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Americans know wealth inequality is a problem, but what does it look like?
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- Опубликовано: 30 янв 2020
- The growing gap between rich and poor Americans is one of the U.S.’s biggest challenges, with the top 1% controlling more wealth now than at any time in the last 50 years. A recent survey found that over half the country thinks it’s a problem, though most people might not know exactly what wealth inequality looks like. Tony Dokoupil speaks to Americans to see if they know what their “share of the pie” looks like.
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Each weekday morning, "CBS This Morning" co-hosts Gayle King, Anthony Mason and Tony Dokoupil deliver two hours of original reporting, breaking news and top-level newsmaker interviews in an engaging and informative format that challenges the norm in network morning news programs. The broadcast has earned a prestigious Peabody Award, a Polk Award, four News & Documentary Emmys, three Daytime Emmys and the 2017 Edward R. Murrow Award for Best Newscast. The broadcast was also honored with an Alfred I. duPont-Columbia Award as part of CBS News division-wide coverage of the shootings at Sandy Hook Elementary School in Newtown, Connecticut. Check local listings for "CBS This Morning" broadcast times.
“It’s all right to tell a man to lift himself by his own bootstraps, but it is cruel jest to say to a bootless man that he ought to lift himself by his own bootstraps.” - MLK
Socialism isn't a bad word. It means the rich don't get all the pie and they pay a FAIR share of taxes. AND We the People get at least a piece of pie.
The pie slices show how unfair. Even the dumbest amongst us can understand the wealthiest are hogging it all. 9 pieces! Of course those buying a new yacht will never understand nor share.
And now I want a slice of pie.
CBS guy on right irritating me trying to justify the wealth inequality. Quoting Rubio says it all on his position.
" to lift himself by his own bootstraps" you know that originally that meant an impossible task because it it literally impossible to pull you're self up by your own bootstraps lol but over time on the most ironic way possible its come to mean the opposite lol
Let them eat cake
Amen!
The problem is people think capitalism is where everything is fair, and socialism is where everyone gets the same. This is where an uneducated population comes in to play for the wealthy
Go to North Korea and enjoy socialism.
LEFTIES and conservatives think that capitalism is UNFAIR. The problem is that for LEFTIES they think just because it is unfair, that it is BAD. Conservatives think is it unfair, but it is part of life. NOONE IS THE SAME. LIFE ISN'T same for EVERYBODY. If you think that, then you are living in a FANTASYLAND.
Amen preach.. the problem is there's a lot of Americans only get their knowledge from t.v. and don't do research..
@@1flash3571 Right-wing nut jobs like you think, "I have it, so I earned it though my hard work," which is a crock of B.S.
@C B It's capitalists who act entitled to other people's money by living off the labor of others and stealing the fruits based on agreements struck between people with gross power imbalances. The poor allow themselves to be ripped off so they can get something for the result of their labor rather than die of starvation, even if they are fully aware that they are being exploited by a thief.
Money made on that scale is NOT made by the people at the top. It's made by millions of people who work hard, who get degrees and whose labor is grossly under compensated to the point that more and more of us slide continually backward though we're working harder and producing more than at any point in history. Bezos didn't make his own money, he skimmed it off the backs of his underpaid workforce then plopped it into markets where it continues to grow untouched on the effort of millions of people around the world, doing nothing to replenish the labor force that creates it.
wow.....sounds good but unfortunately your just another lemming buying into the BS
@@billygnosis6976 Can you actually refute the logic though? I can imagine you also believe greed isn't bad.
@@billygnosis6976 of course, the subjective part is how much do you keep for your own desires versus helping others. Just because you are compensated at a certain dollar value doesn't automatically make it right. Power imbalances in markets tip the favor of an exchange to the powerful. Do you think all slaves or serfs were happy with their compensation? Or do all tenants today think they are paying a fair amount for rent. Someone with power and little compassion will squeeze out as much as they can from the little guy. It is on the shoulders of the powerful to be just. Just because you can keep x amount for yourself doesn't mean you should. A lot of variables at play.
@David Huberty If wages had kept up with productivity over the last 40 years, we could start out own business. If health care had kept pace with normal inflation, we could start our own business. The playing field isn't level. The top used that money to change all the rules in their favor.
@@billygnosis6976 The irony of you calling someone a lemming when you are not only a chicken supporting Col. Sanders, you want to make his ax for free.
It's so typical for a magat to call facts BS. Delusional: maintaining false beliefs in spite of contradicting evidence. Did you even watch the video? You can get the information in the first three minutes. Was that too long for your attention span?
Debt is masking how poor we really are so most of us aren’t feeling it yet.
Imagine what it will feel like when people are no longer allowed to use debt to get by with 😱😱😱😱😱☹️ ☹️😭😭
Cut the welfare programs and other crazy spending.
@@andreanacalhoun5402 abolish the welfare system and create U.B.I. ( universal basic income ) that way working people benefit from it as well
Preach!👐
Trina B Then why go into debt? That’s on you!!!! 🤦🏼♂️
"The alternative is a *socialist* economy where everyone has the same?"
No, actually there *are* other alternatives... like, a ton of other alternatives. We had another one in the middle of the 20th century.
USA IS A SOCIALIST COUNTRY BUT ONLY FOR THE OLIGARCHY; AKA FASCISM
narrator: a wild false dichotomy appears!
tax cuts for the rich is a form of socialism. so anyone who says that capitalism doesnt have socialist principles are lying
@@randyjohnson9772 Please give me your definition of fascism. I suspect you have no idea what it is.
@Retired & Restless They don't realize fascist has a definition and it's not anyone you disagree with.
