Something Has Changed in the U.S. Economy
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- Опубліковано 21 тра 2024
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Being taxed even when living and working abroad is a pretty strong incentive not to leave.
* to leave
Nah, just drop the crap citizenship and you don't have to pay a penny to usa
the weather however.... which is why half leave :)
You don't have to pay taxes, you have to disclose it to IRS.
Foreign income of up to $120,000 is tax free
What weather? We have every option available @@PazLeBon
Lobby is legalize corruption.
Very much so!
Just call it "vote buying" or bribery.
Absolutely!
Lobby is part of democracy. Lobby organizations like the WWF are important
Lobbying as a general concept is fine. Lobbying as it happens in the US, where it's mostly just bribery, is definitely not fine.
They really tax the middle class into barely getting by.. they don’t bother their donors. The dream died
,they were never middle class,just wealthier working class , that class thing doesnt even really workwithout monarchy anyway
Not exactly true. The richest still pay the most in taxes.
The real issue is that Corporations have the mindset of pleasing investors ONLY, and securing a good environment & providing for its employees is secondary (at best).
@@jeffkadlec8264 most is obviously relative and means absolutley nothing without that relaivity, infact its core to the issues because government prefers less massive corps than thousands of small businesses and in the end pay less taxes than they would if it was more diverse because they have the governments by the balls rather than the other way around
@@jeffkadlec8264corporations have to protect themselves from cannibal politicians.
Too an extent... That depends. If you payed 40% taxes and most other people did as well. That would mean most people had ca 60% dollar value buying power. When prices are more based around what people are willing to pay (ref price elasticity) this means that if people payed 0% tax they and everyone else would have 40% more and in turn prices would rise to reflect that because more people would be willing to pay more. So the coffee would be a buck more, car 10k more, house 200k more etc. The point is, you wouldnt necessarily have more buying power if you payed less taxes.
HOWEVER, with the use of a fiat currency, which USA has had since it correctly went off the gold standard, which was holding the economy back. The fiat currency has a built in inflation level at ca 2% to prevent money hording (ref deflation). The problem with this is that it also needs workers to have leverage. An example of worker leverage is Unions. You need leverage to get a good deal, so when you have none. You lose the wage debate and your employer in practically raises prices, but keeps your wage the same and instead just pockets the difference while you get poorer even if your wage in number is the same.
You want to find the American dream? Look to nations with high level of Unionization in the West. All the stats backs it up because you need worker leverage to compensate for fiat currency built in inflation. If you have not gotten it by now. USA workers lack leverage. :)
Socialism for the corporations, capitalism for the individuals
Excellent argument to cut government by 90% or more👍
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.
Political donations means whoever has the most money shapes the law
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.
You are right, but libertarians don't understand that.
@@thepagecollective Statements like this demonstrate how unfaithful and illiterate modern day political commentators are. You cannot have a Capitalist system without full control over one's purchasing power. No country around the world allows this.
@@24killsequalMOAB The US before 1913 was not capitalist then?
@@afreire239 shades of Capitalism have been attempted all throught history, but no. There have been virtually zero instances where actual full privatization of money has taken place.
@@24killsequalMOAB Governments have a role but that doesn't mean corruption should be tolerated
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
Actually, it made some steps back since Roosevelt in this regard.
Agreed, however democrats have absolutely no clue how to implement a sustainable social democracy.
Just taxing people and giving it to others is not only unsustainable but breeds resentment between lower and upper classes.
Libya before Obama blew it to smithereens had free electricity, free education, free health care, cheap prices, 1% interest on loans and one of the highest standard of living in the world at the time.
This is all because the fundamentals of the economy were strong, unfortunately most democrats aren't competent enough to create such a system so resort to excessive taxation.
Most social democracies were dismantled into social - liberal countries
US: Pay taxes even on money you make abroad
The Rich: Trust me bro
Finally, our socialism_communism economic system is working 💪 full time to change America 🇺🇸 from the inside out... glory to UBI aka universal basic income platform roll out..
IRS: don't test me
We got RICO, we got FATCA, we got global financial organizations fully compliant. You even think about it and...
@@peaceleader7315this is a joke right ?.
@anthonyyawtwumasimensah197 if I drive from Canada 🇨🇦 close my eyes cross the border to United States 🇺🇸 and open up my eyes again.. hmmmm..
I can see a stark contrast between the two nations.. hmmmm..
I guess the gaps between the rich and the poor is too wide in America 🇺🇸..
