How Wealth Inequality Spiraled Out of Control | Robert Reich

Here it is: The full story of wealth inequality in America.

The top 1% holds 15x more wealth than the bottom 50% combined. If you’ve never watched a video of mine, please watch this one.

00:00 The Second Gilded Age
01:17 The Basics
03:00 Why the Wealth Gap is Exploding
05:21 Why Wealth Concentration is a Problem
07:10 The First Gilded Age
10:20 How to Reduce the Wealth Gap

#ElonMusk #WealthGap #TaxTheRich

[curiouskarl]

wealth inequality is actually well under control, its just that its under the control of the people who have all the wealth

[TallyRocky]

Please do a video about how our representatives in Congress vote against their constituents’ best interests about 70% of the time (because…money). Thx!

[dragoonzen]

the IRS came after me because I forgot to include a $185 payment I received when I file my taxes. the IRS does nothing to go after the millionaires and billionaires evading their taxes. fair system I say in America.

[DonaldMark-nese]

As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make over $400k like some people are this season.

[writerinprogress]

As a UK citizen, this is why I get so damn annoyed when wealthy, retired Boomers - with their cast-iron pensions guaranteed for them by promises made decades ago, their free healthcare, free bus passes, annual heating allowance whether they need it or not, and their properties with mortgages all paid off because *they* bought *their* houses when it was easy and affordable to do so - accuse the younger generations of "spending all their money on stupid things and not saving for the future, like *we* did." YOU DID BECAUSE YOU COULD; your working years were the most secure and financially beneficial in modern history. Your wages kept pace with inflation, property prices were reasonable, you had the benefits of a well-funded National Health Service AND statutory pension scheme, AND most of the public services, like the railways, telephone and utility companies, were all nationalised, so there were no shareholders behind the scenes determined to make a huge, fat profit off those public services. If you'd had to live YOUR working years the way the majority of the younger generations do now, you'd most likely have saved even less than us.

[PremSteve-ygde]

Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.

[hhheee]

We put up with way too much. Almost like the whole of the populace is in an abusive relationship and cant stand up for themselves.

[christopherhumphrey]

I think it starts by banning politicians from taking any money from a person or a business/corporation. This includes their campaigns. Their campaigns should only be funded by those people who wish to donate during their tax filings. When on your tax form it asks if you want to donate to a political party.

[scottcromwell]

"If a man has an apartment stacked to the ceiling with newspapers, we call him crazy. If a woman has a trailer house full of cats, we call her nuts. But when people pathologically hoard so much cash that they impoverish the entire nation, we put them on the cover of Fortune magazine and pretend that they are role models."
~ Lester B. Pearson

[Taervis]

"Second Gilded Age." Finally, someone said it out loud!

[jalight]

"In a few generations almost all America's wealth could be in the hands of a few thousand families."

That one hit me hard 😶

[jopinscott]

It's not about stopping people from obtaining wealth, it's about putting a limit on greed.

[joshclark]

"Wealth inequality is eating this country alive." - Couldn't agree more.

[heyhoe]

Making economics clear and simple to non-economists is some saintly work.
I’m sure it’s been said many times in the comments for your channel but RR, you’re my hero.

[luliby]

This is how I've always put it when talking about the rich actually paying their fair share in taxes. It's nothing to them, but _everything_ to us. Their lives will not change in any fundamental way, but it will enable our society to do what it is supposed to do and actually support real people.

[SarahTaylor_]

Great Video. I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, I'm really just confused at this point.

[lexyswope]

It amazes me how craven they are to fight paying just 2%. The word malicious also comes to mind. Deplorable, too.

[azteclady]

Your content is priceless. Please add voice over to the "chapter" transitions, so that blind and low vision people can benefit from it.

[bobmangino]

This was excellent.
Here's another twisted fact: even without political power or a mountain of assets, the merely "comfortably rich" (not the top 1%, but say in the 2%-5% range) can still avoid significant taxes, particularly between generations, through loop-holey tax avoidance strategies. The minute a new law is passed, sharp lawyers and tax specialists develop work-arounds to it, for $500/hr to $1, 000/hr. I always felt it bizarre that someone would pay, say, $2M over ten years to a tax advisor who sets up all sorts of trusts and inter-family loans for the purpose of avoiding taxes, when that money could otherwise have been paid as taxes and done some good for everyone, rather than that one smart advisor. Some people see taxes as so evil that they are willing to pay nearly the same amount to advisors to just to avoid paying it to uncle Sam. It's bizarre. I speak as a somewhat confused beneficiary of some of these shenanigans.

[rubyvolt]

it did not spiral "out of control." The OWNERS are in FULL CONTROL.