For a long time they argued “don’t worry about wealth distribution, just make the economic pie bigger and everyone will benefit.” Well guess what? We DID make the economic pie bigger and the 1% got all the new pieces.
@user-zl2hm1tp4d if you hate the country so much leave. If you hate your health care, just start a company to do it better. Are you poor? Just be a CEO, problem solved. None of these are good excuses for such massive income inequality, nor do they address the actual anti-consumer behavior of these monopolies
I have a local private water park. So now my boss can under pay me so he can go to a private water park. Disney now has paid fast passes, so now the lines are longer for this working-class. I just went to a carnival with fast pass lines. The lines where crazy slow while I watched the rich get right on immediately. Not only they make 200 times the salary they get on the rides immediately and I wait forever. And will never visit that private water park. Let's not forget apartment buildings going up all over my city and no working-class homes being built. Trickle down economics suck. Maybe I can get a job at the private water park to watch them.
And the right call us greedy for asking for a pay rise that matches inflation, whilst staying silent about the top 1 percent making more than the 99 percent, not even just their talking head stooges and politician stooges, but fellow working men and women... Their conditioning runs deep.
Yup. I agree. Something has to change. And the crazy thing is that these trust fund babies will tell us that we just need to work harder stop being entitled and “work your way up” which is hilarious because if everyone “worked their way up” then these trust fund babies would starve. Because no one would be making the food, paving roads, shipping supplies etc.
@@frost1183actually as a trust fund baby it’s pretty obvious that the system is a disaster, nepotism rules, and it’s basically rigged for those born lucky.
Absolutely deplorable. I wish there was something we could do about this. My cities streets are full of the hungry and unhoused and yet I read shit like this all the time. The world is coming to the point of collapse. Maybe the worst part besides the sheer inhumanity of this whole situation, is that so many people just think this is the way things should be. That there's some semblance of fairness to this system. I would do anything to fix this. We are all desperate. I can barely afford rent and food.
I've long said that only revolution will fix this. But the masses aren't up for that. So this massive rape and exploitation of the entire population will continue. For the rest of our lives.
It's not all about looks either. Almost everyone I know is working 50-60hrs and barely saving any $. It's not about looks or intelligence at all. It's about hard work (definitely) and connections.
I dont disagree but i think "leave" is a poor word choice. They absolutely would have taken that too if they had the chance. They didnt leave it. Thats what we took for ourselves
@@smileyface702 I agree that the nightmare that is the food insecurity suffered by ≥1,000,000,000 people who share our planet Earth with us, while less than 1,000,000 bourgeois oligarchs waste more than enough of the world's natural resources on their own commodity fetishes & they waste billions of productive hours of the life & labor of their workers to create unnecessary products for consumption, instead of creating lasting solutions to prevent large quantities of years of suffering by so many people. While hunger is sufficient to expose more than enough nauseating injustice due to Late-Stage Neoliberal/Neofascist Capitalism, I feel that we should always provide the big 5 obvious injustices of ideologies that yield ever increasing inequality: Hunger, Homelessness, Healthcare, Wage-Slavery, State-Violence (ACAB + Imperialism / genocide by US Foreign Policy & Military). If someone has enough money to buy more than 2 residences (2 is only needed for dual-homed or growing families) their wealth should be used to build houses for the unhoused.
@@hipoint40cal39 I suspect that, having no children yet, her cat is her sole heir if she dies. Spinsters have been known to leave mega fortunes for the care of their pets.
Should have happened years ago, but corporate media mitigated it. After the occupy movement, they worked to suppress organized action. We need a new and massive OCCUPY MEDIA MOVEMENT. Take control of the narrative. Expose the evil. March. Stand defiantly. Make the rich FEAR us.
One wonders just how bad it has to become before there's a revolution/reform. My guess is that when automation REALLY kicks off and 50%+ of the population is unemployed w/no gov help, the people will FINALLY have had enough. But it's the US, so they might just pacify them w/more soda and reality shows.
Extreme wealth inequality creates a layered society. Layered socities always implode as history teaches us. Just tax inhertance. Perfectly normal in Europe.
Not true- usually takes an existential crisis that's unmanageable like world war or a deadly pandemic. World War can't happen or that's it for us and the planet. We have vaccines and despite the idiots who won't take em, most people will. The only crisis that can undo this is climate change, and when climate changed historically whole civilizations collapse, not just some kind of revolution. A global event? Who knows what will happen.
@@kingpest13 Getting money out of politics would be a good start. Any party or politician gets an allocated amount of money to run for office. No (super) PACS, no funding. Just honest political debate
@@xavierzabie8184 Crisis dont happen overnight.They are build up, historically over a long time. But pple have a short memory. I would even claim (as an historian) that even complete civilisations can forget very important lessons. Thats why human kind is in an perpetual state of warfare.
At least 20 but yeah. It's sad that the fight for 15 was completely abandoned. We never change anything in this country. It's because most people have bought in.
Class warfare has not gotten started on are side yet. It looks like kidnaping the riches body guards kids and making him kill there boss for you. TLDR: Revers social engineering
For people who want more accurate numbers, the current population of the world is roughly 7,942,645,086. 1% of that is roughly 79,426,451 and 50% of that is roughly 3,971,322,543. We live in insane world.
