You'll never be rich

[@chrism8180]

"It's called the American dream because you have to be asleep to believe it" -George Carlin

[@garrettallen7427]

Luckily everyone needs sleep and dreams when they do.

[@GUITARTIME2024]

Tell that to my wife, who's from Europe, didn't learn English really until teenage years, got an MBA here, and is an executive now.

[@donotlike4anonymus594]

great funny george carlin... but he like many others don't understand the point of the dream it's not about u getting rich/sucsess... it's about you working hard to be better off then how you were and about giving your kids the opportunite to have even better of a life...

[@luigidaniele6613]

@@GUITARTIME2024 Exactly, my mother and father were both immigrants, today I own and have co-founded multiple businesses, all of which have been successful.

[@guyincognito1232]

The game is rigged, guess I’m moving to Canada

[@SuperImmenseGaming]

Very difficult subject to talk about objectively. Very good journalism. Big fan of this channel!

[@tompain2751]

...but so wrong!

[@donotlike4anonymus594]

Yeah.. read my other comment people... this is bullshit u know..

[@FredRobel]

You're bringin' me down Lou! But seriously; when I was 15, I had that poster of a Lambo Countach on my wall, and I honestly thought I would have zero problem affording something like that someday. Somewhere between then, and 48 years old, a wife, three kids, etc; I realized that I would never reach that level of wealth (barring miracles). I have been happier since I took that lesson to heart. I dream of simpler things now, and that's ok.

[@longapathy6949]

I’m 22 and already have simpler dreams.

[@freds4019]

Head up high Fred ! Invest in the kids ! Raise them well and proud of their father and mom ! Keep the fam in my prayers.

[@9doggie12]

Wood side credit and savings

[@user-zd9fc4vs4q]

@@default2826 I absolutely agree with your comment, there has never been a better time than now. I've attempted ecommerce & was able to break even. I'm taking courses now to improve myself while also getting licensed as a mortage agent at 19! Other people want a path made for them, well if you always follow a path someone else made you'll end up building their dreams. I wish you the best, & I congratulate on your inevitable future of crushing 7 figures!!!

[@Caseylawton]

The American dream is anyone being able making it here to have a free and fruitful life without any person or government impeding on it. As you've learned, lambos aren't a requirement of that haha (just a nice cherry on top)

[@corpsman]

Whether you like his stance or not, this video was deeply informative AND has given light to common criticisms from both sides. Excellent reporting!

[@vienna11215]

That's not reporting, that's called editorializing. Learn the difference!

[@corpsman]

@@vienna11215 You are absolutely right.

[@09ThunderOne]

Asaad Mahmoud you mean full of correlations that have zero causation? Ok

[@Comeandsee300]

god bless beme

[@VinceroAlpha]

@@vienna11215 you can say that about virtually EVERY SINGLE news outlet today. The two have been homoginly synchronized to a point that even most news "professional" at differentiate between the two.

[@Zamoti212]

Hey! It's Lou, and you'll never achieve your dreams.

[@sementhrower420]

That's the type of pick-me-up I needed in the morning :D

[@CoveringFish]

Rusty Shackleford I’m good I was born upper middle

[@holdmybeer]

@@CoveringFish shit happens, then you're homeless.

[@juliuscaesar1039]

Thanks.

[@jeremiahandryusky3574]

Bruh chill i dont need that type of negative push notification this early in the work day.

[@Yesivhdez]

Jeremiah Andryusky lmao seriously

[@sp33dweed]

for real

[@CallieMasters5000]

Lou's talking smack at subscribers!

[@HiberNAT]

he straight hates us haha

[@euphorianlife2251]

Google Andrew Yang

[@CoveringFish]

Lou: it’s hard to get rich if the deck is stacked against you look at these statistics. Everyone’s 3rd uncle: NoT TrUe I SucCEeded Look at ME!

[@CoveringFish]

@@enlightenedsoul8897 wow a 1 year old comment got replied to. And of course it’s a pull yourself by your bootstraps guy

[@koketsok1513]

when i saw the title i was like...lets review all the reasons i know of and lets see if we have anything new

[@zurilift]

I think this video is more for the idiots who still like to believe the rich when they tell them that one day they will rich as well.

