Enemy of Capitalism: Capitalists

Senator Bernie Sanders recently came up with a new business to attack: Amazon. Sanders said Amazon didn't pay its workers enough and because of that, many qualified for government assistance.
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At first, Amazon CEO Jeff Bezos defended his company.
That was the right thing to do, says John Stossel. He notes: "It’s not companies' fault that some workers qualify for handouts. More people would collect them if Amazon were not hiring. By creating jobs, Bezos gives workers better choices."
But the media rarely mention that. Instead, they bombarded Amazon with negative coverage.
So Bezos caved. He declared that all Amazon workers would now all be paid $15 an hour or more. That higher wage sounds good to most people, but Stossel point out that while the higher minimum is good for workers who have jobs now, it can shut out beginners.
Kelsey Holder (now Kelsey Turner) started working at age 13, for minimum wage, at Mossman's Coffee Shops and Catering Company in Bakersfield, California.
By the time Stossel interviewed her in 2010, she was making $20 an hour. She told him: "For being only 13 ... minimum wage was fine. If you work hard, you can make more, it's just you have to prove yourself."
The skills she learned through work -- even at minimum wage -- served her well. Kelsie is now the restaurant's manager.
Had the minimum wage been higher when she started, she may never have gotten that opportunity.
When Amazon sets a high minimum wage at their own company, Stossel notes, at least unskilled workers can find jobs at other companies.
But Amazon did not stop there. It has also begun lobbying for the government to force all its competitors to pay a higher minimum wage.
That could help Amazon, Stossel says: "Amazon’s already replacing workers with robots. Bezos knows a higher minimum wage will hurt his competitors more than it hurts him."
Amazon often tries to get favors from government. It didn’t just announce a second headquarters. It started a competition to see which politicians would give it the largest tax incentives.
"Give me a break," Stossel says. "Politicians shouldn’t pander to companies, and companies shouldn’t pander to politicians. I wish Bezos would stick to innovating, not scheming with politicians to get special breaks. Some of the worst enemies of capitalism are capitalists."

[@WarningStrangerDanger]

You have to ask yourself, why do the richest Americans advocate so hard for high taxes, tighter regulations, more socialism, and less freedom? The answer is not "kindness."

[@XChristianNoirX]

What is... CONTROL

[@GretchentheAlligator]

They want to own us

[@markflierl1624]

Stossel answered your question at 3:30.

[@midmichiganrr24gp9]

because large corporations can take the hit whereas small and medium size companies can not. It squeezes out competition.

[@ferraridav]

EBE The answer believe it or not, is greed. A lot of these people believe in demand side economics. So the idea these rich corporatists have is tax other rich people (not themselves of course), give that money to the "poor", and the poor will in turn buy their products, effectively giving that money to them. Theres some sense to this since (statistically speaking) the poor dont save excess money nor invest in improving their abilities/condition, but instead buy consumerist crap that they dont need, cant afford, and dont improve their lives.

[@mrburns366]

I can't believe John is 71! He's aging remarkably well!

[@shragamildiner8472]

He is??

[@GHotSauceAnd1]

Are you serious?? I thought he was early 60’s MAX.

[@venglomarci]

You are right! He looks like he could be 50 something

[@emperorantarctica6210]

He is 71? I thought he was way younger. I thought he was maybe around his mid 50’s

[@aerospaceracecraft8954]

I think it’s 90% the mustache😂

[@jeffpadilla9891]

Why do they act like entry level jobs are a bad thing? This is so crazy.

[@gblargg]

Because everyone working has a family with two kids they have to support. /s

[@dindi6986]

@@gblargg So its better to give him free social rather then open oportunities even such as low paid job so they can gain expirience and get pay more later? You, my friend, want stagnation, not progres and better future for those people.

[@gblargg]

The /s means that the previous text was sarcasm.

[@SgtJoeSmith]

@@gblargg yeah thats the problem though. every time i tried to promote and pay an employee more they quit. they refuse to leave their easy entry position. i tell them if you arent going to work your way up in the company then dont waste my time. im not getting younger. so they quit to do entry level work somewhere else. they dont want to work harder for more money. they just want more money for same thing. well i can only charge so much for a car wash other wise customers wont hire us. rebuilding transmissions though i can pay $80 an hour cause i charge $150. no one gonna pay you $80 an hour to hose off a car with the garden hose though.so if they just want to stand and hold their dick and do what a 12 year old can do they gonna get paid like a 12 year old. even if they are 45 with 5 kids.

[@YesuAiNimen]

@Poltiticslogicallyreformed. Amen

[@woods.water.123]

Enemy of capitalism : monopolys hiding in plain sight

[@woods.water.123]

@Oritra Kar most civilizations only last about two and a half centurys

[@Frankthegb]

Looooool no, capitalism literally benefits from monopolies. Monopolies are enemies of the _people_

[@JesusGodHolySpirit3]

Fuck Amazon I don't buy from them! I will go another route! AMAZON ISN"T CHEAP!

[@vincentpresscod7531]

But Amazon isn't monopolist, is it? Now, at least, it doesn't seem this way.

[@logantaylor8965]

When AZ raised the minimum from $8.05 to $10 overnight my boss cut everyone's hours, which made everyone's shift drastically more difficult, not to mention I was already making near that $10 an hour because I worked hard and earned raises. I didn't get a bump past the $10 because my boss was already strapped paying his employees, and I ended up really making less because everything else got more expensive. I was essentially making less money and working even harder. That place was out of business within a year of the wage hike.

[@randomguy9483]

There are both pros and cons to minimum wage just like you said.It does indeed reduce entry level jobs.

[@Maximara]

Adjusted for inflation 1968's minimum wage of $1.60 is equivalent to $11.37 in 2018. If you can't pay the equivalent of 1968's minimum wage you are doing something wrong ie hiring too many people, running the business ineffectively, or a dozen of other things.

[@randomguy9483]

@@Maximara why did you pick the year 1968? Why not any other? Well in any case i understand your point. www.aier.org/article/what-should-minimum-wage-be. This is an interesting read.

[@logantaylor8965]

@@Maximara I mean I guess its comparable comparable to the 1968 minimum wage but that doesnt change the fact that most people working there weren't even worth the 8.05 an hour. I am not a huge fan of even having a minimum wage.

[@Maximara]

@@logantaylor8965 So you would like to live in the dystopian mess that existed before the minimum wage exist ala _The Jungle_ or _Midnight is a Place_ ? The minimum wage should be a "living" wage ( provide enough to have a roof, utilities, and food) and even the $11.37 adjusted isn't enough.

[@Acesahn]

Enemy of Capitalism: Corporatism. Fixed your title for you.

[@dsuess]

Correction, you mean folks like Sanders

[@nobilesnovushomo58]

Corporatism loves socialism.

[@JAG8691]

@@nobilesnovushomo58 Who do you think enables Comrade Sanders to buy his mansions?

[@toorimakun]

Yep, But people STILL haven't figured out that corporatism is a completely different system from capitalism. Corporatism is actually closer to socialism if you ask me..... same exact flaw in both of them: All the power is at the top.

[@JAG8691]

@@toorimakun Agreed.

[@TheSupersayin2]

Alright I'll like to say this, I'm 25 without a college degree. I started when I was 18 at mcdonalds for 7.25 and then went to a grocery store for 7.50 then to walmart for 7.95. At each job I worked hard and proved myself. By the time I was 20 I was making 17.50 an hour from another company. I stayed at the company for almost 4 years and left last year making 18.70. I now work for another company making 55k+. My point is I worked hard got experience and found better jobs, I didnt complain for better pay I showed I was worth more pay. I just worked hard most of the time that's all it takes, hard work and good attitude. (P.s. no I never made it to any management positions all my jobs were technically entry jobs.)

[@FadeHook23]

Mythickillz anecdotal evidence doesn’t make your claim anymore valid.

[@TheSupersayin2]

@TheDarkKnight I didnt see your message. Try looking at jobs as vendors, fritolay, coke, pepsi, and others. I mean even walmart gives most department hour managers anywhere between 13 to 15 an hour. At least in indiana.

