Wolff Responds: Biden's Infrastructure Plan: A Critique

[@RichardDWolff]

Please be aware that an imposter account is pretending to be Prof Wolff while posting solicitations in his video comments. These are NOT from Professor Wolff. We are doing our best to report the comments and the fake, imposter KZbin account to ensure it's speedy removal and a stop to these solicitations. You can help us by reporting these fake comments as well. Thank you, and please continue to enjoy Prof Wolff's videos, and your discussions of them.

[@wilfredtankhoonpheow2605]

American public are happy to hear China bashings from the politicians, they are not concern about the poor and the homeless

[@taniablas5466]

Sus

[@RYN988]

its*

[@guapodesperado2822]

Stated flawlessly. Thanks, Dr. Wolff.

[@peterstafford4426]

Its total BS.

[@Mortum_Rex]

@@peterstafford4426 Go to your room Peter!

[@anthonytwohill9726]

That's why Congress said that lobbyists were essential workers: They write most of the laws.

[@lexneuron]

😂😂😂😂😂👉💥lobbyists were essential workers❓ But do they really live on weekly wages to weekly wages, and cannot afford facial masks?

[@kirstinstrand6292]

We are BROKEN.

[@anthonytwohill9726]

@@kirstinstrand6292 true. Best to blow it all up and start fresh. I don't think there's any way to fix it. Some things broke just can't be fixed.

[@nealtauss1715]

@@anthonytwohill9726 .... I don't think there's any way to blow all it up.... much less start fresh if you do.... BUT.... we keep plugging away at the Right thing....decentralizing Political Power and DYSeconomic Wealth.... as per CURRENTLY Wind/Solarw/BatteryBacking.... are creating MORE employment AND payroll taxes.... than gas/coal/oil/nuclear&hydro.... COMBINED.... if the Chinese can do it.... Can't 'We'..? Not to Mention.... 'we' have something THEY don't.... Political Activism.... Ralph Nader has a NUMBER of schemes for FORCING.... our Democracy to Work.... starting with playing a LITTLE Less (dreamteamVidsports) and working a LITTLE....more.... at DECENTRALIZING politics and money IF.... only 'we' will....

[@nealtauss1715]

@anthonytwohill.... including THAT one....

[@stephaniecarrow4898]

Thank you, once again, Prof Wolff, for your honesty, clarity and integrity.

[@johncloo9093]

Our government is rotten to the core.

[@patriciafarrow9586]

Empires come and go - they die slowly - and seldom get a "revival" as far as I read in history. The British Empire, Mongol Empire, Roman Empire, Greek Empire, etc.. Historians may see this COVID year as an inflection a point in time for our decline. Who knows? There are many in England who still believe that they are a "great power" after 100 years of decline and I feel the USA has begun that slide. I think it started in 1971 with the age of Crony Capitalism. NOTE: This is my opinion. I hope I am completely wrong for my grand-children's sake.

[@ernststravoblofeld]

@@keepingittight How can you look at the state of the world, and think the answer is more leaders. Haven't leaders done enough damage?

[@erikje7352]

@@patriciafarrow9586 wel for the sake of 95% of your people i just hope you won,t go down like the germans in 1945 etc etc but perhaps a french like revolution is what you need minus a couple of 100 billionaires and a couple of 1000 politicians/lobbiest will do the usa a world of good

[@keithstewart7514]

And the dysfunction is far from expiring

[@ernststravoblofeld]

@Russ Olson No such thing. If leaders could solve literally any problem, they would have done it by now.

[@kenunderwood8621]

Dear Professor Wolff, Thank you so much for your informed and passionate commentry on this subject. Respect to your age and the vigour you show!

[@guytruth5598]

Mr Richard Wolff you have taught me alot Of things in life from your reporting and speeches etc. Thank you very much.👍👍👍

[@ozsharpener]

The infrastructure repair plan is essentially infeasible under today's US financial hierarchy.