[@CloudCellC2]

Oh boy. This will be a dumpster fire in the comments. Let us use that energy to upwards mobility moving up.

[@cleanwaternasenyiuganda8124]

Why aren't they making a video about the common ways upward mobility actually happens.

[@braceyourselvesfortruth2492]

@@cleanwaternasenyiuganda8124 those videos are all over the place, but most people shun them as if they're lies because they prefer to believe that rich people are criminals or that they were born with silver spoons in their mouths.

[@tompain2751]

@@cleanwaternasenyiuganda8124 Thank you!Rich Dad,Poor Dad,Is a good book.Search You Tube.This is just whining.Dave Ramsey.

[@BearsThatCare]

I can attest to this. I was born into relative poverty, usually with under 30k of parental income. The long term investment into our schools has given so much more opportunity to the for the less fortunate of our city of Omaha (most often people of color). In just about 30 years my high school went from a frequent battle ground for the bloods and crips to a STEM magnet school with a thriving community. Poverty is still a big problem of course, but because of these advances I was able to get a full scholarship to one of the top universities in the country. Commitment to diversity and inclusion is the way forward for our country.

[@lamdrewpleasse4667]

Right, except "diversity" and "inclusion" is used to discriminate based on unchangeable factors, not just economic circumstance.

[@BearsThatCare]

@@lamdrewpleasse4667 Everyones life is based on unchangeable factors. I can't change the fact that entire generations of my family were denied access to higher education and basic safety needs, just as many of my white friends can't change the large amount of competition for overly expensive schooling. Considering the city of Chicago is about 66% people of color, its not "discrimination" to allow 10-15% of their class to be African Americans, who likely have had many barriers systemically blocking their success.

[@lamdrewpleasse4667]

@@BearsThatCare See, that's the problem with "likely". Just because you likely had a problem, does not mean you should be compensated for it. Know what we can use to be certain that you were disadvantaged? Socio-economic status. Why in the world would we use something as discriminatory and unreliable as race when we could simply use economic situation?

[@BearsThatCare]

@@lamdrewpleasse4667 Scholarship money is always awarded based on parental income. Still, its easier to get in if you're white.

[@lamdrewpleasse4667]

@@BearsThatCare No, it's not easier if you're white. You're more likely to have access to resources if you're white, but that in no way means that just because you're white, you'll get in easier. Even though scholarships might mostly be given based on socio-economic factors, what's the deal with affirmative action?

[@sile1727]

I love the part at 10:04 which highlights the problem is not with the overall populations' personal choice but the structure of the system. Yeah you can live frugally, but its not going to make you rich; it just reallocates where you spend.

[@zac8603]

Don't worry that wealth will just trickle down. We gotta keep working for less and less in the meantime like Jesus and Ronald Reagan intended.

[@LiterallyChad]

Yep that why it rains in Seattle so much. Bezos just flys up there in his dick rocket, takes a wiz with God and then everyones rent gets paid.

[@jaywyse7150]

@@LiterallyChad underrated comment😂

[@omgpaulwhy8572]

Why has this channel not got millions of subscribers? This is top notch journalism! Well done, huge fan!

[@Lumencraft-]

This is one reason I am SO proud of my state right now (Missouri). In a recent poll we passed a $4.15 per hour minimum wage increase!! Up from $7.85 to $12.00 over the next four years!! In a place like NY that probly doesn't sound like much bu here in MO were we have a realistic housing market is a huge step in the right direction. $12.00 is almost as much (not quite though) as I started my helpers out at which I am also very proud of BTW.

[@MisterMakerNL]

I think the French know how to deal with this.

[@vienna11215]

Yes, there even was a French man who invented a machine to deal with it. His name was Dr. Joseph-Ignace Guillotin.

[@duchesseebene1273]

OFF WITH THEIR HEADS😤😤

[@nathancasey7712]

@Mitch mane so?

[@luigidaniele6613]

You know the french wanted LOWER taxes right? not higher.

[@LancesArmorStriking]

@Mitch mane High taxes... _on the poor,_ while it was suspected that the aristocracy, Louis included, was _hoarding its wealth._ Sound familiar?

