Why Tax Cuts for the Rich Are So Stupid | Robert Reich
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- čas přidán 26. 09. 2017
- Rich Americans know they don't need a tax cut. Listen to Tom Steyer.
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Economy always goes well when the masses have money to consume, to buy everything the economy produces. This is both common sense, and proven in the history.
Zoltán Juhász But the masses wont have that much money to spend. When the government taxes billionaires that goes towards social spending and small government worker salaries. When they stop, for the most part, that money stagnates in some private bank account taking it out of circulation for all intents and purposes. The taxation on the super wealthy is a large part of what keeps the economy moving.
Mercurial Silver Yes, it is the same as what I’ve meant. Tax cut for the lower/middle class goes 100% into buying products, growing the economy. This percentage is much-much lower if the rich gets the money.
It is not that hard, but if politicians make decisions based on personal uneducated opinions, instead of listening to experts, things might go wrong.
Agreed, circulating money is key. If people spend wisely or foolishly they create demand. This supply side stuff makes no sense. BTW, politicians make decisions based on what donors want...and most of them are wealthy people/corporations.
Christian Guevara yes, they make decisions for the wealthy, but they never made it so obvious than today...
Zoltán Juhász Look at the debate between Ben Shapiro and Cenk Ugyr. This idea gets smashed to bits.
If you want to grow a tree, you feed the roots.
If you want to build a house, you start with a strong foundation.
If you want to grow the economy, you have to pay the low and middle class a living wage. They will spend every extra dollar and the owners will make a profit on that extra business.
Awesome analogies! I will use them the next time I talk about the GOP tax scam.
The problem is the GOP. They could care less about what the American people think or what is in our best interest.
@steveb796 your 100% correct, unfortunately logic is irrelevant to right wingers.
Why do people in the US continue to support politicians that do not care a hoot about them??? Truly baffling!!
My brother is one of those people. It's as if he was brainwashed.
A variety of reasons. It boils down to "Find a core group of loyal voters who will vote for you, keep them loyal, and ensure that no one else votes." To find the core group, a good method is to find the majority group (in America that means whites), separate out the ones who are afraid of losing their status as a majority, then align yourself with identity-defining movements such as religion and gun ownership. To keep your core group loyal, you can (among other things): Reduce investment in education so that people will lack critical thinking skills; use words like 'academic' and 'intellectual' as pejoratives so that people will discount any science or evidence that refutes their position; and stir up divisiveness and hatred of people who look or act different. (Brown, LGBT, immigrants...) Ensuring that no one aside from your group votes is the easiest of all: Gerrymander, pass overly strict voter-ID laws that disproportionately affect minorities, remove opposing voters from the voting rolls on shaky grounds, ensure that polling locations are as inconvenient as possible for your opponents, and ensure that voting happens on a weekday so that people not in your demographic are disproportionately unable to take time off to vote. Oh, and don't forget that the Electoral College is your friend! You're not going to get a President elected in the 21st century without the EC (well, unless you get a 'rally round the flag' effect from a major terrorist attack and a new war, but how often does that happen?) so be sure you have your "why the EC is good" arguments ready.
Unquestioning belief in those who are writing their histories for them. Leaving it in their hands because there is no informed Democracy. Run by a corrupt, fixed, media indoctrinated system. And not enough people voting willingly & informed with facts.
You need to research Christian Dominionism. It's because the voters are as evil as the politicians. The ultimate goal is a theocracy
@@AdamYoudell Hey, not *all* of us are evil or want a theocracy. Don't be tarring me with that brush, mate! :P
Good video. The politicians voting for tax cuts for the rich are themselves rich, so it makes sense why they are for it. Also, cutting education programs to pay for the tax cuts makes sense because dumb voters are needed to keep these guys in office.
Joe D look at the south as an example!
You ain’t kidding on that one
Where does tax money go tho? Directly into politicians wages, I genuinely dont understand how people still trust that their taxes are funding the right causes.
When did letting people keep more of their money by tax cuts became bad . Is that we need to tax more so we can send money to Ukraine and countless other countries where we got veterans sleeping in the streets, letting illegals in putting them in hotels of course liberalism is a disease and our government has it bad by the way, the top 40% pay almost 90% of the Tax should the bottom, 50% pay their fair share?
The dumbness is the naiVe belief that those programs actually help people. Plus, when taxes are lowered the amount of tax revenue increases as there is more incentive to generate.
Economics 101. Happy employees are productive employees. Spending to grow the economy starts from the bottom up, not the top down.
Bottom up and middle out like Joe says
Your workers aren't happy getting seeing that they make about half of what their wage suggests they should earn. Yes you earned 12 dollars an hour but half of that 12 dollars is going to taxes and you will never see that money again when social security runs out. The boomer generation ruined any chance us young people have in retiring at age 55 by using up all the money.
It both. Not an either or.
Reading the comments makes me sad, this is basic economics he's talking about. But no, I see this billionaire being called a libertard for having an education.
*Ah, yes, lets make America great with one bad decision at a time.*
Has any of those right-wingers ever had Economics 101? It's right here en.m.wikipedia.org/wiki/Multiplier_(economics)
Danny Huffman < i can understand how you get angry because you're to stupid to understand how this video I factual and accurate. Please don't comment though. "Better to be thought a fool than to speak and remove all doubt."
Julius Red that comment makes no sense what so ever. Give the rich tax cuts so they have more money, but that money has to be replaced, so either you stop funding programs or you make the not so rich pay more tax to cover the short fall. Who do you think needs the money more the already wealthy or those with not so much.
Think of it this way, you give richest 1% of the population millions of $ hoping they will spread that money downwards instead of hoarding it. Or you give 150 million people an extra $1k in their pay packet, who will more than likely spend that money making their lives better. Which option do you think is better for the economy?
Matthew Dale if you give poor people money they just spend it and they money goes straight to the corporations and back to the rich people you took it from in the first place. You haven't solved anything, you've just made yourself feel better.
Secondly rich people don't just stuff their mattresses with money. They put the money in banks or stocks as long as the tax rates are low enough that it's worth their while. That money is reinvested by corporations or given out as loans which grows the economy far faster than the average person spending their money.
Michael Hart, that is sadly stupid and scientfificly wrong. Any consumtion through goverment handout is converted into wages and corporate tax. A fraction gets into rich pockets. It's called the Muliplier-Effect and it is pretty effective.
Thank you so much Tom Steyer. I don't pray, but if I did I would be doing it 24-7 to the betterment of your efforts. Good luck more than a billion times.
I have yet to talk to anyone who got a raise because of the Tax cuts, but we raised our prices at work because of the Tariffs "Shit for Brains" imposed.
I love noble Billionaires like this guy.
you know he's a corporate raider, right??? Made billions buying up companies and selling off assets. Leaving 10's of thousands jobless in his wake
paul taylor yeah sure thats why he says he doesnt need tax cuts.
@PaulTaylor, your proof is? Any facts? Websites to corroborate your comment?
If he was noble he would give his money to charity and stop badgering the real job creators. The man is just a hypocrite.
I am middle class and can't afford anymore taxes.
This billionaire can go to hell.
Me too
This actually brought a tear to my eye. I'm someone who believes in a post Capitalist system but if there were more powerful people like Tom around I would have more hope for this system.
