Tax the Rich; New Tax Havens; Washington Insiders; Dialing for Dollars | 60 Minutes Full Episodes

Lesley Stahl’s 2010 report on the battle over taxing the rich. From 2011, Stahl’s report on corporate tax rates. Steve Kroft’s 2011 report on insider trading by members of Congress. And from 2016, Norah O’Donnell’s report on congressional fundraising.
#60Minutes #News #Taxes
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0:00 Introduction
0:11 Tax the Rich
13:45 The New Tax Havens
27:17 Washington Insiders
42:29 Dialing for Dollars

[@josephwinslow7613]

We have poor American citizen who had joined our military and put their lives on the line, fight and died, to protect our country. But we, also, have rich businesses and companies who open their headquarters overseas to avoid paying taxes. The poor is also made or asked to carry burden.

[@100perdido]

This aired in 2010, The national debt was 13 trillion. It's 32 trillion now.

[@Beastzeus12]

34 now

[@user-fn9os7gp4w]

This comment was posted 1 year ago, today March 21, 2024 national debt is 34.5 trillion

[@zacbishop9003]

TAX THE POLITICIANS!!!

[@GPWGP]

You obviously didn't make it past the 9th grade

[@CreatingAlong]

It should be illegal for a politician or a politicians spouse to purchase stock while in office.

[@theman44ful]

They do lmao

[@Gregknows-uj8gg]

Ha! Ha! Ha! The Politicians are the ones who make the rules and they will do and make policies that benefit themselves.

[@c2819fnf]

It’s such a joke. Tax the people that buy lobbyists. Lol.

[@ClassWarVeteran]

Rich Man’s World kzbin.info/www/bejne/r5KldmCFppmsaKM

[@jkacz9466]

Bingo 🎯, It is a joke. Red or Blue, What's the difference. A one party system with two factions.

[@kayt9576]

Lobbyists for all corporations need to be limited. There are 3 lobbyists for every congressmen and senator in U.S. government. How lobbyists does oor citizens have?

[@learndo7405]

Tax the heck out of lobbyists. They're all a bunch of greedy lawyers anyway.

[@richlemmon8296]

I agree with you

[@Taurusboy07]

No matter how much this matter is dissected, it all results to GREED!!!!!!!

[@carolynmorris7303]

Worse than that!

[@kayt9576]

I dont think that taxing incomes over $250.K , a rich mans tax rate at 30% is outrageous.. After WW2 the top earners had a 50% income rate 30% is not to high at all

[@rewardilicious]

What about before WW2? And do you realize when they had insanely high taxes in the past, they had more loopholes? Also I'll never understand how people want to have a higher percentage tax for the rich. Percentages already scale. If someone makes 10 billion dollars, and they pay 20% that's 2 billion. If you make 50K and pay 20% that's 10K. The billionaire still pays 200,000x more. If you guys want meaningful change you have to be fair. Flat 20% for everyone, all loopholes cut out. And the poor will already get government assistance so their effective amount of money paid falls naturally that way when they get let's say 10K worth of benefits.

[@jonathanself3474]

This is one of the most anger inducing videos I have seen about politics recently.

[@genepozniak]

This was from 2010. Things have changed.

[@kmlund42]

The greed among the rich is gotten out of hand and so sick of it.

[@giuffre714]

Can you provide an example?

[@jamesbillingsby8043]

@@giuffre714 Watching CPI go up 500% since 1970 while wages went up 80%, profiting from the increased CPI. Neglecting to pay fair wadges, now we lost the middle class.

[@giuffre714]

@@jamesbillingsby8043 Didn't people make $5 an hour in 1970?

[@hairyjohn5825]

Corporate and government greed is the real problem.

[@ClassWarVeteran]

Then let’s change the system that inherently gives rise to this and even incentives it. kzbin.info/www/bejne/r5KldmCFppmsaKM

[@AmericanTeacher-USA]

Alex Murdaugh.......

[@randibgood]

​@@AmericanTeacher-USAThat was individual greed.

