market forces show where resources should be allocated is lunacy. unless the society is equally wealthy, simple inputs of money within a market system doesnt tell you much of anything other than who has money and what they want. that's not the same thing as where resources should be allocated.

@Storywalker4

7 жыл бұрын

irishpugwtf The point the commenter is making is that the rich have disproportionately more money. Obviously. As such, resources that could be used for saving lives are instead put towards a wealthy woman's boob job.

@notaurusexcretus938

7 жыл бұрын

Oldman Jenkins a well payed work force is able to consume more services which allows for businesses and business goes were demand is lower wages equals less demand

@titolovely8237

7 жыл бұрын

***** wrong. if 1 person in a 100 person society has all the money, then the market tells you what that person wants, not what the society needs or where resources should be allocated. markets offer perfect liberty under conditions of perfect equality. this was adam smith's position, and it is mine as well. adopting market systems in a highly unequal society is a recipe for tyranny, not liberty. if you want liberty in a market society that is very unequal, you must either interfere in markets, or redistribute the wealth more equitably.

@titolovely8237

7 жыл бұрын

***** the same principle applies to a society where 10% of people own 90% of the wealth. adopting a purely market driven system, free from government distortions, in such an unequal society will result in tyranny. adam smith understood this. marx understood this. you should understand this, otherwise you risk, out of naivety, supporting a system of oligarchy. ultimately my point is that as a libertarian, you should oppose concentrations of power, be it economic or state, out of fear of those concentrations encroachments on liberty. as it stands now, you support one system of oppression, but oppose another, both on the same grounds, making you either a hypocrite or naive.

a major flaw in his argument comes from the "famines" that he cites, almost all of which werent caused by lack of food or lack of markets. take the famine in the ukraine under Stalinist russia. wheat exports actually increased as 11 million people were starving. it wasnt due to a lack of knowing where to allocate resources, but rather a distibution problem wherein the russian imperialists were using the ukraine as an export area to bring resources back to the homeland, similar to the way the US has used south and central america in the past. it's essentially like saying that if only we had removed the nazi's food distribution program for the concentration camps and allowed markets to work, then we could have saved 12 million jews. it's totally ludacrous, and wasnt really an economic issue, but a political one, as is the case with almost every famine in the modern era. when goldman sachs, one of the largest commodities trader in the world, buys up 30% of a countries harvest, and holds it until the price rises, is that market efficiency? how is it that socialist countries that have famines due to the inefficiencies of socialist bureaucracies get lambasted, yet the famines incurred by the third world due artificial increases in scarcity driven by market forces arent even mentioned? it is yet again, an example of blind libertarians, who naively believe that the western success is due to capitalist markets, not imperialism. there's always so much hypocrisy when talking to libertarians. on the one hand, they say that it's much more complicated than simply allocating enough food for people to eat, but on the other hand, they make vague references to situations that were far more complicated than they seem, as evidence that socialism doesnt work. it's a double standard. critique of capitalist markets is always "too broad and doesnt take into account the details of the situation", but critique of alternative solutions is always vague, extremely misleading examples of failure, propped up to elicit an emotional response so as to mislead the listener/reader into believing that socialism cant or doesnt work. that isnt to say socialism can work, but make a real argument against it, not this horseshit.

@aaronhoy3410

7 жыл бұрын

+Bernise Anders This is so true, but idk why +irishpugwtf said what he siad, if it was a joke or what. I would also just add that they do the same thing in reverse as well (i.e. misleading or ignoring the socialist-type things done in capitalist economies such as the bailouts when huge institutions fail and also all the publicly funded and guided research where 99% of all the innovation and technology comes from.)

@aaronhoy3410

7 жыл бұрын

***** Well I'm not really sure how that equates into calling Americans racist, but also I believe that what he said was pretty obvious and objectively true. At the very least it is obvious and objectively true that western imperialism is the major factor as to why non-western countries (and Japan,) are not developed. I mean it isn't a coincidence that the countries who developed were western Europe and the 1 country that won independence from them (United States of America,) and the 1 country not conquered (Japan). I mean the British didn't just prevent India from developing they actually de-developed them.

@titolovely8237

7 жыл бұрын

***** it's not racism, it's state domination. rome wasnt rome because they were really good at business, or adopted the correct economic policies. they were rome because they forced other societies to allocate resources towards rome. the last 1000 years of western history is basically the same thing. the resources of the world flow to the west, and have for the last 1000 years. it isnt racist to point out that the last 80 years of US history has consisted mostly of the US attempting to maintain a world order that keeps resources flowing to the west, mainly the US and britain. in fact race has almost nothing to do with it. the US bombs brown people just as easily as they do yellow or red or white people. the same goes for the british 200 years ago, the french before them, the spanish before them, the dutch and portugese before them, rome before them, and the greeks before them. it's about resources, and who controls them.

@titolovely8237

7 жыл бұрын

***** you're projecting your opinions of others onto my argument. i never said anything about race. this isnt about race. countries in africa would do what we're doing to african countries if they could. they cant, so they dont. we can so we do. the obligation of the moral citizen, is to limit the damage of a state's actions to other state's. that applies to others in other countries as well. i oppose war crimes, because they're crimes. it matters not what color the people were who committed them, or suffered their repercussions.

@AllanHytowitz

7 жыл бұрын

Western economic success has happened in SPITE of Capitalism. The manipulators of the economy have the same predatory mentality as Ghengis Khan. Financial growth has come from areas outside of their control and is through symbiotic economics and the increased information content of goods. www.dyop.info/documents/Pilzer-Unlimited%20Wealth.pdf

Trickle down is complete nonsense.

@njeddie4488

6 жыл бұрын

A rising tide lifts all boats.

