Economic Update: The System Implodes: Amazon, Evictions, Tax Abuses, & Minimum Wages

[@tapptom]

The SYSTEM is the problem. Those that are writing the rules or laws are the same ones that benefit from those same laws. Take a look at the USA citizens on skid row in LA, then tell me that the USA congress et al, care about those USA citizens. They are more concerned with dealing with insider trading for themselves. In essence: “I’ve got mine, you go and get yours”…. That’s what they are saying and care about. This has been the USA policy for a long long time.

[@tapptom]

@Don't Believe Da Hype no your are wrong. It’s the broken system and the people that run it. Wake up or are u trolling me?

[@tapptom]

Remember Buzzy Krongard at the CIA(the USA CIA), that was placing bets on American Airlines right before 911? He made a lot of money!! Our own government

[@chenxie8184]

@Don't Believe Da Hype Do you mean the species is the problem? If the system is not the problem, changing another group of people to run the system will be the final solution right?

[@tapptom]

@Don't Believe Da Hype the SYSTEM directs all of your relationships to your fellow man in the majority of the cases.

[@tapptom]

@Peter Brown 1776

[@antonywerner3018]

in germany we have a Law ( Gesetz gegen Wettbewerbsbeschränkungen) that requires the interests of small and medium-sized companies to be given preference when awarding public contracts, even if the order is to be divided into several small orders for more than one Companie.

[@antonywerner3018]

@Vicky Zabaras The law is old that we have in Germany we have a strong Mittelstand ( middle class) and they don't vote for some one who ignore then.

[@whygohome172]

@Vicky Zabaras and the repubs keep blaming the Democrats and confusing people into voting for them.....or they find a way to keep Democrats from voting because they cannot WIN any other way.

[@gamer-ff6mh]

@@antonywerner3018 Germans are an enlightened people. As a Germanophile, the contributions of people from this piece of land alone, have given me so much hope and happiness. Mozart, Haydn, Hegel, Marx, Mises, Humboldt, Kant, Leibniz, Goethe, Schiller... and then Peter Alexander.. Ingeborg Hallstein.. Ok that is Austrian operretta.. But they do speak the same language. There was a time, when I was young, that I knew of Germany only as the land of Hitler. What a narrow perspective I had! Mozart's operas convinced me, that it is German not French, that suited to a deeper philosophical truthful expression of love. It might be a slightly rough language and people that it will not match Italian in opera but it not only matches.. It surpasses at times. Fischer-Dieskau and Erika Köth's Reich mir die Hand... is unmatched by any Italian version of La ci darem la Mano I have ever heard anywhere

[@antonywerner3018]

@Vicky Zabaras yes i could, i don't like the American Government, for me as a German Bureaucrat its to unorganized and to undemocratic, but i don't have any problem with the population of the USA. Sometimes i even feel sorry for the people who live in the USA, becourse of the economic and social problems of the USA.

[@antonywerner3018]

@@gamer-ff6mh i sometimes hear people say what you thought as a young person who have no idea about history, the history of Germany is so much more than just the third Reich, some Germans even dont know enough about they own History to know such things and as a German i feel flattered that someone likes our culture as much as i do or even more. i think you like mainly the Weimarer and Wiener Klassik Right.

[@mocki5665]

In Scandinavia we have $23/hour as starting salary (Yes, that incl. McDonalds etc!). Last week there was an article in BusinessInsider and Time that stated; "The 1% have taken (stolen) $50 Trillion from the lower 90%" in the last 4 decades or so! I guess that's where the wage hikes and "American Dream" went, to the 1%. Disgusting greed.

[@alexanderb7721]

Anarcho-primitivism is the only true way.

[@indricotherium4802]

It begs the question how many decades is it going to take the 99% to understand how collectively irrational of them it is to let 1% put this over on them (after all, the latter aren't ever going to change direction voluntarily).

[@bg3160]

Then again, if in the United States we enforce a $23 minimum wage, the jobs go to Mexico, China, India or elsewhere. The only jobs that stay are either those that cannot be done elsewhere such as McDonalds, or jobs that are worth $23 per hour that aren't worth outsourcing to another country. I'm watching multiple small companies now, either preparing to downsize the work force, or move overseas / Mexico with the jobs that aren't worth $23 an hour. You might ask what sets the "worth of a job"? If a company can go overseas and get the same quality, typically it goes overseas. As for McDonalds personnel, just means fewer McDonalds open, fewer jobs, and those lucky enough to get a job are happy, but we don't measure the jobs that don't get created.

[@notabene7381]

Hate the game, not the player.

[@buddywhatshisname522]

@@bg3160 in my humble opinion, this is where the promises of NAFTA and other trade relations have failed us. I remember the first NAFTA talks and how worker organizations were excluded while business was encouraged to join the discussions. This made it perfectly clear to many of us that manufacturing was going to be moving south and east. It became clear that there was no plan to lift those countries up to our standards, but instead to lower ours to their level. I was there for the hollowing out of the rust belt and witnessed the decent first hand. Most components of “American vehicles” are built in Mexico now if not the entire thing. If you raise the minimum wage without making it expensive for those who want to move their operations off shore, by including trade barriers for these American corporations, everything you’re saying will be the case I’m afraid.

[@richarddombakly413]

I NEVER Thought I would agree with Richard Wolf,but he makes a LOT of sense!!!!

[@ParcelOfRogue]

Pre-fascism, Neo Facism, & nationalist nativism - when capitalism is under pressure

[@presterjohn1697]

Try fascist before the ink could dry on the Constitution. This is far from being a recent phenomena. The US was a dress rehearsal for Nazi Germany. And furthermore the US had a far greater margin of success at it. Nazi scientist, eugenicist and sociologist came to the US "before" the start of WWII to study the mechanics on how to brutally subjugate populations and codify it into law.

[@TeaParty1776]

When capitalism is under pressure, it innovates and produces more. When communism is under pressure, it becomes fascism.

[@AG-el6vt]

@@TeaParty1776 Projecting much?

