I don't give a shit what it looks like. I build my wealth regardless of if Bezo's makes $1 or $1 billion dollars, lmao. Either way it doesn't effect me at all.
@@EasyKiwi111 It maters not if you elect Trump or Biden or whatever, the oligarchy is not elected nor ousted trough elections. Revolt is not the answer ether the oligarchy will crush you. The only thing to do is to wait for some of the oligarchs to turn on the others and prepare for that inevitable day.
Yes…. ************ CHARTS ************ like this cause radicalization. Not “wealth inequality”. You’d have *zero* ideal about it unless the chart was pushed in front of your face. The chart/discussion is doing ***** all ***** of the damage. Not where wealth is.
@@Nonamelol. Now I'm no expert but I didn't think that politicians enshrine insurance company CEOs - we aren't shareholders, we got no say and have no cause to admire the guy.
@Colman, what capitalism are you talking about? Germany? The USA (not America) socialized the biggest debt in the history of the world, bailing out corrupt and inneficient companies since 2008, spending more money controlling and making up the economy that all the communist countries of the planet put toghether trough their history. And according to own US data, are the small businesses the ones that provide more jobs, not the big corporations. "...the state has no right to steal money from the rich (hardworking and benefit society)" may be you are confusing the 1% with the .0001%" of course the government has no right over hard earned money, but wealthy individuals doesn't even work, doesn't invest on job creations, they just lurk between easy lended money to prop up their own shares on big companies without any tangible good, and if they fail on their bets, there's good old Uncle Sam to socialize their loss among the rest. Really are even well educated people so blind?
The Finance Guy- Stock market videos My parents belong to the wealthy 20% percent, and there wealth increased with only 15% in those 6 years. I do not feel anyshame, as my parents worked very hard for their position.
Huschibaba The Golden Age of the 1950s/60s was bought by World War II, it's easy to have the highest wages and living standards when one is an economic hegemon because the rest of the world's economic capacity is destroyed and it has little choice but to buy one's exports.
Wackokicker Small businesses create most of the jobs because economies of scale lead to greater productivity and ultimately a cap on the number of employees needed.
Either the poor are never going to do a large scale rebelion and starve to death and then the rich would have to work for themselves or the poor are going to have to rebel until this system is no more.
@@liberator101 poor be poor cos choose it, cos its simple. Rich be poor cos gamble. Rich be rich cos use the brain. If you want to earn enough.. not even rich. Go work make money and then study. When u have a good diploma.. A GOOD ONE then you will have a fine job house food and a car. Its how healthy countries works
@Olli Koskiniemi Don't try to explain it to them. They are clueless. The "poor" he refers to are very wealthy by global standards. Let alone by the standards prior to free market economies and capitalism. These people don't understand the concept of allowing the money to flow into the most capable hands to generate additional wealth and how that helps all of humanity. They just want to steal what they don't have.
Good, there gonna live there best life at your expense cause they earned there 75,000$ an hour wage, and your an idiotic peasant that isn’t working hard enough, meanwhile what do a handful of these elites who are also pedophiles do with there free time 🤔 Stuff like this will be in the news, and then the next story is about how two white cops are being accused of police brutality against a black man and people are throwing riots outside the White House, people need to be throwing riots for a higher minimum wage and demanding the government is taking more from the super wealthy, and the pedophiles are jailed. People are just as irritating cause they don’t care.
@@gustavo042 It Isn't about envy, the problem is that a person imagines the welt as Money on his bank account, while the wealth of the rich people is in his corporation, which has his workers and his property, and if you think at a big corporation that make sense.
The scale is likely much, _much_ worse now than it was when this video was published. As prices rise, quality lowers, taxes evaded and economic problems ignored, the disparity keeps on growing larger and larger, along with the pockets of those at the top of the scale...
Unpopular Opinions A paper released this year by the Federal Reserve showed that the top 1% have around 30% of the wealth, whereas this video claimed that the top 1% had 40% of the wealth back then.
I would love to see this updated for 2022, and really it would be great if it were updated annually…to show how wealth distribution is improving or getting worse. I suspect it has gotten significantly worse since this was produced. It’s also amazing that so few Americans can’t unite to demand a more fair tax code to help address this issue, and to help improve their lives financially. Yet, they can unite around misguided anti-immigration policies that have little to nothing to do with their financial well being.
re-vo-lu-tion. period. If a good enough reform can be passed, sure, the reform path is easier and should not be dismissed. But I'm highly skeptical that with this current situation any progress can be made. Exert pressure!
Exactly, if you tax a millionaire 50% of their income they're are still rich. If you tax an average American 50% of their income they become dirt poor...The rich don't have to worry about grocery money, gas money, water, electricity bills, phone bills, tuition fees, student loan debt, medical bills, etc...that's all CHUMP CHANGE but for the average American, all that is called living paycheck to paycheck. In fact, 78% of Americans are living paycheck to paycheck. That's the American Dream ladies and gentlemen....reality.
@@Cod4Wii No, That is stupid B.S.. Socialism sucks. However, notice how they did not provide any solutions but said "we Dont HAAAAVE to go to socialism" (But we won't tell you anything other than it). Taxing the rich has a bunch of problems and is stupid, but I will start out slow. For instance, It is morally wrong to take from someone who has more than you because you have less. However, regardless of that, you seem to think only the rich rich will be taxed, however if you take everything they own they will simply end up leaving the country. Now, to keep this tax at the same level to force wealth redistribution, you end up having to tax people who make 200k a year, and then when they loose everything it moves down to 100k a year and so on. The rich already pay a MASSIVE amount in taxes for the United States. However, videos like this make it look like they are sleezeballs who dont pay anything. The rich don't have to worry about simply fees because they started a business and people bought it, thats capitalism. Maybe if democrats like Bill Clinton didn't give our industry away to china more americans would get payed more. However, the American standard of living as of now has IMPORVED over the last few decades and is continuing to improve. Compare that to socialist "Paradises" like Venezuela, Cuba, USSR, Etc. Point being, forced wealth redistribution is bad, socialism is worse. America would be much better off cutting trade deals with china so Mega Corporations dont just outsource manufacturing in other countries where slavery is allowed. Instead, everything would be American made, and Americans would have more jobs, and our economy would grow. In the end, taking from someone who has more because you have less is stupid, taking half of everything they have is even worse, and freaking stealing everything they have and giving it to others in socialism, that is just diabolical.
@@j775w8 This is not really about capitalism or socialism, it's about corruption. Many Europeans have free universal healthcare and free college, so why not do what they're doing? Norway, Finland, Sweden, France, Germany, Denmark, Spain, etc...all have 4 week paid vacations or more regardless of when they started and regardless of being part time or full time. In addition, they have healthcare for all, nearly free daycare, free tuition, months of paid maternal AND paternal leave. It's insane that the United States makes more money than the entire European Union combined, USA makes 21 trillion dollars GDP per year while EU makes only 18 trillion dollars per year GDP, and YET the USA still does NOT have these benefits. In fact, the United States is the ONLY 1st world country with NO free healthcare and NO free college. Hell even 3rd world countries have this RIGHT, because healthcare should be a RIGHT not a for profit privilege.
@@Thelongmanable Do you think tax money just disappears?! Regressive taxation makes people poor. Progressive taxation does the opposite, as long as the government invests in public services, which is kind of the whole point of government.
*_Ever wonder or even ponder why doesn't anyone at Harvard, Stanford or Yale ever study or debate a tax free society like Dubai or Monaco where average citizens are rich yet inflation DOESN'T EXIST!!!! BECAUSE ONE THEY ARE PAID MOSTLY THROUGH GOVERNMENT FUNDING AND TWO IT WOULD COMPLETELY DEVALUE THE ENTIRE ECONOMIC TEACHINGS OF THE NAZI AGENDA. AMERICA WAS NEVER FOUNDED ON TAXES AND WE SPENT FIRST 100 YEARS IN AMERICA TAX FREE!!! UNIVERSAL HEALTH CARE IS ONLY NEEDED WHEN YOU RAPE PEOPLE OF THERE MONEY THROUGH TAXES!!!!_*
@@shadowagent3 You have to pay the loans back for more than you borrowed. Also, the cost of living takes away the vast majority of salaries. The average person makes around a million in their lifetime but they aren't even close to being a millionaire by the time they die.
@@RyderSpearmann it has no effect on you except for the part where the only reason it doesn't is because it already had it's effect and is now just getting gradually worse
Why? This would not change anything. The fact is to reshape the entire distribution of wealth in this country would literally take a revolution, and the VAST majority of Americans (95+ percent) enjoy far to high a quality of life to want to go down a path that involves violence, war, starvation, non existent supply chains ect to have a very small chance of making a difference, a good chance of returning to the status quo once its done, and a great chance to ruin everything for everyone and make everyone worse off. This problem with focusing on wealth distribution is its not like the low class in America are starving. They objectively have a quality of life better than most people in the world. There are issues, yes, but focusing solely on wealth distribution is stupid. Quality of life, number above and below the ABSOLUTE poverty (Not relative poverty, which is a measure of income disparity, nor actual poverty) are far more important to understanding the state of a country. All of that is to say that a poor persons life in America is not so bad that even if this was common knowledge they would do anything meaningful. They will (some of them, at least) continue to vote, but that really wont chance anything with how the system is currently. The average person cares far more about feeding themselves and their families and keeping them safe than social issues which require very drastic measures to change. Its the reason that dictatorships last so long and even continue today (Saudi Arabia is essentially a dictatorship, yet the people tolerate it because their quality of life is high enough they look past that fact. If the King suddenly started doing a bad job, economy collapses and people starve, he would be ousted very quickly.) So even if the media played this everyday, nothing would change. No body would do anything different than they do now.
Valdemar Hoejlund what? You don’t think the Interwebs is like the free market of ideas, where people can only enrich themselves by thoughtfully exchanging well researched and balanced opinions?
@@move2003ny This comment has to be an attempt at humor. Anonymous posts are almost never thoughtful, researched or balanced. Put some skin the game with your identity.
Welp considering the central banking cartel 'the Fed' has been pumping 80-100 BILLION per night into the banking system since September (1st it was just temporary, then till the end of October, then till the end of November, then 'till April' now ? And they no longer have to do this just 'overnight' - now they can delay it for weeks - and of course pull MORE out to buy back their (toxic) collateral when the first loan comes due. Funny - how much they have to pay when desperate for money overnight... 1.75% interest on the billions, and how much does the average working stiff pay if they have to borrow on their credit card from those same banks, or have to get a payday loan? Wouldn't it be nice if the central banking cartel let US borrow from them at 1.75% interest? Anyhow the "overnight" repo market has gotten worse of course - the central banking cartel's balance sheet has added almost a trillion bucks since September (and no doubt they've printed a whole lot more than that - that they are not counting on their books. They are buying gold in record #s, almost every central bank around the world has been buying gold buy the 100s of tons the past few years... they know what's coming... sadly most Americans are being too distracted by the extremely horrible actors on CNN/ and FOX (do they not realize both sides are owned/controlled by the same group of elites? and some of them on both sides are PART of that elite!!! Just look at the Bush/Clinton Nafta 'arrangement' - where Clinton didn't even want to ask the Mexican leader, who was desparate for the deal, to have any sort of labor or environmental standards! Sorry I am starting to rant. If anyone is reading this a decade later - if this virus thing doesn't excellerate the timeline - you likely have less than a year to stock up on all the things you'll be needing anyhow, as well as buy some items for trade/barter and possibly some gold - before all this massive $$ printing ends up making your purchasing power on the $ you have worth 30-40% of what it will buy now (if the $ is even worth anything then...) Your bank account be - you are now a creditor - the money you put in the bank was as a loan (google it!) These polticians and bankers are sick f's.
@trueman mann Work is half the equation, the other half is being a little smart. The formula: A little smart and a lot of work NEVER fails. It worked for me (I came from a poor family) and it works for my granddaughter. The fact is we are a nation of financial idiots, half live hand to mouth and many with 6 digit incomes. Invest in yourself, read a book, study success, talk to people doing well, take a class, start a part-time business and if that sounds like work IT IS. Who is holding you back?
Rent has gone up almost 300% for a single room compared to 2009, wages are nearly the same as they were back then, Airbnb was a factor, banks, and Wallstreet/investors and shareholders. I don't care what your political association is, things have gotten so far out of control, we need regulation, and we really need fix this country. Like if you're watching in 2023 & think the same.
It's the regulation that has artificially kept housing prices up and decreased overall competition. We need to end all this overbearing and corrupt legislation only benefiting the companies that have chosen to corrupt the state and abuse its power. image if the Airline industry hadn't been deregulated, flying would've probably still been a luxury with only a handful of competing companies.
@@br4inpl4zma82 You’re the type to complain about reduced leg space on planes while simultaneously not being willing to spend a single dollar more for more leg space.
@@8is im the type to realize that using PLANES, the AIRLINE INDUSTRY, as an analogy for a HUMAN NEED is a shit-brained way to articulate any solutions or model any problems. they’re two different kinds of good, idiot. you failed economics.
@@8is I know you. You're the guy who thinks fascists were basically communists. I'm sorry but taking you seriously is hard. What made air travel safer than any kind of transport was government regulating it heavily and not taking any chances after private sector kept crashing planes. Also airlines can't make a profit, they survive with federal subsidies so your well thought "free market" would just make airlines disappear.
Maybe because the ultra rich are also the biggest employers. That tax affects them too in the end. And at some point, for those ultra rich, it isn’t about the money but rather the growth of the company. And that keeps everyone happy including employees. Everyone thinks owners and CEO’s are all play, when a lot of them live lonely lives, have stress fat around their belly’s, heart problems and losing their hair. They have great events, but they are working all the time and are under constantly judged under the social media spotlight. It’s not all fun and games. The same people who you claim defend them, aren’t for spending other peoples money. And are more focused on how our tax dollars are spent. Where the money is spent or sent. We all hate more taxes. For anyone. Especially, if it seems to be making our current public servants richer every year. They don’t want to tax the rich. They just want the system to be fair so we can all have the ability to get rich. A simple google search on who got insanely rich while in office is my list of “never vote for those guys.”
Taxing the rich won't do what you want it to. The rich can shuffle around their assets to evade taxes, reinvest all of their money into their businesses, and take out loans against their own insurance to evade taxes. The real issue is the lack of fair competition. Every time a new business tries to enter the system to level the status quo, they get locked in red tape for licensing requirements, lawsuits from stretching the concept of patents to all of a sudden include their product, etc. That's not even to mention how parasitic the federal government has become. Before prohibition and the world wars, the major source of funding for the federal government was just alcohol sales tax. Then prohibition prevented that, they introduced the income tax (and got people to vote in favor of it by claiming "its totally optional"), they started creating all sorts of alphabet agencies that go far and beyond the governments allowances via the constitution, etc. The whole system is fucked
A quick 2020 update: The median American household's net worth now: $97 000 USD The median American household's net worth if we lived in the "ideal" society pictured in the graphs of this video: $726 000 USD
@@chriskendall1619 hmmm, no he stated that the top tax rate would be 52%, along with subsidized Health Care, Education and Better Infrastructure. He would've, at least, decreased wealth inequality in this country in my and many other people's opinions.
@@chriskendall1619 No he was very clear about it that he didn't want that first graph, he wanted a system similar to europe, not socialist, not capitalist but something healthy in between. His "extreme left" views are considered centre views here in europe. Unfortunately people wrote him of as a crazy communist without knowing what it actually is.
Wealth inequality is like mountains growing when plates collide; the plates must slow down by nature, the mountains stop growing, and all the while erosion is spreading that new land across the continent so the peaks are less and less towering while the plains and delta rise above the water. We had super wealthy rail and oil moguls early in the last century but the extreme profitability of those ventures spread out rapidly and funded extraordinary growth across the economies of the world, so now there are millions of very wealthy oil tycoons but there's nearly no one new who becomes a multi-billionaire by innovating in the oil industry these days; it's high hills like the Appalachians. More recent were the tech and globalization mountains, but you can't just invent another Walmart, Amazon, Google, or Facebook anymore. Now that those markets have been created, the early benefactors (Waltons, Bezos, etc.) will be the only vastly rich people created by those markets. While the market keeps growing unless something stupid happens (i.e Communism) everyone else who enters that market takes a lesser slice of the remaining total, so no new multi-billionaires are likely to pop up unless a whole new market arrives. Since we're relatively close in time to the creation of so many revolutionary markets the inequality as a simple equation (wealth divided by number of people) is really major right now. But these original business owners benefitting from recent revolutions are still young and the wealth hasn't been divided yet. In 100 years will Jeff Bezos still own that many billions? No, he'll be dead probably, and even if his estate keeps growing that will be by investing in (letting others use) his wealth, and the number of people and non-profits living on that estate will far exceed 1 individual, so rapidly as you divide even $300-Billion among 10, 100 people; minus management fees, minus lawyer fees, minus annual taxes, minus the 90% that remains in stocks and is not withdrawn as a dividend each year: now there's only about 5% of that estate. Spread among 100 trust fund descendants and we're already down to $150 million each within probably this century or less. It spreads out fast. So, the issue with wealth inequality is like the issue with fat in your diet. Is it bad? Maybe, it depends; fat alone is not enough information to tell. Does your country have wealth inequality because some wealthy dictator is hoarding everything by force among his cronies? Or does your country have wealth inequality because it has just experienced the greatest leap in technology ever seen in human history, some people have been extraordinarily blessed to be involved in that leap, and the rest of us and across the globe will be enjoying the results as it spreads. Thank you Google for keeping TH-cam running, for instance, sharing Google's wealth with us although it will likely never be a profitable venture. I have no problem with wealth inequality. Injustice is actually easy to recognize; you don't need to statistically analyze people's income and current savings to find it. Did Walmart steal my money? No. Did Amazon steal my money? No. Then have I been treated unjustly by them? Probably not.
Only because some have chosen not to be in the club. People made decisions in their life that have put them where they are today. Tomorrow they can make a decision and change their financial position. Americans live in a country that has no ceiling on how much you can earn no matter where you begin your life. Most Americans don't understand the opportunities they are afforded in their own country. They have been brainwashed into going to school and getting a "good" job. Then they wonder why even though they are doing ok the wealthier did better. Then the solution is always take from the wealthiest to give to the poor. What evidence do we have that giving someone else's money to someone led to wealth creation?
