Former Secretary of Labor explains why need to reform our economy to combat inequality. Watch More: Everything You Need to Know About the New Economy ►► • Everything You Need to...
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@timothypowell97065 жыл бұрын
There are a lot of financial laws that need to change. First we need to go to publicly funded elections and eliminate professional lobbyists.
@krokodyl19275 жыл бұрын
Timothy Powell I couldn’t agree with you more my good man! Many more ethical corrections also need to be made.
@CarFreeSegnitz5 жыл бұрын
Yes, publicly funded elections are a vital first step. But there are many more steps needed to free the economy. In the absence of professional lobbyists the monied class still has obtuse influence by being able to play regions against each other. A fully publicly funded politician will be elected based on jobs in their constituency. The monied class dangles jobs on the proviso they get labour, environmental and tax concessions. And a politician is not blind to the possibility of a cushy private sector job in their future. A subtle wink from the factory owner and regulatory concessions will be coming their way. So long as wealth is allowed to accumulate to corrosive proportions greed will work its way into the system. It will demand fundamental changes which harshly punishes accumulation and overtly rewards shared prosperity. The market has been tilted toward capital ownership for at least 40 years. It's time to tilt the field back to rewarding labour. Mandate strong unions. Convert corporations into worker co-ops. 70-80% top marginal income tax rate for a few $million.
@stephensowell95785 жыл бұрын
Tim, how do we change the laws for good when the lawmaking is bought and sold.? Please forgive the pessimism.
@TootsRrhir5 жыл бұрын
I have been saying this for years.
@warp655 жыл бұрын
Get rid of the electoral college so the people's vote actually means something.
@fellowcitizen5 жыл бұрын
Absolutely. It doesn't serve society, civilisation, innovation, and it doesn't even serve the billionaires themselves. It just undermines effective governance, productivity, technology, philosophy and justice to have small groups or individuals exert such gravity upon states and communities.
@youtubesucks1499 Жыл бұрын
So what's the INCENTIVE to create a product like Ring?
@MrMarinus18 Жыл бұрын
I think it's due to a human flaw in that we only see things in relative terms. We only see what makes us get ahead and what makes us fall behind. Even though falling from 100 billion to 1 billion makes no difference in living standard or even your sense of worth in the company it's still a reduction of yourself and so people resist it. It's been shown many times that increases in wealth do provide happiness. The crucial thing though is that it's INCREASES that do it, not wealth itself. A doubling from 10k to 20k has the same subjective effect on people as doubling from 100b to 200b.
@XR650L_GUY5 жыл бұрын
I'm tired of seeing hard working people in poverty.
@carolmosher77455 жыл бұрын
Then they need to work harder or at least smarter.
@lynnwood72055 жыл бұрын
@@carolmosher7745 No. They needed to pick better parents or find better luck.
@carolmosher77455 жыл бұрын
@@lynnwood7205 No one can pick their birth parents, or find luck, but we can all work to become luckier. No excuses.
@bradchristy84295 жыл бұрын
Lynn Wood Luck is what happens when preparation meets opportunity. The only people not prospering are those choosing not to.
@lynnwood72055 жыл бұрын
@@bradchristy8429 The second sentence does not follow from the first. Life sometimes interrupts, fate intervenes, the gods decide to have fun.
@jlrob855 жыл бұрын
I’m a conservative and I approve this message. The US has been lost to greed for decades. Hard to change that
@NaphthaleneNiemi11 ай бұрын
youll find that conservative values tend to align with billionaires far more than they do with the public's.
@chillbeatz680511 ай бұрын
🤡🤡🤡🤡@@NaphthaleneNiemi
@fritzforsthoefel80317 ай бұрын
I agree there is greed that is destroying our nation and that person is you not billionaires @@NaphthaleneNiemi
@fritzforsthoefel80317 ай бұрын
Here is proof if you draw fifteen hundred a month in ss till your eighty that's over two hundred thousand dollars and you did not pay that much in ss taxes and the average person draws out three dollars for every dollar paid in medicare taxes the difference between what you pay in taxes and what you receive is added to our enormous unimaginable debt our children will have to pay for the top five percent pay over half the federal taxes
@fritzforsthoefel80317 ай бұрын
Elon musk paid over 12 billion dollars in taxes last year and what did the government do with his money things like paying Harvard university seven hundred thousand dollars to blow lizards off trees with leaf blowers musk on the other hand lives frugally and reinvests most of his money back into the corperations he runs employing thousands of people makeing environmentally friendly products mabey musk should get a tax cut so he can create more environmentally friendly products and employee more people or should lizard blowing government get more of his money@@NaphthaleneNiemi
@veronicatinkins72805 жыл бұрын
Thank you Robert Reich for your continual efforts informing and enlightening the public, we cannot mobilize without educating the uninformed. And you do it in such a succinct way, making it easy to comprehend, brief and to the point.
@valeriestasik32525 жыл бұрын
Because of my fixed income, medical expenses, small donations, mortgage interest, and real estate tax, I had no tax liability for about five years. This year, I owed taxes while the super rich and many corporations paid nothing.
@carolmosher77455 жыл бұрын
Then you should start a corporation. Participate or be quiet.
@valeriestasik32525 жыл бұрын
@@carolmosher7745 Personal attacks get people nowhere. Suggest you research the 2010 Citizens United decision and how it's affected campaign finance.
@carolmosher77455 жыл бұрын
@w9j15g I did post something constructive But you are to lazy or stupid to recognize it.
@carolmosher77455 жыл бұрын
@@valeriestasik3252 No one attacked you. And complaining and whining like a victim gets you nowhere fast. Citizens United has nothing to do with your tax liability, or ability to get rich, or even become a billionaire. Give up the liberal leftist, socialist agenda and get to work!
@bobg.32065 жыл бұрын
Corporations have never paid taxes. They pass those onto their customers. Increase their taxes you just increase the prices you pay for things. Since they employ a lot of people, develop most technology and engage in a lot of philanthropy, why are we taxing them at all? The super-rich pay the majority of taxes. The 47% at the bottom pay no income tax. When the 47% start paying their fair share, when everybody has some skin in the game it will make sense to ask the people already paying the lion's share to pay more.
@Tommy_Mac5 жыл бұрын
It's communism for the rich because they can control their tax 'fate' . Capitalism for the rest of America that plays by the rules which were enacted in the rich people's favor.
@menilakataraseefluppenimia69705 жыл бұрын
@Dim the money they use to pay the tax came from the labor of the people they exploited.
@menilakataraseefluppenimia69705 жыл бұрын
The "freedom of capitalism" is the freedom to either starve or be treated like shit. People have many reasons they can't find another job and the employers set out impossible standards for applicants. Capitalism is a lottery where 80% you're guaranteed to die from lack of accessibility to basic necessities. You're a naive and entitled bootlicker.
@ciri19935 жыл бұрын
Dim lol bullshit.
@bobbysworld2819955 жыл бұрын
Socialism for the Rich, Rugged Individualism for the Poor. - MLK, jr.
