Jamie Dimon: Hate Immigrants Not Billionaires

Jamie Dimon struggles to admit the explosion of billionaires is a problem in America. Ana Kasparian and Cenk Uygur discuss on The Young Turks. Do you agree with TYT's take? Tell us what you think in the comments below. SUBSCRIBE today: ☞ www.youtube.com...
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"Jamie Dimon, the billionaire CEO of JP Morgan Chase, thinks it "may be unrelated" that people in his income bracket are doing so well while many Americans struggle."*
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250114__TB02Dimon

[@TheYoungTurks]

Help LA rebuild: go.tyt.com/redcross go.tyt.com/worldcentralkitchen

[@HTownCharlieBrown]

Jamie Dimon should have been in a prison cell decades ago.

[@GeorgeSchneider8889]

@@HTownCharlieBrown 👌

[@WeirdenGilling]

Leslie Stahl has been 70 for 30 years

[@yeoshow1984]

Most billionaires seem sad, weird and creepy.

[@fjf6050]

That's because they have prioritized hoarding wealth over having meaningful relationships

[@tonylouis6072]

Gilded Age 2.0

[@ethanmaloney7377]

hahahahaha we are not falling for it again! The billionaires are scared and they should be they are not safe.

[@darkhorseman8263]

Projective defence and the shifting of object. Shift the blame on to 'The Other' this is how Narcissists and Psychopaths always get away with their corruption.

[@adriandj3141]

Ah yes, the dude cutting you grass and the lady cleaning your house they are the enemy, they have all the power not this corporate goon.

[@dkitd2001]

I hope Luigi has a friend.

[@rockthevote398]

I'm sure he has many many friends.....the pot is brewing....

[@dancer24hrsallmylife23]

Not only is the money that they give to the government huge compared to what most Americans make, but the even crazier fact is that these giant million plus dollar donations are almost Pennie’s to these people.

[@jeffreyfilmore8446]

The reason why the bottom % didn't do as good is because they don't have excess money that just sits around making even more money. The top %'s money growth increases at a rate that is unnecessary for any one citizen.

[@ronaldrollins1558]

I hate billionaires I expect 25 k thumbs up.🤓

[@caseyshaunthomas]

What’s changing for corporate media is there are more billionaires entering the world and these people are starting to feel poor hahaha.

[@kidssport8167]

Cheap labour is key for them

[@GeorgeSchneider8889]

CEO to worker pay ratio 🇺🇸: 1965 : 20.4 1975 : 26.6 1985 : 50.5 1995 : 118.8 2005 : 318.4 2012 : 371.7 2021 : 389

[@felix0749]

Why you guys don’t talk about what caused this? Dems passed Civil Rights Act and Voting Rights Act in 1964 and 1965. After that they started pursuing white liberal and black-brown votes.

[@DarahanDhesi]

In the Middle East there is a law that all people who wish to work there and deported once the contract is over

[@NURREDIN]

Spoken like a true Euro-Colonialist.

[@philliphessel6788]

The wealth gap has dramatically grown over the past 40 years, because the already financially privileged in income inequality were able to invest their excess in purchasing ownership of capital yielding more income. The most lucrative return on investment has been in bribing politicians, but to leverage that requires ownership not merely of a pile of currency but also of some form of income generating capital. A Federal Reserve datum a few years old indicated that the top 1% of households in the United States held 30.9% of the country's wealth, while the bottom 50% held 2.6%. That almost 600-fold difference per capita occludes the still greater gulfs between the majority and the richest one in a thousand, then the richest one in a million. That last is roughly the upper 3/8 of billionaires, the almost 800 of which in 2022 had seen their combined wealth grow by 50% during the COVID-19 pandemic (which for the working class was basically a recession).