[@ricardoramos4514]

@@TeaParty1776 nazi germany arose out of the failures of capitalism.

[@thosethatcan]

Do tell!

[@loganrenaud9814]

hey Richard, I was told about this show in my first year of high school. this show has made me understand things much more clearly. I owe that in part to you and I hope you and everyone at democracy at work are doing well. your work is well appreciated.

[@Bovice..YT-handles-are-fn-dumb]

One of the few sources that make me feel sane, in the midst of this American hell. Thank you! ❤

[@edhotchkin5938]

I learn a lot from both you and Thom Hartmann. Thanks to both for educating society for making better decisions.

[@andrasdudas8226]

I really appreciate this calm, slow speaking, and true words.

[@acemoore7204]

These crooked ways of the big corporations is reason enough for us to find ways to greatly increase income taxes on the rich.

[@DBEdwards]

General Electric and Amazon pay no federal taxes. No wonder Jeff Bezos is personally worth 150 BILLION DOLLARS!

[@NinaCantHearU]

THEY WOULDNT BE BILLIONAIRES WITHOUT THE WORKERS!

[@projectmalus]

Or the roads.

[@valereehansen4378]

Correct, workers who have been oppressed, murdered, and starved into submission, working and living in mud without running water, or sanitation. Left to die if injured on job. Dispensible masses, throw-away people so business owners and their families could live in unfathomable luxury. Them and their descendants have a lot to start correcting.

[@atomiccritter6492]

well technically the vast majority of the rich INHERIT their wealth but yeah at some point its all about workr exploitation

[@valereehansen4378]

@@atomiccritter6492 at some point is at the beginning through, trickery, payoff, suppression, murder, starvation, +. Just bring up any of the documentaries about "How Any-Successful-Brand-Began". Sickening and horrific.

[@Bjorn2055]

OR THE BANKS/CREDIT CREATION

[@marpro765]

Thank you Professor Wolff for making the effort and taking the time to educate the public in these KZbin snippets. You're an excellent teacher, as are all of your extremely well thought out programs. I spread these wherever I can to help you in this process. Please continue. 👍😍🥰. This country is in so much trouble. And the people so profoundly ignorant and lacking in critical thinking skills. 😢😥 Again, thank you.

[@Volvo-f2y]

In India, 1951: top 1% owned 13% of the wealth. 2019: top 1% own 58% of the country's wealth. (Oxfam International) 2030??

[@aleksanderbrygmann279]

2030 will be 100% or guillotines

[@mirnamm3590]

Top 0.001 owns you and we all

[@Volvo-f2y]

Human technology has made it possible to overproduce and generate so much wealth yet vast majority of mankind is unable to meet their basic needs. Not a good state of affairs.

[@TeaParty1776]

Finance creates new jobs. The more finance the more jobs and production

[@amandap9332]

@@TeaParty1776 finance sucks wealth out of poor people. That's it. Its entire purpose.

[@melanierose3909]

Thank you for making this vidoe!!! Thank you for making it add free too. Please don't stop. Your voice is sooo important. I can't believe I just stumbled across your channel. I am sharing it with every one. You need to reach out to Micheal Moores Rumble.

[@aveuch]

Tax tampons but not stocks, yeah, totally fair.

[@lynnwood7205]

True, true. Totally, totally fair. But what is not fair is that our Billionaires who sail their mega yachts beyond the limit of territorial waters have to pay state fuel tax on fuel pumped into their yachts from ocean going fuel tenders. Now do you think that is fair?

[@l.w.paradis2108]

@@lynnwood7205 Wow. Just wow.

[@user-gz4ve8mw9l]

The elites don't pay taxes on those either. On the contrary your the one paying for such trivial matters for the elites with your taxes. So they pay nothing at all for the likes of such.

[@peterpyke1213]

THEY FINALLY TOOK TAX OFF I BELIEVE

[@kathyadair8552]

@@lynnwood7205 I can't read it all, but, probably agree. Im all for Free Enterprise/'Mkts.' But, like, BIZ, in general; it's become entirely too brutally predatory, for far too long. And, in '20, became officially, Monopolistic!

[@pamgori8008]

Thank you so much for educating the workers as to what's REALLY going on behind the scenes..a total Set up..I've been there myself.hope more people listen to what your saying..take care..BOSTON🍀

[@kristiandoon8976]

Everyone does better when everyone does better. TAX THE ULTRA WEALTHY LIKE WE MEAN IT NOW.

[@kristiandoon8976]

@@21millionreasons they already do. Also they would relinquish the Made in USA.

[@catherinemira75]

Thank you for being with us again Professor Woolf! 👍👏

[@ViraL_FootprinT.ex.e]

I watched a lecture where Prof. Wolff mentioned that the student loan situation in this country isn't even necessary in a capitalist society. Hadn't even thought about that up until that point. That hit hard. P.S. And while no... It's not necessary, it's still inevitable. Capital is going to squeeze profits out of every nook and cranny of society that it can. It's just the predatory nature of the system.

[@danielyounker5371]

Socialism is a monopoly of politicians.

[@danielyounker5371]

*of the entire economy.

[@paladin7422]

America is gradually slipping to poverty. Once dollar is thrown out of a means of international payment the result will be obvious.

[@NishanthRajiwtbawlb]

What are the chances there’s any reform before the dollar collapses?

[@redfiend1670]

@@NishanthRajiwtbawlb on current course? Not likely. Billions of new money is pumped directly into the stock markets per month by the FED. The constant attacks on the middle east are for oil hegemony, and having strategic positions to enforce that oil hegemony. The petrodollar's international oil trade monopoly is the only thing propping up the international demand floor for the dollar. The rest of the world moving beyond the dollar hegemony will lead to the dollar collapse as the demand floor dissolves.

[@gs-nq6mw]

That's pretty obvious for everyone,but they will not fall without trying to rise again trough imperialism,that's what "make america great again",use your huge army and economy to get rich again by any means necessary.And the world should be aware of that,what's the next trick US will try to convert their power into money at the expense of weaker countries?