[@Libertad-xi1ey]

I admire your attitude. That is the way to go. Work hard and stop expecting handouts. Congratulations!

[@gamingllama7464]

You sir is the kind of person I respect most in this world. I applaud you for your success and you should keep working hard at what you do. Well done

[@TheSupersayin2]

@@gamingllama7464 thanks, I wasn't trying to brag to anyone. I live in a tiny town in Indiana. There are quite a bit of jobs that pay over $15 out here now. Alot of factories.

[@matteo8080]

"I can't get someone to voluntarily pay me a wage i want, so i demand the government point their guns at them and force them to!"

[@asillynertasillynert2204]

The irony was when someone pointed out bernies staff wasn't making 15hr they then cut hours and cut staff. To make it so yay were paying 15 but wait didn't you say places wouldn't need to cut hours/employees it was very amusing. The thing that gets lost in this discussion that no one brings up why are so many employees NOT on welfare I mean its not a living wage right. Wait you mean to tell me they live within means. And that people on welfare are having kids and doing other things despite knowing they are not financially capable of supporting kid themselves.

[@georget8008]

Or... I demand from the govt to hire me in a public sector job. Once i am hired i put pressure for salary raises in the public sector. Since the govt is not an entrepreneur seeking profit, they have to consider the following: If they give that raise, they won't have to pay it out of their pocket but out of the Treasury Dpt's. Plus, they will make me vote for them in the next polls. If they don't give that raise, i will vote for their opponents in the next polls. What would you do in the govt's position?

[@pepsicola6951]

"Cant get ppl to pay me what i want, so the govt needs to come and point their pistols at them"

[@gblargg]

And "It's illegal to pay less than minimum wage, because the workers can't make enough to survive, but it's fine to go out of business so the workers make $0 an hour."

[@Brianbeesandbikes]

My rebuttal to TOSSEL "THE TOSSER" >> What labor market changes have generated inequality and wage suppression? Employer power is significant but largely constant, whereas workers’ power has been eroded by policy actions. " Labor markets in capitalist economies are fundamentally tilted against individual workers’ ability to bargain effectively with employers. Policy does not have to be rigged FOR employers to give them particular clout in labor markets; instead, the very nature of these labor markets gives them clout." From Economic Policy Institute article www.epi.org/publication/what-labor-market-changes-have-generated-inequality-and-wage-suppression-employer-power-is-significant-but-largely-constant-whereas-workers-power-has-been-eroded-by-policy-actions/ Why Aren't Wages Keeping Up? It's Not The Economy, It's Management " 40% of Americans had trouble paying for food, medical care, housing, or utilities in the last year. Nearly half of Americans have no retirement savings, creating increases in stress-related illnesses and heart disease 63% of Americans do not have $500 of cash on hand to handle emergencies or other significant expenses 70% of college grads have $15,000 or more of loans outstanding in their first year of work 4 in 10 Americans now have a “sides hustle” to make more money to help make ends meet[9] Employers like Wal-Mart, McDonald’s, Ubers, and Outback Steakhouse are now building programs to pay people every day, so they can better manage their cash." From Forbes article www.forbes.com/sites/joshbersin/2018/10/31/why-arent-wages-keeping-up-its-not-the-economy-its-management/#58b0980e397e

[@jackmeoff8953]

Why should an unskilled worker get the same wage as a skilled worker?

[@jackmeoff8953]

So what you are telling me is that I skilled and trained nurse gets the same pay as an unskilled and un trained McDonalds' hamburger flipper?

[@justinwright1745]

@@KevinJDildonik A cashier or a burger flipper isn't a 15 dollar job. All that does is raise prices lower jobs and move people out of the area

[@skapunkoialternativeliving6522]

That's why I would steal from you and Rob you blind to make up a difference believe that I would rub you

[@ferraridav]

Jack MeOff Because having 3 houses (including a lake house) paid for by the tax payers is a HUMAN RIGHT!

[@PerfectBlue7]

you paid unskilled a decent living wage ($15) and the skilled is paid more. simple.

[@auspicious6554]

The day after the $15/hour minimum wage got voted in for WA, my boss, a restaurant owner that employed 4 people, cut everyone's hours by a third.

[@bradhaines3142]

suprised they cut that little to be honest

[@Defrap22]

Just get a second job with less hours and youre back working as much as you used to while getting paid more

[@paulsiangg456]

@@Defrap22 Sarcasms or realism?

[@notchbeard9007]

@@Defrap22 Gotta love idiots like you. These min wage hikes don't help anyone, all it does is give sellers the ability to raise their prices phenomenally and pay their non-minimum employees less. I am a Manager at one of the Corps being discussed in the video. All $15 an hour will do is give me less people per day to achieve the same tasks while I get no raise in pay relative to the increase in min wages. So my job is now more difficult while giving no additional pay and demotivating me from even trying to climb the ladder of success when politicians are just going to erase my wage gains. Seriously considering going back to an entry level job because the pay is no longer worth the stress.

[@LoggyWD]

What were you paid before? $10/hr? If a restaurant can run equally efficiently with 2/3 of its employee man hours, that shows you how bad the business was.

[@davidpowell2247]

When the minimum wage goes up, so does inflation. Making my wages worth less.

[@Kenneth2413]

Yes and no. In the absence of additional regulations yes it would. However, if a regulation was passed that no employee or independent contractor that works for a company can make more than 200x what any other employee or independent contractor makes at that company ( not counting partial ownership of the company or intellectual property), then your pay would be able to buy more. Companies didn't used to pay their employees so much less then their ceos. When the pay was closer to the employees everyone else made more ( adjusted for inflation).

[@IrelandVonVicious]

@@Kenneth2413 yep. Maximum wage is a better idea.

[@michaelgray1803]

Who cares everything else is going up businesses have to make a profit but pocketing billions while paying minimum damn I've heard of the lions share but not the whole carcass

[@princessmarlena1359]

Kenneth2413 I heard they did that in Japan.

[@IrelandVonVicious]

@Madubuko Ubesie only if it's a hard cap. As something that has a cap and then goes up as a percentage of employee pay roll would allow motivation to work harder.

[@DadBodDrumming]

Capitalism, leads to Cronyism when Govt gets involved.

[@theburners32141]

A more correct statement would be “When government gets involved in free market capitalism, it creates cronyism”. Are you a socialist? Because your statements reads as such.

[@gblargg]

When government is involved it's not capitalism, just capitalism-flavored socialism.

[@revdraco]

Hence, Ringo's Law: Everything government touches turns to crap.

[@kimobrien.]

@Human Resources Socialist want to overthrow the capitalist state and replace it with workers control of industry like in Cuba.

[@kimobrien.]

@@gblargg Capitalism need a strong centralized national state power.

[@n9wox]

Amazon's $15/hour minimum wage came with a price. They lost their stock options.

[@lenblack1462]

I doubt many were taking advantage of that.

[@n9wox]

@@lenblack1462 Why not? As long as the stock price has risen from when the options were awarded, you can do a cashless transaction and reap the earnings.

[@muslimmetalman]

That's capitalism for you. The "wage raise" was a PR stunt on Amazon's part.

[@n9wox]

@@muslimmetalman $15/hour with pressure from America's favorite capitalist, Bernie Sanders

[@anim8dideas849]

There still there switch brokers

[@sdushdiu]

The minimum wage is simply another barrier to entry for small businesses protecting established companies.

[@chaunceystewart9960]

100% correct!!!

[@norsefalconer]

1099, just sayin'

[@sdushdiu]

@Dark Horse A business can pay anything they desire. People then have a CHOICE and a responsibility for the choices they make if they choose to work there. Stop raising self-entitled victimhood to an art form.

[@sherifatew4894]

Dude which america do you live the era of the small businesses are long gone they are relegated to strip mall s.

[@razerfish]

@Dark Horse Who are you to decide why a business should be there? And who are you to get in between a willing employee and an employer, you snob. Would you rather that person starve so you can feel good about yourself? Free to choose means you don't get to impose yourself on others.

[@stvargas69]

What does Bernie know about minimum wage? He never worked before taking office

[@cooldudicus7668]

Yup.