[@GeorgeSchneider8889]

The United States is a low-tax country Compared with other nations in the Organization for Economic Cooperation and Development (OECD), the United States ranks 32nd out of 38 in revenue as a percentage of GDP.20 But it’s not just that the United States is near the bottom end of revenue; it is nowhere close even to the average. Over the CBO’s 10-year budget window, the United States will collect $26 trillion less in revenues than it would if its revenue as a percentage of GDP were as high as the average OECD nation. When compared to EU nations, that number rises to $36 trillion. (see Figure 2) In contrast, the $289 billion projected revenue increase in the Inflation Reduction Act21 still leaves the United States ranking 32nd out of 38 OECD countries

[@rudihaufe271]

could it be a simple problem??if the piece of the cake gets bigger for one it gets smaller for the rest..hahaha

[@soccer21928]

Going to go out on a limb and say Dimon said so such thing

[@bobbytay167]

colonialism now evolved into capitalism

[@mattwhitely1067]

It might be unrelated 😂 he really said that.. but he said it in a way he knew it wasnt 😂

[@fallonmassey4714]

*Think Sports! You win a Championship, then to get back there, you have to compete all over again! That's not happening in our system & that's the problem because it suppresses talented people coming along in the pipeline!*

[@The_Superpack]

You should have caps on billionaires and future trillionaires of some kind whether they have to pay people a high minimum wage and they can’t own too much so no monopolies.

[@garwynrosser8907]

Innovation in AI sounds fantastic... But it's not like it's going to improve my life. To be certain it's only going to be used to actively improve the lives of the ultra wealthy. AI won't close the class gap.

[@philliphessel6788]

It will do just the opposite. The aristocrats who own the robots thereby don’t need to pay human workers, and so don’t need to offer goods they themselves can’t consume to get back money to buy the luxuries they really want. Taken far enough, that makes capitalism itself outmoded and medieval style command economy an efficient “cutting out the middleman.”

[@philliphessel6788]

2nd try to get past censor: If cap it all lists own the robots, then it will only increase the gap back towards reversion to a basically medieval form of hierarchy and economy.

[@erikwsince1981]

Absolutely hate billionaires. Especially cuz Jamie Dimon says not to.

[@dolivas8923]

We’re getting to another Gilded Age… we’ve been here as a country before and we’ve solved it before.

[@alejandrofrade325]

Guess how you did it?? It has something to do with a guy with a funny mustache

[@dolivas8923]

@@alejandrofrade325good ol teddy but also many many other progressive groups and leaders who took the charge to bring down the monopolistic system in place among other things

[@alejandrofrade325]

@dolivas8923 oh no...he was more...german

[@UpTheIronsEdForceOne]

Leslie Stahl is a multi millionaire. Dimon was saying that we need to help lift up the bottom 30%. Government dependency will keep you poor.

[@yishnir]

Hmm. Like Social Security? Oh, wait... That reduced poverty. Maybe you mean like Medicare and Medicaid? Oh, wait... those reduced poverty. Perhaps you mean public education... Oh, wait... that reduced poverty. ;-P

[@bobargoos9089]

1). Relax Chenk! I’m sure that you are doing better than most and not part of “us”. 2). Economics problem could do with both the wealthy funneling more wealth to themselves and the flood of immigrants (both legal and otherwise). What do you think that the price of goods / services will behave when there is a huge influx of demand

[@mrshaw9201]

phrasing is off on this one. if you say that the _number_ of wealthy people have increased, it doesn't suggest wealth disparity. it comes across as 'more people are getting rich'. as in, 'money is moving and the disparity isn't as sharp' ...something like that.

[@jobycat]

Eat the rich

[@gustav4539]

It's called democracy.They're using their speech. Duh.

[@ivnarc6430]

Sounds just like Karen Asparagus. Maybe he could cohost tyt

[@bluewatermiles]

#MoneyOutOfPolitics !!! That’s where we start to #ReclaimDemocracy !!!

[@mohammadhassan7342]

Comment about buybacks is the stupidest shit i have ever heard: if the company gave the money out thru dividends no one would care. Buybacks and dividends are the same friggin thing

[@tinkerbell1120]

I remember when citizens peacefully 'Occupied Wallstreet' and that Christmas Jamie Diamon put out a card with his family playing tennis in their living room. They have no souls. Just greedy and narcissistic.