I’m a disabled veteran I know I will never sit or smell the inside of a new car or truck,I won’t even own my own home being injured in the national guard broke me because the guard and the VA doesn’t help us period........I’m so in debt and in pain everyday feel like just checking out but when I see my 2 beautiful granddaughters I feel like a rich man because babies don’t see rich they don’t see poor they just see papa ❤️
new cars are for idiots, idiot. you should finance.
"Americans are incredibly optimistic." Aka, gullible.
Yup
Didn’t you know America is being made “great” again?
@@Ethiopianexposer Care to provide any evidence?
B B My question stands. Evidence?
Optimism doesn’t require gullibility. But I suppose if all you can do is blame others for the problems you have, it may look that way
Mrs Anna is legit and her method works like magic I keep on earning every single week with her new strategy
My first investment with Mrs Anna gave me profit of over $24,000 us dollars and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known
Who's this professional everyone is talking about I always see her post on top comment on every RUclips video I watched
I think I'm interested how can I get in touch with Mrs Anna
I lost $1200 carelessly trading on a platform then I was referred to expert Mrs Anna she recovered the loss and made an extra profit of $4600
You can reach her via WhatsApp.👇
Oh sure ±➀➄➀➇➂➀⓪➁➁➁➂🇺🇸
I love the way the rich talk about how they make their wealth!
Michael Lacey, then read "The Millionaire Mind" or "The Millionaire Next Door".
@@gdobie1west988 most people have zero sum game mentality about wealth......... Don't change it
@@pratishu5156 That sounds like a personal choice, there are tools out there to educate people if they want to learn.
I was at a party of a billionaire. I was talking to his banker, a manager level type at a big bank. I started asking about the federal reserve and he had no idea what i was talking about. He was clueless. An empty suit, probably good at golf. Ive seen both sides and yes there are definitely many people who have earned their money (for instance the billionaire that started with nothing and no college education), but it’s clear that most of us are in the place society puts us, be it rich or poor, and there’s nothing inherently different across statuses except that place.
They dont make the wealth, they take it and pay the people making it minimum wage
The myth of "haves" and "soon to haves" is what causes many voters to vote against their own interests. To use that myth as a segue is more than obnoxious and shows that a frivolous press is part of the problem.
Good point about the press being frivolous and part of the problem.
To those who only make 5 figures, anyone making 6 figures is part of the wealthy.
@@JKRoth-jh2im The bottom of those people making 5 figures don't pay taxes!LMAO
Fact: 5 out of 100 U.S. households will break into the top 1% of incomes (roughly $360,000*) for at least 2 consecutive years.
The problem people keep mixing up about these debates is the MAJOR difference between income and wealth. The issue we have today is wealth and not income. Conservatives dismiss unfairness, claiming that people can move up and down. It is true, in terms of income, but much less likely for wealth. Liberals claim unfairness, dismissing that most of us can easily move up the income ladder. There is some truth to both sides but most people miss the big picture.
Finally some damn segments in the morning media about actual topics the American public are worried about.
If they are worried,they should learn how money really works.It is not limited,like pie.The wealthy make "pie".The poor ignorantly give them the ingredients!
@@tompain2751 exactly this is pure propaganda!!
the earth ressources are limited, thus the pie. economy can't grow endlessly, this is a lullaby you've been told since a young age by libertarians willingly to create lots of zombies that think they can get anything they want in life, they just have to work hard and believe in this ideology.
@@robertbidochon7949 The earth's resources are limited,but so are we!Population will adjust downward,eventually!Everything adjusts itself.Life expectancy is already creeping downward.People have fewer children.People would do well to learn how to make themselves self sufficient,and not to worry about who has what!
Please don’t comment on my post with the bs. Make your own post, thank you.
I'm 58 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. We can get by, but cant seem to get ahead. My condolences to anyone retiring in this crisis, 40years nonstop just for a crooked system to take all you worked for,
I feel your pain, as a fellow retiree I’d suggest you look into passive index fund investing and learn some more. For me,I had my share of ups and downs when I first started looking for a consistent passive income so I hired an investment advisor for aid, and following her advice, I poured $130k in value stocks and digital assets,Up 200k so far and pretty sure I'm ready for whatever comes.
@@Robertgriffinne I've been in the red for the past couple months, lost 12k last week alone, Indubitably I've got good companies but profit is still stalling, how did you go around finding an investment-advisor, I wouldn't mind looking yours up.
@@Robertgriffinne sure advisors are outperforming the market and raising good returns but some are charging fees over fees....seeing that their services are in high demand more than ever....Seems more like extortion to me.
@@tradekings5433 Not necessarily , the advisor I use Nicole Ann Sabin is a one-off fee advisor and when compared to what I benefit in returns, it's pretty reasonable.
Aside from inheritance, a lot of people seem to think that if they're rich they earned it because they're amazingly smart. The truth of the matter is they're ridiculously lucky. I've seen tons of brilliant people start businesses that make a lot of sense in places that make a lot of sense and they just never catch. There is a huge luck factor.
To your point money management firms estimate that over the next decade the children of baby boomers will inherit 30 Trillion (Trilllion with a T). The reality is that superrich either win "the sperm and egg lottery" or they are pretty savvy but the system is no longer intended for everyone to have the opportunity to prosper. That went out with Reaganomics Clinton with Reaganomics lite with the trickle down theory .
My dad is a person who came from nothing and has had a great adult life. Even then, he’ll say life is 70% luck and 30% choice. Not one person on this planet controls where or who they’re born to. We all begin from different starting lines so we start our lives based on luck.
Honestly, I think they were overpriced to basically manage money and fail half of the time.
Luck is a small part.Tenacity is more the determinant factor.
@@anavaderduo7548 Everybody has opportunity.Those who take advantage of it will prosper.If they can learn from their mistakes,and avoid instant gratification.