ParabellumRacing You are the reason that the billionaires keep on laughing. You keep them in the position that they are in based on your naive outlook on life. You will never be part of the 1%. Now matter how hard you try.
@@ParabellumRacing They've been brainwashed, so other people can exploit them. Why else would they be brainwashed? Are they brainwashed for no reason, or is it to benefit someone else?
@@ParabellumRacing "Americans live in a country that has no ceiling on how much you can earn no matter where you begin your life. Most Americans don't understand the opportunities they are afforded in their own country." It's just a pity we are not all born equal or have equal opportunities. And to think that is not so, is very naive. I obviously don't know how many countries you have lived in or worked but to be fair, most countries believe, to a degree, that you can achieve anything you want if you work hard enough. It's never been something that only happens in America. Although it is apparent that Americans believe their country is the only place on earth that you are free, and that you, despite your heritage, can achieve anything. But one thing differs in all other countries. The others all know that it's BS. In contrast, Americans think it's written in their constitution.
Yeah my cousin is like a doctor and she told me that she isnt making enough. SHe said she makes alot of money and her income is considered really good!!! but she said she feels poor everyday.
@@chili_boi2537 obviously It wasnt like this for doctors or lawyers before :) and you can pay it off easily afterschool now its like you can spend an entire life and you cannot pay it off. Thats why its soo funny I laught at the land of Murica. Even as a Doctor you can make really good money :) I met doctors that told me how they were making bank money out of school and they were telling me how it was amazing because they have a schedule and could go on vacation often and anytime and student debt was like nothing to them (not like other major in the field) Anyone of middle class make shit money now like they are poor, and doctors and lawyers used to be considered well off like you can easily rack up 2-3 times the money of a regular person ;) Its not just student debt, you are just dumb
Jay P if you become a psychologist (mainly a clinician who is a therapist) I can guarantee that it’s much different than the average doctor. They can’t take vacations whenever they want (you can’t just leave clients in the dust) and it’s hard to pay off debt.
So many people... I just don't think people understand the difference between a millionaire with 2 million dollars or something and a person with literally 100x that and more... Even that figure is nothing compared to billionaires.
Personally, I’m not even sure _how_ you would comprehend this. I don’t mind having incredibly wealthy millionaires or billionaires in the us, but I do think that the lower 40-60% as shown as the “reality” is astonishing
@@YouViolatedTheNAP so why does the bible say: "and those who will deceive others with usury and the system of interest will be exterminated by god"? God won't forgive your sins on judgement day... never forget that.. but you can repent your sins and trust in jesus
Showed this to my high school students today. Best moment: A student who has expressed hypercapitalist and individualist tendencies had an epiphany: _"The top 1% couldn't have earned their money because it's literally impossible to be that productive."_
I’ll be showing this in my class as well. Make sure you correct the socialist comment- socialism doesn’t mean equal wages. If I could edit that line out of the video, the video would be perfect, albeit outdated unfortunately
+Evan Wright If you think the answer is adding another 18 trillion in debt I have some beach front property in Arizona to sell to you. Taxing all the money from the rich won't achieve Sanders pipe dreams.
My 8th grade teacher showed our class this video. At the time, I was a kid who was caught in the fairytale web of meritocracy: I felt brilliant, special, and I was beguiled into thinking I would one day become a millionaire (or even billionaire) if I stick to working hard. This all seemed real to me because I was a ‘bright’ kid. In high school the truth started to peek through. When I started to think about college, I realized that my school didn’t offer enough APs for students because of our district. We were lower budget or something, and had a pretty low graduation rate compared to the richer area’s schools. I realized that even more in college. When I was working so much more than my rich friends, just to get by, and that I would fail classes if I did the things my friends did. I am thankful for that teacher, even though I didn’t fully get it at the time.
@@oddfox6776 I’ll be honest, no. But I feel that I know myself and my goals much more now, and I am working toward a ‘less compromised’ life. Sometimes it feels like the water is reaching my neck though, and I am just happy to stay afloat. Ah, well. I hope to check back in 5 years or so and be where I wish to be. At least somewhat.
luvcheney1 Not only is your attitude insulting, but you have the grammar (Daddie's vs Daddy's) of a third grader, as well. Should we even pay attention to your postulate given the glaring holes in your grasp of economic reality? By the time you realize that you need to reeducate yourself, the opportunity to do so in this country will be gone, and it's "idiot's" like you, who have voted all along for this type of status quo, who get just exactly what you deserve.
I all state was something from my past and let a scared child you spew hate and isult so there's no credibility in you as far as I'm concerned. Go adjust your tinfoil.
Skooter McGoo The argument is true but not in the way your grandfather thought, since there are many non working males from lower income households receiving government benefits at the expense of people who work and pay higher taxes.
That depends by what you mean by a dollar that wasn't earned. I dont believe those exist. You dont just hand somebody money. If anything the poor are getting money they did not earn in the form of welfare. They are getting money because they are useless or barely useful on the big picture. Anybody that says jeff bezos did not earn his money is an absolute idiot. He serves much more people than a fast food worker in the form of his own company that he created and invested in over the last decades. That company does the most work out of any company on the planet which is why it generates so much income. He has earned every penny it makes even if he does not actively do anything by setting up the system that makes it convenient for others to buy stuff online and get it shipped to their doors all across the planet. You cannot say that he did not earn the money.
People are so uneducated. Wealth itself means almost nothing. The thing that actually matters a lot is resources. In terms of resources the top 20% only use about 30% of the resources. That means things, places, food, and pretty much everything else. So how did it get worse? We have more products, better products, and more resources than we did back then and the average quality of life is higher than it was back then. I can’t believe I even have to explain this... is everyone 5 years old? When money is sitting in the bank that means the value of each dollar outside that bank goes up because the entire value of money is based on the resources you can get with it. Once again... is everyone 5 years old?
I'm just wondering how bad people are at math that they think the top 20% should have less than double the wealth of the bottom 20% who are basically perpetually broke and indebted losers with negative net worths. Is the ideal America really one where we're all broke and stupid?
I've used this in my courses for years. Would love a 2020/2021 update video since it has gotten so much worse :( I just tell my students: "you think this was bad? Oh, it is so much worse now."
Don't brainwash your kids, wealth inequality isn't a major issue in this country when you realize that the bottom 30% of Americans are top 1% earners when compared to the rest of the world. Our not so regulated economy has produced the wealthiest nation in human history. The poorest Americans have an obesity rate similar to the rest of the nation. I've traveled to nations with wealth distribution programs, and most don't have the luxury of having the varied diet that even the poorest Americans enjoy.
Guys, the top one percent had 24% of the wealth in 2012. Now it's up to 31% after Covid. 9 year difference. That one percent is just going to keep hoarding and doubling their wealth. Support small businesses and stop politicians from giving the wealthy tax cuts. I don't think a maximum wage would be too bad either. Don't feel bad for billionaires.
I don't feel bad for billionaires, no reason to. But, I'm thankful for many billionaires because they have provided me with a product that I have purchased with my hard earned money. It was a mutual agreement- he had a product I wanted, so without any coercion I gave my money to him in exchange for the product. A consensual agreement between us. If you don't like the billionaires don't buy their shit; then you'll show em . Do you expect their products for free?
@@gasoven3759 Why would you think anyone expects their the product for free. The problem is not them creating the company and products it’s them taking more than there share. Without their employees they would be nothing. No one can work and contribute enough to society to be a billionaire. They are under paying and overworking their workers. Amazon for example. Bezos wouldn’t have to work at all and he makes an unimaginable amount of money everyday. More money than anyone could spend normally. People see amazons prices as a good trade for the product and the service. A logical person should expect that that money is fairly given to the hard workers responsible for the fast shipping times. The most successful companies and billionaires aren’t successful if their employees can’t live comfortably (basic necessities, not paycheck to paycheck). That’s cheating your way into being “successful”. That’s stealing your employees wages. No one deserves billions of dollars.
The top 1% didn't become rich because of their wage. It is mostly capital gain. They pay other people to work for them. Stop blaming them, blame the politicians who spend our tax dollar like it is paper.
@@katrina_wolf If you created the plan. Was responsible for the risk. Employed people at an agreed upon wage (not forcing someone at gunpoint to work) then I say yes they do deserve billions, because they earned it. Most (almost sll) their earnings are compounded growth from the stock market. Everyone who invests are worth more, some more than others. The constitution and the declaration doesn't ban someone from being a billionaire, nor does it say everyone will be equal in all things. We are entitled to life, liberty and the pursuit of happiness.
@@gasoven3759 the thing is, I don’t think they deserve billions. Millions is ok but every years the top 1% gains more and more wealth in comparison to the rest of the country. A functioning capitalistic society cannot work if we keep going in that direction. It doesn’t matter what you think they deserve
Who wants to argue about wealth inequality in the comment section of this TH-cam video? I sure do. I’m going to oversimplify my generally uninformed beliefs into 2-4 short sentences and start an argument with anyone who disagrees with me. This should be great fun!
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I better add some large words so that you will be forced to look it up and therefore declare my veracity and intellect. You are an addlepated inebriate you proletarian Bohemian. I clearly know what I'm talking about with a name like "Captain Munch". Btw, I won't leave this thread unless if I have the last word.
John Sandoval I fight you, you fight me, let’s have a verbal argument on the count of 1, 2, 3. With a curse and a cuss and an uniformed thrust, I’m going to shame you just wait and see
Socialism is not communism. This video was way off on that. Socialism implies that workers get a say and hold significant stock in the company they work for as to prevent extreme inequality. The incentive to try and make money still exists.
+luvcheney1 Black listing of products is why Tesla doesn't sale! AutoMafia Dealer ship union keeps them from even entering most states. No evidence of a neo nazi cartel controlled society.
+luvcheney1 Right. Governments should not regulate business. I agree with you on that. Intervention is oppressive in this case and we are against oppression, right? Free markets. Sounds quite free. But, what about the intervention of employers and managers in companies then? They are as oppressive as a monarch. In fact, it wouldn't be wrong to say that conventional companies are structured just like monarchies. Underlings (in this keys, they are all of the blue collar workers and most of the white collar workers) don't have a say. Hence you are against the intervention of government so that the wealthy can exploit easier :) Like unleashed rabid dogs... I am against any kind of exploitation. When there is hierarchy, there is exploitation too. Hierarchy consists of superiors and underlings, authorities and submissive subjects (actually a subject in this case is being degraded to being an object). Fine, state shouldn't be an authority over companies, employers, entrepreneurs. But they shouldn't be an authority over their workers too ;) Guess how would that be possible? Democracy in companies? Vanishing high-level titles and classes in a society? More freedom and equality? Being against the oppression and intervention of the states (and maybe their very existence) is quite noble, but whining about regulations one sided seems quite ridiculous.
+luvcheney1 what if the all employers came together and decide to pay low wages for all their workers , then you can't choose to work where it's better , because their is no better place in the first place, is that fair ? should the government intervene ? ps : i invite you to research Airlines, ISP , Banks Cartels
I am in the top 1% - and even I can see that this just wont work in the long run. A wealthy person who make $10 mill a year still only buy 4-5 pairs of jeans, 8 movie tickets and goes to the restaurant once a week. For the wheels to keep spinning the wealthy person would have to buy tens of thousands of pairs of jeans and movie tickets. If I dont pay a decent salary to my staff, how would they ever be able to afford the products my company produce? A high minimum wage means that the big business machine keeps spinning. And giving tax cuts to us rich people? Why?? We already have 100 times more money than we can ever spend, so why would you want to give us tax cuts??? That makes absolutely no sense at all. If I make $1 mill and pay 50% taxes - I still have $500,000 and that's still enough for a Ferrari, a mansion and 3 months of vacations a year. So why would anyone in their right minds give tax breaks to the rich??
I know you've been asked this , how do you get there? I am honestly wanting to elevate myself for personal reasons and I have no idea how to break through the barrier.
What this chart tells us is that America is NOT the land of the free. It's the land of the Uber Wealthy and maybe a heavily in debt middle class and a very, very large Poverty Class. What America has become is similar to Medieval/Feudal Europe. A time back when most of the wealth was valued in Land and the Crops that land generated and could be stored and turned into food and the excess sold. That period had a Class of Wealthy called Royalty and their claim to the land was typically hereditary and multi-generational. The First Born Male child would essentially become the New Land Owner or Landed Gentry or Land Baron upon the death of his father. The entire estate would be transferred to him. And younger brothers would occupy lesser positions or titles in that Landed Barony and would be vassals to their eldest brother and then that brother's eldest son. They would receive a security, an income and a residence or a place in the main "Castle" or central residence, but they did not control it. Their functions would be some level of support or service to their eldest brother, perhaps in charge of the Men of Arms, or Tax Collection, or maybe head of the Merchant or Trade Guild. They would be trained in those skills needed. Weaponry and fighting and tactics, or tax collection would require math and language to calculate the amount of tax a peasant would share with the Lord, and record that in the Barony Ledger for "legal" proof of tax payment, or they would learn that Trade or Skill in manufacture of some key products like metallurgy for all sorts of implements, weapons and structural devices. The bottom and most numerous would be the Peasant or Serf, essentially the people tied to the land, as farmers or millers or dairy men or perhaps hunters and basic infantry or fighters in the Men of Arms. If skilled, Men of Arms would enjoy a higher rank than the infantry and the peasantry. See? Are we not replicating the Feudal System all over again? OR perhaps some elements of an Oligarchy? Democracy is hardly our true type of government and economic institution. And we are far, far removed from any egalitarian Socialism. We are living in a Modern Feudal State or modified Oligarchy.
I wonder what is the condition In my country INDIA Most money is in the pockets of the government officials My grand dad was beaten to death just because he didn't sign a paper as a proof that a construction was completed which was not. The person incharge kept the money created false documents and got everyone to sign on it My grand dad refused to do so And hence met with that fate
I've seen this video many times over the years. I've seen in a lot of my classes and in my own free time. No matter how many times I come back I am still amazed at the reality of country. This should be in everyone's recommended feed instead of random useless videos from 9 years ago
That's why Republicans started "Trickle down", to speed up the transfer of wealth from the workers to the 1%. Forty years ago, and it has been working very, very well. But what do they focus on? Immigrants and drag shows, anything but the wealthy robbing The People blind and the fact that the wealthy barely pay any taxes as a percentage of their incomes.
Numbers in a bank roll somewhere, virtually meaningless. It's not like Bezos is free to spend all $300 billion or whatever, he is merely the chief responsible individual for a large estate.
@@brettcarter5142 Money is not meaningless, but definitely exaggerated. Its not just mathematics; $100 billion is not simply 1-million times more buying power than $100,000 because by the time anyone gets close to $100 billion they will have developed their own unique infrastructures. Like Escobar was not just 1 man, he was the kingpin of a drug empire, Bezos is not just 1 man either.
Gorky D I don’t understand your logic, “they will have developed their own unique infrastructures” so their money’s buying power is somehow different? 100 billion is simply 1 million times more buying power than 100,000 to put it in your terms. Buying power doesn’t go down or start to get weird value as wealth goes up
I remember 4 years ago, I lost my low cost health insurance because I got married. I was forced to pay 20% of my income toward my health insurance. Meanwhile the CEO of UPMC ( the company that I was paying insurance to) was making more in one year than what I would make in over 300 years at my income at the time. Something was terribly wrong with that !
To play the devils advocate for a moment, what if that CEO caused multi billion dollar increase in profits by his unique management style? How much would you pay for him. Thats the reality of the situation, even if the figures are mind boggling. Supply and Demand my friend. Thats what runs the world. Top CEO's are few are far between, and thats why everyone wants them. I doubt anyone could do what Elon has done for both Tesla and SpaceX. And naturally, with him owning a large share of the company, his net worth has exploded. It's tough to draw, enact and generate support for legislature that can bring the Gini Coefficient down, and "solve" the problem. How do you tax someone like Elon? He doesn't spend money. He doesn't get income, and he doesn't buy and sell monetary assets. He himself suggests a high consumption tax for billionaires, but thats unlikely to happen anytime soon. When he bought Twitter, and had to sell Tesla shares, consequently paying ~$11B in capital gains tax. Loopholes to go around this just need to be closed, but its probably not as simple as that.
People say that we need to work harder and educate ourselves financially. I agree with that statement. When you’re working a minimum wage job it’s hard to focus on that sometimes when you’re struggling to get by. Of course you should try to educate yourself but not everyone has that opportunity. People are working 40 hours a week and not even making enough to get by. The fact is in the 1970s a person with a high school education could get a job that pays enough to buy a home and support their family. Now, that’s not as realistic as it was back then. The middle class should be the largest group in the country and the strongest and it’s simply not. The wealth inequality right now is similar to what it was right before the Great Depression.
Absolutely agree. And: forget about educating yourself when you are continuously thinking about what your next bill is paid with. Studying must be as affordable as possible and not some money machine. As a young person, how do these people think they can afford to let young people study? They have no money, they are just barely starting with their lifes, for gods sake... And when they are finished they are several tens or hundreds of thousand of dollars in debt? Yeah, the American dream... More like a nightmare, if you ask me.
@@ferrari2k then get a higher paying job than minimum wage. There are plenty of low skill jobs that pay higher than minimum wage (like $15/hour.) You can then start investing from there.
I grew up as part of that 25% we had no money in savings yet mom could always find the cash to take us on trips to give us "good memories of our childhood". All I remember from my childhood was having to eat Hamburger Helper without any meat in it because we were out of food at the end of the month.
@@redtsun67 I just don't get why Americans can't realize that the inherent problem is capitalism, and it has always been a problem for the United States. It connects to almost every single problem, ranging from housing, to labor violations, to economic inequality, unfair taxation, the list really goes on. The thing people fail to realize is that you can have a democracy while also having a socialist/communist economic system. It would fix so much, and people who have lived in, are living in, and will live in your childhood's circumstances would have a much better life.
@@verifiede4125 You think capitalism is the problem because you've never once picked up a book on economics. My childhood was the way it was not because of capitalism, but because my mother could not manage her money properly. The money that could have been spent on food, or saved for an emergency, was instead spent on crap we didn't need. Vacations to the beach, expensive birthday parties, ordering takeout, or maxing out the credit cards to buy christmas presents. All the money she spent on that crap could have been put into a saving's account, or put towards bills.