@menilakataraseefluppenimia69705 жыл бұрын
Must be nice to never experienced homelessness or get denied government support
@ih8myfriends5 жыл бұрын
the sad thing is most people assume we have functional monopoly laws
@brian-beeler5 жыл бұрын
Where I use to live I had city owned fiber to my home and a choice of four ISPs to choose from at a cost of about $20 per month unlike here where there is no choice. Where was that: Da Nang, Viet Nam.
@Lobos2225 жыл бұрын
+ih8. Plenty of examples were "monopoly" laws work. Where I live regulation dictates that only a single company, partially owned by the government, can "own" (more like own the responsibility for it) the telecommunication infrastructure. In turn regulation also dictates what they can charge for anyone, including themselves, for using that network. In short, plenty of ISP choices and no shitty infrastructure nation wide. Then we have the Wine monopoly (governmental owned alcohol stores), the only place you can buy booze if you are not on the town drinking at a bar.... Oh you meant in the US? LoL, yeah, there its "private solves everything", more like if some company has the infrastructure and the cost to impose on that is too great for their competitor. Why bother upgrading when people are forced to use the shitty private service anyway!
@Lobos2225 жыл бұрын
@Dim Standard oil back in the day. Some telecommunication companies in some areas, water companies in other, train etc etc. Monopoly doesnt mean it has to be nationwide, you dumb fuck. If you have ONE choice between X and Y area to travel. THAT is a form of monopoly.
@gary_stavropoulos5 жыл бұрын
Lobos222 those monopolies are/were maintained by the government. The phone companies claimed if they didn’t have full control over the system they couldn’t guarantee it would work. The only monopoly I know of that wasn’t endorsed and defended my government is de beers (the diamond distributor).
@timg1855 жыл бұрын
ih8myfriends i agree . Let’s fix the monopoly laws instead of over taxing
@TomasAWalker532 жыл бұрын
Everything you say makes complete sense, and I like that you finished with four definite means to rein in runaway capitalism. I began a losing streak in the recession of 1981-82. I had two young children and a wife and a union job. I worked for the next thirty years after losing my union job in 84. I never did get a chance to work for a union company again, and my income dive bombed, taking my benefits with it. I had to work twice the hours to make what I used to make in a regular fourty hour week. Two divorces later and by 2007 I was able to semi-retire in a rural location and was learning to accept that my entire working life was a waste as we were never able to buy a house or save any money. Then 2008. One year later, my job gone, I had to work a hard physical job for ten bucks an hour and no benefits whatsoever. I'm Canadian, so at least my medical was free. I hope you can understand, but I don't believe you will be successful in your endeavours. You got Trump and we suffer. You get rid of Trump, and he'll be back or someone more competent than him. At our age, I think our generation expected to be a lot further advanced as a people. I really dread the next twenty years of my life and what will become of my adult children and grandson. We've all been asleep at the switch.
@MrHyroglyph5 жыл бұрын
This all stems from: -Corporation is a person- -$ are votes- (Numbers are valued, humans are chattel)
@charlesbrightman42375 жыл бұрын
Don't worry, Billionaires and even Trillionaires will all die one day from something, will forget everything they ever knew and experienced, and will all be forgotten one day in future eternity as if they never ever existed at all in the first place, (just as the rest of us will too). (Copy and pastes from my files): Consider the following: * There are 3 basic options for life itself, which reduce down to 2, which reduce down to only 1: a. We truly have some sort of actual conscious existence throughout all of future eternity. b. We die trying to truly have some sort of actual conscious existence throughout all of future eternity. c. We die not trying to truly have some sort of actual conscious existence throughout all of future eternity. * 3 reduced down to 2: a. We truly have some sort of actual conscious existence throughout all of future eternity. b. We don't. And note, two out of the three options above, we die. * 2 reduced down to 1: a. We truly have some sort of actual conscious existence throughout all of future eternity. b. We truly don't have any conscious existence throughout all of future eternity. (And note, these two appear to be mutually exclusive. Only one way would be really true.) And then ask yourself the following questions: 1. Ask yourself: How exactly do galaxies form? The current narrative is that matter, via gravity, attracts other matter. 2. Ask yourself: How exactly do galaxies become spiral shaped in a cause and effect state of existence? At least one way would be orbital velocity of matter with at least gravity acting upon that matter, would cause a spiral shaped effect. 3. Ask yourself: What does that mean for a solar system that exists in a spiral shaped galaxy? Most probably that solar system would be getting pulled toward the galactic gravitational center. 4. Ask yourself: What does that mean for species that exist on a planet, that exists in a solar system, that exists in a spiral shaped galaxy, in an apparent cause and effect state of existence? Most probably that if those species don't get off of that planet, and out of that solar system, and probably out of that galaxy too, (if it's even actually possible to do for various reasons), then they are all going to die one day from something and go extinct with probably no conscious entities left from that planet to care that they even ever existed at all in the first place, much less whatever they did and or didn't do with their time of existence. 5. Ask yourself: For those who might make it out of this galaxy, (here again, assuming it could actually be done for various reasons), where to go to next, how long to get there, how to safely land, and then, what's next? Hopefully they didn't land in another spiral shaped galaxy or a galaxy that would become spiral shaped one day, otherwise, they would have to galaxy hop through the universe to stay alive, otherwise, they still die one day from something with no conscious entities being left from the original planet to care they even ever existed at all in the first place, much less that they made it out of their own galaxy. They failed to consciously survive throughout all of future eternity. 6. Ask yourself: What exactly matters throughout all of future eternity and to whom does it exactly and eternally matter to? Either at least one species truly consciously survives throughout all of future eternity somehow, someway, somewhere, in some state of existence, even if only by a continuous succession of ever evolving species, for life itself to have continued meaning and purpose to, OR none do and life itself is all ultimately meaningless in the grandest scheme of things. Our true destiny currently appears to be: 1. We are ALL going to die one day from something. 2. We are ALL going to forget everything we ever knew and experienced. 3. We are ALL going to be forgotten one day in future eternity as if we never ever existed at all in the first place. Currently: Nature is our greatest ally in so far as Nature gives us life and a place to live it, AND Nature is also our greatest enemy that is going to take it all away. (OSICA) * (Including the rich, powerful, and those who believe in the right to life and the sanctity of human life, nature is not biased.)
@ubik4595 жыл бұрын
Yes we should by taxing already accumulated wealth. Billionaires are the excrement of our messed up economic system, i.e. corruption of all sorts. 60% of wealth is inherited? That's sick.
@davidlafleche11425 жыл бұрын
Start by going after Bernie and Hillary.
@Schmidty15 жыл бұрын
@@davidlafleche1142 How is Bernie Sanders 1-2 million dollars, which is still the poorest senator in the nation even in this 'debate'. You are comparing this to fucking Jeff exploitation 101 Bezos 150 billion. What you are is a Republican *HACK.*
@CarFreeSegnitz5 жыл бұрын
Puts the lie to the ideallists' meritocracy. There are a huge number of untalented slackers with $billions to their name. Their only accomplishment is winning the birth lottery.
