What if We Actually Taxed the Rich? | Robert Reich

Former Secretary of Labor Robert Reich breaks down seven ways to tax the rich and raise trillions in revenue.

Income and wealth are now more concentrated at the top than at any time over the last 80 years, and our unjust tax system is a big reason why. The tax code is rigged for the rich, enabling a handful of wealthy individuals to exert undue influence over our economy and democracy.

Conservatives fret about budget deficits. Well, then, to pay for what the nation needs -- ending poverty, universal health care, infrastructure, reversing climate change, investing in communities, and so much more -- the super-wealthy have to pay their fair share.

Together, these seven ways of taxing the rich would generate more than $6 trillion over 10 years -- enough to tackle the great needs of the nation. As inequality has exploded, our unjust tax system has allowed the richest Americans to hoard wealth, at the expense of the rest of us.

It’s not radical to rein in this irresponsibility. It’s radical to let it continue.

[Eaode]

the crazy thing about this is that even if we did ALL of those things... THE RICH WOULD STILL BE RICH.

[FirnonZodd]

Someone: suggests billionaires actually pay their fair share
Billionaires: Help! Help! I'm being oppressed!

[zemtek]

What annoys me about corporate sell outs is that they use the argument that the top 1% pays like 45% of the taxes and that they should only pay 1% of the taxes. Which is just stupid when they get 99% of the money. I say if you getting 99% of the money you should be paying 99% of the taxes. Its not fair to make the working class with 1% of the money to pay over half the taxes.

[badger]

The Uber rich became rich because of the national security, markets, economy and infrastructure provided by the people collectively through the state and federal governments. You would think they would be willing to give back just a fraction of their wealth to maintain the national security, markets, economy and infrastructure that made them rich. Why are they so short-sighted? And why are politicians so afraid to make the case? Kudos to Elizabeth Warren and Bernie Sanders, two of the few with the courage to speak up.

[josephregallis]

When America taxed the rich in the past like in the 1950's, America blossomed and prospered! Bring that back and America will prosper again!

[apjtv]

For those who don't know, this guy does really know what he's talking about. He worked in 4 different presidential administrations, including serving as Bill Clinton's Secretary of Labour and serving as a member of Obama's Economic Transition Advisory Board.

I know to some people, these might be obvious and well known facts, but I just thought it was worth reiterating that these aren't just opinions of a random commentator - this is one of the foremost experts on what the US actually needs.

[syllycatface]

The craziest thing is seeing this after it was posted 3 years ago, the worlds billionaires have gained on average well over 50% more wealth in the last 3 years while the working class across the world is getting destroyed even more

[mrlh]

The super wealthy should pay down the deficit and big corporations too. Their tax rate should be minimum 65% on assets. I agree with everything you said here. Well done!

[nate-bczw]

Republicans: “corporations are people!”
Democrats: “ Then let’s tax them as people”
Republicans: “No, wait, that’s not what we meant!”

[jlsc]

End the ability to offshore profits to avoid taxes.

[ag_streak]

Robert Reich is an American hero and a national treasure.

[anthonypierre]

Crazy that I paid 39% in taxes and live check to check. Then they get up and tell you they are for working class, lies. They talk about every other topic, tell bad jokes and insults and ppl are fooled. Smh

[OmaBike]

The company I retired from specialized in tax evasion "pension plans". The partners of our plan created one for themselves. The rich are experts at avoiding taxes.

[lavalampluva]

Republicans don't like taxing the rich. Us working class are all still waiting for Reagan's "trickle down" economics to kick in.

[foxtrotknowsbest]

Best, most concise, clear video on what needs to be done to fix America I’ve ever watched

[finnyjam]

Denmark has a top tax rate of about 64% and it still has an incredible economy + universal healthcare. It would be so much better if the US used rich people’s money to help people instead of being wasted away on yachts and buying Twitter.

[Mr.Mopar.-]

The only difference between a CEO and a common criminal is a business suit and an education.

[jessetorres]

I once saw this image that said that if someone lived for 80 years and earned an average of $5, 000.00 every day of their life, they still wouldn't be a billionaire, but rather have about $150, 000, 000.00. At the bottom of the image was a line that said that no one works to become a billionaire. So yeah, we should be taxing multi millionaire and billionaire individuals and corporations in this country more then we currently are!

[rokyerefinsoxoff]

Been following you for quite a while, Robert. Your work is enlightening and much needed!

[terric]

Elon Musk promised to donate $47, 000, 000 million per month to Trumps campaign but then what if he paid that in taxes? It would be a miracle! Can you imagine it?