@@redtsun67 Ah yes, the "well the poor just need to spend money better" argument. Not only is this a morally reprehensible argument, but it's also very ignorant and serves only as an excuse and a scapegoat that holds no basis in reality. You very clearly do not live in any disadvantaged positioning, because otherwise you would realize the inherent problems with capitalism. Capitalism is designed so that the wealthy are happy, the middle class is somewhat happy but becoming lower class, and the lower class is unhappy and suffering. Tell me, under socialism where food, housing, water, education, and healthcare is all free, would your mother have to worry about spending that money on those things that should be considered human rights? With a UBI in place, would your mother have to worry about quite literally anything at all when it comes to financial struggle? The answer to both of these questions is a flat no, but you're going to disagree because "well socialism never works!" If socialism never worked, the United States wouldn't have tried so god damn hard to suppress it's upbringing in other countries. If it's bound to die naturally, then why not let it die naturally? Capitalism. Is. The. Problem. Period.
@@fiddlyphuk6414 Riiiiight because wealth inequality is lesser in Russia. Let me guess, your advice to slaves would be “go to Canada or better yet, Mexico” instead of staying to fight for the betterment of their country?
@@wildfire9280 There's no place better to be than the USA. Just ask all the illegals leaving their shit countries and crashing our southern border to be here. We got rid of slavery years ago. Try and keep up here.
It should have been pointed towards true enemies, but you'd be labelled as "domestic terrorist" and no one wants that label. That label means death to you and everyone you ever loved.
Well why the fuck did you join the military? No country ever cared for their veterans including those from world wars 1 and 2. Even when I was a young teenager it was obvious that joining the military was a bad deal and I'd only be selling my health to fight for the fascists in Washington. Don't blame wealth distribution on your stupid decisions.
Here I am watching this video thinking “how did we let it get to this point?” Then I looked at the comments and remembered what humans are actually like
Fucking idiots the ones that are advocating that the poor are just dumb(which could've been a reasonable argument in the 50s, but calling out for that today) those are some of America's biggest retards
Would love to see an updated version. I believe the 'what people think' version would be closer to reality than before and further from the ideal version.
@@edubbya Really? A factual statement backed by nothing but a depressingly defficient attempt at name calling? I will remind you that IQ has nothing to do with what I presently know, just what I can learn. That fact, by your own logic, would give you a less than average IQ. Pursuit of Happiness/Ownership of Property is the third inalienable human right, _after_ the rights to life and liberty. If your pursuit of happiness causes someone to suffer, you are violating their rights. For this reason, "it's the only thing holding back inflation" would not be a reasonable excuse to hoard wealth and cause suffering, even if it was actually true. Economy can never come before human well-being. You ought to be ashamed for even bringing that up as a point. If you genuinely believe that hoarding wealth is justified by slowing inflation, you might want to check your own _EQ_.
@UsualVinity I'd have a hard time believing anyone "deserves" multiple times more than they could spend if they tried. I'm sure you could convince me a revolutionary man is worth at least 100 million. But 170 BILLION? It's somewhat impossible to rationalize anyone deserves that.
UsualVinity why are so many of you guys so brainwashed into defending the wealth inequality in America? Do you think Bezos is going to write you a cheque for your little speech? Think again
@UsualVinity worked hard? You mean exploiting workers? Amazon workers are payed and treated like shit with his money he could at least time them better facilities and pay all of them even a little more than minimum wage
You people are delusional. It's not a matter of 'Deserving' anything. It's a matter of 'Risk & Reward' and keeping what you 'Earned'. This is how the world works. 90% of the things that you use every single day would NOT exist if it weren't for that concept because people wouldn't be incentivized to get up, work and invent things throughout the course of history. If this man was creating and developing a company across multiple decades and now it has finally blossomed garnering him billions of dollars because of all of the hard work and dedication that he has put into it then he should get every single penny that comes out of it. And the same goes for any other rich and successful people who are now eating the fruits of their labor. You guys need to stop with this whole notion that you should be getting handouts from the rich just because you may feel bitter about not having what they have. How about you get up, create a plan and you yourself try to become the next Jeff Bezos!
I remember seeing this in 2014 and being amazed. I was surprised to see it now in my Recommendations, and apparently not only mines. This calls for an UPDATED VIDEO! Curious just how much that inequality modified over the past 8 years.
It got much worse. The FED bailed out the rich and added debt to the general public to do so. You were robbed twice in 2020 along with the 40 year cycle of capital crushing labor's share of GDP.
It's only gotten worse as you might imagine. A long shot from the worst it's been but worse than it was in 2012. Going by the 1% metric it's now closer to 45% (at least above 40%) of the wealth instead of just below 40%. If the trend continues we'll be where the robber barons of the late 1800s were in about 20 years. Jeff Bezos's net worth is pocket change compared to folks like Andrew Carnegie. Overall, the bottom 80% income has either remain static or actually decreased in the past 8 years. That's a big oof. Imagine being a janitor for your entire career and end up making less money at the end than you did at the beginning. Ouch. Only the top 20% have seen increases to their incomes. Now here's the important question. How exactly do you go about fixing this growing divide as nothing the top 20% did is inherently wrong or illegal? Tax the crap out of them? That has proven to only work in the short term. I honestly don't have any good solutions.
@@LiveType Rockefeller inflation adjusted was worth $400 billion plus. But don't worry, right wing loons will keep voting for policies which ensure Bezos soon gets there. Ugh
This is why the top 1% can afford to give away so much money "for a good cause" because in reality they only give away maybe a few of their green squares, but those few green squares are literally life-changing to someone in the bottom 50%, who only have a few green squares to begin with, if any at all.
Even that is often a marketing strategy that ultimately nets some parent company a profit by advertising their values. Don't be mistaken by modern day philanthropy.
I do and I do not understand the meaning of working hard. Do you mean, leaving home almost every morning at 6 am and come back at 6 pm and because of "hard", this means tired, then just keep sleeping on weekends? Finally, what life is that? We should work to live not live to work.
@I. S it doesnt have to be that way. we can work together to create a better world. I dont understand how you can look upon the world and say "you deserve this suffering"
@I. S no one disagreed with that? thats the problem that we are trying to solve i dont get ur point. i think you misunderstood what they were saying, they werent saying that its our fault we live to work, but that we should change the system
This is capitalism. While the aristocracy benefit from our labour and keep getting richer it is us who are dehumanised and left with the crumbs day by day. Democrat or republican they both are only fulfilling the dream of the bourgeoisie which is to extract and imperialise this planet into nothing. I hope u open your eyes comrade
I'd really like to see an updated version of this because I know it's gotten worse. I think the lower 40% need to see and understand we aren't actually that different from each other and shouldn't be bickering over table scraps.
What's particularly striking to me is how even some of the most dim-witted, blissfully brainwashed conservatives are starting to see through the bs and not only actively celebrating Luigi's heroism, but even calling out right-wing pandering, like Ben Shapiro, in a genuinely impressive instance of them going: "Wait a minute... it's all elitist propaganda?" as what might hopefully be the first step towards them acquiring class consciousness. _Hopefully._ Even so, of course the vast majority of the truly zealous, unrelenting and outright religiously brainwashed conservatives did not even quiver for a second in their resolve and cult-like convictions. It's already too late for them, sadly, and the amount of americans that actually fall into that category is still extremely concerning.
@@andersonandrew112 Except the small loan story is a proven lie. Trump has LOST money compared to inflation from what he actually inherited (vastly more than one mil).
@@terenyi-szabomarton5034 of course. You are absolutely right about that. I never denied that. Doesn't mean i'm not allowed to say what i said though. (this is in response to your 'dust on car' comment. Not the 'literally nothing to do with this' comment) Clearly, my point is, that you can talk about wealth inequality all you want, but there's a significant amount of people who subconsciously support it by doing things like the example i gave. Another example: i saw on celebritynetworth.com, that Kelly Rowland's net worth is 20 million usd, then i looked at the comments, and some girl said stuff like "this is too little for what she's worth! She's so underrated! We should all do something about it so this number is higher for her"... And all i could think was... Really? So many things going on in the world, so many issues to be solved, and your priority is to make someone in the top 0.1% even richer? I mean, i've seen this kind of behaviour again and again, and then these same people watch videos like this and scream injustice. You sound like you've never seen or encountered any of these kind of people ever, at all. Doesn't mean you have to act like Greta Thunberg screaming "How dare you!" in my face, simply for the fact that i DO have encountered people like that. I never decided to encounter them. It just happened. Do not point fingers at me for saying out loud what i've seen. I don't like wannabe-dictators.
Mac Gruber well, I wouldn’t say so. There has been a tendency towards that direction but some still have really mixed and a more social democratic system
@@macgruber6739 There is just no comparison between the socially advanced European nations and your third world nation. And comparing mixed economy social democracies to failed communist states does not work.
Mac Gruber actually I think the distribution would be significantly different. Imo the middle class would be more represented. I don’t think that there would be that many “wealthy”, because of the taxes. The poor would also be more represented because of the social aid. But that’s just my opinion, based on my experience and knowledge
I haven't had electricity in nine months, and I'm currently living in a run down rotting trailer without water and hardly any food. Ive worked myself to exhaustion in the summer heat and sun hardly eating or resting. Only to come "home" to literally nothing but darkness and silence. There is a serious issue with receiving such an awful paycheck every two weeks for the insanely hard physical labor I have to do every day.
How are you Americans still alive and not revolting? When people of my country knew about sausages the USSR collapsed. When 24 MILLION people knew about this video 11 years ago… nothing happened? Yeah, that’s what happens when you fight the communism for half a century, without explaining to people that it is all about equality and greater good. I wish you good luck my man, try to look for the wild nature survival videos, I couldn’t possibly imagine how bad your situation is.
Bro where you at where you're doing insanely hard physical labor and can't afford to get yourself into a better situation? Last summer I was working a landscaping job part time and making $25/hour. Literal entry level job.
For those curious, as of October 2023, the top 1% holds ~26.5% of America's wealth. Source: "US wealth, income concentration resume upward climb in post-pandemic era" By Howard Schneider
that may seem like a lot, but if you check how much they are taxed they are paying are 42.2% of taxes, this means can't be in favor of fairness unless you oppose higher taxations on the wealthy.
@@Mason-vi6dy Except the top 1% of income earners is a very diverse group of people. you can make a couple hundred thousand dollars a year and be in the top 1%. Many of those people do pay a lot in taxes as a percentage of their income. That is because they are not making the lion's share of their income from capital gains. The ultra wealthy do not pay a significant share of their income in taxes and they are the ones driving the political agenda in the united states. Additionally, you are assuming that the money that they are being taxed on was earned through a fair and meritocratic process. I knew someone personally in college whose family owned so much real estate they were making 30 million dollars a month in profit and she told me personally most of them worked very little. Statistics are useless without context.
@@Mason-vi6dy Obviously, the very richest pay much more tax, in absolute terms, than the middle-income earner. My understanding is that the middle-income earner pays a HIGHER effective tax RATE than the richest 20%. Since the middle class has become so much less wealthy in the last 50 years, and so less able to save, you can understand their kids being priced out of education and housing. You can also understand why the GOP Congress will repeal (and not replace) ACA, and make dramatic cuts to Medicare, Social Security. They will explain that the middle class can’t afford the tax bill. Trump will also give the rich a further tax break in 2025.
@@reecewalesiak1223 you really had to say that they think they are flawless? Really. They know about their fuck ups and sht they argue with themselves and do stupid sht. They take pride in knowning that they aren't flawless. You are just another human being bitching to a country you don't live in or don't even know
It’s the realization of statistics such as this why you get generations “don’t want to work anymore” and are quiet quitting. They don’t want to slave away their lives playing a game they know they’ll never win.
Common sense is your proof!!! Forget the Huge salary of a CEO, The average American's annual income does Not even come close to matching just the typical Bonus of a top CEO....yes, their Bonuses are more than Most peoples entire yearly income!!!
Noah Roller And Trump and Hillary is gonna make our country fly? Lower taxes for the 1% who already own 40% of the nations wealth? No universal healthcare and free college like European countries have? US is full of skinheads like you scream USA but are just a little sheep of the big political elites.
Noah Roller Roads in Europe are terrible? WHAT? Roads, highways, and even airports and trains are WAY better than our infrastructures. I live NYC and i've seen the infrastructure all along the North East (the economic center of this country), and they are TERRIBLE. . . The subway is dirty and old, the system is old, the roads all filled with potholes because the government can't find the money to repair it, the trains are slow and unreliable, the airports are old and outdated. Have you seen the infrastructures in Northern Europe? Look at Netherlands highways or the high speed railroads, or lookup European airports, many are rated top 10 worldwide, while American airports barely make it in the top 100. Bernie Sanders said this many times that we need to spend a little less (from our HUGE) military budget and invest them into infrastructure, education, and healthcare. You know, the stuff that actually affects us and not the proxy wars in the middle east that benefits no one but the big elites. Northern European countries have the highest standards, so idk what youre talking about. Denmark is rated the happiest country over and over again, and Norway has the world's highest HDI index along with Denmark, Netherlands, and also many other European countries.
I live in Norway, wich is an Europeen country! And I do Agree with ARVIN! And yes the taxes are high, but everyone has enough, even if you have the poorest job ever. And everyone are happy with their life (and nature) even the poorest, and guess what! No one lives in the street only immigrants and stupid b*tches hwo sell everything they own to buy an [insert valuable item here]! Search for: ''best countries to live in'' on youtube, i think you will be surprised (I've been to NYC before BTW)
Carlium I wish America will adopt the Nordic model one day, or at least have some states (the more liberal north eastern states and west cost states) to adopt it. I hate to walk the streets of NYC to see homeless people everywhere, yet were walking beneath a billionaires condo where a pent house unit costs around $100 millions. Or to see our crumbling and destroyed infrastructure with no proper funding whereas our military and foreign military aid is HUGE. Maybe one day.
ARVIN I know that the Nordic model is somthing MOST countries want, but you can't get that model in a flash, it takes years before the model can be fully adopted. oh and Noah Roller Just becouse they drop out doesn't mean their bad at everything, they're just tired of learning. In Norway you have more vacations than USA, and therefor it's easier to drop out of schools or quit working.
Well now it's even more depressing than 2012. The richest three individual persons; Gates, Buffett and Bezos own more wealth than the lower 50%. That means 165 000 000 people have less wealth in total, than the richest 3.
@@JakeKilka Yea bro, but u have to remember that those people provide almost 1 000 000 workplaces in all around the world(not counting subcontractors, it could be multiple times more than this number) In my country workers in amazon earny almost the National avarage(you need 0 education to work there), and in Microsoft, probably more.
@@rakerk6458 you dont think people would still be working in spite of them lol, its not like people didnt work under socialism or better yet in every society in history
There are some rich assholes that spend extravagant amounts of wealth on pettey personal pleasures; but, the majority of the top 1% wealth is invested in business. In other words, it's not cash sitting in the bank, but buildings and inventory.
ChrisTiam Most billionaires aka slave owners are typically lazy individuals who benefit from the low on the totem pole workers who are actually hands on.
Average Joe I work a full time job as well as a part time job. I also have 3 years of college under my belt. I respect your opinion but unfortunately greed is a problem in the world if you don't see that your an idiot.
In 10 years, the top 1 will percent will likely own 90 percent of the country's wealth. They could steal your land, your cars, and even your family if they wanted to.
Thankfully this video from 2012 highlighting the wealth inequality in America is about a problem that doesn't exist anymore. So glad in 2024 we have fixed wealth inequality. Great job guys and gals
When taxes are raised to help people out of poverty it's called "theft" When workers are only paid a fraction of the revenue that they generate for the company, and the rest is pocketed by their employer, it's called "entrepreneurship"
Jeff Bezos, the wealthiest man on earth, is self made, he started his business in his basement. Now he employees 1.3 million people, with many earning 3 figures, and the companies minimum wage is at $15/h. Don't let envy overcome logic. Envy has destroyed nations, i've seen it. The poorest 30% of americans are the top 1% income earners in the world.
@@trvth1s okay, so everyone should just be happy with their lot? Poorest Americans still have shit lives. Logically, we as a society should be doing all we can to help the majority of people have as good of lives as possible. That being so, these megacorps can stand to pay their lowest paid employees far higher than what they do. There should not be many orders of magnitude difference in the pay of the lowest earner vs that of a CEO. And yes, Bezos takes a 'modest' salary and generally pays higher than the national average, but it's still not enough, especially in very high cost of living areas. And I'm not just singling out him here, but every megacorp needs to pay more. They follow the capitalist credo like it's their bible, sure, but at the cost of people's lives. You're paying the company your time and your life to be paid in return with mediocre wages? Sure, that's great. Also, Bezos is not self made. Do an iota of research before making claims my dude. His parents provided him a $350,000 loan as startup capital. Who the hell has opportunities like that? You're telling me just any old Joe schmoe can be that well off just starting off? Give me a break
@@bagelbytes69420 countries should watch out for their citizens with net protection programs, but that has a cost. If that cost falls on corporations and it makes doing business in said country unprofitable, they leave. And countries with no corporate back bone are 3rd world poor. Scandinavian countries have no minimum wage and a lower corporate tax rate than the usa; files.taxfoundation.org/legacy/docs/Progressivity%20of%20Scandanavian%20and%20US%20Income%20Taxes.png These countries pay for a lot of social net protection programs, but they do so mostly with massive natural gas and oil reserves coupled with the low cost of the programs thanks to their city sized national population. Amazon pays many employees 6 figures, and their low skilled minimum wage employees are at $15/h minimum, that's $30k a year for low skilled work, for reference if you make $30k a year you're one of the 1% wealthiest people in the world, this is the type of economy USA has produced. Greece, Puerto Rico, Venezuela all got greedy and jealous of corporate profits, they all raised taxes so corporations left, look at the results. In usa 88% of millionaires are self made, most through years of hard work and paying into 401k type plans. You cannalways make things sweeter in usa, but don't destroy the good in the process. The road to hell was paved with good intentions
Reminds me of what happened in the Russian and french revolution. When the majority become so poor and have nothing to lose they swarm like ants to kill the dragon.
The Russians and French had literally nothing. The people in the US, even the poor, are much better off than the people who were in Russia&France. The average salary for the bottom 80% in Russia today is 9,000 USD per year. The average in America is nearly seven times that, at about 60,000 USD per year. In Russia pre-revolution, the average salary was less than 100 USD per year. America is shockingly affluent compared to pre-revolution France or Russia. And, overall, people are happier in a democratic republic than in a monarchial aristocracy.