@davidlafleche11425 жыл бұрын
@@Schmidty1 I don't believe in Democracy (Hosea 8:4, KJV). We need a Monarchy. Judgment is coming to this devil-worshipping, baby-butchering, drug-addicted nation. "Repent ye: for the kingdom of heaven is at hand" (Matthew 3:2, KJV). Even so, come, Lord Jesus!
@blondiegreeneyes48025 жыл бұрын
David Lafleche This is why I hate religion; it makes people stupid. Grow up!
@Applecorecafe5 жыл бұрын
Everything benefits the super rich. The rest of us are just as fucked as ever. The beginning of the end was Trickle Up Economics, thanks Ron!
@Gymnopediea5 жыл бұрын
Warren for president!
@TimSavage-drummer5 жыл бұрын
It's more like a flood than a trickle!
@vera47995 жыл бұрын
Warren or Yang in that order.
@bradchristy84295 жыл бұрын
Guapo da God Yup. And data shows that most family fortunes rarely survive the third generation. But facts are lost on Marxists.
@eagle36764 жыл бұрын
@Rob Genson that's the fake name given to it. It really was just flooding up
@Helfirehydratrans2 ай бұрын
One thing that should be illegal is, if you are a politician, you should no longer be allowed to stock trade, and if you’re a former politician, you should not be able to work for a company that you gave favouritism to during your politician because a lot of congressman go between being a corporate board member to a congress person America is ran by corporations
@antoniocalhau47114 жыл бұрын
Thank you Robert Reich for making these videos available and help us to think about the academic problems of governance.
@DEATHxD3ALER5 жыл бұрын
Want to make america great again start taxing everyone who makes over 50 million a year like they did in the 50s up to 50 mill. at the regular rate everything over 50 mill. at a 90% rate thats how we were able to build the U.S. interstate system and keep our infrastructure in tip top shape......
@josephvalvano8295 жыл бұрын
Funny, they will tar and feather you and bring out the boogeyman of socialism, if you pursued tax rates that were normal before. What has happened?
@krokodyl19275 жыл бұрын
x_WARHOG_x How & why was that discontinued?
@magusyilie5 жыл бұрын
Really need to start it at 10 million.
@DEATHxD3ALER5 жыл бұрын
@@magusyilie True I just through out 50 million just to keep the heads exploding to a minimum.
@Gymnopediea5 жыл бұрын
Warren for president, please. Most politicians don't even understand this level of things.
@KennethHaineskbh5 жыл бұрын
“Never be deceived that the rich will allow you to vote away their wealth.” Lucy Parsons
@afarkinconspiracy68645 жыл бұрын
That's why they cut their heads off in the French revolt. Hopefully that is not the path we're forced down, but with guys like the Koch's and Bezos leading the charge...... reminds me of King Louie the XVI. He loved gold as much as Trump does.... the new king? Will trump (yes I remove the capital. He doesn't deserve it) have his head taken in a guillotine?
@bradchristy84295 жыл бұрын
Kenneth Haines Never be deceived that you can vote yourself successful. That takes work. The lazy always have the best excuses.
@Druzidel5 жыл бұрын
@@bradchristy8429 Sure, it takes such hard work to inherit wealth...
@bradchristy84295 жыл бұрын
Druzidel Nope. It takes hard work to create it. Statistics show that family fortunes rarely survive the third generation. The only ones that do only do so because of the work that is, in fact, put into maintaining the wealth generating mechanisms that created it to begin with. Such envy, spite and ignorance.
@dontaylor73155 жыл бұрын
@@afarkinconspiracy6864 That conjures up the French lady at the guillotinings catching heads in her knitting basket. That particular head would contaminate the basket.
@patrickbaillargeon80515 жыл бұрын
The game is fixed. Plain and simple. People learn so very little from history.
@r.d.93994 жыл бұрын
Imagine capping wealth at 100,000,000. After that they must retire and take no part in any of the worlds markets. Also, pegging ceo to lowest worker pay would be amazing. No CEO should make 20 times more than the lowest wage employee. This would help our system much than any other idea. No need to have billionaires and the mega rich soaking up all wealth while the rest suffer.
@hman29124 жыл бұрын
@@r.d.9399 why stop at $100000000? Why not $1000 000 or $100 000? By wealth do you mean liquid cash or assets owned such as businesses and real estate? What if as a result of CEO quitting, said company goes bankrupt and all employees lose jobs? Is this good or bad? Just trying to understand this idea better. 👍
@r.d.93994 жыл бұрын
@@hman2912 Once you have 100,000,000 in cash you should leave all markets. That's enough money to care for a family for multiple generations. Replace the CEO with another CEO that's not as rich. They do it all the time as is.
@hman29124 жыл бұрын
@@r.d.9399 fair point. 100 million is a lot of wealth. Why stop there? Why not 1mil? Would be easy to have a billion dollars worth of assets and zero cash, is that fair game?
@r.d.93994 жыл бұрын
@@hman2912 Once the assets reach that point you will sell and take your earned cash. Trying the avoid leaving the markets should not be tolerated.
@mayhoo221 Жыл бұрын
I think this is one of the best explained and informative views of why people are “anti billionaires”
@brentb53035 жыл бұрын
It makes me feel good knowing some people can live lavish lifestyles without working a day in their life while I work 65-90 hours a week to live paycheck to paycheck. It's a real warm happy feeling. It feels fair.
@flan64493 жыл бұрын
Those people are born rich. They got lucky. How would you feel if people shit on you for winning the lottery. And self made billionaires work smarter. It’s no ones fault but your own if you decide to be a worker bee and nothing else
@brentb53033 жыл бұрын
@@flan6449 So you've never heard of estate tax? You're unaware that Trump lowered it significantly? I'm for a fair system that will enable the most citizens to prosper. You just throw your hands up and claim the issue is random chance. I'm going to disagree with you on that. The system is rigged to favor generational wealth. There is many tax loopholes that can be closed. I will pay over $15,000 in federal income tax alone this year. Which happens to be $19,500 more than Jeff Bezos paid in federal income tax in 2017. If that seems fair to you I promise you are overestimating my yearly income.
@flan64493 жыл бұрын
@@brentb5303 Jeff bezos is not generational wealth nor was bill gates. They thought if something and enough people bought it simple as that
@brentb53033 жыл бұрын
@@flan6449 You're right why should billionaires pay any taxes when working people can pick up their tab. Your making a lot of sense.
@brentb53033 жыл бұрын
@@flan6449 ...and I thought you were a child with your ridiculous anime picture. Well played sir.
@sawdat93765 жыл бұрын
Step 1, take money out of politics. Step 2, reclaim our democracy. Step 3, vote the billionaires out.