@L98fiero

6 жыл бұрын

The problem is though, that Trickle Down/Supply Side economics lowers the water level by raising the largest boats.

@davidlafleche1142

6 жыл бұрын

Okay, then. Exactly how much should "rich" people be taxed? And how would a tax increase bolster the economy?

@L98fiero

6 жыл бұрын

It isn't so much a tax increase as realigning who pays the taxes, the rich gain the most and pay the least as a percentage of their income and yet the poor and middle class pay a much higher percentage and get less benefit. When the poor and middle class get to keep more of their income or even, as in the case of very poor people, they spend nearly every penny they have, if it's only that they get to buy $10 more groceries each week that means that with all the poor spending their extra $10 new people are hired at the grocery store who can now buy food from a different store which needs to hire more people who can afford to buy a car and then the city needs to improve the roads so Caterpillar sells heavy equipment to contractor who hire people to build the roads. The alternative is the current system where each middle class worker has $20 taken out of his pocket to make up for the money spent buying stock or put in offshore accounts by the wealthy from the taxes they didn't have to pay. And that's just the short version as there are many more benefits.

@davidlafleche1142

6 жыл бұрын

Liar. The "rich" pay far more tax than the "poor"...some of whom pay NO taxes, yet still get a "return." The only solution is a flat rate for all income levels. I am a Working Class person, and I think the "rich" pay too much as it is. The Government should cut spending.

I wish everyone could stop buying...so when they make their crap it stays on the shelves and rot... then they can see how important consumerism is to them...it seems his views are lopsided

@BarrySlisk

7 жыл бұрын

I'm sure all their employees would love to lose their jobs. Good plan Einstein.

@biocapsule7311

7 жыл бұрын

Consumer base economy is eventually going to be obsolete anyway you put it. Unless we deliberately halt technological progress to maintain the status quo, it could be within 50 years. That has always been the trend of technological progress... convenience, which means the reduction of labour. And you will eventually reach a point where the populations excess labour needs beyond sustainability of current models. No amount of imaginary "new jobs" that free-market advocates like to pretend will magically exist is going to change that. It is already happening in several sector... and that will not stop. So unless one deliberately halt progress and at the same time made life and dignity cheap. The economic model have to change.

@BarrySlisk

7 жыл бұрын

BioCapsule This only means that we will work much less. Like a 10 hour work week. Can't wait.

@janeryan2709

5 жыл бұрын

@@BarrySlisk But that's the point. The system would completely fall apart if consumerism lowered. That's exactly the point. Consumerism is what drives everything.

@jamesmorton7881

3 жыл бұрын

we can not buy your crap, lower prices or increase wages

A completely free market has already been tried, it's called the "gilded age", and it worked out about as well as the bolshevik revolution. So no, thank you

@jackalenterprisesofohio

2 жыл бұрын

Well I mean...it did get us here.... I support feudalism myself

The notion of scarcity in the health care field and in food supply is absolutely absurd. Completely not based in reality.

@cpuwrite

4 жыл бұрын

It's artificial, but it's scarcity. It's what you get when you try to take good ol' libertaritard guru Ludwig von Mises up on his prognostication that price is the best way to regulate supply. You know, little things like having tens of thousands of homeless even though there's enough vacent housing for every one of them with space left over; like people starving while there's enough surpluses food to feed China for a year and people throwing the stuff away. That's what it's like when everything revolves around money.

@hamishcounsell5579

4 жыл бұрын

@@cpuwrite A good economic theory focuses on an explanation not a prediction. The Austrians and i will give credit where credit is due that the post keynesians/ mmt people do this very well. They will explain their theories very well on how the working economy works. As for just giving vacant housing to people who so call deserve it... it doesnt work and has never worked. Rent control was a disaster when it was implemented and now if we look at a state like Califonia rent control and many other regulations have increased homelessness not decreased. You need money and a profit signal to produce what needs to be produced.

@cpuwrite

4 жыл бұрын

@@hamishcounsell5579 I never suggested that the solution to the twin problems of massive homelessness and vacant housing was to just give housing away. I agree with you that there has to be some self-balancing mechanism.

@draneym2003

2 жыл бұрын

When there's not enough doctors to go around because no one can afford to go to medical school and the payoff isn't good enough for all the effort to become a doctor you'll think differently

Every time I hear someone say social democratic ideas "can't work" I never seem to hear a solid reason. For one thing there's never a solid rebuttal of why it works so well in all the Netherlands and Canada, or an explanation for why when it was working pretty well in the UK with two of its major institutions, healthcare and train transit, both institutions took a huge nosedive in efficiency, quality of service, and sustainable pricing once they started allowing aspects of it to be privatized. They always seem to reply with "well it's all nice and well to think everything would ""just magically work out"" but it's more complicated than people think" and then someone says "magic has nothing to do with it, we would redistribute wealth with these kinds of tax laws, we would ensure workers get paid enough to be consumers by passing these regulations, we'd prevent abuse of the system with these laws," etc etc explaining what sounds to me like totally reasonable and well-thought out logistical plans of how to actually execute the goal and they just repeat "well it'd be nice to think it's that easy but it's not". That sort of dismissal without a point by point explanation of WHY those logistics wouldn't work or what SPECIFIC problems could arise, really looks like they want to avoid helping people think of any potential solutions to those problems by avoiding talking about them in depth, and that sort of "you wouldn't understand so it's not worth telling you why it would be a problem" could only be more condescending if they patted your head while saying it. Every time I hear it, I can't help feeling like here's a big "but" that they really want to avoid talking about. They never want to get to the part where they have to say redistributing wealth means taking it from the people who have wealth and that means there will be resistance, and they don't want to talk about those scenarios, because that steps outside of just economics into the contentious territory of real world interactions among real people. I can understand the fearfulness of talking about that stuff, it scares me to think about it and talk about it too. But I wish they would just admit that's why they actually think it "won't work" and say they don't want to talk about people fighting each other over money, rather than try to pretend there's just some "magical" forcefield keeping social democracy from functioning in the US when it works so well in other countries.

