Bill O'Reilly On Income Inequality
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"Hey, who says America is in decline? The U.S. is still more awesome than the rest of the world at making at least one thing. And that thing is income inequality. A new paper by economists Facundo Alvaredo, Anthony B. Atkinson, Thomas Piketty, and Emmanuel Saez lays out just how much better at making inequality the U.S. is than everybody else and tries to explain how it got that way. Since the 1970s, the top 1 percent of earners in the U.S. has roughly doubled its share of the total American income pie to nearly 20 percent from about 10 percent, according to the paper. This gain is easily the biggest among other developed countries, the researchers note. You can see this in the chart below, taken from the paper, which maps the income gains of the top 1 percent in several countries against the massive tax breaks most of them have gotten in the past several decades."* The Young Turks host Cenk Uygur breaks it down. *Read more here from Mark Gongloff / The Huffington Post: http://www.huffingtonpost.com/2013/08/15/income-inequality-wall-street_n_3762422.html Download audio and video of the full two hour show on-demand + the members-only post game show by becoming a member at http://www.tytnetwork.com/member-options/. Your membership supports the day to day operations and is vital for our continued success and growth. Join The Young Turks Network mailing list http://www.tytnetwork.com/member-options/register-subscriber/ or Support The Young Turks by Subscribing http://www.youtube.com/user/theyoungturks Like Us on Facebook: http://www.facebook.com/TheYoungTurks Follow Us on Twitter: http://www.twitter.com/TheYoungTurks Support TYT for FREE by doing your Amazon shopping through this link (bookmark it!) http://www.amazon.com/?tag=theyoungturks-20 Buy TYT Merch: http://theyoungturks.spreadshirt.com/
Comments
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Your to stupid to realise , less taxes and regulations will grow the middle glass and upperclass
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You knucklehead! Of course more people think that government is favouring the rich, people generally think that government is against them and more people are poor.
Oh, and if you increase the minimal wage, you would really decrease the number of the working poor. They would become the unemployed poor, and Mexicans would get hired illegally. -
Are these min wage earners buying 50 k cars why the poor
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I am Libertarian, but raising the minimum wage will only raise unemployment, especially now that technology can replace low skilled jobs. If you work in minimum wage jobs, learn a skill. I made $6.5 an hour 20 years ago, but I went to school after work and learned how to program and now I make $55.
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My biggest problem with free market capitalism, is that only certain professions pay a living wage, mainly in finance and health care. It is causing people who should be scientists to go to Goldman Sachs or JP Morgan instead, which hurts everybody.
Honestly, if someone has a job that is important enough to society (no I'm not talking barista at Starbucks or fast food worker), like a construction worker, or electrician, or a truck driver (like myself), or yes a scientist, these people should be paid enough for a decent quality of life, but in all but flyover country, people with necessary professions are getting the shaft, in favor of hedge fund managers and stock brokers -
It's so sad when you know that Bill O'Reilly grew up with FDR's policy and that is why he is were he is today.
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Liberal propaganda
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CHENK FOR CONGRESS
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Bill get your big fat head out of that big fat ass, the system is rigged are you that dense
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Charles krauthers talks like his lips are sewn togethers
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according to the Social Security Administration:
73% of all wage earners in the U.S. earned less than $50,000 a year (so this is not what most Americans earn)
66% took home less than the "average wage" of $42,498 a year.
59% earned less than $30,000 and $35,000 a year.
But 40% earned less than $20,000 a year—almost 61 million people. This sucks big time. Even the new federal minimum wage of $10.10 an hour for workers under government contract is only $21,008 a year before taxes (and that's only if they work 40 hours a week every week).
166 people reported earning over $50 million a year (and many probably paid their employees the federal minimum wage of $7.25 an hour and complained that even that was too much—and that these "takers" should be taxed more, putting more "skin in the game"—because for many of these multi-billionaires, it is just a game to them (such as, who holds a title on the Forbes Fortune 400 list; who has the biggest yacht, or who has the biggest beachfront mansion. -
TYT are idiots. This fat slob is so annoying.
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We want more income inequality, not less.
The only thing wrong with income inequality is that the huge engine of prosperity it creates attracts too many immigrants fleeing countries WITH income equality. -
"No, no, no. You see, CEOS HAVE to make that much money. Because what they do is so important."
"No, no, no. You see, teachers HAVE to be paid dirt. Because what they do is so important."
Where does income inequality come from? Unions. Such a gop answer. "Income inequality is caused by the systems created to protect the poor." Tell me another one, Barney.
I'm not even saying unions can't be corrupt. They totally can. They're fantastically vulnerable to corruption.