The stagnation of workers' incomes and the weakening of workers' power began with Reagan and Thatcher. Two people that are still revered by some in spite of the long term damage they obviously caused.
i bet you are a welfare bum,never had a job in your worthless life
Jane Book your argument is invalid. you can attack people personally. doesnt change the favt that i have a job and i dissagree with you. the dude in the video is has a billion and disagrees with you. you argument that we agree because we want welfare is simply false.
If you really need to know Jane, I've worked all my life, never been on welfare, I am currently a millionaire.
But when people like you resort to personal insults like that it simply means you have no argument.
This is the big problem, because the Capitalists control all the media and because often poorer people are less educated and less intelligent they cannot see the OBVIOUS CAUSE AND EFFECT.
AYN RAND came up with here SELFISH MANIFESTO that was promoted by terrible ECONOMISTS (modern witches as far as most go!) and picked up by the nasty Neoliberals that have tanked the whole Social-Democratic system.
Wrong Jimmy carter Democrat 70s
Hats off to Mr. Steyer, His effort and patriotism are a raw model for those in the 1%, who are shortsighted, corrupt and greedy.
lol dude this guy is full of shit if he wanted to pay more taxes no one is stopping him. why does he take advantage of the tax cuts if he is against them? there is an IRS website for donations in case u weren't aware. also what percentage of the middle class pays what percentage of the taxes in the U.S.? I'm in poverty I take hone 15k after child support, fica, insurance and fed with holding yet I'm smart enough to realize i don't actually pay income tax. the top 10 percent of earners pay 85 percent of this countries taxes. the other 90 percent of the countries only account for 15percent of taxes paid. so all these billionaires saying they don't need a tax break are full of shit and could pay as much taxes as they feel they should instead of using the tax breaks but they don't because they just say it so stupid people will trust them.
most colleges now longer educate they indoctrinate. they brain wash fragile overly emotional snowflakes to think with their heart and not their mind. so they feel bad that their parents worked hard to send their dumbasses to learn to by self reliant. instead most get out of college with no clue what actual incomes look like for a young idiot with no experience and no social skills if they are even lucky enough to pass an interview because they don't know how to interact with people due to sitting on the fucking computer, phone or Xbox all day and rely on Google instead of reading an actual book for information. I'm 33 and oddly enough I saw through this bullshit my whole life i just noticed kids around me became a little more robotic every year and even wondered at times if maybe they were and the concept of the matrix crossed my mind at a very young age weird because its all getting scarey real these days
I think we should Make America Great Again by raising the top tax rate to 70%+, just like it used to be.
Oh, that's not what our billionaire president wants? I'm shocked...
yer only half right. 70% might be a good tax rate, but the important question is always, "who decides.?" first get the power to act, democracy, then talk about what to do with it. until you get democracy, your talk is just gossip in the slave quarters.
He's not a billionaire, but if he does the bidding of others and lines his pocket with graft he very well might be before his life is over.
fuckfannyfiddlefart he is a billionaire but he looses money because his income is literally 1dollar a year.
You mean raise the middle class tax rate! Thats what you liberals want
After Trump, we definitely need to Make America America Again! ...in so many ways.
Tax cuts for the poor! Reduce the horrendous income inequality! More money for the poor and middle class is good for the economy and for everyone!
For an economic argument there wasn't much economics in his argument it was all an appeal to Authority and then appeal to tradition.
there wasnt any economics in this.
Thanks Tom, in a country where selfishism and vulgarity is spreading from the top, a voice of reason and decency is a welcome change.
birhan2006
At the expense of more vulgarity, you're an idiot...
Why don't people like you understand that under a voluntary capitalist system, all the selfishness in THE WORLD if quarantined and concentrated into the Ford Motor Company doesn't MAKE PEOPLE BUY FORD AUTOMOBILES!!
It doesn't MAKE PEOPLE WORK FOR FORD!!
ALL the greed and selfishness IN THE WORLD doesn't mean sh&t unless you can provide a product that people WANT to buy at a price people are willing to pay!!!
If you think you can create your own company producing whatever product it is you think is "overpriced" or that corporations are making too much "profit" from, by all means, show us how easy it is, do us all a favor and make it at a lower cost for the sake of "the greater good" at the expense of YOUR profit.
David Murray
Where do I start? I don’t know whether you are a confused person or a testament to the danger of small knowledge. The selfishness I’m talking about is not whether one is an entrepreneur and successful. That is the result of hard work. But no businesses is an island. What it does to be successful in business might also affect society negatively. Mining business do affect the environment, drinking water and the air. The benefit of thees businesses heavily goes to the owners with long term problems left for society. Could it be done safely, with the help of science to benefit the businesses and also to safe guard society, maybe? But the avaricious businessmen, as we have seen it so far, don’t want an extra coast that affects their bottom line. So, what do they do, they buy politicians to bend the rules. There are billionaires who pay less tax than their secretaries. They have the same benefits that the United States has to offer to its citizens, if not more, but they pay less depending how they made their money. The tax codes and the thousands of loopholes in it are written by corporate lobbyists to benefit the already wealthy, not for the common good. That is the selfishness I’m talking bout. Don't be dogmatic abut Capitalism. It doesn't matter what system it is, if left unchecked it will rot. And the control of the political power by money is no different than the control of it by gun of the communist countries of yesteryear .
birhan2006
I simply could not be more confused by your comments. First, how I could know you were ONLY talking about selfishness within the context of entrepreneurship? Second, your argument for a specific context is moot, the logic I applied applicable in ALL contexts.
I do agree with you that there are negative unintended consequences, such as pollution, in business operations. That's not because business owners were greedy, it was because nobody cared about the environment at that time. It wasn't until occurrences like the burning river in Ohio that people started to care, when they realized their water supply would be affected. Irrelevant of the EPA, how long do think the companies who were responsible for dumping those flammable chemicals in the river would've continued to do so if it affected their bottom line because customers didn't want buy products from such a company? Or if a class action suit were filed against them by the surrounding cities to provide fresh supplies. Would, and in fact, have competitors found more efficient ways to utilize such resources resulting in less waste?
Could you ascribe me as "dogmatic" of capitalism?perhaps... Make no mistake however, I realize capitalism has its flaws. The genius I see in capitalism, is that those flaws are quickly extinguished when people are allowed to freely associate with one another to solve problems.
The problem I see in your comments are that, paraphrased "we need government regulation" used as a lever in support of the opposition of "tax cuts for the rich" and "trickle down economics doesn't work", while in the same breathe, acknowledging the paraphrasing "selfish business owners can just buy off politicians".
If you really believe that, why do think our government should continue to be funded at such rates and operate on a 4 TRILLION dollar annual budget, which, by own admission, aren't capable of providing these basic services in lieu of being paid off?
Just to be clear, I'm not stating this in the context of a left vs right issue. I will apply the SAME logic to our military. We have, as I'm sure you know, by far the largest "defense" EVER in the history of mankind. YET despite that fact AND the US having over 100 military bases across the globe AND the common knowledge that we were on Bin Ladin's "list", we were victims the most horrific atrocity in 60 years.
It'd be laughable if weren't so tragic...
My point, government is NOT the answer.