Joke's on you. Union execs sell underpaid workers the illusion of security. The UFCW sacrifices part timer rights for full timers... so the companies stop hiring full time. The UFCW encourages this. It takes two part timers to do what a full timer could, which means double the union due income.
I agree. Hate the rich people or not, they've worked hard to become rich, it really isn't given. They likely thought outside the box but of course there are some who were given but most of it is earned through hard work
@@mexilianmus2016 Nobody "earns" billions of dollars. I can respect people who make a decent salary like doctors. However, billionaires made their wealth through the exploitation of other and through monopoly, not free competition.
This is why I love Mom and Pop stores and Unions because rich people don't decide how much workers get paid AND they don't decide to layoff workers just to maximize profits...
One of the biggest flaws the USA has is election campaign money. In the UK I think the cap is £100,000 allowed to be spent per party. It would have to be considerably higher in America obviously, but I would really like the know how it manages to cost nearly $6bn. Another interesting point in the UK is that direct political advertising is banned. Each have a party political broadcast on the run up to elections and that's it. UK political system is far from perfect though, but I think the US does need to take stock of the situation. Whoever is paying that $6bn is only doing it in return for favours and influence. That then kills any chance you have of living in a democracy. What you have a is simply the illusion of democracy.
Tim Hole The main difference is in the UK all the bribery is under the table but is never exposed because the 1% own the media.. The consequences are exactly the same.
RullyisJRM Must explain why the direct campaign contribution limit was 15 times what it is now in 1942 yet that didn't prevent the New Deal, Fair Deal or Great Society.
America has always been unequal since the colonial days. Remember only land owning white men had power not even all white men. It changed in the 30s with the rise of unions which gave us what we know call the American dream in the 50-60s . Than it went back to the way it was starting in the 80s when Reagan implemented neoliberalism.
"To become rich, you have to get others making money for you while you do nothing by using the corrupt mechanisms of our current capitalist system." I fixed it for you.
Not everyone is able to pay cash for everything.so eventually you get into debt at some point and if you dont make enough to pay that debt off in a timely manner. But you're missing the point.
I beg to differ. The idea that someone is unable to pay cash for everything is true, however that person is always living above their means and having an unsustainable lifestyle for their income. The thought that the little man can't get ahead is completely false and misleading to many Americans. It is ultimately up to the individual on what kind of life style they want to live. th-cam.com/video/7wjuCgtL0yA/w-d-xo.html I'd recommend watching this video all the way through and would like to discuss with you after if you want.
@coffeeinthemorning my point is they dont want you to get out of debt because you'll have more freedom/options. Same reason why they dint want universal healthcare. People wont leave their jobs because of benefits. If they didnt have to worry about healthcare then people might leave their job. Same as if people didnt end up in debt. Sure people overspend, but thats necessarily the situation for everyone. I know you're going to have a rebuttal because you have to make yourself feel like you're right.
Again, I’d be more than happy to have a discussion with you on this. Wealth inequality is an essential part of this country and primarily one of the main driving factors in innovation and improvement of the american lifestyle.
@@FloMoBass I totally agree, wealth inequality is a part of development. In the stone age the chief of the tribe might've had the chance to eat first but there was not enough to make things unequal. But nowadays since there are multimillion dollar watches and mega yachts for hundreds of millions of dollars there is enough progress to allow for people to have differences.
@@hatthay997 About which skills you are talking about? How to make money at all costs? Most payed jobs today are the one for which you need skills of deception and stealing of others. Do you know in which countries suicide rates are highest, like tenfold higher? In ones with most money. Lot of money does't bring happiness it brings greed and unsatisfaction. The most beautiful and noble people I've met had a myriad of skills and knowledge, but surely didn't have a lot of money, it just wasn't needed. Many brains are brainwashed by capitalists consumer society in that way you can't recognize them as someone you can have a creative conversation. No matter what happens in the future, no matter if we achieve immortality and endless prosperity, life will always be just a ride which quality doesn't depend on money but on balanced chemistry in your brain. Harmonious life doesn't need greed, it need passion, it does not need a lot, just enough. Don't get me wrong friend, it's just a ride...
@@hungcapitalll People are not born equal. They have different abilities and talent so income inequality will obviously exist logically but people are emotional and can't accept that.
+Greg Akopyan Rich folks get subsidized because they pay politicians to give them corporate welfare and tax relief which earns them more than the cost to buy a politician.
+Greg Akopyan Bernie is pro capitalism. This video is a misrepresentation of socialism, and showcases communism. Bernie is a democratic socialist in the sense that he supports free healthcare and free college education for everyone in America. Not "free shit". If you look at Canada for example, as I live there myself even the far right don't even fucking consider trying to talk against our healthcare system, they'd be laughed out of the election. For every other major developed country, this shit is just common sense and America needs to catch up. He's not too far left at all. He's just using common sense. The US has been a democratic socialist country for over 230 years, having programs such as the military, public libraries and roads just to name a few socialist programs. This is just another step forward. You don't know at all what you're talking about, swine.
Good, I say, if they vote Republican and scream commie all day at anyone who points out the madness. Let them choke and die. No sympathy. I bet you most of them are happy about it and listen to Rush Limbaugh and swallow Trump's tripe. Some plow horses and slaves are happy. That's when you know the brainwashing is complete.
I saw a bumper sticker the other day on a rusted out car that was falling apart, it read: "I don't believe the liberal media." What that person doesn't realize is that most all of the media in America is anything but liberal. It all relies on corporate advertising dollars. It's as capitalist and rapacious as it gets. The media rarely reports on the environment or poor labor standards. Gee, I wonder why (sarcasm, of course). Nor will they ever mention that trade must contain rules to protect the middle class and poor from finance capital seeking out the cheapest sweatshop labor abroad. The reason that poor dolt has a car which is about to fall apart is precisely because of the media narratives they've swallowed whether they watch the news or not. The mainstream media narrative has permeated the culture. The culture has been duped. This is what the average person thinks. [They are all false and predatory.] 1. Corporate charters can't be changed or augmented to support workers. They must be devoid of rules and free to support international capital flows. 2. Profits hurt no one. Diverting wages into corporate profits harms no one. 3. Progressive taxation is theft. [Never mind the rich are supposed to pay the majority of taxes because it offsets the inflation tax imposed by central banking and their tax dollars support a judicial and law enforcement branch that protects their wealth. Don't believe me: Read Adam Smith. He made this observation before Marx.] 4. Money equates to productivity. [Do nothing trust fund kids prove the opposite.] 5. Markets are efficient and free. Anyone can participate. 6. Regulations are bad. [I guess people want to see the return of 18 hour work days, child labor, and having the rivers burn with pollution.]
Anonymous DueToFascists liberalism is not the left though. Democrats, up to my country's standards are further to the right than our most (non fascist) right wing party. Republicans don't even have a counterpart here because (although we have a few problems with similar things) religious fundamentalism, extreme conservativism, libertarianism and large scale corruption have all been recognised for the bullshit that they are
I would love to see this same structure applied to what we think the distribution of the US budget is, compared to ideal and reality. Then we can see visually how much we throw at military spending, vs the paltry sums given to domestic programs.
luvcheney1 Defense spending is more than half of discretionary spending. Social security has an independent revenue stream that is regressive (the cap on the payroll tax), and the fact that the US spends more on healthcare per capita than countries that actually provide universal coverage should shock you. And do you really love Cheney?
luvcheney1 You think that's the only source of income for rich people? Pentions and social security? Really man? I guess the billions or millions they have that no one person needs is more important to maintain then keeping the lower and middle class from borderline poverty, foreclosures and being made homeless. I'm sorry but I'm very certain billionaires can afford higher tax rates and still afford their fancy things. The poor shouldn't be forced to pay out almost all their cash and barely scrape by, if they even get by at all. For petes sake minimum wage hasn't been adjusted for inflation since 1976!
Joe Hannah the whole video is actually incorrect tho. The statistics he gives are based on net worth, but he talks about it as if it’s annual income. The average income of someone in the top one percent is about $1.3 million and the median income among full time working Americans is about $50,000. This means that one percenters actually make about 26 times as much as the average American, not the ridiculously false 380 figure in the video. The fact that I haven’t seen anyone in the comments correct this yet is surprising.
@@ordohereticus5530 I wouldn't be jealous of Hitler having so much power, why would I be jealous of some corporate sociopath exploiting the working class? I would feel pretty bad about myself tbh.
The fact that this was created 11 years ago, is insane, imagine the distribution now.
I don't give a shit what it looks like. I build my wealth regardless of if Bezo's makes $1 or $1 billion dollars, lmao. Either way it doesn't effect me at all.
top 1 takes 60% now, probably
A separate column would be needed for all the funds given to foreign powers such as Ukraine.
@@patataum1757 likely 90%. Would like to see OP remake/revise this. for 2023.
@@billkeithchannel Oh nooo, about 5 percent of the military spendings are given to a country that actually needs it, the horror!
Can’t imagine what it looks like now in 2020 lol
I imagine the poorest 15 percent on this chart don't even register today
@David Mc Not saying Biden is gonna save us but we are in Trump's America right now and wealth inequality is more rampant than ever.
Look at the stock market
@@EasyKiwi111 It maters not if you elect Trump or Biden or whatever, the oligarchy is not elected nor ousted trough elections. Revolt is not the answer ether the oligarchy will crush you. The only thing to do is to wait for some of the oligarchs to turn on the others and prepare for that inevitable day.
Aimen Abduljelil so you would rather have everybody equally poor? Really is this is what America has come to
hmm, i wonder why this video is showing up in people’s feeds again…
The truth will eventually come to light
Deny, Defend, Dispose.
Somebody watch this man@@csarine
Trump will skyrocket this trend.
@@pelleif you defending or hating on him?
Maybe this is why the CEO of United Healthcare was murdered today.
Wanna restart 1917 revolution little commies?
Yes…. ************ CHARTS ************ like this cause radicalization. Not “wealth inequality”. You’d have *zero* ideal about it unless the chart was pushed in front of your face.
The chart/discussion is doing ***** all ***** of the damage. Not where wealth is.
@@Nonamelol. Now I'm no expert but I didn't think that politicians enshrine insurance company CEOs - we aren't shareholders, we got no say and have no cause to admire the guy.
With united health rationing you're healthcare
@@Nonamelol. CEOs of private companies aren’t chosen by elected representatives 💀
Saddest part is this video is from 8 years ago, and just this year since March, the 1% have doubled their net worth.
Just wait for the stock market bubble to implode
@@f0real9 not if you invest in mask companies!
and so have the bottom 1%
@@clanof1144 True. Just wait until the bottom 90 % demand their piece of the pie.
@@clanof1144 the bottom 1% are in negative territory, they don't have a networth. They have debt
funny that this was posted 6 years ago and it's even more relevant today.
@Colman, what capitalism are you talking about? Germany? The USA (not America) socialized the biggest debt in the history of the world, bailing out corrupt and inneficient companies since 2008, spending more money controlling and making up the economy that all the communist countries of the planet put toghether trough their history. And according to own US data, are the small businesses the ones that provide more jobs, not the big corporations. "...the state has no right to steal money from the rich (hardworking and benefit society)" may be you are confusing the 1% with the .0001%" of course the government has no right over hard earned money, but wealthy individuals doesn't even work, doesn't invest on job creations, they just lurk between easy lended money to prop up their own shares on big companies without any tangible good, and if they fail on their bets, there's good old Uncle Sam to socialize their loss among the rest. Really are even well educated people so blind?
The Finance Guy- Stock market videos My parents belong to the wealthy 20% percent, and there wealth increased with only 15% in those 6 years. I do not feel anyshame, as my parents worked very hard for their position.
How is it relevant? That's like saying the person down the street buying a new car is your personal business, it's not.
Huschibaba The Golden Age of the 1950s/60s was bought by World War II, it's easy to have the highest wages and living standards when one is an economic hegemon because the rest of the world's economic capacity is destroyed and it has little choice but to buy one's exports.
Wackokicker Small businesses create most of the jobs because economies of scale lead to greater productivity and ultimately a cap on the number of employees needed.
Why is this not recommended 7 years back....
It's still valid
Imperialism: The Latest Stage of Capitalism was written about a century ago, and yet is still more valid than ever.
It's even worse now.
Either the poor are never going to do a large scale rebelion and starve to death and then the rich would have to work for themselves or the poor are going to have to rebel until this system is no more.
@@liberator101 poor be poor cos choose it, cos its simple.
Rich be poor cos gamble.
Rich be rich cos use the brain.
If you want to earn enough.. not even rich.
Go work make money and then study.
When u have a good diploma.. A GOOD ONE then you will have a fine job house food and a car.
Its how healthy countries works
@Olli Koskiniemi Don't try to explain it to them. They are clueless. The "poor" he refers to are very wealthy by global standards. Let alone by the standards prior to free market economies and capitalism. These people don't understand the concept of allowing the money to flow into the most capable hands to generate additional wealth and how that helps all of humanity. They just want to steal what they don't have.
with every second passing i can feel myself becoming more and more radical
Good, there gonna live there best life at your expense cause they earned there 75,000$ an hour wage, and your an idiotic peasant that isn’t working hard enough, meanwhile what do a handful of these elites who are also pedophiles do with there free time 🤔
Stuff like this will be in the news, and then the next story is about how two white cops are being accused of police brutality against a black man and people are throwing riots outside the White House, people need to be throwing riots for a higher minimum wage and demanding the government is taking more from the super wealthy, and the pedophiles are jailed. People are just as irritating cause they don’t care.
Envious
@@gustavo042 It Isn't about envy, the problem is that a person imagines the welt as Money on his bank account, while the wealth of the rich people is in his corporation, which has his workers and his property, and if you think at a big corporation that make sense.
That’s the intent… this isn’t a reality that mattes to you or anyone… ******* EXCEPT ****** as a radicalization tool.
@gustavo042 Lamo, "envious".
Brother in christ, we and the rich are so financially far apart, that we don't even know what to be envious of.
The scale is likely much, _much_ worse now than it was when this video was published. As prices rise, quality lowers, taxes evaded and economic problems ignored, the disparity keeps on growing larger and larger, along with the pockets of those at the top of the scale...
you DO know the top 5% pay half of ALL taxes? And are also your employer?
@@underscore_tipthe top 5% are so insanely wealthy compared to the other 95% that even that isn’t enough
@@underscore_tip and? they dont employ people for charitable reasons, but because they need you to make themselves even richer
@@underscore_tip doesn't matter when they find ways to pay pennies in taxes
OH... oh no. I think you are right.
I really want to see a 7 year updated version.
Unpopular Opinions A paper released this year by the Federal Reserve showed that the top 1% have around 30% of the wealth, whereas this video claimed that the top 1% had 40% of the wealth back then.
Al Smith Hooray?
equitablegrowth.org/the-distribution-of-wealth-in-the-united-states-and-implications-for-a-net-worth-tax/
Not sure what year those graphs on the video are from, but the ones in the link are 2016
@@alsmith5147 which years are we speaking now?
I would love to see this updated for 2022, and really it would be great if it were updated annually…to show how wealth distribution is improving or getting worse. I suspect it has gotten significantly worse since this was produced. It’s also amazing that so few Americans can’t unite to demand a more fair tax code to help address this issue, and to help improve their lives financially. Yet, they can unite around misguided anti-immigration policies that have little to nothing to do with their financial well being.
Yes me too!
@@lorettotremari2470 I kind of want to do it .
Same!! Any chance of an update after the pandemic?
re-vo-lu-tion. period.
If a good enough reform can be passed, sure, the reform path is easier and should not be dismissed. But I'm highly skeptical that with this current situation any progress can be made. Exert pressure!
I don't think I would want to. This is bad enough and it is probably 10 to 100 times worse.
I saw this video five years ago in high school.
Although the data is outdated now, this video needs to be shown in every school in this country.
Now why would the top 1% allow that?
@@austin33785 oy vey
For motivation or hate and jealousy.
Hmm, I would hold off. The video has some inaccuracies that need to be fixed first: th-cam.com/video/7LZreuT919c/w-d-xo.htmlsi=HiEL1Z8ZB_H10U1q
@@shanerobinson3683for motivation to fight for a fairer society
"It's cheap to be rich, and expensive to be poor."
Exactly, if you tax a millionaire 50% of their income they're are still rich. If you tax an average American 50% of their income they become dirt poor...The rich don't have to worry about grocery money, gas money, water, electricity bills, phone bills, tuition fees, student loan debt, medical bills, etc...that's all CHUMP CHANGE but for the average American, all that is called living paycheck to paycheck. In fact, 78% of Americans are living paycheck to paycheck. That's the American Dream ladies and gentlemen....reality.
@@Cod4Wii preach it !
@@Cod4Wii No, That is stupid B.S.. Socialism sucks. However, notice how they did not provide any solutions but said "we Dont HAAAAVE to go to socialism" (But we won't tell you anything other than it). Taxing the rich has a bunch of problems and is stupid, but I will start out slow. For instance, It is morally wrong to take from someone who has more than you because you have less. However, regardless of that, you seem to think only the rich rich will be taxed, however if you take everything they own they will simply end up leaving the country. Now, to keep this tax at the same level to force wealth redistribution, you end up having to tax people who make 200k a year, and then when they loose everything it moves down to 100k a year and so on. The rich already pay a MASSIVE amount in taxes for the United States. However, videos like this make it look like they are sleezeballs who dont pay anything. The rich don't have to worry about simply fees because they started a business and people bought it, thats capitalism. Maybe if democrats like Bill Clinton didn't give our industry away to china more americans would get payed more. However, the American standard of living as of now has IMPORVED over the last few decades and is continuing to improve. Compare that to socialist "Paradises" like Venezuela, Cuba, USSR, Etc. Point being, forced wealth redistribution is bad, socialism is worse. America would be much better off cutting trade deals with china so Mega Corporations dont just outsource manufacturing in other countries where slavery is allowed. Instead, everything would be American made, and Americans would have more jobs, and our economy would grow. In the end, taking from someone who has more because you have less is stupid, taking half of everything they have is even worse, and freaking stealing everything they have and giving it to others in socialism, that is just diabolical.