[@Lilgamergrlie]

All of this makes sense to me, all of the things discussed do impact a person’s life, but if a person works hard and lives on less than what they make, and chooses a trade or a career field that is estimated to grow then everyone can make a million dollars. It’s hard but it’s doable. You have to work hard and teach yourself a lot of the time and seek out resources outside of your community but it is doable. The dream isn’t dead. It’s just harder to chase now. But it’s doable if you lace up your running shoes and focus on saving and bettering yourself. Great video though. Well researched too.

[@achillesfury]

shhhh most ppl don't like self improvement, it is easier to just blame we have free ivy league course online along with world information online but here we are, viral cat vids

[@Lilgamergrlie]

LD321 congrats on your businesses. It’s my opinion that the dream is harder to chase based on mobility statistics discussed in this video. It really varies person to person if you see it as a hard dream to accomplish though.

[@LancesArmorStriking]

@@default2826 Higher numbers of, and even higher percentage of, self-made millionaires doesn't mean the American Dream is more attainable, if those increased numbers are a smaller share of _the entire population._ Basically, if (for example) 1% of (all) Americans were millionaires in 1990, vs. 0.25% today, does it really matter that they're self-made? It's statistically less likely for you to become one. Especially because the 'rising number' papers don't tend to investigate their initial economic condition- if you already make $500,000/year, becoming a millionaire doesn't say much about America as a whole. You were already at the very top.

[@64lundyco]

I agree that a degree no longer guarantees a job. It's over priced and over valued. More people should go straight into the work force or technical school out of high school and more employers need to stop requiring degrees for work that can be taught on the job

[@chrism8180]

But you see the employers need to do that to prop up colleges/ universities. Think of all the lost revenue from student debt and the book racket they created. Can't lose that

[@ZybakTV]

Live below your means, invest aggressively, and go into a field where there's a shortage or upcoming shortage of labor. Working for me so far.

[@lemonheader]

Very good advice and something I'm just starting! Also, I swear I see you on all the same channels I watch lmao. Guess we have similar taste. Hope you're doing well zybak! Thanks for all the crowfall content :)

[@ZybakTV]

@@lemonheader I'll hopefully be putting out a lot more Crowfall videos now that 5.100 is out!

[@lemonheader]

@@ZybakTV sounds good! Looking forward to it. The game looks so promising. I'm excited for it.

[@LiterallyChad]

Great solution for the people with enough means to live below, but for rest of us this is just patronizing.

[@belligerentinstigator944]

Being here means you are already rich compared to most of the world.

[@watmosphere]

most of the world already has access to Internet, about 55% of the global population

[@ElectronicCalifornia]

Many European countries have a strong 70-80% middle class. America has seen a decline to 50-60% middle class, and it's still declining.

[@gracefool]

Except that "rich" is *always* a comparative thing. A $30k/year person in a society of $60k/year average is much poorer in everyday life than a $20k/year person in a $10k/year society.

[@ElectronicCalifornia]

Regardless of how "rich" you think Americans are compared to the rest of the world, the middle class and poor in America have been getting poorer for more than 30 years. As long as people burry their head in the sand, the decline will continue.

[@cleanwaternasenyiuganda8124]

Thank you! My thoughts exactly. Nobody in America has to schlep 2 gallons of water home twice each day. The people in Nasenyi Uganda are lucky to have such a privilege once again. Please watch my channel and consider donating❤😘🌍

[@KatBurnsKASHKA]

Honestly, this channel needs millions of views. This is excellent journalism.

[@freds4019]

Kat Burns Right I feel that

[@TheRealSaintNickNorthside]

Best video BEME News made, keep fighting the good fight.

[@fernidad135]

Easily one of your best videos so for on such a hugely important issue (economic inequality). Love this channel, especially Lou here. Thanks for the kickass work you guys do.

[@lamdrewpleasse4667]

Agreed, we need to forcefully redistribute wealth from the top 1% in this world (those making above ~$32k a year) to the bottom 99%. Economic inequality is truly a great issue we will look back upon in history with shame.

[@ProfVRandall]

Also, racism significantly impacts the ability to stay wealthy. Research has shown that because of racism, Black boys born in wealthy families are significantly less likely to stay wealthy.