@andromedagalaxynebula57515 жыл бұрын
No more Lobbying No more bail outs No more corporate welfare and subsidies No more corporate money in politics
@stevechance1505 жыл бұрын
And Term Limits. No more serving in Congress for twenty or thirty years. There are 327 Million people in America. We have enough honest, ethical people that we shouldn't have the same folks serving term after term after term.
@blondiegreeneyes48025 жыл бұрын
Americans are bewitched by the rich and powerful. Why do we vote for these rich bastards?
@theonceandfuturething39995 жыл бұрын
@jdslyman It's worse than that. Boss Tweed once said, "I don't care who does the electing, as long as I get to do the nominating." People can't get nominated without financial support. Publicity costs too much. Guess who provides the financial support?
@blondiegreeneyes48025 жыл бұрын
jdslyman You make excellent points re: electoral college, gerrymandering. But there were how many millions who watched The Apprentice?
@stop-the-greed5 жыл бұрын
Time to end predatory capitalism and rebuild democracy
@youtubesucks1499 Жыл бұрын
So what's the INCENTIVE to open a business like Ring under your democracy?
@kondenkor Жыл бұрын
@@youtubesucks1499 nobody said you can't earn more money when you get a successfull business the point is the power should lie with the people and you should not gain insane power by being rich. When these people do not have the power the laws will not change in their favour all the time. The rich stay rich because they themselves will decide on what laws get passed indirectly, which hurts the general public and therefore should be abolished, nobody wants communism.
@gordonquigg93895 жыл бұрын
This video is exactly what everyone on earth needs to see, and exactly what the billionaires don't want anyone to know.
@timmarshall72925 жыл бұрын
Those who support the Democratic Party elected a Billionaire for their Governor of of Illinois. Isn't at least one Democratic Party Presidential Candidate a Billionaire? Isn't Mayor Bloomberg of New York City a Billionaire? It is possible that the Democratic Party has more Billionaire supporters than the Republican Party. We may have Democratic Party Billionaire Collusion. The Democratic Party will not mind at all using Billionaire money to set up their Socialistic Tyranny, the masses will become equal, equally poor and our Political Leaders will continue to live in big houses on a hill forcing their sense of morality onto the citizens. Less government and more Liberty for me!
@mickeyrosa72265 жыл бұрын
@@saulflores3624 Bye bye fluoride troll.
@ghorn12175 жыл бұрын
Saul Flores Agreed.
@timmarshall72925 жыл бұрын
@steelhound duncan finish high school; just kidding, I don't know you or any of your achievements, but I would suggest that you also get a wider repertoire.
@michaelregis10153 жыл бұрын
Billionnaires own social media sites. If they didn't want you to see, trust me, you wouldn't.
@Raykibb15 жыл бұрын
I am an attorney that has worked closely with economists on cases involving lost wages and loss of earning potential in personal injury cases. Economics is not the sexiest topic to discuss, but I could listen to Robert Reich all day.
@sillysimion60793 жыл бұрын
I wouldn't necessarily abolish them but I would definitely make it very very difficult to be one, like Europe. We used to have a top tax rate in 1959 of 91% very difficult to be a billionaire. In fact they really didn't start to become a "thing" until Bill Gates and Steve Jobs in the mid-90's. Before them you gotta go back to the Gilded Age to drum them up. Before Gates and Jobs, there were lot's of millionaires around, not a lot of billionaires. In fact I would rather have one thousand million millionaires then one billionaire. They do soooooo much more for society. One thousand million millionaires buy more toilet paper than 1 billionaire, more homes than one billionaire, so much more kit kats, more flights, more condo's, more boats, more cars...more of just about everything, one thousand million more in fact! Talk about a boom to the economy!
@jsebby22842 жыл бұрын
The top tax rate is completeky meaningless. Nobody is making a billion dollar salary
@jneff64565 жыл бұрын
"Should We Abolish Billionaires?" - Yes. Yes we should.
@UpperCaseX5 жыл бұрын
Sieze the means of production ☭!
@UpperCaseX5 жыл бұрын
@@Airlane-rq9yd Rape and kill them like the Romanov Dynasty
@iironhide62095 жыл бұрын
Why
@claudiar71865 жыл бұрын
@@UpperCaseX Spoken like a true Commie Jew. How well did it work out for Russia? Not too good.
@stuartd97415 жыл бұрын
@steelhound duncan yea was thinking the same about @Dim. I honestly thinks he believes that. 40% figure.
@nancyfahey75185 жыл бұрын
Paying off politicians is the #1 offence against us that burns my butt. They are supposed to be working for us. And the results is the opposite. And the bastards line their pockets. If I was younger . . .
@snoopy_peanuts_775 жыл бұрын
hence why so many like Bernie
@katiekane52475 жыл бұрын
This granny supports Bernie, even on my poverty level Social Security, I send some every month. My grandsons life depends on meaningful change stat!
@Gymnopediea5 жыл бұрын
@@katiekane5247 Try Warren...she'll get it done in your lifetime...and that's where Bernie got most of his ideas.
@tammywilson16385 жыл бұрын
@@Gymnopediea warren has admitted in many interviews that she doesn't support a single payer healthcare system, already said that if she won the nomination she would begin holding fundraisers for corporate donors after running a grassroots campaign to get to that point, and stated repeatedly in interviews that she supports a pure capitalist system. She's only playing progressive now because of all the energy Bernie drew.
5 жыл бұрын
@@Gymnopediea no. if you haven't noticed Bernie is the one that kicked the entire discussion left. everything he's been talking about, he's been pushing for decades. now it's mainstream. even trump took his ideas and attacked HRC FROM THE LEFT! of course trump was lying. warren even plagarized Tulsi's takedown of ryan on the debate stage the next day. . drumpfh will wipe the floor with warren. Sanders/Gabbard could beat the DNC and the RNC if you "centrists" (Reagan repubs) would get the hell out of the way. you've been warned.
@grmpEqweer5 жыл бұрын
Unfettered capitalism leads to this sort of thing. Capitalism is competition. *But no competition lasts forever.* Eventually capitalism naturally leads to a few powerful corporations running the market sectors, they gobble up or shut down the competition. And in many countries, these corporate overlords have gotten so wealthy that they have purchased the government... This merger between government and business has been called corporatism. Edit for spelling.
@Gymnopediea5 жыл бұрын
Exactly correct. No competition lasts forever...eventually the winner eats up the rest if they aren't regulated.
@limacnaughton33525 жыл бұрын
Look at feudalism.... Any similarity to where we seem to be heading?
@Llynnyia5 жыл бұрын
bravo well stated!
@bartdoo57575 жыл бұрын
You're describing crony Capitalism.
@LordZontar5 жыл бұрын
Without regulation , ALL capitalism degenerates into cronyism. Without fail.
@bettythompson74015 жыл бұрын
The Billionaire should pay 50% on income....this would help the USA and put a good balance in the taxes.
@TheReviewSpace5 жыл бұрын
If you have 5 billion dollars, do you REALLY need another 20 billion dollars? SMH. Greedy people make me SICK.