I believe we need to seriously rethink the role of Government in our lives and understand there are much better alternatives solutions than the ones we request from Washington. If you disagree with such alternatives, find others...
birhan2006 Reagan's Tax cuts blew the Economy up like a balloon, SPENDING BY DEMOCRATS WENT UP FASTER. ITS MATH FOLKS LOOK IT UP.
DENIYING PEOPLE THEIR HEALTHCARE?? YOU MEAN OBAMA CARE?? IF FULLY IMPLEMENTED 160+ million Americans who have theirs plans through their employer would lose theirs!!
It's nice to have a Billionaire spout things you like to hear, but it just ain't so
It's not worth my time discussing reason and facts with a political hack or a fool regurgitating whatever he's been fed in the right-wing media , which is mostly conspiracy
How a middle class Republican can watch a factual video like this and still vote Republican is beyond me. I like Tom Steyer, it takes balls to speak out against your own self interests.
I really think you need only look at the information and graphs representing the wage gap over the past forty years to come to a conclusion. The bottom line is, that people at the top, when given disproportionate tax breaks, do not take that money and, start a new business, build a new factory, increase their workers salaries...... Give Bill Gates, or any other extremely wealthy person 2 billion more dollars in money, they will not do anything differently tomorrow than they did yesterday.
The corporations in our country are sitting on an immense amount of cash, on shore and off shore. Am I supposed to believe that these same corporations, upon receiving tax breaks, are going to suddenly say "We have to hire more people and expand".
Growth only comes from the bottom. You give a family an extra two thousand dollars of money and the vast majority aren't going to save it, it will go to new gadgets, new computers, phones, new improvements for the house, perhaps a family vacation. That is what stimulates growth. All that new money they spend spurs demand, which in turn leads to companies increasing their capacity and hiring new workers and building new factories.
I welcome your reply.
One more thing Mark, you should really be cognizant of all the loopholes and gimmicks that have been added to the tax code for the rich over the past 30 years. When George bush changed the Capital gains tax, the wealthiest Americans saw their fortunes skyrocket into the stratosphere. There is no reason on earth why people like me, or hedge fund traders, should be paying 12 percent on income over a long time while middle class families pay over 30%. It wasn't like that in the beginning of my career, and it shouldn't be now.
@@markbutnicer3466 where did you go?
Run this ad 20 times a day everyday for the next 3 years. Please!
This is why I love Tom Steyer. He's a true patriot.
very few employers will pay their workers more than they absolutely have to, no matter how high the profit margin is. Why would they ? IMO you need to increase the minimum wages. That in turn will give low income workers more money to spend on products, probably mostly local made products. More product will have to be made = more jobs is made. The very rich allready have all the shit they need, all that would happen is maybe they'd buy another diamond ring from south africa for their trophy wife wich wont help the local economy one bit.
The answer isn't a minimum wage, it's in collective bargaining. Many of our highest paid individuals are members of unions: writers, actors, sports icons. We need to bring back the right to organize.
It is satisfying to see a billionaire being honest.
Thank you Tom! Keep up the good work. I'm glad to see that your money is being spent on the good of America. I signed you petition and passed it along. I know at least 20 that have signed. Again thank you. You are a wonderful person. Thank you. Thank you. Thank you.
Well said...I agree that the trickle down idea is completely useless for middle class and below.
Kill the rich feed the poor what I mean is vote politicians who support voodoo economics out of office
You do realize It's not Trickle down if everyone is getting a tax break except the top 1%.. Which is exactly what is happening under this bill...Each child credit claim goes up 600$.. head of household claim goes up 1000$. Under it's current revision, All tiers get a tax break except the top 1% who keep the 39.6% tax rate. So it's basically hammering the top tier and giving everyone else a break.
Arcane Turbulence
You clearly have NO IDEA how taxes work...
MrReasonablethinker www.bloomberg.com/news/articles/2017-10-19/who-wins-with-trump-s-tax-plan
MrReasonablethinker
Are you speaking for Arcane? Do you believe their representation of the progressive income tax system?
Also, if consumers are responsible for 100% of the corporate tax burden, then reducing it won't improve corporations ability to invest and hire! So much for supply side economics, huh?
Spot on! That's the truth. Whoever would thumb down this video is probably greedy and believes the lie.
This guy has my vote
Thank you. I am on the low financial end and I also figured this out on my own. Well said.
This is one of the few billionaires that isn't mentally ill with greed and power. Props to him and Warren Buffett.
International views, and accurate information. Coming from a wealthy person who has empathy, ethics and moral integrity says a lot. Our country is built by the people for the people, not for the 1%
Look iam nor i think any sensible guy is against wealth but acquiring wealth on the back of exploitation of workers needs to stop .
I really appreciated that you'd take the time to make this video. Thank you.
A regular guy billionaire. How great 👍🏻 is that...
WOW!...this is amazing, thank you Tom Steyer for breaking it down for all of us to understand....
When I listen to Tom Steyer I am relieved that not all billionaires think like the Koch Brothers. Thanks for posting.
I feel like I just breathed fresh air for the first time in 2 years. Is this what truth sounds like?
I recently became a hundredair. I already feel disconected from my working class child roots. No longer, am I living alowence to alowence!
Thank you so much for not only putting money where your mouth is, but for speaking out and not backing down. I want more.
i never understand poor people who support trickle down economics. Most of us would have worked for a money pinching boss before. Why would anyone ever believe a money pinching boss would ever increase salary just because of tax cut?
If you are a boss yourselves. Once tax is cut, the extra money would you use it on your own family or own self? Buy super expensive luxury item? Keep the money? Increase your workers pay? or hire more workers?
I lean on the dark side. Why would majority of any boss pay more out of the kindness of their heart when they absolutely have no incentive to raise workers pay...
They know the money is in the boss pockey right.... It is super unlikey they will spend it on the common folks.
The big 1% corporations don't pay taxes anyway. The problem is that the 10% of businesses have to pay high taxes, since they don't have the resources to avoid paying taxes. So what happens is that the big corporation drive out their competition not based on quality of their service / product, but because their smaller competition can't compete because of high taxes. The end result is that biggest corporation get even bigger, and their smaller competitors are driven out of market.
I listened to a radio program where the boss was earning so much money that he didn't know what to do so increased everyone's wage.
But that's one in so few.
I used to believe that work more, if you are smarter then you earn more.
This probably is the case in some senarios, but alas some bosses just get more and more so now we are in the position where CEOs are on 500x the average wage.
Nathan Patrick oh god. Are you sure so just cops and the army that's it nothing else.
I'm in England so it's a bit different but I'm guessing it's similar in some places so let's start
Fire
Amulances for emergencies
Water
Education for kids (after all how are they going to learn and make money)
Roads
Sanitation
Any laws around air pollution
Energy (think some parts in the America are state owned)
Laws, eg driving and other permits eg building etc
Other laws like air pollution.
Parks, state parks, playgrounds
And much much more. (Apologies to the government departments left out)
Can do without them, ok no worries
Nathan Patrick You know why India is so filthy on the streets that there are urine in the tunnels they commute in? Simple, they just dont care beyond their own houses.
They have zero concept of civic responsibilities. I want to keep much money to myself as possible too. But i feel guilty for using stuff in public freely so if you equate ALL tax with theft? Then there is something fundamental wrong with that thinking. The roads you are on, the electricity infrastructure you use would not be there without taxes. Is high taxes a theft? Maybe, if government just take without improving infrastructure yes thats theft. But somebody gonna pay for stuff to work.
you are saying your side of the story which says you dont want gov to dictate your food and education etc. Ok reasonable. But what about the military and police? Who do you think pay those people money to keep you safe?