[@mss158]

Yes, you're back.

[@SM-rg2jd]

Anna she is gorgeous

[@GeorgeSchneider8889]

S&P 500 Stock Buybacks Year In billions Yearly change 2010 $319 16% 2011 $467 46% 2012 $413 -12% 2013 $496 20% 2014 $565 14% 2015 $592 5% 2016 $553 -7% 2017 $540 -2% 2018 $840 55% 2019 $749 -11% 2020 $538 -28% 2021 $919 71% 2022 $950 3% 2023 $815 -14% 2024e $924 13% 2025e $1,075 16%

[@silviat4893]

There was the citizens United decision then cooperate welfare, reform and now cooperate apartheid

[@actingtechniques]

do the opposite!

[@correnlove7439]

I don't know why on Earth KZbin would play this automatically but trust and believe I did not give you a click Ana Asparagus, and I never will again. 🤮 Do better TYT.

[@WeirdenGilling]

At quick glance cl looks like a d 🤣🤣🤣

[@someguy350]

56 comments on this channel says otherwise.

[@user-bt9vn4yb8d]

don't let anger blind youself

[@correnlove7439]

@@someguy350 😂😂😂 56?! 🤯 A whole 56 comments disagree with me?!! Welp I guess I should just stfu, my opinion as a loyal tyt viewers since 2016 is obviously totally irrelevant if FIFTY SIX commenter's disagree with me.. 😭

[@treedillinger5801]

This one’s right up your alley, Karen Asparagus

[@SMOOVKILL1]

He doesn't cate. Next story. Smh.

[@eldenringer6466]

never forget cenk is a multi millionaire and ana and partner are millionairesand they earned that money and thats ok but they both rich and dont care about egg prices...

[@Isabel-p6s]

From where did you get your information? How do you know they are millionaires? I can’t stand people like you who spread lies. Find something better to do with your life.

[@felix0749]

@@Isabel-p6s They’re grifters. They go on right-wing shows and hosts. They vindicate right-wing people’s beliefs and prejudices. Just watch how cenk at Charlie Kirk and others.

[@aibistin]

Isn’t he from Jackson Heights New York. The center of Americas melting pot.

[@blackcommunion3820]

He’s still white though lol

[@gordonwallin2368]

Cheers from the Pacific West Coast of Canada.

[@henrythegreatamerican8136]

Looks like the elites better start packing their bags for a one-way SpaceX trip to Mars. If not, let’s just say they might be seeing a lot more of the public’s... 'pointed' opinions, delivered with 'pitchfork' precision.

[@lolly1405]

I don’t have a problem with her being more and more billionaires. That means a lot of more people are becoming rich in America. When did that become a crime? Isn’t that what we all strive for? What are you worth Ana?

[@straightwhitemale966]

por que no los dos? 🤔

[@brandonneumann5294]

But you don’t hate both. You love billionaires that’s why you voted for Trump

[@tomcarl8784]

Sorry folks, but Jamie is spot-on correct. Wealth isn’t zero sum and inequality isn’t, in and of itself, a problem. It’s better to live in a world where Jamie is a billionaire and you’re a millionaire than it is in one where Jamie has 100m and you have 800k. The better question (as he tries to point out) is to ask how to help the bottom X% become more valuable to society and maintain reasonable leverage so that their lives improve materially and durably, without relying on redistributions that inexorably make everyone less wealthy (just as Ana has noted with the failed attempts to address homelessness in CA). To Cenk’s point, getting money out of politics is certainly something that should happen, but it’s irrelevant to the question of whether it’s ok for there to be billionaires. If you’d rather live in a world where Jamie has 100m and you have 800k over the one where he has 1b and you have 1m, it might be time to re-think who here is the scumbag.

[@infinteuniverse]

The cap of assets to individuals should be net worth at $5B, all tax on new income should be at 90%, all sales tax on new assets 95%. Adjust it for inflation accordingly.