[@natehill8069]

..nor after

[@salvagemonster3612]

Oh he lived with his mom and ran around with a video,camera doing interviews on the street.

[@jonyjonsy]

I see a John Stossel video. I click like. I'm a simple man. 👌

[@brushcountry6361]

👍🏼

[@thagrit]

You know what you missed John? When the minimum wage goes up so does the price of everything. This makes people on fixed income have even less buying power.

[@trcy1977]

I agree. I'm against minimum wage because it's unbiblical.

[@rs72098]

You're forgetting supply and demand economics. Demand doesn't always rise when wages increase.

[@Horerczy]

@@rs72098 supply and demand isnt the only thing that effects cost. When the cost of buisness rises the cost of goods will rise to pick up the slack or costs will be cut elsewhere (usually in the form of reduced hours or fewer positions being hired for)

[@Sovereign_Citizen_LEO]

Of course inflation does that already. Economics are very complex, because it goes both ways. Realistically, we could all justify (based on inflation alone) reasonable increases in the minimum wage, -especially when employers don't give their own salary raises or cost of living increases. But on the other hand, the points you made are also true. So it goes both ways, and is a double edge sword. The only people who truly make out on top are the Central Bankers who set the interest rates, manipulate the markets, print FIAT currency out of thin air, and loan it all back to the government at interest.

[@DesiMeRollin290]

So what about elasticity? Will prices rise equally with the wage increase? What about social security increases? What about medjcare funding increases? What about all the parts of economics that people don’t consider? Supply and demand is NOT the ONLY concerns.

[@duckokido7150]

"...Hang out on the street..." *Shows clip of a drug deal*

[@TheBoxingNinja]

*play video games*

[@ITPalGame]

@@TheBoxingNinja that depict drug deals

[@sbutte1127]

But drug dealing is providing more jobs? Why is this illegal?

[@MoarteaLunii]

@@sbutte1127 😂

[@robedmund9948]

Capitalists vs. Capitalists, using Socialism to rid themselves of the competition.

[@drillbitt4426]

"Hang out on the street" SELL DRUGS

[@Eric345]

He only raised his wages to put his competitors out of business.

[@throatwobblermangrove8510]

I personally laughed when, right after he agreed to raise his minimum and got praised by Sanders, he announced Amazon will no longer be giving out bonuses and stock options as benefits. That $15 has to come from somewhere.

[@Baker.Matthew]

Throatwobbler Mangrove apparently amazon worker are ok with the cut to the bonuses. It wasn’t common to get the bonuses and people are getting paid more than what the bonuses provided.

[@Atombender]

No shit? But as long as millions of idiots buy everything from Amazon because they want cheap stuff and fast delivery, nothing's gonna change. It's not capitalism that sucks, it's the public.

[@senateboy0909]

Gotta love capitalism, stop complaining small businesses

[@pam0077]

That $15 raise in the minimum also came from their customers as well. Their Prime membership fee when up 20% soon after the hike, and i'm finding that their prices aren't as competitive as in the past. Their Black Fridays have been a joke the last couple years, but that's been true of their closest competitors as well.

[@johnnydegs41]

It's basic economics: minimum wage is a price floor in the labor market, which creates an excess supply in labor (workers) and a lower demand for labor from employers at that price.

[@stephanesurprenant60]

Empirically, the validity of this claim seems to depend on the minimum wage hike contemplated. If the minimum wage is binding, any hike should decrease hours worked in equilibrium, other things equal. But Card (1990) showed clear cases where the presumed effect was not satistically significant. One reason for this is that the model you are using is not a good model of the labor market. You need more sophisticated models to capture what is going on, such as those involving search and matching and consider explicitly how workers differ from one another. You won't ever get a situation where a sound theory implies 20$ minimum wage today would not cost jobs, longer average unemployment duration or fewer hours worked, but you might get more nuanced answers. Besides, people on the left complain about bargaining power and your ECON101 labor market model excludes this upfront. Obviously, if you exclude strategic interactions, arguments about it will never make sense. But it's understandable; unfortunately, these nuances only show up in PhD courses and never in undergraduate level textbooks.

[@whatsinaname691]

Stéphane Surprenant Tell that to the 72% of economists who believe that a minimum wage of $15 per hour is a terrible idea www.epionline.org/studies/survey-of-us-economists-on-a-15-federal-minimum-wage/, or to Keynesian Paul Krugman who had this to say about your Card study: www.americanexperiment.org/2017/07/liberal-economist-minimum-wages/. It has been seen empirically that minimum wage hikes reduced employment ftp.iza.org/dp2570.pdf, and the companies started to hire already skilled workers, keeping the upcoming ‘workers’ from entering the field. Workers also ended up making less overall, or if a select few did earn more, it was at the expense of others. With the wages up, prices went up too. While Some studies find that jobs don’t go down, or that the poor are helped by the changes, those are far out water by the vast majority of studies that run completely contrary to them.

[@sjoerdderks4731]

As it comes to job's, you have to start somewhere

[@Frankthegb]

Always have to love people who say "iT's BaSiC eCoNoMiCs" when actual economists don't even know what the fuck the economy really is

[@user-cb5fe8hp5p]

I love Johns news reports... I have watched from a kid till now.. That's a long time

[@Dark_Daedalus]

Breaking news from present day: Bernie refuses to pay staffers $15 minimum wage. Instead offers people better hours

[@ryan4327]

I would consider them more cronyists than capitalists. If either side is pandering to the other, that's cronyism, not capitalism. In fact, cronyism is antithetical to free market capitalism as it stymies healthy competition and uses taxpayer money to grease the wheels, as it were, instead of the company using its own steam to progress.

[@sdushdiu]

What? ...no mention of postage/shipping subsidies???

[@ryanscottnix]

I'm not knowledgeable on this aspect of the subject. Can you fill me in? I ask in all honesty, and with respect.

[@sdushdiu]

@@ryanscottnix This is no longer speculation but has objectively been verified. Here is one of the early articles regarding the situation: fortune.com/2017/07/16/amazon-postal-service-subsidy/ and another is www.postaltimes.com/postalnews/why-the-post-office-gives-amazon-special-delivery/ Just search on Amazon postal (or shipping) subsidies and stand back.

[@ryanscottnix]

Very interesting! Thank you for the links!

[@halasimov1362]

Yeah another example of how the ruling class manipulate the system so take away power from the people and small businesses. Amazon operated how long without profits? This is a scam suto socialism/fascism where the rullers plot to undermine our society and it will get worse as we get less power! Higher minimum wage = less power to negotiate. People can't negotiate for themselves due to media hype about job loss and the system destroying options to live cheaper so you have to play the game of the dept system! Oligarchy is the problem

[@halasimov1362]

Government with Privatization, Corporations with regulations. This is all just tax and asset protection strategy of the oligarchs. All tools of the rullers to have power over you!

[@faller006]

Stossel has become my number one youtube channel. Not even tucker Carlson can beat this guy!

[@deborahblackvideoediting8697]

5:41 - I don't always agree with everything John Stossel says, but he couldn't be more right about this!

[@davester1970]

Free market success for me, but not for thee.

[@beng4151]

Exactly. The hypocrisy is shocking. I want freedom, but only for me, and only when I allow it.

[@Soul-Burn]

When the government is part of the market, strong players will use the government to their favor. Keep government out of the market and the market will have no incentive to lobby.

[@stewiegriffinfan18]

If a company cant afford 15 an hour, it deserves death

[@mikew2610]

Soul-Burn. The government can't stay out of the market because people base their votes on politicians saying they create jobs.

[@MM3Soapgoblin]

@@stewiegriffinfan18 You really don't get it do you? The company will be fine. But if the job is not worth $15/hr, it's gone. Hence why Amazon raised the min wage to $15/hr then started replacing employees with automation. Don't want to get paid less than $15 an hour? Go get a marketable skill.

[@Wipeout6546]

lol everything is so tight that it must be only revolution/war to change this or next planets like earth

[@abhirajarora7631]

@@stewiegriffinfan18 And what about the jobs that die with it? What gives you the authority to decide which company should die or not?