[@kdanfrew]

I learned many years ago that Money isn't my goal and you have to be a douche bag to be rich in any country. I'm a small family subsistence farmer. I'm happy.

[@azialifaziz6652]

In a word: *neo-liberalism*

[@thejquinn]

Actually centrism

[@LiterallyChad]

@@thejquinn Neo-liberal policies are Voted for by everyone from the Liberal Lights to the Alt Rights (including Centrists but far from limited to them)

[@beeforeal5497]

Matthew 6:20 "But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:"

[@ghostnoodle9721]

Says your priest with the mercedes and fur coat

[@beeforeal5497]

I don't have a priest. I can read the Bible myself.

[@cancel.lgbtq.6892]

Start investing when you are young and you won't have to worry about not being rich. Don't let anyone tell you what you can or can't do. Roth IRA , roth 401k , REIT's , ETF etc. Listen to people that motivate you such as Dave Ramsey , Graham Stephen , Jaspreet Sighn , and many other youtubers.

[@weareorigin]

My friend is the perfect employee. He shows up early in case of car traffic, he never calls off, respectful of everyone, etc. His job built a new warehouse in a poorer state, and told him to reapply if he wants to work there. OUCH...after many years of loyal service too.

[@s.flanders]

Hopefully, his experience and performance make him employable elsewhere, hopefully at a higher wage.

[@ronniedai3683]

My experience with my Asian immigrant friends is you work hard and be smart about your money. Your kid and break out of poverty. They save money on food, rent and everything, working 60+ hours, only eat out few times a year, never buy Starbucks coffee, and when their kid reach school age, you either petition to a good school not too far from where you live or you rent a shitty tiny apartment in the good school district so your poor kid can have the same education as privileged rich kids. There ARE ways to climb up, but you have to work twice as hard.

[@mortenstroe4308]

Jokes on you, I live in Denmark.

[@Oscar_Armstrong]

I wish I did.

[@zurilift]

HAHAHA!! Good on ya man I wish I live there too

[@claydog6422]

Do you have internet there ?

[@garrettallen7427]

So yeah I looked at a recent OECD report which had taken samples of the middle class from all over the world from the US to Spain to Great Britain to even Denmark and BIG surprise...they found that the levels of middle class citizens were declining every where, but for different reasons. For instance, in the US, the upper and lower classes grew while the middle stagnated, while in Spain every class but the lower class fell in numbers. So in short, you aren’t safe either.

[@kat3325]

Being rich in Denmark with 60% tax? Rather doubt it

[@GregWintherArtist]

How dare you assume my wealth!? I'm Norwegian, which makes me rich by default according to my friend from Kosovo.

[@cleanwaternasenyiuganda8124]

True! Kosovo is rich compared to Uganda

[@GUITARTIME2024]

Norway wipes the citizens butts. It's an oil state. Enjoy your mediocrity.

[@lateblossom]

Unless you have the Lord, you can only play the cards you're given.

[@max2082]

I'll probably never be rich because I'm not smart enough or talented enough. I probably peaked back in my early twenties when I was trying to go to college. But I dropped out and I've been trapped in the same old retail jobs for almost twenty years now. That's all I have skills for so that's all I can ever expect.

[@CoveringFish]

That’s depressing.

[@Mas3452001]

You stay poor the same way you stay fat which is you surrender to what you know and never decide to make a meaningful change in your life. I'm 1 of 4 boys to a single mom who was at one point arrested when I was 12. We then spent 2 years low key homeless where legally my dad was my "guardian" but since we were all crammed in his empty 1-bedroom apartment us boys had to find a way to not starve. That experience made us all fully aware we can't wait on anyone to save us. With this mindset, all four of us have gone on to find jobs well above the median income. Two of my brothers joined the Marines and were laser-focused on getting roles that they could build a career on so now one works logistics and the other is in IT Security. The oldest was more hands-on so he made a lucrative career in event production and now travels the country building out huge events. While I the youngest went to college, powered my way into big data & digital by being self-taught in SQL, Java, & Python. None of this would've gotten done if we all just sat around waiting for someone else to help so I recommend many other Americans go do the same.

[@vandreadparty]

O poverty is a choice bullshit. Go sell that somewhere else.