Eventually it will be like that of India 🇮🇳 in due course.. hmmmm..
and the universal basic income is the only way to close the gap between the rich and the poor..
@@peaceleader7315 if your leaders have told you that the only way they can close the gap between the poor and rich is a UBI, they're incompetentand have absolutely no clue how to implement a sustainable social democracy or run an economy.
Just taxing people and giving it to others is not only unsustainable but breeds resentment between lower and upper classes.
Libya before Obama blew it to smithereens had free electricity, free education, free health care, cheap prices, 1% interest on loans and one of the highest standard of living in the world at the time.
This is all because the fundamentals of the economy were strong, unfortunately most democrats aren't competent enough to create such a system so resort to excessive taxation.
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.
Add to that public transport which is literally nonexistent in North America as opposed to many places in the world and not only Europe by the way. Many Europeans opt out of owning a car altogether, wiping out depreciation, running cost, insurance etc.
How about higher education, in America it's a business not a public right with rediculus fees that keep students indebted for years to come.
60% of americans use government subsidized healthcare. Stop lying on the internet please.
@@salahelackad2005 You can't even spell so I shouldn't take what you say seriously, but forcing education to be competitive increases service quality for students and posts better results. See the top 10 universities in the world with 9 of them being American including the top 4.
@@Robert-hy3vv Really? I can't spell, because I typed "ridiculous" without an "o" what an argument! Let me ask you something: "How many languages do you speak ?" Are you a native English speaker? Well I am not and I speak 3 languages fluently and understand 2 others. So next time you comment on something that you feel you don't agree with, do it objectively. Secondly, where did you get this argument from?! We're not discussing ranking here, we're talking accessibility or rather affordability of higher education to everyone. Go do some research and compare tuition of universities in the US with their peers in Europe. To take what I said seriously or not is your problem, this is public knowledge. I do not know you and I don't really care about your opinion altogether, but I just wanted to wake you up. So next time you speak you do it decently; rather politely!
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.
lo visual politic editorial shift to the right is interesting maybe an example of polarisation view chasing! 🤔
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.
Roth IRA accounts....yes....the secret investment instrument of choice for the super wealthy.
If you have money, you can hire more and more specialists in finding loop holes. And the US has tons of such holes.
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.
If you watched the first part of the video, it says that the US was initially a free-market economy (with very low tariffs). Britain followed the US's lead, and soon after, so did the rest of western Europe. The expansion of government occurred only recently. Recent examples of free markets arising from poverty include the Cayman Islands, Singapore, and Hong kong, all of which had freer markets when they were poor than they do now. China only has much of the attention is because it is a large country. The three regions I mentioned grew much faster than China, and are already highly developed.
That's right and "the West" acknowledged this. Now they want China to stop pretending to be a developing nation but rather adhere to rules that match China's economic weight.
To be fair China never reciprocates the market access that it got granted and there are some dubious subsidies practices
It didn't catch up when some ppl are making out like bandits in the west as well until we got to a point where it's getting more intorlerable
@@Otto-cz6by the problem is those economys ( Cayman Islands, Singapore, and Hong kong) have and had heavy restrictions on individual freedoms and rights
@@JimBob544 Yeah it's a funny thing about HK especially, where people think it was a democracy before China took it over. Not even close. It was run by a colonial administrator, and over time developed into kinda a corporatocracy (as in formally, not just as an insult - a handful of major corporations were involved in the administration). There were signs it was heading to being an actual democracy, albeit with heavy corporate involvement, but what people miss is that those steps were taken by the LAST colonial administrator - when it was known it was going to be handed back soon. They were effectively a parting gift from the British to Beijing for not agreeing to let them extend their rule there. Asianometry did a very good vid on its history.
Capitalism is a style of economics. It is not a government.
Government is supposed to uphold this style, if it's a capitalist government.
China has a semi-capitalist economy, but the government is firmly in control of that capitalism and reigns it in when they feel it's going too far. The US is the other way around, capitalism rules the government, so I feel it's fair to call it a system of government here.
Capitalism is a political system. Not just an economic model.
@@ANeurodivergentGuy you are categorically wrong sir. Although a common conflation, capitalism can be policy pushed by a government, but it is not the government itself.
Democratic capitalism however WOULD be a government AND economic model.
@@ThatGuyPotatoes Democratic capitalism?
That doesn't exist. You either own private property or you work for someone who does. You work or you starve/die.
I didn't capitalist political system means government.
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?