[@LONEWOLF..314-S-T-L]

GREAT TALKING POINTS MR WOLFF 👍🏿❤️💯☀️🎓📖

[@mudpiemudpie785]

One bridge often costs over a billion and there are thousands of them that need repair. And that's only bridges. Infrastructure includes many other areas. It's a very little crumb.

[@anthonytwohill9726]

Agreed. We might be better served letting most infrastructure continue to rot and just starting over from scratch using better practices and materials.

[@kirstinstrand6292]

@@anthonytwohill9726 this will be the only way that the public will understand that we have a crumbling infrastructure. To say nothing of our ancient, frail electrical GRID.

[@anthonytwohill9726]

@@kirstinstrand6292 yeah. Shame that. Maybe when more bridges cave when folks are driving on them...

[@mudpiemudpie785]

@@anthonytwohill9726 You do realize that the bridges are already collapsing with people on and under them now, right? And this little crumb will only fix a few of them. No one is saying do nothing. The point it, this is nothing to crow about or pat ones self on the back for.

[@anthonytwohill9726]

@@mudpiemudpie785 I stand by what I've said here.

[@The_General_Zubas]

7:40 They can't. Or else everyone in Congress would be out of a Job, and in Jail. And they don't. Want. That.

[@c.staton2200]

What I lack is the ability to wanna work at any company after listening to Wolff, Hedges, Chomsky, etc. I struggle with how others can hear the same things as I from these people and still wanna give it you're all. I don't make it long on any job because I am militant about my employee-employer relationship. That relationship is diametrally opposed to one another. And I never forget it for a moment. I am only working 8 hours a day, I am not trying to be apart of any pizza parties or after-work events. Why do that after being exploited all day? I am not looking to assume other responsibilities, none of it. Why if exploitation is the name of the game? It is the reason I moved out of Miami and back to Virginia. I just wanna work as little as possible as far as being an employee goes and live my days out. I just wonder why it seems I am the only one these lectures have this effect on?

[@susanmirarchi7303]

This is the first video of Wolff I've seen in a long time, mostly because I think things will never change and it depresses me! It's the same all over except in Scandinavia. When you have a lot of poor people voting Republican because of religious and racial bias you can't win?!!!!!

[@theluckycharms81592]

Your not alone, thinking like this in Texas is a nightmare. I feel as if maybe I did die with that accident I had as a kid, and this is my Hell. Honestly I just hope to change those closest to me to have a similar mindset. I've found that leading by example is the best way of persuasion. I can't change the whole world, but I can change my world, and that's the best I have to offer.

[@reubenmorris487]

You're not alone. More people will wake up in the future. If you have to work more than 8 hrs a day 5 days a week then it's typically a sign of bad management.

[@fcdraw]

Start an intentional community. You have resource sharing and you build a sense of belonging and togetherness with the other members. Most would call that communism on a smaller scale though.

[@c.staton2200]

@Lynette Hicks Let's do it!

[@franciscofrancesco7844]

It’s a very accurate and realistic description of the lack of maintenance of the infrastructure where I live.Thank you, Professor Wolff.

[@tylerheinrichs2806]

I was never involved in politics before 2016. I thought they were boring, I was too young and naive to perceive how politics could shape the future of my life. But I felt compelled to vote against Trump in 2016. However, I admit I largely ignored him after he was elected. Then 2020 happened, and suddenly, politics became my whole life. I basically gave myself a political science 101 course over a few months of watching videos, reading articles and various documents. When I had gained basic political literacy and had started to pay attention to what Trump was saying, I thought "holy shit, there's a fascist in the White House and literal neo-Nazi rhetoric airing regularly on Fox. This is too close to Weimar Republic for comfort." I saw the comment sections under posts about George Floyd. I saw the very real and present threat of white nationalism on the rise. I truly perceived systemic racism for the first time. I'm afraid for the future of this country. The point of my story is I wish more people, especially those on the right, would do as I did and gain basic political literacy. Those people storming the Capitol of their own country and waving confederate flags thought what they were doing was patriotic. They have no idea how their government works, what the Constitution says, or what words like "liberal, socialist, and communist" actually mean. If they did understand these things, they'd realize how dangerously stupid they're behaving. They would realize that worship of national symbols is not patriotism, and it's certainly not waving the flag of failed secessionists who fought to defend slavery. They would learn that their understanding of our nation's history is more mythology than fact. Perhaps they would even learn that capitalism threatens to doom us all. I can dream can't I?

