Reshaping the tax system is a focal point in the 2020 Democratic primary, but so far , there is a split in how to approach the issue. Stephanie Ruhle is joined by Washington Post columnist Megan McArdle and a Senior Fellow at the Center on Budget and Policy Priorities Jared Bernstein to discuss the split among contenders on how to close the wealth gap. Aired on 11/25/19.
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2020 Democrats Tangle Over Best Way To Close The Wealth Gap | Velshi & Ruhle | MSNBC
*The way you close the wealth gap is for labor to organize and negotiate with management for better wages and benefits. That is how we developed an economy that used to be the envy of the world; with a BALANCE of power between labor and capital. If you want to live better, WORK UNION.*
@omi god You will have to supply documentation of that with articals for me to believe it. I am not saying your lieing but you might be misinformed
@Mighty Mouse I’m not misinformed. Here you go:
https://www.vox.com/2016/7/25/12270880/donald-trump-racist-racism-history
@Mighty Mouse look it up
@omi godthis is a good point here. https://youtu.be/LaXRFwFpK-A
@omi god Well said, this crap about whos pres. is nonsense.
Every period of growth this country has ever had has included raising taxes on the wealthy. Period. It wasn’t until Reaganomics started that so many billionaires were created in the first place. They instituted policies that would allow this imbalances happen. Greed doesn’t solve the problem. And honestly, the generations of people who allowed the country to rack of this massive amounts of debts should pay back on the credit they allowed to be taken out. They voted for it. They should fricking pay
Sure but what policy made it possible for people to make the money they taxed in the first place it probably had something to do with not taxing people very much if at all. The income tax started out just being for wealthy people now you all pay it because the government wants to give you things. Figure it out.
@Rusty Shackleford We all pay because the “free market” cannot provide everything an economy needs to thrive. Government has a large role to play in basic services, infrastructure and national defense. The real giveaways are to the wealthy in exchange for political donations.
S York The growth of the wealth gap does literally start with Reagan. He cut income tax for the top bracket(250k) from about 70% down to 28% as well as creating the loopholes that allow the wealthiest to pay as low as 11-14%. He gutted the tax system so much Bush was forced to go back on his promise to not raise taxes which basically lost him the election to Clinton. You won’t ever see it mentioned on msnbc of course.
Let me guess from the 50s to the 80s right? It couldn’t have anything to do with the fact that the 50s was right after WW2 when America was the only country with factories still standing that couldn’t have created much growth.
Wow. The uber wealthy that pay a smaller percentage of their taxes than the middle class, and Fortune 100 companies that have zeroed out their taxes, while receiving huge government contracts. Schools and infrastructure have been shorted since Bongo went to DC in order to gut the middle class. This lady is talking nonsense.
Lewis Beshers : Not a fan of Trump, but education and infrastructure have been getting short-funded for decades now.
She’s talking that way because her boss is Jeff Bezos.
She’s just trying to protect her corrupt money.
Corporate media can pretend like Bernie doesn’t exist all they want, just know that if you’re not prepared for Bernie, he is going to roll right over your corruption 🙂
*Americans Deserve Trump 2020*
Mohsin Khan if we can’t pull ourselves together, I agree.
You know Bernie’s a millionaire now right? He donates about 1 percent to charity… I’m not sure he’s really the chosen one to trust an absolute handover of the economy and every freedom money can buy through socialism. Even if you could trust Bernie, what about a successor you dont like coming into power afterward? You’d think distrusting trump so much would teach the left they shouldn’t centralize power that can potentially be abused.
@Mohsin Khan I agree! Give them the chance to vote rather than impeach on hearsay!
Why is MSNBC shutting out progressives? MSNBC is bought and paid for! Boycott!
Lamar Headen – don’t you mean MSDNC ?
“I believe that there will ultimately be a clash between the oppressed & those that do the oppressing. I believe that there will be a clash between those who want freedom, justice & equality for everyone & those who want to continue the system of exploitation.” Malcolm X
The Greendalewitch and I see the democrat base going all angry antifa from my perspective. I watch Jimmie dore just to see some liberals that really care when I’m in a bad mood.
P J I like this one 🙂
@Toward Treatise Wait wut? Are we, a leftist and a right having a reasonable discussion? Wut? Anyway, yeah… the leftist base does not understand why he got the Nobel prize to begin with. he increased drone strike by 300% if im not mistaken., so he got the medal for what?
I want to inform you about socialism. I think you are mistaken about it. Socialism where non government organisations run rampant in society without government control. Those things are places like Hospitals and Roads which serve the people. What Bernie Sanders is advocating for however is Democratic Socialism, which means that society is socialistic but draws on capitalistic aspects. The socialistic organisations are funded by the government, but still have enough control to make independent decisions and help people without government getting involved. One thing like that is Medicare4all.
Contrary to popular belief, Medicare4all is not free. its a single payer system. It basically means that your taxes will go up, but in the end you will pay less than you already do now. There is no more de-ductubles. No more co-payments, not to mention ( *sigh* ) endless phonecalls with the insurance companies. Everyone is ensured, even when you lose your job. Even if you lose your job, you won’t lose your health insurance in the process.
