life changing explaination

Please continue you are so smart and we need more of this...

Seems to be missing the Big Brain step of going after the tax shelters

Are the spreadsheets available for download?

He’s so honest

Dr Sowell is brilliant!

Socialist California contiuously raises taxes on the rich, chasing them out. Now they succeeded is doing it to Elon Musk, which will lose them 10s of $M!

The "NOTION" that we have to "RAISE TAXES" because there shouldn't be TAX CUTS FOR THE RICH!" That brainless argument goes back to the 1920's! THE RICH (i.e., "CAREER CRIMINAL Politicians" of the DEMONIC-RAT persuasion) WILL NOT stand still and be SOAKED! They put their money into TAX SHELTERS! They HIDE their money! Which means it "looks good ON PAPER" but IN REALITY the Government is NOT getting ANY MONEY from it. It's ALL a SCAM to make US POOR and THEM RICHER! COMMON-SENSE would tell anyone with more than ONE Living & Functioning Brain Cell in their tiny little heads, that when the government TAXES THE RICH, the RICH PASS those TAXES ON TO THEIR CONSUMERS via PRICE INCREASES, and the BOTTOM LINE IS that it is ALWAYS THE POOREST PEOPLE who end up PAYING those TAXES FOR THE RICH! The DEMONIC-RATS Party says this ALL THE TIME! "We are going to TAX THE RICH and MAKE THE RICH PAY THEIR FAIR SHARE!" REALLY? Have YOU EVER SEEN THE RICH Clinton's, the RICH obama's, the RICH Pelosi's, the RICH O'Biden's, the RICH Newsome's, the RICH Cuomo's, OR ANY of the RICH DEMONIC-RATS "RAISE THEIR OWN TAXES" and MAKE THEMSELVES PAY THEIR FAIR SHARE?" NO, you have NOT! You have NEVER, EVER SEEN that, because it NEVER, EVER, happened! Because they TALK SHIT and DO NOTHING FOR THE PEOPLE! The DEMONIC-RATS have NEVER, EVER, "Raised THEIR OWN TAXES and MADE THEMSELVES PAY THEIR FAIR SHARE!" NOT ONCE! NOT EVER! And in the RARE occasion that they actually RAISE TAXES ON THE RICH, which of course, does NOT INCLUDE THEMSELVES, the RICH ALWAYS passes that EXTRA TAX BURDENS on to their Consumers by RAISING THEIR PRICES, and the POOR ALWAYS end up PAYING THE EXTRA TAXES FOR THE RICH! It's more like MOST "RICH CAREER CRIMINAL POLITICIANS" (NOT "intellectuals," but the RICH CAREER CRIMINAL DEMONIC-RATS) that CHOOSE to remain IMPERVIOUS TO THE FACTUAL EVIDENCE! And in "OUR" SO-CALLED "schools and colleges," (i.e., the "Public BRAINWASHING & INDOCTRINATION System") the LEADING Text Books INTENTIONALLY "MIS-STATE" the FACTS and "MIS-STATE" what ACTUALLY happened! Here's a FACT for you! The word "MIS-STATE" is the nice, politically correct word for "LIE!" So, what that statement REALLY SAYS is that they INTENTIONALLY LIE about the FACTS and LIE about what ACTUALLY happened! Are they REALLY TOO STUPID to Comprehend FACTS & TRUTH? Or are they INTENTIONALLY EVIL and "Choose" NOT to RECOGNIZE THE FACTS & TRUTH because it doesn't FIT THEIR NARRATIVE and does NOT FILL THEIR POCKETS with OUR MONEY? It doesn't take a freakin' GENIUS to figure that out!

Bright guy. A bit too theoretical. Can he help a comfortable pensioner who is ashamed that in the rich uk a million children go hungry every day. I would happily pay more tax to solve that

Of course Sowell benefits with tax cuts for the rich. So does Trump. If we get rid of Trump's tax cut for the rich AND get rid of Bush's tax cut for the rich, we could use those billions each year to pay off the debt. (remember the debt. The thing that rich Republicans are worried about when we need money for the poor/middle class. BUT, they are fine with adding to the debt to give tax cuts to the rich). We also need to get rid of loop poles that the rich use to avoid paying taxes.

fix the tax code before you change the tax rates. billionaires can pay 0 taxes or even get tax refunds while the average worker is paying the government. not that taxation is actually the driving force behind the government (thats the semi-private federal reserve bank)

Don't make laws because people will break them. Is that the argument? Why arrest a criminal? It is not like he is going to stand still and be arrested. idea is to cut loopholes, but this guy is all about some form of Trickle down. For him, It will always turn out good for society to cut taxes.