[@ryan4888]

new drinking game; take a shot every time louis touches his glasses

[@nickmattio3397]

All these companies with many job positions being unfilled also want to pay much less than the undergrad/graduate degrees should command in the market. “I’m expecting around $70k starting salary with my Graduate degree and..” -“We’ll start you out at $45k, yes that’s nice you have a graduate degree also, that’s the market standard now.” Yea, no thanks.

[@user-lu6yg3vk9z]

Because there is a saturation of college grads. It’s a supply demand situation. What you need to understand is that your pay is dependent on how easy it is to replace you.

[@thejquinn]

7:07-7:12 "Paying a ton in taxes" Name a 1%er that does?

[@chaskacox-potter3217]

I think at this point he was talking about the upper middle class

[@thomassoley880]

I mean I’m middle class and I don’t pay a ton of taxes because I purposely take advantage of every tax deduction I can.

[@OfficialSureFirePlan]

Lol you know that all 1% pay more taxes than you right?

[@TheseEyesSeeDarknessClearly]

@@OfficialSureFirePlan as they should. If a poor person has $100 and pays $20 in taxes and a 1%er has $10,000,000 and pays $20 in taxes do you think that's fair? *Dollar amounts and tax rates above are largely not to scale!*

[@jonathanhelgesen8800]

This is a really interesting topic! If you think so too, i recomend the Ted talk by Harald Eia, he talks about how you are more likely to become rich in a socialistic society like Norway.

[@Swagg3r3d]

Straight Talk from BEME. Go Vote.

[@zachzulanas4125]

I wish BEME had a website/app where these videos were published or they were written in article form and free from the KZbin medium. Lou if you see this I'm just a college computer science student but I'd love to help build it!

[@anthonymarquez6493]

I was born poor and have been poor most my life I recently graduated college and got a job that pays enough to put me in the middle class

[@luigidaniele6613]

good for you for taking action instead of blaming others for your position.

[@lunayen]

Good for you. That does not make you any special. One bad stroke can lead to trouble.

[@maple_fields]

Lou is HEATED

[@mimosa9188]

you know the financial institutions are out sourcing most of the accounting and financial services to India.

[@IgnusVermaak]

sidebar. very interesting pronunciation of the word negatively and positively never heard that before, with the emphasis on the "tiv" part.

[@mja12685]

This video is fuel for people who what to make excuses and blame the system. I’m 34, make $140k/ year, and am working on making a shit ton more. Parents were middle class, zero connections. Success is a state of mind.

[@asgeiralbretsen]

Anectodal examples is not relevant to the fact that success is statistically becoming rarer.

[@sebnewb]

This seriously needs more views! So good

[@aintnothingchanged2697]

one of the best american news channels

[@realhedi7911]

Facts facts!

[@Dave102693]

"The American Dream" was never real.

[@10HW]

421 trillion $ is the estimated total amount of money hidden in tax havens. Like there is a vacuum sucking all the money towards one place.

[@Fals3Agent]

if you work harder then maybe they'll be able to buy more yachts!

[@yaci7945]

Wilz L'Explorateur 421 trillions!! Dude are you sure about that, the world debt is 184 trillions and the world gdp is 84 . What are your sources

[@Justin-qz9rs]

I don’t believe this. Barrier to entry is basically a computer with internet access, at this point.

[@fistsup5700]

What? You gonna get rich as a KZbinr? Those that do are the new 1%. How about developing usable skills? How about the economic resources to get access to the internet and a computer? How about social connections? Your neighbor works at WalMart or at Goldman Sachs; which career path will give you a better career with more financial rewards?

[@Justin-qz9rs]

@@fistsup5700 You can nearly become a master of anything if you want to using the internet. Khan Academy has better content than most colleges.

[@Justin-qz9rs]

@Mitch mane Really has nothing to do with what you have to start, lazy is lazy, work ethic will always deliver return. If the starting point is dunkin donuts, go above your job, learn the regulars name and order, and maybe the regular will hire you. Businesses arn't always looking for nice resumes, fancy skills, they just want people who give a shit and work hard.

[@alexanderherrera5276]

This video makes me even more motivated to strive! Thanks 💯

[@zero_day_virus]

Beme,please tell me where can I get that Big Lebowski statue?