@@j775w8 This is not really about capitalism or socialism, it's about corruption. Many Europeans have free universal healthcare and free college, so why not do what they're doing? Norway, Finland, Sweden, France, Germany, Denmark, Spain, etc...all have 4 week paid vacations or more regardless of when they started and regardless of being part time or full time. In addition, they have healthcare for all, nearly free daycare, free tuition, months of paid maternal AND paternal leave. It's insane that the United States makes more money than the entire European Union combined, USA makes 21 trillion dollars GDP per year while EU makes only 18 trillion dollars per year GDP, and YET the USA still does NOT have these benefits. In fact, the United States is the ONLY 1st world country with NO free healthcare and NO free college. Hell even 3rd world countries have this RIGHT, because healthcare should be a RIGHT not a for profit privilege.
@@cn2673 getting sick in USA is straight way to the poverty and living in the streets.
“It’s Called The American Dream Because You Have To Be Asleep To Believe It.”
-George Carlin
"If you want to live the American dream, move to Finland"
-Richard Wilkinson
Its a big club...and your not in it
@@fugue137 *_OR move to Dubai or Monaco which are tax free countries. No need for universal health care when no one is poor from taxes..._*
@@Thelongmanable Do you think tax money just disappears?! Regressive taxation makes people poor. Progressive taxation does the opposite, as long as the government invests in public services, which is kind of the whole point of government.
*_Ever wonder or even ponder why doesn't anyone at Harvard, Stanford or Yale ever study or debate a tax free society like Dubai or Monaco where average citizens are rich yet inflation DOESN'T EXIST!!!! BECAUSE ONE THEY ARE PAID MOSTLY THROUGH GOVERNMENT FUNDING AND TWO IT WOULD COMPLETELY DEVALUE THE ENTIRE ECONOMIC TEACHINGS OF THE NAZI AGENDA. AMERICA WAS NEVER FOUNDED ON TAXES AND WE SPENT FIRST 100 YEARS IN AMERICA TAX FREE!!! UNIVERSAL HEALTH CARE IS ONLY NEEDED WHEN YOU RAPE PEOPLE OF THERE MONEY THROUGH TAXES!!!!_*
Warren Buffet said it himself: It's impossible to not become more rich once you've got millions.
But million dollars isn't that hard to make of you spend a lot of years saving and working an average paying job and borrow loans.
@@shadowagent3 You have to pay the loans back for more than you borrowed. Also, the cost of living takes away the vast majority of salaries. The average person makes around a million in their lifetime but they aren't even close to being a millionaire by the time they die.
and Warren Buffet lives in the house he bought in the 50s for 38k, drives a $45k car and is a beacon of philanthropy... bad example...
@@shadowagent3 wat
@@oldslowcoach no it's not about being good or evil, he's just saying that it's easier to make money with money.
If we had any kind of honest media this would play every single day.
Why, since it has no effect on you?
@@RyderSpearmann it has no effect on you except for the part where the only reason it doesn't is because it already had it's effect and is now just getting gradually worse
Why? This would not change anything. The fact is to reshape the entire distribution of wealth in this country would literally take a revolution, and the VAST majority of Americans (95+ percent) enjoy far to high a quality of life to want to go down a path that involves violence, war, starvation, non existent supply chains ect to have a very small chance of making a difference, a good chance of returning to the status quo once its done, and a great chance to ruin everything for everyone and make everyone worse off.
This problem with focusing on wealth distribution is its not like the low class in America are starving. They objectively have a quality of life better than most people in the world. There are issues, yes, but focusing solely on wealth distribution is stupid. Quality of life, number above and below the ABSOLUTE poverty (Not relative poverty, which is a measure of income disparity, nor actual poverty) are far more important to understanding the state of a country.
All of that is to say that a poor persons life in America is not so bad that even if this was common knowledge they would do anything meaningful. They will (some of them, at least) continue to vote, but that really wont chance anything with how the system is currently. The average person cares far more about feeding themselves and their families and keeping them safe than social issues which require very drastic measures to change. Its the reason that dictatorships last so long and even continue today (Saudi Arabia is essentially a dictatorship, yet the people tolerate it because their quality of life is high enough they look past that fact. If the King suddenly started doing a bad job, economy collapses and people starve, he would be ousted very quickly.)
So even if the media played this everyday, nothing would change. No body would do anything different than they do now.
Reading the comments was a mistake.
Valdemar Hoejlund what? You don’t think the Interwebs is like the free market of ideas, where people can only enrich themselves by thoughtfully exchanging well researched and balanced opinions?
@@move2003ny This comment has to be an attempt at humor. Anonymous posts are almost never thoughtful, researched or balanced. Put some skin the game with your identity.
@@move2003ny that was a pretty cool sentence tbh
@@move2003ny I am going to save that one for a later use.
Why?
Someone needs to update this so we can see just how bad it is these days, in the beginning of 2020
Welp considering the central banking cartel 'the Fed' has been pumping 80-100 BILLION per night into the banking system since September (1st it was just temporary, then till the end of October, then till the end of November, then 'till April' now ? And they no longer have to do this just 'overnight' - now they can delay it for weeks - and of course pull MORE out to buy back their (toxic) collateral when the first loan comes due. Funny - how much they have to pay when desperate for money overnight... 1.75% interest on the billions, and how much does the average working stiff pay if they have to borrow on their credit card from those same banks, or have to get a payday loan? Wouldn't it be nice if the central banking cartel let US borrow from them at 1.75% interest?
Anyhow the "overnight" repo market has gotten worse of course - the central banking cartel's balance sheet has added almost a trillion bucks since September (and no doubt they've printed a whole lot more than that - that they are not counting on their books. They are buying gold in record #s, almost every central bank around the world has been buying gold buy the 100s of tons the past few years... they know what's coming... sadly most Americans are being too distracted by the extremely horrible actors on CNN/ and FOX (do they not realize both sides are owned/controlled by the same group of elites? and some of them on both sides are PART of that elite!!! Just look at the Bush/Clinton Nafta 'arrangement' - where Clinton didn't even want to ask the Mexican leader, who was desparate for the deal, to have any sort of labor or environmental standards! Sorry I am starting to rant. If anyone is reading this a decade later - if this virus thing doesn't excellerate the timeline - you likely have less than a year to stock up on all the things you'll be needing anyhow, as well as buy some items for trade/barter and possibly some gold - before all this massive $$ printing ends up making your purchasing power on the $ you have worth 30-40% of what it will buy now (if the $ is even worth anything then...) Your bank account be - you are now a creditor - the money you put in the bank was as a loan (google it!) These polticians and bankers are sick f's.
To succeed you need to become a student of success. If it sounds like work it is!
@@1Skeptik1 Cult member
@trueman mann Work is half the equation, the other half is being a little smart. The formula: A little smart and a lot of work NEVER fails. It worked for me (I came from a poor family) and it works for my granddaughter. The fact is we are a nation of financial idiots, half live hand to mouth and many with 6 digit incomes. Invest in yourself, read a book, study success, talk to people doing well, take a class, start a part-time business and if that sounds like work IT IS. Who is holding you back?
@@1Skeptik1 🙄Everyone who isn't as lucky as me is an idiot!
Rent has gone up almost 300% for a single room compared to 2009, wages are nearly the same as they were back then, Airbnb was a factor, banks, and Wallstreet/investors and shareholders. I don't care what your political association is, things have gotten so far out of control, we need regulation, and we really need fix this country.
Like if you're watching in 2023 & think the same.
It's the regulation that has artificially kept housing prices up and decreased overall competition. We need to end all this overbearing and corrupt legislation only benefiting the companies that have chosen to corrupt the state and abuse its power. image if the Airline industry hadn't been deregulated, flying would've probably still been a luxury with only a handful of competing companies.
@@8is i feel so, so sorry for you.
@@br4inpl4zma82 You’re the type to complain about reduced leg space on planes while simultaneously not being willing to spend a single dollar more for more leg space.
@@8is im the type to realize that using PLANES, the AIRLINE INDUSTRY, as an analogy for a HUMAN NEED is a shit-brained way to articulate any solutions or model any problems. they’re two different kinds of good, idiot. you failed economics.
@@8is I know you. You're the guy who thinks fascists were basically communists. I'm sorry but taking you seriously is hard. What made air travel safer than any kind of transport was government regulating it heavily and not taking any chances after private sector kept crashing planes. Also airlines can't make a profit, they survive with federal subsidies so your well thought "free market" would just make airlines disappear.
The worst part is every time we hear "tax the rich more" some poor people fight for them. I just never understand why.
the rich have so much money that they can afford to spend some of it on propaganda for poor people
why dont you ask them why? Maybe you can learn something you dont know?
@ChillinHD please enlighten us
Maybe because the ultra rich are also the biggest employers. That tax affects them too in the end.
And at some point, for those ultra rich, it isn’t about the money but rather the growth of the company. And that keeps everyone happy including employees. Everyone thinks owners and CEO’s are all play, when a lot of them live lonely lives, have stress fat around their belly’s, heart problems and losing their hair. They have great events, but they are working all the time and are under constantly judged under the social media spotlight. It’s not all fun and games.
The same people who you claim defend them, aren’t for spending other peoples money. And are more focused on how our tax dollars are spent. Where the money is spent or sent. We all hate more taxes. For anyone. Especially, if it seems to be making our current public servants richer every year. They don’t want to tax the rich. They just want the system to be fair so we can all have the ability to get rich.
A simple google search on who got insanely rich while in office is my list of “never vote for those guys.”
Taxing the rich won't do what you want it to. The rich can shuffle around their assets to evade taxes, reinvest all of their money into their businesses, and take out loans against their own insurance to evade taxes. The real issue is the lack of fair competition. Every time a new business tries to enter the system to level the status quo, they get locked in red tape for licensing requirements, lawsuits from stretching the concept of patents to all of a sudden include their product, etc. That's not even to mention how parasitic the federal government has become. Before prohibition and the world wars, the major source of funding for the federal government was just alcohol sales tax. Then prohibition prevented that, they introduced the income tax (and got people to vote in favor of it by claiming "its totally optional"), they started creating all sorts of alphabet agencies that go far and beyond the governments allowances via the constitution, etc. The whole system is fucked
When you realize that this video is 10 years old and wealth inequality is probably 20x worse
There’s an updated version from someone else; it has gotten a bit worse. The top 1% are up about 2 percent ownership of the entire US wealth base
Do you have the link from the updated one?
It’s obviously not “bad” in any conventional sense… if you are blissfully unaware of it ****EXCEPT***** when someone puts a graph in front of you.
@@RyderSpearmann that just means it's been bad for so long that we don't understand how bad it is.
A quick 2020 update:
The median American household's net worth now:
$97 000 USD
The median American household's net worth if we lived in the "ideal" society pictured in the graphs of this video:
$726 000 USD
And this is why we should've picked Bernie. smh.
@Womp Womp well Bernie wouldn’t have done that, he would’ve achieved the first graph, the socialist graph, with no difference
@@chriskendall1619 hmmm, no he stated that the top tax rate would be 52%, along with subsidized Health Care, Education and Better Infrastructure. He would've, at least, decreased wealth inequality in this country in my and many other people's opinions.
@@chriskendall1619 Well which graph do you want? Also can you justify it?
@@chriskendall1619 No he was very clear about it that he didn't want that first graph, he wanted a system similar to europe, not socialist, not capitalist but something healthy in between. His "extreme left" views are considered centre views here in europe. Unfortunately people wrote him of as a crazy communist without knowing what it actually is.
"Jeff Bezos has entered the chat"
Rothschild: Hold my beer
@@nyahnyahchannyahnyahchan2316 Rothschild family is nowhere near where it was at its height. It is important to identify the real problems.
yeah thaqt what they would like you to think
Wealth inequality is like mountains growing when plates collide; the plates must slow down by nature, the mountains stop growing, and all the while erosion is spreading that new land across the continent so the peaks are less and less towering while the plains and delta rise above the water. We had super wealthy rail and oil moguls early in the last century but the extreme profitability of those ventures spread out rapidly and funded extraordinary growth across the economies of the world, so now there are millions of very wealthy oil tycoons but there's nearly no one new who becomes a multi-billionaire by innovating in the oil industry these days; it's high hills like the Appalachians. More recent were the tech and globalization mountains, but you can't just invent another Walmart, Amazon, Google, or Facebook anymore. Now that those markets have been created, the early benefactors (Waltons, Bezos, etc.) will be the only vastly rich people created by those markets. While the market keeps growing unless something stupid happens (i.e Communism) everyone else who enters that market takes a lesser slice of the remaining total, so no new multi-billionaires are likely to pop up unless a whole new market arrives. Since we're relatively close in time to the creation of so many revolutionary markets the inequality as a simple equation (wealth divided by number of people) is really major right now. But these original business owners benefitting from recent revolutions are still young and the wealth hasn't been divided yet. In 100 years will Jeff Bezos still own that many billions? No, he'll be dead probably, and even if his estate keeps growing that will be by investing in (letting others use) his wealth, and the number of people and non-profits living on that estate will far exceed 1 individual, so rapidly as you divide even $300-Billion among 10, 100 people; minus management fees, minus lawyer fees, minus annual taxes, minus the 90% that remains in stocks and is not withdrawn as a dividend each year: now there's only about 5% of that estate. Spread among 100 trust fund descendants and we're already down to $150 million each within probably this century or less. It spreads out fast.
So, the issue with wealth inequality is like the issue with fat in your diet. Is it bad? Maybe, it depends; fat alone is not enough information to tell. Does your country have wealth inequality because some wealthy dictator is hoarding everything by force among his cronies? Or does your country have wealth inequality because it has just experienced the greatest leap in technology ever seen in human history, some people have been extraordinarily blessed to be involved in that leap, and the rest of us and across the globe will be enjoying the results as it spreads. Thank you Google for keeping TH-cam running, for instance, sharing Google's wealth with us although it will likely never be a profitable venture.
I have no problem with wealth inequality. Injustice is actually easy to recognize; you don't need to statistically analyze people's income and current savings to find it. Did Walmart steal my money? No. Did Amazon steal my money? No. Then have I been treated unjustly by them? Probably not.
No labor surplus value was extracted from laborer to make the billions
I was shown this video in my sociology class 6-7 years ago. Now after the pandemic, I fear it’s even worse
"There's a big club out there, and you and I ain't in it."
Only because some have chosen not to be in the club. People made decisions in their life that have put them where they are today. Tomorrow they can make a decision and change their financial position. Americans live in a country that has no ceiling on how much you can earn no matter where you begin your life. Most Americans don't understand the opportunities they are afforded in their own country. They have been brainwashed into going to school and getting a "good" job. Then they wonder why even though they are doing ok the wealthier did better. Then the solution is always take from the wealthiest to give to the poor. What evidence do we have that giving someone else's money to someone led to wealth creation?
ParabellumRacing You are the reason that the billionaires keep on laughing. You keep them in the position that they are in based on your naive outlook on life. You will never be part of the 1%. Now matter how hard you try.
@@ParabellumRacing They've been brainwashed, so other people can exploit them. Why else would they be brainwashed? Are they brainwashed for no reason, or is it to benefit someone else?
@@ParabellumRacing "Americans live in a country that has no ceiling on how much you can earn no matter where you begin your life. Most Americans don't understand the opportunities they are afforded in their own country."
It's just a pity we are not all born equal or have equal opportunities. And to think that is not so, is very naive.
I obviously don't know how many countries you have lived in or worked but to be fair, most countries believe, to a degree, that you can achieve anything you want if you work hard enough. It's never been something that only happens in America. Although it is apparent that Americans believe their country is the only place on earth that you are free, and that you, despite your heritage, can achieve anything.
But one thing differs in all other countries. The others all know that it's BS. In contrast, Americans think it's written in their constitution.
Grant Adamson show us the income inequality graph of some of these other countries. Maybe Venezuela, Cuba and Mexico?
Actual : “middle class is barely distinguishable from the poor”
Yep that’s me
Yeah my cousin is like a doctor and she told me that she isnt making enough. SHe said she makes alot of money and her income is considered really good!!! but she said she feels poor everyday.
@@liamandmia8969 that means she is probably in student debt
@@chili_boi2537 obviously It wasnt like this for doctors or lawyers before :) and you can pay it off easily afterschool now its like you can spend an entire life and you cannot pay it off. Thats why its soo funny I laught at the land of Murica.
Even as a Doctor you can make really good money :) I met doctors that told me how they were making bank money out of school and they were telling me how it was amazing because they have a schedule and could go on vacation often and anytime and student debt was like nothing to them (not like other major in the field) Anyone of middle class make shit money now like they are poor, and doctors and lawyers used to be considered well off like you can easily rack up 2-3 times the money of a regular person ;)
Its not just student debt, you are just dumb
Jay P if you become a psychologist (mainly a clinician who is a therapist) I can guarantee that it’s much different than the average doctor. They can’t take vacations whenever they want (you can’t just leave clients in the dust) and it’s hard to pay off debt.
I’d rather be the “poor” in this country than anywhere else
this is depressing when you consider how many people don’t comprehend this
I understand this because I’ve been broke my whole life and might just die broke 😅
So many people... I just don't think people understand the difference between a millionaire with 2 million dollars or something and a person with literally 100x that and more... Even that figure is nothing compared to billionaires.
What's the difference between a million dollars and a billion dollars?
About a billion dollars.
The most worrying part is how many people who don't understand how much of a non-issue this is.
Personally, I’m not even sure _how_ you would comprehend this. I don’t mind having incredibly wealthy millionaires or billionaires in the us, but I do think that the lower 40-60% as shown as the “reality” is astonishing
you have to repost this video every year. Maybe some working class will get some class awareness
This dude made a TH-cam account, posted a video on the same day, then left never to be seen again
.
lol ikr
A true hero
@@YouViolatedTheNAP would socialism fail if we would be all christians instead of capitalists?
@@YouViolatedTheNAP so why does the bible say: "and those who will deceive others with usury and the system of interest will be exterminated by god"?
God won't forgive your sins on judgement day... never forget that.. but you can repent your sins and trust in jesus
@@YouViolatedTheNAP religion has more to do with societysystems then you think young padawan...
Showed this to my high school students today. Best moment: A student who has expressed hypercapitalist and individualist tendencies had an epiphany: _"The top 1% couldn't have earned their money because it's literally impossible to be that productive."_
Nearly every billionaire on the planet started off life born into being at least a multi-millionaire.
I’ll be showing this in my class as well. Make sure you correct the socialist comment- socialism doesn’t mean equal wages. If I could edit that line out of the video, the video would be perfect, albeit outdated unfortunately
Of course, it's because of smart use of inheritance on multiple generations.