[@eddiekulp1241]

Your the fascist you see in others what you are. Trump was right

[@tylerheinrichs2806]

@@eddiekulp1241 Fascist isn't a pejorative to label people with whom you disagree. Words mean things.

[@RareSeldas]

Thank you for your work, Prof. Wolff.

[@gavanhillebold3131]

United We Stand ....Divided We Fall ..... 🇺🇸 Beware Of The Wolves In Sheeps Clothing in Washington D.C.

[@erikje7352]

meaning ????

[@tankie9997]

Would you agree that the main political parties, republican and democrat, are now essentially corporations? I would argue they don't rely on votes, and especially since citizens united they are reliant on and answerable to their donors rather than their voters. That includes foreign interests incidentally, such as China, Russia, Israel, Saudi Arabia, Turkey and others.

[@nthperson]

Agree. We need to do away with elections and select our legislators by lottery. Wiling to serve? Take and pass a civics examination to demonstrate competency. Then, your name goes into the lottery. If selected, you serve one 4-year term, after which you return to your private life. No campaigns. No fund-raising. No gerrymandering. Actual participatory democracy.

[@tankie9997]

@@nthperson For me personally I believe we can work in the current system, it is possible to reform it. The key is to form a political party where the only route to power is through trade unions. Instead of just being rich, going to college, then becoming a politician someone will join a workers union, then be voted as trade union leader. Those leaders then become representatives in various fields relevant to their industry. Even if the rich kids end up as President at least they've experienced a minimal level of actual work and trade unionism.

[@nthperson]

@@tankie9997 This will depend on more progressive (and many more women, I think) getting elected as Democrats to strengthen the laws guaranteeing the ability of workers to organize and engage in collective bargaining. As I am sure you know, Professor Wolff believes the best path is to create more worker-owned cooperatives.

[@tankie9997]

@@nthperson Agreed, except the idpol shit, women aren't necessarily more progressive and token representation just allows more corporate corruption. Look at Hilary, or Kamala. We need to stop falling for this stuff and look at policies and track record

[@nthperson]

@@tankie9997 whether male or female, agreed, look at their policies and track record.

[@myfoodishere]

just a guy from brooklyn living in shandong china. i've been in china since 2012 and shandong since 2013. i see things being built here. schools, airports, high speed rail stations, electric car infrastructure, high rise buildings, new ports, new roads. whats happening in nyc? in the US? nothing. all those politicians do is argue and pocket money.

[@PrattlingPate_]

Don’t forget to mention our need for the #1 spot for military. $700+ Billion each YEAR. imagine cutting that in half for infrastructure each year. THAT is how China builds so fast and so often.

[@myfoodishere]

@@PrattlingPate_ i live in rizhao. i sometimes post pics on instagram of the before and after pics comparing my first year to today. unrecognizable. in my native brooklyn people are still living in housing built in the 1930s lol.

[@Skylarking00]

I agree with Wolff but as a society we’re just not ready for the massive change he advocates. FDR, imperfect as he sometimes was, was the rare exception. JFK, RFK, MLK...look what happened to them. The status quo is incredibly powerful in all ways and will fight tooth and nail to maintain power.

[@The_General_Zubas]

I have been thinking about this Bill, A lot. I wish to see it pass, and I welcome these thoughts.

[@banparlous2552]

I’ve only just heard about Biden’s Infrastructure bill... it starting to sound like Trump’s Infrastructure bill that never went anywhere.

[@ivanshim8750]

The problem is that infrastructure improvementscare not a shovel-ready jobs. It's going to take years of planning, analyzing, designing, permitting, funding before lower levels of labor start participating. There's no choice but to fund the projects through large organizations where highly skilled people are employed. Maybe it is trickle down, but that's the way the system works.