[@QuelDroma366]

How fatalistic. America is full of people who overcome obstacles to better themselves.

[@hobblyjig]

Amazing video. Excellent work tying together so many pieces of the larger problem!

[@shaydza]

Started off nice and factual. Ended up just ranting and sounding angry...

[@-ITH]

He makes perfect sense, you dolt.

[@jakevb141]

Everyone, your're not gonna get rich saving 5, 10, 15% of your income. Aim for 50% and see what happens. This is how you build wealth. Save save save save and INVEST

[@freds4019]

Jake VB 52 weeks in a year if don’t save a grand a week you won’t have 52,000.00

[@cosmicbinary1982]

Lmao

[@EmmanuelleVieyra]

Jake VB well if you make 36,000 a year and save 50% of that amount, it means that you would have to survive with only 18,000 a year, which is near to impossible if you live in a large city even if you are single and with no dependents.

[@jakevb141]

@@EmmanuelleVieyra then you gotta get a better paying job. I live in a city and live on around 15k and save the rest. But it gets much easier with a higher income

[@EmmanuelleVieyra]

@@jakevb141 Getting a better paying job is not as easy as it sounds, but I get your point if you take the right decisions in life and you also are willing to sacrifice comfort in order to save as much money as possible then entering into a higher middle class might actually be achievable (just maybe) but the thing is that the American dream is becoming harder and harder to realize, older generations didn't have to sacrifice as much to be successful.

[@heynando]

Man. I'll be rich. I have a plan. Work harder. That's it. Then again, my mother wasn't stressed so I came out a baby with good weight.

[@TechMyLifeVideo]

Much of this is not a surprise. England had a class system, basically lower, middle and upper, no one ever expected to change class, you were just there and you got on with it. America came along and said you can be anything you want to be, so people started believing you could be anything you want to be. People get depressed thinking they can be anything and it doesn't happen. Now those at the top of the American system have decided they want to stay there, like the English system. Moving down in the system is much easier than going up. Some will buck the trend, but most will never move. We can't all be rich. Maybe we should aim for happy, and a fair system for basic services.

[@gnothseed8135]

You always brighten up my day Lou. Even if the theme of the video isn't something cheerful, something about you makes my day. You are the most wholesome dude i know of,

[@Majestros]

If you invest only $100 per a week at an 8% return over 45 years you will have 2.2 million at retirement age. Only costing you $234000. "Compound interest is the eighth wonder of the world. He who understands it earms it. He who doesn't pays it. " Albert Einstein

[@aurotai]

Lou, please talk about Yang's freedom dividend

[@russcastella]

This is actually a decent channel

[@dieselphiend]

I wonder how many people read the title of this video who are already rich, or are going to become rich. New millionaires are made all the time. Especially in certain segments. There's so many ways to make money, it boils down to learned helplessness that keeps people poor.

[@zaynumar0]

Learned helpnessness lmao

[@Tardvark]

Instead of taxing more why dont we just spend the tax money we already have better?

[@cleanwaternasenyiuganda8124]

If it goes to overseas conflict, why do we care if the pie is bigger?

[@spicycracker7828]

well student loans did give most people a *MAJOR* setback

[@maximusdecimusmeridius5500]

Lou the odds are on the decline come on, the odds are better hitting the Powerball. Real talk.Great video,someone need to talk about this inequality.

[@matsigh]

brutally honest title, Jesus

[@JohnTCano]

Not sure why but I thought this channel died a year ago. Good stuff, Lou. Like always.

[@Ada-zg2qb]

People get wealthy when they ignore the rules.

[@PleaseTakeOne]

America is still the land of opportunities. You choose what you do with your money and where you spend it. We live in a society of high consumption, people don't save money, they don't invest. People use money for what feels good, momentary gratification. If you are motivated and disciplined with your money and how you invest, you can set yourself up for success. If you don't make enough money, then maybe you need to look into how you are spending it. Find another job, get another job. This is your responsibility, if we wait for the government or someone else we will never find stability or success. We are not victims.

[@Xmoto16]

Your right but Lou is right also. It's our responsibility to help the less fortunate but also make sure we take care of ourselves and our business properly.