In this country you used to be able to make a good living if you worked hard for it regardless of education or skill set, but not anymore. High school diplomas are all but meaningless for the most part now in terms of finding a decent paying job with one. So going to college now is pretty much a must for any chance at finding a decent paying job, but the cost of college tuitions is sky rocketting to the point where most young adults are under water for the next 20+ years trying to pay their student loan debt off. then you have automation which is replacing people regardless of education or skill set in the work force at an alarming rate. Meanwhile, the gap between the rich and poor will just continue to get larger and larger.
SteelCity1981 and who’s fault is that??
Rich people?
Hahahaha
Wrong.
Government is responsible. And you should be asking for what means are they trying to achieve
Well said, u hit it dead on. Also the youth r starting 2 notice this. Revolution is near!
Get in the trades. I make 6 figures with my h.s. diploma
@@misscracka Tell'em again!
@@misscracka Just curious, what trade are working in?
I love how a lot of the more higher wealth people tend to blame the poor for being poor. Without even considering that a specific set of circumstances may have helped them be where they are (rich or poor). I am a poor college student born into a working class household, and I have struggled due to covid and having to find part time work etc. It's not my fault I don't have money. They're taking my money with the medical bills and etc. Hard to keep things when you have no money and bills that need to be paid.
Why didn’t you go to work first and then attend college when you could afford it?
@@backcountyrpilotnot saying this is the case for this person in specific, but some people that live in poverty arent educated enough financially to know these things, in my opinion its on purpose, theres only so much wealth in the world and if the people on top hold onto it, then they will stay more powerful, look up what % of wealth the bottom 50% of the shares, hell, even the bottom 80% of the us, its not right
The emptiness of the mall is a story within itself. It’s an economic indicator.
Chic Noir29 Andrew Yang speaks about this often.
1matttyler Yes we are all shopped out. Credit all maxed out.
Well, also online shopping. Since Amazon and other online sites, I stopped going to many stores.
Online stores are killing brick and mortar stores. Plus we don’t have to deal with the workers there.
The emptiness of the mall is due to far more online shopping, not because there is less money, that said the middle class and the poor need to stop spending money they don't have and stop using credit cards to pay for everything and get out of debt you can never build wealth if you are in debt
The rich should be taxed higher. We should also be looking at their businesses. Do they pay a living wage to their employees? How many of their employees are on federal welfare or need food stamps, because they refuse to pay a living wage, and basically steal from the taxpayer? If they don't pay a living wage, yet have billions of dollars, they should no longer get any sort of tax break, and they should be fined and jailed for what comes down to stealing federal taxpayer dollars.
Wal-Mart comes to mind
People need to learn how to improve their skills, so they can move up and make more money. I'm sorry to tell you, but a guy flipping hamburgers is not going to make $15.00-$20.00 an hour. Try running a business yourself, or better yet go out and talk to business owners, so they can explain to you first hand how to run a business. Quit playing the victim card.
Gdobie1 West yeah and what kind of living can you afford on that budget ?the 1% needs to pay their fair share no compromise raise taxes to the wealthy No wonder the world hates us
The rich are taxed higher.
Raymond Serpa not true, you should google “who pay the lowest tax rate in the us”
SOCIALISM IS NOT COMMUNISM.
1950S AMERICA was NOT a socialist country. 1950s tax levels on the wealthy and the corporations is all we are asking. So essentially MAGA. Haha
Seriously tho, 1950s tax levels please. :)
Great post.
As if socialism is a bad thing. Look at Europe, you're much better off being poor in Europe than America because of wealth redistribution and government funded healthcare and education.
@michaelatw86 your excuse for us to not tax the elite and corporations is weak. Stop defending a broken system that only perpetuates wealth inequality.
@michaelatw86 Nope. Quality of life indices are pretty accurate and allow comparisons with other countries.
@michaelatw86 RE: 1950s tax levels. So what? How does this relate to current problems?
“A lot of people who have a lot have earned it and made it”
Why do these types never acknowledge the wealth a lot of them were born into, the help, and support they received along the way? None of those people are self-made.
Born on third base and think they hit a triple.
@@scottandrewhutchins Why do you care that they have the money and you don't? I know...You are JEALOUS!!!! Your kind are really EVIL!!!!
They got rich because of their parents and you want a piece of that pie? Who are you to tell others to give you their money? You want to steal their money? Is that what you want? I think you do. You really are a garbage.
So parents providing for their children is bad? You think the retards in the government should take it? Should we try and retroactive assign ambiguous dollars values to every person to "correct" for all of human history? Also, there are plenty of people that get rich without being born into it. The top 1% is very fluid with all the people that go in and out of it. Your comment is extremely ignorant to say the least.
Their parents built generational wealth. Isn’t that the purpose? So your kids have an easier time making it? I can understand the people have more respect for “self made” successful though.
She: "Why not sweet potato?"
He: "Well this was better for moving around on plates."
Me: This dude doesn't know what sweet potato pie looks like.
LOL!
Exactly... or giving an excuse as to why the staple black family's pie can't be the American Pie!!!! I wouldn't eat that Pumpkin Pie either
pumpkin pie is as american as it gets buddy. it's the original thanksgiving pie.
It's "as American as Apple Pie!" Apple! AAAAAPPLE!
@@Talamasca007 apple pie isn't an american invention, pumpkin pie is
The real story is that this aired on CBS
That one guy clearly doesn't know what socialism is, it doesn't give everyone the same things, it simply allows that all people have equal access to necessary things to live. Not a yacht, but good health care, education, food, shelter, clothing, etc. Doing some research recently I discovered that the super-rich can give away large sums of money to charities and still never be less rich . So why not give to their fellow citizens by way of a weighted tax rate?
Christina Wojcik A lot of this starts with race. A LOT.
