I love how these people in our government PRETEND they do not know what is happening. The are part of the problem. They are shareholders. They don't care.
Neither do the people, hence how it got this bad. "The NWO will begin Sept 17th 2001 during the first New Moon of Rosh Hashanah, Feast of Trumpets, Resurrection of the Dead, the year 6000 of the Great Pyramid Calendar, in order to cleanse the Earth and Humanity in preparation for his Kingdom on Earth" British Israel Foundation memo 1922. Representative Democracy hasn't worked in over 50 years because politicians will always come from the monied classes and be beholden to their Corporate Donors, only way we avoid this apocalypse is to stage a Velvet Revolution to install a Scaled Direct Democracy. Citizen Initiated Referendums with thresholds and a Social Contract using Blockchain technology means communities can vote their own policies without parties or politicians. Banning Beef, Oil, and Fishing Subsidies would stall climate change and habitat degradation overnight. Thorium Energy renders their global oil monopoly obsolete. Police can be actively policed by an independent public authority with the power to prosecute bad actors in our own courts. Or we can bend over and accept our Orwellian future
Exactly, they own and trade stocks on the same corporations that have been doing so well lately. And that is not even mentioning how they are bought by these corporations. Lobbying, aka, legal corruption is such a disgrace and an enormous greed. It is so unethical.
Vote blue pay half your income to the government to pay for the handouts democrats want the USA has a debt bigger than our entire economy meaning when our creditors cash there bonds in for cash they will be able to buy everything meaning no matter how much money you have it won't matter there won't be any thing to buy leaving our children with a bankrupt shell of a nation because of democrat handouts stop bankrupting our nation by voteing for handout democrats
I very much appreciate that when Lindsey Graham ignores everything Prof. Reich says and only wants to discuss “securing our borders”, Reich brings the conversation back to economic forces affecting the American public. Thank you, Professor.
Lindsey failed on trying to steer the conversation in a completely different direction. He’s an idiot or just trying to avoid a topic he refuses to talk about.
When you have no counter argument on the issue, you just say I disagree with that, and then you change the subject to securing the border, which has nothing to do with the issue at hand. While providing no evidence that what Professor Reich said is not true.
Reich wants workers who have risked none of there own money to sit on the board of directors end replacement workers meaning unions could shut down a business anytime they wanted to and if sales slowed down no layoffs would ever be allowed meaning corperations would be stuck with to maney workers putting a lot of them out of business and slowing production crushing our living standards Reich out in the open pushes communism where unions control businesses and the rich are no more this kind of system always fails Reich knows this why does he push for a communist economic system he knows won't work
It’s very sad just how many folks believe the lip service. Maybe, having Susan Porter give examples on National TV, in that easy to understand way, could help us ALL stand together, for ourselves.
It's actually against Senate/house rules for one member to directly accuse another of being a corporate shill. It's not against the rules for for someone in RRs position to ask them if they are wich could be particularly effective after *specifically* following up LG's "well I don't agree" with pointed question like: "so you don't agree the American people are paying higher prices? You don't agree they're seeing lower wages. You don't agree that nearly every corporation is posting record profits, or do you just think that they're all lying? Because if they aren't lying then they're taking all that money from your constituents and giving it solely to a few at the very top which is exactly why everyone else is hurting. You say there's only so much money to go around when you want to cut funding, senator but it's funny you never say that when it's time for another bailout that only helps your CEO donors." That's the kind of stuff that makes an angry young white man forget he's supposed to hate brown people exclusively.
“You do not really understand something unless you can explain it to your grandmother.” - Albert Einstein Robert Reich can not only explain all of this to his grandmother, but also put it in plain enough terms to get through to stupid Americans who are blinded by political slogans and politicians who are paid to not understand the problem. Robert Reich is a very smart and has always been a voice for good and justice.
Not quite. If he'd made it that simple he'd be calling it Price Gouging through and through. Costs go up 10%, fine just for the moment let's pretend record profits wouldn't allow them to easily absorb that temporary spike as they'd need to do in a genuinely competitive environment. That still leaves the larger 20% increase which is pure monopolistic greed. Good luck getting any of that past the forehead of the typical MAGAesque Boomer granny of course but Einstein would write that one off too.
Salient point everyone needs to keep repeating: corporations aren't just _passing on the 5-10% cost increases_ they're *also jacking up their prices another 20% **_after_** that.* That's called Price Gouging and it's the only way you can get 70 year high record profits. Everything else is incidental.
I think inflation is a tactic they deploy strategically whenever we get liberals in office. They figure if they can inflate costs, they make the libs look bad. It helps get the conservatives in power there by avoiding paying a fairer share of the taxes needed to maintain our country and to avoid the regulations which the Dems like to insure safety and equality. Sort of like Boeing used a slackening of oversight on their planes' air worthiness to save money on mechanics, down time, parts etc. Like in the 737. The bundle they saved there really affected their bottom line. They are addicted to cutting costs and hate regulations which make them toe the line. But as long as they do not have to eat the cost of their errors, they can afford to bribe Congress and their PR trolls. These are the same people who say if a young girl gets pregnant and attempts to do a serious course correction, she can end up in jail for life for her error. The gun rights lobby say they need guns to defend themselves against government overreach. The overreach that the gun riders want to stop is that which would take away their guns. Curiously, most of them do not seem troubled by the woman's loss of her right to bodily autonomy. The only right they defend is their lust for guns. If that young woman can put off an abortion, there is an ever increasing chance someone with a gun can administer a very late term termination by gun. Not with anything approaching surgical precision. An AR-15 can apparently shatter bone exploding it through flesh like shrapnel. The projectile tears off limbs in passage, scattering them about. None of the antiabortion graphics top the scenes left behind those good old boys letting off a little steam in a massacre. And guns trump abortions everyday in their world. Jim Jordan says abortions deprive us of our most fundamental right, the right to life. Tell us, Jim. How do you feel about guns? There is no danger of that the conservativesas will lose their right to bear arms as long as money can be made off selling guns.
@@patshelby9285 I'm curious, do you see your response in the cue under my comment? I see it in my notices and it's highlighted directly under mine when I click that notice but if I click "replies" under my original I only see the other comment...🤔 I basically agree with your sentiments and conclusions 100% so it's unfortunate if it's being censored. Its possible some of the more dramatic analogies you used tripped dumb AI filters designed to shadow ban the potentially dangerous wackos you _merely referenced_ rather than any effort by the 1% at thought control... Maybe. 🤞
@@johnassal5838 John. Probably too many wacko analogies. I tend to weave all the things I feel are rooted in the RW into my replies. That may have been the one I bounced them all off of. Little too much stream of consciousness here.
I love the way Mr Reich lays out a series of indisputable, demonstrable facts and numbers and Graham just says "I disagree with everything you said." A typical knee-jerk (with an emphasis on jerk) corporate response.
Disagrees but can’t present any facts that contradict Reich’s testimony. Just disagreeable for no logical reason.... other than the big companies’ interests.
I just keep coming back to campaign contributions system needing to be drastically overhauled. It was such a slap in America's face back in 2008(?) when supreme court let 'companies count as people' in the middle of that exact controversy.
Right! I started noticing this happening in the late 90's, early 2000's! The consumer is getting robbed twice! This should be criminal but congress does nothing about it. We are now seeing the effects of 2 things: voter APATHY and not enough, good quality candidates! That's why it's SO important to do your research on which candidates will truly help the American people who are struggling to make ends meet!
Thank you for your insightful and compelling testimony, Secretary Reich. I find it distressing that some Senators refuse to acknkwledge the wisdom of the path to resolution this continuing drain on our economy, choosing instead to further obfuscate complicated economic realities with more inane partisan hogwash. As a result, we all continue to be victims of unrestrained corporate self-interest.
Lindsey knows full well how Exxon, etc al keep his stock portfolio solvent through the pandemic. He's just counting on his constituents being angry, scared and ignorant enough to not notice him and his donors picking every last cent out of their pockets. RR is undeniably great but when Graham says "I don't agree" to plain facts of record is exactly when a Will Rodgers would say something like "if its raining cats and dogs it doesn't matter if you choose to agree with it, the American people are still going through one heck of a rainy day regardless. Maybe that should interest you." That would open some cracks in MAGA land. The DNC is horrible at messaging. It's true from the blue dog corporate stooges that intentionally obscure good ideas in what the majority of the public find impenetrable language to the progressives who forget they're not really talking for the beniffit of good faith actors but the blue collar public that the corporately owned politicians keep misinformed. Even the young progressives actually choose to use phrases like "Defund the Police" that frankly, and rightly, terrifies anyone who doesn't already know what they _actually_ entail... Awful, awful messaging.
@@dawnjones8804 Yes. They've sold themselves to corporate interests and no longer represent the people who elected them. We need political finance reform.
graham seal the border all problems solved: sadly that half of the USA was part of mexico for 300 yrs. when the anglos captured La Forida by mercilessly bombing then looting La Habana the florida indians tequesta tribe and free blacks chose to be taken to cuba.
@@jorgegonzalez-larramendi5491 Careful. You might wander into GOP prohibited history territory. Anything that might trigger criticism of white colonialism will be tagged as "devisive" and "unpatriotic". See approved revisionist FL history at the local KKK offices.
@@fritzforsthoefel8031 please site your source. And, also, if you are correct with stated data, maybe the better way to look at it is that rich people pay more to taxes because they have benefited the most and grown the tallest in the soil of our society. If we didn’t have the system we do, they maybe wouldn’t have been able to live a life of such opulence.
You are right In communist countries you had your money taken away if you were rich mao when he ruled took rich people's money and gave it to the masses result millions starved
The congressional budget office Tells who pays what and where our taxes go and the treasury department the top five percent pay over half the federal taxes Reich is a communist whoes economic policy's is being followed in California and shunned in Florida guess which state is loesing people and what state is gaining people
Thank you for your testimony. I have one small observation, which is that, while I am sure this is blindingly obvious to you, I think many people do need it explicitly pointed out to them that most big corporations pay their senior executives in massive amounts of stock, so that these stock buybacks, which do benefit all stockholders, *specifically* **hugely** benefit the executives themselves. The very people who get to decide about raising prices vs. absorbing costs are personally profiting from their decision. I think when people hear, "This policy benefits stockholders" they tend to imagine that small fry like themselves are benefiting, so that's a good thing....
At the same time, they're forgoing R&D and new business development. That's giving away the future to countries where corporate governance doesn't suffer from this perverse incentive structure.
I don't know if they're still allowed to pay execs with stock options, but if they are then consider that idea but multiplied. As the company ends its buyback spree the execs can sell a few shares at max value. They'll know where the peak is b/c they're the ones doing the buyback. And since the price increase is based on a manipulation that makes it artificial and not a reflection of the quality of the company attached to the stock. So there will be a natural decrease after the peak and the execs would be in a position to short a few as well on the way down. Pretty easy to know when to buy and sell if you know when the prices will go up and down.
