"There should be no billionaires, it's insane and absurd" says Bernie Sanders | The News Agents
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- Опубліковано 20 сер 2024
- Bernie Sanders argues society cannot afford to have a few people owning a massive proportion of wealth.
#news #money #economy #NewsAgents #EmilyMaitlis #JonSopel #LewisGoodall
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3 people own as much wealth as 166,643,778 people in American society alone. Let alone all the millions and millions of even less well off people around the world. It's unjustifiable.
I didn't know Americans were so poor. Dividing the wealth of Buzos, Musk and Gates (476,000,000,000) by 166.000,000 means that half of Americans are worth less than 3 thousand dollars.
Wouldn't be so bad if the money was spent on philanthropic or environmental projects but instead they send themselves on sightseeing trips into space.
May be true but the last place any more money needs to go is to the federal government.
A million seconds pass in 11 days (approximately). A billion seconds? 33 years. Some perspective.
There are ways of redistributing the money in the system other than just through direct taxes on wealth. Isn't it about morality? If a company owner is a billionaire then clearly they are not paying their staff a fair and proportionate wage for the services they provide in making the company (and therefore the owner) successful and wealthy...... Increase wages, distribute profits fairly. The whole workforce,and society as a whole, benefits in the long term.
"But where do you draw the line?" is such a pathetic, mind-numbing question, and demonstrates that the UK media is entirely staffed by, and represents the bourgeoisie. Millions have not the basic fundaments of existing on any comfortable level, but they absolutely have to know how much money someone is allowed to hoard before they have to contribute back to the state that protects them and allows them to accumulate said wealth
Tbf It IS a fair question and one that needs to be answered. I personally think 200million £/$ is enough for anyone, but earnings is not the only issue, the fact that the super wealthy borrow money to buy things is insane. However when they are paying less interest on loans than they do for money in their accounts they are not going to do anything else so all their money is effectively gone from our economies. The entire system is geared to protect these people and we need systemic change worldwide.
@@paulcrawford5437 Fair points.
No billionaires at all in our lives
I don't think Jon Sopel still gets it...
Oh he gets it he lived as a US BBC correspondent for years so he’s well versed in American ideology. Stuff and the money you need to buy it.
Saying nobody needs to be a billionaire doesn’t mean they are saying capitalism doesn’t work, the idea is that we live in a democracy and we can regulate capitalism to be fairer for everyone.
No more billionaires and no one's life at all No more billion dollars No billion in any state
Agreed. Ban billionaires. It’s not such a radical idea. And it’s actually MORE in line with capitalism, than the current state of affairs is. After all, it’s no different from saying that no unelected individual should have more power than those who have been chosen to represent the interests of the people by the majority? It’s no different from banning the buying of politics, rather than earning public trust? The world’s biggest problems are ALL currently caused by the world’s richest individuals.
You gotta pay to play. End of. Tax the rich to the hilt so we can all achieve our best possible outcomes✊️
He has got a point.
They earned bernie.
The disparity leads to wars. Wars means that these people potentially lose their lives. It just shows that even billionaires are most often morons in some sense. Their addiction to greed and power blocks clarity thinking.
Bean counters know that while potential may be infinite, annual economic activity is limited. If some few take way too many beans, many will not have enough.
Fair and equitable taxation would enable those making the most from our society to pay the highest percentage in taxes!
Even Warren Buffett believes that capitalism will widen the gap between those with market skills and others, unless the government intervenes with policies such as the Earned Income Tax Credit. He argues that the extreme rewards in certain fields are due to the market system, and that people with peculiar talents now have the potential to earn millions. However, the system should not leave people behind, and policies should be put in place to ensure that anyone working 40 hours a week and with a couple of kids can have a decent life. Buffett suggests increasing the Earned Income Tax Credit instead of the minimum wage, and while higher taxes on wealthy people may be required, he believes it can be done in a way that directly benefits the lower income earners. Ultimately, the country has the resources to ensure that nobody is left behind in a society where the market system produces incredible benefits for everybody.