@WhiteDragon6895 жыл бұрын
The way its going, the super rich will find themselves in a situation like that of the French Revolution.
@jsmeswagner61045 жыл бұрын
No they won't. Your government has betrayed you. One side steals your money the other side calls it negotiating. Either way you have no say
@marvinmartion11783 жыл бұрын
I'll be glad to help! I'll build the guiliteen
@margaretjohnson62593 жыл бұрын
i'll be there. i don't consider billionaires human
@margaretjohnson62593 жыл бұрын
@@jsmeswagner6104 we have guillotines.
@racewiththefalcons13 жыл бұрын
Not as long as they own and control the police, who are too stupid to understand who their real enemy is.
@BdR765 жыл бұрын
Nick Hanauer, an early investor in Amazon, wrote an interesting op-ed in Politico called "The Pitchforks Are Coming... For Us Plutocrats". That was a couple of years ago and the things he wrote are still true.
@justin21685 жыл бұрын
If you haven't already, check out his podcast "Pitchfork Economics"
@thomasr71295 жыл бұрын
He's got A LOT of good talking points. There's also a TED talk: www.ted.com/talks/nick_hanauer_beware_fellow_plutocrats_the_pitchforks_are_coming?language=en
@juliusmerlino20275 жыл бұрын
Podcast is great
@donharris88465 жыл бұрын
Funny thing is. No pitchforks are coming. We have a love affair with Amazon. That’s how Bezos got to where he is now. What large swaths of people are ready to stop ordering from the amazing Amazon?
@thomasr71295 жыл бұрын
@@donharris8846 - well, I have... ;)
@dickgrayson43253 жыл бұрын
Everything in this video has been debunked. This guy is dishonest.
@Gnashercide2 жыл бұрын
True
@monsterram66175 жыл бұрын
Yes, we should tax billionaires and hundred-millionaires out of existence. No human needs even 50 million dollars of shit. It's all about greed.
@UpperCaseX5 жыл бұрын
says a brokester ☭
@josephhmunsanga47573 жыл бұрын
Says a sore loser.
@ronaldbennett31743 жыл бұрын
Thank you Mr. Reich for telling it like it is!! It pisses me that the 1% aren't held accountable while everybody else struggles. Ever since this pandemic started I've watched Americans really struggle,suffer & hunger it shouldn't be like this!!
@kameroncole556611 ай бұрын
You would have hated 2007
@mizzou10168 ай бұрын
Why don’t you use that energy to actually build your own wealth instead being a hater?
@DanivirAmadeus3 ай бұрын
@@mizzou1016 Lack of self-love. They don't want to lift themselves up, they find it more interesting to tear others down.
@DoctorFixMaster3 жыл бұрын
Spot on Robert. One person making that much money is obscene, but you know what? Their money will never catch up with their egos. No one can even comprehend that much money, let alone spend it. The power that comes with it is dangerous to democracy. We need to be aware of it and end it before it concentrates money and power irreversibly.
@pianystrom81375 жыл бұрын
Just learned today that working in a warehouse is more dangerous than working in a mine, according to the John Oliver show. That should tell you something about Bezos, who is for some strange reason described as a philanthropist on the first page that shows up on Google about him. Let smart people make good money, but never by destroying the health of others. Share our wealth! We need a new Huey Long!
@pianystrom81375 жыл бұрын
@Sheryl Kimball Fighters for equality will get murdered. Scary job to take on for most people.
@jimhayes40435 жыл бұрын
Robert Reich! You go! I get a lot out of these shorts. Thank you.
@hategreed15 жыл бұрын
Too bad so few Americans view his videos.
@BlackIce31903 жыл бұрын
kzbin.info/www/bejne/Z6m7iY2LgMSNhMk
@zoharianovici19835 жыл бұрын
Dear Prof. I am a student of economic history and development and take particular interest in the role of economic and political elites in the latter. I think there are many historical examples of what happens when the power of elites is left unbalanced: the slow decay of society and the eventual political revolution. perhaps you can draw on some of these in your next videos or lessons. not sure how many economists studied how much inequality leads to revolution but I personally find that it is a very interesting (and urgent) topic to analyze
@stevec4042 жыл бұрын
Zohar - I bet the correlation is obvious...and tragic.
@forzafan92 Жыл бұрын
we are already seeing the start of a revolution, the sheer amount of theft, and the closing of businesses because of said theft.
@Vic2point03 жыл бұрын
No we should let people be free to give money in accordance with their values (which is what we've done by giving billionaires our money in exchange for goods/services).
@LydiaScherr3 жыл бұрын
Yes, I think you made excellent points, there is an organization called RepresentUS that is working very hard to eliminate the legal corruption in politics. Please support the "For the People Act"!
@Idonotsa495 жыл бұрын
We don’t need to get rid of billionaires, we need to get rid of the way people become billionaires. If people can become billionaires in a legitimate way, that’s fine, but the ways that billionaires have gotten their share of wealth and the effects of that on the rest of the people are a major problem.
@andromedagalaxynebula57515 жыл бұрын
Lobbying should be illegal.
@Ultimime5 жыл бұрын
Exactly what he said in the video.
@Idonotsa495 жыл бұрын
Skep Kim I was just agreeing with him and saying it in a more concise way.
@Idonotsa495 жыл бұрын
Andromeda Galaxy Nebula I think a complete ban wouldn’t be perfect, but severely limiting it is a great idea.
@EternalKernel5 жыл бұрын
There is no legitimate reason for a person to have one billion dollars when there are so mant people living in slavery.
@DavinnaJo5 жыл бұрын
I appreciate the way Robert breaks down complicated economic and political topics into bite-size chunks that laypeople like me can understand. I learn so much from this channel. Thank you!
@brian-beeler5 жыл бұрын
I love it when he draws out his ideas. It's the icing on the cake. I bet his classes are really interesting.
@wvu055 жыл бұрын
@@brian-beeler I've seen some of his lectures online. They are very good.
@arautus5 жыл бұрын
His students are very lucky.
@totalvoid62345 жыл бұрын
Just be aware he doesn't shoot perfectly straight. Everything he says and chooses not to say has its own bias. If you let someone break something down for you you pretty much give them carte blanche to choose the conclusion you arrive at.
@wvu055 жыл бұрын
@@totalvoid6234 That is true about literally every human being who has ever taught or explained anything on the face of the earth.
@grahamturner26405 жыл бұрын
How do we do all that? How would we prevent lobbying when so much of it happens?
@richardbedford66575 жыл бұрын
Vote out corruption.
@ElMundoDeSam953 жыл бұрын
@@richardbedford6657 sadly i think billionaires wont allow us to destroy them and they have the power to fight back we are ants compared to them
@michaelregis10153 жыл бұрын
@@richardbedford6657 How do you prevent corruption: Vote out corruption! How do we live longer: Don't die!
@iamforjustice71665 жыл бұрын
I don't think we should abolish them, BUT we should keep them honest.