[@earlgibbs7083]

Fixing infrastructure does improve the efficiency of the broken system but the greatest benefits always go to corporate America. The problem is much of the US industrial manufacturing has been shipped overseas so modernizing the framework of America will not bring back the long-term industrial jobs that were quietly relocated elsewhere. Therefore, this new massive construction project will temporarily bring back some employment but as you state, the greatest share of this brief monetary injection serves the elite.

[@victorsempiana7590]

well stated Earl, yet even if this infrastructure does become a reality, I agree it will put people to work, although massive traffic will become a hindrance,, construction will be selective,, and big elite construction companies will suck most of the money than charge states over costs,, than suddenly no more money, when thousands of miles of roads will still stay the same along with bridges , sewer, secondary and even third roads will stay the same,, one big cash cow for big construction companies,, example Big Dig in Boston,, omg known as "Big Heist",, "Plain & simple,, America will be 3rd world country in 10 years capitalism will totally leave, actually they as starting already Asian is where the money will be for the next 80 year,, China has in the last 25 years build their infrastructure so up to date you will be able to travel from China to Portugal & all over in hours by high speed train, to Russia, & Middle East in hours,, America just did nothing for the last 50 years than now we are going to this , OMG revolution 3rd party we the people

[@nthperson]

Key to bringing back real investment in capital goods is real tax reform. This must mean the elimination of taxing incomes earned producing goods and providing services, and dramatically increasing the taxation of income derived (not earned) from passive investment, speculation and rent-seeking. Recommended reading: economist Michael Hudson on these issues.

[@ricbrunner3880]

Mr Wolff. The vast majority of people in this country don’t understand what’s going on. I’ve known this for a while now a long while now. At every opportunity I get I try to educate people most aren’t interested. What I want to know is how are we going to shut down the capitalist cash cow. That’s the question.

[@DramaQueenMalena]

There has been only few methods in history to successfully overthrow a system: massive acts of civil disobedience over long time or violence. Then there will be a time of chaos until the new order gains foot. Or you wait until it collapses. But you need a time of destruction and despair to realize and accept what you were part of. Or it needs a generation to pass.

[@The_General_Zubas]

2:10 Makes sense. Given the 14 Trillion they poured into it last March. 14 - 9 = 5. They only needed 5 Trillion. The rest was Profit.

[@The_General_Zubas]

3:10 Money doesn't grow on Tree's. It grows from the Middle Class. The one we sold to China for cheap goods.

[@The_General_Zubas]

@soul reaver Shoulda allowed just the Scientist's, not the people who ended up Creating the CIA, turning it into a "we will slowly make the world Facsist" Secret Agenda. Jerks.

[@kirstinstrand6292]

No, America was sold via lobbyists to Corporations. Then the laws we changed so that Corporations could vote as private citizens, just like us. We have no voice in USA. And the Government has become our Parents. Authoritative Parents always make their children conform, don't they?

[@The_General_Zubas]

@@kirstinstrand6292 I agree, America was Corporatized in 1871. Social Security? No, that's our Stock Number's. We are not people. We are Shares, to be exploited for their monetary game. America has been Bastardized, the wealthy few control us all, and that's exactly all they will ever care about. Control. So they can tell us to work for them, so they don't have to work. At the end of the day? Slavery never ended. They just modified it.

[@The_General_Zubas]

@soul reaver CEOs need to divide us all, or else they can't conquer anyone for profit. Also, you don't need to be a Boue eyed Blonde Haired Aryan to be a warmonger.

[@The_General_Zubas]

@soul reaver The laws where changed by the 1%, for the 1%, So nothing ever changes, and they stay in Power permanently, to the detriment of everyone but themselves. They are the personification of Selfishness

[@giovannimartinez983]

Thank you very much

[@williamblack4097]

Thank you once again for the excellent analysis of what the problem is and who is responsible. The best we seem to do is replace one group of capitalist ideologues with well, another group of capitalist ideologues. The problem is the ideology itself.