@cpuwrite

4 жыл бұрын

What gets me is that they say that "redistributing wealth" is bad because the government is giving wealth to people who don't work for it, but they never say a word about things like rent, interest or dividends (you know, those things that are referred to at tax time as "unearned income"). To the people who make that bullshit argument, I have a challenge: convince me that Jeff Bezos works for every penny of the billions of dollars he makes. Convince me that the Koch Brothers work for every penny of the money they spend buying off the law. They try to treat government and private business as if they're irrevocably separate, but actually they're both institutions of power, and thus cut from the same cloth. And they'll keep repeating their bullshit about it until hell freezes over no matter how many times their arguments are debunked.

@amosbrazeau5272

2 жыл бұрын

Read Basic economics by thomas sowell

@a.williams1945

10 ай бұрын

Wealth isn't distributed, it's earned

@theintrovertedaspie9095

6 ай бұрын

@@a.williams1945 Its not always earnable. Some people don't get what they earn.

This mans says that if you eliminate the profit incentive from healthcare the industry won't know how to innovate and allocate resources, then he says multiple times David is simplifying things. Healthcare research and innovation should not be based on profit motives but rather science and rational thought of what provides the most possible care which is not inherently the most profitable. Just because this guy has an economics degree does not mean he has some special qualification as to what the most efficient way to organize something.

@subscrieber2692

6 жыл бұрын

David Velevski I dont argue with that necessarily, that wasnt my point, we could have the best coverage and most profitable way to preform breast enlargement surgery in america while 45,000 people die from preventanle cause annually due to no coverage. Its more complicated then just profit

Health coverage should NOT be a for-profit enterprise! PERIOD! This a human right, something every human being needs. To make profit from people's ills is obscene!

Trickle down economics is also called the horse-and-sparrow theory: "If you feed the horse enough oats, some will pass through to the road for the sparrows."

@BarrySlisk

7 жыл бұрын

Hah :)

@skepticalpickle5258

6 жыл бұрын

Abnormal Wrench I for one am tired of eating shit.

@putinpuppet2063

5 жыл бұрын

So, what you're saying is: essentially it's HORSE SHIT.

@robertstan298

5 жыл бұрын

Eew :P

@sanmigueltv

3 жыл бұрын

There’s no such thing as trickle down economics. It’s called supply side economics.

The problem is it trickle down becomes financialization then all wealth goes to of shore tax havens

@ATMOSK1234

7 жыл бұрын

The idea that taxes need to be competitive is baffling.

@coopsnz1

6 жыл бұрын

Bingo Jean ., why jobs have left Australia decades

@njeddie4488

6 жыл бұрын

Please describe what you mean by "financialization".

@SkankHunt-hh8ex

6 жыл бұрын

Jean Luc Bergman we have low corporate tax rates you idiot.

@cpuwrite

5 жыл бұрын

Close, but it seldom makes it that far. Trickle down never becomes anything. It IS a lie used to cover up hoarding. Hoarding becomes buying off the law.

It's simplistic to think that there is a top-down government solution to every problem...says the guy who believes that deregulation is the solution to every problem.

@JonGreen91

5 жыл бұрын

Who has the authority to (peacefully) get rid of top-down gov't except for gov't?

the problem with trickle down economics is that you're hoping that the greediest people in america are not greedy...

Libertarians only deal in extremes and perfect markets. We are not all born with an equal chance in life. How will a free market equalise our life chances and maximise our potential? Libertarianism is ok for academics, not the real world.

@BarrySlisk

7 жыл бұрын

What is a perfect market?

@njeddie4488

6 жыл бұрын

"Perfect" is not a synonym for "fair".

@cpuwrite

5 жыл бұрын

@@BarrySlisk I can't tell you precisely what makes a PERFECT market, but I can tell you what a so-called Free Market needs to have in order to work: 1) Perfect competition. Buyers and/or sellers can't collude to manipulate prices. 2) Perfect depth of knowledge. EVERY buyer and EVERY seller has to know EVERYTHING about EVERY deal that they respectively take part in. No fraud or lies. Now do you know why I opine that a Free Market is an Impossible Theory?

@BarrySlisk

5 жыл бұрын

Define "work". And if free market do not work, what does work? Free only means without coercion. The market is still free even if people are not all knowing Gods. And it's still free even if price cartels exist.

@zemorph42

5 жыл бұрын

@@BarrySlisk "The market is still free if the people are not all knowing gods." Agreed, aside from the strawman; one doesn't need perfect knowledge of every aspect of a transaction to make an informed decision regarding it. "and its still free if price cartels exist" No. Just no. That leads to mergers, which leads to monopolies, which kill competition.

The guest seemed so reasonable until he said "eliminate the minimum wage." That is dangerous for the economic health of our society.

@dewaldt8104

3 жыл бұрын

No its not. If you make labour more expensive, people will use it less.

@zoluze3745

2 жыл бұрын

@@dewaldt8104 Look at US history. When there was no minimum wage, the country had the biggest income inequality in its history (even more than today). They created a minimum wage for a reason.

@dewaldt8104

2 жыл бұрын

@@zoluze3745 the reason why the minimum wage was created, was to make it more difficult for black workers to find a job.