[@timg185]

I’ve been to Walmart and I haven’t seen many hard workers!

[@Sol36900]

For real. Three times, we asked an employee if they can give us dog flea medicine since they have the stupid locks on them. All three never returned! Most Walmart employees are a joke.

[@godbless6939]

Isn't that the truth

[@jpete3027666]

We need an economy where minimum wage jobs are entry level jobs and people strive for an get better careers with experience and education.

[@sdushdiu]

How did Bernie become a multi-millionaire without a real job?

[@chieftp]

how did Bezoes become a multi billionaire without a real job?

[@sdushdiu]

@@chieftp What? He started a company, dimwit.

[@chieftp]

that makes him an entrepreneur - NOT an employee. he doesn't have a "job." anyone can tell you that you'll never become successful nor wealthy by working a "job." that's why Bernie doesn't have a "job."

[@islandbee]

@@chieftp - It was a job for Jeff Bezos. He did a lot of the delivery in the beginning to build the company. Bernie Sanders has always been a public servant, yet is worth millions.

[@chieftp]

1) how do you know what Bernie Sanders net worth is? 2) he has a "real" job (unless you don't consider being a US senator to be a "real" job) 3) a net worth of a million dollars is not very impressive, a million dollars ain't what it use to be 4) a 77 year old being worth a million (or millions) is not very impressive 5) a US senator makes $174,000 a year 6) is it somehow wrong for Bernie to make a living and have a high net worth? 7) what does Bernie Sanders have to do with this video?

[@Cyberviper8]

15 would and will become the bottom and the top. The dumb don’t know that once 15 becomes the minimum overnight all prices will rise making 15 seem like 10 again.

[@chadnoneo9769]

Or that's not exactly how it works. The average wages of US workers have been stagnant for decades. What would happen is SOME prices would go up a bit, but it won't be as much as you think. Also with more money being paid to workers, more stuff will be bought so they will make up a lot of the costs just on increased sales. The average low wage worker spends MORE than what they receive in pay.

[@bigboi6673]

There's no evidence that that happens, it's entirely theoretical. And like the user above me said, when you raise minimum wage, spending tends to increase, thus making it easier to run a business(and there's actually data to back that up). Also wages haven't risen with inflation. If you can't pay a decent wage, your business isn't economically viable.

[@Broformist]

That's exactly what happened multiple times in my country, Lithuania. They raise minimum wage, all of a sudden everything in shops costs more. And government assholes are talking about raising it again. I think minimum wage laws must hurt the minimum wage earners the most, frankly. People should be focusing on how to make money valuable instead of increasing its amount.

[@chadnoneo9769]

@@xerxesphilea5413 And you also receive a lot more benefits meaning you don't need to spend out as much out of pocket to get the same amount needed. The people in the US get stuck shouldering a lot more burdens that many other countries do not completely lay on their citizens. In Sweden there is decent public transportation which many cities in the US don't have and healthcare costs are often out of pocket or out of wages without touching on paying when you are sick.

[@trailblazer632]

Dont forget when everything increases along with that minimum wage hike your taxes go up. You end up WORSE off and the only winner is the government

[@erik_arman]

I find it funny that people like Bernie Sanders use my country of Sweden as an example to look up to and emulate when SWEDEN DOESN'T HAVE A MINIMUM WAGE!

[@Eric-ye5yz]

Erik ..... Sweden is usually the reference for people dreaming about eradicating the federal minimum wage established by a government. However, these matters are wonderfully managed by very organized unions, which continuously negotiate wage rates in different industries to guarantee salaries’ fairness.

[@prof2yousmithe444]

John Stossel. One of our daughters worked at Amazon for 2-3 years. During that time, 6-8 people in her call centre committed suicide. A few killed themselves there on the premises! Amazon is a difficult culture to work in. She worked on projects that, according to her, she needed to read into secret government agencies. I really wish I could talk to you about this. Maybe we could email?

[@cookiemon87]

So Amazon made them commit suicide?? It's their fault not Amazon. That's like blaming Walgreens for people who commit drug abuse. People need to take responsibility for their actions.

[@2vnews902]

I think you mean cronyists.

[@VeggyZ]

They're definitely not living by the rules of capitalism with business practices like that.

[@GreenGearMood]

It's called vampire capitalism or crony capitalism. But the proper name is *corporatism.* And I wish it would catch on.

[@2vnews902]

@@GreenGearMood Nope, it is cronyism.

[@BenjaminOng5]

Unfortunately, when people turn to government as their provider and surrender too much power to it, it leaves the door wide open for abuse.

[@GreenGearMood]

+2VNews Listen to what I tell you.

[@mrholdbutton971]

Bezos (and his ilk) are not capitalists, they're corporatists. Using their gvmt propped up monopolies to extract as much money as they can from the populace, while lobbying or colluding directly with politicians to craft policy which prevents competition from ever threatening them. That isn't capitalism, its soft-socialism, by fiat from lobbying and policy efforts, rather than the gvmt directly controlling the means of production. Supply-side economics requires that there is a free market which determines who succeeds based on their own merits and the marketability of goods and services. That is 'capitalism'. What we have now, where regulations, tax loopholes, kickbacks and SuperPACs doesn't even resemble supply-side economics.

[@senateboy0909]

It always leads to that point, get big enough then you thirst for power through political influence, power and capitalism go hand in hand in the end

[@electricdazz]

at what point does capitalism become corporatism?

[@AvroBellow]

A perfect example of this is the military-industrial complex. Good call!

[@tavzelaviation8157]

2:08 holy hell why did you need to blast my ears for a second there

[@indiasaunders912]

I work at Amazon. I like working there. I knew it it was only going to be part time not get me where I want to be financially. So I got a second job.

[@pumpkinpie2978]

I tried to be a self employed person, opened my own store, my mom and I the only workers, it was so hard to pay rent and I couldn’t pay for my own health insurance, i remember people thought I was doing well because I had my own store. Long story short had to close the store and now I appreciate my employer, I know every cost to run a company means, hope to have my own business in the future but I learned a good lesson as well.

[@TheRealCaptainJamesTKirk]

I really enjoy these presentations by Mr Stossel. Thank you.

[@333kiel]

That journalist "oh, John!" has a very low opinion of people who choose to work at Walmart.

[@matthewmann8951]

Wow again thank you sir. I have just had my eyes opened to say the least. Great job.

[@therussiantrollnetwork7464]

I don’t know if I am a libertarian or a conservative because I agree with Ben Shapiro and John Stossel on almost everything 🤷🏿‍♂️

[@ludwigvonsowell5347]

Be a libertarian in the street and a conservative in the home.

[@therussiantrollnetwork7464]

Alex Minor economically i agree with everything John says. I think the only distinction would be that i am pro life

[@ItsTeabaggins]

The Russian Troll Network You can be a libertarian and pro life. Because a libertarian cares about the freedom over your own body, and a fetus has the same right to bodily autonomy, therefore you could argue abortion is immoral because you are taking gun away that fetus rights.

[@chrisperlaky8715]

If you believe in the non-aggression principle then you're a Libertarian. Ben Shapiro is a neo-conservative.

[@droptozro]

I get you haha. I'm a conservatarian. I generally describe myself as a conservative libertarian. Join the movement lol

[@SociallyTriggered]

The problem is if you have a government setting the rules for business then businesses will do what they can to convince governments to adjust the rules in their favor. In a free market it is the consumers that creates the rules and only way businesses can win in that environment is to make the consumers happy.

[@SociallyTriggered]

@@xerxesphilea5413 Yup..this is what I always tell people. Governments have elections once every 4 years and businesses are in an perpetual election.

[@SomethinAintRightHere]

SociallyTriggered how is it so many people seem to grasp the basic concepts of economics yet the “experts” cannot?

[@SociallyTriggered]

@@SomethinAintRightHere LOL no idea. It annoys me a lot especially when I see people who promote socialism. If you watch my videos, you'll notice I'm constantly trying to explain the basics to people who should know better.