[@The_General_Zubas]

7:25 Maybe. If we are Lucky. More likely to get trickled on. Lol

[@bronsonalex48]

What I like about Prof Wolff lectures is even a noob like me with no economic, politic, geopolitic background and not an English native speaker, can still understand and grasp the concept of his explanation.

[@sherriinolywa]

Excellent insight...as always.

[@Kig_Ama]

So true, same issues here in Germany.

[@berg8970]

The infrastructure in Germany and just about everything else is 100% better than the U.S.

[@Kig_Ama]

@@berg8970 not 💯, my point was regarding how the system and corrupt politicians behave, watch the whole video. Similarities everywhere.

[@pyrat3538]

@@Kig_Ama believe me, our germany isnt perfect but at least our system is not so morally rotten as the US´s

[@Kig_Ama]

@@pyrat3538 I guess you haven't noticed all the corruption cases lately involving all the CDU politicians.

[@lisalasers]

excellent.

[@Pghgypsy1]

Many excellent points made, but we are still left with the problem of the crumbling infrastructure. Professor Wolff, how then do you propose that the infrastructure issues be fixed?

[@milkman9011]

If only people held governments responsible, and governments became accountable, efficient and less wastefully there would not be any need for greedy corporations. It's a big ask to be forever vigilant for any people.

[@Nickwritespoetry]

The way to do this is through building a leftist third party. If it gets big enough, we can start to threaten the status quo and keep other powers in check.

[@milkman9011]

@@Nickwritespoetry protests are the key.

[@casperhowell6523]

Great work! Can't wait for more!

[@egodust11]

On point, as usual.

[@DanA-nl5uo]

Remember the federal reserve created 20 trillion dollars in 2020 to get the stock market to go up 9 trillion dollars in value after the crash. So the federal reserve created more than 2 dollars for every dollar of increase in the stock market when they become the buyer of last resort.

[@Andre-qg2ie]

I'm pretty sure the top 1/% pays 650B in fed taxes every year, and the bottom 50% pay about 60 B.

[@justinsanchez6626]

Would a worker cooperative-based economy have an equivalent to a corporate tax, like a cooperative enterprise tax?

[@ParcelOfRogue]

The UK had a large Direct Labour force to build public housing and buildings and council houses until Thatcher's right neoliberal government disbanded it in 1979. Before that, post war, it was found that the private sector would never employ enough people or build enough houses or build houses enough people could afford to live in. Instead they banked land and planning permissions, they profited from scarcity of housing and new builds and they targeted the top 1/3-1/2 of incomes and ignored most of the rest. UK Labour (social democratic) governments and moderate conservative governments managed to build vast numbers of ordinary houses & flats in the 50's to late 70's to replace those lost during the war and accommodate a growing population. The UK is back to permanent housing shortages and a market where the prices rise in real terms nearly forever, but 1-2 times in most decades they drop back by a chunk. Then 18 month to 2 years later they are increasing again. But they almost never fall in London due to outside capital coming in constantly. Prices are also increased by the Tory government's measure to stimulate demand using the illusion of supporting buying, but which only push up prices. The av house in all UK 250,000 ( $320,000 ) or much higher in London

[@ernststravoblofeld]

Something I've noticed lately. People used to complain about the condition of the roads more. The roads are getting worse, but people are complaining less. We are coming to expect worse infrastructure.

[@The_General_Zubas]

3:50 That provision in the CARES Act that gives Millionaires a Million dollars? We know who gets all the help. The people who step on everyone else for a Living.

[@wellgeo223]

AmWorks IRL

[@bradleyhenderson1198]

Been saying this for decades. As long as we the people will put up with being abused, however, there isn't much incentive to not abuse us.

[@ianboard3555]

If the infrastructure money is spent through contracts for specific deliverables, then any bonuses to executives, dividends to shareholders or stock buybacks have to come from normal profits made in the course of business. For example, a particular bridge needs fixing, the contractor submits quotes, and enters into a contract - fix the bridge, for this price. Hopefully there is competitive bidding. If the goal is to fix the infrastructure, why should anyone care what a contractor does with the profits, if they perform on the contract and deliver what they are supposed to? I am trying to understand what the issue is here. Is it that we propose to give money to corporations without contracts for specific deliverables? Or that there are such contracts and deliverables, but are trying to tell the companies what they can do with the money they make?