[@notabene7381]

Alfred McCoy (American historian) foresees by 2030 the coming loss of the US dollar as the global reserve currency, which will instantly make it impossible for the US to pay for its huge deficits by selling depressed Treasury bonds. There will be a massive rise in the cost of imports. Unemployment will explode. Domestic clashes over what McCoy calls "insubstantial issues" will fuel a dangerous hyper-nationalism that could morph into an American Fascism. Look up his talks on KZbin.

[@zimmicks3170]

@@notabene7381 America is already Fascist. Our media just doesn't admit it (and they are pressured and paid NOT to). Hyper-nationalism has ALREADY happened or have you lived under a rock these past 5 years? As to your other points, will they happen by 2030? I would give it 50/50 but that's only for that predicted year. Sooner or later it will happen.

[@robini.1338]

Please send this video to President Biden! I love watching and listening to your teachings! Thank you for making your lessons easy to understand!! Robin.😄🙋🏻‍♀️🌺

[@moniqueboyke5879]

Great video professor Richard Wolff

[@ERROR-CitationNeeded]

How did Amazon make so much money so fast? "The secret ingredient is crime."

[@ERROR-CitationNeeded]

@@Aeternum_Gaming *Capitalism!*

[@TeaParty1776]

@@Aeternum_Gaming So for years they paid workers even Amazon had no profit. Exploitation!

[@acemoore7204]

Eliminate the competition.

[@TeaParty1776]

@Vicky Zabaras You evade context. Everybody damns their enemies for "lack of honesty, decent values, ethics." Look out at reality, not inward. Focus your mind. Man needs a rational philosophy as framework for knowing reality. Both Left and Right reject individual rights and independent mind, one for God, the other for society.

[@TeaParty1776]

@Vicky Zabaras Im too humble to say it.

[@jeremycranford2732]

Keeping teaching and preaching Prof. Wolff, eventually, the people will understand what you're saying.

[@acemoore7204]

Amazon and Walmart bombed out most of the small businesses.

[@recyclespinning9839]

We just should not buy from them..

[@goran797]

Amazon and Walmart didn't. The consumer did that by choosing them due to price and selection.

[@acemoore7204]

@@goran797 Most consumers are strapped for money, and have little choice, but to find the best prices due to inflation.

[@goran797]

@@acemoore7204 Most consumers buy way more junk then they need. That's why self storage is a big thing. They just want more stuff and Walmart can give it to them. Walmart's profits don't come from bread and tomatoes.

[@DanA-nl5uo]

You can't have extream wealth without extream poverty. One is the cause of the other.

[@notabene7381]

It's the simple mathematical fact, that the value of money is only relative, never absolute. If everyone had 100 trillion dollars, it would not mean that everyone was "rich".

[@joeanthony7759]

@@notabene7381 True. but under the current parameters of a deregulated financial system which has gotten gradually worse over 4 decades, there is a clear correlation between why there are more billionaires while at the same time everyone else is floating on credit and debt, or on the edge financially. Wages and salaries use to be pinned to the inflationary-index and costs-of-living adjustments, which stopped by the 1980s. The root of the problem is how currency is created, and allowing the value of currencies to be manipulated, devalued, made artificially scarce, etc. Our monetary-system has been essentially privatized by the West's largest banking conglomerates, with government complicity. Our debt-based fiat-currency is a dead-end. It may have made sense 50 years ago, but not anymore. Hopefully one day enough people will wake up and realize technology has advanced enough to the point where money is becoming obsolete as a tool-of-exchange. We can already see, even more so since the pandemic, how out-dated much of our socioeconomic structure actually is. But I am not optimistic this will happen in our lifetime, though the seeds-of-truth have to be planted sometime if they're ever to grow at all. There are plenty of people who have understood the folly of it all for a century, come and gone and come again, but these folks are never allowed anywhere near mainstream media, for obvious reasons.

[@clarestucki5151]

Dan A Stupid comment. How does extreme poverty contribute to extreme wealth? The rich get rich by doing things that make people so happy they can' t resist throwing their money at them. Think about the guy that invented cell phones. If people were all extremely poor, they couldn't afford cellphones, and he wouldn't be extremely rich.

[@havable]

@@notabene7381 "If everyone had 100 trillion dollars, it would not mean that everyone was "rich"." While that may be true, when only a few people have several hundred billion, *everyone else* has to live in abject poverty

[@havable]

@@clarestucki5151 "How does extreme poverty contribute to extreme wealth?" Because they can't be billionaires without defrauding everyone they've ever come in contact with "The rich get rich by doing things that make people so happy they can' t resist throwing their money at them" That is the stupidest spin I've ever heard in my life. Congratulations, turd blossom.

[@tlalocgarcia7623]

I recently lost my apt and am now living with my brother. But can only stay for a month. I’m taking up 2 jobs to get my own place. Maybe roommate? Anyways this video made me cry ? 😐

[@soberanisfam1323]

Yup you will probably need a roommate. At least where I’m at. Unless you go out in the middle of nowhere

[@Shelora]

@@soberanisfam1323 In New York City, 35% of the people spend 50% of their income just on shelter!

[@ourladyssoldiers]

The USA is the best country in the world. I heard that from CNN, MSNBC, FOX, ABC, CBS so it has to be true.

[@maxcowell3920]

Many thanks. Always a fresh analysis on otherwise tired old neoliberal failure......

[@peterrevello6291]

Funny you should mention amazon flex, I’m literally about to start my flex shift, watching this in an amazon warehouse parking lot. It’s really bad, we take shifts that are supposed to last around 3-4 hours and we’re given net pay, say 50-85$ for that time depending on the demand. Sounds ok at first, but here’s the downsides, they could give you 50+ deliveries to make in those 3 or 4 hours, plus keep you waiting at the warehouse, means you will rarely if ever finish on time. Also there is absolutely no guarantee that you’ll get any shift at all. So absolutely no stability in schedule or in pay makes planning life and paying rent a nightmare.