That's because any economic analysis not derived from the Austrian perspective is fraudulent and a sham
Having lived in Mainland China, I can see why so many want to escape to America. It may be lucrative for corporations, but it’s a horrible place to be a human, especially outside of Party connections.
Ironically the effective tax burden is about the same in both countries too. It’s all about where those revenues are getting spent.
@@doujinflip If I'm being honest, I think what the Chinese call communism is better described as a grotesque parody of capitalism. All the corruption of a state directed economy, the profiteering of a market based one, and just enough policy directed regulation to make sure that the worst of both worlds stays right where it is.
To the chart about wealth redistribution, there's a case to be made about how much wealth individuals attain and thereby how much wealth needs to be distributed and also if taxes going to education and healthcare factor in as wealth redistribution? If a country has a strong base of individuals (what I would call the Middle Class) then the need for redistribution is smaller!
The wealth redistribution figure is indeed because of education and healthcare, but not cos it does much good but rather cos of how inefficient it all is. The US outspends every OECD country on healthcare, yet does worse on most health metrics than them all. Their 'socialised healthcare' is both more effective AND less expensive than the US'.
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.
Capitalism or not depends on regulations and government spending. Both US and China have big government spending. But in some ways China has less regulations than the US.
The level of taxation is hardly representative of a capitalist country. You can have a socialist country that has low taxes or a capitalist country with high taxes.
Capitalism means you have privately owned capital ("those durable produced goods that are in turn used as productive inputs for further production" of goods and services. A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a given year").
Socialism implies that the certain capital (the means of production) are owned by society (usually through the govt).
Legal security has nothing to do with the economic system. You can have capitalist countries with lawless gangs, corrupt judges who accept bribes, and crime through the ceiling.
Capitalism has nothing to do with democracy. Capitalist countries can be as authoritarian dictatorship as it's communist counterpart (eg south korea prior to late 80s).
When i am talking about capitalism i usually mean free markets
Shhh. Nobody tell this guy that the US govt back in the old free market days heavily favored some companies over others by high tariffs that almost completely funded the federal govt.🤫🤫🤫🤪
"From 1790 to 1860, average tariffs increased from 20 percent to 60 percent before declining again to 20 percent. From 1861 to 1933, which Irwin characterizes as the "restriction period", the average tariffs increased to 50 percent and remained at that level for several decades. From 1934 onwards, which Irwin characterizes as the "reciprocity period", the average tariff declined substantially until it leveled off at 5 percent."
1790 tariffs
95% of fed budget
15% rate
$4.4 million collected ($131 million in 2022)
1830 tariffs
88% of fed budget
35% rate
$22 million collected ($712 million in 2022)
Kept around 80%-90% for much of the 18th and 19th centuries.
@@Kaede-Sasaki I am in favor of tariffs. Free market is only for citizens and domestic companies that operate under the same government and set of laws. Free market does not make sense between different governments since regulations are different and companies would not be on the same playing field.
Now this is some real black and yellow bow tie stuff.
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.
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.
The laws need to be applied equally. The problem is in 1913 when the federal reserve bank was founded the bankers could print money and get richer at the expense of working people. So in fact since 1913 the laws are not applied equally. Bankers can commit fraud and not suffer any consequences. They print money to buy politicians to give their friends.
Anyone have different data:
Mississippi paid the least amount in Federal Tax against what they received. That was astonishing to me. That even the lowest Federally taxed state still paid 1.1$ for every 1$ they received back in return.
Very informative
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.
It's a little difficult to be free when the government confiscates a third to over half of your income.
Tax means less money goes to markets as income is sequestered by government
Bullshit, European countries are famously protectionist of their own countries.
The most shielded income is corporate though. But politicians are scared to simplify those arcane deductions and pursue those funds that is best spent supporting us all.
Severely restricts freedom when the state confiscates a third to over half of your income.
From 2000 to 2024, $5.5T were spent in corporate stock buybacks. That money was not taxed for most of the time.
It was taxed. It just wasn't double taxed as dividend payment. Some people are so greedy, stop trying to tax everyone into poverty.
The new 1 percent excise tax on stock buybacks, enacted in the Inflation Reduction Act of 2022, is scheduled to take effect January 1, and taxpayers are still waiting for guidance.