It's getting tiring listening to libertarians say "there's no such thing as trickle down economics" as though that's an argument. It's clear in the context of a conversation what a person means by trickle down economics -- the idea that tax cuts that favor the rich will somehow jump start the economy in a way that will bring in more revenue than is lost by the tax cuts. It also usually means cutting social programs that provide a huge benefit for a large portion of the population, making the poor and working class noticeably worse off despite their meager tax cuts. It's not enough to cry "there's no such thing" when the ideas that are being defended are so incredibly flawed.

@titussnyder113

7 жыл бұрын

social programs? you mean govt. bureaucracies which do crap compared to private sector and keep poor people dependent on the state

@njeddie4488

6 жыл бұрын

What you are talking about is called "voo-doo" economics, and is NOT the same as "trickle-down". The best single-sentence description of trickle-down is "a rising tide lifts all boats".

@sabin97

6 жыл бұрын

except trickle down is NOT a rising tide, it's literally helping the rich, who in turn help themselves. a rising tide would be putting more money in the hands of the poor. that money would find its way up to the pockets of the rich, and actually create jobs in the process....THAT would be a rising tide....

@1969JohnnyM

6 жыл бұрын

So you don't believe in the Child Nutrition Program (CHIP), Medicaid, Food Stamps (SNAP), Children's Health Insurance Program, Social Security, Food Stamps, Housing Programs (HUD) which has programs within itself like Housing for Persons with Disabilities and other government programs to help physically disabled children and adults, mentally disabled children and adults in all sorts of ways and the programs to help poor people, the homeless, disease control, the unemployed and so on. This is what a modern society does but if you believe in a dog eat dog society, a non compassionate nation for those at the bottom that caters only for those who already have then its no wonder that in the near 40 years since the Reagan era when Social Programs began to get cut and more money was funnelled to the top the decades of increased social mobility were reversed and began their long 40 year reversal so much so that its levels are now becoming permanent and are worse than the medieval period. Under the New Deal America's middle class boomed as did the US economy but since then that's all been reversed so as for the top 10% to do well with the top 1% doing ridiculously extremely well at the expense of 90% of the population. Programs that help the poor, sick and needy is fair especially as its the policies of those who so want to cut them that lead to most of this poverty and misery. Go to other wealthy countries and they do not have cardboard box cities for the poor, they don't have housing not fit for animals, they do not have people who fear the medical bill or who go bankrupt due to medical treatment or prescription charges. Nor do they have an education system created to serve the children of the rich and those willing to risk years and years of crippling debt. Its obscene and a national embarrassment especially as we are talking about the richest nation on earth.

@Shickadelio4

6 жыл бұрын

John Maddin Exactly. People don't realize how many of these programs actually help people become contributing members of society through temporary assistance, as they were designed to - some of which actually require people to be contributing in the process of being on them by participating a minimum number of hours a week, depending on marriage status, like TANF. In my graduating class of nursing school, there were 5 of us who were on TANF & a CA Welfare to Work program (and at least all of us on Food Stamps). Programs like that change lives for people whose circumstances have changed for a myriad of reason. We all worked our asses off and are now enthusiastic tax payers (well, as enthusiastic as a tax payer can be, lol). I would tangent on the "welfare queen" trope but that is a whole other issue. Have a great New Year!

People with lower wages recirculate almost 100% of their money back into the economy, super rich will store larger sums of money in off shore accounts, not recirculating it into the economy. When people are able to spend on goods and services we get a more natural growth in businesses and stocks, in a more stable manner, unlike raising stocks artificially bloating them with buy backs instead of true economic growth, makes it more unstable and increases chances of more frequent crashes.

Capitalist health care in its ideal form: "Mr. Johnson, your wife is having a heart-attack. If you give us all your money, we can help her. You are however *completely free* to go get a quote for a chance of a more competitive price from other hospitals in the city, closest one is 30 minutes from here".

@taelorwatson9822

3 жыл бұрын

Well if you plan ahead and know her family history. You could look into a healthcare plan or a hospital that will cater to her needs at a lower price. In a ideal situation.

@Songfugel

3 жыл бұрын

​@@taelorwatson9822 Or, like in every other country. You need urgent help? you get help immediately no matter what is your financial situation, whatever is the best option to help you, and all of it mostly for no charge If you are completely broke to pay up the reasonable fees and taxes, well, you get the services for free and will receive additional financial and social help to get you back on the path of becoming a productive citizen Keeping people poor and unhealthy, is the best way to keep them there and outside of the job market, and often will spike up the crime rate, since people do have to eat and get shelter. So sadly, in those situations often crime is the only way forward if there aren't any other support nets cast by the system

This guy made sense until he said he didn't know what inflation was. After that he somehow turned into an angry libretardian.

@kabloosh699

5 жыл бұрын

the quickest way to invalidate your opinion is by trying to insult those with opposing viewpoints. Especially when you put the word "tard" in the derogatory remark.

@bbigjohnson069

2 жыл бұрын

@@kabloosh699 Ridiculing your opponent is what one does when they don't have facts to back up their argument. The audience will laugh and forget what was said. It's on old Communist tactic. 0bama was a master at it. Another one is just say your opponent is racist or racis.

08:48 "If you take the profit motive out of health care then you have no way of knowing what people *want* ." Yeah, because people *want* treatment rather than *having to rely on it in order to not die.*

@DigitalPadawan

3 жыл бұрын

it's also comical that profit has led to symptom treatments for sale rather health outcome

A lot of people are alerted at the insane notion of ending occupational licensing. Obviously, to be a pilot or sell food you need some license to work under safe conditions. I don't think we need to get rid of it but he could be saying it needs to be reduced. For example, I am a software engineering student. My professors have warned me about offering software and calling myself a software engineer after graduation. Even though I could have years of experience, it could be illegal since I am not a licensed professional. There are weird rules to apply to be licensed. Like, You have to have so many years of experience even though you were never licensed to do it. The organization that grants licenses is made of licensed professionals and they are incentivized to have less licenses around to make the most money since they would have the monopoly on calling themselves software engineers. There are ways around this like offering "technical services", but it certainly does not feel like a free market since I could get sued for saying "Software engineer looking for work".