[@irabraus9478]

"Infrastructure" means "military-industrial complex" to the Democratic-Republican party.

[@AnArchaicSoul]

Richard, are you moving from your current home? I'll miss how warm and inviting it was.

[@patriciafarrow9586]

Good one! RDW points to the fundamental root cause of our ills. We need a 3rd party!

[@The_General_Zubas]

2:40 The Upwards transfer of Wealth that happens every Decade or so when a Recession hits. Almost like every one is part of the Plan. Let them Gain Wealth for 10, 15, 20 years. Then when everyone's about to retire? Pull the rug out from under them. Then Retire.

[@The_General_Zubas]

The 1% doesn't "make" money. They take it from the lower classes through Shady Means, and claim it as profit.

[@essentialjudge2279]

Thought a little Lee Camp was going to come out there around 4:20.

[@essentialjudge2279]

@RichardDWolff so with all due respect mr. Wolf I hope I didn't offend you in any way at all. I Apologize for my hillbilly education here in the Ozarks. I enjoy listening to you and I also enjoy listening to Lee camp and Peter Joseph. when you broke character around the 4 minute and 16 second Mark I kind of chuckled and thought you was going to start yelling like Lee Camp. So once again I apologize for my education but what is B..t..c? And are you asking me to text to a number that message? I am curious

[@pepelemoko01]

It is only a matter of time before, there is a catastrophe like the Genoa bridge collapse in Italy, which is a prime example of neglecting infrastructure.

[@frisandlin8876]

ayo what happened to all your books

[@weiskl887]

LOL i knew there had to be a catch to this sudden realization of Public Goods need to be fixed story.

[@62ejo]

Hear,Hear,Hear......Yes,Yes,Yes......Professor are moving I see a empty bookcases in the background and a hand truck..?? Hoping that everything is okay with you and your family......

[@TomRivieremusic]

“Stagnating economies can, indeed, be very good for the rich, who feast off the carnage.”

[@ianboard3555]

Most of the $3T will be wasted on political payoffs and boondoggles.

[@iFreeThink]

"I was taxed thousands more. Not a single Advil paid."

[@nthperson]

The reason why the U.S. infrastructure is in such bad shape is caused by the privatization of rents that rightfully belong to communities because rents arise because of locational advantage, whether such advantage is attached to nature (e.g., climate, nearness to navigable waters, topography, etc.) or societal investment in public goods and services. Instead, government raises most of its revenue by taxing productive activities, tangible assets we produce, or by borrowing from those who have disposable incomes to invest.

[@kirstinstrand6292]

Why is it that Wolff is the single voice for the US Citizens?

[@lorrainewest7408]

Sen Sanders tried to get the message straight. Chris Hedges, Yanis varoufakis, Hudson, Blunt all Economists. This Wolff another Economics Professor stretches out all the specifics. Plain & Clear. Forewarned. Disfavouring the many. A system leading to chaos & more economic despair. There is an old saying when "people have the wool pulled over their eyes"

[@keithstewart7514]

See Noam Chumsky

[@tuckert6649]

Happy Birthday

[@iFreeThink]

I was suggested his LinkedIn profile.

[@drhodes3290]

Leona Helmsley - "We don't pay taxes. Only the little people pay ."

[@drhodes3290]

I am not sure what to make of these comments???? Are you trying to sell me something?

[@joshmattingly8056]

I can't help but FEEL, when I hear you speak so profoundly about such important issues...while it seems you haven't fully moved into (what I can only assume) is your new office. Haha. Cheers mate. Eloquent and loquaciously spoken as always. Edit: For frame of reference Activision-Blizzard (game company) pays 0 taxes yet still get hundreds of millions in tax returns every year... OUR taxes. We pay these assholes to rob us! My apologies for my language prof.

[@Mr1stcat]

Is prof Richard Wolff for or against the green new deal ?