The government no matter how strong they do not have infinite money . At the end of the day, someone need to pay the bills. And get the myth that America is the land of the free out of your mind please. You be better off travelling back in time to 18th century wild west or go to a desert and carve a land there for yourself if you want to be truly "free".
You cant easily have basic civilization amnenities without government support as simple as that. I dont know how much or how little you want government in your life, just saying everything need moderation.
Alexander Mostaghimi eh its all about balance in this world. Strictly in the busniess practices of course good busniessman will invest back into his own busniess. But are all busniess people like that? Answer is no.
When we are talking about busniess people they are not a monolith. Have you seen old mall that have few busniess and just run down in prime downtown area before? All i can guess is the mall owner is rich enough and just dont care anymore.
Also there is this rich local bread franchise owner who were famous and got rich from his bread busniess. Then he get into a habit of gambling on cruise ships and the quality of his product just plummeted..But he is still filthy richj owning multiple buildings, he just dont care anymore.
Usual stories with rich old
So geez i dunno. will the tax cut spur the bread busniess owner and the run down mall owner to action and improve their busniess? geez... i dont think so.
It might spur some young blood start up to improve their busniess. Theb the question remains, shouldnt the government put more support into young or determined busniesses rather than just do a simple tax cut?
I dont think lazy old gambling addict should get a tax cut for him to spend more time on a cruise. Im sorry to be judgy, but who would you support a determined busniessman or a rich fat cat.
When the recession hit, our Australian PM gave all adults $500 into our bank accounts. Tax free. We weathered the recession better than most first world countries. Investing in the people first is always the better option.
It is not that politicians are stupid, it is because politicians know who finances their election campaigns. If you want to get elected, or re-elected, give the top 1% a tax cut.
Politicians are puppets of the deep state. They make it appear we have a democracy but when they control the puppets on both sides, the public thinks they get a vote while the Deep State takes the country whatever direction they want. Infiltrating the opposition isn't just for Banana republics anymore. The USA has been run this way since its inception. That is why almost every president has been related to each other or key illuminated figures through out our history. The proof is in the pudding. Look it up. Let genealogy be your guide.
Strange if you know nothing of campaign financing.
Thank you, Tom for fighting to restore America.
It stands to reason: cutting the taxes of the CEO of Citibank isn't going to make Citibank hire more tellers (the "job creator" myth), but give that teller a raise, and they're going to buy that new toaster instead of toasting their bread with an iron.
This man for President
Wow. This Man has become one of my favorite billionaires this year right behind Elon Musk. We need more people like him.
We do not need more billionaires.
Nope, they never produced any of that. Workers do. Workers like me, and probably like you too. That's right, you're not a billionaire, you're just a schmuck just like me, otherwise you wouldn't hanging out here on YT.
The VALUE of billionaires is only in their off-shore Panama accounts. That cash is not being used for investment in our country so it doesn't create jobs. More value for them means less value for you, not-billionaire not-millionaire average schmuck Conan. (FYI I'm not on welfare, I make $152K/year)
Inventing is not something done by a single person anymore. You're talking about a past long gone. The Ford company was indeed not created by workers, but all of its cars were: the model T was not "invented" by Ford, it was the result of a collaboration between Ford and his main engineers (employees) Wills, Galamb and Farkas. As for the iPhone, that's another good example of a product imagined and designed by employees (Jon Ivy, chief designer, and his team), not by Steve Jobs. The company I work for has over 16000 patents. Not one created either by the founders, nor by any of the board members, nor by any of its executives. All created by regular employees (I have 6). I don't have to "believe". I see it everyday in my office. Billionaires don't add value to humanity, they only add value to their pockets. My coworkers and I are adding value, we create value every single day, and that's what's growing our market share and our stocks... not billionaires. You seem to believe in billionaires like you believe in Jesus or Superman. You're not the only one and it's kinda funny and sad at the same time.
ConanTheRepublican damn, you're incredibly stupid. Hahaha thanks for the laughs.
Says the guy who can't make an argument without ending it with insults. (Note that I never insulted you)
Enjoy paying your tax increase. ;)
Excellent video!!! Wow, Steyer said it exactly right: millionaires and billionaires really do not need a raise, middle class families and workers do.
Didn't know Funkhouser is a Billionaire, must've done really well on Curb.
Good video!
You are right
We LOVE YOU!!!!! Just so you know. 😘💛😊
You give a man a fish you feed him for a day. you teach a man to fish you feed him for life! We need free education!
Keep it up sir ...your could be earning money writing book and giving lectures but the content you upload shows how much you care about your country, putting yourself on the spot.
Thank you for this. And thanks to Tom Steyer for being a billionaire we can admire, unlike that buffoon in the White House.
Another George Soros Wannabe.
Tom is a globalist piece of crap.
Bank owner, heavy Green energy investor speaking out against a plan that closes tax loopholes on banks and a president who is reviving the fossil fuel industy: Something is rotten in Denmark.. This guy is Al Gore on financial Roids.
James Martin agreed.
That buffoon in the White House is not a billionaire. He sued someone for libel who said he wasn't a billionaire, and was unable to prove he was actually a billionaire in court. That's where we got those quotes of him saying his net worth is based on his feelings. His actual net worth is pretty much just the couple hundred million he inherited from his rich daddy (who also gave him the already-successful real estate business, the one Trump business he so far hasn't ruined - despite all the lawsuits for not paying workers and building contractors, and accepting funds for foreign building projects from investors who literally also supported terrorist organizations).
People with lots of money don't need more money? Whhhhaaaat?
money is like shit...in that:
a pile of shit stinks and makes people ill, but if you spread it around... Everything Grows.
2:42 am I the only one to see the shutterstock watermarks?
Btw great video and best whishes from europe :)
Thanks. BTW, Lewis Black has a great analogy on CZcams.
Tax cuts for me and my family. -trump
smart man
He is not smart. Tom Steyer is just a hypocrite. If he thinks he has too much money then he should give it to charity and stop badgering the real job creators.
I am middle class and can't afford anymore taxes.
Tom Steyer can go to hell.
Novusod
You're a moron. No one except Trump is proposing higher taxes for the middle class.
+landwolf00 no dummy he's lowering middle class taxes even the democrats are saying that
David Clark temporarily* then middle class taxes will rise. However, the corporate tax rate is forever. It's an obvious ploy to give temporary happiness to the poor and permanent happiness to the rich.
Landwolf00 Where does it say in the tax plan that it's only temporary?
Also I don't think anyone who calls how basic econocmics functions as "Trickledown economics" should be considered as smart.
( czcams.com/video/iMs_3_WOjP0/video.html )
czcams.com/video/BAFSrKqIKdc/video.htmlm10s In this clip, the nephews represent people like that. Scrooge represents everyone else.
And this is coming from someone who's current job only earns him $500 on a biweekly paycheck (after taxes).
Just found your channel mate, absolutely love the content. Subbed straight away, We should connect!
Tom, thank you for caring. Not sure how much clearer the true numbers can be presented.
The tax cut is for Trump, really.