Yes, but Buffett has not called for a maximum income let alone the banning of billionaires, unless I am very much mistaken?
@@Samgurney88 No he's not but smart billionaires recognize there is a problem and although I don't agree that banning billionaires is the right way to go I do believe that if a household with at least one person working full time at 35-40hr per week is unable to house, feed and provide medical care for their family then there is something wrong. Right now most of our income is going to pay energy companies which is just wrong. You can't live without energy so this is just another tax on ordinary people. It's putting even more burden on the middle dragging more and more people into poverty.
I could be very happy making 100k a year.
I think it's difficult to understand what Sanders is saying when you only understand politics through a neoliberalist lens
Bernie is right 👏👏👏👏👏
sopel badgering the witness again. Useless. Now if Sanders was a Tory minister would Sopel be as impolite?
So, by what authority does an octogenarian career windbag politician, and multi - millionaire, decide that " others who have more than I do, shouldnt exist ? "
i'm in favour of higher taxes than currently exists on billionaires and I want the tories kicked out here in favour of a more left wing government, but if someone has 10 billon dollars and they have to give up at least 9 billion i genuinely do think most would just move abroad and that would hurt an economy, it goes too far. but I'll be called a neoliberal shill just for saying that
There shouldn't be any in the world! Not just in America! Read my comment above and check out the equation in it! I think it may surprise you!
If your theory is right, there would be no Germany. They tax 43% in the higher bracket. Do you think Germany's economy is hurt? No. They produce more densely, meaning that they produce more per people and per size of country. The thing is Economy doesn't thrive because people can amass money. Economy thrives because more people (middle class) have more spending capability.
These guys threaten to leave over a couple percent increase in taxes it just shows you how much they care about your country. They will squeeze every penny out of you and move on to the next country.
I find Sanders likeable and well-intentioned (unlike 99.9% of GQP), but some positions are just absurd. What is his solution for the "billionaires problem"? Confiscate billionaires' wealth above $1bn? Does he have a sense about how ridiculously impractical that is?
The solution is to tax them. Like Dwight Eisenhower did.
I haven't read his book yet, so I don't know in which context Sanders wrote "There should not be billionaires." However, I understand this sentence more in a "perfect world"-type scenario.
Should there be war, no. Should there be starving people, no. Should there be homelessness, no. Should there be billionaires, no.
I don't believe he thinks this sort of policy could be implemented in the near future, but we should work towards a future where billionaires don't exist anymore.
First, fairly tax capital gains. Does it seem fair that people who actually work a job for wages pay more on *that* income, than someone trading stocks? Second, regulate what businesses can and can't do with profits, and require equitable wages, not some notional invisible hand (which only seems to dictate workers pay). Third, stricter estate and inheritance taxes. Surely these go-getters who made a fortune for themselves wouldn't want to burden their children with the albatross of extreme wealth hindering their own initiative, right? Right?
Not really. Just make them pay more tax. Keep them honest! Lol😅
It's not complicated, we just need a fair tax system to ensure that the people that are not in the top 1% are also able to live with dignity.
Inflation would go up that would increase the cost of living with no billionaires, there’s no such thing as a free lunch.
It always seems strange that we critisize the rich who have earned their money, but applaud those who have the luck to win a lottery.
No one is criticising someone for being rich as long as they pay their share in taxes, which they don't currently. Billionaires amass everything their hearts desire then just sit on the rest of their wealth which takes a huge chunk of money out of circulation, therefore making the poor, poorer and the rich richer!
Who is applauding people for winning lotteries? I'm certainly not! And in any case, no one is winning *billions* in lottery prize money
@@FullerHob The US has already had a $2 billion dollar winner.
@@kiviuq3495 Christ, that's mental
@Kiviuq and that too should be heavily taxed- it isn't complic