[@mshellasotoms7426]

if they have headquarters outside of the USA, to be able to service the USA, they have to pay taxes

[@bdanner302]

ohhh but your going to raise how much it costs to go on a cruise! its everybody's RIGHT to go on a cruise 🤣

[@rewardilicious]

You think they don't pay other taxes to service the USA? Import taxes. Payroll taxes. Sales taxes (which they collect and pay.) Capital gains taxes for the shareholders (double tax.) Property & TPP taxes on their assets here.

[@nanizon]

@@rewardilicious Obviously they do not pay large enough Import Taxes!

[@SandyWolf-]

I'm about to turn 59 on the 17th of this month and I've been watching this show I'd say for at least 50 years! ty for excellent programing and congratulations on the success of staying on the air!

[@M.M0709]

Wishing you not only a Happy Birthday on the 17th, but many more years of joy!

[@SandyWolf-]

@@M.M0709 thank you!😁

[@leonardjoseph6309]

Very true 🙏 they did really good.. happy birthday to you on the 17

[@ldIezz]

happy late bday

[@markmadsen6828]

The Gov. PAYS them to stay on AIR... In 2023 anyway...

[@HTV-2_Hypersonic_Glide_Vehicle]

3:19 if you think that is big, the Total Unfunded Liabilities is more than $180 Trillion. Liabilities towards the government equally spread out to every citizen of the United States would leave every citizens to pay more than $543,000 to the U.S. Government to eliminate the Total Unfunded Liabilities. We can't go on forever like this. Rising liabilities and a decreasing workforce is a recipe for disaster for the future of the U.S.

[@AlicePeabody]

Lacking an awareness of humanity, fairness, and justice, all I can say is that I am so grateful to not be holding their hand on their judgment day.

[@Jon-fx9iq]

just pay your taxes. quit being so damn greedy. you already are rich and live a top-notch life.

[@war8036]

“Soft corruption” that’s a new one

[@diannadima7082]

Our government has forgotten about their constiuants. We put your where you are at. You owe us, the American people. You owe us to do your job and legislate and get to work for America.

[@dianadzudza508]

In your dream….

[@mshellasotoms7426]

Some of these agencies should be investigated, they might be committing fraud

[@DrDetfink]

He says taxing the middle class? Oh local governments are doing plenty of that already.

[@ClassWarVeteran]

Rich Man’s World kzbin.info/www/bejne/r5KldmCFppmsaKM

[@isaac.anthony]

If you're getting taxed it's because you're not rich enough, or not smart enough. It's EASY to hide money and assets if you have the right accountants and lawyers, so are you dumb or wannabe rich and just aren't?

[@Peacefulwarrior975]

Taxing the rich needs to be implemented nation wide, while tax cuts for the middle class also needs to be implemented nation wide. The answer is simple and obvious

[@slicktheslickster]

If that was done, the politicians who voted for this measure would be out of a job. Guess who votes? It's not the middle class.

[@oldcat87]

Won’t happen. They will tax middle class more without touching the rich. The only thing middle class can do is to move to Florida and Texas where there are no state taxes

[@Peacefulwarrior975]

@@slicktheslickster everyone I know votes… regardless of their class

[@timallison8560]

we have a deficit that is on the verge of sinking our country, we cannot have any tax cuts, the only way out is to tax the wealthy and cut government spending.

[@mapples007]

Show me a congress that has ever been less than 90% millionaires. They're not going to vote against their own interest. That's for republican voters.

[@freighttrain1695]

How does a nation of billionaires not contribute to the tax burden shared by everyday Americans?

[@chrisbarbera4121]

Cuz they don't make income.

[@djp1234]

The most important thing is to get rid of all the tax loopholes for the rich and corporations. We need to vote more people like Bernie Sanders and AOC into the government. People who actually work for the middle class instead of the billionaires.

[@puddinjr1121]

The rich will always be one step ahead and figure way to move the money to not get taxed. I don’t blame them either, if I were in their shoes I’d do the same exact thing. Even if a rich person couldn’t move the money you can only tax them but so much before all his wealth is gone. Then who will you tax? Ah yes, right back to the people who are already footing the bill. The middle class. You don’t need an economics class to figure that out. Yeah socialism is all fine and good until you run out of everyone’s money. Then what????