[@lenuvian]

GTFO

[@Mr1stcat]

@@lenuvian

[@collybeans586]

@@Mr1stcat

[@ALL_CAPS__]

When you compare the numbers, that's where the corporatist/neoliberal bait and switch takes place. Of course, any number above zero helps. But it is nowhere near the amount necessary to tackle the problem.

[@marxseet]

You forgot to mention thereafter raising the tax on the bottom people in the name for the use of the newly built infrastructures. This is what my country government do. There you go, socialise the debt back to the people (the circle is completed).

[@Cid2065]

ASK WOLFF: WHAT'S HAPPENING TO ALL YOUR BOOKS?!! Hope all is well!

[@Guitarpima]

I wish you would make this connection: citizens United makes it possible for the taxpayers to bribe politicians on behalf of the corporations. Since they save more on taxes than they pay out to politicians, taxpayers pay for everything. This includes charitable donations as well. The irony, we have publicly funded elections.

[@walterburger5281]

Get the hell off my lawn! - Richard D Wolff

[@NinaCantHearU]

🎵🎶USA Bridges falling down🎶

[@nthperson]

It is worth clarifying that the aggregate reported value of all shares of stock held is a value that is subject to changes of huge proportions. Should "the market" get nervous about "the economy" for any of many reasons, the selling price of stock could fall by a good deal in just a few days or even one day. The stock market is nothing more than a very large gambling casino. Asset values logically should be established by capitalization of an income stream. For shares of stock, this should be based on dividends paid. For example, assume that investors are content with a 5 percent annual return. The company pays $5 in dividends per outstanding share; so $5 equals 5% of what amount? $100. Logically, the selling price of the stock should be around $100 (slightly higher if potential investors believe dividends in the future will increase, slightly lower is the expectation is in the other direction). Today, few corporations pay dividends. Profits are distributed to executives as bonuses. Investors are lured into the markets by the prospect of realized "capital" (meaning speculative) gains. Among the many changes in law needed to tame the stock market is to require corporations to pay out dividends based on a formula that factors in the need to retain earnings for various business reasons, after which the remaining profits go to all shareholders. The distinction between owners of preferred and common stock should, for these purposes, be prohibited.

[@wilfredtankhoonpheow2605]

American public are happy to hear about CHINA bashing, d

[@durdndemolition]

Are you moving to a new home, Prof Wolff? You've packed up all your books.

[@durdndemolition]

Hey @RichardDWolff, you've got an imposter here. Probably using a capital i instead of a lowercase L.

[@NinaCantHearU]

Report comment and or user it helps Richard alot

[@NinaCantHearU]

@@ADMIN-ug9cd fake reply as well

[@durdndemolition]

@@NinaCantHearU I should have thought of that, thanks for reminding me.

[@NinaCantHearU]

@@durdndemolition plus I email democracy @ Work so they are aware. They give many thanks last time

[@lincolnteh1963]

Most will go to big corp.

[@cybercuichi]

It's an easy problem to solve, we just all the little people need to get united, and refuse to play their game, and stop buying what they are trying to sell you, I mean all the stuff you do not really need, stick to essential groceries, plan for shortcuts, like sharing rides to work, walk, or ride the bus, so you spend less gasoline, do with a less of the services you pay for, and you really do not need, do not buy that expensive pair of sneakers, or the fancy dress, and iPhone, As for example; everybody criticize Amazon and Jeff Bezos, but do they stop buying through Amazon? Not really, In other words put a break into their profits, and things will change in our favor.

[@TomRivieremusic]

Millionaires work for Billionares.In America you guilty until rich.

[@henry-he3ln]

Without roping the rich corporate into the system, who is there to win the elections.

[@garufia]

professor Wolff...You need to be heard at the White House. Try to get an audience with the President.....I say this in all seriousness. You might be surprised.

[@juanjerez7915]

I want high speed trains!

[@kevinthegreat3572]

America spends money faster than it can print. To solve this problem he needs to print $1,000 or $10,000 notes for that mater just to keep pace with his spending.