This man is such a valuable asset to our country. We are in dire need of reinstating anti-trust and windfall profit taxes as well as raising the income taxes on the ultra rich. Between monopolistic giant corporations and private equity groups we are being strangled.
Why can't we make this common knowledge keep saying it shove it down the throats of the house and the Senate and let them know that we're not going to take this anymore. I've known about this I've entered the workforce in 1978 and watched since the Reagan years and the Advent of the trickle down economy that never trickles down to the people that needed the most and trickles down to the shareholders that get the BuyBacks from the excessive profits cuz they don't know what the hell else to do with them and also the reduced tax rate. Unless we all share in prosperity this country will no longer exist. The reason the Kings and the fascists and the dictators are overthrown is because they keep all of the world's riches that belong to all of the people of the world not just those in power not just those with armies for themselves and their cronies that are backing them up. If this doesn't change nothing will. Robert Reich is truth!
Watching Dr. Reich take Ms. Lindsay Graham to the tool shed was a beautiful thing 8:50 - and all Ms. Graham has to say is "I disagree" nothing to see here folks. No response to corporate profits being at a 70 year high. These members of congress are disgusting.
Lindsay mostly disagrees politely between mint juleps, adding his consternation to the quite optimism of Susan Colins and the rest of the Republican A-Team.
@@mariondean8499 Yeah. They are challenging the professor or economics to explain economics. Not a good strategy, but asking questions is "hard" and Lindsay loves the spotlight. What's a body to do?
We need to stop saying ' billion '... it is too short and simple a word that doesn't leave an impact. We need to start saying 1000 million......that makes an impact ! So when Kroger posts a $4 billion profit for the year we need to say $4000 million profit as they continue to raise prices.
Stores are gonna give excuses to raise prices anytime. so that wont stop till they got too much back stock cause traffic will stop buying stuff for any reason. then they start lowering prices or put on clearance any or send back for credit any if cant sell it for any reason
@@johnd6389 Ironically your response is _too simple_ to make it clear if you're disagreeing that his message is A) simple as possible, or B) pretty much all corp greed. In either case pretty ironic. I do agree entirely if you meant it's not as simple as it should be or he'd have forced Graham to go on the record endorsing the Price Gouging of his constituents by his corporate -owners- I mean, _donors._
fish man: He was the Clinton/Gore administration's Secretary of Labor when they sold-out manufacturing to the Indo Pacific Rim, mainly China. The multinational corporatists making a move. The Global Agenda plan warned to Congress 27 years ago: 1994 Congressional Testimony (it may seem boring but is of utmost importance) that included global capitalist billionaire Sir James Goldsmith (he was told the Global Agenda plan) prior to the approval of NAFTA & GATT aka WTO (supported by HWBush, Cheney, Clinton, Gore, Biden, Pelosi, Schumer, Kerry among the dem/gop). Note, Democrat Senator Hollings was Citadel trained & business savvy, the video opens with Senator Hollings calling out Clinton's Amb Kanter's nonsense that Americans would be fine with trading their jobs for cheaper goods from eg. China followed by Sir James Goldsmith's revealing the global agenda plan. th-cam.com/video/dKsTxemQpOY/w-d-xo.html Follow up hearing with Q&A. th-cam.com/video/YnL352yANA8/w-d-xo.html
My conservative mom was right on board with this message. This is absolutely critical and can unite the people. Very well presented and time is of the essence on this. There is so much the opposing sides actually agree on, if we can just push past the party labels and fear that closes minds and supports widening the wealth inequality gap.
Since we are hominids preprogrammed to be memetic we need a common enemy. If the Red and Blue can unite against the oligarchy it seems like a good start. Now, if we could find another world with inhabitants somewhere out in space we have a chance at world peace.
Pushing passed party labels is essential. I give two options to my children and even they are wise enough to see through the manipulation. Me: "Do you want water or milk?" Them: "Juice" Now is a time to work on what we agree on, not what we disagree on. Historically, if people can live a lifestyle that allows for basic contentment, hatred diminishes. At this time, people are looking for someone to blame, which is leading to infighting instead of keeping a focus on the real culprits. What do we all agree upon? Let's start a list, please add to it. I will start. 1)Corruption is bad
There’s the problem. Don’t settle when it comes to things that matter. The best we can do as individuals is spend our money on sustainable local companies.
We are being conditioned to believe that all of this madness is normal. IT IS NOT. If we don't vote out the politicians refusing to fix things then we will continue to decline as a nation. I'm 37 and have never been to a doctor because of the cost. Remember property taxes and car payments are always more important than your health.
Conditioned not to care, too. I keep hearing people say that they're so tired of politics that they just don't pay attention any more. That's exactly how things DON'T get fixed. (Obvious, right)? You're so right about voting. I'm always amazed at the low voter turnout, particularly Democrats and Independents. What will it take to get as motivated as GOP voters!? I don't understand it. I feel that if American democracy fails, it's because too many of us Democrats and Independents got too lazy. WHAT A REALLY BAD REASON! Must change fast.
@@peppertree8244 People often fear what they don't understand. They don't understand because of conditioning and the wealthy own everything. Prices don't have to rise but they say they do to keep profit margins high. That's it, all greed for money and power. But yes people don't realize that to make changes, you have to vote on it. All these sheep getting scared when they hear "socialism" but meanwhile don't really care where their tax money goes and the rich don't pay any. It sucks but we need to pay attention.
Thank you, Prof. Reich, for providing facts and speaking TRUTH to corporate greed. The government needs to tax all corporate theft and then give it back to working consumers. This way, companies will be held in check by elected representatives of struggling workers ...
Not that I disagree, I don't. But how is this to happen with republicans in office? They clearly stand with the rich and corporations at every turn. And even republican supporters suffer along with the rest of us. Listen to them, the republicans are off subject.
@@margaretf6147 There was a time when borh parties were after the union vote. I feel that was about the time officials stopped working for the people. Yeah, there were still differences in ideology, but all most all were working for the country in their own particular way, but could reason together on important issues. It really wasn't that long ago.
Robert and Bernie are my my heroes! I’m way younger than them… but I honestly don’t have the drive to deal with the issues that is happening in the USA. I’m a U.S. citizen, but live in another country for many years! Keep fighting the good fight, gentlemen! Hopefully I’ll return when leadership isn’t greedy and power hungry!
We have a debt bigger than our entire economy meaning when our creditors cash there bonds in for cash they will be able to buy everything meaning no matter how much money you have it won't matter there won't be any thing to buy leaving our children a bankrupt shell of a nation and Sanders wants more government handouts
Will you send half your income to the government to pay for the handouts Sanders promises you if not you are a thief of the worst kind stealing from our children who will have to pay for the handouts we adults demand
You're the real deal Robert. Lindsey shut his mouth to facts and truth. He tried to distract but it didn't work!!! Keep up the great work spreading truth and knowledge.
This testimony should be heard by every American adult. Unfortunately, the majority of people would rather watch the tabloid and cheap programs than watch and hear the programs that can open their minds about what is being done to their lives. My fear is what happens when patriots like Robert Reich are gone. Who do we have left with conscience and knowledge of the system to try to enlighten us? The future doesn’t look bright.
Yeah my conservative relatives they all say the same thing: Biden stopped the oil pipeline and that raised gas prices and that caused all the other chain reaction with shipping costs going up and so forth and so on. I guess it comes down too, some people are Republican no matter what and some people are Democrat no matter what. they don't really hear anything other than what they want to hear.
@@donivanpotter2762 Yeah bidens policies created the increase in oil prices. Along with the left shutting the economy down. Learn economics you won't be a leftist anymore.
but what the fuck can you actually do ? I dont live in the US , but I live near the hungary border so I was buying all my food and gas there far cheaper than in my country croatia. now hungary banned us from buying in their country by their lower prices lmao. I would love to not have to spend money but you have to live. and Im so fucking tired of just knowing this shit and then not being able to anything about it. We all know my country is corrupted as fuck and all they do is steal money, corporations just fucking us in the ass for just a "little" bit more profit and it never fucking ends.
Of course Lindsey Graham disagrees with everything that Professor Reich, an internationally respected economist, asserts: Graham's paymasters/donors expect, indeed demand, that he oppose any push to combat corporate greed. And Lindsey lives to follow orders.
Secretary Reich is speaking truth to power. Get rid of Citizens United to end money in politics. Give government back to "We The People" instead of them their donors!!!
the "shafted" are the very ones Republican lies appeal to - until they are educated about how they are being manipulated, they will continue to aid the ones who are "shafting" them - thank you for your efforts to do this
Statistically they're a tiny minority, but the system has been geared to cater to them from the start. Until the average worker realizes the world is a Corporate Theocracy, and the need for a more egalitarian form of govt, they will continue to fall for a rigged game. You keep trying to vote your way out of quicksand, without seeing the quicksand is the problem. (Representative Democracy)
The constant prattle about made-up controversies keeps them ignorant of the issues that really impact them and their families. Which is more important - who is using which bathroom or whether a family member dies because they can't afford essential medical care?
Its hard to fix too b/c w hen you say 'manipulated' they have to agree that they got fooled before they can turn it around. Egos are big. Humility is no longer a value. Everyone is a know it all.
@@mtn1793 What a bunch of snowflakes! They can't get their heads around the fact that they implemented a bad , long term strategy decades ago to focus on a dwindling demographic. If you look at old episodes of All in the Family, early 70s, you can easily see which demographic they began courting. They tried to shift to the "small business" community in the 80s but over the past 40 years, they've done little to support them, leaning toward big-business lobbies to devour small businesses like Kronos eating his children. Many small business people still drink the "American dream" kool-aid. The Dems need to do more to promote small business and support them, indirectly, with tax concessions and other similarly structured breaks that don't look like "hand outs".
I took a lot of macroeconomics courses in college and grad school, and Mr. Reich is a real pro. He knows this stuff considerably better than I, and I a bit better than most senators, in all likelihood. However, lobbyists. End of reform.
Isn't it just sad to listen to the responses out of the Republican senators during this committee meeting. I'm sure we all knew what the outcome would be. I want to thank you Secretary Reich for all your efforts to help the struggling working class. Please don't abandon them, but keep speaking out.
It's always the same refrain. "Hey you guys, just let us purge all the Mexicans, and you'll wake up tomorrow rich with a $200 an hour job!" You'll just have to pick your own lettuce in the fields and flip your own burgers at the drive thru.