[@blueman1470]

You are not making sense. They are hiding the money for the tax breaks, so lower the tax rate and get some money back. Bernie Sanders makes great talking points, but I will not work at any practical level. The politician thing is beyond corrupt.

[@Corkfish1]

Lol!!!!! Yeah that would be the end.

[@8StringKeith]

🤮

[@djp1234]

@@Corkfish1 that would be the end of corruption and screwing over the middle class

[@chrisgoetsch1964]

Bottom line, they pay the taxes or someone else will start up a company doing the same thing here and we stop buying that product that screws our tax system .

[@oldcat87]

The huge state taxes in New York and California are driving people to move in flock to Florida and Texas.

[@donaldbingham8990]

I wonder if the CEO who said the WA income tax would cost his company $50,000 and that would stifle his business knows how absolutely stupid that claim is. $50,000 is what he pays just one, repeat just one, professional employee.

[@letstalkaboutit7734]

He’d have to lay that person off to pay the tax bill

[@littlecloud2197]

I hope the law passes it’s about time everyone pitches in for their part

[@ryanstubbs3211]

This originally aired in 2010

[@dembeesandgaa8008]

It all comes down to the inability to change or new way of thinking. No one dares to challenge the system. A lot of these politicians have self interest and short term vision We need not only a powerful leadership but also group of people who needs to support the change

[@valentinanino8292]

we need an entire united states system reset so that this corruption can be dealt with and laws need to be made after to ensure this hateful crap does not happen again

[@justbenice72]

Corruption is the order of the day meanwhile we the people suffer.

[@diannadima7082]

It is all greed with these people. $5000 a year is a drop in the bucket for the ultra rich millionairs. Oh so big corporation shouldn't pay into our school systems? This is wrong.

[@poohbeartube]

Yes and it's so ridiculous. You're probably aware that even people who choose not to have children pay school taxes and $5000 a year for one house is common. If the 1% who make the laws wanted the corporate tax rate changed, it would be changed. Since they're not paying massive amounts of taxes, they don't bother with it so they can pretend it's an issue in the media. It's smoke and mirrors.

[@american_woman]

Hi Lee and Paul! Just wanted to share that these crimes actually have become pretty common since the lockdowns three years ago. I've kept up with current events voraciously since March 2020. The "Why Me" question has an answer: This is the new norm until things change and we need to get more people, especially naive people to understand that. I live in a suburb of DC; I have been in DC and/or DC adjacent for 12 years and no longer go out at night. My neighborhood has severely deteriorated. It is not unusual for carjackings; gas siphoning; catalytic converter theft; and random gun assaults to occur. I wish there was a way for me to convey to both of you and your friends to understand that it has never been this bad in my lifetime (age 49). I was definitely worried about you and Paul in St. Louis. Used to love that place... just please get your friends to understand the world has changed and to look into current events for cities they are "nomading" in.

[@NYyankeeboi]

Its not just DC that crime is out of control, its happening all across the country. With more and more law enforcement budgets being cut, you will be on your own, buy and gun and learn how to protect yourself and your family.

[@jrkc9218]

I’m sure I would LOVE to pay the Swiss tax rate too. If only I had the money to “live and work” in Switzerland and enjoy the benefits of the US. These small countries are just poaching American money because they don’t have scale. Disgusting. Lol and that Cisco exec could use some of those profits to cover that combover.

[@XR650L_GUY]

Can't tax us poor workers.we already have nothing

[@diannadima7082]

This is a mega amount of corruption. My God I cannot beleive this. Thank you 60 minutes.

[@BrittonWhite_]

There are 60,000 homeless in Los Angeles right this minute! how is 1,200 tiny homes going to help these people ?

[@jojogurl83021]

YES!! LEAVE THE POOR ALONE!

[@ClassWarVeteran]

Rich Man’s World kzbin.info/www/bejne/r5KldmCFppmsaKM

[@ClassWarVeteran]

There’s literally an entire prison industrial complex and militarized police forces specifically made for the poor.