[@ignazs.5816]

Sounds horrendous. Sorry you're going through that. I've never lasted in those side hustles because one ends up losing more money than one is making.

[@mynamemylastname7179]

It's capitalism you dont like your pay get another job.

[@judymeyer4315]

one more brick in the wall

[@Enfiare]

If I were forced to sum up this man's argument in one word that word would be cogent.

[@valereehansen4378]

Oh yeah, when you work federal you see things that are just not right. You have to purchase everything from paper clips to a copier through a specific catalog containing prices way beyond what I would pay as a private citizen walking into the same large office supply store. So what's that all about? Never made sense to me.

[@westleymanc]

We do the same here in all large companies. Approved suppliers. How it works I don't know, seems a rip off to me

[@karengrice2303]

Probably one of those lovely public private partnerships used to screw the taxpayer.

[@lorrainewest7408]

@@westleymanc It is called a nice set up for some suppliers. Just as $50 for a bolt or $150 or more for a toilet seat described with Military accrument as someone posted ages ago.

[@walden6272]

@@lorrainewest7408 I remember a report showing the Military spend $20 Million on firewood. Not only is that an outrageous price but the military don't even use firewood. Here's the video on that. kzbin.info/www/bejne/e567ZYShZrili7s

[@jo9732]

We have the same at my company. Supposedly at the end of the year the supplier cuts us a big rebate check. But that’s all bullshit.

[@benniestraughan8246]

I once heard the late Billy Graham say that "Once money becomes your God, you can never make enough. You will always want more and you will never be satisfied." I truly believe that the man knew what he was talking about.

[@jasperjaguar5453]

He was talking about himself

[@rasslebaby]

God this just makes me wish the imaginary group of worker-friendly politicians Wolff talks about existed in America

[@davidpeppers551]

Don't wait for them to appear. Movements make things happen. Few politicians do what's best for the people on their own.

[@rasslebaby]

@@davidpeppers551 it’s gotta start with us, always

[@peterpyke1213]

THEY DONT EXHIST ANYWHERE NEVER HAVE NEVER WILL UNLESS WE SAY ENOUGH IS ENOUGH

[@judymeyer4315]

my dad always said "Wish in one hand and poop in the other and see which fills up first" It's time we started rising up

[@drakekoefoed1642]

we call ourselves the green party

[@MullahSteinberg]

Professor , just want to say thank you for your effort

[@philmaturanodrums]

Man i learn so much from you everytime! Grateful for your time and efforts. All the best from Argentina where I am stuck for now.

[@4BetaMale2]

5:00 Professor Wolff when a US equivalent of this website becomes available please let us know.

[@rcmrcm3370]

UK minimum wage included NHS medical cover, which covers same for minimum wage person as management. USA, you're forced pay for crappy medical insurance, if you can afford it, which covers next to nothing if you are poor, or a penalty in lue.

[@bg3160]

Crappy? All depends on how you define it. I know people on NHA (used to work for an international company) that absolutely hated it. Too much red tape, long waits and the rest. Canadians come to the USA for surgery they can't get at home because their version of NHS won't authorize it. The US System is strange to anyone used to single payer, but having used it multiple times, I'll take crappy US insurance over most NHS style just about any day. Having had multiple back surgeries paid for by crappy insurance in the hundreds of thousands of $$, and hearing the NHS horror stories, I'd be dead by now under NHS.

[@ignazs.5816]

@@bg3160 If you're a really poor senior in America, Medical and Medicare is great. You can choose good hospitals and most medications, medical equipment, and surgeries are covered.

[@antoknee100]

You sir, are an awesome educator. Thank you for opening my eyes even wider, than they were, 29 minutes and 45 seconds ago. Cheers.

[@darktagmaster1861]

Let’s not forgot that taxpayers also fund healthcare for a lot of full time WAL-MART workers as well

[@infinitytothepowerofinfini8216]

It was my pleasure to again, enjoy your informative and sound points on economics. Thank you so very much.

[@johnellis5768]

"85% of children in homeless shelters have failing grades." Of course, for we slow of thought laboring-class people, we have slow of thought children who will spend their life doing laboring-class work for starvation wages. And so, is the root cause a lack of education, or a lack of an honest society willing to pay a fair price for manual labor?

[@elviragodinho581]

Mr. Wolf, thank you for educating us about such important information.

[@markco61]

Life in a corporatocracy....winner takes ALL until collapse, exhaustion and literally extinction, like it or not.

[@tonyg1179]

glad to hear that presentation and hope that politicians are listening also!

[@drivenbyrage5710]

The definition of insanity is doing the same thing again and again, and expecting different results.

[@bg3160]

Argentina ate the rich, the Stalinist revolution ate the rich, Mao Zedong ate the rich. Rich are great to throw rocks at, but there aren't enough to subsidize everyone. Eventually the individual must take responsibility for their own actions and step up. The great narcotic of socialism, take from the rich and subsidize the poor is like the great Ponzi scheme. There just aren't enough rich to go around.

[@lorrainewest7408]

@@bg3160 Ha. Someone with a warped sense of humor.

[@RussCR5187]

@Vicky Zabaras "Let's eat the rich and rebuild" Count me out. I'm on a fat-free diet.

[@bg3160]

@Vicky ZabarasSo you destroy those capable of building wealth and hope those that aren't capable can survive. Just remember those politicians you'll have running your socialist paradise will eat you once they get done with the rich. Study history.

[@bg3160]

@Vicky Zabaras I hope you apply the same standards of justice to yourself. I personally know some very wealthy people that do the world much good. They share, try to build people up, they are the epitome of the upstanding citizen. If they deserve the guillotine, you might want to look at yourself and what your attitudes engender.

[@dessean1]

What an education you just gave me. I was unaware of this madness in America but really not surprised given America's addiction to greed. America has absolutely no moral compass nor conscience.