@JonathanLevinTKY5 жыл бұрын
I used to follow Reich and even saw his movie, but this is legit like in the Atlas Shrugged book: 1) Monopolies - stop letting government intervene in the economy to create regulation or higher curves to prevent new competition. 2) Insider information - can mean nothing. That whole system of laws is entire subjective to whatever the government at the time feels like. 3) Buying off politician - don't give politicians the power to influence the economy to begin with. 4) Avoid paying taxes - If small companies had the low taxes that large companies had, they could actually compete with them.
@RocketsharK75 жыл бұрын
Monopoly with nearly 50% of the market. Thats the biggest oxymoron ive heard all day.
@DarwinzTheoryz4 жыл бұрын
Are you an idiot? Controlling 50% of econmerce is a monopoly
@RocketsharK74 жыл бұрын
@@DarwinzTheoryz monopoly means controlling all of it. Why the name calling? Lol. Nice response to a year old comment tho. He prolly has like 75% now.
@DarwinzTheoryz4 жыл бұрын
Daniel Barker lmao
@conchobar5 жыл бұрын
I wish he would have spent more time discussing the constant lengthening of copyrights.
@DanDeLeoninthefield5 жыл бұрын
Imagine if Shakespeare's works were under copyrights and those copyrights existed for four hundred years. Someone would be collecting royalties, off a dead man's work, for centuries. No added value. There is something profoundly screwed up in that idea.
@carolmosher77455 жыл бұрын
@@DanDeLeoninthefield Don't be ridiculous. Copyrights don't last for 400 years! And if you don't plan on stealing someones ideas then you have nothing to fear from Copyrights.
@conchobar5 жыл бұрын
@@carolmosher7745 Copyrights currently last 120 years. Walt Disney made his fortune off characters and stories in public domain, yet the company that bears his name fights tooth and nail to make sure its characters and stories don't go back into Public Domain.
@carolmosher77455 жыл бұрын
@@conchobar Wow! And you are upset because you can't steal Mickey Mouse until another 20 years or so?Here is a better idea. Why not create something of your own and apply for a copyright, then get rich? You will feel a lot better about yourself then you would trying to take from someone else handwork, vision and creativity.
@ghorn12175 жыл бұрын
Keith Warner Right, because someone else’s work belongs to random people. You meat puppet.
@katieadams58605 жыл бұрын
Yes we should, even for the most expensive things in life, it's almost impossible to spend that entire $1b in a lifetime
@shadowmancer992 жыл бұрын
No. Its not the right of anyone else to put a cap on what some else can achieve. IF they come with an idea, they should be able to profit from it. Also he LEFT out the athletes and super celebrities who are also in the billionaire or close to it club. What you telling me that some one putting their body on the line/working endorsements should be limited too? Fuck that.
@voldibayizitunda21782 жыл бұрын
Actually spending a billion dollars wouldn't last be difficult;the most expensive thing in life are over a billion dollars and some of the money they have are tied to the company and would have lower value if he/she took out. I'm not supporting billionaires and I don't think anyone should have that much money unless they're going to use it to help those in need
@fritzforsthoefel80317 ай бұрын
The rich pay almost all the federal taxes and get next to nothing in return
@JJVater3 жыл бұрын
The difference between a million and a billion is so staggering and people don’t even realize it, at what point is it more than enough
@PotBanginEejit4 жыл бұрын
No, don't abolish billionaires. Billionaires are a symptom of policy. Fix the causes not the effects.
@nickgangone95415 жыл бұрын
DC lobbyists shouldn't be a thing.
@JoshMcSwain5 жыл бұрын
I wouldn't say we should abolish billionaires but I do agree with the suggested reforms. Why should getting rich be a crime? FWIW, I don't think the reforms listed would prevent any billionaires from ever happening again, but it would help make things better for the country as a whole.
@MindandQiR14 жыл бұрын
I love this man. See him around town in Berkeley at farmers markets, restaurants, etc. To me he is a national treasure.
@J-w-sings4235 жыл бұрын
Robert, you are our hero by enlightening us, and you do it with humor.
@collegeboy3625 жыл бұрын
It amazes me that the ultra rich feel no responsibility to the rest of society. Something must be done through government intervention because these billionaires clearly don't care about the needs of so many suffering Americans. Robert, keep enlightening us about the widening disparity of income in our country. I pray that things will change someday.
@djknight81679 ай бұрын
Why aren't you doing more? You could be helping homeless people right now
@sophmore905 жыл бұрын
Greatly increasing the marginal tax rate for anyone making over 10 million a year should do it. Gotta disincentivize becoming a billionaire as much as possible. The existence of billionaires is a symptom of a broken economic system that does not work for everyone.
@blondiegreeneyes48025 жыл бұрын
YES!
@Navy353 жыл бұрын
I get so sick and tired of millionaires ( sometimes multimillionaires ) cry about billionaires! I probably won’t make a million dollars in my life time, but still know that I’m blessed not living in a third world country. Be happy with what you have. Robert Reich and these progressive politicians and entertainers are living well above the average Americans and still winning about the 1%. Grow up
@anthonyrichards9512Ай бұрын
I thought we had already sorted the monopoly issue out long ago. Although we have all been ragging on Jeff Besos, he was clever enough to diversify his company by offering products, movies, and shipping within the same company. I think that was his genius. In fact, all of the billionaires mentioned and even the ones who weren't, were all able to compound their wealth by making smart investments. So we should first congratulate them on their successes. I don't begrudge them for their wealth, but I do have a concern with how they put back into our system of economics. After all, consumerism by the people is how they maintain and grow their wealth and power.
@WestOfEarth5 жыл бұрын
There's another issue to examine though - extremely tight control on venture capital by venture capitalists. Entrepreneurs today in the US find it difficult to compete with many of the monolithic companies like Amazon or Disney or...the list goes on. And while you mention trademarks and patents - reforming them doesn't help the entrepreneur who has difficulty finding investment capital. And no, this isn't about whether the entrepreneur has a good idea or not. It's a fairy tale to say 'well, if the idea is good enough..." I've been to various conferences, with young entrepreneurs who have great ideas - but where's the VC? Let alone the predatory VCs - some entrepreneurs get desperate and fall for the predatory scams of unsavory VCs. This is a huge problem that isn't being addressed on the national level.
@carrieullrich50593 жыл бұрын
Corporations only want ideas to steal.
@Azknowledgethirsty5 жыл бұрын
Not only are these 4 forms but there is another one, innovation If you have a lot of great marketable ideas you can make billions, albeit harder. Tesla is no monopoly yet Elon musk is a billionaire, Steve jobs was à billionaire who didn't care about money, he literally sold his shares before they got value because he was an innovator who happened to be billionaire This is réductionist of the wealth creation process, even though most billionaires fit your description
@ghorn12175 жыл бұрын
Az4212 knowledge thirsty Some, not most.
@mocki56655 жыл бұрын
And they put Martha Stewart in jail for "alleged" insider trading, pffft!!