An excellent debate! I really appreciate the way that you both remained open-minded and civil throughout.

I'm glad you're taking on differing opinions and openly debating ideas like this! Please continue to do this.

I love when Republicans try to give economic lectures call you economically illiterate, pretty ironic since most economists are registered Democrats

@scruffy1471

3 жыл бұрын

yeah but the democratic party is still center-right and pro-business, one is just more subtle about it

@Xenaphone1

3 жыл бұрын

I love it when democrats pretend like their party doesnt have their hands in the pockets of big corporations...lol

@Cutecumball

2 жыл бұрын

all the big corps are left leaning wtf are you talking about? Someone is being finest

@Mike01029

2 жыл бұрын

@@Cutecumball lol yeah that's why they fund think tanks to spew conservative propaganda

@Cutecumball

2 жыл бұрын

@@Mike01029 facebook, google, twitter microsoft, hollywood they are all left leaning. Are you blind or stupid

“If the economy is based on consumption why don’t we just give everybody money and have them buy things” isn’t that what’s going on right now and the pandemic with unemployment

Pakman, you're absolutely correct regarding scarcity. Things just continue to get cheaper and cheaper. Marx was right, that capitalism will implode, but for the wrong reason. He thought automation would unemploy everybody who would then have no money to buy what automation produced. What he failed to foresee was that along the way everything would become cheaper until it costs nothing. Capitalism (and all econ isms for that matter) will implode because we're on the verge of ending scarcity. All isms are just mechanisms to allocate stuff we don't have enough of. There are 2 forms, productive and material scarcity. Robots are about to end productive scarcity just in time for us to use them to mine the solar system.

@scottgrohs5940

2 жыл бұрын

You’re forgetting the part where we come to the soot-covered edge of nuclear winter before we move to post-Capitalism post-scarcity society.

@MotoFeeder

2 жыл бұрын

@@scottgrohs5940 Why would we do that?

I thoroughly enjoyed how Pakman stays calm and concise and this didn't turn into a debate of constant interruption. I rate 11/10 just for that.

David Packman has an expert on his show and then proceeds to be the expert.

@michaelarchbold2129

5 жыл бұрын

Kelley Whitehurst apparently people in the comments section are “experts” too lol

@ChipmunkRapidsMadMan1869

5 жыл бұрын

@@michaelarchbold2129 Trouble is, in a world of revisionism, who is the expert?

"It's not about consumption, it's about the ability to produce and create value".. Valuable things to be consumed?...

Why on Earth would you want to end Occupational Licensing?? And I say that as someone who has to hold a valid license to engage in my occupation.

@jackalenterprisesofohio

2 жыл бұрын

What is it? Cause if its like taxi driver I'm throwing something out of a window sometime....if I remember.

I love his analysis of Trump's and Hillary's economic policy XD

@markbrisec3972

2 жыл бұрын

I love how his only policy with which I agreed with more than with Hillary's (the massive infrastructure investment plan), was a pipe dream and just a one more lie on an infinite list of lies that the Orange buffoon managed to spew out during his campaign and his presidency. I guess that "massive infrastructure investment policy) was nothing more than a "huge, beautiful, the best, the tallest, magnificent, impregnable - WALL". Thankfully Trump is such an incoherent and incompetent man that we're lucky he didn't transfer our national budget on Kremlin's bank account, by clicking the wrong button. Oooops. "Can we get it back Vlad, buddy, you old jockster?"... "Njet, who is this, change my phone number please..

Horwitz is obviously a smart man, and he isn't as far gone as some libertarians, but I think David is right and was driving at deeper points that make some of the arguments from Horwitz's side somewhat irrelevant. Also, when he said that we need profit to know where resources are needed where is comes to health care, though, that's where he completely lost me. That was ludicrous.

I think we would solve a LOT of problems if we just got rid of health insurance altogether. It creates an imbalance in the pricing. Here's an example... I got a kidney stone awhile back but didn't have insurance. I went to the emergency room though. I ended up sitting in the waiting room so long that it passed by the time I got to see a doctor. And the doctor spent less than a minute with me. No xrays... nothing. End result... about $2k out of pocket. A few years later the same thing happens, only worse. I went to emergency room, they did xrays, blood tests, etc. I had insurance this time and it cost me like $25. AND it cost the insurance company close to $300. Bottom line, those without insurance (or have poor insurance) are the ones actually paying for those with insurance. And those with insurance are giving large chunks of cash to a third party (insurance companies) that put very little of that back into the medical system. I think a better system would be to have one insurance policy where ALL the proceeds go to hospitals. It would work just like policies do now. Only it would be a larger amount going to the hospital from the insurance policy pool of money since there is no middle man taking a cut.

An economist who still doesn't know how banks operate. From the report "Money creation in the modern economy" by Bank of England: Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits.

“ the Health of a Economy isn’t consumerism “ ? That’s a interesting assumption when You consider Capitalist Economies such America would collapse in less than 6 months without “consumerism” ! Foolish

Regulations make it difficult to "innovate" ?? Like Bernie Madoff's innovative financial products?

His whole supply side economics argument falls apart as wealth continues to segment and wages have not risen with productivity.

It's bull about scarcity of resources for medical or food. Everyone should have equal rights to essentials.