@@storytel27 agreed A LOT. ( Philppe Shock Matthews with Dr. Jacqueline Battalora via earlier justice man, Im sorry I can't remember his name. I'll go back to find out . )
Why not? Well because then it will all unravel right under their make believe economy. The super-wealthy hoarded so much money away so they can manipulate the world economy through carefully placing bottlenecks in the flow. Wouldn't you get to decide who gets to starve if you held the %50 of all the food? You would hold all the strings.
This is the last chance we have before the milestone that will take our power. I know it sounds like a conspiracy theory but when the technology allows unmanned war-gear to be sufficiently automated and powered they won't need to appease us or deceive us anymore. It will be full-blown indentured servitude aka slavery, or something similar. I don't mean to scare anyone, anyone alive probably won't live long enough to see technology advance to provide for such a scenario but I am thoroughly afraid for humanity's future.
He needs to talk in extreme terms because honesty is a terrible argument for his point of view and he knows it.
The term socialism refers to any system in which the production and distribution of goods and services is a shared responsibility of a group of people. Socialism is based upon economic and political theories that advocate for collectivism. In a state of socialism, there is no privately owned property.
Most people who are very wealthy...are born into it or inherited. Very easy to build a fortune when you have one to start with.
YUPPPP
Tax goes to government not the poor. So Where would the “wealth tax” go. I think the government would waste the money on inefficiently run programs that ultimately do not help the poor.
Daryl liggins Andrew Yang is proposing $1K a month directly for every American Citizen no questions asked paid by VAT tax mostly on big tech companies.
@@edsta714 Who ultimately pays the VAT tax?
This is what I was thinking myself. I'm wondering if it would be better to just cap their income and require businesses to distribute the money amongst their employees more equally.
Tolohtony you’d have to spend $10K a month on non staple items like food, clothing, medicine that will be excluded from 10% VAT to break even. 94% of the population would see a net benefit increase.
“A lot of people who have a lot have earned it and made it.” No...a lot of people INHERITED a lot. THAT’S how they made it. The majority of people who have had better opportunities than others are the same ones who inherited their money or at least come from a family who has. And if you read the history books that explains ALL of the history and not some...you’ll learn exactly how and when all of that originated.
Jennifer Waters That’s right! U saw the yachts lol
Emily Quito I agree. Especially with the eating part😂
Yes! The biggest factor determining what socioeconomic class you will die in, is which one you were born in.
Lauren T sad but true
@@jenniferwaters5949 US doesn't have an inheritance tax?? WTF - a European passing by..
The arguments from the rich are always about how they have earned themselves a good education and worked hard to get where they are. The truth is that the wealth accumulation for the top 1% happens in one way and one way only; decision making. Deciding business strategy and what policies you want your lobbyists -> politicians to make happen. Decisions that make them the highest profits in the long term and stomps the middle 50% and the poor into the dirt. Billionaires don't work harder than anybody else, they just play harder. Much harder.
They play dirty. U either tilt the worlds axis towards good or evil & they've made a CLEAR CHOICE!
Thats a very astute observation. And what is not mentioned, is many of their decisions in the far past or maybe not even in far past were highly corrupt. Deciding to steal money out of their grandmas purse and loan sharking it out, for example, instead of making grandma a nice birthday card. Multiply that by 1,000 along their corrupt way to the top from day one. You look at their businesses and all along the way you see tgese opportunistic and morally questionable decisions.
@@choppergirl Exactly! ILL GOTTEN GAINS!
Risk they take risk. People who work at mcdonalds take no risk whatsoever. Jeff bezoz who took the risk to start Amazon paid off in the end. Millions of people took risk and ended up with nothing its capitalism
@@danielhoyng6588 wrong bezoz dad gave seed money.
This is heartbreaking. This hurts everyone individually and our country as a whole.
Lol
The issue with this video is that it surmises that the pie is a fixed amount. The amount of the pie that Bill Gates has has NOTHING to do with my ability to earn money. I can grow my individual wealth through hard work, saving money, minimizing costs. etc.
Now even a college degree is not guarantee that you will have a shot at success. I have 4 years of college, but because I don't also have 5 years of experience on top of that companies won't hire me into their entry level positions because it is somehow legal for those companies to put interns into those entry level positions. They get free labor so that the intern can show something on their resume.
Hopefully, you're not in debt for those 4 years of college on top of not being able to get a decent job relevant to your degree.
@@dng2usb oh don't worry... I was...
What about starting your own business?
It's super tough for a recent college grad. The market is flooded with college degrees thanks to everyone and their grandma being able to get one (thanks student loan system). Since a degree is common place companies can be more picky. You need that added experience now a days ontop of the degree.
but but but....it can't be are the problem? look in the mirror, what do you see?
Thank you for this reporting. It would be interesting to go back to the yacht show and simply ask them to divide the pie the way they think it is.
If you asked them to divide the pie they way they think it OUGHT TO be, they'd put the entire pie on the wealthiest plate.
I thought the same thing. I would like to see that.
They would NEVER agree to do that ON-CAMERA cos they know what the con is, and they have nothing to gain by exposing it...
@@sealand000 "Let them eat pie!"
I think it would be more interesting (and revealing) to ask the yacht owners to divide the pie they way they think it should be divided. My guess is that many would refuse, so as not to look too greedy, insensitive or out of touch with the bottom 99%. Either way they would make my point.
1 year later: absolutely no change
Congrats America
We can bring down one of the richest dudes by saving our money instead of shopping at amazon.
I haven't bought anything from Amazon in over a decade.
Amazon services are nice if you are old and need groceries or products for the home and can’t drive anymore
Just live within your means and Amazon isn’t a problem
@@Agrippa666 You're a fool. For many low-income people, living within one's means equates to homelessness and starvation. The point is that Amazon *is* a problem and needs to be boycotted.