ConanTheRepublican bullshit
I would happy donate my $1 salary if that meant i could save $100 in investments profits. Simple math really.
ConanTheRepublican he's also spending an absurd amount of tax payer money on his monthly vacations. You're so ignorant I lost 10 IQ just reading your comment. I also didn't claim to have much to begin with in case you try to offend me on that 😂
Ray C What loopholes? They removed maybe one of them, and a small one at that. There are still tons of ways for the rich to get out of taxes.
ConanTheRepublican You are a fucking idiot. What toxic waste got into your brain to lower your IQ to such scary levels? Do you sprinkle lead on you cornflakes?
This entire premise hands on capital having long term investments in a specific country or region.
Since capital now has free flow across the globe, the rich have zero reason to stay tied to a population that doesn't tolerate extractive corporate capitalism.
Democracy and any system that values working people cannot exist under capitalism. This injustice is only amplified by digital transnational capitalism.
Over 100 years ago Rosa Luxemburg wrote "Reform or Revolution". Reform has never been an option.
Excellent points. I think we are too far past the threshold of what could be done to reform the politics of our country; our countrymen are caught in this web of hyper-normalization. I don't see any impetus for them to want true reform, and certainly not a real, bloody revolution. Postive revolutions require blood and sacrifice and we are enslaved - really zombified - to technology, consumerism, and insipid patriotism. There are a few who go out on a limb and protest, but they're quickly labeled as quacks.
zell88
The American oligarchs are getting tired of playing the game of politics, so they are using their Republican puppets to discredit, distort, and systematically dismantle the democratically elected government of the United States of America. The American oligarchs are consolidating their wealth and influence so that once the American economy is crippled and bankrupt they will be able to buy in out right from under us. One nation, under the Corporation, by the Corporation, for the Corporation, so help us God.
A rising tide lifts all boats
sasosaso3000 except the boats that have holes in them.
The boats that have holes in them can be best categorized as Republican logic. It hasn't worked for decades and it will never work, trickle down economics sucks.
Good channel I gladly subscribe, you tube knows what do I like! God bless you Tom!
Tom, I truly appreciate what you have to say in this well-filmed, short, to-the-point video. I agree with your thinking.
Having said that, can you explain why you chose to dub in a random jazz percussion track which is terribly distracting?
Smart man.
I don't know him but I like him
Thanks Tom, good to know we have SOME billionaires that don't want to sell their fellow citizens out for another 0.
Beautifully said and absolutely correct. Thank You.
This man has earned my respect. Thank you, sir!
This guy supported the 3 trillion dollar trillion dollar tax on US taxpayers and businesses with the Paris accords. He is a Globalist. And wants the end of American sovereignty and independence. Respect that?
Tom Steyer is talking out of his ass and knows NOTHING about economics.
Nothing is stopping him or other libtards from giving all of tgeir money to the federal government.
Mike Thompson Right! I say cut all the taxes down to 0% and that way we will really raise tax revenue and grow the economy. Who needs a stinkin infrastructure or education anyway? A stupid society is a GREAT society #MAGA
Elect Bernie Sanders plz thx
Tom Cooper 👍
An American saying they don't need a raise??!! Why, that's unamerican! Great video! Thx
It's good to know that Nobless Oblige still exists. Where are the others?
I find it funny that a billionaire did it instead of Robert.
You mean Robert Reich?
I agree with him, in principle, but I don't that that economics indicates that tax breaks for the rich help only the rich BECAUSE of the studies. I think that the STUDIES show precisely that, but that's outside of economics. It's the studies that validate some economic models, YES.
But I think that economics more simplistically asserts that tax cuts, for the rich (in countries like ours) would ONLY help the rich. The reason would be that they would keep more of the money that they sought to get, and would hold onto that money (which is why they'd seek lower taxes in the first place). It's borderline tautological.
The rich would not, under any rational model, use the savings to invest in the economy as in hiring new workers, or buying more factory space. That would only, likely, happen in response to increased demand.
That's a straw man argument. No economist has ever postulated the idea of "trickle down economics". That's not an economic theory, rather a political catch phrase. The reason to lower capital gains and corporate taxes is to increase future profits and productivity growth by incentivizing current investment.
Youngster, but letting people keep more profits does nothing to incentivize investment.
We have such incentives available -- like inverse consumption tax (like excluding from taxation the percent of your income spent on operating expenses -- so someone poor that gets $10k per year and spends every dollar on rent, gas, and food pays no taxes, but some guy putting $1m from capital gains into an interest account or investing pays tax on that entire amount).
Or we COULD literally stipulate that the companies failing to raise their hiring/employee count and/or worker pay (bottom 20%) by an amount equal to the tax-cut would forfeit the cut.
It's more of a put-your-money-where-your-mouth-is scenario.
If the goal of an action is X then not monitoring or ensuring that X is the outcome is folly.
No. Rich people don't sit their money away collecting dust. They invest it. When you lower capital gains and corporate taxes banks have more money to loan and they loan it at lower interest, it becomes easier for Frank to start his pizza shop and provide pizza hut with competition. It also creates incentive for people to be more productive to reach those higher income brackets. There is a reason fortune 500 CEO's have come out and said they wont give pay raises and wont invest in their companies with tax cuts. Essentially opposing them...Ask yourself why a corporation would OPPOSE a tax cut...Its the same reason Walmart is a proponent of a 15 dollar minimum wage but doesn't currently pay their employees 15 dollars an hour. Because higher taxes imposed on their competition and higher wages imposed will run their competitors who aren't receiving government subsidies out of business.
Right. The phrase "trickle down economics" is not a economic theory at all, rather a political catch phrase coined by democrats to make republicans look stupid. Some what of a straw man argument. The reason you lower corporate and capital gains taxes is to increase future productivity growth and profits by incentivizing current investment.
Warren Buffet said "I don't need a tax cut, I need customers at my door"......
Another sad thing behind this type of corruption is that they *WILL GET AWAY* With this! Since this vote won't cause sudden change to disturb Americans routine, we will have all but forgotten the day back in 11/2017 when the GOP did a blatant *NO FUCKS GIVEN* with the passing of this vote!
HE'S 💯% RITE!!!! T.Y. SIR
CISCO POLO Rite... smh
Where has education in America gone since the Department of Education was founded in 1979? Try down the fucking shitter!
Chris You just proved your point
Chris, this has been a long time coming. Some of the old time radio shows I listen to have public service announcements bemoaning the lack of a decent education system and the need for teachers. That is shortly after WW2 and it just keeps getting worse. During the Viet Nam War college education eroded because of deferments from the military. The thinking was, if I flunk this student out, he will have to go to war. As a consequence, a higher number of less qualified students were passed through the system. I was there and saw it happen. No system rebounds from that degree of weakening. This should be our #1 priority and no one talks about.
The American education system is in the "shitter" because the major corporations, that you admire so much, got tiered of having educated workers demanding a fair share of the profits. So these corporations began funding the education system, so they could determine curriculum and have a say in the text books that get used. This led to schools teaching a lot of crap that could never be useful during ones lifetime, and they refuse to teach anything that could help us create a better society -- it's all been by design -- and you have been voting for the assholes that continue to let it happen.
Blaming corporations for being greedy, that’s all you have? When are you going to take person responsibility for your failures, instead of blaming others?