[@ataraxia2894]

Somethin Aint Right Here because experts do grasp this, they’re just abusing the system for their own benefit.

[@mikew2610]

SociallyTriggered. Your first comment is an idealist approach. Customers don't create rules and businesses don't always win by making customers happy. I will say it may apply to small mom-and-pop shops but not even close to large corporations. They win by monopolizing, paying little taxes, and investing their cash which has very little to do with customers.

[@crosbyong]

"For every complex problem, there's a solution that is simple, neat, and wrong." H.L. Mencken

[@IncredibleMD]

"That is exactly the argument that people back in the day made about the minimum wage." Usually, it's hindsight that's 20/20, not foresight.

[@josephmchugh4040]

Ever notice those who demand $15 an hour are the full grown adults working in jobs meant for high school and college kids? The kind of people who are still, at least partly, dependent on their parents? If you're in your 40s and are still working in a minimum wage job, you've got no one to blame but your self. The first job I ever had in high school (seasonal life guard) payed better than minimum and I didn't need any experience.

[@freakadelic7495]

You don't have to be a "full grown adult with a job meant for high school/college kids" to favor a liveable wage. You just have to be somebody who notices that it makes no sense for people to contribute their 40 hours that society asks of them and they get paid a wage that still can't cover the basic necessities. That's what a job is supposed to be for at the very least, otherwise what's the point? When companies don't pay a wage that's at least liveable, then you and I have to pay more in taxes for the gov't aid programs that they inevitably have to resort to. People should be able to live ok, and if somebody wants to attain a living that affords them a more lavish lifestyle than just basic, then all the better for them. But I'm sure your defense is that everybody should just work towards a higher paying job. Oh right, there are exactly a commensurate million number of high paying jobs for all the millions of people who need jobs so everyone can just get- oh wait... Yeah, see how that doesn't work? An ok standard of living is in order. A company's success isn't measured by how badly they skim their workers. Business success is measured in other ways, we all know that.

[@jacobmiller6664]

Freakadelic my company cant find enough people to hire for 20+/hr, to be trained to use epoxies and urethane. There are signs EVERYWHERE on the side of the road looking for electricians with 45+/hr here in Washington. There ARE plenty of jobs that pay high. The problem is people dont want to work. Dump Truck drivers often make 30 an hour and will pay for your training. Welders are well paid and many companies will help you learn. If you dont think there are enough good jobs you must be blind or something.

[@jacobmiller6664]

Freakadelic pay is based on skill and value. If you contribute and are valuable, you will be paid more. Some deadbeat working at taco bell that cant even get an order right doesnt deserve higher wages simply because they work 40 hours a week. Why would a company pay someone if they cant do that job well? Would you pay a contractor to fix water damage in your house if it turned out crappy and they did it wrong? No, you would demand they fix the issue and that would cut into their pay for the job. You stated that there is no point for people to work if they dont make a wage worth living on right? Well I worked as a kid and a college student and made very little, but I gained skills that have given me much better jobs and higher wages. It's so simple, I'm flabbergasted when I see misunderstanding of such basic principles. Do hawks give their prey to other hawks that cant hunt as well? No, the poor hunters die. I'm not advocating for that, but forcing companies to pay a "living wage" (whatever that means) is just a bad choice.

[@freakadelic7495]

@@jacobmiller6664 It's not a matter that people just "don't wanna work" when obviously they do. So many people don't have the skills for those kind of jobs, that's why they can't get those jobs. Same is true with welding jobs. Everyone we know was fed the idea that the only way to get a decent job was to go to college, and then they end up with a degree they can't use but they still try to pursue a job pertaining to that degree (and the debt that goes with it) so their time spent getting it might (just might) not be a total waste. Same would be the case if someone learned electrician work but there was an over abundance of electrical workers: they'd rather their training not be for nothing if possible. But saying people "don't wanna work" isn't what's going on here and it's also not a reason why we shouldn't have a liveable wage where people don't have to resort to gov't aid that you and I have to pay more into because some jackoff company didn't want to give their workers enough upfront.

[@freakadelic7495]

@@jacobmiller6664 I bet you wouldn't argue that any job is a "bad" job. Somebody has to do those jobs, and we've deemed as a society that a person must contribute 40 hours a week so that in exchange you earn at least a minimum standard of living (it's that last part that many businesses drop the ball on). You're apparently still befuddled as to what a liveable wage is because my description of it didn't stick for you. Again, it's a wage that covers the basic necessities so a worker doesn't have to resort to stop-gap measures like food stamps (programs you and I have to pay more for because some jackoff companies don't wanna pay their workers for that kind of thing upfront, so you and I have to for some reason). A place like Taco Bell has a recurring problem of lackluster employees because they can't attract the kind of worker who does better, so they have to take what they can get. If an employee is paid a liveable wage and they still don't perform up to desired level, they get fired and replaced by somebody better, problem solved. And that lackluster employee won't get much in the way of money from any employer until they shape up. You were able to eventually get a better paying job through work experience that didn't pay well at first. I would argue you got exploited at that first job(s), but at least you got out of it, so that's good. So everyone should just work towards higher paying jobs right? Oh right, there are a commensurate million number of high paying jobs for the millions of people who require work, so they can all just get- oh wait... See how that doesn't work? It's laudible for people to strive for a better paying job, but not EVERYONE is going to be able to get one, so the least we can do is make it so they don't have to resort to gov't aid (which, again, means you and I pay more for such programs because some jackoff companies didn't want to do so upfront, so how much are you and I really paying for those goods/services those companies provide?).

[@Russianbro777]

I worked at a Hardware store at minimum wage and slowly got more money, starting noobs at higher rates is nonsense.

[@freakadelic7495]

I would argue that you got exploited with whatever starting wage you got, but if you didn't feel that way, then lucky you I guess. But not everyone gets that feeling of ease like you did when the amount they're paid can't even cover the basic necessities. That's what a job is supposed to be for, otherwise what's the point? And when companies don't pay a wage that's at least liveable, you and I have to pay more in taxes for the gov't aid programs that they inevitably have to resort to in order to cover the basic necessities. People should be able to live at least ok, and if somebody wants to attain a living that affords them a more lavish lifestyle than just basic, then all the better for them.

[@chieftp]

they're not saying start new employees at more than minimum wage, they're saying minimum wage needs to be higher because it hasn't kept up with inflation. it was $6/hr 20 years ago. now it's $7.50. meanwhile, everything has doubled or tripled in price.

[@MrA5htaroth]

Freakadelic: You ask "What's the point" but the point is stated many times in both comments and in the video- you START low because the employer can use you to produce value at that wage, and then you get experienced and end up with more because you can produce more value. This, of course, assumes you are willing to work and learn. @@freakadelic7495

[@freakadelic7495]