@nathalie_desrosiers3 жыл бұрын
Some may say it's because she's a woman, some may say it's because she's not jewish. Maybe she's just not part of the club.
@Islandswamp4 жыл бұрын
Yes. I wouldn't have said that a few years ago, but our inequality situation is getting disgusting.
@EmmettFlo73 жыл бұрын
It's criminal this video only has 11k views as of October 2021. How do we get more eyes on this???
@taramaclaird96335 жыл бұрын
So much needed information is posted here. It is greatly appreciated. Please send a link to Bernie Sanders, especially the ones about Socialism and Healthcare. It could make a profound impact if he were to talk to the people about his plans for implementing these much needed changes in a step-by-step venue for people to see. I am afraid that many, many people just don't get. it.
@gus27475 жыл бұрын
Bob Noyce - the founder of Intel and the co-inventor of the microchip - called money "just a way of keeping score." So you're right. If we sliced a few zeroes off Jeff Bezo's wealth, he'd hardly notice.
@gary_stavropoulos5 жыл бұрын
Mr Gus he would notice that the amount of the company he founded , that he owns is less than before you” sliced off a few zeros”. Robert Reich is counting on you not knowing that a net worth is not entirely money. By not explaining what he is actually advocating for he is lying to you.
@larslundandersen77224 жыл бұрын
@@gary_stavropoulos And if Bezos had been actually competing in an open market, rather than having a Monopolistic position in the market where his company is competing, he would still have a tremendous amount of wealth, but Capitalism would actually be working and he wouldn't have robbed other business owners of a chance to compete with him. Monopolies benefit no one, except for an exceedingly tiny group of investors and business owners. And they don't need the extra help, they are already SUPER RICH.
@gary_stavropoulos4 жыл бұрын
Lars Lund Andersen when did I defend monopolies? Desire your claim amazon isn’t a monopoly there are other online retailers.
@johngarrett87892 жыл бұрын
@@gary_stavropoulos you must be a 1% to come up with that bullshit.
@youtubesucks1499 Жыл бұрын
So why bother starting Amazon if you can't be insanely rich,?
@rgen285 жыл бұрын
you forgot Microsoft. That is a monopoly for very Long time now
@EYTPS3 жыл бұрын
I gotta be honest. I am not a fan of how this debate is frame. "Abolish" is kind of a weasel words that could mean many things. I know most on the center-left don't believe they want to punish people that made a billion dollars out of existence, just that the systems in place are meritocratic and that led to certain individuals making more than a billion when they probably did not earn of all. I think we need to be more specific in our debate formatting so people don't get the wrong idea.
@MrHarveyrex235 жыл бұрын
A fair progressive tax on corporations, inheritance, estate tax, etc. tax corporations that lays off workers and replaces them with automation in order to fund a universal basic income safety net.
@hitreset02915 жыл бұрын
Would have used a word other than 'abolish'. The word 'cull' comes to mind.
@blackSUAAAVE4 жыл бұрын
I was thinking annihilate.
@LeonardoDeVinci14525 жыл бұрын
Nice but that is never going to happen Till we change congress to work for the People. Not just lobbyist and Billionaires until then.
@JohnnyTrece5 жыл бұрын
No, just tax them at a very high rate and use that tax base to properly compensate their workers and public social programs.
@klachingmacgaming84002 жыл бұрын
you know taxing the rich cant help every one we need to tax everyone
@aaronschneider15815 ай бұрын
The rules you posed are correct in my eyes. But they would have to be instated and enforced globally.
@TheFinnmacoolАй бұрын
The suffering in the world from the economic system can never be calculated. It's beyond punishing.
@gearhead13025 жыл бұрын
Try explaining this to a Trump supporter. They think they support free market capitalism lol!
@gearhead13025 жыл бұрын
@Dim pffft. Tired old talking point that has been completely falsified. Try again loser.
@gearhead13025 жыл бұрын
@Dim 😂 I love that you pick the only "socialist" country that isn't doing well and ignore the others. It's literally the worst comparison with America. It has been plagued with autocratic leader and crisis after crisis long before the "socialism" happened. It is in fact, a dictatorship. North Korea calls itself a "Republic" does that mean it is? How about using one of the many countries that were successful before social programs began and found even more success after? Oh ya, it's not convenient for your little right wing political narrative right? Gimme a break this should be so obvious. But of course, anything Trump says is correct and anything against him is fake news so it doesn't matter anyway. Just close your eyes and follow.
@gearhead13025 жыл бұрын
@Dim Social democrat/ Democratic socialist are how Bernie and the like identify, NOT "actual socialist" like you said. But of course you don't know that, you only listen to right wing garbage. You would never even listen to anything he had to say. Listen to you sticking up for the billionaires hahaha😂 you're right about one thing, I don't appreciate them. I don't appreciate someone that riggs the system and throws me some crumbs from the top of the mountain. You are a good little dog they have you trained well. They have everybody believing they should be so grateful they are getting the scraps. Our founding fathers would be ashamed. They were fighters. They believed nobody should rule over another. If they could see these corporations now haha.
@gearhead13025 жыл бұрын
@Dim "the right wing consumes a more balanced media" 😂😂😂😂😂👏👏👏👍👍👍 oh my I almost shit my pants! I live in Nebraska bud. NOBODY is going to convince me that the right wingers aren't insanely biased and only stop by on left wing video's to troll and talk shit. I literally know HUNDREDS or maybe THOUSANDS of worthless Trump supporters. You're so full of right wing Alex Jones propaganda that's it's not even worth talking to you. You're too far gone. I can tell by the crap you say about Bernie. You just proved my point about Venezuela. Just because a country says they are something, doesn't mean they are. They had tons of corruption before they "democratically elected" a dictator. That's why it's a really bad comparison to the USA. Of course once again, you just ignore every other social democracy that is thriving. It supports your confirmation bias to laser focus on a third world country and compare it to the US. Our founding fathers may have been slave owners but that isn't a fair characterization of them. You can't hold someone from history to today's social standards. By that standard literally EVERYONE would be a piece of shit. Freedom has to start somewhere and they were well aware that they didn't have it all figured out that's why they wrote change into the constitution. When people finally did stand up to slavery it was the most brutal war we had ever seen up to that point. Can you think of how people would have reacted many decades before that if they stood up against slavery? They would have lost all faith and trust in the community. You have to pick your battles at the right time. It's just stupid and ignorant for people to say the founding fathers were bad people because they owned slaves. Absolute GARBAGE arguements. Typical.
@tommydooley65653 жыл бұрын
Found it informative??? I think you're a god sent breath of fresh air
@anoynymous100 Жыл бұрын
I might not be American but your view on politics is an interesting and educative lesson any day.
@Semmster5 жыл бұрын
I'm not rich by any stretch of the imagination but I find myself balking at some ideas here. Why shouldn't you cash in if you have an exceptionally good idea and the tenacity and self-discipline to see it to fruition? Shouldn't you reap the reward of your hard work, both mental and physical? Have all billionaires stolen from the rest of us? While I applaud the idea of a more equal distribution of wealth, how much should that be really? Should a person be entitled to an "equal" portion of the result of someone else's industry? If I work hard and accumulate wealth why shouldn't I pass it on to my offspring, or whoever? Why should I bother to do my best if the fruits go wherever someone else decides they should go?