When someone does sketchy things to 360m people, what's the sentence? Or as I should say, what SHOULD the sentence be for billionaires acting in bad faith?
They did this in France already and ended up getting Napoleon who was was arguably worse then what they had before. Going in the direction of an eye for an eye , taking extremely punitive measures in the form of public executions will always backfire, not too mention capital punishment as a concept is immoral.
all stock sales should have to pay sales tax, and any inheritance over 10 million should be taxed at 90% The tax codes should always incentivize what needs to be done, and disincentivize what's wasteful. Earned wages should have the lowest rate of taxation, and capital gains should have the highest.
Almost literally nothing can happen without investment. Discouraging investment means less investment money, which means people too poor to be able to start their business purely with out of pocket money can't start businesses, or buy existing ones. It means unless you can buy a home entirely out of pocket, you don't get to buy a home. It means no capital available for buying cars, so if you can't afford the price outright you don't get to have a car. Capital gains tax is the single most damaging tax that you can leverage on an economy. Being reasonable with their capital gains tax is why China is the fastest growing economy in socialism's entire history, and why Argentina collapsed twice in five years.
The more wealthy you are the less money you need. Once you own a house and a car all you really need money for is for food and bills. So having a 98% estate tax is super generous
Our lawmakers have no idea how the rise in rent, mortgage, taxes, healthcare, gas, groceries, and insurance are plunging working people into absolute despair.
They will understand when we come for them for real and not some fake storm the capital but some real storm the capital were the people get dead real fast for all there corruption. When the people follow there leaders like the US president killing people even us citizens with no trail/judge or jury. Will be done back onto them.
Why do we Americans never do an Arab Spring-style revolution so the rich will understand who the real Americans are? Like are we gonna be always RUclips and Twitter comment sections here?
Apathy has been deeply ingrained into our brains. Plus, just in case we get any ideas, there are about 50 different police forces with military equipment just frothing at the mouth to brutalize and massacre unruly workers.
For almost 100 years reforming the system has been the focus to solving the inherent problems in the system. Still hasn’t worked. Every reform is undone given enough time simply because the system is built to concentrate wealth. To fix things permanently there has to be a fundamental change in the ability to concentrate wealth. Call it whatever you like, but taxes can be changed, regulations can be changed, etc…. As long as things can be changed back to benefit those in power the system isn’t working.
These are the ones that look back at lords and the like to be able to treat people like garbage. Think of it, private areas, removing everyone but those in the club except those serving them. Those with power and those who don’t and you ain’t in it. - George Carlin for that last line. 8:25
It's the way we talk about it when it comes to discussing this with people on the right. I've had some minor success in shifting the thought on this and Medicare for all in my right leaning gaming friend group. I've talked about it using their own logic of patriotism and their good feeling buzz words to get them on my side. What's more patriotic than defending and caring for your countrymen? Usually, they say something to the effect of "yeah thats what being a true good guy and patriot is!" And then extend that to whatever argument I am making. Usually its easy because we should fight for each other and our neighbors against anyone that would harm them here or there... It just comes down to talking to them in language they will listen to and not immediately dismiss. If you slip past that first thin... sort of stupid... barrier they have. Usually, they will feel or think differently about the core concept. Arguing the left point from the right side. Especially while talking about guns and other red meat topics in a positive sense grants you some thin layer of respect from them.
Agreed, they’ve been trained to identify certain words and reflexively reject them. I would also recommend highlighting the injustices in the gaming industry as examples (if necessary/applicable) to kinda hammer home some of this stuff, like why unions are important, why relentlessly seeking more and more money in perpetuity is predatory and self destructive, etc etc
@Hugh Quigley yeah its good to point at adjacent things they like and use that to get them to see the logic in some of the points. Bad part is you still have to avoid words like injustice because they'll equate that to "lefty snowflake" and dismiss it too. I've only found success with a bludgeon of logic pressure they can't worm out of. Or speaking entirely on their level with their lingo and buzzwords and hope that they'll cha get their conclusions from the exchange.... it's really disappointing.
It's funny that you mention that... earlier this month there were three videos of such swimming pool-ception. The second "pool inna pool" video was like "what if we took an underground mall like The Oculus and filled it with water". The third was so nuts, imagine getting sucked from one swimming pool into another.
No matter how hard you work, you can't work literal millions of times harder than someone working at mcdonalds. You're a billionaire not fucking larry from gumball
Come on, it's not about how hard you work physically, it's about the value you create. Someone at MacDonalds is just going through the motions, mindlessly following a set of instructions. They're not solving any problem nor creating anything original.
@@Raphael4722 And most of the value they create can now be optimized through AI. Why do they deserve billions, again? It's not like poor people can't do management...
In the Paris Hilton hypothetical, I would agree with Kyle’s position of 500 million or so. Considering the tycoon made their money off the backs of the employees. Mostly likely they were not paid a living wage. Giving the money back to the people would ensure they had money to live well enough they could continue working for the non living wage we have now.