Pay your fair share of taxes to pay for democrat handouts and quit bankrupting our nation by voteing democrat while not paying for the social programs they want people like you are sending our children a bankrupt shell of a nation why do democrats hate our children
My Senator Graham Cracker thinks he knows it all - as long as his bunch gets all the money he doesn't give a damn. This is corporate greed. I've been saying it all along - you cannot say you have a short supply, your prices go up, and yet you make massive profits, unless you raise your prices far beyond what they should be. Thank you, Dr. Reich!
No, Reagan and the Moral Majority especially that slime Newt Gingrich decided they were going to do a hostile financial takeover of our economy, and the GOP's been riding that gravy train ever since.
The founders of the CIA, FBI, DC and the designers of the Pentagon were all Catholic, so too Tucker Carlson, Beck, Hannity, Spicer, O'Reilly, Ingram, Pence, Hawley, Blasio, Manafort, Prince, Devos, Kavanuagh, Barrett, Gates, Fauci, Abbott, Manchin, Comey, Rogan, Jones, Dore, Kulinksi, Rubin, Pool, Peterson, Dice, Cernovich, Crowder, Molyneux, Fuentes, Yilanopouse, Pompeo, Spencer, Bolton, Abrams, Stone, Desantis, Bezos, Cuomo, Pelosi, Biden, Maddow, Hayes, Cooper, Toocy, McEnany, Collins, Rubio, Cruz, Gutfeld, Mattis, Richardson, Ryan, Huckabee, Gingrich, Sessions, Guiliani, Flynn, Bannon, Barr, Christie, Richardson, Melania, Kelly, Conway, Gionet, Johnson, May, Blair, Thatcher, Trudeau, Merkle, Tusk, Farage, Morgan, Cowell, Ventura, Bolsanaro, Putin, Posobiec, Corbett, Robinson, Woods, Icke, Camp, Duke, Kirk, Watson, Iverson, Ball, House. 7/9 Supreme Court Justices are Roman Pro life is a foundational Roman tenet. Mayer Rotschild sent sons to establish banking operations in London, Paris, Vienna, Frankfurt, and Naples. Baron is a title given by the Holy Roman Empire, it is also known as Fiehrer, or Fuehrer. Baron (Baron and Fuehrer are the same title) Mayer Amschel Rotschild (1744-1812), was a court factor to the German Landgraves of Hesse-Kassel in the Free City of Frankfurt, Holy Roman Empire, who established his banking business in the 1760s. Wikipedia "The NWO will begin Sept 17th 2001 during Rosh Hashanah Feast of Trumpets, Resurrection of the Dead, the year 6000 of the Great Pyramid Calendar, in order to cleanse the Earth and Humanity in preparation for his Kingdom on Earth" British Israel Foundation memo 1922. Same year Boris Johnson's Great Grandad and Architect of the Armenian genocide Mustafa Ali Kemal sent Trump's Grandad Baron Don Von Drumph to America from Vienna Bavaria, Capital of the Holy Roman Empire. Same place Hitler, Stalin, Lenin, Trotsky, Orwell, Freud, and Boris Johnson's Great Grandad have lived and come from, as well as Einstein. Oil giants Shell and BP are planning for global temperatures to rise as much as 5°C by the middle of the century. The level is more than double the upper limit committed to by most countries in the world under the Paris Climate Agreement, which both companies publicly support. Oct 27, 2017 (BP and Shell expecting catastrophic 5°C global warming by 2050) Methane from Beef farming makes up 52% of all greenhouse gases, and is 90% subsidized subsidised. Banning Beef subsidies could stall climate change overnight, but guess who runs the Beef Racket... "If any one saith that true and natural water is not of necessity for baptism, and on that account wrests to some sort of metaphor those words of Our Lord Jesus Christ. 'Unless a man be born again of water and the Holy Ghost...' Let Him Be Anathama." -COUNCIL OF TRENT Sess VII Canon II On Baptism 1545AD Matthew 3:11: “I indeed baptize you with water unto repentance: but he that cometh after me is mightier than I, whose shoes I am not worthy to bear: he shall baptize you with the Holy Ghost, and with fire.” The fire in this passage refers to the fire or inspiration of the Holy Spirit. "Furthermore we declare we proclaim we define that it is absolutely necessary for salvation, that every human creature be subject to the Roman Pontiff" Pope Boniface VIII, "Unam Sanctam" (Rome 1302) "There is no graver offense than heresy... and therefore it must be rooted out with fire and sword" Catholic Encyclopedia volume 14 (1911): 767-768 "A heretic merits the pains of fire... by the Gospel, the canons, civil law and custom, heretics must be burned" American Textbook of Popery p164 (quoting from the directory for the Inquisitors) "The true baptism is not by water but fire." Prophyry of Tyre 300AD "I propose an Aryan Semitic Alliance to create a superior Caucasian race" UK PM Benjamin Disraeli 1890 "Today I declare the Crusades won" General Edmunde Allenby upon capturing Jerusalem 1917 "But they want nothing but Palestine, because Palestine constitutes the geostrategic center of world control" Dr Nehum Goldmann, 1957, founder of the World Jewish Congress and President of the World Zionist Organization
Poor robert is explaining over and over to our idiot senate while they just do their BS political shift and STILL taking no action. Our Congress HAS FAILED US!!!
Thank you Robert for giving this specialized insight to this panel. Amazes me how simple minded of a response you got from LG.. "I disagree" .. We need more people like you working for us Robert. And more people whom actually will work towards working class Americans
That was absolutely extraordinary to watch your mastery. Thank you for your passion and expertise. I can only hope that Congress will seriously consider your words, and create a new corporate profits law.
@Zach. There is no need to choke out companies. There is Only need to better regulate them to prevent the Thievery and Price Gouging that keeps the majority of US down and the Minority of THEM getting richer by the minute. ( Off our BACKS ).
I like what you had to say to the committee. I don't think that these people in charge of the government are going to be able to help the working class. I wish that I didn't fell this way.
Thank you for your testimony, Prof Reich. I wish Congress would stand up for American's citizens the way they're supposed to and vote to help the average worker as you suggested.
Thanks Sec Reich that was a very good testimony. I must say that the Sen Lyndsey Graham's remarks twisting what Sec Reich said about action to prevent future skilled labour shortages to to somehow go on about a secure border (which to him means a Trump style wall) confirmed to me that he is a slimeball of the first order.
Two words: Price Fixing Big companies are price fixing and yes, it's a crime, but don't worry, they won't be prosecuted. Price fixing definition: " the maintaining of prices at a certain level by agreement between competing sellers".
Oh I so wish someone had called timeout after Lindsey G made his "I disagree..." remark and said Okay Lindsey please explain why you disagree......using facts and figures, not just opinion, show us why Secretary Rice is wrong.
Fact is you are a thief stealing from our children here is the proof if you draw 1500 a month in ss till your eighty that's over two hundred thousand dollars and you did not pay that much in ss taxes and the average person draws out three dollars for every dollar paid in medicare taxes and the poor get subsidized housing food assistance cash assistance and free healthcare pay your fair share of taxes for the ss and medicare you will receive
Then pay half your income to the government to pay for the handouts democrats want stop bankrupting our nation by voteing for handout democrats look at the debt clock
The Current and Historical data presented within, provides such valuable Insights. And these Policies need to be Enacted by Congress and the President. Thank You, Robert Reich!
I'm reminded of a quote attributed to John Steinbeck, "Socialism never took root in America because the poor see themselves not as an exploited proletariat, but as temporarily embarrassed millionaires." Is American culture partially to blame for these economic issues? If so, what can be done about it?
🤷🏽♀️ those are still believing if they could only find those boot straps…. (Which can only be pulled to put the boots on the feet, and do not pull the person up)
@@katsong3302 I know what you mean but I feel like part of the issue is that both "sides" have a bad habit of blaming the "other". Classic divide and conquer. We would do well to lead by example and I believe that this is happening. Take for example recent efforts by workers at Starbucks and Amazon.
John Steinbeck directed his criticism to the increase of private factory farms and the poorly paid workers, which now are 99% of agricultural production. In his era did Stalinist farm collectivization work better? Interestingly in both Stalin collectivization and in capitalist factory farming the yields are higher over all, but smaller farm sizes are much more productive per unit area 2 to 10 times more productive. So smaller farms can be competitive. In Stalin’s USSR the independent half hector plots ended up creating 20% of the overall agricultural production. It’s ironic that it’s the same phenomenon. Today, what’s missing as far as small farms is a cooperative processing infrastructure getting things from farms to wider distribution. But that could be done and they would need government support to help do it. I don’t think it’s a one-size fits all issue. What is needed is diversified industry strategies, if a cooperative can work better in certain area it should be encouraged. But in other areas it might not work as well.
Democracy is suppose to regulate the excesses of capitalism. FDR's social programs, in order to help recover from the great depression, is said to have "saved capitalism." The inhumane practices from 19th century gilded age were also eventually stopped by government policy. America is NOT a laissez-faire capitalist country but a country whose capitalism is regulated by democratic representation. The Supreme Court's ruling in Citizen's United gave unprecedented political power to wealth and corporate "personhood.' This ruling needs to be relitigated ASAP, but Republicans will never allow this. Our only hope currently is to vote Democratic and to support every means possible to return political power to the people. If we lose our democracy, our fate will be in the hands of the rich and powerful only. Democracy is not only the talk, but it must also be the walk. If our representatives don't come through, then your guess is as good as mine as to what happens next. Our democracy is supposed to be an evolving system, governed by reason and the will of the people, neither fully socialist nor capitalist, but ideological dogma prevents this actuality from ever being acknowledged. With corporations in control of our political system, (to paraphrase an oft repeated maxim) it is "governmental socialism for the wealthy and harsh capitalism for the rest of us."
I just dont know how corporations think workers are going to keep having the money to buy their products. Wages are bad and people are maxed out on credit. Beyond dumb
I wonder when workers will realise automation makes them redundant, and that that's the point. "The NWO will begin Sept 17th 2001 during the first New Moon of Rosh Hashanah, Feast of Trumpets, Resurrection of the Dead, the year 6000 of the Great Pyramid Calendar, in order to cleanse the Earth and Humanity in preparation for his Kingdom on Earth" British Israel Foundation memo 1922. Representative Democracy hasn't worked in over 50 years because politicians will always come from the monied classes and be beholden to their Corporate Donors, only way we avoid this apocalypse is to stage a Velvet Revolution to install a Scaled Direct Democracy. Citizen Initiated Referendums with thresholds and a Social Contract using Blockchain technology means communities can vote their own policies without parties or politicians. Banning Beef, Oil, and Fishing Subsidies would stall climate change and habitat degradation overnight. Thorium Energy renders their global oil monopoly obsolete. Police can be actively policed by an independent public authority with the power to prosecute bad actors in our own courts. Or we can bend over and accept our Orwellian future
Our family has stock portfolio's that include the companies you mention. Oddly, some of the most profitable ones dropped points on the Stock Market and paid little or no return. Very Strange. Further, many people I know including family, friends, and business associates and I, have never been so disappointed in the loss of quality in so many American made goods, And foreign made goods, And the rip-off prices they're charging. I said Rip-Off prices because, with the profits most are posting why are they spiking up their pricing?... Is it Because Corporate Conglomerates are gobbling up ownership and control of manufacturing, supply, distribution and finance (including banks) everywhere and thereby eliminating Competition so they Can & Do get away with it ?? Is it greedy corporate accounting manipulation? Not to forget, even with Historic Growth in sales and profitability, and he old "Trickle Down" theory So completely exposed as a horrific lie, how is it that so many politicians are pushing that broken idea again (mostly ultra-conservative politicians)? There are some mighty odd politics being pushed out at the benefit of already extremely wealthy corporations and super/ultra rich individuals. **Please continue pointing out facts like you have today Mr. Reich. Hats off to you, and Thank You.**
The reason is that those ultra conservatives are stockholders in these corporations, and they are also getting dark campaign money from them. This is why they need to be voted out and reforms installed as soon as possible. Midterms matter!