Buybacks were not taxed until Jan 1st 2023. What are you talking about? If reinvested into creating good 🇺🇸 jobs, we would have a better economic outlook. Wealthy individuals are not taxed to death. USA is ranked 44th in taxation. Stop lying 🤥
Stock buybacks were not taxed ( 1%) until Jan 1st 2023
@@GeorgeSchneider8889 Ok, but the corporate income (retained earnings) is. Taxing dividends or stock buybacks is double taxation.
Again, stop trying to tax everybody into poverty. I can't believe people are still advocating for economic policies that literally ruined entire economies just about every time they were tried.
@@johnmonrow9981 92% of the stock market is owned by the top 10%. If you are in this comments section, you are not part of the 10%. What is your issue with taxing capital gains?
C'mon, lobbyists don't "donate" to politicians because they just like the guy...their employers want an ROI 😅
Shame, I'd love to live in a free country.
for that you must do a lot of research, make big sacrifices, take tough decisions, be persistent and brave, and move
Shhh. Nobody tell this guy that the US govt back in the old free market days heavily favored some companies over others by high tariffs that almost completely funded the federal govt.🤫🤫🤫🤪
9:05 This graph shows the CHANGE in income of the poorest half of the population AFTER they've received financial aid from the government, so some of the countries on the RHS, with the largest bars, also have the most income inequality, which is why these transfers are required.
By contrast, a country like Switzerland has low income inequality, so there is no need to redistribute income, so the resulting change after redistribution is small.
I think the graph on 9:22 about the redistribution of wealth does not account for things like a minimum wage. That already redistributes quite some wealth, despite not beeing transferred via Government funds.
$5 hour is slave wage
@@chasx7062slave wage is an oxymoron
@@chasx7062no where in the US do we have a 5$ minimum wage
7.25 an hour is redistribution???
An oligarchy never moves left
Then what are all those leftist companies about?
so russia is right wing? hmmmm
Umm. Have you been asleep for the last 20 years?
As an American, yeah, but we need some trust-busting like a hundred twenty years ago.
The current business environment is the result of bigger government and their trust-busting delusions. Less government is the fix, per usual
And he is corporate legendary.
Can you guys make a video on the economy of Jordan?
they’re brits. they can’t do anything unless america gives them permission 😢
@@willonomThey're a Spanish channel actually. The presenter is just reading an English translation of content originally developed for a Spanish audience.
It's complicated... If you look at the graphic at the begging it is impossible to think about the famine at the beginning of the XXth century.
What's the alternative?
FDR really screwed it all up..
How?
Interesting 🤔
Australia also taxes its citizen on their global income and assets....
Nothing is more capitalistic than the lobbying industry. You want laws, you pay for them.
Feels so. I am disenchanted myself
Such a corrupt system. Fucking Mafia
They are only capitalist with their poor workers 😂😂
China is also trying to tax its overseas citizens like the US does.
That'll be a great incentive for Chinese rich people to get a different citizenship.
@@danilolabbate Which is exactly what they are doing!
Redistribution of wealth to corporations
Will be calling each other Comrade in future
Comrade capital
Very true 👍
Linearized Growth on the Inclination.
As an American and a history lover if you tax the people especially Americans the big T happens and if you tax industries well nothing much
What’s the big T
I’ve heard of FDR right?
the american dream is to get out of the country
but then you d still have to pay tax :)
Those statistics don't say what you think it says.
America's biggest mistake was,that it didn't evolve from capitalistic society to socialistic society.Especially when they haved that epic historical opportunity,to make things wright and better then in 1890.Instede american government has choose to devolved america back to nepotistic feudalism,where few greedy and rich billionares,can reform america to its likening.
You seriously compare the tax rates of the forth-largest country on earth with those of Hong Kong and Singapore?? Joking, right?
It's already fu*ked up :(
Graph line;also follows technological progress. Coincidence?
*Cries in Ron Paul*
$7.3 trillion!?!?
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
It isn't, on average. You could call some states capitalist still, for sure. New Hampshire, Florida, Idaho and so on, but those are not the rule
The US has been left for at least 30 years, so it's not moving left, it might be.
More aggressive left
USA needs more Austrian and Chicago school Economics!
I agree, Austrian economics and Chicago economics (my personal choice) will lead to a better ran society.
In fact the only reason why people argue over social responsibility and welfare is because the country isn't ran well and the government can't afford it.
If the government was small and efficient we either wouldn't need welfare and social programmes or easily pay for it.
I pay zero tax in my home country, in fact the government pay me to live there.
Which country is that?
Are you on the Indian reservation?
Of course we are moving left, even Warren Buffet says we are not taxing the rich enough. 🤷♀️. Wealth inequality is at an all time high.