The way we view the worth of a pet is different than how we view the worth of a human. The worth of a pet is essentially how much people would be willing to pay to buy or maintain that pet (like an object being owned), whereas the worth of a human is how much that person earns or has accumulated (like a quantified way to rank someone's productivity). Human worth is not treated like the person is an owned object (for the most part, but that's for another discussion about businesses' control over our lives and the extent of similarities to modern day slavery)
I think that if we made rich people and corporations actually pay their share of the taxes and fix the way our government uses (aka waste money) then we wouldn't need to raise taxes or create a new tax because I believe there would be enough money for health care for all, child care, free education, etc.
I think a valid alternative to "shoving your balls in a blender" is to run for office. Seriously. You have the ideas (I am a long time Bernie Bro) and the energy and charisma to make it happen. Just a thought...
Lol You haven't watched Kyle long, have you? It would take 2-3 old tweets to sink his campaign. Even if he did get in, he's another powerless seat at the behest of the same moneyed interests that control everything already, either through bribery-or blockade. We need a general strike. It's the only peaceful option. They make that impossible, then I can't elaborate any further on what we have to do on this website.
Something I never see talked about is how hoarding wealth slows down the economy. I asked my grandpa about this (hes an economist) as a hunch and he said its exactly correct. If you hoard wealth, that money isnt being spend which means the flow of resources is slowed down
8:05 actually the smug libertarians & maga I've argued with would say these rich aren't welfare queens cause they're creating jobs. Their argument is that even if the rich are getting subsidies from our tax money it's going towards them training & hiring their employees while the poor will just become lazier.
which is just patently absurd because they only way "creating jobs" actually works is when the lower and middle class has disposable income to create demand for the job.
When they say "poured trillions into the economy" that includes the $9 trillion the FED gave to major companies and financial institutions called "quantitative easing" so the stock market wouldn't crash-- look it up. Whenever a politician squawks about the deficit, that's the cause but point to the measly checks we got instead. The Fed raises interest rates to "balance the books" on the quantitative easing of their own making. You and I suffer the consequences so large corporations and the stock market thrive under conditions of global death. I learned this from the ghouls on CNBC who were worried about ending quantitative easing too soon.
Not when you allow it to be leveraged to buy real world things. The wealthy take loans against their stock holding as tax avoidance. It is called buy borrow and die tax avoidance
in the England we have been getting £67 a month off our energy bills since October, to compensate for the surge in energy prices. The right wing government in the UK is using an energy company windfall tax to pay for it.
I guess that really just puts it into perspective how insanely right wing the USA is. Most states have no laws whatsoever regarding rent control, for example. Dude we are so fucked
in case anyone is having an issue recogniseing what "the top 1% captured twice as much wealth as the rest of the population" means, you can also comprehend it this way: top 1% captures 66% of wealth bottom 99% captures remaining 33%
Being that most 1% ers made the money off workers who are not fairly compensated for their contribution to the success of these corporations , your figure sound right.
The rich get richer ... and then richer ... and richer ... and then the system collapses. A tragedy of the commons just like pollution or overfishing. Getting yours doesn't seem to wreck everything but when all of them think that way, the fish go extinct.
I agree in theory about a high estate tax, but in practice the problem with such taxes is that they're very easy to avoid by simply distributing your assets during your life. Which is why a lot of wealthy people do "estate planning" and give away their property prior to their death, so that there's little to no actual value in their estate at the time they die. This is one reason I continue to think a flat wealth tax is the best way to go.
I think the aggressiveness of the estate tax should be based on who they’re giving it to & how they’re involved with the business (or lack thereof). If you’re just handing billions of dollars away to family who did nothing? Tax the hell out of it. If they actually built elements of the company/business and have contributed significantly to it, I’d say that taxation should be lowered (so long as they’re not lying, of course).
Here in Canada if we taxed anyone who makes $10 million or more at least 1% we would see an extra $10 billion in revenue... The richest 1% of Canada owns 26-29% of the wealth of our nation.
“Seeing headlines like these make me want to shove my balls in a blender. If you want to see me and Krystal Ball interview legends like Noam Chomsky, Cornell West, and more…” That is just an incredible transition. I’m truly just in awe
Kyle I love your show, I just wish you would link your sources in the description. Sometimes I wan't to explore the topic more and it would be nice to not having to manually search for everything you're talking about.
Hell we have such complex tax avoidance structures in this country that most rich people don't even have to worry about paying an estate tax. Yeah we need to fix your state tax but we got to fix all those other loopholes as well
Merely taxing the rich is not enough. Capitalists fight to reduce their taxes/defund social programs. To get lasting systemic change, u have to destroy capitalism.
You'd think the "pull yourself by the bootstraps" crowd would agree about taxing dead billionaires. Everybody but people in rich circles are belittled and scolded for not being self made Meanwhile 0 young billionaires are self made. I'd go a step farther and say they shpuld inherit none of the money. They are already extremely privileged that their parents are wealthy as they grow up so they have way more opportunities to create their wealth with their parents' investment/connections
Rather than focusing on taxation to correct income inequality, I believe we need to have policies that focus on correcting the structural issues that cause it. I do think that the rich need to pay their fair & progressive share on income. I also believe there needs to be a far greater focus on taxing capital & investments. I am not actually much in favor of the estate tax, but if you corrected the other issues, it would be less of an issue
You can argue that mass wealth accumulation is actually detrimental to the human race, economy... you name it. I'm sure there must be a way to disincentivize mass wealth accumulation w/o stifling ingenuity and such. EAT. THE. RICH.