Yeah it’s not being productive it’s taking advantage
@@bona-fidebowers2119 Of course it is. You'd be naive to believe it's just productivity.
The sad part is that this chart is very out-dated now. It's a LOT worse now.
Oh yes. Last year, the top 1% saw a higher growth in wealth than the bottom 33% OWN.
+StarryEyedBanana The top 0.1% now have more wealth than the bottom 90% for the first time since the great depression.
#FeelTheBern
+Evan Wright If you think the answer is adding another 18 trillion in debt I have some beach front property in Arizona to sell to you. Taxing all the money from the rich won't achieve Sanders pipe dreams.
musicisfree91It's not all that he's planning on doing.
My 8th grade teacher showed our class this video. At the time, I was a kid who was caught in the fairytale web of meritocracy: I felt brilliant, special, and I was beguiled into thinking I would one day become a millionaire (or even billionaire) if I stick to working hard. This all seemed real to me because I was a ‘bright’ kid.
In high school the truth started to peek through. When I started to think about college, I realized that my school didn’t offer enough APs for students because of our district. We were lower budget or something, and had a pretty low graduation rate compared to the richer area’s schools.
I realized that even more in college. When I was working so much more than my rich friends, just to get by, and that I would fail classes if I did the things my friends did.
I am thankful for that teacher, even though I didn’t fully get it at the time.
Hope everything improved since then!!
@@oddfox6776 I’ll be honest, no. But I feel that I know myself and my goals much more now, and I am working toward a ‘less compromised’ life. Sometimes it feels like the water is reaching my neck though, and I am just happy to stay afloat.
Ah, well. I hope to check back in 5 years or so and be where I wish to be. At least somewhat.
th-cam.com/video/VzohcUxl-QI/w-d-xo.html
th-cam.com/video/UEbJgITII6I/w-d-xo.html
good video for u
It doesn't matter who wins. Neither candidate will try to fix this
well one works for wall Street and the other comes from the one percent
Because there is nothing to fix.
Yellow Jelly there are a few things to fix. Or at least even things out a bit.
+Yellow Jelly if you believe that this country is perfect then you're a fucking idiot.
powerplayer75 If you believe I said this country is perfect then you're a fucking idiot.
2021 now, almost a full year of pandemic and inequality grew massively just this past year.
My grandfather always said, Find a man that has a dollar he didn't work for and somewhere there's a man who worked for a dollar he didn't get.
luvcheney1 disagreeing and calling someones father an idiot are 2 VERY different things. One does not have to insult to state their beliefs.
luvcheney1
Not only is your attitude insulting, but you have the grammar (Daddie's vs Daddy's) of a third grader, as well. Should we even pay attention to your postulate given the glaring holes in your grasp of economic reality? By the time you realize that you need to reeducate yourself, the opportunity to do so in this country will be gone, and it's "idiot's" like you, who have voted all along for this type of status quo, who get just exactly what you deserve.
I all state was something from my past and let a scared child you spew hate and isult so there's no credibility in you as far as I'm concerned. Go adjust your tinfoil.
Skooter McGoo The argument is true but not in the way your grandfather thought, since there are many non working males from lower income households receiving government benefits at the expense of people who work and pay higher taxes.
That depends by what you mean by a dollar that wasn't earned. I dont believe those exist. You dont just hand somebody money. If anything the poor are getting money they did not earn in the form of welfare. They are getting money because they are useless or barely useful on the big picture.
Anybody that says jeff bezos did not earn his money is an absolute idiot. He serves much more people than a fast food worker in the form of his own company that he created and invested in over the last decades. That company does the most work out of any company on the planet which is why it generates so much income. He has earned every penny it makes even if he does not actively do anything by setting up the system that makes it convenient for others to buy stuff online and get it shipped to their doors all across the planet. You cannot say that he did not earn the money.
Bro uploaded a banger video and dipped 11 years beforehand
oh boy. if only you knew back then how much worse things would get
and standard of living has gotten markedly better for all americans.
things have gotten much better the fuck you mean? the info used in the video is from 2009 when the 2008 recession was still fucking people
People are so uneducated. Wealth itself means almost nothing. The thing that actually matters a lot is resources. In terms of resources the top 20% only use about 30% of the resources. That means things, places, food, and pretty much everything else. So how did it get worse? We have more products, better products, and more resources than we did back then and the average quality of life is higher than it was back then. I can’t believe I even have to explain this... is everyone 5 years old? When money is sitting in the bank that means the value of each dollar outside that bank goes up because the entire value of money is based on the resources you can get with it. Once again... is everyone 5 years old?
I'm just wondering how bad people are at math that they think the top 20% should have less than double the wealth of the bottom 20% who are basically perpetually broke and indebted losers with negative net worths.
Is the ideal America really one where we're all broke and stupid?
@@ordinaryhuman5645 That's definitely the goal of the top 1%- To secure as much wealth as possible and keep the bottom at the bottom.
I've used this in my courses for years. Would love a 2020/2021 update video since it has gotten so much worse :( I just tell my students: "you think this was bad? Oh, it is so much worse now."
Don't brainwash your kids, wealth inequality isn't a major issue in this country when you realize that the bottom 30% of Americans are top 1% earners when compared to the rest of the world.
Our not so regulated economy has produced the wealthiest nation in human history. The poorest Americans have an obesity rate similar to the rest of the nation.
I've traveled to nations with wealth distribution programs, and most don't have the luxury of having the varied diet that even the poorest Americans enjoy.
@@trvth1s lol
@@BrandonYoungbloodPsych good lecture: th-cam.com/video/ffbgfFNu49w/w-d-xo.html
@@trvth1s anyone who “believes in capitalism” is not to be taken seriously homie
@@BrandonYoungbloodPsych Tell that to every prospering economy on earth bruh
Guys, the top one percent had 24% of the wealth in 2012. Now it's up to 31% after Covid. 9 year difference. That one percent is just going to keep hoarding and doubling their wealth. Support small businesses and stop politicians from giving the wealthy tax cuts. I don't think a maximum wage would be too bad either. Don't feel bad for billionaires.
I don't feel bad for billionaires, no reason to.
But, I'm thankful for many billionaires because they have provided me with a product that I have purchased with my hard earned money. It was a mutual agreement- he had a product I wanted, so without any coercion I gave my money to him in exchange for the product. A consensual agreement between us.
If you don't like the billionaires don't buy their shit; then you'll show em .
Do you expect their products for free?
@@gasoven3759 Why would you think anyone expects their the product for free. The problem is not them creating the company and products it’s them taking more than there share. Without their employees they would be nothing. No one can work and contribute enough to society to be a billionaire. They are under paying and overworking their workers. Amazon for example. Bezos wouldn’t have to work at all and he makes an unimaginable amount of money everyday. More money than anyone could spend normally. People see amazons prices as a good trade for the product and the service. A logical person should expect that that money is fairly given to the hard workers responsible for the fast shipping times. The most successful companies and billionaires aren’t successful if their employees can’t live comfortably (basic necessities, not paycheck to paycheck). That’s cheating your way into being “successful”. That’s stealing your employees wages. No one deserves billions of dollars.
The top 1% didn't become rich because of their wage. It is mostly capital gain. They pay other people to work for them. Stop blaming them, blame the politicians who spend our tax dollar like it is paper.
@@katrina_wolf If you created the plan. Was responsible for the risk. Employed people at an agreed upon wage (not forcing someone at gunpoint to work) then I say yes they do deserve billions, because they earned it. Most (almost sll) their earnings are compounded growth from the stock market. Everyone who invests are worth more, some more than others. The constitution and the declaration doesn't ban someone from being a billionaire, nor does it say everyone will be equal in all things. We are entitled to life, liberty and the pursuit of happiness.
@@gasoven3759 the thing is, I don’t think they deserve billions. Millions is ok but every years the top 1% gains more and more wealth in comparison to the rest of the country. A functioning capitalistic society cannot work if we keep going in that direction. It doesn’t matter what you think they deserve
The really needs to be updated. Desperately.
Who wants to argue about wealth inequality in the comment section of this TH-cam video? I sure do. I’m going to oversimplify my generally uninformed beliefs into 2-4 short sentences and start an argument with anyone who disagrees with me. This should be great fun!
You're wrong.
(Did I do my part right?)
rivahkillah
You the big gay
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There. I've said it so many times that there is no possibility left of me being wrong. I better add some large words so that you will be forced to look it up and therefore declare my veracity and intellect. You are an addlepated inebriate you proletarian Bohemian. I clearly know what I'm talking about with a name like "Captain Munch". Btw, I won't leave this thread unless if I have the last word.
Captain Munch liar lmao
John Sandoval I fight you, you fight me, let’s have a verbal argument on the count of 1, 2, 3. With a curse and a cuss and an uniformed thrust, I’m going to shame you just wait and see
Socialism is not communism. This video was way off on that. Socialism implies that workers get a say and hold significant stock in the company they work for as to prevent extreme inequality. The incentive to try and make money still exists.
+luvcheney1 Black listing of products is why Tesla doesn't sale! AutoMafia Dealer ship union keeps them from even entering most states. No evidence of a neo nazi cartel controlled society.
+DynamicUnreal it is called DEMOCRATIC SOCIALISM ... as in "we the people"
+luvcheney1 it means not having 1 huge investor and instead multiple investors and multiple people on commitee
+luvcheney1 Right. Governments should not regulate business. I agree with you on that. Intervention is oppressive in this case and we are against oppression, right? Free markets. Sounds quite free. But, what about the intervention of employers and managers in companies then? They are as oppressive as a monarch. In fact, it wouldn't be wrong to say that conventional companies are structured just like monarchies. Underlings (in this keys, they are all of the blue collar workers and most of the white collar workers) don't have a say.
Hence you are against the intervention of government so that the wealthy can exploit easier :) Like unleashed rabid dogs...
I am against any kind of exploitation. When there is hierarchy, there is exploitation too. Hierarchy consists of superiors and underlings, authorities and submissive subjects (actually a subject in this case is being degraded to being an object). Fine, state shouldn't be an authority over companies, employers, entrepreneurs. But they shouldn't be an authority over their workers too ;) Guess how would that be possible? Democracy in companies? Vanishing high-level titles and classes in a society? More freedom and equality? Being against the oppression and intervention of the states (and maybe their very existence) is quite noble, but whining about regulations one sided seems quite ridiculous.
+luvcheney1 what if the all employers came together and decide to pay low wages for all their workers , then you can't choose to work where it's better , because their is no better place in the first place, is that fair ? should the government intervene ?
ps : i invite you to research Airlines, ISP , Banks Cartels
I am in the top 1% - and even I can see that this just wont work in the long run. A wealthy person who make $10 mill a year still only buy 4-5 pairs of jeans, 8 movie tickets and goes to the restaurant once a week. For the wheels to keep spinning the wealthy person would have to buy tens of thousands of pairs of jeans and movie tickets. If I dont pay a decent salary to my staff, how would they ever be able to afford the products my company produce? A high minimum wage means that the big business machine keeps spinning. And giving tax cuts to us rich people? Why?? We already have 100 times more money than we can ever spend, so why would you want to give us tax cuts??? That makes absolutely no sense at all. If I make $1 mill and pay 50% taxes - I still have $500,000 and that's still enough for a Ferrari, a mansion and 3 months of vacations a year. So why would anyone in their right minds give tax breaks to the rich??
+Torben Rudgaard
You are such a rare, but valuable voice, Torben.
May I ask what do you do or where you've made your $$?
+Torben Rudgaard Wow, are you hiring?
+Torben Rudgaard You're a rare person. =]
+Torben Rudgaard anyone who cares enough to do something about it would not be in the top 1%
I know you've been asked this , how do you get there? I am honestly wanting to elevate myself for personal reasons and I have no idea how to break through the barrier.
What this chart tells us is that America is NOT the land of the free. It's the land of the Uber Wealthy and maybe a heavily in debt middle class and a very, very large Poverty Class.
What America has become is similar to Medieval/Feudal Europe. A time back when most of the wealth was valued in Land and the Crops that land generated and could be stored and turned into food and the excess sold. That period had a Class of Wealthy called Royalty and their claim to the land was typically hereditary and multi-generational.
The First Born Male child would essentially become the New Land Owner or Landed Gentry or Land Baron upon the death of his father. The entire estate would be transferred to him.
And younger brothers would occupy lesser positions or titles in that Landed Barony and would be vassals to their eldest brother and then that brother's eldest son. They would receive a security, an income and a residence or a place in the main "Castle" or central residence, but they did not control it. Their functions would be some level of support or service to their eldest brother, perhaps in charge of the Men of Arms, or Tax Collection, or maybe head of the Merchant or Trade Guild. They would be trained in those skills needed. Weaponry and fighting and tactics, or tax collection would require math and language to calculate the amount of tax a peasant would share with the Lord, and record that in the Barony Ledger for "legal" proof of tax payment, or they would learn that Trade or Skill in manufacture of some key products like metallurgy for all sorts of implements, weapons and structural devices.
The bottom and most numerous would be the Peasant or Serf, essentially the people tied to the land, as farmers or millers or dairy men or perhaps hunters and basic infantry or fighters in the Men of Arms. If skilled, Men of Arms would enjoy a higher rank than the infantry and the peasantry.
See? Are we not replicating the Feudal System all over again? OR perhaps some elements of an Oligarchy?
Democracy is hardly our true type of government and economic institution. And we are far, far removed from any egalitarian Socialism.
We are living in a Modern Feudal State or modified Oligarchy.
I wonder what is the condition
In my country INDIA
Most money is in the pockets of the government officials
My grand dad was beaten to death just because he didn't sign a paper as a proof that a construction was completed which was not.
The person incharge kept the money created false documents and got everyone to sign on it
My grand dad refused to do so
And hence met with that fate
In fact, India has a lot less wealth inequality than the US
Sorry about your grand dad. Really. :(
fate*
That is... really brutal. I am so sorry for your Grand dad.
what, you must be kidding hahahhahahah
I've seen this video many times over the years. I've seen in a lot of my classes and in my own free time. No matter how many times I come back I am still amazed at the reality of country. This should be in everyone's recommended feed instead of random useless videos from 9 years ago
You don't deserve even minimum wage.
That's why Republicans started "Trickle down", to speed up the transfer of wealth from the workers to the 1%. Forty years ago, and it has been working very, very well. But what do they focus on? Immigrants and drag shows, anything but the wealthy robbing The People blind and the fact that the wealthy barely pay any taxes as a percentage of their incomes.
I've watch this video so many times and I still can't believe how much more money the top 20 percent has.
Numbers in a bank roll somewhere, virtually meaningless. It's not like Bezos is free to spend all $300 billion or whatever, he is merely the chief responsible individual for a large estate.
Gorky D whatever helps you sleep a night bro
Gorky D
Money is not meaningless, and this video was made before Bezos was super rich too. He’s just 1 guy...
@@brettcarter5142 Money is not meaningless, but definitely exaggerated. Its not just mathematics; $100 billion is not simply 1-million times more buying power than $100,000 because by the time anyone gets close to $100 billion they will have developed their own unique infrastructures. Like Escobar was not just 1 man, he was the kingpin of a drug empire, Bezos is not just 1 man either.
Gorky D
I don’t understand your logic, “they will have developed their own unique infrastructures” so their money’s buying power is somehow different?
100 billion is simply 1 million times more buying power than 100,000 to put it in your terms.
Buying power doesn’t go down or start to get weird value as wealth goes up
I remember 4 years ago, I lost my low cost health insurance because I got married. I was forced to pay 20% of my income toward my health insurance. Meanwhile the CEO of UPMC ( the company that I was paying insurance to) was making more in one year than what I would make in over 300 years at my income at the time. Something was terribly wrong with that !
To play the devils advocate for a moment, what if that CEO caused multi billion dollar increase in profits by his unique management style? How much would you pay for him. Thats the reality of the situation, even if the figures are mind boggling.
Supply and Demand my friend. Thats what runs the world. Top CEO's are few are far between, and thats why everyone wants them. I doubt anyone could do what Elon has done for both Tesla and SpaceX. And naturally, with him owning a large share of the company, his net worth has exploded. It's tough to draw, enact and generate support for legislature that can bring the Gini Coefficient down, and "solve" the problem.
How do you tax someone like Elon? He doesn't spend money. He doesn't get income, and he doesn't buy and sell monetary assets. He himself suggests a high consumption tax for billionaires, but thats unlikely to happen anytime soon. When he bought Twitter, and had to sell Tesla shares, consequently paying ~$11B in capital gains tax. Loopholes to go around this just need to be closed, but its probably not as simple as that.
This is what happens when corruption is legal in a democratic country. And what makes corruption legal in America is just a name : lobbying.
It's called capitalism, the rich get richer and they make the poor richer. Without the rich, the poor cannot make a penny
TinyRodent
they can...work for the rich then start a business and compete. The rich didn't get there out of nowhere.
Ah, yes, the trickle-down economics mindset. You hold onto that, because the reality might be too traumatizing for you.
***** No sir, it call go out there get it. Not, sit on your as demand shit
Liem H Did you have a stroke? I told you it'd be too traumatizing.
I watched this whole video thinking it was recent info but it’s 7yrs old
"Let them eat cake"
"Turn my hair into a boat, thanks"
I am surprised that nobody has said so, but she never said that. Still, that quote applies here.
@@Baba-yv6ml When you say she, was it princess Ann who has been quoted with that saying?
Indeed well applied:)
@@carlovincetti1352 Yeah, that's who I mean.
@@wedoalittlemonkeybusiness6545 No no no we need to bring back Tar and Feathering.
When I saw this video for the first time, I instantly stopped being a libertarian.
People say that we need to work harder and educate ourselves financially. I agree with that statement. When you’re working a minimum wage job it’s hard to focus on that sometimes when you’re struggling to get by. Of course you should try to educate yourself but not everyone has that opportunity. People are working 40 hours a week and not even making enough to get by. The fact is in the 1970s a person with a high school education could get a job that pays enough to buy a home and support their family. Now, that’s not as realistic as it was back then. The middle class should be the largest group in the country and the strongest and it’s simply not. The wealth inequality right now is similar to what it was right before the Great Depression.
Good perceptions.
Absolutely agree.
And: forget about educating yourself when you are continuously thinking about what your next bill is paid with.
Studying must be as affordable as possible and not some money machine.