[@philliphessel6788]

That’s a straw man, representing absolutely nobody’s proposition! If you live in a neighborhood of millionaires, then you’re in the elite - even though our GDP per capita would if evenly shared yield nearly a quarter million for a household of three. The reason the majority is poor is precisely because CEOs’ big payoffs are kickback for extorting even more for the billionaires who truly are like “the lilies of the field, who toil not, yet King Solomon in all his glory was not so richly arrayed.”

[@robertojimenez3365]

The envy show , bla bla bla.

[@RafaelBeltran-o9l]

the question ,life is Fair ? of course life is not fair. millions of people are millionaires got to be millionaires, just pure luck.🎉 they knew people ,they were at the right place at the right time, the right job ,they had an idea that ,10 years earlier it would have not matter. and of course people inherit millions, from their family ,you can go to the 1900s in the US, these millions, anyone can make it into billions, the billions into trillions so it's not a big dea to be a billionaire, if you had few million dollars from inheritance .while other people in this world barely can have food to eat, or feed their children ., go figure.

[@REPUBLICANvoter]

How are billionaires made? You voluntarily buy something from them that you want?

[@Theressomethingwrongwiththem]

That is not how billionaires are made. Please, for the love of God, go take an economics class. It was just explained, in this video, how billionaires make their money. They use YOUR money to make themselves money on the stock market and other non-consumer good investing.

[@philliphessel6788]

We buy back what we with our labor made and their mercenaries by their dirty work took from us to give to the billionaires who themselves do no labor.

[@philliphessel6788]

2nd try to get past censor: It’s not voluntary; the billionaires gain by extortion of labor what they do not produce.

[@REPUBLICANvoter]

@ So they FORCE people to work for them?

[@REPUBLICANvoter]

@@Theressomethingwrongwiththem Can you give an example of someone doing that? Like… I don’t know. Just elaborate.

[@dieterradeke4612]

FASCIST ANA LOVE HER BILLIONAIRE BUDDIES

[@jip254]

What a dumb comment!

[@ShimobeSama]

If the 1,000 billionaires have 5 trillion between them, and Musk has something like 0.4 trillion and Bezos something like 0.25 trillion (top of my head numbers; don't quote that), then my calculator says those two alone have about 13% of that 5 trillion. I'm trying to come up with a 13/50 joke and all I can come up with is pen15-shaped rocket launches. 🚀🚀

[@ShimobeSama]

13:44 These are pretty technical and some of them are more debatable than others, but #3 is super common sense for pretty much anyone. There's this comment (sorry) Elon made on Rogan, sort of a half-joke about why Japanese manufacturing is so good and the US's has gone down the drain. In Japan, you have 9 people rowing the boat and one person giving orders, and in the US you have 9 people giving orders (white collar bureaucratic financialized bloat, corporate ideological/procedural/box-checking BS jobs, etc.) and 1 person rowing (doing actual work with their hands, etc.). When the US team loses, they blame the rower and fxrx them. The same concept applies to investment vs. actual work. The US wants everyone to be accruing Pxnzx scheme white-collar college debt far in excess of actual demand, and then investing that barista money into abstract funds that grow in some internetworked databases whose numbers are supposed to represent actual productivity being done in the real world, but then they de-incentivize people doing the actual work and creating infrastructure, products, services, etc. that's actually supposed to be creating that theoretical abstract growth. So from this mindset you can see how the neoliberal theocracy jumps to insane logical conclusions like xffshxrxng entire industries (even to countries their neocon counterparts [often they themselves] want to get into hot wxrs with like Chxnx), importing infinite random fxrxxgnxrs with not just zero but negative vetting (not even for economic productive capacity or ideally cultural assimilation potential, but even to the point Pxtxn could walk in with a sombrero and BP would welcome him in while 90% of MSNBC segments are centered around him being the supernatural root of all evil in the world), and then use intersectional religion to declare txrxffs and even basic enforcement of xmmxgrxtxxn lxw as rxcxst, mxsogynist, and trxnsphxbic.