[@caseyakasubzero]

Thank you proff wolff for the update much appreciated

[@pambrunner5716]

You are teaching me. I'm trying to catch everything you say. How lucky I am! Retaining all will be a challenge, but I am working as best as I can. Thank You

[@inpursuitofgoodness4205]

Love the musical intro of this program, Richard; It rocks

[@ianflamm1573]

The Professor is OG.

[@gbantock]

I surely can understand your comments about the effect of poverty upon them. As a young child my parents endured a lot of poverty, during the post-war years of the 1940s. We did not quite have to resort to shelters, but we lived in substandard circumstances, e.g. in garages, in appartments for which we did not have enough money, hence were evicted numerous times, etc. To this day the prospect of such deprivation returning gives me "the willies". I remember all too well those years of my childhood before we finally could attain a better living.

[@StephieGilley]

How much does it cost the taxpayers per year and since 1981, for NY to collect the transaction tax and then rebate it back?

[@RussCR5187]

Since it is refunded 100%, that means we are all paying the costs whatever they may be.

[@pinkmoon831]

Thank you for keeping us updated 🙏

[@dianel.9703]

Thank you for answering that "what happens to small businesses?" argument for raising the minimum wage.

[@carlo6912]

Years ago I used to work for a company named Advanced parking concepts APC in New Jersey. During big events in NYC, they would take the tips we received for that night and deduct it from our pay for the week. Downright criminal.

[@pedrothewise2584]

Greed is surely the worst and most damaging addiction on earth and should as a medical condition the cure being charity

[@jaimebrooks51]

I have a BA in public affairs & criminal justice. I’m a single mother working full time & I live below the poverty line. 2/3 of my income goes to rent for a small home which I was just evicted from. US imperialism is late stage capitalism. Humans can do better than this.

[@piccalillipit9211]

*I LIVE IN BULGARIA* I work part time, I live on my own in a sea front apartment, it costs me 23.5% of my monthly income...

[@judymeyer4315]

can't do that in The USA

[@lindastruckus776]

Us fifty years ago!

[@piccalillipit9211]

@@lindastruckus776 - Property is only expensive cos the government restricts the availability of building land. WHY? Cos rich people own the existing property and their wealth is tied to the value of that property. If the government opened up enough land for another 20 million homes the price of a house in the USA would be the cost of the bricks and mortar... Here in Bulgaria, they had communism, they just built houses and apartments for everyone. 85% of Bulgarians own their own home with no mortgage. 70% of families own a second home in the family's village that they visit for the weekend. Terrible that communism where everyone gets a house without a lifetime of debt. Anyway - there is a surplus of housing here. So its dirt cheap.

[@piscinediquinto]

Keep up the good work Richard, here in Italy I haven't been paid since December 2020, the Italian government closed our business and gave us nothing, Mario draghi ex european central bank boss run Italy, another tecnocrat, we havent had a democraticly elected leader for over a decade, no money, disaster

[@PonziZombieKiller]

This shit is fixing to blow up. good bye cruel world.

[@gamingtonight1526]

America collapses, the world collapses. Well, the Western world maybe, not Third World countries.

[@sdrc92126]

Fiat currencies have a perfect, 100% failure rate since millions of years ago. Every single one fails and have a tendency to take down civilizations as they go out. Look at what Rome did. Fiat money only lasts about 50years. I wonder what happened to America fifty years ago?

[@sdrc92126]

@@gamingtonight1526 I've lived in third world countries. Except for some very primative peoples, EVERONE is dependent on oil in some way or another.

[@TheHarbinger82]

@@sdrc92126 The Powell Memoranda 1971. I had just returned home from RVN

[@sdrc92126]

@@TheHarbinger82 The American fascist would prefer not to use violence. His method is to poison the channels of public information. -- Henry A. Wallace

[@lioneljaftha3473]

Amen Richard. Almost impossible to change the evil when the rich and the politician's have the same agenda. Why would they tax themselves?

[@hlwonka8783]

Why no action is taken against the ex Ceo & their goons but Amazon only..?

[@tapptom]

The same reason buzzy Krongard at the CIA got away w it!

[@notabene7381]

The king can do no wrong.

[@l.w.paradis2108]

Corporations are set up as limited liability enterprises: the principals and agents cannot be held personally responsible for anything they do in furtherance of the business of the corporation. Only the corporation itself pays. This is by law. Responsibility is for peons, are you kidding? Remember BP? That CEO went on to a better job after the well blew. There was no clawback on the stock he sold a short time before that.

[@tapptom]

@@l.w.paradis2108 indeed the SYSTEM is broken

[@hlwonka8783]

@@l.w.paradis2108 The system had to change so as they are held liable & accountable ; only then there is improvement.. Many super rich still super rich but the lower levels suffer because they are not accountable for their action. Somethings is very wrong.

[@aaabeverages7152]

Totally agree100%. I had female friends who were working in Florida for 4.91 per hour. + tips. The tips were in 5 hours were about $ 35 on average off season. Some were paying child support and had whole paychecks taken out. This country's laws are absolutely archaic. One had to go on disability and has to survive on $384 month with 50% taken out of her disability assistance payments

[@MQTAful]

Yes, we are setting ourselves up for Donald Trump on steroids.

[@alexanderb7721]

Technically Trump that run again so he could legitimately return. The thought is disagreeable.

[@dinnerwithfranklin2451]

And apparently the dems don't believe it. At least judging from the promises that they have already reneged on.

[@Shelora]

Not just Donald Trump, GOP Fascist control of all three branches of government. Joe Biden has already put the death warrant on Democracy by feigning to obey “due process” and not even TRY to pass the $15.00 minimum wage which VP Harris could easily do by overruling the “parliamentarian. Joe Biden to Wall St.: “Nothing will fundamentally change.”

[@bg3160]

@@Shelora Wait, who has control of all three branches? Executive, Democrats. Legislative, Democrats, and technically, Judicial is independent. Slight conservative majority, but we've seen that doesn't make much difference. Oh, and VP Harris can only break ties when enough democrats support something. Even the democrats don't support $15 per hour at the national level. Biden can't get it through because his own party doesn't support it. Any fool that believed the promises made in the election were fools.