As a young person, how do these people think they can afford to let young people study? They have no money, they are just barely starting with their lifes, for gods sake...
And when they are finished they are several tens or hundreds of thousand of dollars in debt?
Yeah, the American dream... More like a nightmare, if you ask me.
Watch gram Stephan on TH-cam, he makes it very clear what you need to do financialy
@@senseiadam-brawlstars9465 When you are on minimum wage or below you have no options to do anything financially.
That is what you people don't get ;)
@@ferrari2k then get a higher paying job than minimum wage. There are plenty of low skill jobs that pay higher than minimum wage (like $15/hour.) You can then start investing from there.
A statistic that I recently saw is that 25% of all Americans could not find $400.00 in an emergency, that is scary.
I grew up as part of that 25%
we had no money in savings yet mom could always find the cash to take us on trips to give us "good memories of our childhood". All I remember from my childhood was having to eat Hamburger Helper without any meat in it because we were out of food at the end of the month.
@@redtsun67 I just don't get why Americans can't realize that the inherent problem is capitalism, and it has always been a problem for the United States. It connects to almost every single problem, ranging from housing, to labor violations, to economic inequality, unfair taxation, the list really goes on.
The thing people fail to realize is that you can have a democracy while also having a socialist/communist economic system. It would fix so much, and people who have lived in, are living in, and will live in your childhood's circumstances would have a much better life.
@@verifiede4125 You think capitalism is the problem because you've never once picked up a book on economics.
My childhood was the way it was not because of capitalism, but because my mother could not manage her money properly. The money that could have been spent on food, or saved for an emergency, was instead spent on crap we didn't need. Vacations to the beach, expensive birthday parties, ordering takeout, or maxing out the credit cards to buy christmas presents. All the money she spent on that crap could have been put into a saving's account, or put towards bills.
@@redtsun67sit on a picket u dimwit
@@redtsun67
Ah yes, the "well the poor just need to spend money better" argument. Not only is this a morally reprehensible argument, but it's also very ignorant and serves only as an excuse and a scapegoat that holds no basis in reality.
You very clearly do not live in any disadvantaged positioning, because otherwise you would realize the inherent problems with capitalism. Capitalism is designed so that the wealthy are happy, the middle class is somewhat happy but becoming lower class, and the lower class is unhappy and suffering.
Tell me, under socialism where food, housing, water, education, and healthcare is all free, would your mother have to worry about spending that money on those things that should be considered human rights? With a UBI in place, would your mother have to worry about quite literally anything at all when it comes to financial struggle? The answer to both of these questions is a flat no, but you're going to disagree because "well socialism never works!" If socialism never worked, the United States wouldn't have tried so god damn hard to suppress it's upbringing in other countries. If it's bound to die naturally, then why not let it die naturally?
Capitalism. Is. The. Problem. Period.
This video will forever shape how I see our country, and I'm sad to say that almost 8 years later and things have gotten worse, not better.
Sucks to be you. Why haven't you moved to Canada or, better yet, Russia?
@@fiddlyphuk6414 your pfp would probably say the same thing..
@@mitchellrice9732 Pfps talk to you? Get off the booze and those drugs you're on.
@@fiddlyphuk6414 Riiiiight because wealth inequality is lesser in Russia. Let me guess, your advice to slaves would be “go to Canada or better yet, Mexico” instead of staying to fight for the betterment of their country?
@@wildfire9280 There's no place better to be than the USA. Just ask all the illegals leaving their shit countries and crashing our southern border to be here. We got rid of slavery years ago. Try and keep up here.
How many of us were recommended this video after… Luigi? 👀
Im a 100% disabled Army veteran.....im struggling on 'disability' income.....my rifle may have been pointing in wrong direction...
It should have been pointed towards true enemies, but you'd be labelled as "domestic terrorist" and no one wants that label. That label means death to you and everyone you ever loved.
Well why the fuck did you join the military? No country ever cared for their veterans including those from world wars 1 and 2. Even when I was a young teenager it was obvious that joining the military was a bad deal and I'd only be selling my health to fight for the fascists in Washington. Don't blame wealth distribution on your stupid decisions.
Sad
@@Peglegkickboxer Anyone with such overly broad, cynical generalizations is not worth serious consideration.
@@Peglegkickboxer : I agree, but that's a bit harsh. The person was following their heart.
Here I am watching this video thinking “how did we let it get to this point?” Then I looked at the comments and remembered what humans are actually like
Im sitting here reading your dumb comment thinking " He must do a ton for mankind" LOL
@@sulliedgoat620 He's not trying to say he's a hero or something, he's just acknowledging the retardation in the comments.
Fucking idiots the ones that are advocating that the poor are just dumb(which could've been a reasonable argument in the 50s, but calling out for that today) those are some of America's biggest retards
@@sulliedgoat620 Leftists in a nutshell.
This is how capitalism works, what did you expect? This is the end run, next step is facism. Or feudalism.
Would love to see an updated version. I believe the 'what people think' version would be closer to reality than before and further from the ideal version.
Perfect time to start recommending this
Lets be honest; with Elon Musk and Jeff Bezos on their exploding company stocks this probably looks even worse now
Def much worse
It's unstainable. A revolution is inevitable or either that, societal collapse.
The billionaires hoarding wealth is the only thing holding back inflation, but your 90iq can’t grasp why
@@edubbya I agree, but with the boomers dead in the near future, inflation will be extremely low.
@@edubbya Really? A factual statement backed by nothing but a depressingly defficient attempt at name calling?
I will remind you that IQ has nothing to do with what I presently know, just what I can learn. That fact, by your own logic, would give you a less than average IQ.
Pursuit of Happiness/Ownership of Property is the third inalienable human right, _after_ the rights to life and liberty. If your pursuit of happiness causes someone to suffer, you are violating their rights. For this reason, "it's the only thing holding back inflation" would not be a reasonable excuse to hoard wealth and cause suffering, even if it was actually true.
Economy can never come before human well-being.
You ought to be ashamed for even bringing that up as a point. If you genuinely believe that hoarding wealth is justified by slowing inflation, you might want to check your own _EQ_.
and now, going into 2019, Bezos is that entire Red bar.
Its kind of crazy how I'm almost not even joking about that..
@UsualVinity I'd have a hard time believing anyone "deserves" multiple times more than they could spend if they tried. I'm sure you could convince me a revolutionary man is worth at least 100 million. But 170 BILLION? It's somewhat impossible to rationalize anyone deserves that.
UsualVinity why are so many of you guys so brainwashed into defending the wealth inequality in America? Do you think Bezos is going to write you a cheque for your little speech? Think again
UsualVinity you are right. Who will help more people Jeff bezos with a billion dollars or some random dude with a billion dollars
@UsualVinity worked hard? You mean exploiting workers? Amazon workers are payed and treated like shit with his money he could at least time them better facilities and pay all of them even a little more than minimum wage
You people are delusional. It's not a matter of 'Deserving' anything. It's a matter of 'Risk & Reward' and keeping what you 'Earned'. This is how the world works. 90% of the things that you use every single day would NOT exist if it weren't for that concept because people wouldn't be incentivized to get up, work and invent things throughout the course of history. If this man was creating and developing a company across multiple decades and now it has finally blossomed garnering him billions of dollars because of all of the hard work and dedication that he has put into it then he should get every single penny that comes out of it. And the same goes for any other rich and successful people who are now eating the fruits of their labor. You guys need to stop with this whole notion that you should be getting handouts from the rich just because you may feel bitter about not having what they have. How about you get up, create a plan and you yourself try to become the next Jeff Bezos!
I remember seeing this in 2014 and being amazed. I was surprised to see it now in my Recommendations, and apparently not only mines. This calls for an UPDATED VIDEO! Curious just how much that inequality modified over the past 8 years.
It got much worse. The FED bailed out the rich and added debt to the general public to do so.
You were robbed twice in 2020 along with the 40 year cycle of capital crushing labor's share of GDP.
It's only gotten worse as you might imagine. A long shot from the worst it's been but worse than it was in 2012. Going by the 1% metric it's now closer to 45% (at least above 40%) of the wealth instead of just below 40%. If the trend continues we'll be where the robber barons of the late 1800s were in about 20 years. Jeff Bezos's net worth is pocket change compared to folks like Andrew Carnegie.
Overall, the bottom 80% income has either remain static or actually decreased in the past 8 years. That's a big oof. Imagine being a janitor for your entire career and end up making less money at the end than you did at the beginning. Ouch. Only the top 20% have seen increases to their incomes.
Now here's the important question. How exactly do you go about fixing this growing divide as nothing the top 20% did is inherently wrong or illegal? Tax the crap out of them? That has proven to only work in the short term. I honestly don't have any good solutions.
@@LiveType Rockefeller inflation adjusted was worth $400 billion plus. But don't worry, right wing loons will keep voting for policies which ensure Bezos soon gets there. Ugh
Well to put it into perspective. The wealth was distributed more just before the french revolution in France than it is in the US today...
@@Motholdet
Welp
Lets all go watch the OverSimplified video on the french revolution
This is why the top 1% can afford to give away so much money "for a good cause" because in reality they only give away maybe a few of their green squares, but those few green squares are literally life-changing to someone in the bottom 50%, who only have a few green squares to begin with, if any at all.
Even that is often a marketing strategy that ultimately nets some parent company a profit by advertising their values. Don't be mistaken by modern day philanthropy.
@@pattyspanker8955 And they only give away what nets them tax breaks for giving things away
I do and I do not understand the meaning of working hard. Do you mean, leaving home almost every morning at 6 am and come back at 6 pm and because of "hard", this means tired, then just keep sleeping on weekends? Finally, what life is that? We should work to live not live to work.
@I. S it doesn’t have to be this way, but it is because of the people to believe this is “natural” in terms of human evolution
@I. S it doesnt have to be that way. we can work together to create a better world. I dont understand how you can look upon the world and say "you deserve this suffering"
@I. S no one disagreed with that? thats the problem that we are trying to solve i dont get ur point. i think you misunderstood what they were saying, they werent saying that its our fault we live to work, but that we should change the system
This is capitalism. While the aristocracy benefit from our labour and keep getting richer it is us who are dehumanised and left with the crumbs day by day. Democrat or republican they both are only fulfilling the dream of the bourgeoisie which is to extract and imperialise this planet into nothing. I hope u open your eyes comrade
This is why I stopped working, not worth it when you think about it
I'd really like to see an updated version of this because I know it's gotten worse. I think the lower 40% need to see and understand we aren't actually that different from each other and shouldn't be bickering over table scraps.
TH-cam recommendations are hitting different since Luigi's incident
What's particularly striking to me is how even some of the most dim-witted, blissfully brainwashed conservatives are starting to see through the bs and not only actively celebrating Luigi's heroism, but even calling out right-wing pandering, like Ben Shapiro, in a genuinely impressive instance of them going: "Wait a minute... it's all elitist propaganda?" as what might hopefully be the first step towards them acquiring class consciousness. _Hopefully._
Even so, of course the vast majority of the truly zealous, unrelenting and outright religiously brainwashed conservatives did not even quiver for a second in their resolve and cult-like convictions. It's already too late for them, sadly, and the amount of americans that actually fall into that category is still extremely concerning.
I need a small loan of a million dollars.
I need a small loan of 2 dollars
@@krpapapa8182 Congrats.
@@andersonandrew112 Boy, if I had $1,000,000 I'd go broke in ten minutes!😉 I'd be happy if I even had that kind of money!
We all do. We all do.
@@andersonandrew112 Except the small loan story is a proven lie. Trump has LOST money compared to inflation from what he actually inherited (vastly more than one mil).
this is because people donated to Kylie Jenner to become the youngest billionaire...
That has literally nothing to do with this
@@terenyi-szabomarton5034 a small part of the problem, isn't the same as "literally nothing". Learn the difference.
@@joewtjjoewp1 It's like talking about if the dust on a car changes the weight of it, but maybe even less so
@@terenyi-szabomarton5034 of course. You are absolutely right about that. I never denied that. Doesn't mean i'm not allowed to say what i said though. (this is in response to your 'dust on car' comment. Not the 'literally nothing to do with this' comment)
Clearly, my point is, that you can talk about wealth inequality all you want, but there's a significant amount of people who subconsciously support it by doing things like the example i gave.
Another example: i saw on celebritynetworth.com, that Kelly Rowland's net worth is 20 million usd, then i looked at the comments, and some girl said stuff like "this is too little for what she's worth! She's so underrated! We should all do something about it so this number is higher for her"...
And all i could think was... Really? So many things going on in the world, so many issues to be solved, and your priority is to make someone in the top 0.1% even richer?
I mean, i've seen this kind of behaviour again and again, and then these same people watch videos like this and scream injustice.
You sound like you've never seen or encountered any of these kind of people ever, at all.
Doesn't mean you have to act like Greta Thunberg screaming "How dare you!" in my face, simply for the fact that i DO have encountered people like that. I never decided to encounter them. It just happened. Do not point fingers at me for saying out loud what i've seen. I don't like wannabe-dictators.
@@joewtjjoewp1 These examples are not even close to the cause of the problem tho idk why you bring them up
I am really curious about how this chart would look for different European countries.
It won't be that big of a difference, sadly. European Countries are still a Neoliberal Capitalist Societies after all.
Mac Gruber well, I wouldn’t say so. There has been a tendency towards that direction but some still have really mixed and a more social democratic system
@@macgruber6739 There is just no comparison between the socially advanced European nations and your third world nation. And comparing mixed economy social democracies to failed communist states does not work.
Mac Gruber actually I think the distribution would be significantly different. Imo the middle class would be more represented. I don’t think that there would be that many “wealthy”, because of the taxes. The poor would also be more represented because of the social aid. But that’s just my opinion, based on my experience and knowledge
From Moldova, where the average salary is 250$ I am shocked.
the fact that this is from 11 years ago. I'd like to know the stats of 2024
I use this in my class and make my students find that exact data. Sadly it's even worse than what this video shows.
I haven't had electricity in nine months, and I'm currently living in a run down rotting trailer without water and hardly any food.
Ive worked myself to exhaustion in the summer heat and sun hardly eating or resting.
Only to come "home" to literally nothing but darkness and silence.
There is a serious issue with receiving such an awful paycheck every two weeks for the insanely hard physical labor I have to do every day.
How are you Americans still alive and not revolting? When people of my country knew about sausages the USSR collapsed. When 24 MILLION people knew about this video 11 years ago… nothing happened? Yeah, that’s what happens when you fight the communism for half a century, without explaining to people that it is all about equality and greater good. I wish you good luck my man, try to look for the wild nature survival videos, I couldn’t possibly imagine how bad your situation is.
Hey there. I hope things get better you.
May God bless you and help you. Remember, Jesus Christ is the best friend you can have! 😊
Pray to Jesus and perhaps he'll forgive your sins and give you a better life
Bro where you at where you're doing insanely hard physical labor and can't afford to get yourself into a better situation? Last summer I was working a landscaping job part time and making $25/hour. Literal entry level job.
@@redtsun67its not that simple
For those curious, as of October 2023, the top 1% holds ~26.5% of America's wealth.
Source: "US wealth, income concentration resume upward climb in post-pandemic era"
By Howard Schneider
Really? Can't believe
that may seem like a lot, but if you check how much they are taxed they are paying are 42.2% of taxes, this means can't be in favor of fairness unless you oppose higher taxations on the wealthy.
@@Mason-vi6dy Except the top 1% of income earners is a very diverse group of people. you can make a couple hundred thousand dollars a year and be in the top 1%. Many of those people do pay a lot in taxes as a percentage of their income. That is because they are not making the lion's share of their income from capital gains. The ultra wealthy do not pay a significant share of their income in taxes and they are the ones driving the political agenda in the united states. Additionally, you are assuming that the money that they are being taxed on was earned through a fair and meritocratic process. I knew someone personally in college whose family owned so much real estate they were making 30 million dollars a month in profit and she told me personally most of them worked very little. Statistics are useless without context.
@@Mason-vi6dy Obviously, the very richest pay much more tax, in absolute terms, than the middle-income earner. My understanding is that the middle-income earner pays a HIGHER effective tax RATE than the richest 20%. Since the middle class has become so much less wealthy in the last 50 years, and so less able to save, you can understand their kids being priced out of education and housing. You can also understand why the GOP Congress will repeal (and not replace) ACA, and make dramatic cuts to Medicare, Social Security. They will explain that the middle class can’t afford the tax bill. Trump will also give the rich a further tax break in 2025.
Make the video about India or China
It will blow away ur charts
No do one about north korea
You americans think your country is flawless. Once somebody thinks America is not so great, you point fingers or make up an excuse
@@reecewalesiak1223 you really had to say that they think they are flawless? Really. They know about their fuck ups and sht they argue with themselves and do stupid sht. They take pride in knowning that they aren't flawless. You are just another human being bitching to a country you don't live in or don't even know
Frosted Flakes ya we know we fat pigs
@@sethbrand4124 I'm not even from the U.S
It’s the realization of statistics such as this why you get generations “don’t want to work anymore” and are quiet quitting.
They don’t want to slave away their lives playing a game they know they’ll never win.
5:45 - "The average worker needs to work more than a month to earn what the C.E.O makes in one hour."
Show us the proof of that.
Common sense is your proof!!! Forget the Huge salary of a CEO, The average American's annual income does Not even come close to matching just the typical Bonus of a top CEO....yes, their Bonuses are more than Most peoples entire yearly income!!!
They're CEOs, they worked for that position so of course they will have a lot more money than the average American worker.
+Jamal Dabas We do not live in a meritocracy.
John Garrison Yeah, we kind of do.
Bernie sanders was my hope... There goes my hope... WE ARE FKED
Noah Roller And Trump and Hillary is gonna make our country fly? Lower taxes for the 1% who already own 40% of the nations wealth? No universal healthcare and free college like European countries have? US is full of skinheads like you scream USA but are just a little sheep of the big political elites.
Noah Roller Roads in Europe are terrible? WHAT? Roads, highways, and even airports and trains are WAY better than our infrastructures. I live NYC and i've seen the infrastructure all along the North East (the economic center of this country), and they are TERRIBLE. . . The subway is dirty and old, the system is old, the roads all filled with potholes because the government can't find the money to repair it, the trains are slow and unreliable, the airports are old and outdated.