One of the most intelligent man in the world

OMG hes basically talking about the ludicrous idea if trickle down economics - which has proved not to work, its not trickle down, it's sucking up - it's easy to tax the rich, it just so happens those who would push that policy through dint want to be taxed themselves and theyre paid by the rich not to

But Mr Sowell, what does corporate revenue have to do with working Americans’ ability to feed their families??

Refer to Laffer,s Law.

What a shameful jerk

Another spokesman for the rich and privileged. He must love sales taxes and hate wealth and income taxes. Who pays his salary? The rich and privileged.

I doubt that this person understands Orwell, if he ever in fact read him.

Ah, as expected, the comment section is full of selfish faux libertarian jackoffs

President Trump read his books.

It's amazing how many here think they should have a say on other people's money.

Terrible video .!!! Never listen to man Humanity .?!!!

I can see her throwing her wig at Doocy one day. Lol

Biden's ads say he will 'close the tax loopholes on the rich.' This class welfare rubbish works on the low info, low IQ voter. Voters should feel insulted by this nonsense.

Is that background a filming location of the movie Vertigo?

Yeah at a certain level of wealth this doesn't hold up. After a billion it's a different world and we need to tax the hell out of them. Anything under I agree with. After a billion it's like Newtonian physics and quantum physics. He's speaking about Newtonian physics (millionaires). This doesn't apply to the next level anymore.

people like the idea because they are jealous

people like the idea because they are jealous

If you dont think the rich pay almost all the taxes. Make more money and see how much more taxes you pay.

absolutely, the rich have many ways to look poor. you'll never get their money if they don't want you to.

Mr Sowell loves the sound of his voice almost as much as his audience...

Some people say we should go back to the 90% bracket. No one paid 90%. They found tax shelters, they paid their tax men to figure out ways to avoid it.

So eliminate the tax shelters. They didn’t have them back in the 1940s-50s when the rich paid >70%. Now conservatives are always saying they want to “Make America Great Again.” Well, let’s start by returning to the tax laws that existed when America was great. Those laws worked for 50 years.

Google corpoate tax collections by year. You can see them going up each year from 2021 because we cut the corp rate in 2018.

Nothing you earn should be taxed! All we need is a consumption tax and no IRS!

You said they cut the tax rate of the rich in the 20’s, Reagan and Bush adm. Weren’t they all immediately followed by a depression and recession?

Everybody pay 10% no matter their income level & no deductions

At 00:36 he appears to put a mint in his mouth. I want to know what kind !!!

What a load of Hogwash! The evidence, Mr. Sowell, is staring us right in the face and you don't have to go back to the 1920's to obtain it. Since the Reagan and Bush II tax cuts, the levels of income inequality, poverty, and government deficits have ballooned dramatically. Your bullshit theory is easily disproved. I am certain, however, that you are being very well recompensed baby your billionaire sponsors for constantly spouting this nonsense anywhere you are allowed to do so. Thanks for sharing, bubba.

who creates these "tax shelters"? the same self-serving politicians who parrot this soak the rich arguments

It's easy to prove a point if you cherrypick data and exclude things that don't agree. If people are evading and avoiding tax, fund your regulatory and taxation sector to cut out the loop holes that allow them to do so.

Another example is asserting the rich need to "pay their fair share" while not defining what is "fair". This usually means they have nothing substantive to say.

That POS Obama literally admitted this was true in an interview with Bill O'Reilly back around 2009, then followed that up with something to the effect that it was still "fair" or some other SJW BS term to have punitively high tax rates for "the rich."

“Dr. Soul”. Wow. Missed the W! lol. Funny though.

My favorite author. His book Basic Economics is a must read.

Dr. Thomas Sowell, purveyor of truth. I wish he could have been president.

Biden: You ain't black!

If the policy is “Rape the slim and beautiful”, how many women will strive to be either?

This taxing of the rich at higher rates has been tried so many times in so many countries and hasn't worked on a sustained basis at any time. Concentrate on productivity as a nation, not high taxation.