For a long time they argued “don’t worry about wealth distribution, just make the economic pie bigger and everyone will benefit.” Well guess what? We DID make the economic pie bigger and the 1% got all the new pieces.
Ratio of CEO pay to worker pay: 20 in 1965, 400 today
@@anmolt3840051 so go be a CEO
@user-zl2hm1tp4d if you hate the country so much leave.
If you hate your health care, just start a company to do it better.
Are you poor? Just be a CEO, problem solved.
None of these are good excuses for such massive income inequality, nor do they address the actual anti-consumer behavior of these monopolies
@@Jesse-dw8fi A very human response.
I have a local private water park. So now my boss can under pay me so he can go to a private water park. Disney now has paid fast passes, so now the lines are longer for this working-class. I just went to a carnival with fast pass lines. The lines where crazy slow while I watched the rich get right on immediately.
Not only they make 200 times the salary they get on the rides immediately and I wait forever. And will never visit that private water park.
Let's not forget apartment buildings going up all over my city and no working-class homes being built.
Trickle down economics suck. Maybe I can get a job at the private water park to watch them.
I bust my ass and work like a dog, breaking sweat after sweat for 60+ hours a week and I'm BARELY getting by. It's not fucking right.
And the right call us greedy for asking for a pay rise that matches inflation, whilst staying silent about the top 1 percent making more than the 99 percent, not even just their talking head stooges and politician stooges, but fellow working men and women... Their conditioning runs deep.
Yup. I agree. Something has to change. And the crazy thing is that these trust fund babies will tell us that we just need to work harder stop being entitled and “work your way up” which is hilarious because if everyone “worked their way up” then these trust fund babies would starve. Because no one would be making the food, paving roads, shipping supplies etc.
We have to pull ourselves up by our bootstraps, but I can't afford boots!
@@frost1183actually as a trust fund baby it’s pretty obvious that the system is a disaster, nepotism rules, and it’s basically rigged for those born lucky.
go postal on Bezos ass
Tax. The. Rich. Before it's too late. It's already reeeeeeaaaalllly late.
How did that go in Cuba for you? Or Russia? The Scandinavian countries tax the shite out of all tax groups btw
Eating the rich is the solution
Even if all the ultra rich were incredibly hard working, I would still support an aggressive estate tax.
they're not nearly as hard working as most poor people
@@rosegirl231 of course they aren't. It's a complete lie.
You are right.
@@rosegirl231 you are right.
Absolutely deplorable. I wish there was something we could do about this. My cities streets are full of the hungry and unhoused and yet I read shit like this all the time. The world is coming to the point of collapse. Maybe the worst part besides the sheer inhumanity of this whole situation, is that so many people just think this is the way things should be. That there's some semblance of fairness to this system. I would do anything to fix this. We are all desperate. I can barely afford rent and food.
There certainly are things we can do about it. But we won't. Not enough people are sufficiently desperate yet I guess.
It takes more suffering until it's unbearable and then... tanks and heads will roll.
I've long said that only revolution will fix this. But the masses aren't up for that. So this massive rape and exploitation of the entire population will continue. For the rest of our lives.
We should go to a old French revolutionary tradition to deal with it.
Vote third party and stop supporting capitalism are the only viable solutions right now. Both the Dems and Republicans are owned by big corporations.
"Lucky sperm club"🤣
I'm using that from now on, thanks Kyle
It's not all about looks either. Almost everyone I know is working 50-60hrs and barely saving any $. It's not about looks or intelligence at all. It's about hard work (definitely) and connections.
It's the return of the "Robber Baron" era, but this time, nothing is around to stop them.
They're just men.. Put a plastic bag over their heads and they're gone forever
End Capitalism.
Deadass
Not solely because of capitalism, but definitely as a result of it being taken to the extreme.
Another way to calculate this would be to say they took 2/3rds of all the wealth. 1% took 2/3rds of the wealth leaving 1/3rd for the other 99%.
I dont disagree but i think "leave" is a poor word choice. They absolutely would have taken that too if they had the chance. They didnt leave it. Thats what we took for ourselves
And that's only the new wealth. They already had 90% of the existing wealth.
Leaving 1/3? No, they had to pay us. Otherwise, it's obviously slavery instead of subtle slavery.
Look at the wealth inequality by country and I bet America will be really high on the list along with the UK.
US and Russia are tied for #1 in the world for wealth inequality.
I believe Russia is the worst
Many Americans are surprised to hear that Sweden is high on that list. Unfortunately we don't tax wealth her either. It's a mess
The UK is the America of Europe.
We need a blanket 100% wealth tax on every dollar above $10 million in assets other than primary residence!
This might seem extreme, but until we live in a world with zero hunger and poverty, it seems only reasonable.
@@smileyface702 I agree that the nightmare that is the food insecurity suffered by ≥1,000,000,000 people who share our planet Earth with us, while less than 1,000,000 bourgeois oligarchs waste more than enough of the world's natural resources on their own commodity fetishes & they waste billions of productive hours of the life & labor of their workers to create unnecessary products for consumption, instead of creating lasting solutions to prevent large quantities of years of suffering by so many people. While hunger is sufficient to expose more than enough nauseating injustice due to Late-Stage Neoliberal/Neofascist Capitalism, I feel that we should always provide the big 5 obvious injustices of ideologies that yield ever increasing inequality: Hunger, Homelessness, Healthcare, Wage-Slavery, State-Violence (ACAB + Imperialism / genocide by US Foreign Policy & Military).