@@MrA5htaroth By that rationale, you could start at $0 with the idea that so long as you stay at the job, then eventually you will earn 50 cents an hour, than eventually 1, then eventually 1.50, then eventually 2... You'd probably say how starting at 0 is really low because that doesn't pay for much of anything and you'd be right, which illustrates why getting paid anything non-liveable in exchange for full-time work is not much of an exchange at all. That's the essential exchange that's suppose to be part of a job. Society asks that you contribute full-time work in order to help keep society running so in exchange you can at least live ok. An ethical employer would essentially break it down to you the likes of "If you work for me and do this and this and this AND this etc, show up to work on time, put in a good effort, be helpful to the customer (if customers are involved), do all this and anything else that could be asked of you, then you get a liveable wage in exchange for all your work because without you, my business doesn't really run at all and I'd have nobody to patronize it as a result." Only rub is with minimum wage being as low as it is, so many companies will ask that people work for them but not live up to their end of exchanging a liveable wage for the work. If minimum wage was really $0, then too many companies would "exercise their freedom" to exploit workers that way. They do whatever they can get away with in whatever case, which again means you and I are footing the bill for them via putting more tax dollars into gov't aid programs like food stamps because these companies take advantage of the social safety net instead of paying their employees right to being with. They're essentially telling you and I "oh you pay for my employees' necessities because I didn't want to", so how much are you and I really paying for that good/service we buy from them? Libertardians are always pointing to the fast food restaurant example of how someone hired to just flip burgers shouldn't be paid a liveable wage, or somebody hired to just sweep floors shouldn't be and some such. No, that's not how working there would go. A person doesn't get hired to do just one thing in exchange for liveable wage, they do multiple things: they flip burgers, prep other food, sweep the floors, clean and restock trays, restock other things like cups and napkins, intake orders, put together the orders, clean restrooms at proper frequency/intervals, keep the cooking/food prep equipment clean, all that and a whole laundry list of other things not mentioned here that the boss will ask of them as well as show up to work on time and be helpful to the customer and put in a good effort and such, and with all of this combined they produce the value that's a proper exchange for a liveable wage or else they don't get to work there at all, end of story. Of course you have more than one person doing these tasks at different intervals in case you think I'm saying one person does all this by themselves. At nightime maybe, when demand is less than during the day. Joe employee is essential to that business being able to make money in the first place, value that requires compensation that facilitates him to be able to at least live ok. Without employees to do these things, that fast food joint can't run how it's suppose to and nobody will want to patronize that place and they're out of business. The common libertardian refrain is the if someone is suppose to be paid $15 and hour instead of something closer to half that, then that business will only hire 1 person for a position instead of 2. But that rationale doesn't really follow because if a company only needs 1 person to do the work anyway, they'll only hire that one person anyway to be paid at the $7.50 rate, even if they could easily afford the 2 employees. They only need the 1 person because demand is low at that time. Demand for a business's goods/services is what dictates how many people to hire, not the rate of mimimum wage. If demand is low, then there's less traffic and thus less need for more employees. More traffic means more influx of money, and also more need to cover the extra workload so more people are hired, which is covered by that said extra money. Just like holiday time where companies take on more employees to meet the demand of that time and then later shed them. Or the nightime example from before where demand at different times of day influence number of people on payroll at a given time. Or for that matter, macro scales of time where demand waxes and wanes which influences the number of employees at a given time. Also key is with a liveable minimum wage for everybody, then everybody has more disposable income to circulate to the businesses in their nearby economy. I forget the number, but people below a certain income level always spend 90-100% of what they make. When they have a little more, they circulate the money more. Conversely, if they have less than they can support themselves on, then they resort to austerity and businesses that could otherwise see more money thrown their way won't see it, so it only seems to make sense that people shouldn't be paid more than what minimum wage is now. These are both feedback loops. Business success is measured in so many other ways, we all know that. And if a business's only way to stay in business is by cheating or shortcuts of some kind (in this case, cheating workers on pay), then that business clearly isn't survival of the fittest.

[@MrA5htaroth]

@@freakadelic7495 a boss paying a low wage is not "cheating his workers on pay" unless you have already accepted your final position that it is the company's legal or moral duty to pay them a "living wage". Your argument is circular. My grandfather started as an apprentice and his wages didn't cover his travel and food expenses. He could survive as he still lived at home. He ended up as a civil engineer in the oil industry, traveling the world, and comfortably supporting a family of four. I think that is acceptable, yes. You do not. I doubt we will persuade each other. I understand that you believe your position to be both ethical and practical, and thank you for the time you took to make your argument.

[@ochenhetree]

The real issue is the purchase power of the US dollar.

[@jtaylor3609]

I actually worked for amazon. You got paid min wage. But the higher the production rate the more. Thats including overtime. Its a must.

[@juneyshu6197]

It back breaking and foot wrecking and mind twisting place.

[@songhuchoe]

Capitalist stop becoming capitalists after becoming too successful. Libertarians: *Surprised Pikachu*

[@The.Red.Tomahawk]

songhuchoe Statist: The goverment is the one that gave them the money to make up the difference in the first place. Socialist fuck: Surprised pikachu.

[@JoshThewhiteDad]

2:38 I love the way you said “hang out on the street” lmao

[@Takeo2011]

I didn’t get Paid Jack Sh$t when I first started fast food many years ago. It taught me to better myself to work hard for more. I’m glad fast food gave me a opportunity at 15 years old with crappy pay. It helped me build character.

[@akidmyself4053]

Wait, what happened to food stamps being a good thing because they meant no one could go hungry? Remember kids, they always want more.

[@edendupuy5059]

I love the video, but I had to do a double-take at 0:36. Totally off-topic but did anyone hear a grenade bounce there?

[@-Amiya-]

Ha! I caught that too.

[@kosrules1884]

I work a minimum wage job as a bag in a grocery store. I usually get around 23 hours a week. But I know if my minimum wage was raised to $15 they would let me go.

[@drmodestoesq]

I don't understand. They would let a bag go? Like that scene in American Beauty where the bag was blowing around in circles?

[@deezeed2817]

Utter horseshit. If they can't pay you minimum wage then there's something wrong with their business.

[@drmodestoesq]

@@deezeed2817 Moreover, if they're paying money for an employee to be a "bag"....something is seriously wrong with their business.

[@jermainemyrn19]

Not true, I work at whole food before their raise and I'm still here working more hours

[@waterheaterservices]

Businesses will just have to raise prices and cause inflation. Then the raises will be worth the same. We went through this in the 70s. The poor stayed poor. I was a minimum wage worker. Then I learned how to do a high paying skill. Our lives are in our hands.

[@F1n1337]

Thanks for all the great work you do Stossel.

[@KidCity1985]

The higher minimum wage killed my business. I had 9 employees for 33 years. It was killing me.

[@zacharyshoemaker835]

Huh I work at amazon and always thought we were paid pretty decently. I always pick up overtime though and notice a lot of people abuse unpaid time off

[@MrWatchmen759]

zachary shoemaker lmao I’m glad they have that upt

[@deadlyrng]

What position do you have?

[@zacharyshoemaker835]

Honestly just a standard stow position nothing special, but I can go over it in terms of a standard employee working night shift this is what your looking at. Base 15 x 40 x 52 = 31,200 Peak overtime: 55 hour weeks 15 x 1.5 x 15 x 6 weeks= 2,025 Shift differential overnight .60 x 40 x 52= 1,248 31,200+2,025+1,248= 34,473 401k. 50 cents up to 4% of pay .02 x 34,473= 690 Paid holidays 8 x 8 x 15= 860 36,123 total for a lax year. That's if your not trying to pick up time, but also not using unpaid time. First years get about 2 weeks paid time off, after that is 3 weeks. Overall it's not so bad. I should be clearing 40 next year with 2 shares of amazon stock on top of it. It's not a bad living for honest work.

[@zacharyshoemaker835]

@Roshea Yeah standard work day at one of the FCs is 10 hours a day 4 days a week. They also have a compressed 36 hour weeks. 12 hours a day 3 days a week, but it's weekend work. They also get compensated through another differential. That basically makes their 36 hours equivalent to a 40 hour week. I've never sought relief for aches and pains it's just a part of the job. I just remember that my job is luxury compared to what some other fellas are doing and shouldn't be complaining. I'm not out in the sun digging holes, demolishing structures with a sledge, or pulling stumps. There's some guy out there really hurting and still going to work the next day.

[@Countcho]

The dems who never set foot in a warehouse complain more than the actual workers of amazon

[@tigerbond4064]

The one issue no one mentions is that ,They all talk about the BIG guys, They have to raise the minimum wage .This is providing a protectionist enviroment that will not all any startups (mom and Pop) Shops to compete due to the high labor cost at start up! No one mentions this To support raising minimum wage is saying to NO to Small buisness in AMERICA! Let the free market dictate the wage!

[@Vixctor13]

I did the math and noticed that 15$/hour is close to what I make here in Finland. I've had the same job for 5 years and during that time I've paid of a car loan and a student loan. I live alone in a 2 room apartment with a monthly rent of 613$. I think I'm doing just fine financially.

[@SByrd-tr1ty]

In my area Walmart has now made most of its checkout lines self checking with only one person there to help you.

[@juneyshu6197]

I Never go to the selfies, either!

[@stephenhutchinson7054]

Yeah... it’s called automation. It’s gonna replace someone’s job regardless of their skill.