[@RussCR5187]

@@bg3160 "who has control of all three branches?" The moneyed elites pretty much control everything: elections, congress, judiciary, and mass media.

[@davidotness6199]

This is one of your best, Professor Wolff. Laser-like, aye.

[@tapptom]

Pope Francis just made an interesting comment: “prayer lifts us out of spiritual laziness to help others”…. If it were only this easy.

[@whygohome172]

I'm not seeing lazy.....I'm seeing DESPERATION.

[@patrickvanmeter2922]

@@whygohome172 Pray for what?

[@skonther0ck]

Usual papal bs

[@RussCR5187]

I think religion tends to kill independent thought. On a certain day of the week, such people go to their special buildings, find a seat, locate the nearest hymnal, sit back and think, "Ok, I'm ready. Tell me what to think."

[@whygohome172]

@@RussCR5187 i thought they were thinking...ok NOW I am SURE to have a place in heaven but let's hurry and get this over because I got some SINNIN to do!!!!

[@danielfixborn5860]

Wow! Good and necessary content. Helps to understand how the things are going... Hugs from Brazil!

[@TheJayman213]

WORKERS'👏RIGHTS👏ARE👏HUMAN👏RIGHTS👏

[@swthihi]

There should be a profit cap... not because to share wealth but to share opportunities... it’s a good way to tell big corporation to do social good by sharing opportunity, lower prices, paying workers better, or sharing with the community.

[@Alex-tp5qk]

You've just provided a very accurate description of slavery. Prepare for the worst!

[@lorrainewest7408]

We are, many of us around the world being like fish, being netted up into economic enslavement.

[@thestreamoflife1124]

Love prof Wolfe. He keeps it real although scary. I see no CHANGE coming

[@fereshtehabadi1455]

March 8, International Women's Day is approaching and hope Democracy At Work will have program about women. Thanks

[@LordKorgyab]

Thanks for the update professor Wolff 🐺

[@Jimi_Lee]

We need a clearer definition of what a small business is. A mom and pop operation is a totally different animal than the high end of the small business category. It's not just the number of employees that seems relevant. That's apparently the only criteria, whereas revenues ought to be a determining factor. Things like that, and how they calculate the employment rate don't reflect the reality most of us occupy. No wonder they always come up with the wrong solutions to our problems. Garbage in, garbage out.

[@Jimi_Lee]

@Peter Brown So true.

[@atomiccritter6492]

you use employee numbers, land area owned and turnover combined to determine the size of a business

[@Jimi_Lee]

@Vicky Zabaras 👍

[@josebless5152]

Great conversation and resolutions Wolff, appreciate you ✊🏿

[@user-wp8yx]

The problem with his stock idea is is going to be a loophole and a pit fall. The loophole is Rich folks aren't going to have to pay the tax. The pitfall is poor folks aren't going to qualify for the deduction. It seems like a simpler idea just to impose a progressive income tax and reinstall glass-steagall. the progressive tax will fix income inequality and glass-steagall will fix market speculation.

[@Brynden-Rivers]

Saw this guy on patrick bet david and he almost convinced me in one hour we should be socialists, lol. Maybe im just easily convinced but richard wolf is impressive guy and we should implement his policies. I especially like his fuedal, slave, and employer explanation.

[@kevinrobb86]

One of the most technically advanced countries in the world being governed buy a bunch of geriatrics and those are not are just grifters

[@thenapoleanbuonappetito]

Thank you for all the great information as usual!

[@4BetaMale2]

3:16 That would be because the politicians have neutered the system to the point of uselessness. Remember government is not the problem the politicians are! 😵

[@The.world.has.gone.crazy...]

@Janet Baker it's the working class that pay politicians true taxes, wright ? 😁

[@lorrainewest7408]

@Janet Baker The pen is mightier than the sword, and the evil little devilments are all aboard.

[@thomasconway5342]

Thanks for the great job explaining simply how things can change if we want them to, look forward to you're weekly info/tutorial show

[@ZeitgeisterOm]

Here's something you hear a lot. Say what you will about capitalism you cannot deny its lifted people out of poverty. I hear that all the time especially when I'm talkin about Rising inequality and the vanishing middle class. The rates of extreme poverty we are told have plummeted under global capitalism. We are told that under global capitalism has cut poverty by 80% or 90%. This reminds me of my mother when ever I ranted about how bad the situation was today she would tell me about how much worse the situation had been before. she would tell me be grateful for the improvements Richard she would say. I wasn't convinced then and I'm not now. These champions of capitalism are slick I'll give them that but here's why they're wrong. Their clever math comes from how they Define poverty. According to the World Bank anyone making a dollar 91 cents a day is considered poor. everyone else is okay but that number isn't actually based on the living cost of any actual person it's totally arbitrary. could you live on a dollar 91 cents per day the United Nations doesn't think so they say everyone would need at least four times that $7.40 cents per day to get the absolute minimum for quote basic nutrition and normal human life expectancy. Using this more realistic number. The number of people in poverty has actually increased over the last four decades to a whopping 4.2 billion poverty has gone up not down. But hey at least a proportion of people in poverty has gone down they might say. what's actually the reason for that? was it really capitalism that was our knight in shining armor as a matter of fact almost all of that reduction in poverty has been in one country China. not in the countries where American style capitalism was exported. China accomplished this massive government Industrial spending and social programs that it calls socialist with few exceptions most of the world has made very little progress in reducing poverty. if you exclude China then not only the number of people in poverty has increased but the proportion of people in poverty hasn't fared much better ticking down a measly 5.4% over 40 years. at that rate experts project it would take more than 200 years to come close to eliminate Global poverty and that's only if there are never any recessions. that's only if the global economy manages to reach 173 times its current size. no one expects either of those things to happen. Already the crisis caused by the coronavirus pandemic has made years worth of poverty reduction useless a hundred million people has fallen right back into extreme poverty. But the problem isn't the viruse. viruses come and go. The real problem is the system. A system that implodes every 4 to 7 years pushing more and more people into deep poverty and which has absolutely no protections for ordinary people when it collapses. Even the Defenders of the system have started to admit just how flawed it is. The world bank itself now says that reducing inequality by just 1% a year would lift more people out of poverty then increasing economic growth by 1% above current forecast. That's not to say some things haven't gotten better but where they are is because of ambitious government programs. that's why Cuba a known socialist country under a decades-long embargo has lower rate of infant mortality a higher life expectancy and a higher rate of literacy then the richer countrys. That's also why the countries with the lowest poverty are places like Denmark and Finland it's no mystery no Advanced economy has ever achieved low poverty rates without high levels of government social spending. The fact is capitalists have always fought against those policies against progressive taxation against minimum wages against social welfare programs against Union bargaining. poverty has been reduced not by capitalism but in spite of an against capitalist oppositions. so it's not just that capitalism doesn't fix poverty it plunges more and more people into desperation. so that the system can survive. the rising numbers of people in poverty can attest to that. Despite what the inaccurate statistics might suggest as long as we have a system design around Profit that won't change Richard Wolff