Chris my kids are public school kids. They’re in college now. I’m a single mom (divorced) that has worked her butt off for their opportunity and paid attention. My kids vote, are involved in their communities. I’ve never taken advantage of a public program other than public school, seems to have worked out okay for us. Don’t know why you are so bitter, dude.
the one chart shows that as taxes decreased and income gains increased for the rich, wage growth for bottom 90% also continued to increase. It does not show growing wage gap; It shows that as the Rich take in the more the bottom 90% also takes it more
Loved the video :)
A billionaire is copping to the truth?I'd like to trust Tom but there has to be a catch somewhere.
You might have to go back to school and read books if he gets his way... A lot of people will be upset and long for the deathcamps.
Steyer puts his money where his mouth is, which is more than many will do.
look at how much he has spent on his needtoimpeach campaign. Really smart man and he really cares about our country.
He has donated hundreds of millions to the Democratic Party over the years. There are still patriots out there. Just not in the whitehouse
There is a catch. If we have more, we spend more, he makes more. :P
I dont know much about tome steyer but so far hes on a great path. LOL attack trump will be the easiest thing to do. LOL
Thank you for you candid and expertise sharing. Go Figure. We have a party and president who want to bulk up their donors.
Great video. Can I encourage you to please purchase your stock images? The map animation with the "worker" images at 2:50 has watermarks on them. That's usually a sign that those images were not paid for. It's important that our photography workers get paid too. :-) Thanks!
Wasn't this guy Hillary's campaing biggest donor?
Yes you are exactly right. He is actually the largest individual political donor to the Democrats. So sure he doesn't need more money because he his already exchanging his money for political power.
Ariel Popperl
AGAIN with the deflection to HRC... why don't you Putin cyber trolls work up some new material -- like, Drumpf is a Russian mole?
I'll translate this video for you:
I'm a rich guy. If I prey on your envy of the rich who you have been taught to hate by various parasites and their ideology from a young age and so you have perceive the rich as getting something you didn't, ignoring the fact that taking less of other people's money does not constitute giving them something and the rich already pay the overwhelming majority of taxes, by telling you everything you want to hear maybe you won't get so angry by Trump's tax bill that you'll steal more from me or come knocking down the gate to my gated community and trash my place.
And I get to do all of this not by standing on principle and giving up more of my wealth to anyone or voluntarily paying more in taxes, I'm going to do it with nice, cheap words that don't cost me a dime. - what Tom Steyer really means
I'm not supporting Trump's tax bill, I don't think there should be taxation as taxation is a form of theft and so immoral, but putting that aside, come on. Surly you people can see why some rich people say shit like this but never put their money where there mouth is. The tax bill the IRS sends this man (and all of us who pay taxes) is the *minimum* amount. If Tom truly believes he does not deserve a tax cut he can sign the IRS a bigger check if he wants to. I really doubt anyone is going to stop him.
Actions speak louder then words. Be skeptical of anyone who does shit like this.
Hector Cueva Isn't it interesting that I'm saying be skeptical of rich people who virtue signal but don't follow the principles they argue and who may have less than virtuous motivations for doing so and your response to that is, basically, "You just love the rich and hate the poor."? (While you demonstrate a crass ignorance of economics, bussness, and wealth creation.)
Hector Cueva
You are wrong about and/or misunderstood almost everything I said.
1. I never said the rich pay too much, too little, or just enough. (I actually said taxation is wrong, no one should be forced to pay taxes, but that wasn't the point I was making).
2. I never said non rich people are jealous, I implied Tom is trying to play off the envy for the rich that the left has spent decades now teaching people to hate the rich for his own self-interest. In effect, that Tom is trying to manipulate your emotions to make himself look better in your eyes, and/or trying to make himself look like he cares about you or is on your side so you won't try to harm his interests. He is not the fist rich man to try and do this. It's called "virtue signaling ".
3. I never said the rich getting richer gives the poor education. I never even mentioned education at all. But now that you brought education up, the rich pay for the majority of education too since they pay the majority of the taxes.
4. I never said rich people said poor's condition is unfair is suspicious. I said be skeptical of a man who doesn't follow his own principles because he is probably tying to manipulate you.
*And it's working!* Look at what you're doing right now. You're here, fighting a wealthy man's battle for him. Defending him for free!
Tom suckered you good.
As for his principles, again, if Tom doesn't think he's taxed enough he is free to send the government more money. Except he doesn't.
Yes, you don't understand economics or business. I can tell you've never run a business because you don't understand how wealth is created. The rich don't own a majority of *the nation's* wealth, the rich *produce* a majority of the wealth, thus that wealth they produce belongs to the rich, not the nation, which they use, mostly, to pay taxes, much of which is wasted, but far more importantly, they use it to pay for the costs of running a business and invest in businesses, which means, likely, jobs for the nation, for us, for you and me.
And if the tax cuts really don't effect the rich, meaning they really are not getting a reduction in taxes, then who do the tax cuts effect, who got the tax cuts?
Listen to what Tom is saying, especially what his solution is, and try to be objective. All this video amounts to is "more free stuff for people who did not earn it at the expense of someone else". That is Tom's solution, and it's exactly what you want to hear a wealthy man say because you expect to gain from it. Who doesn't want free stuff, right?
The problem is what Tom is promising you is stolen loot. And stealing is wrong.
Hector
I'm not really sure if I should bother with arguing with you since you don't seem to have any idea what I'm talking about and your response wasn't really relevant or even very coherent.
Case in point.
How is anything I said the politically correct version of anything you said? If anything what I said is somewhat politically incorrect since pointing out uncomfortable truths like taxation is a form of theft is considered somewhat taboo.
"The ultra rich have propagandized that all their success is because other people don't work hard and you eat it up."
Ultra rich? You mean people in government?
Who are you talking about?
"It's okay that they own most of a nations wealth."
Again, the rich produced most of the wealth. Shouldn't they keep what they produce?
"Apparently, opening a business without money is viable."
I suppose in some cases it can be. Haven't you ever heard of a small business loan? What that has to do with anything you didn't say.
"You were so proud a moment ago of the rich paying for education so the answer to that is to completely ban taxes?
Nice job, let's have no one except the 1% have good education. That'll solve everything."
So the only way for anyone to pay for their kids education, or for you to pay for your own college education, is through the government stealing other people's money?
You know that's silly, right? I'm guessing you're a product of public education and that's why you don't know anything. That was money well spent...
"Because running a business has to do so much with tax cuts."
Running a business does have a lot to do with taxes. The government steals at least half or more of what I earn and uses it to bribe useful idiots like you who have no clue about economics with free shit so that you'll vote for them. I'd say that's something I have to work around/plan for in my business model.
And look how well that's turning out. 20 trillion dollars in national debt, over 100 trillion in unfunded liabilities. That was also money well spent...and borrowed...and printed...
"Apparently capitalism is about giving out a product that no one wants and losing it because of taxes. That's totally how it works. It's that one business's wealth, not the nations wealth that the video is about."
You continue to demonstrate you know nothing about economics or business. Why do you keep talking about shit you don't know anything about? You're just making yourself look foolish.
Capitalism, free-market economics, is about the freedom to buy or sell the products or services you need or want. It's the very reason we are even communicating right now.
