"It Should Be Illegal To Be as Wealthy As You!" - HEATED Tax Debate With Sam Seder
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- Опубліковано 22 бер 2023
- In this short clip, Patrick Bet-David, Sam Seder, Adam Sosnick and Vincent Oshana have a heated debate on taxes.
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I never comment negatively on UA-cam, but this guy is... something else.
Yes he is.... He's a very ignorant person!
A goon.
😂😂 you are a lot nicer than me
He's a twit
@@jasonrahimzadeh2342 Shiva disagrees with you
"A socialist will give you the shirt off of some else's back"
Did he propose Socialistic policies?
I heard an argument for taxation as a method to reduce wealth inequality…
A socialist will also send money overseas to help people abroad lol
@@gabrielcornejo253 more taxes on who? The top 1% pay around 40% of the taxes. The top 25% pay around 88.5% and the top 50% pay 99.7%.
You could literally take EVERY dime from the top 1% and still not pay for all of the proposed government spending. So tell me, what do you propose?
@@gabrielcornejo253 What eric said^^^ Also you gotta think about implications, you try and redistribute wealth and then you lose all the innovators and business’s, Then the wealth dramatically decreases…
Ironically, you missed the fact that government structures for large businesses, at least in the US government, are taken from socialism. Taxation benefits, subsidies, and other legislation that promotes business growth have nothing in common with a free market.
And whaddayaknow! It's a regular thing, watching committees of billionaires and powerful people trying to pass off their obligations to the lower classes.
I am a 67 year old single woman who just retired last year after being in the workforce for 51 years. I PAID in to social security for those 51 years. I paid into a 401k for 38 years and lost 1/3 of that in the crash. I have paid into every thing possible to prepare for retirement. I take social security because I paid in to it. I would appreciate Adam not calling it a hand out, or entitlement program.
It isn't a dig at you, it's a dig at the program. You will likely receive far more than you put in. That's why it's a handout. It's a wealth transfer from the youth to the elderly. The money YOU paid went to seniors before you.
I'm paying into it now and I'm not going to get a single penny out of it.
@@joshfritz5345Yes, you will likely be screwed. However, people like the OP seem to think they have invested some money or something. They haven't. The government taxed them/us and gave the money to someone else. It is an entitlement program.
@@pdc-cp4uvif she had taken the same money and invested it differently she would be wealthy beyond her dreams. It is not her fault the government makes every wrong step. Having followed the rules and and forced to spend your money in a specific way is insulting to start, but hearing this man make this off hand comment about a system which is counter to capitalism.stings every time. And that sting is stronger with time.
@@LynnRPerry The problem is the thinking that the politicians back then and now were ever telling the truth. They have been lying about this program from day one. There isn't some sort of lockbox of money that is being properly invested along with your lifespan. What is taken in is then spent. It is a tax, and an eventual expenditure based on conditions. She would likely be far wealthier if her own money was invested, but special interest groups have made Social Security into the third rail of politics. It is not sustainable any longer. At this point we are robbing young people in the form of tax, and they will not recieve the same benefit. The program needs to be altered and eventually abolished or replaced with a different mechanism if in fact we want to ensure that people have money when they no longer want to work. However, I don't think that the government cares all that much about doing these things from the goodness of their heart.
The post office? The thing that operates at a loss. You be telling me the DMV is smooth operation.
Post office only operates at a loss because of Amazon, before Amazon came into the picture the post office made 1 billion in profit every year
The post office keeps UPS and FEDEX prices in check. If USPS goes away, shipping prices will skyrocket, with nothing to curb them.
Dont forget during covid it was reported that the post office was monitoring social media and reporting back to the fed.
@@spacejammer1991LOL I’m sorry; what??? And oh, it’s nice when you have a literal monopoly on a specific type of shipping. And unlike every other shipping company, you don’t even have to go to the door lol.