"The NWO will begin Sept 17th 2001 during the first New Moon of Rosh Hashanah, Feast of Trumpets, Resurrection of the Dead, the year 6000 of the Great Pyramid Calendar, in order to cleanse the Earth and Humanity in preparation for his Kingdom on Earth" British Israel Foundation memo 1922. Representative Democracy hasn't worked in over 50 years because politicians will always come from the monied classes and be beholden to their Corporate Donors, only way we avoid this apocalypse is to stage a Velvet Revolution to install a Scaled Direct Democracy. Citizen Initiated Referendums with thresholds and a Social Contract using Blockchain technology means communities can vote their own policies without parties or politicians. Banning Beef, Oil, and Fishing Subsidies would stall climate change and habitat degradation overnight. Thorium Energy renders their global oil monopoly obsolete. Police can be actively policed by an independent public authority with the power to prosecute bad actors in our own courts. Or we can bend over and accept our Orwellian future
I suspect that in your case something else is also involved. It’s not uncommon that a large corporation’ s CEO and board of directors own more than fifty percent of all shares in the company or more and they profit more than the shareholders. Only twenty percent of shareholders return their proxies at best let alone attend the company’s annual meeting and that is how the members of the board get away with voting themselves raises and such high bonuses.
Best labor secretary ever!!! Wish Biden would hire him again. ( Clinton administration) remember the good ol days when Clinton had us in the green, no debt, the the repukes fucked it all up!!
I keep remembering how Dubyu'# campaign said the Clinton surplus would last forever if they got in, or something to that effect. I never believed them. I wonder why.
I worked for a triple-digit multi-millionaire, who said that the pandemic was the best thing that ever happened to his company, and that he made a ton of money off of the pandemic... but keep in mind, that every politician regardless of their political affiliation, has so much stock in all of these major corporations, and they are getting rich off of what the corporations are doing as well. So, they're not going to risk losing any money, therefore no change will take place.
We are having record sales at the place I work. Everyone involved in the actually production of the product is in the union. With the record profits, the top executives gave extra bonus to everyone... except the unions worker. Those that make the least and worked the most through the pandemic.
Thank goodness google and youtube have an unbiased and completely transparent approach to how and why videos get views. I can see this one will for sure remain listed fairly amongst potential viewers that don't already hold these beliefs. I think these companies that benefit from Mr. Reich's buy back explanation would do nothing to keep that as quiet as possible. The ability to hear and understand our government is fantastic and most unbiased............. . . . . . . .
Lets mention the main perversions of the economic system: stock markets, safe tax havens, elected officials and family members trading stocks, corporates donating money to electoral campaigns and other purposes, loopholes for the wealthy and subsidies to big corporations.
Don’t forget HOUSING costs skyrocketing from opportunistic “passive income stream” investors and hedge funds becoming land lords. Rent in my area has more than doubled in under 4 years. Wages, however much they may have increased have NOT doubled. We need to restrict Capitalist investment in necessities: food, housing, energy, education, transportation. I’ve been trying to get a job for MONTHS. Don’t give me there is a labor shortage. That’s BS. Companies are consolidating work, automating away jobs. If a company REALLY needed to hire as an existential imperative, they could and would. But when they can show a deficit on the books for unmet labor demands, it’s advantageous to their profit growth.
Clear, concise complete. Well done presentation. Congress is appalling in their lack of fiscal awareness and understanding of basic business principles... not that they will do anything substantive with this information beyond insider trading and accepting more corporate funds.
Republicans are not unaware of how the economy works. Their purpose is to spread disin formation and pass laws that support corporate interests for a price. The workers be damned. We have go e back to the 19th century where there were no regulations or taxes and poverty was rampant for rhe workers.
With low rates, QE, and low growth, they could have increased the salaries, even if they had to lower them in the future (much more difficult), now the window of opportunity is closing, all courtesy of the filibuster. Why bother if they have buybacks, and other corporate self enrichment financial schemes, such as option rewards for the executives, which come with the buybacks. Thank you for your testimony Robert Reich.
Great testimony! Nice rollup summary of much of what I've learned in your Wealth & Poverty class. Question: By my recollection, the Trump tax cuts included an increase in the standard deduction for taxpaying wage earners, however, the overwhelming benefit (tax savings) was enjoyed by corporations and the wealthy. Is my recollection correct and is it substantiated by data?
Correct...it was like throwing a bone to the lower/middle class to distract from the fat juicy steak going to the wealthy and corporations. Small corporations actually got squeezed even harder and those are typically closely held small businesses.
![Yoshi Rinrada - 'มาทำไม' [Official MV]](http://i.ytimg.com/vi/r41xbfRLkLs/mqdefault.jpg)
I love how these people in our government PRETEND they do not know what is happening. The are part of the problem. They are shareholders. They don't care.
Neither do the people, hence how it got this bad.
"The NWO will begin Sept 17th 2001 during the first New Moon of Rosh Hashanah, Feast of Trumpets, Resurrection of the Dead, the year 6000 of the Great Pyramid Calendar, in order to cleanse the Earth and Humanity in preparation for his Kingdom on Earth"
British Israel Foundation memo 1922.
Representative Democracy hasn't worked in over 50 years because politicians will always come from the monied classes and be beholden to their Corporate Donors, only way we avoid this apocalypse is to stage a Velvet Revolution to install a Scaled Direct Democracy. Citizen Initiated Referendums with thresholds and a Social Contract using Blockchain technology means communities can vote their own policies without parties or politicians. Banning Beef, Oil, and Fishing Subsidies would stall climate change and habitat degradation overnight. Thorium Energy renders their global oil monopoly obsolete. Police can be actively policed by an independent public authority with the power to prosecute bad actors in our own courts.
Or we can bend over and accept our Orwellian future
Exactly, they own and trade stocks on the same corporations that have been doing so well lately. And that is not even mentioning how they are bought by these corporations. Lobbying, aka, legal corruption is such a disgrace and an enormous greed. It is so unethical.
Wall Street sucks.
Fuck-ain’t that the true..
I stand with Bernie Sanders because BERNIE SANDERS STANDS FOR US!
Lindsey Graham, "I disagree"
No counter argument, no evidence, Just an empty shell holding that place to make sure the companies keep the status quo.
Place holder: zero.
Pay no attention to the shill behind the curtain.
Exactly. He doesn't ACTUALLY disagree. He knows Sec. Reich is spot on, but he's owned by corporations so he must say it. Graham is a puppet loser.
Amen.
VOTE 🗳 BLUE. Vote to MAKE AMERICA A DEMOCRACY.
VOTE ANTI-CORPORATIONS DARK MONIES. VOTE ANTI-GOP-trump-PACKED SUPREME COURT. VOTE ANTI-FASCISM.
Vote blue pay half your income to the government to pay for the handouts democrats want the USA has a debt bigger than our entire economy meaning when our creditors cash there bonds in for cash they will be able to buy everything meaning no matter how much money you have it won't matter there won't be any thing to buy leaving our children with a bankrupt shell of a nation because of democrat handouts stop bankrupting our nation by voteing for handout democrats
I very much appreciate that when Lindsey Graham ignores everything Prof. Reich says and only wants to discuss “securing our borders”, Reich brings the conversation back to economic forces affecting the American public. Thank you, Professor.
Lindsey failed on trying to steer the conversation in a completely different direction. He’s an idiot or just trying to avoid a topic he refuses to talk about.
When you have no counter argument on the issue, you just say I disagree with that, and then you change the subject to securing the border, which has nothing to do with the issue at hand. While providing no evidence that what Professor Reich said is not true.
Lindsey Graham is a snake.
Almost missed that deflection, tha ks for pointing it out
Reich wants workers who have risked none of there own money to sit on the board of directors end replacement workers meaning unions could shut down a business anytime they wanted to and if sales slowed down no layoffs would ever be allowed meaning corperations would be stuck with to maney workers putting a lot of them out of business and slowing production crushing our living standards Reich out in the open pushes communism where unions control businesses and the rich are no more this kind of system always fails Reich knows this why does he push for a communist economic system he knows won't work
This testimony perfectly reflects the how Government serves Business with policy and average Americans with lip service.
you mean repu-controlled govmint
So well said.
It’s very sad just how many folks believe the lip service. Maybe, having Susan Porter give examples on National TV, in that easy to understand way, could help us ALL stand together, for ourselves.
@@fenix02008 Do you mean Katie Porter?
@@maargenbx1454 Also there’s Michael Porter another economist who understands the partisan duopoly.
Graham's corporate ownership and blatant attempts to distract could not be more obvious. It's sad that so many cannot see it.
It's actually against Senate/house rules for one member to directly accuse another of being a corporate shill. It's not against the rules for for someone in RRs position to ask them if they are wich could be particularly effective after *specifically* following up LG's "well I don't agree" with pointed question like:
"so you don't agree the American people are paying higher prices? You don't agree they're seeing lower wages. You don't agree that nearly every corporation is posting record profits, or do you just think that they're all lying? Because if they aren't lying then they're taking all that money from your constituents and giving it solely to a few at the very top which is exactly why everyone else is hurting. You say there's only so much money to go around when you want to cut funding, senator but it's funny you never say that when it's time for another bailout that only helps your CEO donors."
That's the kind of stuff that makes an angry young white man forget he's supposed to hate brown people exclusively.
It seems that is now how government works.
This idiot calls for price controls Nixon done this on meat result shortages for the first time ever Reich is a Communist
Gotta love how Lindsey Graham once again smugly disagrees with reality.
Republicans and their "alternative facts". They are paid by those very corporations to disagree with reality! In both parties.
She clutches her pearls and gets the vapors. Ah doo deeclayuh!!