[@DanScottOTH]

The 2017 tax bill eliminated essentially the 2nd story. Through BEAT and GILTI, the profit shifting to lower tax countries is gone. Also cash is no longer parked overseas primarily for US tax reasons

[@ClassWarVeteran]

Rich Man’s World kzbin.info/www/bejne/r5KldmCFppmsaKM

[@contrarysheri]

All tax cuts to the rich cut? 1.3 trillion dollars to the deficit? 100 billion a month? Make the rich pay! They make me sick weasling out. Make them pay!

[@nativetexan53]

Start taxing the Execs!

[@daveretash9153]

This explains a great deal.

[@orawancarlile6192]

The problem in this country is everyone wants everything and pays nothing. When these people are old then they realized that it is always a balance of all things to rob from one and pay a hefty price for another. But the riches still need America to sell their products since no other in this world has major purchase power like Americans. We as Americans should boycott their products.

[@JerryDLTN]

33:06 Just make it a requirement that politicians, once elected, have to liquidate their portfolios and buy only $QQQ, $SPY, and/or $DIA and they have to leave it there until they're out of office

[@chrisgoetsch1964]

Or the US heavily taxes ANYTHING made in another country by a company that is stationed in the United States

[@DSandy111]

Corporate taxes need to be equal between countries. We need to find another way to tax them for services and perhaps initiate a federal sales tax

[@rewardilicious]

We just need to get rid of all these complicated tax codes. The best way to tax any money that gets sent or received via any financial institutions that are recorded as like 10% each way. So I pay you $100, I get taxed $10 and you get taxed $10. Easy, done. Do it for wire transfers, deposits into stock brokerage accounts, credit cards, any recorded cash purchases or sales, and crypto exchanges. Companies and rich people will naturally have more transfers so more taxes.

[@donaldstewart9873]

I got a job, That I really LOVE, I am making more than I've ever made before. But now,... I payed for my income in taxes with almost 23% of everything I made claiming 0 and at the end of the year, I owed more, so They took it. I clamed myself at the end of the year and I STILL OWE? How fair is that?

[@ronm9968]

These companies will spend more to fight against their taxes a year, then what they would have to pay in taxes every year. Come on Americans.

[@randibgood]

Exactly. The price to purchase legislation is high, but it keeps their taxes low.

[@gregturner8044]

I'm so sick and tired of people whining about paying taxes. TAXES ARE HOW WE PAY FOR THE THINGS WE WANT AND INVEST IN OUR FUTURE!

[@robertvarga9843]

Very good report,I love you guys

[@ghill88]

How old is this video? Bush tax cuts? What about Trump tax cuts. Companies that move overseas. Limit the business they can do in the USA.

[@SharkCatBroadcastingCompany]

My parents love 60 minutes news magazine

[@lindamuse7028]

How can any Nation exist without paying its bills? I favor having a flat tax. Everyone paying a fair percentage of their income. Our infrastructure, to include roads, bridges and water works systems, is falling apart. The word 'Taxes' is not a cuss word. They are essential for maintaining a healthy lifestyle.

[@Legoman69469]

Normally as a conservative, I’d be opposed to t this, but when I heard it would be for education, I realize we need it…

[@ninjagirl226]

Hmmm…I think there’s policy changes within the education system that would drastically improve it and not cost much. Like removing the no fail policy at schools like my sister’s. She’s had only one kid come in the past month because the kids know they will pass the course even if they never show up or turn in a single assignment.

[@jeremytoney9367]

Personally, I think of the US government is really that concerned they should just cut spending as opposed to cutting taxes. If you are looking at getting rid of tax cuts and everything, perhaps US government people should stop spending so much on these programs which lots of people, including myself, don’t get to take advantage of. Only the people who are wealthy good to take advantage of the loopholes in the tax law and for me since I’m not rich, I don’t get to take advantage of those loopholes because I don’t know what they are and I don’t know how are use them. Very simple message stop spending so much money on borrowing more to continue to spend. Then maybe we can get our deficit under control but it’s gonna take 50 years or 60 years to get this deficit down under $100 million which means that the people of today like me well long since be gone. Our great grandchildren might benefit yes, spending cuts were made, but I never hear that from these people!