Ok boomer I guess I’m talking to the wrong iq level
Call it what it is. Greed is a problem.
I agree...
Greed is a negative word for ambition. Ambition is not a problem. Ambitious people make our lives better.
@Donatelli I am not a fan of capitalism but because of capitalism only us is a superpower right
America was doing a lot better when we had the tax rates in effect under President Eisenhower.
America was doing a lot better if you were a white straight male. For everyone else, not so much.
Unfortunately we cannot go back to the 1950s. Our economy now is vastly different than it was then. The high tax rate of 90%+ on the top income bracket in the 70's was repealed because of the expansion of the accounting market was providing clever loopholes that have allowed people and corporations to not pay tax.
@Scott Germany has done a much better job steering their economy and is an export powerhouse. They don't just let the oligarch class soak up every dime there - labor has a say in things. I remember reading about when Mercedes bought Chrysler that the German management was balking at the ludicrous pay packages of their American counterparts, remarking how they believed only founders of companies should be financially rewarded at those levels.
Lmao, did you live during the time he was president?
@@thelastafroman5639 Wages used to closely track productivity growth. If workers produced 10% more, wages also grew 10%. That started changing in the mid 1970s and when Reagan came to power it was totally decoupled. If wages had tracked productivity growth, the 1968 minimum wage of $1.60 per hour (1968 dollars - $11.92 today) would be $24 per hour today.
imagine living in a world where this would be considered fair and fine
Wealthy people aren’t evil. I don’t get why we are alienating people who worked hard to get where they are.
Wait... So you're saying "trickle-down economics" doesn't work? 😯😂
That is how you get crumbs, they trickle down off the plate.
@@rayujohnson1302 Haha!
LOL!
Only economy that work trickle up. The more buying power people have the better the economy. You need people to buy thing to make money.
@@niveax6112 💯‼️👏👏👏
You don't have to give everyone an equal standard of living to raise the MINIMUM standard of living and offer better opportunities to raise one's own standard of living. Trying to lump together the moderates with the extremists is a fool's argument that deserves a slap in the face.
You are right. That man does not want to debate genuinely.
That's what happens with all these political debates. As a true moderate of almost all things at life, it is tiring to watch all these extremists yelling at each other when to me they are all ignorant. Same debate happens in the general socialism vs capitalism debate, where both sides think it's all or nothing.
My teacher had me do this exercise with global inequality when I was in the 7th grade, it was a very impactful lesson
"Tax the rich!"
Because politicians love to justify the increase of taxes based on the mess they created.
And this about sums it up! At least in Chicago...
It's the rich who buy politicians, policies, and lobbyists so... if you don't like the mess you can blame a good bit of it on the people who have the most money.
Because not taxing the rich and other purchased policies are the problem
Four 450-hp motors on one little boat? Effing insanity. It's a "my d**k is bigger than yours" statement. More tax? No, I'd prefer the French solution.
What's the "French solution"?
@@dng2usb I'm guessing the French revolution in the late 1700s
@@dng2usb Google "guillotine"
@@Ericwvb2 @sealand000 Thanks, both of you, lol. I thought the "French solution" was some sort of modern economic policy France was doing, not French Revolution related.
Cowardice?
Fact: It is far easier for a person in the lower classes to move up in the democratic socialist countries of Europe than it is in the good old USA. That is a fact Jac.
some european countries. recent article:
www.epi.org/publication/usa-lags-peer-countries-mobility/
article from 2012:
business.time.com/2012/01/05/the-loss-of-upward-mobility-in-the-u-s/
@M Detlef You either have the irresistible urge to display your ignorance or you are here to be educated. Since you are obviously incapable of finding facts for yourself I will help you.
www.epi.org/publication/usa-lags-peer-countries-mobility/
en.wikipedia.org/wiki/Social_mobility
citi.io/2020/02/04/the-countries-with-the-highest-social-mobility/
www.quora.com/What-countries-have-the-best-social-mobility?share=1
I could go on but everyone knows you for the idiot you are by now. Your welcome. . . .
Open borders and illegals working for less money than a USA citizen has to be dealt with.
They never move up.
@@andreanacalhoun5402 Open border is a myth. No country supports open border. I don't agree with the way they do refugee programs either but to call it open border is a true hoax.
You can redistribute wealth all you want, but unless you redistribute intelligence and a sense of responsibility along with it everything will be a disaster.
SOMEONE WITH SOME REAL SENSE. This is why a lot of athletes and lotto winners go broke in a short amount of time even with the millions of dollars.
What do you think poor people will do? Spend the money? THAT IS THE POINT. Stimulate the economy and get yourself out of debt.
If you think intelligence has anything to do with accumulating wealth, your vastly mistaken.
@@sjpublishing7596 Most will ignore their debt,sink deeper,and blame others!
@@thomasreedy4751 Lack of proper education,keeps people poor.Lack of discipline is a big one too!
Hey, Mark Tedford, I have a master's degree and live in a homeless shelter, and $75,000 in student loan debt I can't pay back. I earned my BA in 199 and my MA in 2005. I became homeless in 2012 because if people wanted to hire me at all, they wanted to hire me through a temp agency and pay me $8 an hour to do low-level office office work that had nothing to do with my degree. I've had eight jobs since becoming homeless. None of them paid well enough or had enough hours to allow me to move out of the shelter. I've been denied Disability on the grounds that I can do a desk job. I went through all of 2019 with no interviews until a staffing agency deigned to contact me in November. The idea that I haven't worked hard and you have is patently false and absurd.
I think it would be helpful to compare what the gap was in the '50s or even the '80s, when our economy was booming and those who were the poorest weren't homeless, on the verge of homeless, but hadn't given up and still had an actual chance. When the woman said she was among the poorest, it was before we'd come to where we are today. I was also at the bottom in the '80s, and my children had a chance. Not the case today!