If someone has enough money to buy more than 2 residences (2 is only needed for dual-homed or growing families) their wealth should be used to build houses for the unhoused.
@@smileyface702 it's not extreme in the slightest. We made that money for them.
Let me get this straight: 1/5th of American kids are food insecure, but Swift's cat is worth 93 million? Yeah, that's a broken system.
Her cat is not worth more than she originally paid for it; "93 million dollar cat" is just blather-talk of late stage capitalism.
@@hipoint40cal39 I suspect that, having no children yet, her cat is her sole heir if she dies. Spinsters have been known to leave mega fortunes for the care of their pets.
Revolution will come at this rate
Hopefully, sooner than later.
inshallah
Should have happened years ago, but corporate media mitigated it. After the occupy movement, they worked to suppress organized action. We need a new and massive OCCUPY MEDIA MOVEMENT. Take control of the narrative. Expose the evil. March. Stand defiantly. Make the rich FEAR us.
I'm 50. No revolution in sight.
One wonders just how bad it has to become before there's a revolution/reform. My guess is that when automation REALLY kicks off and 50%+ of the population is unemployed w/no gov help, the people will FINALLY have had enough. But it's the US, so they might just pacify them w/more soda and reality shows.
To quote Stephanie Sterling, "They don't just want some of the money, they want ALL the money! 🤑
Sorry. All out of silver.
Is lead okay?
I know. Kyle wants everyone else's money
@@thebryanhigh Weak.
"Captured twice as much wealth" = Exploitation and impoverishment was massively ramped up.
Extreme wealth inequality creates a layered society. Layered socities always implode as history teaches us. Just tax inhertance. Perfectly normal in Europe.
Unfortunately the rich bought our government so change and reasonable policy is very hard to get
It's called a caste system
Not true- usually takes an existential crisis that's unmanageable like world war or a deadly pandemic. World War can't happen or that's it for us and the planet. We have vaccines and despite the idiots who won't take em, most people will. The only crisis that can undo this is climate change, and when climate changed historically whole civilizations collapse, not just some kind of revolution. A global event? Who knows what will happen.
@@kingpest13 Getting money out of politics would be a good start. Any party or politician gets an allocated amount of money to run for office. No (super) PACS, no funding. Just honest political debate
@@xavierzabie8184 Crisis dont happen overnight.They are build up, historically over a long time. But pple have a short memory. I would even claim (as an historian) that even complete civilisations can forget very important lessons. Thats why human kind is in an perpetual state of warfare.
Thanks a lot Reagan.
And thatcher
Yep. It's not money that's trickling down.
Meanwhile we have been begging for 15/hr so long it's doubled its requirement to be tenable. We need a 30/hr minimum wage now. This is sick.
That's correct. Compared to 1970, in today's dollars, minimum wage should be $25-30/hr.
@@bbbanks6912 In 1970 the U.S. minimum wage was around $2 in 1970. $2 in 1970 is equivalent to $15.34 today so it just passed.
Trade unions around me (Oregon) start at around $25/hr so that's not a realistic federal minimum wage. $20 would be more suiting for all jobs.
At least 20 but yeah. It's sad that the fight for 15 was completely abandoned. We never change anything in this country. It's because most people have bought in.
@@rossclark704 why is $30/hr bad?
This is what class warfare looks like.
Class warfare has not gotten started on are side yet. It looks like kidnaping the riches body guards kids and making him kill there boss for you. TLDR: Revers social engineering
For people who want more accurate numbers, the current population of the world is roughly 7,942,645,086. 1% of that is roughly 79,426,451 and 50% of that is roughly 3,971,322,543. We live in insane world.
80 million is a lot of people though. Some of this channel's viewership probably fall into that 1%.
This is the result of money in politics
I mean.....could we tax me less?
Sure tax all property equity. The wealthy own far more untaxed property in stocks than the working class owns in homes and vehicles.
We should tax the workers less and tax the owning class way more
@@frost1183 they are taxed way more than us by % and $ amount. The problem are the loopholes
@@peterroberts4415 and also the tax cuts that our leaders allow
@@peterroberts4415 patently false.
$50,000,000 is enough to spend $500,000/year while living to 100.
Now consider putting that money into something like a simple money market account at 2% interest gives you 1 million a year extra to spend....
Billionaires really do deserve to pay for this injustice with their lives
When someone does sketchy things to 360m people, what's the sentence? Or as I should say, what SHOULD the sentence be for billionaires acting in bad faith?
Supposedly, Americans love capital punishment. If that were true, then billionaires wouldn't exist in the states.
@@bluehero-96 The love rich people more. Stupid & immoral -- crap combination.
@@bluehero-96 trying
They did this in France already and ended up getting Napoleon who was was arguably worse then what they had before. Going in the direction of an eye for an eye , taking extremely punitive measures in the form of public executions will always backfire, not too mention capital punishment as a concept is immoral.
Still 0 guaranteed paid days off. Meanwhile literally every European country offers 20+. Better believe nothing will change, either.
