How to Actually Fix Income Inequality

--Audience Question: How do we fix income inequality?

Support The David Pakman Show:

Engage with us on social media:

-Call the 24/7 Voicemail Line: (219)-2DAVIDP

-Timely news is important! We upload new clips every day! Make sure to subscribe!

Broadcast on August 21, 2020

#davidpakmanshow #incomeinequality #taxtherich

[colonelfrogs]

You deserve the 1 million subscribers David, thanks for what yall do on the show.

[smthone]

I hate how low income people in this country consistently vote against their financial best interest.

[shaneyd]

Minimum wage should be flexible based on the cost of each state. Having a federal wage make no sense. 15 an hour in my state is good. 15 in California or Colorado is laughable.

[MrKennyBones]

As a Norwegian, it’s so weird listening to David. He’s basically describing exactly the system in Norway.

It’s not a utopia though. But it’s great to have a safety net.

[ronnyskaar]

Do not forget that public health system, public education, childcare and tax regulations is important income equalizers. Ronny from capitalist social democratic Norway. The best of both worlds.

[Dudemar]

Directly redistribute via a UBI, simple as that -- then build from there

[corbinisfun]

It astonishes me that so many people are deeply concerned about growing income and wealth inequality - and rightfully so - and give no attention to role of ARTIFICIALLY LOW INTEREST RATES and the policies of the Federal Reserve.

[RedZeshinX]

Caps on executive pay, outlaw stock buybacks, increase minimum wage, etc.

[JohnSmith-efsx]

You create an economy where there's way more jobs available than people that want them. This gives workers leverage to negotiate wages. This forces employers to be the desperate ones.

[barbaramohammed]

Glad to get this show back again. It was accidentally deleted. Thank u,

[nvrgngback]

If I had an extra fifty thousand dollars thrown my way, I would need almost nothing else.

[RazgrizWing]

I think the biggest difference between how Americans approach things and how Europe has approached thing is America wasn't destroyed numerous times by cataclysmic wars and extremist ideology, and two world wars. The majority of Europe's modern systems were designed to make sure people don't become a communist or a fascist.

[jessetorres]

In regards to implementing a U.B.I. policy here in The United States, I personally believe we should base it on the poverty level; what the yearly poverty level is (about $12, 800), divide that by 12, give all American citizens age 16 to 65 the payment every month, and every 5 to 10 years update the amount to the current poverty level.

[whatthefunction]

After 1 billion dollars you get a 'you won' trophy and the rest goes to the society that enabled your success.

[MaJoRMJR]

I was asked some questions about how to solve inequality, they asked questions about class and how easy or difficult I felt it was for people to move up from lower classes. For me education alone isn't enough, there needs to be opportunities in the work place to advance, where right now management roles, especially higher up in companies where those jobs tend to see the most nepotism rather than equal opportunities for everyone.

[SephirothSuperKool]

Income inequality isn't going to be solved by instituting one policy over the other. Much like the rest of politics, it's going to take a combination of policies to really change the way things are. In my opinion, I think we should implement UBI and UHC, partially because they work and, more importantly, would act as a "tourniquet" for our hemorrhaging economy long enough for other policies and actions to be implemented.

[hansmuster]

Its quite simple imo, when it comes to sectors beeing privatized or stateowned. Everything that is necessary for the functionality of a society has to be run by the public hand, everything else can be private. That means:
- Water, Power and so on
- Public Transport
- Education
- Communication
- Public Security and Military (including emergency funds)
- A Basic health service
Are all things that need to be run by the state. The reasoning behind this is, that in all of those fields availability and accesability are more important than cost or efficiency.
A gray area for me is food. On one Hand its obviously necessary for survival on the other hand distribution is so crucial here, that i doubt the government could provide it properly... So i think this is an area that just needs to be heavyli regulated.

[GraybeardWithUncommonSense]

Much of the enormous wealth of the very wealthy is the paper value of the stock in the companies they founded. Take that out of their net worth, and wealth inequality flattens enormously.

[aashiparekh]

David, I wanted to say a huge heartfelt thank you for your work on this show. I've been listening for a year or so now and it's been extremely rewarding. I particularly enjoy your debates with people, as well as your analysis on certain issues and the solutions you propose. I'd love to hear your in- depth take on healthcare reform, educational reform, income inequality reform and a whole bunch of issues. It would be awesome to hear your take on some 2020 american domestic and foreign policies if possible! Thank you for all you do!

[alwhistler]

While I do not agree with this guy, I can appreciate what he has to say given he is not a full-blown socialist. While I disagree I still respect this man and his views.