"But wait, the rich produce most of the nations wealth? That's definitely a reason for tax breaks. Quick let's super charge the poor, that'll show them for choosing to be poor."
Again, you don't know what you're talking about. "The poor" (most of whom are not really poor in the USA) don't pay net taxes. Meaning "the poor" use more services then they contribute in taxes, which effectively means "the poor" don't pay taxes.
About "the poor" in the USA. A lot of people don't think about this, but if you make $30,000 per year or more, you are in the top 1% of earners in the world. Did you know that? It's not something your libtard socialists friends would tell you.
Most "poor" people in the USA live as good or better than the middle class in most other countries.
The number of people in the US who are actually poor, destitute, can't afford the bear essentials to live on their own is minuscule.
"We both know they have money to spare."
Compared to most of the rest of the world, you are very wealthy. How much money do you give to impoverished people worldwide who will die tomorrow without help? Any?
The issue is not whither or not someone can spare something. It's wrong to take it off them by force.
Stealing is wrong.
And if government wasn't talking half or more of what I earn and wasting it morons like you for votes or blowing up people in the middle east who are not attacking us maybe I would have some money to donate to the poor?
"Lack of education, lack of jobs, lack of qualified employees, lack of infrastructure (I'm amazed you think they'll create things that don't bring profit), lack of a middle class, lack of a new rich outside of the "old money", lack of new products and ideas, zero oversight (in other words, smoking would still be considered healthy), etc."
So we should steal money from the rich or else other people will have less stolen loot to spend on what they want.
Sort of like how it's your fault that you didn't have enough money on you for the mugger who stole your wallet to buy a fifth of Jack Daniels with your money, you greedy asshole. You need to go home and get more money for the mugger to steal!
"honestly how naive are you?"
You realize if I point out that taxation is immoral, you calling me "naive" doesn't mean I'm wrong. All it really tells anyone is that you don't like what I said.
"You think billionaires are going to be affected by what adds up to pocket change for them?"
It doesn't matter if it's a one dollar or a million. Stealing is wrong.
"And your reasoning for this is that Tom says "taxes don't really affect the mega rich" which somehow makes him suspicious because, what, the rich aren't suppsed to care about poor people? What's even your logic here?"
I've explained it twice. How slow are you?
Read my comments above again. I explained it in detail twice. You are being manipulated by Tom and it's working. You are defending him, free of charge I might add.
"And then instead of directly investing on the poor areas that actually have problems we're supposed to invest on Wal-Mart in the hopes that it'll help with education?"
How about just stop taking other people's money by force and let them decided for themselves where to invest their money?
"Here's some advice: actually listen to what you say."
That could be difficult seeing as how I'm not saying anything, I'm typing it.
"And by the way, it's the new firms that bring in the most cash regardless of their size."
uh-huh. And how many business do you own and/or manage....?
Hector
"Adorable, my point has been proven."
lol, yeah, it's much easier to *say* your point has been proven then to show actually was.
"Like i said, you believe they are entitled to own it all."
That isn't what I said. I said asked if they should own what they produce. What they produce isn't "all".
"Let's ignore the fact that none of what they accomplished would have been possible without the aid of those lowly middle class serfs."
And no one in the middle class would have a job without the rich. That's what's known as free-trade. it's reciprocal. But you don't know anything about economics or business so you don't know that.
"They're entitled to it. I mean, who cares that them owning the nations wealth leaves everyone in poverty."
Are you trolling me right now? You just keep mindlessly repeating this same fallacious idea that because the rich have money it means the poor don't.
How am I made poor by the fact that my neighbor down the street has 10 times the wealth I do?
If you can't answer that question by showing me how I'm made worse off by his success you freaking lose that point, buddy.
"No, please just ignore lobbyist."
Was lobbyist who you where talking about? How does that make sense?
"Heard of guaranteed payment?"
Yeah, you really don't understand economics or even something as simple as how loans work. There is no such thing as a guaranteed payment, particularly with something like a business loan. That's one of the reasons the banks change interest, is because they are taking a risk by loaning you money. There is always a chance you won't pay it back and the bank will be out that money.
Why in hell am I wasting time with someone who doesn't understand how loans work?
"...the bank doesn't give anything if you don't have the money to pay back..."
Again, that's not how loans work. They loan you money BECAUSE you don't have any or enough right now to pay for the thing you want. If I had money now that I could pay the bank back why would I take out a loan?
God, it's like you're fucking 5 years old.
"...or are you forgetting the housing crisis, you know when people who couldn't pay back didn't pay back?"
You mean housing loan the government forced banks to give to people who never had any chance of paying them back and so ordinarily the bank wouldn't loan to?
You're making part of my argument for me. That is one more reason the government shouldn't be involved in the economy.
"So apparentely 1% are the only ones who are supposed to have an education?"
Are the 1% the only one's who can or should pay for education?
How about you pay for your own god damned education? Maybe you would know more about economics and business if you didn't receive a shitty and incredibly overly expensive government education and instead someone taught you that stealing is wrong and that each of us is responsible for our own needs and wants.
Maybe if government wasn't stealing half of everyone's shit, you or your family could have afforded a better education for you?
"Nice job on failing to comprehend the difference between national wealth and a businesses wealth."
Nice job trying to shift the subject from how taxes effect business to the subject of different kinds of wealth and thinking you won while actually not addressing the point. Fucking moron....
National wealth is the varying amounts of wealth belonging to each individual who lives in a geographical area, which is referred to as a "nation". Businesses wealth is wealth belonging to a business and/or business owner specifically.
"You continue to fail to understand the difference between a nation and a business."
You failed to demonstrate that I don't understand the difference.
"Now tell me how that's possible when 1% of the population owns nearly everything?"
The 1% doesn't own nearly everything. They produce far more wealth that you or I but that doesn't mean they own things. What on Earth are you basing this on? Are you just pulling claims like these directly out of your ass?
"how am i supposed to sell something or make a business when I can't due to them owning it? or are they entitled to my business too?"
ffs....so if I create and own a business that means you can't also create and own a business? Are you fucking retarded?
This isn't a zero-sum game. There are not a finite number of businesses just laying around that the rich just happened to have found more of. You can get a few thousand dollars, maybe even less, together right now and go start a small business.
For example, some years ago my mom started a small, part time antique business just from the collection she had accrued over the years. That doesn't mean she took a small, part time antique business from someone else or prevented them from starting one, you moron.
And she didn't buy her business from some rich person because, "da rich own everything, derp".
ffs, technically a couple of kids staring a lemonade stand is an example of starting a small business.
You really, REALLY need to stop talking about economics and business. You have absolutely no idea what you're talking about.
"Congrats, you just discovered that they're not as poor as other people. They just can't open a business, get rid of debts, buy food, etc. it's almost like they're still poor regardless of where they are."
The point was "the poor" don't pay net taxes. How is this relevant?
Also, this is besides the point, but "the poor" are not always the same people. People move in and out of economic classes all the time. Sometimes people who start out poor do end up opening a business and become rich, sometimes rich business owners fail and become poor.
"hey did you know that still means nothing since they can still barely afford shelter? neveer mind pay for food."
(faceplam...) Most people considered poor are not homeless or staving in the USA. Very, very few are.
"Different countries have different levels of monetary value. So while you may be rich in somalia, you're still super poor in the USA."