To be sure, yuck
@@kellymestas9709 that sure is miss lindsey's trademark!
lol yep I saw that
“You do not really understand something unless you can explain it to your grandmother.” - Albert Einstein
Robert Reich can not only explain all of this to his grandmother, but also put it in plain enough terms to get through to stupid Americans who are blinded by political slogans and politicians who are paid to not understand the problem.
Robert Reich is a very smart and has always been a voice for good and justice.
Everyone and their grandparents need to boycott Starbucks! That is how we revolt, with our money!
Not quite. If he'd made it that simple he'd be calling it Price Gouging through and through. Costs go up 10%, fine just for the moment let's pretend record profits wouldn't allow them to easily absorb that temporary spike as they'd need to do in a genuinely competitive environment. That still leaves the larger 20% increase which is pure monopolistic greed. Good luck getting any of that past the forehead of the typical MAGAesque Boomer granny of course but Einstein would write that one off too.
@@MsNickie1001 My guy, wut. I can't afford to live on my own with a successful business, WHAT MONEY
@@Zach-ju5vi real funny chatbot
@@Zach-ju5vi lol chatbot uses chatbot reply
Salient point everyone needs to keep repeating: corporations aren't just _passing on the 5-10% cost increases_ they're *also jacking up their prices another 20% **_after_** that.*
That's called Price Gouging and it's the only way you can get 70 year high record profits. Everything else is incidental.
This is a nightmare that never seems to end
I think inflation is a tactic they deploy strategically whenever we get liberals in office.
They figure if they can inflate costs, they make the libs look bad. It helps get the conservatives in power there by avoiding paying a fairer share of the taxes needed to maintain our country and to avoid the regulations which the Dems like to insure safety and equality.
Sort of like Boeing used a slackening of oversight on their planes' air worthiness to save money on mechanics, down time, parts etc.
Like in the 737. The bundle they saved there really affected their bottom line. They are addicted to cutting costs and hate regulations which make them toe the line.
But as long as they do not have to eat the cost of their errors, they can afford to bribe Congress and their PR trolls.
These are the same people who say if a young girl gets pregnant and attempts to do a serious course correction, she can end up in jail for life for her error.
The gun rights lobby say they need guns to defend themselves against government overreach. The overreach that the gun riders want to stop is that which would take away their guns. Curiously, most of them do not seem troubled by the woman's loss of her right to bodily autonomy.
The only right they defend is their lust for guns.
If that young woman can put off an abortion, there is an ever increasing chance someone with a gun can administer a very late term termination by gun.
Not with anything approaching surgical precision. An AR-15 can apparently shatter bone exploding it through flesh like shrapnel. The
projectile tears off limbs in passage, scattering them about. None of the antiabortion graphics top the scenes left behind those good old boys letting off a little steam in a massacre.
And guns trump abortions everyday in their world.
Jim Jordan says abortions deprive us of our most fundamental right, the right to life.
Tell us, Jim. How do you feel about guns?
There is no danger of that the conservativesas will lose their right to bear arms as long as money can be made off selling guns.
@@patshelby9285 I'm curious, do you see your response in the cue under my comment? I see it in my notices and it's highlighted directly under mine when I click that notice but if I click "replies" under my original I only see the other comment...🤔
I basically agree with your sentiments and conclusions 100% so it's unfortunate if it's being censored. Its possible some of the more dramatic analogies you used tripped dumb AI filters designed to shadow ban the potentially dangerous wackos you _merely referenced_ rather than any effort by the 1% at thought control... Maybe. 🤞
@@johnassal5838 John.
Probably too many wacko analogies.
I tend to weave all the things I feel are rooted in the RW into my replies.
That may have been the one I bounced them all off of.
Little too much stream of consciousness here.
@@johnassal5838 do you see a comment referencing inflation as a tactic used strategically....
Maybe you muted me?
I got nutting....
I like the way you turned Graham's border comment around so nicely and brought him back to the issue at hand, inflation and corporate greed.
Graham loves farm animals.
@@stevenmeyers1226 Graham -loves- *_is a_* farm animal.
Ovis Aries, of the family Bovidae, specifically.
@@stevenmeyers1226 Graham loves red herrings.
@@Zach-ju5vi being an intellectual doesn't mean you don't work. Do you think our presidents don't work?
The only trouble in earth, NOT
I love the way Mr Reich lays out a series of indisputable, demonstrable facts and numbers and Graham just says "I disagree with everything you said." A typical knee-jerk (with an emphasis on jerk) corporate response.
Amazing, isn't it?. 'I disagree with factual facts...'. Ugh.
Typical republican hack deny at all costs then present no evidence to explain why there is disagreement
Disagrees but can’t present any facts that contradict Reich’s testimony. Just disagreeable for no logical reason.... other than the big companies’ interests.
I just keep coming back to campaign contributions system needing to be drastically overhauled. It was such a slap in America's face back in 2008(?) when supreme court let 'companies count as people' in the middle of that exact controversy.
@@peppertree8244 I agree completely
Not only are they raising prices they're shrinking the product that you're purchasing
Right! I started noticing this happening in the late 90's, early 2000's! The consumer is getting robbed twice! This should be criminal but congress does nothing about it. We are now seeing the effects of 2 things: voter APATHY and not enough, good quality candidates! That's why it's SO important to do your research on which candidates will truly help the American people who are struggling to make ends meet!
Thank you for your insightful and compelling testimony, Secretary Reich. I find it distressing that some Senators refuse to acknkwledge the wisdom of the path to resolution this continuing drain on our economy, choosing instead to further obfuscate complicated economic realities with more inane partisan hogwash. As a result, we all continue to be victims of unrestrained corporate self-interest.
Lindsey knows full well how Exxon, etc al keep his stock portfolio solvent through the pandemic. He's just counting on his constituents being angry, scared and ignorant enough to not notice him and his donors picking every last cent out of their pockets.
RR is undeniably great but when Graham says "I don't agree" to plain facts of record is exactly when a Will Rodgers would say something like "if its raining cats and dogs it doesn't matter if you choose to agree with it, the American people are still going through one heck of a rainy day regardless. Maybe that should interest you." That would open some cracks in MAGA land.
The DNC is horrible at messaging. It's true from the blue dog corporate stooges that intentionally obscure good ideas in what the majority of the public find impenetrable language to the progressives who forget they're not really talking for the beniffit of good faith actors but the blue collar public that the corporately owned politicians keep misinformed. Even the young progressives actually choose to use phrases like "Defund the Police" that frankly, and rightly, terrifies anyone who doesn't already know what they _actually_ entail... Awful, awful messaging.
That's because they (senators) benefit from the poor and middle class
@@dawnjones8804 Yes. They've sold themselves to corporate interests and no longer represent the people who elected them. We need political finance reform.
graham seal the border all problems solved: sadly that half of the USA was part of mexico for 300 yrs.
when the anglos captured La Forida by mercilessly bombing then looting La Habana the florida indians tequesta tribe and free blacks chose to be taken to cuba.
@@jorgegonzalez-larramendi5491 Careful. You might wander into GOP prohibited history territory. Anything that might trigger criticism of white colonialism will be tagged as "devisive" and "unpatriotic". See approved revisionist FL history at the local KKK offices.
Thank you, Dr. Reich. You are one of our best role models on how to speak truth to power.
I love how he handled Graham's question.
🤣
Corporations serving their own best interests and rich people wanting more money?!?!?!? Who would have thunk!
Everyone knows it and our government doesn’t care because they get paid to steal from us
The too five percent pay over half the federal taxes we live off the rich
@@fritzforsthoefel8031 please site your source. And, also, if you are correct with stated data, maybe the better way to look at it is that rich people pay more to taxes because they have benefited the most and grown the tallest in the soil of our society. If we didn’t have the system we do, they maybe wouldn’t have been able to live a life of such opulence.
You are right In communist countries you had your money taken away if you were rich mao when he ruled took rich people's money and gave it to the masses result millions starved
The congressional budget office Tells who pays what and where our taxes go and the treasury department the top five percent pay over half the federal taxes Reich is a communist whoes economic policy's is being followed in California and shunned in Florida guess which state is loesing people and what state is gaining people
Thank you for your testimony. I have one small observation, which is that, while I am sure this is blindingly obvious to you, I think many people do need it explicitly pointed out to them that most big corporations pay their senior executives in massive amounts of stock, so that these stock buybacks, which do benefit all stockholders, *specifically* **hugely** benefit the executives themselves. The very people who get to decide about raising prices vs. absorbing costs are personally profiting from their decision. I think when people hear, "This policy benefits stockholders" they tend to imagine that small fry like themselves are benefiting, so that's a good thing....
Good point.
Like Citizens United, or Right to Work.
Basically take anything a Capitalist says, and consider the inverse to be true
Boycott Starbucks!
At the same time, they're forgoing R&D and new business development. That's giving away the future to countries where corporate governance doesn't suffer from this perverse incentive structure.
I don't know if they're still allowed to pay execs with stock options, but if they are then consider that idea but multiplied. As the company ends its buyback spree the execs can sell a few shares at max value. They'll know where the peak is b/c they're the ones doing the buyback. And since the price increase is based on a manipulation that makes it artificial and not a reflection of the quality of the company attached to the stock. So there will be a natural decrease after the peak and the execs would be in a position to short a few as well on the way down. Pretty easy to know when to buy and sell if you know when the prices will go up and down.
This man is such a valuable asset to our country. We are in dire need of reinstating anti-trust and windfall profit taxes as well as raising the income taxes on the ultra rich. Between monopolistic giant corporations and private equity groups we are being strangled.
Absolutely true
Thank Bernie for his support of Robert Reich.
Stock buy-backs should be highly regulated. Period.
It should be illegal. Period.
The rich feel nothing but CONTEMPT for everyone else.
George Carlin - Life is Worth Losing th-cam.com/video/KLODGhEyLvk/w-d-xo.html
And fear. They are terrified that everybody wants what they have and their only defense is to build the wall between us higher.
Why can't we make this common knowledge keep saying it shove it down the throats of the house and the Senate and let them know that we're not going to take this anymore. I've known about this I've entered the workforce in 1978 and watched since the Reagan years and the Advent of the trickle down economy that never trickles down to the people that needed the most and trickles down to the shareholders that get the BuyBacks from the excessive profits cuz they don't know what the hell else to do with them and also the reduced tax rate. Unless we all share in prosperity this country will no longer exist. The reason the Kings and the fascists and the dictators are overthrown is because they keep all of the world's riches that belong to all of the people of the world not just those in power not just those with armies for themselves and their cronies that are backing them up. If this doesn't change nothing will. Robert Reich is truth!