[@nthperson]

No need to print paper money. Most spending is electronic.

[@limmiesnoddy1977]

We'll be back to Dirt Roads before The turn of The Century

[@Burevestnik9M730]

We should copy Germany.

[@davehall3351]

Are you moving?

[@Velastine]

Pack your shit folks. We're going away... into the history books.

[@eddiekulp1241]

If the economy was bad last year how can the stock market go up? It goes against economic logic or sense .

[@lorrainewest7408]

Stock manipulation. Look it up. Was apparently illegal for valid reasons. What is happening. Politicians conveniently changed for their cohorts benefit. Was it Bill Clinton. He changed Glass Stiegel key cause of 2008 financial CRISIS.

[@richardwong2950]

The system in the UK is no different from that in the US. Little is spent on infrastructure, or rather new infrastructure. There is maintenance with inferior quality just to patch things up, and it will have to be re-done two years later. This is a sign of fire fighting with under funding. The UK is better than the US in many aspects because it has social care towards the poor and the disadvantaged, but only up to a point. The capitalist system really serves the few and not the many. Ordinary workers pay most of the taxes. The UK government gets as much from indirect taxes as from direct taxes. Indirect taxes hit the poorest the most because we are all consumers and buy essentials, which carry VAT (sales tax on most items at 20%), duties and tariffs etc. This brings me to say that Singapore used to be a low tax country but is increasingly taxing more, including sales tax on goods. By contrast, despite all the ridiculous Western propaganda against China and Hong Kong, there are few and low taxes in Hong Kong (there is no sales tax) and it is as free as any cities that you may name in the world. It is reported that Joe Biden has spoken to Boris Johnson (Prime Minister of the UK) that both countries should spend big on infrastructure to rival China. There is no way that the US and the UK could rival China in this respect. During the peak years China had poured more concrete onto the ground in a few years than the US in a century. China is a huge country so there is a lot to catch up, but many regions, including many remote and rural areas, have new roads and broadband internet. In contrast, the UK government or private companies will not spend money uneconomically to upgrade the infrastructure of remote areas with few population. This is the capitalist way. China does it exactly differently because it is a socialist country that serves its people. If you search KZbin you will be surprised to find that the Chinese government goes into great lengths to looking after its poor people in remote areas. Lots more need to be done and it will be done. That is why, contrary to Western propaganda, the Chinese government gains more than 90% support from its citizens, topping the world ranking. This is what Western politicians and their controlled media don't want you to know that a socialist country can succeed where a capitalist country fails. The West, led by the US, has suppressed socialism such that it has never been allowed to demonstrate its merits. China has shown that it is possible to flourish under a socialist system. This is probably the major reason why the US and its allies are doing their utmost to stop China from becoming stronger.

[@annford6640]

Dr. "Rick," are you all moving? The dolly and the empty shelves and everything?

[@hermanhsu5994]

It’s above any system, Ha, Ha, it’s nothing but greed.

[@norzip5790]

car lobbyists is way too strong in usa :(

[@ifuknjk]

2 little 1=2 later belt n rod will beat usa copy hands down

[@sunhuatom]

more rich ppl tax and invest in infrastructure are the way to go, but I doubt the US has the ability to achieve this.

[@leo3334]

American democracy and government by the people for the people is a myth

[@whiskeykilmer1866]

Nine trillion in gains yet my pension went up squat.

[@MegaKootz]

Nothing will fundamentally change within the united corporations of america, land of the fee, home of the corporate enslaved.

[@jimmykaming]

apprenticeship. when it comes to infrastructure, go to the master, the og, China. don't be racist about this comment even though I'm Chinese, mates.

[@elvinhayes7120]

Google "real inflation numbers" and check out what comes up.

[@patrickdehertogh2080]

When's hail bopp coming again? Im off to get kool-aid and sneakers.

[@austinhernandez2716]

Cut the military budget increase that Trump added, and there's an extra trillion alone in 10 years. It's not that hard.

[@jeffreystliow]

If u print enough of fiat money and throw it at the pothole, it will be fixed. Don't worry, be happy.