Obviously, which that figure takes into account. "Rich" in Somalia often have it worse then "poor" in the USA, which was the point you clearly missed.
Again, if you make over 30K USD you are already in the 1% of wage earners worldwide. The per capita GDP of Somalia is the equivalent of 600 US dollars. Nearly half of their population lives on the equivalent of 1 US dollar per day or less (>$370 per year). That sort of shit is what actual poverty looks like. How many people living in the USA do you think this describes?
ffs, dude, do you know anything about anything? What do you do for a living? What is your field of study? We've already established it's not economics, business, or ethics (philosophy), so what is it? What are you good at?
"Really? and here i though you donating so much money to the poor was helping. Oh wait, you haven't done that. Because you're entitled to what you make."
No, I haven't done that because government takes over half of what I earn. Do you know how to read? I explained this already. I can't donate as much to the poor if fucking government takes it, understand?
"Wait you can help with taxes? no, that's stealing."
It is stealing. It doesn't matter what you do with the money after you steal it, if you use that stolen money to help someone or you blow some innocent kid up in the middle east. Stealing is wrong.
If i steal 100 bucks from you and I used a few dollars to guy some homeless guy a couple of big macs I don't suddenly become a moral hero. I'm still a thief.
"So we should allow crime to run rampant because paying taxes so the police can do their job is wrong?"
Private security. There are also private business that operate much like the police do for a fraction of the cost, with much quicker response time, and lower crime rates and they protect entire neighborhoods, each person pays a fee for their services. It's not unlike how the government does it they just don't force people to pay for it, which is my point.
Fundamentally, I don't care what you do, so long as you don't force people to do things they don't want to. Understand?
"Adorable, because there's worse people out there you justify ignoring the people here becasue "it's a choice"."
No. I never said that. I made the point that you are wealthy compared to most of the rest of the world and asked what you have done to help. Evidently the answer is you've done nothing to help, but you expect other people to.
"That guy sleeping in the street corner? Totally his fault."
He is responsible for his own life.
" Tell me, have you helped anyone like that?"
Yes. I could afford to help more if government wasn't stealing half of what I earn.
"...or have you refused to pay taxes?"
Well, I'm not talking to you from jail or the afterlife, so no, obviously I've never refused to pay taxes. And taxes don't really help people overall. Every dollar that goes into welfare harms someone and reduces economic productivity for everyone.
"No, it just tells me you don't really know how the world works."
Says the guy who knows nothing about economics or business. You don't even deny this.
"Taxes are theft until i get mugged..."
So, before government and taxation, none of those things existed?
Before taxes there was no one to protected people? No roads anywhere? No education?
You really need to wrap your mostly empty head around the fact that just because government does something doesn't mean only government can do something, should do something, or is doing it the best way it can be done.
"I don't know..."
So, you don't own/run any businesses, yet you want to lecture me about them.
Hector
lol, what an absurd thing to say in a long line of absurd things you've said. I pay for the services of my doctor too. Does that make me a doctor? You've probably paid for someone to fix your car at some point in your life. Does make you an automotive technician?
Just because you pay for something doesn't mean you are that thing.
I can't write laws. I can't tax/steal from people to pay for shit I think is a good idea. I can't throw people in jail for smoking an unpopular plant. I can't start/declare wars. I can't do any of the things governments do, obviously I'm not, nor like the, government.
Like I said, fundamentally, I don't care what you do, so long as you don't force people to do things they don't want to. Does that sound like the government to you?
"But I guess since you turned into the government you're aren't entitled to what you've produced."
That makes no sense. I'm not the government.
Government is a small minority of people who rule (initiate force against other people) over a geographical area of the Earth.
"So congrats on saying a man who can't take care of himself should just get up and take care of himself."
That isn't what I said. I didn't say he should or should't do anything, I said he is responsible for his own life. Him being homeless doesn't entitle him to other people's money. He has to convince people to help him voluntarily, and there are a lot of people who would, especially, for the hundredth time, if government wasn't stealing so much of their money.
"As for your private security, the non PC version is mercenaries. And they suck."
Nope, you're wrong yet again my friend:
czcams.com/video/z9TMI_oUfqY/video.html
"Check what they do in the middle east if you don't believe me."
The same middle east your (and other) government has turned into a war-torn hell hole. Not sure that chaotic mess is a rational apples to apples comparison to private security in a first world nation.
Never the less, my point stands, there are alternatives to government services like police. If you don't like private security what other ideas do you have that don't involve forcing people to pay for them?
"Especially since your unaware the housing crisis was controlled from getting worse thanks to bailouts by the government."
lol, so what you're saying is that government stupidity got us into the housing crisis and government stupidity got us out?
lmao, bravo, that's just brilliant, dude.
"But yeah, it is the government's fault."
That is the truth. Government regulates almost everything. Why don't you think they should ever have to take responsibility for the consequences to that?
"Because they didn't regulate the economy and just let the market do what it wanted, in this case, give out credit like it was on fire."
You're wrong about that too.
First of all, again, government forced the banks to give out credit in the form of home loans to people who had very little chance of ever paying it back. Government was responsible for the housing crisis.
Secondly, government regulates almost every aspect of the economy in some way. In fact, can you name one thing in the economy or elsewhere that isn't directly or indirectly affected by government regulation?
I didn't think so.
But somehow the housing crises was caused by a little crack of freedom getting into the market, somehow?
lol, yeah, bullshit, dude. One more thing you don't know anything about, government itself.
See? Not everyone is a horrible monster. A smart man like him gives me hope.
Correlation without causation, gotta love it
He ignores the fact that lower taxes make companies less likely to outsource their goods and services.
3 rich people giving 30% is better than one giving 75%.
This is a breath of fresh air. Thank you. I sent this link to Trumps Twitter account. I hope he watches it.
Completely right. These cuts only work in the short term by providing short economic gains investors will use to invest more, artificially strengthening the economy. But later comes cashing in on investments, stabilized growth, and workers only get the benefit of more jobs and more business, not more money, because the rich don't need to pay anyone more, they'd rather invest their new money. Unemployment is low, there's no need for this. What really grows an economy, proven over and over, is giving people more money to spend... So give tax cuts to the people. This trickle down trick always sells because people don't understand how investing really works.
It'd be great to pair Reich up with John Stossel for about an hour and work something out.
That's decent Mr. Steyer. Ty for video Robert 🙂
You have just described the Scandinavian economies.
Works well for them. Happy people, stable economies
I've been asking this since Reagan, "Who wants to be trickled on?"
Amen my friend! (Btw, is it just me, or does this guy sound exactly like Beto O'Rourke?)
I mean tax cuts don’t mater anyway billionaires are using tax avoidance anyway the only people that end up paying it are the middl class
Taxes are to be collected and spent proportionally (per the law). But they are ever more being spend un-proportionally (take money from one group to spend on another).
Money and the monetary system is a mean, not an end in itself. A system to foster the well-being of a community of people that uses that money, that share the same values and legal system.
I thought Paul Allen was the only decent Billionaire,I was wrong.
👏👏👏 at last, some one can see the real world, and what is really needed to be done for the people.
You speak about dividing the pie but what about making the pie bigger?
He is right. Money isn't going were it should and those that have it don't always share it. Those that do share are at least trying but things don't always work out great for them. That is just how it is.
Absolutely amazing video!