[@Vamavid]

I am a liberal and Stossel is one guy I wish would be wrong sometimes. Maybe in the next video.

[@akessel92train]

Vamavid but unfortunately for you, he is right

[@Olematonnimi]

How is he not wrong? Amazon is not culpable of not paying their workers enough to pay for rent, utilities and food expenses thus making government pay for what Amazon should pay for. The money comes from tax paying citizens. Amazon is jewing your money to propel themselves upwards when the money should go to for example fixing roads.

[@Olematonnimi]

Roshea Yeah well I just said 1 example. There are thousands of examples you could choose from.

[@norsefalconer]

My advice for anyone under 30, Learn a trade, get (or stay) debt free, grow some of your own food, minimize your (outgoing) economic footprint. It's not what you make, it's what you spend.

[@boredfangerrude]

In many places, it's actually ILLEGAL to grow your own food.

[@GreenGearMood]

"grow some of your own food" Lol. What is he talking about. Where and how.

[@boredfangerrude]

The Earth IS warming though but what is debated is Humanity's contribution.

[@dallass194]

@@GreenGearMood You can grow about 50 potatoes in a 2ft by 2ft box filled with dirt. There are always ways to grow your own food

[@medicfriends8163]

@@GreenGearMood lol it's funny because of those that advocate pursuing trade careers rather than higher education are sort of clueless on how trades will be the first to go when it comes to market opportunities in the future. The demand will always be there, but it's gonna get more and more oversaturated with people looking to work.

[@kimwiser445]

I’m so tired of media not knowing what they are talking about.

[@MyMotherWasaNinja]

The problem is any government intervention in the market place. Government subsidies, grants, regulation etc creates cronyism and corruption amongst the corporate and political elites. If you want money out of government, keep government out of money.

[@BoxerDogs]

If the salaries and wages are too low, that means the supply of labor is too high.

[@scottmcdonald9685]

Yep. And overpopulation is the source of most of our social and economic problems, worldwide.

[@rs72098]

To an extent, you're correct. Keep in mind that goes both ways. The great demographic shift is happening as millions of aging baby boomers leave the job market. There will be a huge labor shortage that will force extremely high wages, the government will be helpless to help these companies. Energy prices will also rise, slowing down automation for decades.

[@TheBoxingNinja]

@@scottmcdonald9685 no it's not. There's plenty of jobs, my brother has 10 of them. Plus all the job that will be taken over by machine. Machines are getting good at doing everything, what happens when they replace the need for workers all together? But then again for thousands of years people said the same thing we are saying "over population" and "Machines are killing jobs". But they it all works out (without the government).

[@AtlasCave]

Higher minimum wage --> Higher priced goods. What the hell is wrong with politicians???

[@andrew120698]

Americans seem to not understand inflation... This happens in my country all the time and it results in more taxes and higher product costs, it is a simple economic concept yet it is never brought up by them in any arguments...

[@gardencity3558]

They raised minimum wage like 3$ in 2 years here in Ontario Canada. Prices for everything went up and automation accellerated. A cup of coffee at 7-11 went from $1.00 to $1.25 in one go. the employees also paid more taxes. Emploment/hiring dropped. If minimum wage had been left alone and gone up by inflation and by market demand for labor it would have been better.

[@coolchrisj]

The blue side of Americans are to stupid or greedy to see the big picture

[@nawfalal-asadi5140]

greed is the true problem, not capitalism. in my opinion america has on of the best systems for middle class families and low income, at least compared to us here in middle east where its just slavery under different names. great video and very informative, keep it up. thanks!

[@nawfalal-asadi5140]

people should be educated, that's the least they can do. thanks for your reply.

[@reddeath5011]

When a CEO makes billion, and the company is worth over a trillion and an employee makes less than $10 and hour, there is something wrong with that math. The problem is those of us who earn very little cannot afford half the stuff manufacturers sell. We cannot afford to get a decent education. Those that did get an education owe enough money in loans that they will be in debt most of their lives. Even the experienced have a tough time finding jobs and have to work somewhere. When employee's make more money, they spend more money. The money people make typically go towards bills, which leave no discretionary income to buy stuff like TV's, books, going out to eat. If people cannot afford those things, then how do the businesses expect to stay open? it's a catch 22 for businesses. You pay your employees less, they have less to spend on what you sell.

[@50kaoeu256]

Education is expensive because of guaranteed loans, and the way that the school ranking system works. The government should also make it cheaper to CLEP courses.

[@yourfriendjohnny8889]

IM UPSET 50K on my head it's disrespect

[@pjackson239]

You should visit a Walmart. I promise you that you will find 30 plus lines and only 2 or 3 at most open no matter how busy or how many people are standing in line.

[@TheSticlizard]

My son works for a hospital in our town. Educated as a firefighter and volunteer firefighter, job as firefighter spent 6 years as firefighter in Afghanistan. Came home still couldn't get a paying job in the home town as a firefighter. Wage $10-$15 an hour. Went back to college and became a x-ray technician. 5 years with the hospital and only earns $20 an hour. Pretty well depressing.

[@steelydan449]

I loved the drug exchange clip I’m so amazed people listen to Bernie Sanders. The guy had done NOTHING in his life, including combing his hair.

[@rm2kmidi]

We need to abolish minimum wage

[@chieftp]

agreed. we need to abolish any requirement that the owners have to pay their workers.

[@jaredlangley6924]

chieftp people aren’t going to work for nothing. It just doesn’t set a minimum threshold. You’d probably get better wages.

[@chieftp]

big, black strong ones. and don't let them get uppity.

[@seanmichaels8060]

Let's just abolish the entire Fair Labor Standards Act while we're at it. It's not as if it ended the Great Depression or anything. Leave a stupid comment. Expect a smart person like me to be sarcastic at you. Dumb fuck.

[@paulkurilecz4209]

I had my first "real" job in 1972 being paid $1.62 per hour. If the minimum wage kept track with inflation it would now be about $10.87 per hour. This just helps to point out that worker wages have been disconnected from worker productivity since about 1985. Since 1985, worker productivity has increased at an average of a 3% per year rate. Worker wages have remained essentially flat. As it is the current federal minimum wage is $7.25.

[@faller006]

subscribed, hit the bell, liked the video, and left a comment. My favorite channel from now on.

[@kayejaye7508]

If amazon cant afford to pay it's workers a proper wage *let* them collapse so competitors with a better business model who can actually afford to pay their workers can step in and take over -that's real capitalism. Also depicting people who cant get jobs as crack dealers just about sums up the level of this video and those who made it.

[@crossbearer6453]

It’s one of the examples Why zero in on just that?? That shows your mindset

[@XChristianNoirX]

What is... CRONY CAPITALISM

[@oskartheme5233]

Crony STATISM.

[@jennithywong2704]

Communists: real communism has never been tried Capitalists: real free market has never been tried

[@XChristianNoirX]

Both are corruptible because government uses force/control. However, the smaller you make the government, the less force it can exert. The larger the government, the more force it has and the more government there is to corrupt. A "communist" or "socialist" system can more easily work in families, small communities, and small countries, because people know eachother more, can more easily decide together, and there is less power distance. However, the larger the size of the group, the less and less consideration there is for the individual, the less a one-size-fits all system works for everyone, and the more resistance can happen, because there is greater power distance, less people know eachother, and as a result, the more the ends justify the means. Free market capitalism is simply the idea of consentual exchange of labor/goods/property. Communism and socialism are not. Democratic socialism can lead to tyranny by the majority, where 51% dominate the other 49%. The main danger in any system is when you can't take/sell your things and leave when you want. This is most associated with communism, but socialism doesn't tend to want to give up control that easily either. Of course there are several degrees of pressure each system exerts. Capitalism isn't free from corruption, when outside money gets involved in government... The more government there is, the more chance there is for this to happen. Then, you have crony capitalism, where the laws are written to keep those in power.. In power. Often, this is done in the guise of "helping the people." However, the more socialist and communist a large system gets, the more crony it is by nature, because even if you eliminate money, there is still power. People like to blame money for all social ills, as if if money is the problem... But money is just an economic tool. It can be used as a weapon, but even if you eliminate it, there are still other means of force/power. Real world, every day examples of crony capitalism... These types of rules and regulations are often written by and/or promoted by the big companies themselves, in the guise of helping people, but are generally implemented to help the big companies: One can no longer buy a good coil cleaner ($15) for their air conditioner, because they don't have a liscence, so they have to pay someone who is liscenced $400 to clean their AC coils, which takes 30 minutes. This keeps the AC companies and liscencers in business, as well as the AC companies (more AC units break down earlier because people end up not maintaining their units because $400 is too much, so they might end up using inferior products). Another example: New regulations for gas stations get passed, requiring gas stations to install new, expensive gas pumps and fuel delivery systems. The privately owned gas stations can't afford it, but the large companies can because they ha economies of scale. All of a sudden, the small companies go out of business or sell out to the large companies. Young Johnny no longer inherits his family gas station, but he has some money that pays for college. College teaches him social sciences and how to protest. When he graduates, he has no job and no gas station. He might even have more debt. All of a sudden, a politician is his only answer.