This is great and I'm glad I found this David Pakman show. What I REALLY liked about this is that it wasn't just a "agree with me" show. You guys seemed to disagree on a point and it was a civil discussion and eye opening for me. I understand his faith in the market, and most likely in economic models it make sense, but economics doesn't take into account human motive. So ideally no rules market would be efficient and great but we had that in america back in the late 1800 early 1900. People worked like 18 to 20 hours A DAY, gov had to step in after protests to establish a set work hour per day, per week and pay and outlaw child labor, etc. These problems existed because of the human part of greed by the employers. So in models and with certain assumptions a free market is great, but the human factor fucks it all up. Anyway, would really want to see more from him and more on economics like you did in the Scandinavian eco, although I want to hear him get into the nitty gritty details about denmark/norway/sweden economies more along with this guy and your scarcity question,

@justinruark2721

5 жыл бұрын

Light years better than Young Turds

@cpuwrite

5 жыл бұрын

@@justinruark2721 ...which are themselves much, much better than not-so-Breitbart, Crox News, Loonybin Limbaugh's hour of Lies and all the other right-wing snake oil stands.

I didn't know we had people like this at BSU. Everyone in the Miller college of Business at BSU were libertarians XD except for my business law professor. This was fascinating.

Getting rid of minimum wage? WHAT!?

If the liberterian, free market approach to healthcare is so good, why do 32 of the 33 highly developed countries NOT have a for-profit model AND their citizens generally appreciate & value the universal, socialized model in complete contrast to the 'great, privatized American model?'

As soon as someone self identifies as a Libertarian, I know they'll have nothing useful to say.

"When we free up the economy... that wealth works its way through the whole economy." Yeah or like drops down or 'trickles', if you will.

@markislivingdeliberately

3 жыл бұрын

It doesn’t trickle, it’s given. Of every man woman and child gets a 10% tax cut you me and warren Buffett get one. That’s 10% more in all our pockets. Lot more for him, but 10% more for you. It doesn’t need to trickle down or up, it’s given to all.

@vojtasks

3 жыл бұрын

It is really funny how people are blind to see the trees over the forrest. The very reason why you being a waiter in NY making x times more real income than any waiter lets say here in Czech Republic is due to fact that there is so wealth around you which automatically rises incomes to all people.

@OneOfTheNinjaTurtles

3 жыл бұрын

@@markislivingdeliberately you do realize that its not possible for everyone to just accumulate wealth simultaneously, right? As rich people get richer, regular people make less and less. Supply-side economics only makes sense if we assume that we have an unlimited supply of money to begin with. The fact is that its limited, and if we let the wealthy gain more, we are gaining less.

@lakersfansince1991

3 жыл бұрын

@@OneOfTheNinjaTurtles lmao wealth isn’t a fixed pie.

@supergamergrill7734

3 жыл бұрын

@@lakersfansince1991 but people make it so.

did he just say abolishing the minimum wage is completely reasonable?

David is 100% correct about health care, we tried health care for profit for 50 years and it completely failed. Morally first, health care for all, then profits in other industries. We need to be humanitarians first, then let your fuckin GREED run rampant America.

I wanna see more JD-esque progressives vs Libertarian debates.

taxing the rich at 90% will encourage growth. They will be encouraged to spend for tax right offs.

@coopsnz1

6 жыл бұрын

small business owners , aren't millionaires

@janeryan2709

5 жыл бұрын

​@@coopsnz1 Small business owners aren't part of the "rich".

@coopsnz1

5 жыл бұрын

@@janeryan2709 in Australia bill shorten left leader thinks they 're a socialst dk

@janeryan2709

5 жыл бұрын

Ben Chesterman Uh what?

@coopsnz1

5 жыл бұрын

@@janeryan2709 calling bill shorten a socialst dickhead .

The fact that the economic hierarchy of CEO to employee sees them earn progressively less clearly is an example of money trickling down. 'Trickle-down' is the pretty clear economic stance that not everyone earns exactly the same amount. This is evident in every economic system on earth.

How the hell does eliminating a minimum wage improve the lives of workers?

@BarrySlisk

5 жыл бұрын

It improves the lives of those who are unemployed because their skills suck more than the minimum wage.

"You can find an economist who believes almost anything" Yeah, like libertarianism

@VictorMartinez-zf6dt

3 жыл бұрын

Some of the greatest economists in history were libertarian and other types of contrarian

Public options, like the US Postal Office that brings down the prices of all other shipping companies.

@gurpchirp

3 жыл бұрын

Price =\= cost

The argument against Supply side is not that it wont grow the economy. It's that it wont grow the economy enough to make up for the loss of government revenue.

Demand drives an economy and if there’s not enough people who have the money to fulfill that demand, products and services, no matter how wonderful they are, will not be bought in sufficient frequency to keep the economy strong.

I watched 3 minutes of this and concluded that the bald guy is FOS.

@ocoro174

4 жыл бұрын

slow. you only have to look at his name

@strawmansadvocate3036

4 жыл бұрын

I'll have you know if you actually bothered to watch the whole thing.... You're right

@strawmansadvocate3036

4 жыл бұрын

@@TheSwordfishstudios geez didn't think anyone else was still watching this video, genuinely curious how did it take just 3 hours for you to reply???

@zse4cft6bhu8mko0

4 жыл бұрын

@@TheSwordfishstudios I'm here watching it too, and also in agreement that every point David brought up was thoroughly refuted by the bald guy. Honestly David seemed pretty out of his depth here

No miminum wadge???? You bump your head old man???

@LutherusPXCs

7 жыл бұрын

Finland has no minimum wage

@aritakalo8011

7 жыл бұрын

Lutherus P-XCs oh come on man. you know that is a lie of omission. Finland technically doesn't have minimum wage, but effectively does have minimum wage due to collective bargaining and legal enforcement of collective bargains.