But a "union stranglehold" isn't what keeps teacher salary down. And it's sure as shit not what keeps McDonald's workers poor. The correlation goes the other way on that one. -
a few things in life I can't stand. whiney dumbacrat liberals, yellow journalism like the young Turks and liver.
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Inequality is a joke. These guys are so focussed on reducing inequality that they'd be willing to reduce the earnings of the poor in order to bring down the rich and the inequality gross number. How misguided can you get!
I was in China a few weeks back and and had a conversation with my brother's new mother-in-law about the US. She said she wanted to come America because it was the only country in the world where the poor people are fat. That was great!!!! One only needs to spend a few minutes at Walmart to see the people that weigh 300lbs+ with shopping carts full of flat screen TVs to know she's right. Way to go mommy Ma!! -
Don't buy into the Con!
A free market isn't free!
Regulate the Bear to make the Market Fair!
It is time Wallstreet loses its government flankman, or extends the same protections to all citizens equally. It is no longer acceptable that only the elite ride the Bull for 8 seconds at every rodeo. -
Charles krauthammer will forever haunt my nightmares. That mug is frightening as hell, and I hope there is a resistance to its evil....
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The reason why we have this wealth inequality is due to government and their lack of sound economics. I do not come from a wealthy family and my parents are divorced, but my mom is a registered nurse and my dad makes about 70k a year so i'm not poor. The reason why the are doing so well is because of a lack of government involvement. My mom went to college in the late 80s/early 90s and could only afford to go because our government didn't guarantee loans. She could get a job to support herself because she was only getting 3.50 an hour. If the minimum wage had been 18 dollars there is no way that she would have gotten a job. She didn't get sucked into the housing bubble because unlike most people they would not have approved her if she had been a "sub prime" borrower. She had to build solid credit and got a house at around 28 years after working since she was 14ish. She indirectly was successful due to capitalism. If you want to go back even further my grandmother didn't even finish high school yet got a good manufacturing job. She was far from rich, but was able to work and support five children on her own due to the minimum wage being lower. At 18 dollars she would've never been hired. All of you people asking for more government aren't seeing the full picture. The government involved in economics creates a lot of evils and there is always an unintended consequence to government involvement. There is no way that they should set the minimum wage. A free market sets the minimum wage and always sorts itself out. In 1968 my grandmother said the minimum wage was around 2 dollars an hour but people could live and were not in poverty due to this. Inflation that the government has created is why we have these issues. Deflation actually occurs in a healthy economy. Deflation is not always due to a lack of buying goods, we had deflation in this country for about 150 years and became the richest country in the world due to this. Deflation can mean that the value of your dollar is actually worth something. Inflation can cause the value of your dollar to mean nothing. The only thing that you people should be asking the government to do is stay out of politics. Republicans AND Democrats should let the market sort itself out. I'm also amazed that this guy actually thinks that people paid more taxes. There were higher tax rates, but no one actually paid a 90% tax rate due to all of the loopholes in the 1950's yet we were still wealthy. Due to those loopholes not existing most of the wealthy still lose 50 percent in taxes which is something that is staggering. Bill Gates is not the norm in the 1%. He is in the 1% of the 1% which is something that completely flies over everyone's head. Pick up an economics book/ a history book instead of simply believing this guys well intentioned but suspect facts. What this guy indirectly is asking for is wealth re distribution. That does not work in an economy. Many have tried it before. Look at Spain and Greece lol. Yes for a few years after they turned to the Euro the government was everyone's best friend in those countries, but if you notice they aren't doing so hot now. You can't maintain socialism. What we have no is not capatilism which is why we are in this mess. We have crony capitalism. That's what doesn't work along with socialism. Young people need to wake up to this. I'm only 23 and am investing in gold because our government is completely collapsing our dollar. Wake up.
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Bill I am a lifelong conservative, but we have reached a melting point, the deck has been stacked against us for far too long. I was born into a poor family, I never had the chances for some fancy university but I have worked hard my whole life, I had a good trade that technology effectively phased out, there should be no reason people like me should fall through the cracks and spend the rest of our lives scraping the floor for breadcrumbs. No more excuses about unfair trade deals, they don't put food in the fridge so don't get your feelings hurt when Americans in my position decide to vote for someone who says they can do something about it rather then a Republican who keeps making it out like we are just to lazy/dumb to learn anything. Oh and before any of you go on your rant about "free market economy" just remember that what we live in is nowhere near free market if it was I could start a business as a plumber simply because I know how to do the job, "free market" should not require years of working as a minimum wage apprentice just so I can apply to take the test, nothing free about that.
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