[@allypoum]

Hell yeah you should do your own podcast fam.

[@ZeitgeisterOm]

@@allypoum you really think I should do my own podcast Richard wolf already does his own podcast my writings are not as good as his I have come to the conclusion the capitalist system is the root cause of most problems we see today. The capitalist system drives human behavior. At the heart of the capitalist system is the constant programming to consume. A system predicated on infinite consumption assumes that we live on a planet with infinite resources. This is where We call the current capitalist system unscientific because we live on a closed system on one planet with limited resources. if it's one thing science has learned recently it's that human behavior is directly affected by the environment all the way down to your DNA coding your DNA will not activate unless certain events happen in the environment. We are not built a certain way humans are extremely malleable especially in our behavioral tendencies. this is why I think capitalism has to go it is the overarching system that drives human behavior at this time I'm looking at the history of capitalism built by the elites and serving them to this day. Any system where you're forced to submit your labor for income is really not that far away from being slavery. We've taken into account capitalism has long history of failure going back it has a trend of depressions or complete collapses we all know about the Great Depression of the 1920s more recently there was the .com crash in the 90s and the 2008 recession and most recently the complete failure of capitalism to cope with the Coronavirus. These champions of capitalism are slick I'll give them that but here's why they're wrong. Their clever math comes from how they Define poverty. According to the World Bank anyone making a dollar 91 cents a day is considered poor everyone else is okay but that number isn't actually based on the living cost of any actual person it's totally arbitrary could you live on a dollar 91 cents per day the United Nations doesn't think so they say everyone would need at least four times that $7.40 cents per day to get the absolute minimum for quote basic nutrition and normal human life expectancy. Using this more realistic number. The number of people in poverty has actually increased over the last four decades to a whopping 4.2 billion poverty has gone up not down. the main problems we find with capitalist system is it has no connection Public Health it has no sustainability standards built within. Capitalism constantly drives people towards a selfish greedy behavior. Capitalism is directly responsible for us having a classist Society where there is different tiers depending on your wealth. we know through science that when wealth is more equally distributed the health of a Nation is enhanced. Capitalism doesn't seek to equally distribute wealth it doesn't seek to take care of basic needs like food water and shelter Medical needs. We need a new Economic model based in science and meeting the needs of people While maintaining Environmental Balance Solutions to the problems created by the capitalist system entail democratizing the workplace it's time that we put decision-making power back in the hands of the workers. Worker cooperatives will be key in reversing top down control structures. In worker cooperatives decisions are made from the bottom up. We need to remove the Money system that the Elites have used against us for so long thats there tool . The new Economy will be about resources. Creating Access Abundance With our Advanced Knowledge We can do more with less. In the new Economy All resources are Accounted for. all people would have the Ability to see just how much clean water we have on the planet. We can make Public the resources of our Planet for the benefit of all our people.

[@atomiccritter6492]

Say what you will about capitalism you cannot deny its lifted people out of poverty. --- has it?

[@AlmalikyAli]

I solute the objective presentation of a complex subject...

[@4BetaMale2]

24:00 What happens when people can no longer afford to buy objects? The smaller companies will go out of business and job loss will escalate. What happens to the Walmart? Do they leave American and head for greener pastures in countries that can afford them?

[@bg3160]

Interesting point. Walmart relies on goods from China. A completely socialist economy that practices in some cases forced labor. So, the socialists enslave their own people to suck off the capitalists. Quite a dicotomy.

[@lorrainewest7408]

@@bg3160If you are describing the dilemma of events in Texas with power, being facetious has been cause & result of the dim witted and lights going out. Having to pay thousands for a households electricity for a week, how Crapitalist can you get.

[@bg3160]

@@lorrainewest7408So, you take a once in 500 year storm that causes power outages as an example. Interesting it's got to be that extreme, but whatever. Remember California about 15 years ago when they had rolling blackouts and outages. Not even a storm in those days. They (California) hadn't built a power plant in the state in 2 decades. Something went wrong and the whole thing fell apart. The power from outside the state went up in price astronomically and the socialist politicians didn't know what hit them. Texas went totally capitalist, which implies risk. the risk of a week long storm was outside their planning. Would socialists have done better? California still runs on a very thin line with the most costly electricity in the nation. Which is worse, cheap power most of the time taking a risk, or super expensive power ALL OF THE TIME still taking the same risk? I'll stay in Texas.

[@ficanning6135]

Thanks Richard. Love your work

[@DavidScovil]

The systems like a house of cards built in a minefield!

[@swayback7375]

Best info on YT

[@akavienne]

Isn't a tax on stock transactions what Bernie Sanders proposed to help pay for one of his programs?

