Something Has Changed in the U.S. Economy

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[infidelheretic]

Being taxed even when living and working abroad is a pretty strong incentive not to leave.

[NYmomAdrienne]

They really tax the middle class into barely getting by.. they don’t bother their donors. The dream died

[Blondul]

Socialism for the corporations, capitalism for the individuals

[timeflex]

Capitalism is not about the size of the government (spendings). It is about private rights on means of production for profit extraction. The government is simply a tool to get such profit without annoying complications like competition etc.

[jb.]

Government spendings in virtually every country has dramatically increased over the past few centuries. That's obvious. There wasn't compulsory education, pensions, health care, for expensive infrastructures to pay for a few centuries ago.

[ArawnOfAnnwn]

The West likes to boast about capitalism and free markets as the key to prosperity. Yet as Ha-Joon Chang (economist at Oxford and author of Kicking Away The Ladder) points out - none of them followed that themselves when they were developing. Rather they all had highly protectionist tariffs and extensively used what's now known as Industrial Policy. Which as usual they're returning to after seeing China use it so successfully to outcompete them (and China is only the latest to do so - they practically lifted the idea from South Korea after all). As Chang himself puts it, 'Govts. CAN pick winners'. Open markets are more of a luxury once you've already made it. For poor nations they're more of a gateway to exploitation and ruin, as Africans found out the hard way when they were forced to do it by the IMF Structural Adjustment Programs. For those interested, in economics circles this idea is known as the Infant Industry Model i.e. you build your capabilities first, only THEN do you try to compete globally.

[Moneymakerdx]

Most developed nations are mixed market economies with some level of social democracy. The us been some level of social democracy since the 1930’s

[Mr--_--M]

US: Pay taxes even on money you make abroad

The Rich: Trust me bro

[ayoCC]

Political donations means whoever has the most money shapes the law

[josephjohnson]

They just jailed a whistleblower for showing how the richest Americans get away with not paying taxes. The 25 richest Americans paid nothing or almost nothing by putting their money in Roth IRA accounts. Also getting getting access to “help” for the poor depends totally on the state you live in since they receive block grants and har in charge of how that is distributed, something you should not have left out of this video. It is almost impossible to get help in states like Utah or Tennessee and many others.

[samandreucci]

Big flaw in your analysis: European states with their taxes provide health insurance that Americans shall take out from their pockets. Adjust your percentages with that (~19% of GDP for the US, ~13% for Europe) and you'll see the gap disappears.

[jameswyre]

Not sure if the tone was appropriate given how aggressively capitalist the US remains in general, BUT you hit the nail on the head with the law being for sale. In America, just a small sample is that both parties happily let the ABA (bank lobby) draft 90% of the bankruptcy code rigging in 2005. Signed by Biden (Delaware is the credit card HQ state) and McConnell. For bank money on both sides forever. Sadly, it is voters that bear most of the guilt. Unlike their ancestors who made all of this illegal, they are lazy and careless and never so as ask for campaign finance reform in any numbers according to congress staffs. The problem can only worsen.

[paytonmcdermott]

The supposed levels of redistribution part was some of the goofiest shit I’ve ever seen. You also say America is heading towards being a Chinese economy, but by the measures you set out the Chinese economy is more capitalist than America. What the fuck are we even doing here?

[mmikael]

I think the idea that taxation makes a country less capitalist is strange. Doesn't capitalism just mean privately owned open markets? Taxation and government services will not remove this. Many European countries are far ahead in market openness.

[ThatGuyPotatoes]

Capitalism is a style of economics. It is not a government.

[vessbakalov]

The bottom 50 percent pay 2.3pct of all the US taxes.

The top 1pct make 22pct of all income, but they also pay 43pct of all taxes.

This is absolutely not the case in much of Europe as their tax systems are a lot less progressive than the US. While they have a slightly higher top tax rate, they have a lot higher tax rates for what you would call middle class and even lower class.

[garrenosborne]

lo visual politic editorial shift to the right is interesting maybe an example of polarisation view chasing! 🤔

[joaum]

You're using a different definition of capitalism according to the case you wish to make. Check your video of USA vs China capitalism. Choose one definition and stick with it. That would be coherent.

[JMMRanMA]

This video is overly simplistic, understandably getting into state taxes would require a much longer video. As to independence, 1776 marks the agreement by all 13 colonies to seek independence, but Massachusetts, for example, reacted against the Coercive Acts of 1774 to become the first People's Republic. Massachusetts' colonial parliament refused dissolution as did local governments by town meeting which continued electing representatives to the Provisional Government. Understandably that would also be too much to cover in a short video.

The real problem with this video is the whitewash of the privileges of the wealthy. If the laws were fairly applied, Trump would not have evaded so many taxes in the same way that many of the wealthy evade paying a fair share. They are almost at the "let them eat cake" level at which point they will, in the US, not get a communist revolution but a fair tax revolution. We may also see a turn toward fair and equal justice as wealthy criminals begin to be found guilty in court and punished appropriately.

[FaustsKanaal]

Now this is some real black and yellow bow tie stuff.