@DonnieBrasco-dy9yd5 жыл бұрын
This guy is a charlatan and his ideas have been disproven innumerable times by actual economic experts. He's just a loud mouth lawyer.
@Champaign11172 жыл бұрын
By all means you should reap the rewards from your business but so should your employees. You couldn't have done it without them. Pay them substantially. In 2021 Amazon's net income was 33 billion with 1.6 million employees worldwide. They could have paid each employee another 15k that year & still would have cleared 9 billion in profit. What else is Amazon going to do with that 33 billion? Pay the people that make your business succeed you greedy, selfish, whiney puke.
@aussie81145 жыл бұрын
I’ve got hardly any money but I’m happy 😀 But I guess if I had a billion dollars I would be much happier 🥳
@patrickt8633 жыл бұрын
It's my understanding that one of the reasons T Roosevelt pushed so hard for anti trust legislation was he believed no company should be so large and powerful that they could jeopardize the economy of the country or manipulate same. Are we not witnessing his concerns become reality? Aren't these issues still in need of resolution?
@aaronmisra7353 жыл бұрын
Yes! They said that for blockbuster. They were definitely a monopoly and wouldn’t be going anywhere soon. They also said that Walmart, GM, Netflix and Whole Foods. The reality is that no monopoly lasts forever without the government getting involved. Second if you have a problem with Amazon or any company that you find a “monopoly” then go find another company to support.
@damianlow3025 жыл бұрын
absolutely true, we do NOT have a free market capitalist system. "the real failure is how our economy is organized" truth.
@mathewmaciolek5815 жыл бұрын
I think George Lucas is bad example of claiming that someone became rich because of a monopoly. He made his money when sold Lucas Arts to Disney.
@brian-beeler5 жыл бұрын
I'll agree because Lucas made his money honestly and paid his people well unlike most others that exploit others purely for profit. Still don't like Jar Jar Binks. =)
@drakedrones9 ай бұрын
It should be illegal to have so much wealth inequality; which includes paying celebrities- movies, sports etc. It’s disgusting
@phillbradshaw71905 жыл бұрын
Bozos built amazon by selling products below cost because the the prime income stream was customers' personal information which was sold w/o permission @ a profit
@d-logan52803 жыл бұрын
The government needs to give people like me more power to cap how successful others are allowed to be! If someone else has more stuff than you, that means they've robbed and are oppressing you! ALL GLORY TO THE STATE!
@balloon45123 жыл бұрын
Alternative Title: Should we take money away from people who successfully made and grew a company let alone from nothing.
@aaronmisra7353 жыл бұрын
Of course we should take money from people who contributed to making the world a better place.
@sofamiller71333 жыл бұрын
100% of those complaining about people who produced a lot more of them are jealous losers.
@josephhmunsanga47573 жыл бұрын
So trueeeeeeeee. Couldn't agree moreeee.👍👍👍👍
@tysongamer6784Ай бұрын
Fr they are just jealous that their laziness wont make them rich so they want to destroy them
@unclehobby62963 жыл бұрын
There are basically 4 ways for a tiny politician to make money, and none of them include telling the truth See, I can do it too
@jerrymc86845 жыл бұрын
They just need to pay whats right to the country that provided them with their wealth. Instead of not paying anything or very little.
@augustconnors260 Жыл бұрын
How can you pay off politicians and not say it is illegal. It's a bribe no matter which way you look at it. If in another country you would go to jail. Thanks again Robert.
@stealthwolf15 жыл бұрын
Amazon is a monopoly with almost 50% of e-commerce sales I don't think we agree on what "mono" means
@anniethenonnymouse3 жыл бұрын
Someone is forgetting basic economics... "I OWN 51% OF THIS INDUSTRY..." you tip into monopoly when you cross that line, darling. I thought that YOU, of all people, would know that, Mr. Wayne...
@kevinfranzen97335 жыл бұрын
I agree with everything here. There are billionaires who have come from poverty like Oprah Winfrey so that illustrates ways to shift the inequality.
@reconty21335 жыл бұрын
Very good and informative video. I think that lifting up the middle class is more important than “regulating” billionaires however. Without a strong middle class our system and our way of life fails not just the economy.
@briang87665 жыл бұрын
Yes absolutely. Billionaires should be taxed 90% on all of their assets & income. And any billionaire who uses their wealth for bribing politicians should be given guillotine treatment in the public square!
@FreedInPieces5 жыл бұрын
I always get called a lunatic when I suggest 'maximum wage,' but what if we let billionaires have a say in where their tax money goes? Take 90% of anything over 100 million dollars on the year, let the billionaire put it into education, military, or what have you (as long as they don't spend it on their own charities.)
@bradchristy84294 жыл бұрын
Logan And the wealthy will only get invest in anything that makes them anything more than $100M/yr. and we all suffer for it. Congratulations. You’ve designed a plan for economic ruin for us all.
@09Jeanine5 жыл бұрын
Thank you for your videos. We definitely have to end the corporate takeover of our government; take it back as the people's government. There is so much to do! How about ending the Federal Reserve bank, as well as ending the billionaire class? We need to make our currency worth something again and bring down the big banks, big military and big oil and gas...
@C3yl03 жыл бұрын
In my opinion there is no need of them. When you start to hoard more resources than you are going to consume in your entire lifetime you are a sociopath.
@justinratcliffe9473 жыл бұрын
Amen. All rich people can go to hell
@bryanrodriquez923 жыл бұрын
Well there goes my dream of wanting to become billionare
@Gnashercide2 жыл бұрын
@@justinratcliffe947 so it's a crime to being successful ?
@reubenry195 жыл бұрын
Amazon isn’t a monopoly, i can go to a store or any other electric website. Just because their service is better doesn’t mean they are a monopoly.
@sawdat93763 жыл бұрын
Imagine that you’re are a honey B 🐝 helping to support the colony. You return home and find that your fellow B’s are hungry, angry and fighting amongst themselves. The first question that you may ask is why aren’t all the other B’s receiving enough nutrients to prevent this from happening? The answer becomes apparent when you discover that a handful of B’s are receiving excessive amounts of nutrients. You ask yourself; what if the nutrients are more evenly distributed as to ensure that each member of the colony receive enough energy to meet their basic requirements? *Happy Ending!* 🐝
@stanislausklim77943 жыл бұрын
Yet, we don't see that actually happening under capitalism.
@devonc28673 жыл бұрын
If you're going to be rich, use your money to help others and your family, be productive with that money, you should moderate it, but don't just save it or use it all for yourself.
@biancaedmonds-unknownlocat78742 жыл бұрын
Robert Reich is a master of simplifying enormous economic, social and political problems and providing fair and sound solutions to them.