If anyone is a lizard person its bezos. Dude looks like a supervillain
YES LMFAO
We're headed straight into an Elysium type existence.
Remember kids: You rejected Bernie. This is your fault!
The DNC - the ultimate welfare monsters - cheated Bernie
Wait, wouldn’t it be that the old and middle aged people rejected Bernie? The youth were famously energized by our main man Bernard.
@@hughquigley5337 Low turnout.
@@andrewzcolvin So, were the previous presidents about to help, is Joe helping?
@@gergarfritz3442 " Low turnout."
-Which would confirm it's their fuckin fault, as I just said!
all stock sales should have to pay sales tax, and any inheritance over 10 million should be taxed at 90%
The tax codes should always incentivize what needs to be done, and disincentivize what's wasteful. Earned wages should have the lowest rate of taxation, and capital gains should have the highest.
Almost literally nothing can happen without investment. Discouraging investment means less investment money, which means people too poor to be able to start their business purely with out of pocket money can't start businesses, or buy existing ones. It means unless you can buy a home entirely out of pocket, you don't get to buy a home. It means no capital available for buying cars, so if you can't afford the price outright you don't get to have a car.
Capital gains tax is the single most damaging tax that you can leverage on an economy. Being reasonable with their capital gains tax is why China is the fastest growing economy in socialism's entire history, and why Argentina collapsed twice in five years.
I'm really starting to hate this world.
The agents of bribery in your country live somewhere.
Just a thought.
Occupy Wall Street 2.0 is what is needed to get started.
You say Occupy...
I say "Overrun".
The more wealthy you are the less money you need. Once you own a house and a car all you really need money for is for food and bills. So having a 98% estate tax is super generous
Is it a surprise that those two things are what most Americans are indebted to?
Don't worry guys it will trickle down soon!! Just wait, any day now
Sure it’s been since the 80s but don’t worry, it trickles down like diarrhea shit mixed with mud
Guys shut up Reagan was right! You’re just too impatient. The money is gonna trickle down soon I swear. Just trust me bro.
(Sarcasm obviously)
Our lawmakers have no idea how the rise in rent, mortgage, taxes, healthcare, gas, groceries, and insurance are plunging working people into absolute despair.
Yes they do, they are bought out by the people doing it
They will understand when we come for them for real and not some fake storm the capital but some real storm the capital were the people get dead real fast for all there corruption. When the people follow there leaders like the US president killing people even us citizens with no trail/judge or jury. Will be done back onto them.
@@RipMinner they know exactly what they are doing.
I need stronger bootstraps
Why do we Americans never do an Arab Spring-style revolution so the rich will understand who the real Americans are? Like are we gonna be always RUclips and Twitter comment sections here?
No mate. Not at all. They are fucked. Soon..
Apathy has been deeply ingrained into our brains. Plus, just in case we get any ideas, there are about 50 different police forces with military equipment just frothing at the mouth to brutalize and massacre unruly workers.
Most Americans live a life the rest of world only dreams of, think we should redistribute from global north to south
KYLE could you put the link to these articles in the description!! I want to find them quickly.
For almost 100 years reforming the system has been the focus to solving the inherent problems in the system. Still hasn’t worked. Every reform is undone given enough time simply because the system is built to concentrate wealth.
To fix things permanently there has to be a fundamental change in the ability to concentrate wealth. Call it whatever you like, but taxes can be changed, regulations can be changed, etc…. As long as things can be changed back to benefit those in power the system isn’t working.
These are the ones that look back at lords and the like to be able to treat people like garbage. Think of it, private areas, removing everyone but those in the club except those serving them. Those with power and those who don’t and you ain’t in it. - George Carlin for that last line. 8:25
I'm a billionair - Kyle is super unfair saying 50 million
I'm not a billionair - Kyle is super reasonable saying 50 million
It's the way we talk about it when it comes to discussing this with people on the right. I've had some minor success in shifting the thought on this and Medicare for all in my right leaning gaming friend group.
I've talked about it using their own logic of patriotism and their good feeling buzz words to get them on my side. What's more patriotic than defending and caring for your countrymen? Usually, they say something to the effect of "yeah thats what being a true good guy and patriot is!" And then extend that to whatever argument I am making. Usually its easy because we should fight for each other and our neighbors against anyone that would harm them here or there...
It just comes down to talking to them in language they will listen to and not immediately dismiss. If you slip past that first thin... sort of stupid... barrier they have. Usually, they will feel or think differently about the core concept. Arguing the left point from the right side. Especially while talking about guns and other red meat topics in a positive sense grants you some thin layer of respect from them.
Agreed, they’ve been trained to identify certain words and reflexively reject them. I would also recommend highlighting the injustices in the gaming industry as examples (if necessary/applicable) to kinda hammer home some of this stuff, like why unions are important, why relentlessly seeking more and more money in perpetuity is predatory and self destructive, etc etc
@Hugh Quigley yeah its good to point at adjacent things they like and use that to get them to see the logic in some of the points.
Bad part is you still have to avoid words like injustice because they'll equate that to "lefty snowflake" and dismiss it too.
I've only found success with a bludgeon of logic pressure they can't worm out of. Or speaking entirely on their level with their lingo and buzzwords and hope that they'll cha get their conclusions from the exchange.... it's really disappointing.