The level of ignorance among average Americans never ceases to amaze me. This stuff is discussed everhwhere, where have these people been?
Dreaming about joining the 1%.
Why don’t you guys talk about how the top 1% of Californians paid almost 50% of the taxes .
Because that doesn't fit the narrative.
What really should happen is:
local property taxes that favor the nice schools of rich enclaves should be evenly distributed geographically across the US.
This will help to counter the tendency of rich parents to automatically pass on their privilege inter-generationally, based on where they live.
The issue isn't even 100% education these days. You need an education to get rich, but just having an education doesn't mean you'll get a good job. A lot of companies will hire skeleton crews as full time employees then outsource the rest of their labor to just as educated, but underpaid contractors who will jump ship the moment a better opportunity arises.
This man about to get fired for doing this segment 😂
Yep, the CBS executive are about to get called.
...for false "reporting"!
this man reporting on this tidbit report topic on socio-economic inequality just started a revolution .....
It’s very interesting a major media brand is discussing this issue. Thank you for producing and editing this in an objective manner.
I often wonder what’s the quantitive value lost by the economic constructs of racism, sexism, xenophobia, etc.
How many scientific, societal, medical, etc advancements have been suppressed?
How much have we lost because of greed, exceptionalism, colonialism, subjugation, etc?
@michaelatw86 I agree. Your post is quite stupid.
Well you cant actually suppress scientific advances, it just doesn't work out that way. But you can hide their potential impact.
There is no lost value.those things are excuses for a lack of personal responsibility for one's own lot!
@@tompain2751 Someone did a number on you buddy. Lol
@@colbypriest141 What don't you don't like? ...Truth?
This topic needs to be more talked about, no one should be living in poverty and there should be affordable housing for low working incomes, there's people that are working and living on the streets because of the high cost rent going up how fair is that?
@@Mark-xj8bu i agree....
When they say “it may slow economic growth”. They don’t ask “whose economic growth”. the vast majority of population isn’t even really involved in the market.
4:15 really...?! I have degrees plural from competitive universities...perhaps from better unis than some of the yacht people. Worked hard, sacrificed, good grades, graduate school, started my own business at one time. And ended up poor cause I got caught up in the economic vortex that was the 2008/2009 crash. Thanks Wall Street...! I would love the guy at 4:15 to tell me that malarky to my face.
You and millions of Americans! He made money by stealing from Americans during the crash and has the balls to say he earned it
green95gt, what do you mean you got caught up in the vortex of 2008-09?? The only way you lost money was to sell your holdings when the market went down. Had you held on til now, the market has come back 3 fold. My 401k is doing very nicely, thank you. You just need to educate yourself about the markets and how to manage your money. This coming from a lower middle class baby boomer.
@@laurent1144 You are crying about something you know nothing about. People who put money into the market do so at their own risk. Now if they make money doing that, don't get so irritated because you didn't. If you choose to spend your money on other things, and don't save for retirement, you have no one to blame but yourself. Now go buy your lottery tickets and be quiet.
@@gdobie1west988 Well aren't you daft. You can't make money on investments when you have none to begin with (which is essentially the point of this news piece in case you havent noticed...smh). Why did I not have any money back then (or currently) you ask? Because I did not get a good job. Why didn't I get a good job? Cause a bunch of politicians and bankers thought it would be a good idea to use the population as an ATM machine to get out of a colossal hole they dug for themselves. As a result, the economy tanked forcing companies become super efficient which ment downsizing their workforce. BTW...I came out of grad school around 08...just as all this was happening. So much for all that hard work.
Did You learn what you did wrong?Did you just quit,and blame?What did you do?
"I guess the alternative is, do we have a socialist economy WHERE EVERYONE HAS THE SAME?" That seems like a reasonable response. Cuz obviously that's the only alternative to consider. No other way to look at it right?
Disingenuous at best!
That's called the false choice argument. We can keep things exactly as they are now (which benefits me as much as possible), or WE HAVE TO HAVE COMMUNISM!
@Scott No, it's just the way business is. Start your own company, then get back with us.
For 99% we are effectively in a socialist country. The typical range is $23k-$230k after taxes. It’s not like even 1% of the population have sky scrapers or private jets.
Most wealth is earned by crime. 😳
You already know there is something wrong if the wages of ordinary people is lower than the cost of living.
Thank you CBS, please do more reporting like this.
This is not reporting.This is a total lack of economic understanding!
i love how they literally got to eat the rich at the end.
Idk, seems like everyone is doing very well to me. Nearly every home has multiple TVs, a smart phone for everyone in the household, multiple computers, and multiple subscriptions. If you're not doing okay right now, good luck when we hit a real depression
Many poor people want the trappings of wealth but aren't willing to work for it. During the fast food phase of my work like, I worked with a young woman who is a prime example of this.
This young woman, about 22 years old at the time, had two illegitimate children by different men and neither father was involved at all. She and her kids lived with her middle class parents but she still collected public assistance. Chatting with her one day, she mentions that she had gone to school to be a medical assistant, a far better job than cashier at a fast food joint.
I asked why she wasn't working in the medical field and she explained that she had a job in a doctor's office but quit. Quit, why? "Oh, he was always telling me to do things." Things? Sexual favors a la Bill & Monica? Nooooo. "Stop texting and clean up the lab area." "Put the supplies away." "Draw some blood from the patient in room 3." In other words he wanted her to do her job so she quit.
Our soft hearted and soft headed society will continue to give her money because she's poor and has kids. Her parents will continue to support her and take care of her kids. It wouldn't surprise me if she has a couple more kids by now. When her parents die, she'll probably blow anything that she inherits buying things for the current man of the month.