[@JohnTLyon]

How do you fund government without taxes? The rich want to have there cake and eat it too

[@jorgemarin7303]

Rich people always threatening that it’s going to hurt their business and they pay more taxes but yet when they get a check for $14b year they’re not complaining

[@asssm89]

She is an amazing journalist.

[@garymiller4141]

The taxpayers know we have the best politicians that money can buy and they sure as he'll don't surve WE THE PEOPLE

[@thedude8009]

Join Congress not because you want to help people but because you want to benefit yourself

[@sherylhay13]

What a shame that wealthy people dont want to help.

[@incogniro1]

Can't complain about single digit income tax. It's mandatory here in Europe and in double digits.

[@Krugzug]

Someone should send a book explaining how a fiat currency works through MMT Economics.

[@determinedlyunmotivated4300]

How do you tax-cut your way out of a deficit?

[@DaleLClay]

Interesting, how is it, that one area needs 35% of of your income to maintain its society, and other equally advanced countries only need 15%? I live in Washington, Zero Income Tax, but not mentioned is the high Sales Tax. Washington, in 2022, has a $15 Billion dollar tax surplus, and are still maneuvering ways to increase the Tax they are collecting.

[@bds3919]

It's odd isn't it. Countries with nationalized health care and free college education pay so much less than we do. America is for the rich.

[@B_Bodziak]

@@bds3919 The majority of the US budget goes towards military defense.

[@chrisgoetsch1964]

Yea that low tax rate would work just as well as the stupidA$$ trickle down deal and look how bad that turned out

[@danielbassett1076]

The tax haven situation is a race to the bottom. The solution that I see would be for all countries to get together and charge the same tax rate. We couldn't even get together on a pandemic, so I have no hope.

[@LynxStarAuto]

That's not possible because not all economic systems are created equal.

[@diannadima7082]

Yes and so has the States elected officials are doing it too. I voted for my canidates of choice of my party. The very next day they won they were asking for money. I am living on SSI which is below poverty. I told them, they are millionaires support yourself. Fix my entitlement so I can live like everyone else in this world.

[@hinesfigher6093]

Love the purple look Leslie! 25:55

[@ronald1111]

Then they'll stop. Less of what need. Why not quit spending?

[@Justkissthis]

I live in Texas and we have surplus in our state with no state income tax…i would never live in a state that i have to pay state income tax it’s ridiculous

[@arcade15x]

400k is not "rich". These measures always fail because they draw the line incorrectly. Tax income and capital gains over $1B at 90%, there you go.

[@aurtisanminer2827]

9:20. Getting your car washed by a mobile business is exorbitant spending for a government?? This is a man with very few examples on the subject.

[@Acode7940]

Thanks for looking for me. I just can't bear any more. Because of tax evasion, tax shelters, predatory businesses AND policies, in rhe past 50 years this country has come to stink to high heaven with high-falutin justification s for INORDINATE greed and selfishness. It is already on its way down the sewer (sorry working poor) to its rightful end as waste. Such a high degree of moral imbalance and indecency cannot possibly sustain a healthy social organism like a state or country.

[@emmanuel1163]

When you see politicians and conservatives talk about lost revenue from business leaving or how the rich need motivation to keep innovating just let it sink in the city of Rotterdam in the Netherlands almost considered taking apart historic bridge just so Bezos could move his $500M superyacht through. "Rotterdam now won't dismantle the Koningshaven Bridge for Jeff Bezos's boat. After backlash, the ship's builder Oceano decided to not move forward with a request to alter the bridge to sail the yacht" Only after the "peasants" revolted did they change their mind. As if we need any more reminders the old world nobility haven't gone anywhere in this world of "Meritocracy".

[@JohnBosco.1308]

Years later, it still hasn't changed. In fact, Nancy Pelosi said they shouldn't have to change the rules.

[@trinafirey8747]

We’re still having trouble getting the richest people to pay their fair share of taxes. How many billions does one person need? GREED IS UGLY.