@LutherusPXCs

7 жыл бұрын

***** That is a much better system its good for workers and Business.

@aritakalo8011

7 жыл бұрын

Lutherus P-XCs you do realize collective bargaining is WAY more expensive to businesses. because unlike minimum wage, collective bargaining means constant rises and higher wages since the workers have actually power. Not to mention leading to other major obligations to companies through negotiations (working conditions, employment protections, holiday increases etc.). So please go ahead and implement mandatory collective bargaining in USA, American businesses wish they had just accepted a measly minimum wage rise.

@geico105

7 жыл бұрын

In a perfect country, the minimum wage makes no sense. It's sole existence is for damage control.

A really great debate ! I demand a follow up videos ! You could discuss more defined topics in multiple 1-2 hour long sessions. This was the most interesting discussion you had in a long time :) ! I have a really strong stance on social democracy, but i think our ideas can really be improved by taking the other sides (serious) arguments into consideration. I mean even though scandinavian countries have built their systems really well, that doesnt mean that they can't be improved upon. He definitely has a point that the profit motive, incentivices proper allocation of resources and i think maybe that mechanism could be implemented in a beneficial way into a universal health care system. Anyways i wish you americans best luck for the midterms and changing your country for the better. Greetings from Germany - strongest economy in Europe AND a social democracy ;-)

me sitting here in sweden watching this guy say helthcare for all does not work, while we have had it here for along time....

Satan 2016 vote the lesser evil

@Nicbn1

7 жыл бұрын

satan is my homeboy

@TheAstraeuss

7 жыл бұрын

The lesser evil would be Baby Jesus.

@Redwheelbarrow1913

7 жыл бұрын

Dave Oh please satan isnt that evil

@TheAstraeuss

7 жыл бұрын

Alex Bates Oh I agree Satan is about as evil as a kitty cat.

@fattony638

7 жыл бұрын

HAIL SATAN

lol anarcho-capitalists...

Debunked? He said cut taxes and a freer economy for growth. That is supply side economics.

What many Libertarians are ignoring is the economic balance mechanism. Someone has to make debts so someone else can do investments on the higher demand created by real wages increases wich are again are created by productivity growth. All Keynesian countries (USA, West Europe, Canada, Japan,South Korea and since the 2000’s China and Turkey) kickstarted this through the state, wich started the business circle. (Country’s with natural resources are exemptions as they don’t really rely on foreign money nor the state) The Neoclassical Country’s are forced to wait for foreign investments as they have no savings to lend money and aren’t allowed to go into debts. (Africa and all other developing countries forced by the IWF to liberalize their markets to get foreign investors) But how well does this work? Over 50 years of “independence” following IWF rules and nothing has changed. While Country’s with Keynesian policies have developed fast as f*

Every single thing he said as "low hanging fruit to help poor people" at about 6:30.... is HORRIBLE. I am poor. This man would kill me.

@g2trashtxd781

5 жыл бұрын

Or, he'd like for you not to be poor anymore.

@brandonm949

5 жыл бұрын

@@g2trashtxd781 By removing occupational licensing and letting this person's boss pay them even less?

@g2trashtxd781

5 жыл бұрын

@@brandonm949 The boss won't pay less if you remove minimum wage and let unions negotiate the wages for each job, it works in Norway, why shouldn't it in the US?

@brandonm949

5 жыл бұрын

@@g2trashtxd781 I would love that. But 1) this guy never mentioned unions, and 2) you need to get the unions in place before removing the minimum wage and we're nowhere near that point.

@g2trashtxd781

5 жыл бұрын

@@brandonm949 You don't have strong unions over there?

And this is why we watch you David. We socialists do think that some things just should not be subject to profit. JUST imagine how great a world it would be if you could go to a doctor whoever you are whenever you need, just like here in the UK. I hope Hilary Clinton gets the chance to build you one with the help of Bernie Sanders

@bargdaffy1535

Жыл бұрын

Hillary Clinton had her chance in 1993 when she proclaimed as First Lady with a Majority Democratic Congress that Universal Health Care was just too complicated to figure out. Well yes Hillary, you cannot have a Universal Healthcare program when Corporate Profits are your main concern. Seriously Hillary? Universal Healthcare is such a Complex Beast that only 32 of the World's 33 most developed countries have been able to make it work..

@jimohara

6 ай бұрын

Is this comment some kind of joke? People in the UK can go see a doctor whenever they want?

An economist who says, "economies are not held up by consumption". I have heard it all now. George W Bush goes to war and tells us to go shopping and this guy says what he says. Wow.

He called Trump's BS out in 2016. Hit the nail on the head. Everything he said we see coming to pass. But great debate, very informative and thought provoking.

in canada we make it work heh! XD

Props to David for having a Libertarian on the show. Would love to see him debate Peter Schiff.

@cheepcheeps1170

7 жыл бұрын

The guy telling people to buy gold in 2012-13? That guy is a loser.

@ap_395_n

7 жыл бұрын

+Cheep Cheeps I've heard people call him paranoid (mostly Keynesians), but I've never heard anyone call him a loser. He was one of the few in the mainstream media who predicated the severity of the housing crash. He also predicted the student loan crisis. The losers are all the talking heads in the mainstream media who called him crazy. I'd love to hear David talk with him. I'm sure it would be epic. They're both extremely bright guys.

@aaronhoy3410

7 жыл бұрын

+Anthony P Yeah he correctly predicted those things, but so did a lot of other people you just don't know about them because they are not ever invited on "mainstream" shows. The mainstream hosts who called him crazy are definitely losers and dumba**es, but that doesn't mean he isn't also kind of out there with a lot of his ideas... it just means he didn't buy into the bulls**t the mainstream hosts did.