BTW, the young woman in question is white.
Poor people who don't want to be poor go out and find ways to not be poor. Some become wealthy, some middle class.
Think how good our economy would be if we made it more fair.
People could buy stuff in stead of just paying bills.
I hope what makes a good economy isn't that we can just "buy more stuff".
Well while on earth u have 2 fight the good fight. People r waking up
"The gap between rich and poor has been growing consistently for years now... it looks like the playing field is favoring one side"... no sh*t... pretty well sums it up... what's the expression about the definition of insanity... doing the same thing over and over and expecting different results...
Most people have zero idea about building wealth. In one breath, they condemn "rich people" for acquiring their wealth without earning it; but then say "the rich" should give their money to us, who haven't earned it.
Thank you.Reading comments praising this fallacious video,are making me sad for the lack of knowlege in America!
Interesting, but you failed to define wealthiest, upper middle class, middle class, lower middle class and poorest.
Many of us grew up in the poorest class, but we decided to not stay there, we increased our value.
Greed is ugliness they don't want anyone to share the pie all for them!
There’s something so striking about seeing a bunch of people who are only on camera because they were offered free food being juxtaposed with wealthy investment bankers playing with yachts and saying they deserve what they have because they “earned it.”
Wealth gap is not about someone is owning ramborghini and someone is owning honda. It is about when someone is owning 10 ramborghini while someone is starving on a street
What the need to study is how the Wealthy Invest / save , and how the poor spend spend spend. That's more of the factor.
If that is true, poor are behaving far better for the economy than wealthy, as they put 100% of earned money back to economy.
Also, it is a cruel and ignorant comment you are making. If you have to support your family with 18k a year, you don't have any money to save and invest.
Ignorant.
great reporting! effective analogy! well done guys for making the news more practical
False analogy.
My wife is a teacher and I am a stay at home Dad. Definitely not wealthy. Yet I recognize it is immoral to steal from the upper class. Yes the "gap" is bigger, but us on the bottom have benefited.
Jealousy is the real problem.
Dustin Townsend
55% of wealthy people start poor. Meaning they earn it by making smart investments unlike 99% of the population. They earned it! So if they get mad because they are not smart enough to invest. Before you get into debt, learn to manage money and “wealth inequality” will never be a problem for you!
How does taxing the wealthy “redistribute” the money? The gov wastes the money and doesn’t pay their debt. & no I’m not wealthy or even close. It just doesn’t make sense to me. It just seems like taxing them will make them have less, but how does it make other people have more?
Andrew yang. The end
Patrick Doyle exactly. That’s who I’m voting for. I just don’t understand the Bernie sander’s argument. or what they are trying to show here.
👀...If that pie didn't come out of a box with Patti LaBelle's face on it, the 1% can have it...
Lmao
wild reed Honey the 1% probably don’t even know who Patti LaBella is.
Poor people thinking a Walmart pie is top of the line.😂
I have always thought progressive politicians needed to get more VISUAL in their presentations like this, cos otherwise all the lecturing just rarely sinks in for most Americans...
It sinks in to those who are ignorant of the tax structure.
Why do they always act like we have to let more than half the country suffer or have full blown socialism? Is it fear mongering or is their thinking so limited that they can’t imagine a scenario that falls somewhere in between?
Or maybe it’s my thinking that’s limited because I can’t imagine that the one percent have all earned their wealth by working hard all their lives.
Because the politician and presidential candidate is also a self-proclaimed Socialist. But I agree with you. It doesn't havsme to be that way, they want it that way.
There is an in between.Entitlement has been spreading worse,and worse through each generation.With more material success,comes more desire.Contentment,acceptance are not common.Education,true learning,is nearly extinct!The less we look at ourselves,the more we lose of ourselves.
Rich Guy: "Gotta good degrees, went to school"
Me: Why am I not rich?
Financial literacy is how you get them pies. Wealth distribution is as pointless as throwing your 3 years old a book so they can read themselves a bed time story. How often do lotto winners become richer, or even stay rich? lol
Financial literacy is pointless if what you've worked for can be obliterated by a medical emergency. And it wasn't pointless when the rich themselves needed bailouts after they almost brought the global economy down with them.
The only person that cares is Andrew Yang
#MATH
The U.S. is in debt to China, so who really is the richest nation?
The GOP keeps telling you the alternative is mad socialism. It's not. There's a fairer way to do capitalism and we had been doing just that until about 30 years ago when CEO compensations started to explode, when Wall Street started to set the rules to systematically loot for the wealthiest people.
I'm not American, so I don't care, but your colleges offer some of the most ridiculous degrees I've heard of. And graduates complain they can't find good jobs.
You have those trade schools, which seem like a great idea to me, but you ignore them.
A few minutes of research are enough to find out which degrees and which trades pay the most.
Well said sir.The trades here are starving for people who can learn!Colleges are a business.They are capitalizing on statistics that say:"The average college graduate will earn more over their lifetime,than a non-graduate".So they market degrees that they think kids will like.The kids think any degree will get them paid!It worked for the"journalists",so they perpetuate this perceived value.They don't seem to understand what a degree's function is,or how it might earn money.
I love the way this showed the the disparity between the wealthiest and the poorest. Now I would love to see the same with how taxes are paid. Who pays the most and who pays the least!!!!!
Patty Wright- it might be because they have all the money- how you gonna get taxes from someone who has nothing
Look at the history of this country at no time in modern day history have the wealthiest amongst us paid so few in taxes. Yes they do pay more and they should pay even more it is suppose to trickle down remember.
You must be rich
In terms of percentage of income, the poor and middle class actually pay the most and the wealthy pay the least.
Jesus Christ has the true riches.