[@XChristianNoirX]

When it comes down to it, the larger a government becomes, and the more power a government has, the more susceptible to becoming authoritarian it becomes.

[@adeadchannel4129]

Corporatism*

[@tokesalotta1521]

I wonder if Bezos is invested in the companies that make those robots and the software

[@TigreXspalterLP]

Funny thing he forgot to mention: Unemployment never raises when you put a higher minimum wage in place. On a economics 101 level he is right. Higher minimums should lead to more unemployment. But when this does not happen, that means there is a market inefficiencies because of a monopoly like market structure. Turns out large corporations with their big hr departments and lobby groups force employees to take way lower wages than the market would normaly create. If you want to know more about this, read the wikipedia article about monopsonies and the labour market.

[@adventurerpan8527]

and sadly then we saw and increase to $11 in 2019, that made it worse, and is going up to $12 dollars in 2020 which probably make things even worse.

[@l0os176]

3:00 "Try living on $15/hour" holy smokes I PROSPER as an American with slightly above that.

[@MrRockguy01]

u live on ur own w/ a car and bills and u prosper on 15...ur fulloshit

[@r.d.9399]

No way in hell you prosper

[@Y.M...]

Come on, that's just barely making a living. If you have unbelievably low rent or bills, or have no children to take care of, it's manageable. That being said, minimum wage is supposed to help young people who aren't constrained by children or incredibly high bills. They earn enough to put themselves through better training and jobs, and move up in life. Some of the minimum wage advocates are people still waiting tables well into their 40s, which is kinda ridiculous.

[@apersonontheinternet8006]

Dude is right; the problem isn't $15 isn't enough, it's people buying into mass consumerism and keeping up with the Joneses. But hey, don't let me stop you from blowing all your money on designer clothes, thousand dollar phones, cable television, overpriced coffee and hipster (fast) foods. People have told me how wrong I'm living life because I don't have a 30k plus car, don't live in a McMansion, been wearing the same clothes for 10+ years, I pay more for the activation fee than I do for my new phones and don't go on ridiculous vacations every year. Up until the last few years I've worked for $15 an hour or less. I somehow managed to buy my own house, I own my vehicles outright, have a small camp and am currently making moves on 55 acres of land and I have an IRA and 401k with a sizable amount of money in it for only being 31. It tickles me pink when I hear people tell me I'm doing it all wrong when they are flat broke with no savings, no retirement, no property or any other meaningful assets to speak of. I'll keep my $3 khakis I bought at the thrift store and $5 Walmart shoes, you an keep living in debt up to your eyeballs while blaming it on everything else but yourself and your poor spending habits. But whatever; it's a you problem, not a me problem.

[@Mostopinionatedmanofalltime]

It's a crappy wage. But that's not the issue. The issue is that if you want to live well you have to gain the knowledge and skills so that you can get a career that will pay you six figures.

[@newman8r45]

Best part about Amazon getting praise for raising their minimum wage to 15/hr? they're actually going to save money. The MSM wasnt informed that as part of doing the wage increase, they removed all their incentive bonuses for production goals. A buddy of mine works for amazon and they used to get bonuses based on output for their warehouse. If the warehouse was doing better than expected they got paid better than expected. In order to pay for the increased minimum wage, they no longer get these incentive options.

[@lati_da]

I work at Amazon and it’s only the part time job that would qualify someone for food stamps at least in Oregon. They have tons of extra shifts available for anyone to pick up which could easily put someone upto 40 hrs/wk. Amazon also offers 401k, vision, dental and stock options for part time employees.

[@Inspector-Chisholm]

100 years ago the common people worked their guts out for starvation wages. When their bodies broke down they starved and died. When they were finally got the pay and living standards they demanded, the economy of the West expanded because of their spending. Where would Microsoft, Apple, Amazon or Facebook be without that? It's a middle way that has provided entrepreneurs and workers a chance to do what they want and get paid a living wage that has made western society prosperous.

[@kennethjames4724]

The economy expanded when taxes were lowered. Businesses had more to give their employees. It always happens that way.

[@kylenetherwood8734]

Something I've noticed is that regulation always hurts the poor and small businesses more than the rich and big businesses.

[@Coolsomeone234]

The real problem with a Minimum wage is That there's a Flat minimum wage. For entry level People there should be a lower wage.

[@urizt]

I've worked in an Amazon warehouse for a little over a week. One of the worst places I've ever been. Quit without notice and still get emails saying they'll give me a $500 bonus if I come back.

[@hbarudi]

We need laws that prevent companies from continuing to get government money and worsening the national debt. When it comes to minimum wage, $10/hour is more reasonable than $15/hour which could cause the loss of jobs.

[@rogers4760]

It's easy to find jobs like that, i have a job at Publix where starting is 12 $ an hour. It's for Walmart and Target too. I don't understand how these people think, work experience is as important as a college degree so work if you want more.

[@MyUsernameIsAlsoBort]

I consider myself pretty capitalistic, but I do think that Amazon, the first trillion dollar company, should not have employees that are on food stamps or any form of welfare. We the tax payer are subsidizing the low wages of a company that can afford the higher wages and still be worth a ridiculous amount of money.

[@MomsRavioli]

Watch out, calling for decent wages is communism or something.

[@randomguy9483]

One should be careful of raising the minimum wage as it will definitely going to lead to less profits and more firing. Lower minimum wage produces more jobs, higher wages lead to reduction of entry level jobs.

[@randomguy9483]

@Joanne Woodward yeah the welfare keeps the poor, poor.

[@randomguy9483]

@Joanne Woodward he only wants lower employee costs to maximize profit. If welfare helps him do it, he will use it. Also if he was dirt pooor and made billions why can't others. He had similar hurdles as others would. Stop eyeing on others money. Earn your own.

[@Will-vj5bc]

Exactly. It's corporate welfare. Jeff Bezos, the Walton family, etc are the biggest welfare queens there are.... but they would rather have people look down on people beneath them... people with no money and no power... rather than look up and see who is pulling the strings.

[@Bigjplaysyoshi]

I work at a Fulfillment Center at Amazon, and all the employees who have been there longer than a year were upset about the "wage increase" because they all lost their bonuses. People just stay there for years and years and never try to make themselves more valuable. I have personally seen employees turn down promotions because they didn't want to change anything. They just complain to the government and the company that they're not paid enough. Amazon has even offered their employees free community college practically. People are just lazy and are not willing to blame themselves for being the actual problem.

[@NotTheWheel]

I had no idea John Stossel had his own youtube channel this is terrific.

[@traddad9172]

I like Mr Stossel and his work- I hear Amazon currently has multiple cases going in tax fraud- just like most large corporations

[@Rasgonras]

I have heard these arguments so, SO many times ... from my history books concerning child labour in the 1890s.

[@LA67895]

I worked at Amazon and it was just like any other warehouse job why don’t they go after UPS or FedEx or any other warehouse gig, same deal

[@stevebannon2884]

He’s got a point man. The amount of wealth that is accumulated by these vultures and low wages is something to be ashamed of. I don’t believe most people are inherently lazy.