As a Socialist , when he called Biden a Leftist I couldn't stop myself from rolling all over the bed in laughter
I know right? The same way I'd fall off laughing when somebody would call Donald Trump, a rightist 💀
🤣🤣🤣 Of course biden is a rightist and trump a leftist. It all a psy-op that they keep on playing with the people.
The US moving LEFT 😂😂😂
No... The US is giving money for the RICHEST People and Companies/Loobies, more than ever.
The average people are poorer and poorer AF. 😒
Yeah, this is what happens when you allow the government to determine control over the money. Not private whatsoever
You can thank the US government for that.
The USA has lower poverty rates then most of Europe at 11.5% which is much lower than UK and Germany for example. So how is that Poor AF? that makes no sense. It would be nice if you have some data to show other than just say poor AF.
The empire is dying, western hegemony is coming to an end, greed gets you nowhere 🍻
But it’s the best system humanity has ever come up with. It has created the most peaceful era in human history, pulled billions out of poverty, and has created a union of nations to prevent world destruction, also it tries to put limits to the destruction of the planet. I know it’s not perfect but I would much prefer the current system than any of the alternatives. Unless there is a better alternative then I can’t really support anything else or what do you think China is gonna create a better system or Russia or Iran or even North Korea.
@@Sora_Naitrue. Any revolutionary fervour will be hijacked asap
US can learn how to do that.👍
The short answer: NO
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Shhh. Nobody tell this guy that the US govt back in the old free market days heavily favored some companies over others by high tariffs that almost completely funded the federal govt.🤫🤫🤫🤪
"From 1790 to 1860, average tariffs increased from 20 percent to 60 percent before declining again to 20 percent. From 1861 to 1933, which Irwin characterizes as the "restriction period", the average tariffs increased to 50 percent and remained at that level for several decades. From 1934 onwards, which Irwin characterizes as the "reciprocity period", the average tariff declined substantially until it leveled off at 5 percent."
1790 tariffs
95% of fed budget
15% rate
$4.4 million collected ($131 million in 2022)
1830 tariffs
88% of fed budget
35% rate
$22 million collected ($712 million in 2022)
Kept around 80%-90% for much of the 18th and 19th centuries.
by your definition the US wasn't a capitalist nation at the beginning as it was originally a salve state and it didn't enforce legal security and equality it all it's people.
to fit in to your definition of capitalism one of two things have to be true 1.The US was nether a free-market capitalist nation or 2. your definition of capitalism is wrong.
This is what I do not like with dogma right wing economics. Basically, "I like capitalism. I do not like taxes. Therefor capitalism is against taxes."
In my view capitalism has very little to do with taxes. A nation is not more or less capitalistic based on their taxation level. However one of the key tasks of taxation is not to pay federal
ational bills. The federal government does not need taxes to pay the bill. Here is a hint, they print the money. Would you need taxes if you were allowed to print US dollars? Obviously not (inflation happens if you print too much or if the excess printed money is used domestically. USA printed 2 trillion extra for the war in Afghanistan without affecting milk and bread in USA), no, the main task of taxation is to slow down or prevent too much wealth inequality which can reduce the middle class and demand factors etc (local government, aka none money printing gov, however need taxes to fix potholes etc, just not the national gov).
Capitalism is supply and demand based economy.
Having ultra high income tax or a progressive taxation system or no taxes is irrelevant.
Any fiat system is not Capitalist.
Taxes exist for government spending. Can a country be capitalist if half or more of the economy is government spending.
Uhhh no?
This channel publishes increasingly content, that can be considered libertarian propaganda.
What did it endorse?
He sure is trying, and he's increased poverty at a shocking pace. He's spending more, and adding more debt than we can possibly afford or hope to payoff.
No money
i 😂😂😂😂 When US is compared with the Eritrea thats the facts. mainstream propaganda won't tell you USA & Eritrea are dictatorial states. this guy isnt bias he is telling the hidden faces of america 😂😂😂
I don't see how any of this is not capitalist. Private companies own 100% of the means of production. It is actually a huge problem. Being less capalist would give the government integrated abilities instead of having to do every ask through bidding aka you want to make a healthcare website? You dont spend billions on private companies, you give it to your internal team and its done
Money is not speech
We haven't had real free market Capitalism since 1913. We live in a mixed economy. Some freedom with a heavy hand of the State.
Some parts are kinda clownish
When he called Joe Biden a leftist I started laughing
He is.