But my personal take on Trump is that I do not want to impeach him, when you consider several factors. 1. Is that when Bill Clinton was almost impeached, his poll numbers went though the roof. 2. Out of all of things to accuse Trump of is a phone-call which is a loose accusation that holds little ground and can fall apart instantly. Democrats in powers are so stupid to focus on that issue, hence I agree with you that its idiotic to try to impeach him because of a phonemail. 3. TheRussiaGate is still fresh in the minds of many, which was idiotic to begin with. The leftist base wanted him to be a Russia asset, but when we realised that was not the case, we decided to learn from our experience and think more deeply about things. However, those democrats in power are so out of touch they think things will go smoothly the second time. And we in the DNC base are close to tearing our hair out at this UTTER stupidity.
I personally think the best change to be rid of Trump is to vote him out in 2020. I disagree with Bernie Sanders that Trump must be impeached, because Sanders thinks those GOP in the senate will agree with him and impeach him which will never happen. They follow Trump blindly. In the last midterms, those republicans that criticised Trump got voted out by the GOP base, hence the GOP party is now more of a party of Trump than anything else.
The Greendalewitch I know, a real conversation, it’s exciting! And I like the spirit of what you’re saying with medicare4all. But I believe it should be done at the state level, so our nation can prosper under different views living differently. And if we’re wrong, which I think there’s a chance it could go… then it wouldn’t affect all of the nation, but only one state, and we could learn from and support one another’s endeavors under the minimalistic viewpoint of providing liberty to live as you will to a greater degree than the stepping stones of liberalism that could lead to real socialism across the board with the wrong leader and the wrong circumstances.
@The Greendalewitch and I just feel like throwing this in there too since you’re reasonable and smart. Thanks for the chat. https://youtu.be/LaXRFwFpK-A
Wrong! Warren has very specific plans to reinvest that money into our infrastructure and new jobs.
Taxing the wealthy will not happen, too many wealthy congressman to vote yes on this!
Americans seem too stupid to understand how many other successful countries are democratic socialist. They just keep defending the rich against their own interest while they buy off politicians to keep them tax free.
Maybe start with closing the corporate federal tax loopholes that allow FedEx and Amazon to get refunds and not pay a penny.
That’s no secret, rich get richer poor get poorer
Can u tell me how value is subtracted or added to an economy? If u cant how do u know if your statement is true?
Ok so me and my neighbors are all farmers we sell corn to the local town people they buy bushels of corn from us for 2.10$ a bushel.Us farmers we make ten cent’s per bushel the other 2$ is cost of production. One day I figured out how to make my corn grow twice as much corn. Now I can sell 2 bushels for 2.10 now the town people can buy twice as much corn for the same price. everyone wants to buy from me now because they get twice the corn for the same price so I sell allot more corn. WHO PROFITS MORE from this? I MAKE THE SAME 10 CENTS PER SALE I make allot more sales now. The townspeople have ALLOT MORE MONEY now because they PAY HALF AS MUCH FOR FOOD.
that is literally how every economy works in a nutshell.
the rich need to earn their wealth giving them billions in tax breaks and subsidies is wrong all they they do is run out and buy bigger boats and mansions and most don’t pay into our tax system any way many don’t live in our country any more they make billions in profit and pay no taxes and get tax cuts no wonder our government is so screwed up those rich people lobby putting huge amounts of money into their greedy hands of our government in turn they give them more free money
Learn from Europe, from the Scandinavian countries.
Without the mineral resources and oil , they’d still be fishermen
Valter Ek …. I get your meaning
We don’t have to reinvent the wheel and there are countries with effective tax laws.
But please, note that some European countries are as dysfunctional as the US.
“reputable” and “economists” contradiction in terms.
MSNBC loves the establishment. They loves to speak for others.
hello man – Bit their favorite Joe Biden is calling Bernie and progressives “elistist”
In terms we can all understand: 1 million seconds = 11.5 days, 1 billion seconds – 31.5 years.
Dear thumbnail candidates: Drop out and support Bernie. Problem solved.
Im almost there. Im as close as I was when I voted for Trump just for fun.
Breaking News: MSNBC has changed its name to MSDNC
“Wealth Inequality” in our society is “Power Inequality,” which definitely does not equate to “Democracy.”
Jared Bernstein aptly describes the link between wealth and power. Megan McArdle sounds like a paid spokesman for the wealthy.
Those who believe themselves to be in the dominant position in our society have feared social justice and equality for all since the British Empire first discussed outlawing slavery in the colonies. (Or at least since the South lost the Civil War.)
But we must remember that inequality causes many problems, for example:
https://www.youtube.com/watch?v=A4UMyTnlaMY&list=WL&index=4&t=0s
Growing the pie is a lie, it never trickles down.
How does the pie get smaller? If u don’t know u shouldn’t claim to know how economies work? Do u know ? Its simple if u actually understand economics.