The rich pay almost all the federal taxes the rich pay for the handouts democrats want
Watching Dr. Reich take Ms. Lindsay Graham to the tool shed was a beautiful thing 8:50 - and all Ms. Graham has to say is "I disagree" nothing to see here folks. No response to corporate profits being at a 70 year high. These members of congress are disgusting.
Lindsay mostly disagrees politely between mint juleps, adding his consternation to the quite optimism of Susan Colins and the rest of the Republican A-Team.
*how to tell everyone you sold out to oil companies, without saying it directly*
Lindsay is a lawyer. I personally have never met a lawyer who could budget or understand economics. They do know how to charge though.😂😂😂😂
@@mariondean8499 Yeah. They are challenging the professor or economics to explain economics. Not a good strategy, but asking questions is "hard" and Lindsay loves the spotlight. What's a body to do?
Good to have someone who tells them as simple as possible that all this is pretty much corp greed in so many ways.
But its not
We need to stop saying ' billion '... it is too short and simple a word that doesn't leave an impact. We need to start saying 1000 million......that makes an impact ! So when Kroger posts a $4 billion profit for the year we need to say $4000 million profit as they continue to raise prices.
Stores are gonna give excuses to raise prices anytime. so that wont stop till they got too much back stock cause traffic will stop buying stuff for any reason. then they start lowering prices or put on clearance any or send back for credit any if cant sell it for any reason
@@johnd6389 Ironically your response is _too simple_ to make it clear if you're disagreeing that his message is A) simple as possible, or B) pretty much all corp greed.
In either case pretty ironic. I do agree entirely if you meant it's not as simple as it should be or he'd have forced Graham to go on the record endorsing the Price Gouging of his constituents by his corporate -owners- I mean, _donors._
@@johnassal5838
Its not corporate greed or price gouging. Lol
Somebody should be listening to Robert Reichert, because he makes lots of sense.
Hello, Somebody!!
fish man: He was the Clinton/Gore administration's Secretary of Labor when they sold-out manufacturing to the Indo Pacific Rim, mainly China. The multinational corporatists making a move. The Global Agenda plan warned to Congress 27 years ago: 1994 Congressional Testimony (it may seem boring but is of utmost importance) that included global capitalist billionaire Sir James Goldsmith (he was told the Global Agenda plan) prior to the approval of NAFTA & GATT aka WTO (supported by HWBush, Cheney, Clinton, Gore, Biden, Pelosi, Schumer, Kerry among the dem/gop). Note, Democrat Senator Hollings was Citadel trained & business savvy, the video opens with Senator Hollings calling out Clinton's Amb Kanter's nonsense that Americans would be fine with trading their jobs for cheaper goods from eg. China followed by Sir James Goldsmith's revealing the global agenda plan. th-cam.com/video/dKsTxemQpOY/w-d-xo.html Follow up hearing with Q&A. th-cam.com/video/YnL352yANA8/w-d-xo.html
Robert Reich
@@dougmackey3696 I think autofill might have added something.
@@dougmackey3696 sorry
My conservative mom was right on board with this message. This is absolutely critical and can unite the people. Very well presented and time is of the essence on this. There is so much the opposing sides actually agree on, if we can just push past the party labels and fear that closes minds and supports widening the wealth inequality gap.
Since we are hominids preprogrammed to be memetic we need a common enemy. If the Red and Blue can unite against the oligarchy it seems like a good start. Now, if we could find another world with inhabitants somewhere out in space we have a chance at world peace.
Forward this video to those who may be receptive to the message.
Pushing passed party labels is essential. I give two options to my children and even they are wise enough to see through the manipulation. Me: "Do you want water or milk?" Them: "Juice" Now is a time to work on what we agree on, not what we disagree on. Historically, if people can live a lifestyle that allows for basic contentment, hatred diminishes. At this time, people are looking for someone to blame, which is leading to infighting instead of keeping a focus on the real culprits. What do we all agree upon? Let's start a list, please add to it. I will start. 1)Corruption is bad
Critical Thinking really requires more Good Will and minimal data .. just Consider !
@@bobt9948 3) Crack down on union busting by corporations.
I don't think there has ever been a more well informed group of people that are simply forced to watch nothing change
There’s the problem. Don’t settle when it comes to things that matter. The best we can do as individuals is spend our money on sustainable local companies.
We are being conditioned to believe that all of this madness is normal. IT IS NOT. If we don't vote out the politicians refusing to fix things then we will continue to decline as a nation. I'm 37 and have never been to a doctor because of the cost. Remember property taxes and car payments are always more important than your health.
Conditioned not to care, too. I keep hearing people say that they're so tired of politics that they just don't pay attention any more. That's exactly how things DON'T get fixed. (Obvious, right)? You're so right about voting. I'm always amazed at the low voter turnout, particularly Democrats and Independents. What will it take to get as motivated as GOP voters!? I don't understand it.
I feel that if American democracy fails, it's because too many of us Democrats and Independents got too lazy. WHAT A REALLY BAD REASON! Must change fast.
@@peppertree8244 People often fear what they don't understand. They don't understand because of conditioning and the wealthy own everything. Prices don't have to rise but they say they do to keep profit margins high. That's it, all greed for money and power. But yes people don't realize that to make changes, you have to vote on it. All these sheep getting scared when they hear "socialism" but meanwhile don't really care where their tax money goes and the rich don't pay any. It sucks but we need to pay attention.
@ Justin Hansen. Every word you said - agreed!
why do you have a car payment? you're making some of your own mistakes there, bud.
Thank you, Prof. Reich, for providing facts and speaking TRUTH to corporate greed. The government needs to tax all corporate theft and then give it back to working consumers. This way, companies will be held in check by elected representatives of struggling workers ...
Not that I disagree, I don't. But how is this to happen with republicans in office? They clearly stand with the rich and corporations at every turn. And even republican supporters suffer along with the rest of us.
Listen to them, the republicans are off subject.
Amen!
Only one problem, 99% of the government works for the corporations and are supported by them during their campaigns to run for office.
@@margaretf6147 There was a time when borh parties were after the union vote. I feel that was about the time officials stopped working for the people. Yeah, there were still differences in ideology, but all most all were working for the country in their own particular way, but could reason together on important issues.
It really wasn't that long ago.
Great testimony thank you Robert Reich and Bernie Sanders. We are so lucky to have you both.
No one emails this as clearly as Robert Reich. Thank you so much. A beacon of clarity in a world of foggy disinformation/lies.
Robert and Bernie are my my heroes! I’m way younger than them… but I honestly don’t have the drive to deal with the issues that is happening in the USA. I’m a U.S. citizen, but live in another country for many years! Keep fighting the good fight, gentlemen! Hopefully I’ll return when leadership isn’t greedy and power hungry!
I guess you won't be coming Back!🥺
@@jerometekien2927 honestly I don’t plan to! It’s sad! all the gun shootings and making abortion illegal… I cannot!
Come back Charmaine! We need you! We're stronger with you than without you! lol
Don't forget Sen Whitehouse.
@@tomconverse7862 troll!
I would LOVE to see Reich and Sanders as our next elected leaders! Having intelligence in the WH, what a concept!!
We have a debt bigger than our entire economy meaning when our creditors cash there bonds in for cash they will be able to buy everything meaning no matter how much money you have it won't matter there won't be any thing to buy leaving our children a bankrupt shell of a nation and Sanders wants more government handouts
Will you send half your income to the government to pay for the handouts Sanders promises you if not you are a thief of the worst kind stealing from our children who will have to pay for the handouts we adults demand
Thank you Mr Reich for standing up for American working and the poor people of this country
You're the real deal Robert. Lindsey shut his mouth to facts and truth. He tried to distract but it didn't work!!! Keep up the great work spreading truth and knowledge.
Under trump black Americans were employed at record levels and low income workers wages rose at record levels
I salute & commend your efforts, sir!
Tragically, I have absolutely NO hope that the Senate will actually going to do ANYTHING!
Not without an enormous well placed shove.
They are very well paid to occupy seats of power and ensure that corporations will not be hindered.
Lindsey Graham shouldn't be allowed to ever speak on something he has no knowledge of...which is anything and everything.
This testimony should be heard by every American adult. Unfortunately, the majority of people would rather watch the tabloid and cheap programs than watch and hear the programs that can open their minds about what is being done to their lives. My fear is what happens when patriots like Robert Reich are gone. Who do we have left with conscience and knowledge of the system to try to enlighten us? The future doesn’t look bright.
Yeah my conservative relatives they all say the same thing: Biden stopped the oil pipeline and that raised gas prices and that caused all the other chain reaction with shipping costs going up and so forth and so on. I guess it comes down too, some people are Republican no matter what and some people are Democrat no matter what. they don't really hear anything other than what they want to hear.
His testimony is wrong.
@@donivanpotter2762
Yeah bidens policies created the increase in oil prices. Along with the left shutting the economy down. Learn economics you won't be a leftist anymore.
but what the fuck can you actually do ? I dont live in the US , but I live near the hungary border so I was buying all my food and gas there far cheaper than in my country croatia. now hungary banned us from buying in their country by their lower prices lmao. I would love to not have to spend money but you have to live. and Im so fucking tired of just knowing this shit and then not being able to anything about it. We all know my country is corrupted as fuck and all they do is steal money, corporations just fucking us in the ass for just a "little" bit more profit and it never fucking ends.
Of course Lindsey Graham disagrees with everything that Professor Reich, an internationally respected economist, asserts: Graham's paymasters/donors expect, indeed demand, that he oppose any push to combat corporate greed. And Lindsey lives to follow orders.
Secretary Reich is speaking truth to power. Get rid of Citizens United to end money in politics. Give government back to "We The People" instead of them their donors!!!
the "shafted" are the very ones Republican lies appeal to - until they are educated about how they are being manipulated, they will continue to aid the ones who are "shafting" them - thank you for your efforts to do this
Statistically they're a tiny minority, but the system has been geared to cater to them from the start. Until the average worker realizes the world is a Corporate Theocracy, and the need for a more egalitarian form of govt, they will continue to fall for a rigged game.
You keep trying to vote your way out of quicksand, without seeing the quicksand is the problem.
(Representative Democracy)
The constant prattle about made-up controversies keeps them ignorant of the issues that really impact them and their families. Which is more important - who is using which bathroom or whether a family member dies because they can't afford essential medical care?
Its hard to fix too b/c w hen you say 'manipulated' they have to agree that they got fooled before they can turn it around. Egos are big. Humility is no longer a value. Everyone is a know it all.
Republican zombies have been so trained to believe that it’s the democrats who have shafted them that they aren’t able to see the truth of the matter.
@@mtn1793 What a bunch of snowflakes! They can't get their heads around the fact that they implemented a bad , long term strategy decades ago to focus on a dwindling demographic. If you look at old episodes of All in the Family, early 70s, you can easily see which demographic they began courting. They tried to shift to the "small business" community in the 80s but over the past 40 years, they've done little to support them, leaning toward big-business lobbies to devour small businesses like Kronos eating his children. Many small business people still drink the "American dream" kool-aid. The Dems need to do more to promote small business and support them, indirectly, with tax concessions and other similarly structured breaks that don't look like "hand outs".
