As Elon Musk goads Jeff Bezos about his superior wealth, a new report shows that in the US wealthy individuals in the top 1% now have more collective wealth than entire middle class combined.
#JeffBezos #ElonMusk #billionaire #billionaires #MiddleClass
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Why don’t you condemn them…the super rich such as Bezos and Musk? They know exactly what they’re doing and are of course instrumental in avoiding paying tax! They, like most super rich, who really do nothing for the world, are deplorable avaricious ego driven monsters! Shame on them all!
All of this has an easy fix. Lower income taxes and raise capital gains and institute a wealth tax.
Americans need to unite and run this shit like it was intended.
The entire financial system is a rigged pyramid scheme. Every dollar the central banks print is effectively stolen out of the hands of the people.
Would you consider talking about the sell off of Musk's stock and what that means? It brought to mind your other video on how the government subsidizes corporations workforce by allowing them to pay fulltime workers so low that the government has to provide welfare. I think there is also an indirect subsidization of wealthy elite as well.
When you realize that billionaires have this much control over the market simply by the act of buying, holding, or selling, or even announcing they might buy, sell, or hold, that tells you there is something wrong with the way the market works. When someone so damn rich and wealthy is able to do this, then the market it pretty much fake. On Nov. 4, Tesla stock was at about $1,300. Then Musk announced sale, and it fell, then he sold and it fell more. Today is Nov. 15, and it's at about $990. The scary part is, what is to stop Musk or his billionaire friends from buying back all those shares in at the low price he just created? They can manipulate the market all day if they want.
I'm thinking of how many billionaires pay no taxes because of the buy, borrow, and die scheme. The 2008 crisis had our government bailing out the banks rather than the people. Ordinary people lost their homes, while banks who lent money (to people including billionaires) were bailed out. So essentially, our government indirectly subsidizes the wealthy by allowing banks to survive that have no business surviving so that such banks can give loans at low rates to wealthy people so that such wealthy people can avoid taxes and use the loan to buy massive amounts of stock to further build wealth and control the market. It's sickening and much like how the government indirectly subsidizes corporations' workforces by allowing them to pay such low unlivable wages that the government has to pay welfare to fulltime workers of corporations such as Walmart. Is anyone else picking up on this?
The top 1% pay 40% of all taxes.
The majority of them own shares of other companies.
They don't have billions and billions in their pocket.
It's virtual money until they sell their shares.
It is called "the Prado" distribution. Even God knows how that works and why.! And Yeshua talked about it 2000 years ago. "To those who have much , more will be added and to him who has nothing, even what he has will be taken."
How is that "wealth" measured though? It's not like they have massive bank accounts stuffed with cash. In most cases if they were to liquidate that "wealth" into money, it would decrease dramatically in value just from selling.
Even on a smaller scale this is true. Your "net worth" probably includes the value of the mattress you're sleepin on, but try to sell that mattress.. I dare you. 🙄
What is immoral?
Well champagne 🍾 guru
Sitting in a £3 million house by the river with a £10 million plus fortune
…… Mystic hypercrite… That's
How it's traditionally done in this country, governor, is the wealthy employ the non wealthy. To take from them, what is not earned, is theft. Besides, what american comedian is misquoting in your country? Inspiring an awaking? Charity starts at home, governor
I believe you should only be able to retain as much wealth as you are able to contribute to bettering people's lives in society.
Radical maybe, but it better be a Republic/Capitalism when done.
That’s why we’re printing more money lol
Russel, have you all ever reached out to Elon, he went on Rogan, after all. He offered to donate that money to end poverty but as we all know, the systems in place will squander every penny before feeding that many poor. I’d love to see what you and him come up with
Everyone deserves a chance to accumulate wealth and rewarded by society on the basis of their contributing merits, but this endeavor should be pursued in an even playing field under a common set of rules. The man who doesn't work, doesn't eat.
Agree with most of what you say, except infinite growth. Growth measures just what you want it to measure. Say you valued written poems most, infinite growth now seems very realistic, doesn't it? All it takes is to keep having a few poets here and there, and never lose the past works. Likewise, growth now occurs in fields that were unknown two scores ago, and it consumes less and less base materials and energy per unit of growth. Health should be the next big field, were it not for our wanton disrespect for others' pain that crony capitalism amplifies. Should the same resources used in a smarter way not count as growth when they lengthen your good life by several years? Etc.
I'm poor. I have nothing to lose. But I have a guitar and a photo cam. I'm safe. 😁
He said "earners." Good one, mate.
And socialists in America still claim, redistribution of wealth is a good thing….
I'm 100% okay with Elon not paying taxes. He is making the world a better place.. or at least attempting to..
The Covid lockdowns gave uprise to this.
Hi Russel, I've arbitrarily decided that it's immoral to have over 4 million YouTube subscribers when so many YouTube channels struggle. To remedy this immorality and injustice, we need to take 3 million of your subscribers and redistribute them to the poorer YouTube channels.
Just give the checkbook to a crackhead that's the same thing as giving Nancy Pelosi the power of the purse 🤑💰💰💰💰GREED
So we are supposed to believe that Elon Musk got this rich from the sale of pay pal = I CALL BILLSHITTT
One thing you aren't mentioning is that even tho the rich are getting richer, the middle & lower classes are also getting richer as well. Where is your proof that middle class is getting poorer. % of the pie is just that. It doesn't reflect any dollar amount. Also, the 1%'s wealth is largely on paper. Stock they hold that increases, but until they convert it to cash, they haven't actually made any money. I'm being realistic while it sounds like you want the government to redistribute the wealth. The reason they 1% are able to keep amassing dollars is cuz the government continues to print unlimited numbers of them. The 1% seems to be grabbing more of them. I hate to see the bastards getting richer myself. Interesting fact. They talk about the 1% in the nation. If you push that out to the world, a large % of America's middle class falls into the top 1 or 2% in the world. Relatively speaking, America's lower class is probably in the top 50% of income across the world.
Cock rocket! Lmao
Orchastratited Redistribution of wealth 🤑
I don't think that's so scary. There's a difference between the wealth of these billionaires and the wealth of everyone else isn't it? The net worth of a billionaire is usually bound to some shares in a company they own. The moment they decide to sell those stocks for something which is not other stock their value plummets drastically. And you cannot use stock to buy a real world thing like a house (yet), you have to convert them to regular currency first.
Most of us ordinary folks have real money in our pockets, which is a much more powerful tool than what billionaires have.
You are rich.