Have you seen the infrastructures in Northern Europe? Look at Netherlands highways or the high speed railroads, or lookup European airports, many are rated top 10 worldwide, while American airports barely make it in the top 100.
Bernie Sanders said this many times that we need to spend a little less (from our HUGE) military budget and invest them into infrastructure, education, and healthcare. You know, the stuff that actually affects us and not the proxy wars in the middle east that benefits no one but the big elites.
Northern European countries have the highest standards, so idk what youre talking about. Denmark is rated the happiest country over and over again, and Norway has the world's highest HDI index along with Denmark, Netherlands, and also many other European countries.
I live in Norway, wich is an Europeen country! And I do Agree with ARVIN! And yes the taxes are high, but everyone has enough, even if you have the poorest job ever. And everyone are happy with their life (and nature) even the poorest, and guess what! No one lives in the street only immigrants and stupid b*tches hwo sell everything they own to buy an [insert valuable item here]! Search for: ''best countries to live in'' on youtube, i think you will be surprised (I've been to NYC before BTW)
Carlium I wish America will adopt the Nordic model one day, or at least have some states (the more liberal north eastern states and west cost states) to adopt it. I hate to walk the streets of NYC to see homeless people everywhere, yet were walking beneath a billionaires condo where a pent house unit costs around $100 millions. Or to see our crumbling and destroyed infrastructure with no proper funding whereas our military and foreign military aid is HUGE. Maybe one day.
ARVIN I know that the Nordic model is somthing MOST countries want, but you can't get that model in a flash, it takes years before the model can be fully adopted. oh and Noah Roller Just becouse they drop out doesn't mean their bad at everything, they're just tired of learning. In Norway you have more vacations than USA, and therefor it's easier to drop out of schools or quit working.
Please make an updated version!
Just realized where I am on the chart. Depressing.
Well now it's even more depressing than 2012. The richest three individual persons; Gates, Buffett and Bezos own more wealth than the lower 50%. That means 165 000 000 people have less wealth in total, than the richest 3.
but..but..but Venezuela! Bernie tryna turn us into Venezuela remember XP
Jake Kilka we can only hope less unemployment and tax cuts can change the wealth inequality. 4 more years.
@@JakeKilka Yea bro, but u have to remember that those people provide almost 1 000 000 workplaces in all around the world(not counting subcontractors, it could be multiple times more than this number)
In my country workers in amazon earny almost the National avarage(you need 0 education to work there), and in Microsoft, probably more.
@@rakerk6458 you dont think people would still be working in spite of them lol, its not like people didnt work under socialism or better yet in every society in history
There are some rich assholes that spend extravagant amounts of wealth on pettey personal pleasures; but, the majority of the top 1% wealth is invested in business. In other words, it's not cash sitting in the bank, but buildings and inventory.
That's not something positive; that's something that shouldn't be legal
ApplepieFTW What shouldn't be legal? Spending money or investing it? I can't think of anything else you could do with it.
ChrisTiam Most billionaires aka slave owners are typically lazy individuals who benefit from the low on the totem pole workers who are actually hands on.
Average Joe I work a full time job as well as a part time job. I also have 3 years of college under my belt. I respect your opinion but unfortunately greed is a problem in the world if you don't see that your an idiot.
ChrisTiam Capitalism mainly allows the privileged to advance more so than anyone. Stop being so gullible dumbass
how can any reasonable human being be okay with this?
because of the crappy education system, by that citizens could not realize they are getting screwed by the top 1%
@@Charles-hy6gp cause the 1% doesn't want them to be like them basically mercantilism. They control the education system as well.
Nobody is willing to change the system, because they've all been duped into thinking they will get there one day, but sadly, they won't. :(
Hint: it's the unreasonable humans that are the super rich.
In 10 years, the top 1 will percent will likely own 90 percent of the country's wealth. They could steal your land, your cars, and even your family if they wanted to.
Thankfully this video from 2012 highlighting the wealth inequality in America is about a problem that doesn't exist anymore. So glad in 2024 we have fixed wealth inequality. Great job guys and gals
"But those people worked hard and DESERVE all of our money!" "But theyre self-made!" -_-;
When taxes are raised to help people out of poverty it's called "theft"
When workers are only paid a fraction of the revenue that they generate for the company, and the rest is pocketed by their employer, it's called "entrepreneurship"
@@franklinbadge1215 spot on
Jeff Bezos, the wealthiest man on earth, is self made, he started his business in his basement.
Now he employees 1.3 million people, with many earning 3 figures, and the companies minimum wage is at $15/h.
Don't let envy overcome logic. Envy has destroyed nations, i've seen it.
The poorest 30% of americans are the top 1% income earners in the world.
@@trvth1s okay, so everyone should just be happy with their lot? Poorest Americans still have shit lives. Logically, we as a society should be doing all we can to help the majority of people have as good of lives as possible. That being so, these megacorps can stand to pay their lowest paid employees far higher than what they do. There should not be many orders of magnitude difference in the pay of the lowest earner vs that of a CEO. And yes, Bezos takes a 'modest' salary and generally pays higher than the national average, but it's still not enough, especially in very high cost of living areas. And I'm not just singling out him here, but every megacorp needs to pay more. They follow the capitalist credo like it's their bible, sure, but at the cost of people's lives. You're paying the company your time and your life to be paid in return with mediocre wages? Sure, that's great.
Also, Bezos is not self made. Do an iota of research before making claims my dude. His parents provided him a $350,000 loan as startup capital. Who the hell has opportunities like that? You're telling me just any old Joe schmoe can be that well off just starting off? Give me a break
@@bagelbytes69420 countries should watch out for their citizens with net protection programs, but that has a cost.
If that cost falls on corporations and it makes doing business in said country unprofitable, they leave. And countries with no corporate back bone are 3rd world poor.
Scandinavian countries have no minimum wage and a lower corporate tax rate than the usa; files.taxfoundation.org/legacy/docs/Progressivity%20of%20Scandanavian%20and%20US%20Income%20Taxes.png
These countries pay for a lot of social net protection programs, but they do so mostly with massive natural gas and oil reserves coupled with the low cost of the programs thanks to their city sized national population.
Amazon pays many employees 6 figures, and their low skilled minimum wage employees are at $15/h minimum, that's $30k a year for low skilled work, for reference if you make $30k a year you're one of the 1% wealthiest people in the world, this is the type of economy USA has produced.
Greece, Puerto Rico, Venezuela all got greedy and jealous of corporate profits, they all raised taxes so corporations left, look at the results.
In usa 88% of millionaires are self made, most through years of hard work and paying into 401k type plans.
You cannalways make things sweeter in usa, but don't destroy the good in the process. The road to hell was paved with good intentions
Reminds me of what happened in the Russian and french revolution.
When the majority become so poor and have nothing to lose they swarm like ants to kill the dragon.
The Russians and French had literally nothing. The people in the US, even the poor, are much better off than the people who were in Russia&France. The average salary for the bottom 80% in Russia today is 9,000 USD per year. The average in America is nearly seven times that, at about 60,000 USD per year. In Russia pre-revolution, the average salary was less than 100 USD per year. America is shockingly affluent compared to pre-revolution France or Russia. And, overall, people are happier in a democratic republic than in a monarchial aristocracy.
Qwertyuoip 123 Monarchy doesn't count as a dictatorship... Right?
Pietro Smusi if you took the rich away it'd be bigger than 9,000 either way
I didn't know dragons were real.
Joke's on you. Union execs sell underpaid workers the illusion of security. The UFCW sacrifices part timer rights for full timers... so the companies stop hiring full time. The UFCW encourages this. It takes two part timers to do what a full timer could, which means double the union due income.
Wealth is not distributed, wealth is either earned or manipulated out through monopoly. Earning is fair, manipulation or monopoly is not!
I agree. Hate the rich people or not, they've worked hard to become rich, it really isn't given. They likely thought outside the box but of course there are some who were given but most of it is earned through hard work
@@mexilianmus2016 Nobody "earns" billions of dollars. I can respect people who make a decent salary like doctors. However, billionaires made their wealth through the exploitation of other and through monopoly, not free competition.
This is why I love Mom and Pop stores and Unions because rich people don't decide how much workers get paid AND they don't decide to layoff workers just to maximize profits...
IG monopoly is illegal..
lil B-Pop Amazon is a good example
Can we get a 2024 updated version of this please ?
why is this not EVERYWHERE! more people need to see this.
Because the premise is flawed, but actually because it doesn't appeal to the TH-cam overlords.
Ignorance is blinding us, greed is dividing us, and apathy is killing us.
Truth is short and simple….well said
oh what a nice, meaningless truism.
A good start would be to take the money out of politics.
One of the biggest flaws the USA has is election campaign money. In the UK I think the cap is £100,000 allowed to be spent per party. It would have to be considerably higher in America obviously, but I would really like the know how it manages to cost nearly $6bn. Another interesting point in the UK is that direct political advertising is banned. Each have a party political broadcast on the run up to elections and that's it. UK political system is far from perfect though, but I think the US does need to take stock of the situation. Whoever is paying that $6bn is only doing it in return for favours and influence. That then kills any chance you have of living in a democracy. What you have a is simply the illusion of democracy.
Tim Hole The main difference is in the UK all the bribery is under the table but is never exposed because the 1% own the media.. The consequences are exactly the same.
I like the way you think.
RullyisJRM And actors,. They are literally worthless.
RullyisJRM Must explain why the direct campaign contribution limit was 15 times what it is now in 1942 yet that didn't prevent the New Deal, Fair Deal or Great Society.
America has always been unequal since the colonial days. Remember only land owning white men had power not even all white men. It changed in the 30s with the rise of unions which gave us what we know call the American dream in the 50-60s . Than it went back to the way it was starting in the 80s when Reagan implemented neoliberalism.
"To become rich, you have to make money while sleeping"
"To become rich, you have to get others making money for you while you do nothing by using the corrupt mechanisms of our current capitalist system."
I fixed it for you.
Preferred the first one!
Its not what you prefer. Rather, its the truth. Agreed with the 2nd comment
Anonymous DueToFascists
“I hate people agreeing with contract and getting paid enough to live a normal life!”
If one has $300,000 invested in dividend paying stocks, they can live off of the investments. 12% yield would make $36,000/year. It is possible.
"Keep 'em in debt for as long as we can. They'll listen to us if we own them."
Not everyone is able to pay cash for everything.so eventually you get into debt at some point and if you dont make enough to pay that debt off in a timely manner. But you're missing the point.
I beg to differ. The idea that someone is unable to pay cash for everything is true, however that person is always living above their means and having an unsustainable lifestyle for their income. The thought that the little man can't get ahead is completely false and misleading to many Americans. It is ultimately up to the individual on what kind of life style they want to live.
th-cam.com/video/7wjuCgtL0yA/w-d-xo.html
I'd recommend watching this video all the way through and would like to discuss with you after if you want.
@coffeeinthemorning my point is they dont want you to get out of debt because you'll have more freedom/options. Same reason why they dint want universal healthcare. People wont leave their jobs because of benefits. If they didnt have to worry about healthcare then people might leave their job. Same as if people didnt end up in debt. Sure people overspend, but thats necessarily the situation for everyone. I know you're going to have a rebuttal because you have to make yourself feel like you're right.
Again, I’d be more than happy to have a discussion with you on this. Wealth inequality is an essential part of this country and primarily one of the main driving factors in innovation and improvement of the american lifestyle.
@@FloMoBass I totally agree, wealth inequality is a part of development. In the stone age the chief of the tribe might've had the chance to eat first but there was not enough to make things unequal. But nowadays since there are multimillion dollar watches and mega yachts for hundreds of millions of dollars there is enough progress to allow for people to have differences.
After reading this comment section I had finally realised that all hope is lost. Farewell freedom!
Yah, 'Merica is the world's only superpower, and it is doomed
ur so fucking stupid it hurts
Lmao just don’t have minimum wage skills and you won’t be poor. Pretty simple
@@hatthay997 About which skills you are talking about? How to make money at all costs? Most payed jobs today are the one for which you need skills of deception and stealing of others. Do you know in which countries suicide rates are highest, like tenfold higher? In ones with most money. Lot of money does't bring happiness it brings greed and unsatisfaction.
The most beautiful and noble people I've met had a myriad of skills and knowledge, but surely didn't have a lot of money, it just wasn't needed.
Many brains are brainwashed by capitalists consumer society in that way you can't recognize them as someone you can have a creative conversation.
No matter what happens in the future, no matter if we achieve immortality and endless prosperity, life will always be just a ride which quality doesn't depend on money but on balanced chemistry in your brain. Harmonious life doesn't need greed, it need passion, it does not need a lot, just enough. Don't get me wrong friend, it's just a ride...
Azure Ablaze if you think I read that you’re silly 😂
This was why we needed to tax the rich.
Some people really look at this at go: hm this is fine
@James Mitchell inheritance? whats that?
@James Mitchell no i dont
Those people are the reason things have gotten this bad
Why isnt it
@@hungcapitalll People are not born equal. They have different abilities and talent so income inequality will obviously exist logically but people are emotional and can't accept that.
#feeltheBern
+Greg Akopyan Apparently it's only socialism when it benefits the lower classes. Rich assholes get subsidized and it's cool though, right?
TajHammer Ahahahaha why would rich people get subsidized.
+Greg Akopyan Rich folks get subsidized because they pay politicians to give them corporate welfare and tax relief which earns them more than the cost to buy a politician.
+Greg Akopyan Bernie is pro capitalism.
This video is a misrepresentation of socialism, and showcases communism.
Bernie is a democratic socialist in the sense that he supports free healthcare and free college education for everyone in America. Not "free shit". If you look at Canada for example, as I live there myself even the far right don't even fucking consider trying to talk against our healthcare system, they'd be laughed out of the election. For every other major developed country, this shit is just common sense and America needs to catch up. He's not too far left at all. He's just using common sense.
The US has been a democratic socialist country for over 230 years, having programs such as the military, public libraries and roads just to name a few socialist programs. This is just another step forward.
You don't know at all what you're talking about, swine.
+Pablo Diablo You should try reading a book and understand politics compadre
I worked retail. people with careers and mortages in their 40s - 60s are doing those jobs too now, AS SECOND JOBS!
Good, I say, if they vote Republican and scream commie all day at anyone who points out the madness. Let them choke and die. No sympathy. I bet you most of them are happy about it and listen to Rush Limbaugh and swallow Trump's tripe.
Some plow horses and slaves are happy. That's when you know the brainwashing is complete.
I saw a bumper sticker the other day on a rusted out car that was falling apart, it read: "I don't believe the liberal media."
What that person doesn't realize is that most all of the media in America is anything but liberal. It all relies on corporate advertising dollars. It's as capitalist and rapacious as it gets.
The media rarely reports on the environment or poor labor standards. Gee, I wonder why (sarcasm, of course). Nor will they ever mention that trade must contain rules to protect the middle class and poor from finance capital seeking out the cheapest sweatshop labor abroad.
The reason that poor dolt has a car which is about to fall apart is precisely because of the media narratives they've swallowed whether they watch the news or not. The mainstream media narrative has permeated the culture.
The culture has been duped. This is what the average person thinks. [They are all false and predatory.]
1. Corporate charters can't be changed or augmented to support workers. They must be devoid of rules and free to support international capital flows.
2. Profits hurt no one. Diverting wages into corporate profits harms no one.
3. Progressive taxation is theft. [Never mind the rich are supposed to pay the majority of taxes because it offsets the inflation tax imposed by central banking and their tax dollars support a judicial and law enforcement branch that protects their wealth. Don't believe me: Read Adam Smith. He made this observation before Marx.]
4. Money equates to productivity. [Do nothing trust fund kids prove the opposite.]
5. Markets are efficient and free. Anyone can participate.
6. Regulations are bad. [I guess people want to see the return of 18 hour work days, child labor, and having the rivers burn with pollution.]
Sprax if the good lord dont get you; the cost of living will. Even on 120 hour work week.
Anonymous DueToFascists liberalism is not the left though. Democrats, up to my country's standards are further to the right than our most (non fascist) right wing party. Republicans don't even have a counterpart here because (although we have a few problems with similar things) religious fundamentalism, extreme conservativism, libertarianism and large scale corruption have all been recognised for the bullshit that they are
Anonymous DueToFascists the democrats are quintessentially liberal, you lot just haven't got around to having a diverse and fair political system
Who's here from Secular Talk?
Me
Me. ✋
🖐🏽
Literally who?
@@samwon5099 youtube channel
I would love to see this same structure applied to what we think the distribution of the US budget is, compared to ideal and reality. Then we can see visually how much we throw at military spending, vs the paltry sums given to domestic programs.
luvcheney1 Defense spending is more than half of discretionary spending. Social security has an independent revenue stream that is regressive (the cap on the payroll tax), and the fact that the US spends more on healthcare per capita than countries that actually provide universal coverage should shock you. And do you really love Cheney?
luvcheney1
Loosen your tinfoil, it's cutting off your brain's blood flow and turn off FAUXnews.
explain again how taxing the richest at a lower rate for the fund has anything to do with the payout
luvcheney1 You think that's the only source of income for rich people? Pentions and social security? Really man? I guess the billions or millions they have that no one person needs is more important to maintain then keeping the lower and middle class from borderline poverty, foreclosures and being made homeless. I'm sorry but I'm very certain billionaires can afford higher tax rates and still afford their fancy things. The poor shouldn't be forced to pay out almost all their cash and barely scrape by, if they even get by at all. For petes sake minimum wage hasn't been adjusted for inflation since 1976!
Idiot. Military is a necessity. Healthcare is by far the biggest expendature.
My jaw actually dropped when I saw the actual graph, wow
The benefits of being financially smart I guess.
Joe Hannah the whole video is actually incorrect tho. The statistics he gives are based on net worth, but he talks about it as if it’s annual income. The average income of someone in the top one percent is about $1.3 million and the median income among full time working Americans is about $50,000. This means that one percenters actually make about 26 times as much as the average American, not the ridiculously false 380 figure in the video. The fact that I haven’t seen anyone in the comments correct this yet is surprising.
@@ordohereticus5530 That's a funny way to spell "manipulative, corrupt sociopath"
@@ordohereticus5530 I wouldn't be jealous of Hitler having so much power, why would I be jealous of some corporate sociopath exploiting the working class? I would feel pretty bad about myself tbh.
@@ordohereticus5530 Any form of wage labor is by definition exploitation. They're taking a cut of the value of your work, yes?