I took a lot of macroeconomics courses in college and grad school, and Mr. Reich is a real pro. He knows this stuff considerably better than I, and I a bit better than most senators, in all likelihood. However, lobbyists. End of reform.
Government doesn't set market prices, but they can tax and invest. Not welfare, but invest in the working class
Isn't it just sad to listen to the responses out of the Republican senators during this committee meeting. I'm sure we all knew what the outcome would be. I want to thank you Secretary Reich for all your efforts to help the struggling working class. Please don't abandon them, but keep speaking out.
It's always the same refrain.
"Hey you guys, just let us purge all the Mexicans, and you'll wake up tomorrow rich with a $200 an hour job!"
You'll just have to pick your own lettuce in the fields and flip your own burgers at the drive thru.
Vote BLUE
Pay your fair share of taxes to pay for democrat handouts and quit bankrupting our nation by voteing democrat while not paying for the social programs they want people like you are sending our children a bankrupt shell of a nation why do democrats hate our children
Lindsay "I speak for the oligarchy" Graham...
My Senator Graham Cracker thinks he knows it all - as long as his bunch gets all the money he doesn't give a damn. This is corporate greed. I've been saying it all along - you cannot say you have a short supply, your prices go up, and yet you make massive profits, unless you raise your prices far beyond what they should be. Thank you, Dr. Reich!
Graham is a mosquito that annoys and never gets swatted to oblivion.
The senator from SC ses he doesn’t agree, but dosnt have the brain power to even know what a smart guy like Robert Riech is actually talking about.
Nor does he offer any solutions other than he likes things just the way they are, thank you
Reichs policies are being enacted in California and shunned in Florida guess which state is loesing people and which one is gaining people
Reich is a communist talking about price controls Nixon done this result first time ever shortages of meat Reich is a liar or an idiot
The reason why there are oligopolies is because the government- the FTC specifically - allowed that to happen!
Because the government is getting lobbied by corporate interests.
No, Reagan and the Moral Majority especially that slime Newt Gingrich decided they were going to do a hostile financial takeover of our economy, and the GOP's been riding that gravy train ever since.
The founders of the CIA, FBI, DC and the designers of the Pentagon were all Catholic, so too Tucker Carlson, Beck, Hannity, Spicer, O'Reilly, Ingram, Pence, Hawley, Blasio, Manafort, Prince, Devos, Kavanuagh, Barrett, Gates, Fauci, Abbott, Manchin, Comey, Rogan, Jones, Dore, Kulinksi, Rubin, Pool, Peterson, Dice, Cernovich, Crowder, Molyneux, Fuentes, Yilanopouse, Pompeo, Spencer, Bolton, Abrams, Stone, Desantis, Bezos, Cuomo, Pelosi, Biden, Maddow, Hayes, Cooper, Toocy, McEnany, Collins, Rubio, Cruz, Gutfeld, Mattis, Richardson, Ryan, Huckabee, Gingrich, Sessions, Guiliani, Flynn, Bannon, Barr, Christie, Richardson, Melania, Kelly, Conway, Gionet, Johnson, May, Blair, Thatcher, Trudeau, Merkle, Tusk, Farage, Morgan, Cowell, Ventura, Bolsanaro, Putin, Posobiec, Corbett, Robinson, Woods, Icke, Camp, Duke, Kirk, Watson, Iverson, Ball, House. 7/9 Supreme Court Justices are Roman
Pro life is a foundational Roman tenet.
Mayer Rotschild sent sons to establish banking operations in London, Paris, Vienna, Frankfurt, and Naples. Baron is a title given by the Holy Roman Empire, it is also known as Fiehrer, or Fuehrer.
Baron (Baron and Fuehrer are the same title) Mayer Amschel Rotschild (1744-1812), was a court factor to the German Landgraves of Hesse-Kassel in the Free City of Frankfurt, Holy Roman Empire, who established his banking business in the 1760s.
Wikipedia
"The NWO will begin Sept 17th 2001 during Rosh Hashanah Feast of Trumpets, Resurrection of the Dead, the year 6000 of the Great Pyramid Calendar, in order to cleanse the Earth and Humanity in preparation for his Kingdom on Earth"
British Israel Foundation memo 1922.
Same year Boris Johnson's Great Grandad and Architect of the Armenian genocide Mustafa Ali Kemal sent Trump's Grandad Baron Don Von Drumph to America from Vienna Bavaria, Capital of the Holy Roman Empire. Same place Hitler, Stalin, Lenin, Trotsky, Orwell, Freud, and Boris Johnson's Great Grandad have lived and come from, as well as Einstein.
Oil giants Shell and BP are planning for global temperatures to rise as much as 5°C by the middle of the century. The level is more than double the upper limit committed to by most countries in the world under the Paris Climate Agreement, which both companies publicly support. Oct 27, 2017 (BP and Shell expecting catastrophic 5°C global warming by 2050)
Methane from Beef farming makes up 52% of all greenhouse gases, and is 90% subsidized subsidised. Banning Beef subsidies could stall climate change overnight, but guess who runs the Beef Racket...
"If any one saith that true and natural water is not of necessity for baptism, and on that account wrests to some sort of metaphor those words of Our Lord Jesus Christ. 'Unless a man be born again of water and the Holy Ghost...' Let Him Be Anathama." -COUNCIL OF TRENT Sess VII Canon II On Baptism 1545AD
Matthew 3:11: “I indeed baptize you with water unto repentance: but he that cometh after me is mightier than I, whose shoes I am not worthy to bear: he shall baptize you with the Holy Ghost, and with fire.” The fire in this passage refers to the fire or inspiration of the Holy Spirit.
"Furthermore we declare we proclaim we define that it is absolutely necessary for salvation, that every human creature be subject to the Roman Pontiff"
Pope Boniface VIII, "Unam Sanctam" (Rome 1302)
"There is no graver offense than heresy... and therefore it must be rooted out with fire and sword"
Catholic Encyclopedia volume 14 (1911): 767-768
"A heretic merits the pains of fire... by the Gospel, the canons, civil law and custom, heretics must be burned"
American Textbook of Popery p164 (quoting from the directory for the Inquisitors)
"The true baptism is not by water but fire."
Prophyry of Tyre 300AD
"I propose an Aryan Semitic Alliance to create a superior Caucasian race"
UK PM Benjamin Disraeli 1890
"Today I declare the Crusades won"
General Edmunde Allenby upon capturing Jerusalem 1917
"But they want nothing but Palestine, because Palestine constitutes the geostrategic center of world control"
Dr Nehum Goldmann, 1957, founder of the World Jewish Congress and President of the World Zionist Organization
Great testimony, Dr. Reich!!!
Doing due diligence, Sir Reich, I'm now an admirer. Much respect. You're a HERO. Amen.
I love you Robert !! My favorite person in economics and politics …
Thank you for your service to our country Robert!
Poor robert is explaining over and over to our idiot senate while they just do their BS political shift and STILL taking no action. Our Congress HAS FAILED US!!!
Thank you Sec. Reich. I wish more people in Washington possessed your integrity.
Thank you Robert for giving this specialized insight to this panel. Amazes me how simple minded of a response you got from LG.. "I disagree" ..
We need more people like you working for us Robert. And more people whom actually will work towards working class Americans
He lies
Thank you Secretary Reich
That was absolutely extraordinary to watch your mastery. Thank you for your passion and expertise. I can only hope that Congress will seriously consider your words, and create a new corporate profits law.
@Zach. There is no need to choke out companies. There is Only need to better regulate them to prevent the Thievery and Price Gouging that keeps the majority of US down and the Minority of THEM getting richer by the minute. ( Off our BACKS ).
I like what you had to say to the committee.
I don't think that these people in charge of the government are going to be able to help the working class.
I wish that I didn't fell this way.
It's not a matter of being unable, Chris. They are unwilling because they are some oof the shareholders Prof Reich is talking about. .
Thank you for your testimony, Prof Reich. I wish Congress would stand up for American's citizens the way they're supposed to and vote to help the average worker as you suggested.
I can’t believe that the stupid voters in South Carolina voted graham in again. Geez.
Thanks Sec Reich that was a very good testimony.
I must say that the Sen Lyndsey Graham's remarks twisting what Sec Reich said about action to prevent future skilled labour shortages to to somehow go on about a secure border (which to him means a Trump style wall) confirmed to me that he is a slimeball of the first order.
Two words: Price Fixing
Big companies are price fixing and yes, it's a crime, but don't worry, they won't be prosecuted.
Price fixing definition: " the maintaining of prices at a certain level by agreement between competing sellers".
Show proof
Oh I so wish someone had called timeout after Lindsey G made his "I disagree..." remark and said Okay Lindsey please explain why you disagree......using facts and figures, not just opinion, show us why Secretary Rice is wrong.
Fact is the top five percent pay over half the federal taxes
Fact is you are a thief stealing from our children here is the proof if you draw 1500 a month in ss till your eighty that's over two hundred thousand dollars and you did not pay that much in ss taxes and the average person draws out three dollars for every dollar paid in medicare taxes and the poor get subsidized housing food assistance cash assistance and free healthcare pay your fair share of taxes for the ss and medicare you will receive
I’m not an American, thank God. But I find these videos more entertaining than anything Hollywood can pull off.
Thank you 🇺🇸
I completely agree with Robert Reich’s analysis.
Then pay half your income to the government to pay for the handouts democrats want stop bankrupting our nation by voteing for handout democrats look at the debt clock
The Current and Historical data presented within, provides such valuable Insights.
And these Policies need to be Enacted by Congress and the President.
Thank You, Robert Reich!
Corporations are people, my friend
Money = Speech
#BillionairesShouldNotExist ✊ #TaxTheRich
Economic common sense, as always, from Robert Reich.
I'm reminded of a quote attributed to John Steinbeck, "Socialism never took root in America because the poor see themselves not as an exploited proletariat, but as temporarily embarrassed millionaires." Is American culture partially to blame for these economic issues? If so, what can be done about it?
🤷🏽♀️ those are still believing if they could only find those boot straps…. (Which can only be pulled to put the boots on the feet, and do not pull the person up)
@@katsong3302 I know what you mean but I feel like part of the issue is that both "sides" have a bad habit of blaming the "other". Classic divide and conquer. We would do well to lead by example and I believe that this is happening. Take for example recent efforts by workers at Starbucks and Amazon.
John Steinbeck directed his criticism to the increase of private factory farms and the poorly paid workers, which now are 99% of agricultural production. In his era did Stalinist farm collectivization work better?