[@PleaseTakeOne]

Triplicity Damystery I agree

[@PatrickKalinowski]

Financial education is not taught in schools for a reason. This kind of education is passed on by parents, not by schools. But what you don't know, you cannot pass along on to your children ... unless you self-educate yourself. Read "Rich dad, poor dad" by Robert Kiyosaki to start your own financial education.

[@benakin9172]

It's true life is not fair. That just means that poor people have to work harder and smarter. It's either you work harder and smarter or you complain and nothing changes

[@walkingdead171]

Boo hoo

[@drewcietek2097]

I agreed with his reporting up until he started saying taxing the wealthy more would solve everything. If that were to happen, the wealthiest members would move their kids to private schools, funnel more money into tax shelters, or simply leave the country. A solution, if there is one, must be implemented on a local, not federal, level if it is to actually tackle the problem.

[@marcabouserhal342]

Thanks for the motivation

[@JeandrePetzer]

Your title makes an incorrect assumption. At least in my case.

[@lillyrey5727]

Great reporting!

[@niboe1312]

Don't be discouraged, poor people! All this changes is by what means you will get richer. Working harder at your job? That won't help. Voting for candidates who want to redistribute wealth will. Peaceful assemblies will. Activism will. Unions will.

[@BlakeBolgiano]

The map showing the odds of going from the bottom 5th to the top 5th doesn’t necessarily mean that it is more difficult to do so in certain areas than others. The likelihood of something happening doesn’t equal the difficulty of something happening, and correlation doesn’t equal causation. We can’t undermine or ignore the other factors involved. What if people in the areas with greater odds of going from bottom to top just work harder? What if the culture of black communities in the south handicaps aspirations? Not to mention, I’m not sure people in the bottom 5th even want to reach the top 5th. I’d like to see the same odds of the bottom 5th reaching let’s say, the top 30th or 40th?

[@deleteme8774]

Beme goes Breadtube.

[@whattheshart1]

“Youll never be rich” Im really not surprised

[@ItsMikeArre]

Mayb not rich but ... Better off then most I’ve been putting money into my IRA since I was 19 I’m over 300k I know that doesn’t make me rich but when I decide to retire I’ll be closer to a million I’ll sell everything and move to Portugal and just waste away in comfort my golden years 👍🏽

[@thejquinn]

HAHAHA One of the most foolish things you've ever done that money will go right out the window when the market crashes better take it out now!

[@ItsMikeArre]

Justin Quinn why wouldn’t I just pull the cash out get liquidity and buy them at a cheaper price ? Besides I’m in my mid 30s I can afford to take a hit now wouldn’t be the same if I was in my 60s

[@5pctLowBattery]

9:27 born rich, stay rich (except if you’re black): A massive new study on race and economic mobility in America. Even black men born to wealthy families are less economically successful than white men. Black Americans experience dramatically lower upward mobility than white Americans do - a difference that appears to be driven largely by significant economic disadvantages among black men. -Vox

[@mattcraft7758]

If you believe this title check out Dave Ramsey’s baby steps.

[@ld7096]

Uncle Dave 😂

[@thomassoley880]

Good guy, thankful I read his book when I was younger

[@stachowi]

Tax wealth NOT income... there's a HUGE difference.

[@jacksonburch5337]

Well......some of that economic data is iffy. GDP measures what you make and what you spend. People are mostly spending since savings rates are between -1% and 5%.

[@JoseFloresEC]

Why is their relatively so many dislikes?? Quite informative and addressing possible opposing opinions on point

[@kat3325]

Jose Flores because it is one sided and biased

[@thedbcooler]

If you tax rich people more they just leave and go somewhere where they aren't taxed as much/ move their money abroad through offshore accounts. Unless tax rates are equally high everywhere in the world then this issue will not be fixed.

[@thedbcooler]

@@default2826 The level of rich that I am mentioning isn't people early 150k - 300k a year. In that instance yes taxing them more will probably work. I'm talking about millionaires/ billionaires who don't gain their wealth through a pay cheque, but rather gains on stock. There is nothing stopping a person moving their financial assets gained through dividends in the country of origin. They can just move their money to companies stock that doesn't reside in the USA which has more relaxed tax rules. Once in that country they abide by their rules and can move it through banks in said country. The city of London funnels trillions of dollars every year to British Dependencies that have zero tax. Why do you think Apple has their cash reserve in Jersey? Rich people are smart and try to keep hold of everything they have. It's smart on their own behalf.