@@dontaskmewhy266 lol
@@dontaskmewhy266you dont know what left is
In today's America, he is. When he entered Congress, he would have been viewed as center-right.
@@paulmurray8922 yes, joe is "american-left."
11:25 china has a social saftey net, but its not a welfare state, and where you live more or less determines what benefits you get. It is highly interventionist though.
The level of taxation is hardly representative of a capitalist country. You can have a socialist country that has low taxes or a capitalist country with high taxes.
Capitalism means you have privately owned capital ("those durable produced goods that are in turn used as productive inputs for further production" of goods and services. A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a given year").
Socialism implies that the certain capital (the means of production) are owned by society (usually through the govt).
Legal security has nothing to do with the economic system. You can have capitalist countries with lawless gangs, corrupt judges who accept bribes, and crime through the ceiling.
Capitalism has nothing to do with democracy. Capitalist countries can be as authoritarian dictatorship as it's communist counterpart (eg south korea prior to late 80s).
Whey does Every UA-cam, News, Media, etc etc etc... when viewing the Tax Rates between USA and EU rates - for example.
The EU will be the TOTAL: National, Local, Urban etc taxation.
The USA ... you and everyone else ONLY refer to / List the USA Federal Income Tax RATES!
The Yanks pay Federal income tax, State Income tax, Local Taxations... making the actual top rate in the states to be in the 2/3rds Range!
We pay far LESS overall tax in EU and we have Far MORE disposable income in the EU.
We always hear from people like Aaron Clarey on how great the Greatest Generation are, yet they voted for FDR. They had their inner AOC millennials.
Clarey is unfortunately wrong or in denial about everything. Keep saying build more roads so there's less traffic, when in fact, the opposite is the case.
Fdr was more for workers rights, right to unionize, and the freedom from want. This "left" is more concerned about identity and expression, while giving lipservice to pay increases.
Go look at videos from second thought to see how an actual socialist (you know, the lefties) see America. It isn't moving to the left at all. The system is stuck in the ratchet effect
"America is socialist for the rich, rugged individualist for everyone else."
- MLK
the American dream is actually very accurate.. you have to me sleep whilst stupid..
Many people have realized this years ago. Most of us DONT WANT THIS.
Very good video. Even handed. Definitely since 2008, the US has been reacting to Chinese spending. Should mention that. But very good.
I believe capitalism to many Americans is equated with an oligarchal stranglehold on the wealth of the nation as a whole. An obvious contradiction existent to America is our admiration of billionaires to aquire their vast riches, honestly or otherwise, yet we vehemently hate their elitist efforts to pay taxes at a 'percentage far below that compared to their income' is perceived as criminal obviscation. America's wealthy can anticipate legislation forcing a more equitable taxation reality, if Mr. Biden is reelected.
If left means pro Hamas, then yes
WhTaboit 4th amendments?
Also a narrative based upon 🤣
Raise the tax on the rich
I think using Capitalism and Socialism and Communism is too simplistic.
I think a better way to classify countries economies are into;
1. Marxist economies
2. Keynesian economies
3. Classical economies
4. Monetarist economies
5. "Austrian" economies
This better can account for the economic changes in erica without straight up calling them social democrat or socialist.
And soon, MMT economics
if anything, moving to the right. In general you cannot comprehend left vs right. In fact, the disappearing middle class is the very proof of that
Large corporations don't pay much tax at all in America.
There are no capitalist countries
depends on how you define it, some also say there are no communist or socialist countries. it all subjective at the end of the day .
I suppose that also means no communist countries either.
So do these terms really mean anything?
@@JimBob544 All countries are complicit in the globalist socialist scam at this point.
There was before 1913
@@afreire239 could you give me an example
There are plenty of governments with extremely low taxes. But they are also low income countries. By lowest % government spending as a percent of GDP:
Syria, Somolia, Turkmenistan, Haiti, Venzeula, Sudan, Iran, Equatorial Guina, Bangladesh, Ethiopia, Yemen, Guina, Nigeria, Guatemala, etc. Hopefully you get the point.
Personally, I prefer the company of Belgium, Finland, Germany, Australia, Israel, etc
Why not a country with lots of Europeans but also low taxes
No, hell no. Just because they give more monry, the cost of service is way higher. Percentage is everything related to the cost of living/service. So American help to poor people is rather low. Misinformation 👈
Who would deny it ??? Really!!! I'm no fan of Trump, but every day society is getting more and more feminine 😮