[@lanceaugust]

When the government raises taxes they spend more money than they raise. So, yes, cutting taxes is futile and foolish when our debt is this high. But more tax revenue emboldens legislators to spend more than they bring in. Politicians buy votes by promising handouts.

[@douglasbuchanan2973]

NEVER REWARD SIN!!!!!!!!!!!!!!! AND LIVE AND TEACH ONLY TRUTH!!!!!!!!!!!! ALLTRUTH

[@JerryDLTN]

13:54 $60B of money to be possibly taxed versus a $1T deficit. It just proves the gov't has a spending problem.

[@alexsteven.m6414]

Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.

[@yolanderiche7476]

We have learnt in investing journey that you can't control the market but you have the power to control your actions in the market.

[@taicronck9559]

shame on this people, shame, shame

[@garnetrose6162]

The social security/Medicare tax needs the cap removed

[@johnruiz7852]

Why doesn't the police arrest them and put them jail

[@JW-lr8sd]

37:14 Pelosi's rage face xD

[@MRSketch09]

I'm glad you guys uploaded this, but at the same time, your posting info that's 10 years old?! Talk about being a "Day late & a dollar short"..

[@diannadima7082]

Good for him. That is a healthy attitude. And an honest one.!!!~!

[@1440PGamingContent]

The entire thing is a scam. Putting your hard earned money into someone else's pocket. But OFC some people didn't work hard for it. They just scam.

[@AYBaR-Luis]

waoo i learned so much front this video we need to fight again inside congress trading

[@HiepNguyen-xs2pr]

the more we the people pay taxes, the more the govt will spend; the govt has to manage the money its got and doesn't overspend that is balancing the checkbook, we the people is not the problem, the problem is the govt.

[@Chiparoo-014]

When things for sure they won't come to Connecticut they'll be broke to taxes here are ridiculous

[@JerryDLTN]

11:30 refinancing (growing)assets, dividend income, and loans from permanent variable life insurance plans (used as income) isn't taxed as earned income.

[@IL_Bgentyl]

Why is it never cut government funding? Downsize? Consolidate?

[@zackf3688]

Any company that inverts in this way should be excluded from American markets.

[@stephenkutney9626]

Stop the spending. Layoff half of the Federal workers. Return Education to the States.

[@richlemmon8296]

The government always approves them getting the pay raise. What about Social Security the military the US citizen these greedy rich companies going overseas it shows where your loyalty is. I believe our tax rate is too high drop it down across-the-board to 20% and give credit such as childcare, etc..

[@crowdancer5]

NONE of those millionaires need to live on those taxes!!!! too many of the little guys can afford to support the schools at higher rates they already do. Especially in Washington where property tax and sales tax must pay. Ridiculous to hear them whining!!!!!

[@oliverstianhugaas7493]

What is the point of being rich unless you can spend more money on a weekend then other people make in a lifetime?

[@kurtjunius3782]

The American Flag Act , would be just like prop 1098,except this about whether you’re really an American citizen or not, and pay your taxes properly

[@stephenkutney9626]

In New York State union employees get to deduct dues Retired state employees do not pay taxes on retirement income.

[@ryanstubbs3211]

This originally aired in 2010, approaching 13 years ago.

[@glenwilson9533]

Good ☔🌧️ Rain Ent LLC.

[@michaelwoods4495]

Half the people pay no federal income tax at all. Most of the budget is transfer payments, taking money from some people to buy votes from others. That's how our government works, if you think it's working at all. My own idea is that government exists chiefly to maintain order through defense and police. Secondarily it does some things that are better done collectively like schools. If my neighbors here in Kernersville are in need, I take care of them myself, using my own money voluntarily. I do not need politicians.

[@rossr6616]

These companies need to be cut off from revenue from U.S. territory

[@anderslarsen4912]

If lowest corporate tax is the only competitive advantage as a country, I'd advice the governmanet of that country to diversify since low tax rates are easily copied. Low corporate taxes in Ireland is controversial here in Europe because other EU countries are projecting an emulation of this strategy. It's a race to the bottom which isn't favorable for citizens in times of war, insecurity and a renewal of cold war tactics.