Lmao wtf a cat going to do with 97mil??
“This guy's so rich he has a swimming pool in his swimming pool.”
It's funny that you mention that... earlier this month there were three videos of such swimming pool-ception. The second "pool inna pool" video was like "what if we took an underground mall like The Oculus and filled it with water". The third was so nuts, imagine getting sucked from one swimming pool into another.
Time to eat the Rich!
Be the change you want to see in the world.
Time to cull the poor
@@phenotypeb6843 Try it
No matter how hard you work, you can't work literal millions of times harder than someone working at mcdonalds. You're a billionaire not fucking larry from gumball
Come on, it's not about how hard you work physically, it's about the value you create. Someone at MacDonalds is just going through the motions, mindlessly following a set of instructions. They're not solving any problem nor creating anything original.
@@Raphael4722 And most of the value they create can now be optimized through AI. Why do they deserve billions, again?
It's not like poor people can't do management...
@@Raphael4722 not creating thousands of jobs
Despair's a good word for what I'm feeling over this news.
In the Paris Hilton hypothetical, I would agree with Kyle’s position of 500 million or so. Considering the tycoon made their money off the backs of the employees. Mostly likely they were not paid a living wage. Giving the money back to the people would ensure they had money to live well enough they could continue working for the non living wage we have now.
This vid has some of the best sound bites ever a pure gold mine.
I agree there are just so many good ones.
The third richest pet in the world. LMAO! Like the cat cares. I guess it gets all the gourmet food its' heart desires.
The income is extremely unequal.
Kyle - you are more than fair. Me, I'd be like 'Paris, you get only 1% - use that and your bootstraps'
The way we view the worth of a pet is different than how we view the worth of a human. The worth of a pet is essentially how much people would be willing to pay to buy or maintain that pet (like an object being owned), whereas the worth of a human is how much that person earns or has accumulated (like a quantified way to rank someone's productivity). Human worth is not treated like the person is an owned object (for the most part, but that's for another discussion about businesses' control over our lives and the extent of similarities to modern day slavery)
I think that if we made rich people and corporations actually pay their share of the taxes and fix the way our government uses (aka waste money) then we wouldn't need to raise taxes or create a new tax because I believe there would be enough money for health care for all, child care, free education, etc.
I think a valid alternative to "shoving your balls in a blender" is to run for office. Seriously. You have the ideas (I am a long time Bernie Bro) and the energy and charisma to make it happen. Just a thought...
You gotta be joking here.
That's how we'll fix the wheel, by becoming a spoke on that wheel.
The wheel needs to be broken; It doesn't function for the 99%.
@@waltergrace565 Why not? If an idiot like Trump can run then anyone can!
@@ricomajestic Trump, huh? Haha...
Lol
You haven't watched Kyle long, have you?
It would take 2-3 old tweets to sink his campaign. Even if he did get in, he's another powerless seat at the behest of the same moneyed interests that control everything already, either through bribery-or blockade.
We need a general strike. It's the only peaceful option. They make that impossible, then I can't elaborate any further on what we have to do on this website.
I would say you are in the right ballpark. That child could invest their money and live their life free of financial stress.
Something I never see talked about is how hoarding wealth slows down the economy. I asked my grandpa about this (hes an economist) as a hunch and he said its exactly correct. If you hoard wealth, that money isnt being spend which means the flow of resources is slowed down
Yes, if only more people were aware of this obvious fact.
It isn't a stable society.
Nothing ever happens and I’m tired of hearing about it
Soon, the vast majority will not be able to afford to live a basic existence. Shanty towns will be everywhere.
8:05 actually the smug libertarians & maga I've argued with would say these rich aren't welfare queens cause they're creating jobs.
Their argument is that even if the rich are getting subsidies from our tax money it's going towards them training & hiring their employees while the poor will just become lazier.
which is just patently absurd because they only way "creating jobs" actually works is when the lower and middle class has disposable income to create demand for the job.
There's no arguing with facts with these idiots. Otherwise they wouldn't be libertarians/MAGA.
50M / 2B still generous af...
I hate Bezos et al with the power of a thousand suns, we have to start dropping heads already!
What you "have to" do is experience puberty before you start talking about politics.
@@grandcentral3007 nah he right
@@feargm Another twelve year old. Speak, child, daddy is listening. Did the mean boy at school steal your milk today?
@@grandcentral3007 🍼
@@grandcentral3007 Heads aren't going to drop themselves..
When they say "poured trillions into the economy" that includes the $9 trillion the FED gave to major companies and financial institutions called "quantitative easing" so the stock market wouldn't crash-- look it up. Whenever a politician squawks about the deficit, that's the cause but point to the measly checks we got instead. The Fed raises interest rates to "balance the books" on the quantitative easing of their own making. You and I suffer the consequences so large corporations and the stock market thrive under conditions of global death. I learned this from the ghouls on CNBC who were worried about ending quantitative easing too soon.
I would love it you could regularly give the links to the articles you are discussing :)
Fortunately Kyle does show the exact titles in his videos but yes it would be helpful to have links.
IRS better collect taxes from taylor swift's cat
People need to understand the “2 trillion loss” is just 2 trillion POTENTIAL dollars.