@ap_395_n

7 жыл бұрын

Aaron Hoy Yeah, I realize he wasn't the only one that accurately predicted the housing crash. I think people should give him credit for being one of the few to do it on mainstream media, though. He got a lot of flack for it at the time. Regardless, I think David and Peter would have a very interesting convo. They're both informed and uncorrupted, but also represent different sides of the spectrum.

LOL; it drips down like rain * stands with mouth open, starring at the sky

Yeah eliminate minimum wage so that the corporations can pay us as little as they want. 7:00 - Damn this guy is insane!

@christina9725

3 жыл бұрын

Right? The reason we had to pass minimum wage laws is because, when left to companies, they would pay next to nothing and tell their workers they are lucky to get that. Look at how many jobs only pay minimum wage. If that law didn't exist, those companies wouldn't be paying their workers even that much. Minimum wage doesn't even cover living costs, so I can't even imagine how many more people would enrolled in safety net programs without minimum wage laws. And, the real rub to that is, workers would be (and are) blamed for their own low pay instead of questioning why the billion dollar company they work for isn't paying them a decent wage.

The only thing that this dude said with any factual benefit in reality is the abolition of the war on drugs. We require a higher minimum wage, we require public schooling, and we require a progressive tax code if we want to be a modern society.

We just heard the other day that in Scandinavia it works great and the public there love it. Single-payer Medicare for all is the way to go, this "professor" sounds like he gets checks from the Insurance industries.

@BarrySlisk

7 жыл бұрын

The health system sucks in Denmark. But you are right that people love the system. They don't know any better. But people are beginning til take notice of Switzerland. Lower taxes and much better welfare and much richer.

@njeddie4488

6 жыл бұрын

The old "ad hominem" tactic, eh? Truly, the last refuge of the ignorant.

@shaft9000

6 жыл бұрын

Scandanavia resembles the USA about as much as Mexico resembles the moon.

I don't agree with David Pakman, but It's refreshing to hear someone from the left actually allowing their opponent to speak, not shouting them down, not constantly interrupting, and not resorting to accusations of every form of prejudice and bigotry under the sun. He's also got a point about absolute libertarians. I'm a libertarian, but an absolute libertarian society is basically Mad Max. Any ideology followed to its absolute will always result in disaster, and libertarianism is no exception.

In Britain we have something called the National Health service, it's funded by taxes and it's free to everyone at the point of delivery, it's about as socialised as you could get AND IT WORKS ABSOLUTELY FINE Cuba even has a better health care system than the US!

So there is currently such a regulatory burden in place that it hinders businesses from thriving in the US? Deregulation will somehow fix this and increase demand?

@BarrySlisk

7 жыл бұрын

Yes. I remember Peter Schiff has talked a lot about this. He moved his business to Puerto Rico to avoid regulation. One of his problems was regarding new employees. Once you reach a certain number of employees some regulation kicks in which makes it hard to expand. Don't remember the specifics though. For this reason he would only hire foreigners. As I typed this I googled and found this article by him: humanevents.com/2011/09/21/the-ceo-who-got-fined-for-hiring-too-many-people/

I knew this was getting good when he identified as a Libertarian. Top kek

Most socialized methods of distributing food have failed, most free market medicine has failed. Use what works

Right, because why would you want to give tax breaks to the ones supplying all the jobs.

please don't let him say that the reason we're in this mess is because the government has tried to step in, and then carry on without explaining.

10:48 that was such an easy argument to shoot down and I think David answered it very poorly. What he presented was simply a false analogy. Healthy food doesn't get cheaper if the government gives it to everyone. *Health care does.* That's why people with universal healthcare pay way less per capita than Americans. It's a win/win - coverage for all and much more cost efficient. Anyone with some insight can see this.

@allanrichardson1468

6 жыл бұрын

Julian Nikolay Krogh-Fredriksen And does anyone object to socialist firefighting? Why should MY tax money go to putting the fire out in some lazy cheap SOB’s house who won’t pay for a firefighting subscription? Oh wait, that lazy SOB is NEXT DOOR? In that case, what are you waiting for, roll the trucks before the fire spreads to MY house! Come to think of it, the “lazy” guy who doesn’t go to the hospital might have something contagious ...

He should have had Thomas Sowell on.

A real battle of ideas and not a "we are so open minded" circle jerk.

One of the many ways Reagan destroyed the middle and lower class.

Does trickle down economics work? Of-course, in the sense that the rich having to pay less taxes means they have more to invest and spend on consumption, that helps the economy. But republicans and libertarians don't JUST reduce the taxes on the rich because in order to be able to do that they need to cut spending on society and education or even worse increase the taxes on the working and middle classes, the negatives of those two things outweigh the positive of trickle down economics. The Middle class and working class spend a much higher percentage of savings and tax breaks on the economy compared to the upper class. If you are going to cut taxes cut the taxes on the working and middle class because they need it more and it helps the economy more than the alternative - A member of the upper class.

Great video. Perfect example of a solid discussion between two people with different views.

You can invite this man back. He can actually argue and comes across as rational. I still don't agree with him, but it is nice to be able to at least respect the man on the right for once.

LMFAO every other industrialized country has single payer. This clown "it just cant work" GTFOH. Note to self, dont take economics at St. Lawrence U

@hamishcounsell5579

4 жыл бұрын

well i mean there are 4.5 million people lining up waiting for surgeries in the UK and thats single payer but ok

Let's get government out of our business, unless it makes me richer... lol just another soulless money grubber.

I can't believe this guy is a professor

Trickle down economics Would work, in a perfect world. If people did the right thing there would be no need for govt intervention in a lot of areas.

@BarrySlisk

7 жыл бұрын

You could say the same thing about socialism....

@jasonMontalvo1

6 жыл бұрын

BarrySlisk yeah its almost like a healthy balance is needed. A strong capitalist system with a healthy social safety net and regulatory check and balances.