He’s in heaven were on the arth
He doesn’t exist and you can’t pay bills with faith
@Angelica Basile Amen! I love the promotion of Christ here. I do want to add though that Christ ultimate message is about the love and sacrifice of the father. And he asked us to love each other by his example. To sell our possessions and gove them to the poor. To have a country where so many people have so little and so many so called God lovers dont feel the pain of those who have so little and have compassion on them tells me that many of these so called God lovers dont really know God at all. They dont understand his heart, what situations hurt him, so they must not have a relationship with him. As Christ said, it is by our love that people will know that we are his disciples, not our words.
him cutting it horizontally instead of vertically is killing me
Wait, did he just say a wealth tax isn’t popular among the 1%? So....99% of voters are for it?
Hello CBS Morning, I want to translate the vid to portuguese (BR), please enable the translation contribution feature on the vid. tks
Please don't watch american news. North korea has more honest state run news media than Americans. CBS was started by the CIA.
Please do not pollute portuguese people with this nonsense,They are smarter than this.They were in earlier generations.
I think we all know who the 3% of dislikes are.
Those in full favor of the status quo, they are.
is it wealth inequality when people complain they are broke and yet are buying brand new cars on credit and max out the credit cards and live way beyond there means? its more lack of financial discipline..
Some rich like to tell the poor to lift themselves by their own bootstraps, but spoil their own children with "handouts" of luxurious living.
Explaining this to voters, and in a simple way, is so important. Most don't realize how the wealthiest call a wealth tax "socialism" when some of these candidates' proposals would help the middle and lower middle class actually live the American dream instead of just talk about it.
I worked two jobs all my life and saved every nickel from kindergarten. You can get anything you want as long as you work hard enough for it. I use to work jobs that nobody else wanted. I believe that a half loaf is better then nothing. When I added my income together from both jobs, I then started my retirement at age 13! Hard work does pay off but sometimes you have to work even harder to move up the chain. I started off on the plate of nothing.
It’s because we don’t teach personal finance courses to children in high school/middle school. Many of them will never understand how to be successful. This is the fault of the Department of Education.
"It’s because we don’t teach personal finance courses to children in high school/middle school. Many of them will never understand how to be successful. This is the fault of the Department of Education." The whole economy has been intentionally rigged in favor of the rich and large corporations. In light of such a rigged game, personal finance is helpful but will only make a marginal difference.
The older I get the more I realize the crap we were fed about how great America is, such a crock lmao. That said there could be worse places to live. Fact of the matter life is unfair, since the dawn of humanity it has been that way.
Fairness is not what I want.I want everything to be slanted in my favor!Anyone with a lick of sense does.
So we tax the wealth then what? Where will the money go? I suggest more people pay attention to Andrew Yang and his idea to actually put the money into our hands with a VAT that the top 1% can't escape #thinkharder
All u have 2 do is tax the rich. How come the people with less get taxed more, makes no sense! The rich dont even want 2 pay a flat tax where everyone pays 10%. The rich have fought tooth & nail not to. & have succeeded thus far. The rich r evil.
@@biggmixxo That's why I said listen to Yang, wealth tax has been tried and repealed in all other developed countries because they aren't rich for being dumb, they find loopholes to avoid paying it. A VAT is unavoidable to the rich
@@bryanolivas3821 I think that Yang has some good ideas. I hope he continues to participate in politics.
BRAVO. Thank you!!!!!!! This is excellent.
One thing that doesn't get talked about much is that Yang wants to have financial literacy class in high school. With $1k/mo, if you invest half of it every month, you will have $1 million in 30 years. There is of course more than one way to get out of poverty. UBI can close wealth gap but we have to start asap because the wealthy are already invested. The rest of us have a lot to catch up to.
We should teach critical thinking skills too!I believe kids should not be allowed calculators or computers until high school!It is okay to use a machine to make things easy,but many people can't do math in their head!UbI would only keep money circulating for the benefit of the wealthy!It would also incentivize laziness.
Am I to blame that I worked hard to get a good job and now work 60 hrs a week to make 6 figures?
I too work 6 days a week when I can, but unlike your cushy office job, I work in retail because the jobs in my degree field just aren't hiring right now for things other than temporary campaigns that end in 6 months or a year with no benefits and very little room to go up. Oh and I also only make 5 figures a year working a full-time job in an area where the average cost of renting a decent one bedroom apartment can run you up to $2k a month.
Also, want to talk about hard work? Try being on your feet all day for several hours at a time, waiting on customers of varying personalities and who often come with complicated transactions, pushing heavy racks of merchandise back to the sales floor, keeping an accurate and up to date inventory count of your merchandise so you know what you have on hand to sell to customers (and if you think that technology makes this easier, it doesn't), etc all while keeping an eye out for shoplifters and tag switchers because our loss prevention budget has been slashed drastically by corporate.
When that woman said that "was me" he should have followed up by asking her how she's not there now.
Most important video of the year
If we paid off everyone's debt entirely and then gave them $50k to put in their bank account and a 800 credit score. About half the population would have a negative net worth by the end of that same day.
Some Guy exactly!
55% of wealthy people start poor. Meaning they earn it by making smart investments unlike 99% of the population! So if they get mad because they are not smart enough to invest. Before you get into debt, learn to manage money and “wealth inequality” will never be a problem for you!
I was poor too, lived in my car, I got tired of it. Went to the library and read every single book in finance. I invested and now own over 1.2 million in real estate, 500k in stocks, and Im still growing. I worked and gave up a lot of things but was rewarded. Please it's not that the rich are to blame its the lack of education and drive to move your family tree. The market pays the wealthy based on the value they provide. Without Bezos there would be no Amazon, Without Musk, there would be no Tesla or Space X. Read their stories and strive to become like them. When I was poor I could not help anyone and with the little fortune I built, I can give back to my community.