[@EVOXSNES]

Productivity gains by business is what drives profitability. Productivity gains should not be solely kept by business, part of it should be passed on through wage increases. Given the right balance between a business needing a share of those gains and workers having a share, the economy, and life in general, will be optimal. Consider that the more people have, the more they have to spend and the more they have to spend the more favourable the environment is for competition to flourish. If a fair portion of productivity gains are not passed back to workers then you can expect a poorer quality of life from a first hand and third hand perspective, in ever aspect. It works the other way too as workers pocket the lion share of productivity gains, business is then deprived of capital to invest etc, which is what they need to grow. The problem is that we do not regulate properly to achieve this sharing of productivity and every time someone comes along with an idea to do it, it just gets undone.

[@EVOXSNES]

Also, economics and capitalism were never intended to benefit the wealthy. For both to function as they should, properly, both are best served and a society is at its most optimal when productivity from business is distributed fairly amongst the businesses themselves AND workers.

[@dcu21]

Felt attacked. Reported as harrasment

[@arturoregueira976]

I do agree with the notion that there is a large amount of wealth inequality in America, and it must be addressed. But the way to go about that should not be taxation. Not for the reason that one might consider that it is theft( I don’t believe taxation is theft) but rather that it dose little to nothing to actually create long term wealth equality. The reason for this is that simply taking money from a rich person and giving it to a poor person will change the situation. Why is this, 2 reasons 1. Rich people tend to be more knowledge, not because of genetic or anything like that but rather because of a better education, because they are more knowledge they are more capable of finding a way of circumventing the tax code, through loops holes put there through lobbying, or through human error on the part of the portions creating the tax, if the tax cannot be properly tax then that would mean that almost any effort to redistribute wealth through taxation is made ineffective. The second reason is that when you hand a poor person more money that dose not necessary affect there situation in the long term. As previously stated almost any tax on the richest in society would not be effective meaning that new revenue won’t be give to the poor man. The way in which to promote real growth for poorer people in society is to improve there human capital, which ultimately decides your wealth. To give you a historical example Jewish immigrants from Europe to America during the holocaust had almost no wealth when they came to America, they still had there skills ie human capital which allowed them to quickly improve there financial situation once they put there trades and skills to work. Or a more recent example, when Cubans who were escaping Castro’s regime, came to the US they had no financial capital to speak of, but they had there skills and now in 2019 if you add up the revenue of all Cuban business( not even including Cuban wages) it is larger than the total gdp of Cuba even though

[@arturoregueira976]

Sorry I accidentally sent it I will continue the rest of the statement here: Than the total GDP of Cuba even through there are less Cubans in the us than in Cuba. So what I am getting to is that taxation is only temporary and inadequate in the long run, and the only way to make the poor rich is to increase there human capital by education or by experience/ skills.

[@BrandonVezaYT]

I don't like the title. I got here and I intend to stay here 🤣

[@softrosee3987]

"Thanks Beme Very Cool"

[@RomainC99]

That's why America needs to vote Yang in 2020. He's addressing these problems. #YangGang

[@CybershamanX]

(1:20) That unemployment graph is interesting. There seems to be some sort of cycle or rhythm to it. My first thought was presidents, but I don't think so. It looks like it's close to a 10 year cycle. I'd be interested in hearing someone who has experience/knowledge about how it works. :)

[@arnoudbleeker8227]

m.kzbin.info/www/bejne/hnnIYZWOdq6ooZI This video explains it very well

[@CybershamanX]

@@default2826 Totally spaced replying to you! Just wanted to say thanks for the info! :)

[@CybershamanX]

@@arnoudbleeker8227 Will check out your video! Thanks for the info! :)

[@HoppiHopp]

Almost always depressing but always a good video.

[@holdmybeer]

im forty and have never had more than $5000. i really dont care.

[@SparksStar]

Born rich stay rich or Born poor stay poor. Damn that's hard.

[@SandTguy]

Did He say we can't or can have both. At the end of this video thanks.

[@3rkid]

Warren has a plan for that!