Interestingly in both Stalin collectivization and in capitalist factory farming the yields are higher over all, but smaller farm sizes are much more productive per unit area 2 to 10 times more productive. So smaller farms can be competitive.
In Stalin’s USSR the independent half hector plots ended up creating 20% of the overall agricultural production. It’s ironic that it’s the same phenomenon.
Today, what’s missing as far as small farms is a cooperative processing infrastructure getting things from farms to wider distribution. But that could be done and they would need government support to help do it.
I don’t think it’s a one-size fits all issue. What is needed is diversified industry strategies, if a cooperative can work better in certain area it should be encouraged. But in other areas it might not work as well.
Democracy is suppose to regulate the excesses of capitalism. FDR's social programs, in order to help recover from the great depression, is said to have "saved capitalism." The inhumane practices from 19th century gilded age were also eventually stopped by government policy. America is NOT a laissez-faire capitalist country but a country whose capitalism is regulated by democratic representation. The Supreme Court's ruling in Citizen's United gave unprecedented political power to wealth and corporate "personhood.' This ruling needs to be relitigated ASAP, but Republicans will never allow this. Our only hope currently is to vote Democratic and to support every means possible to return political power to the people. If we lose our democracy, our fate will be in the hands of the rich and powerful only. Democracy is not only the talk, but it must also be the walk. If our representatives don't come through, then your guess is as good as mine as to what happens next.
Our democracy is supposed to be an evolving system, governed by reason and the will of the people, neither fully socialist nor capitalist, but ideological dogma prevents this actuality from ever being acknowledged. With corporations in control of our political system, (to paraphrase an oft repeated maxim) it is "governmental socialism for the wealthy and harsh capitalism for the rest of us."
I just dont know how corporations think workers are going to keep having the money to buy their products. Wages are bad and people are maxed out on credit. Beyond dumb
I wonder when workers will realise automation makes them redundant, and that that's the point.
"The NWO will begin Sept 17th 2001 during the first New Moon of Rosh Hashanah, Feast of Trumpets, Resurrection of the Dead, the year 6000 of the Great Pyramid Calendar, in order to cleanse the Earth and Humanity in preparation for his Kingdom on Earth"
British Israel Foundation memo 1922.
Representative Democracy hasn't worked in over 50 years because politicians will always come from the monied classes and be beholden to their Corporate Donors, only way we avoid this apocalypse is to stage a Velvet Revolution to install a Scaled Direct Democracy. Citizen Initiated Referendums with thresholds and a Social Contract using Blockchain technology means communities can vote their own policies without parties or politicians. Banning Beef, Oil, and Fishing Subsidies would stall climate change and habitat degradation overnight. Thorium Energy renders their global oil monopoly obsolete. Police can be actively policed by an independent public authority with the power to prosecute bad actors in our own courts.
Or we can bend over and accept our Orwellian future
Lol, thy know the government will bail them out….it’s the same cycle
2023 is the year that it's all coming home to roost. A recession is on its way.
Skilled workers make decent wages what are talking about
Our family has stock portfolio's that include the companies you mention. Oddly, some of the most profitable ones dropped points on the Stock Market and paid little or no return. Very Strange. Further, many people I know including family, friends, and business associates and I, have never been so disappointed in the loss of quality in so many American made goods, And foreign made goods, And the rip-off prices they're charging. I said Rip-Off prices because, with the profits most are posting why are they spiking up their pricing?... Is it Because Corporate Conglomerates are gobbling up ownership and control of manufacturing, supply, distribution and finance (including banks) everywhere and thereby eliminating Competition so they Can & Do get away with it ?? Is it greedy corporate accounting manipulation? Not to forget, even with Historic Growth in sales and profitability, and he old "Trickle Down" theory So completely exposed as a horrific lie, how is it that so many politicians are pushing that broken idea again (mostly ultra-conservative politicians)? There are some mighty odd politics being pushed out at the benefit of already extremely wealthy corporations and super/ultra rich individuals.
**Please continue pointing out facts like you have today Mr. Reich. Hats off to you, and Thank You.**
The reason is that those ultra conservatives are stockholders in these corporations, and they are also getting dark campaign money from them. This is why they need to be voted out and reforms installed as soon as possible. Midterms matter!
"The NWO will begin Sept 17th 2001 during the first New Moon of Rosh Hashanah, Feast of Trumpets, Resurrection of the Dead, the year 6000 of the Great Pyramid Calendar, in order to cleanse the Earth and Humanity in preparation for his Kingdom on Earth"
British Israel Foundation memo 1922.
Representative Democracy hasn't worked in over 50 years because politicians will always come from the monied classes and be beholden to their Corporate Donors, only way we avoid this apocalypse is to stage a Velvet Revolution to install a Scaled Direct Democracy. Citizen Initiated Referendums with thresholds and a Social Contract using Blockchain technology means communities can vote their own policies without parties or politicians. Banning Beef, Oil, and Fishing Subsidies would stall climate change and habitat degradation overnight. Thorium Energy renders their global oil monopoly obsolete. Police can be actively policed by an independent public authority with the power to prosecute bad actors in our own courts.
Or we can bend over and accept our Orwellian future
I suspect that in your case something else is also involved. It’s not uncommon that a large corporation’ s CEO and board of directors own more than fifty percent of all shares in the company or more and they profit more than the shareholders. Only twenty percent of shareholders return their proxies at best let alone attend the company’s annual meeting and that is how the members of the board get away with voting themselves raises and such high bonuses.
Competition is key.
Thank you, Robert Reich!
Thank you, Mr. Secretary! 🌹❤️🌹
Bravo Richard.
Thank you so much for all the good you do!! ♡
Corporations lobbying power should be mentioned too
Bravo! Pull the covers off of these jackals.
Power and greed will be the demise of America and humanity!!!
Agreed greedy democrats think everything should be free leading to the nations debt being so high it defies beliefs
Best labor secretary ever!!! Wish Biden would hire him again. ( Clinton administration) remember the good ol days when Clinton had us in the green, no debt, the the repukes fucked it all up!!
Again🙄
I keep remembering how Dubyu'# campaign said the Clinton surplus would last forever if they got in, or something to that effect.
I never believed them. I wonder why.
Robert Reich Definetly needs a bigger platform and media coverage!!!
We need to enforce antitrust laws to prevent monopoly price fixing. Capitalism without competition is exploitation.
In those Most Nobel words, thank you, Sir. thank you! thank you! No justice, no no-bliss 🧬😎🇺🇸
I worked for a triple-digit multi-millionaire, who said that the pandemic was the best thing that ever happened to his company, and that he made a ton of money off of the pandemic... but keep in mind, that every politician regardless of their political affiliation, has so much stock in all of these major corporations, and they are getting rich off of what the corporations are doing as well. So, they're not going to risk losing any money, therefore no change will take place.
Spot-on!
What politicians are getting rich show proof or you are a liar
Show proof
Over 100 oil companies went out of business during the pandemic what are you talking about
Cheering and prayers from Dubai. :^)
You gotta laugh. Robert's explaining the problem to the people who already know it full well, because they're part of the problem.
We are having record sales at the place I work. Everyone involved in the actually production of the product is in the union. With the record profits, the top executives gave extra bonus to everyone... except the unions worker. Those that make the least and worked the most through the pandemic.
My hero. Thank you Robert. Thank you Bernie. Make it stop!!!
I side 100% with Dr. Reich. Let's finally stop corporate greed.
Thank you, Robert Reich for your clarity of thought and intelligent presentation.
You guys are TWO of my favorite people. I hope I don't adore you too much.
Thank goodness google and youtube have an unbiased and completely transparent approach to how and why videos get views. I can see this one will for sure remain listed fairly amongst potential viewers that don't already hold these beliefs. I think these companies that benefit from Mr. Reich's buy back explanation would do nothing to keep that as quiet as possible. The ability to hear and understand our government is fantastic and most unbiased............. . . . . . . .
Higher interest rates will just be pushed onto customers, just like their "increased costs".
Lets mention the main perversions of the economic system: stock markets, safe tax havens, elected officials and family members trading stocks, corporates donating money to electoral campaigns and other purposes, loopholes for the wealthy and subsidies to big corporations.
👍 no to fakeconomics
And end Citizens United.
Don’t forget HOUSING costs skyrocketing from opportunistic “passive income stream” investors and hedge funds becoming land lords. Rent in my area has more than doubled in under 4 years. Wages, however much they may have increased have NOT doubled.
We need to restrict Capitalist investment in necessities: food, housing, energy, education, transportation. I’ve been trying to get a job for MONTHS. Don’t give me there is a labor shortage. That’s BS. Companies are consolidating work, automating away jobs. If a company REALLY needed to hire as an existential imperative, they could and would. But when they can show a deficit on the books for unmet labor demands, it’s advantageous to their profit growth.
We don’t need anymore people either. We’re overpopulated now. Although I do admire immigrants.
Then we will have food shortages when Richard Nixon put a price freeze on meat we had a shortage of meat for the first time ever
This is wonderful! Thank you for saying all of this. It is insane that congress is deaf to this info.
This should be on every media outlet, particularly in RED STATES
Clear, concise complete. Well done presentation. Congress is appalling in their lack of fiscal awareness and understanding of basic business principles... not that they will do anything substantive with this information beyond insider trading and accepting more corporate funds.
Republicans are not unaware of how the economy works. Their purpose is to spread disin formation and pass laws that support corporate interests for a price. The workers be damned. We have go e back to the 19th century where there were no regulations or taxes and poverty was rampant for rhe workers.
With low rates, QE, and low growth, they could have increased the salaries, even if they had to lower them in the future (much more difficult), now the window of opportunity is closing, all courtesy of the filibuster.
Why bother if they have buybacks, and other corporate self enrichment financial schemes, such as option rewards for the executives, which come with the buybacks.
Thank you for your testimony Robert Reich.
great job ROBERT, BOTH PARTIES ASKING AND LISTENING IS RARE AT BEST.
you know its going to be good when the video starts off with your 2 favorite politicians, all this is missing is Elizabeth Warren
31% per annum is insane and unjustifiable. Period.
Great testimony! Nice rollup summary of much of what I've learned in your Wealth & Poverty class. Question: By my recollection, the Trump tax cuts included an increase in the standard deduction for taxpaying wage earners, however, the overwhelming benefit (tax savings) was enjoyed by corporations and the wealthy. Is my recollection correct and is it substantiated by data?
Correct...it was like throwing a bone to the lower/middle class to distract from the fat juicy steak going to the wealthy and corporations. Small corporations actually got squeezed even harder and those are typically closely held small businesses.
Before trump's tax cuts our corperations paid some of the highest levels of taxes in the world makeing them uncompetive
Thank you for fighting for us.
Thank you Secretary Reich!!!!