[@jamesbarthel2937]

Excellent intriguing counter arguments to the conservative position. Arguments that can be worked on by both sides... and delivered without once resorting to identity politics. You have my respect and admiration.

[@ramonng7054]

Wolff is just too smart for government not to hire him, or at least listen to him..

[@kayakMike1000]

If you think Wolff is smart, you're easily fooled.

[@drakekoefoed1642]

too smart for them to listen

[@buzzblitzer750]

Agreed..any corporate contribution to congressmen & women should be criminalized. The fines should be in the billions for corporations & millions for thieving politicians.

[@oldfan1963]

I remember the days when credit card interest was deductible from income tax!!! Ain't THAT a hoot!?

[@Velveteenvision]

Thanks for your hard work Richard!

[@svendbosanvovski4241]

Viewers of this channel will appreciate Ken Loach's new film "Sorry We Missed You". It demonstrates how escape from wage slavery into the gig economy induces a more pernicious form of slavery.

[@theresabarzee1463]

Perfect! How to get our "progressives" to share these expectations you delineate? We vote for you when you understand this talk? One at a time! This is then scored. By senator, or representative along the choice arguments for each talk that we value the most. Our most important, say in ranking top ten. And we share it around. On our programs on our airwaves. Who understands which?! Which we give $5/month to these talks for all of us!? From each of us. Let's start. All Prof. Wolff's books shared. Books for the libraries bc we can do interlibrary loans from them...and buy the books for all of us this way! Thank you, sir. Our education is expanding with each talk! Love your work.

[@saajanabraham419]

Actually if the govt is sincere they can do a lot to help the small & medium businesses like what the prof has said giving different tax breaks so that their business will also become viable & it will enable them to pay decent minimum wages to their employees. But capitalist govt the world over are not interested very much in propagating it because it is only big business that can line the pockets of politians

[@danieljones26]

Yes. I am interested in these issues. And Yes , I feel well informed about them, by Professor Wolff, in this presentation. Thank You, Professor Wolff, for making the effort here, to help me know more about "Stock Transaction Taxes" and "enabling increased prosperity of "Small Businesses" through a better percentage of government procurement, reimbursement subsidies and tax breaks. What works well for the "Big Guy" should also work well for the "Little Guy". And doing this would serve well the Worker too...since there are so many Employees Working in the Small Business Entrepreneurial Strata of Our Economy...a percentage that seems to be increasing as the corporations "outsource", "automate" and shift "up" into the speculative aspects of Capitalism. Families in the shelters? Besides this being a result of corporate and Oligarchic manipulations of Our Economy, it is also a product of having too many Children in relation to One's income level. We al have Our Responsibilities.

[@robertcox14]

We should lower hourly wage for lawyers to $15.

[@bg3160]

then who would sue the rich people?

[@ongallianz]

Thank you for sharing, Mr Wolff

[@88232964G]

Listening to this minimum wage argument I'm quite disappointed that everyone in Americaeven Richard wolf, leave out the most important argument and framing. It's this... Small business' benefit from a minimum wage increase! What? How? As we know that low and middle income spenders spend more a a percentage as oppose to save if given money (as they don't have much choice), as oppose to the rich who are more likely to save that money and stash it away from the economy. Additionally, a long time ago the head of GM wanted to give employers an 8 hour work day. His theory was that workers are also consumers and if you give them time to spend they will spend. This theory worked wonders and helped everyone including small business' and that them working less actually helped business' not hindered them. So what does this mean ? well, The same can be said about money. If people have more disposable income and we know they are more likely to spend it as a percentage, they are more likely to spend it in the local economy and help small businesses. When people are starved of cash they are more likely to only spend on necessities like the supermarket or big companies that have the advantage of economies of scales as well as business' practices where they pay workers in developing nations so they can have prices low enough for people to spend. So when consumers have more money to spend i.e an increase in the minimum wage they will spend it in the economy. Sure a small business might have increased labour but he is also more likely to have a bigger increase in sales to compensate and this benefits the local economy. This has been proven time and time again to work. As someone who lives in Australia and has a high minimum wage, we have low unemployment in part due to the lower class and the middle class having disposable income. The local community benefits! Don't let them frame it like it's an expense. People could say the same about GM's decision to introduce an 8 hour work day, and look how it's proven everyone wrong. Give people money and time and they will spend! Everyone benefits

[@atomiccritter6492]

we should be aiming for a 3 hour day at most

[@bg3160]

Perhaps we should have him run a small business and come back in 5 years with actual experience instead of baseless theories. You know the drill, those that can, do, while those that can't teach? Ever seen a socialist telling you how controls benefit business, actually run a business?

[@88232964G]

@@bg3160 how is it baseless? It's been proven time and time again whenever wages grow and disposable income increases, small businesses benefit. I mean every other develop nation has proven that. You know people exist outside of America right ? We weren't created to gaslight you into increasing wages ahah What does seem to be baseless is all the fear mongering to small businesses that if you give people money they will spend less money and businesses will lose jobs. It's like what!? Any form of common sense will show you that an increase of money circulating around the local community is nothing but a benefit to small businesses. What isn't beneficial to small business owners (SBO) is starving people of money through starvation wages and then wondering why they aren't going to your store. C'mon mate sharpen that saw. Your brain seems to be quite slow. Why wait 5 years to prove you wrong again when I got hundreds of years of events that's prove me right. Anyways wake up those brain cells.. Give me your best argument. I'm sure you have more intelligence than you appear I really believe that. I learn from peoples experiences and their stories and I know you can give me something better.

[@lorrainewest7408]

@@88232964G Some people have dollar brains & no sense. Thus the likely end of US Dollar forecast in time. That mindset.

[@bg3160]

@@88232964G Why don't you go run a business and survive $15 minimum wage when the labor is only worth 10. I keep hearing about all this good stuff about how it benefits business, prove it. Do it your self and quit debating.

[@andrewsullivan3874]

Thank you! I've thought such subsidies for small businesses were a possible solution to any potential burden for them from higher minimum wages. You confirmed my supposition.