Not when you allow it to be leveraged to buy real world things. The wealthy take loans against their stock holding as tax avoidance. It is called buy borrow and die tax avoidance
Okay, but you'll need to apply the same logic to their gains :)
in the England we have been getting £67 a month off our energy bills since October, to compensate for the surge in energy prices. The right wing government in the UK is using an energy company windfall tax to pay for it.
I guess that really just puts it into perspective how insanely right wing the USA is. Most states have no laws whatsoever regarding rent control, for example. Dude we are so fucked
Imagine hearing Kyle from 11:17 to 11:22 without context. 😅
40-50 million is WAY to kind. How could you ever even spend that in a lifetime?
My coworker says this is really good because they DESERVE that money. The rich just worked harder than all of us according to him.
Tell his wife's boyfriend hi.
Your co-worker must be an idiot. They got so rich by rigging the system to favor themselves, not by working harder or more effectively.
The final arbiter of merit will always be just another schmuck
...At what point we say enough is enough and take our pitchfork out of the sheds?
in case anyone is having an issue recogniseing what "the top 1% captured twice as much wealth as the rest of the population" means, you can also comprehend it this way:
top 1% captures 66% of wealth
bottom 99% captures remaining 33%
Being that most 1% ers made the money off workers who are not fairly compensated for their contribution to the success of these corporations , your figure sound right.
You shouldn't be able to inherit more than a million dollars, imo
The rich get richer ... and then richer ... and richer ... and then the system collapses. A tragedy of the commons just like pollution or overfishing. Getting yours doesn't seem to wreck everything but when all of them think that way, the fish go extinct.
I agree in theory about a high estate tax, but in practice the problem with such taxes is that they're very easy to avoid by simply distributing your assets during your life. Which is why a lot of wealthy people do "estate planning" and give away their property prior to their death, so that there's little to no actual value in their estate at the time they die. This is one reason I continue to think a flat wealth tax is the best way to go.
I think the aggressiveness of the estate tax should be based on who they’re giving it to & how they’re involved with the business (or lack thereof). If you’re just handing billions of dollars away to family who did nothing? Tax the hell out of it. If they actually built elements of the company/business and have contributed significantly to it, I’d say that taxation should be lowered (so long as they’re not lying, of course).
So 8 billion people acquired a median of $2,000 in wealth over two years. 80 million acquired a median of $325,000 in the same time period. Accurate?
Meet the new royalty
Here in Canada if we taxed anyone who makes $10 million or more at least 1% we would see an extra $10 billion in revenue...
The richest 1% of Canada owns 26-29% of the wealth of our nation.
14k:1 CEO to line worker pay ratio… but they totally eeeaaarrrnnneeeddd that!
“Seeing headlines like these make me want to shove my balls in a blender. If you want to see me and Krystal Ball interview legends like Noam Chomsky, Cornell West, and more…”
That is just an incredible transition. I’m truly just in awe
You’re beyond reasonable, Kyle. And great analogy with the welfare queens that they hate.
We the people are the new commodity, to siphon every penny, every bit of energy, every moment of labor from the bottom up like an enormous vacuum
Thats how supply side economics works. scumbag reagan did this.
Kyle I love your show, I just wish you would link your sources in the description. Sometimes I wan't to explore the topic more and it would be nice to not having to manually search for everything you're talking about.
I agree
makes sense to me. I make $135k/yr and I've acquired nothing new. Still paying debts.
Hell we have such complex tax avoidance structures in this country that most rich people don't even have to worry about paying an estate tax. Yeah we need to fix your state tax but we got to fix all those other loopholes as well
7:52
Just a bookmark for myself
if dad has $1 billion, kids should get $100,000
Lmao Taylor Swift’s cat?? Wtf
Conservatives seem to be fixated on 10%.
So I say if you qualify for the estate tax, you can inherit 10% of that wealth.
The center will not hold this is not sustainable
Tax rate on wealthy was 90% in 1960.
... That's why USA was in a middle class GOLDEN AGE from 1946 thru 1979.
Merely taxing the rich is not enough. Capitalists fight to reduce their taxes/defund social programs. To get lasting systemic change, u have to destroy capitalism.
Agreed. Reformists are delusional.
You'd think the "pull yourself by the bootstraps" crowd would agree about taxing dead billionaires. Everybody but people in rich circles are belittled and scolded for not being self made
Meanwhile 0 young billionaires are self made.
I'd go a step farther and say they shpuld inherit none of the money. They are already extremely privileged that their parents are wealthy as they grow up so they have way more opportunities to create their wealth with their parents' investment/connections
Horrifying, geez.
But look how much progress is being made. Diversity. Gender. Historic firsts. Who needs actual material progress?
I agree max inheritance for 1 person should be 20 million TOPS
Rather than focusing on taxation to correct income inequality, I believe we need to have policies that focus on correcting the structural issues that cause it. I do think that the rich need to pay their fair & progressive share on income. I also believe there needs to be a far greater focus on taxing capital & investments. I am not actually much in favor of the estate tax, but if you corrected the other issues, it would be less of an issue
You can argue that mass wealth accumulation is actually detrimental to the human race, economy... you name it. I'm sure there must be a way to disincentivize mass wealth accumulation w/o stifling ingenuity and such. EAT. THE. RICH.