@@toddschoonover5919no. They wouldn’t. Both of those are still more expensive than usps. Double so, most times. What, you think they’d triple and quadruple? They are already fairly expensive.
The government doesn’t pay for anything…the people do.
And who is the government supposed to be?
The government literally prints and destroys money every year.
@@obeb787 bro fans of this show might actually be the slowest people on earth lmfao
@@mdchan8644 lol, I don’t want to agree with you. But, It seems as like much of them just keep repeating what they hear without even analyzing. Seems like a script.
😂😂😂 absolutely 💯
Don't you love it when a person intentionally misunderstands and refuses to answer simple straightforward questions because the answers would easily destroy their argument
Which part?
That's the entirety of being a liberal in 2023 lol
J Wilkers
You seriously need to work on your comprehension skills.
Don’t you love it when conservatives can’t comprehend basic topics like marginal tax rates…
Any specific examples?
I work in government as a healthcare provider. I waste ZERO time arguing with insurance companies to cover treatments, but I also am not presured to tack on as many treatments and expenses to my patients as I have been in private practice.
In private practice I have literally be told, "you aren't ordering enough braces for patients" because they want the patient to pay, even for something I deem unneccessary. I also was told to spred out visits and only pick ONE thing to cover. Now, in government, I can see as much as I am comfortable with so my patients dont have to make several visits. I also put in my plans for patients to just call my clinic if they are getting worse with physical therapy and I will order an MRI. In private practice I would eventually get fired for passing up on forcing another visit that can be billed. Government can be much more efficient and cheaper overall in medicine because the decisions I make on patient care are in no way incentivised by racking up as many charges as possible. I am only incentivised to do what I think is medically neccessary for my patients.
Someone with your mindset is the minority in that scenario, gov involvement incentivizes laziness and selling medication.
@@MichaelSavage-zq6gv how did you get that idea? You can hold the government accountable at least. Companies have only one priority and that's profit.
@@vapingfury4460It's much easier to not buy a product from a business than to get a nameless, faceless bureaucrat that you don't get to vote for, fired from their job.
@@MichaelSavage-zq6gv You're just talking out of your ass. Keep letting rich people eat off your plate while you thank them.
@MichaelSavage-zq6gv You just totally ignoring what the OP said. Im sure you know better than the doctor who lives it everyday right?
3% Medicare administrators cost means nothing when the actual medical cost are 10x higher then private insurance. My girlfriend is a nurse in a hospital and she says you won’t believe the number of women who don’t want to pay $15 for a pregnancy test so they go to the ER because Medicare will make it free for them. Yet the hospital is billing Medicare $4k just for the room alone smh
That’s the issue we have when our medical system is so profit driven. America pays more per citizen than any other country in the world for healthcare. We don’t have the best outcomes and we are the only industrialized country without a single-payer system.
Medicare is for people over 65 and the disabled. I'm constantly amazed at the ignorance on the right.
@@0rtu_Soliswe actually have some of the BEST outcomes with the LEAST waiting time.
Canada has a single payer system. Their solution: MAID.
Profit is the exact reason we are successful. When the government says a faculty can’t charge more than $5,000 for a procedure that costs $14,000 just from supplies and staffing alone, you get facilities not offering that procedure or jacking up prices elsewhere to compensate.
You are not only wrong, but completely ill-informed
@@rebchizelbeak5392 That's not true. we have some pretty terrible health statistics that are related to us not having a nationalized health system. We spend more per citizen (we spend almost double Germany does in second place), and a higher percentage of our GDP than any other country when it comes to healthcare spending. We have a 22% higher overdose rate than the next highest industrialized country. Our life expectancy is three years below the OECD average. We have the highest rate of infant and maternal deaths out of all OECD countries. Our obesity rate is almost 10 percent higher than New Zealand who is in second place in the OECD. We rank near the bottom in physician rates, hospital beds per capita, length of time in the hospital, and physician visits.
I work in healthcare and the for profit insurance system is big cause for the exploitation there. Doctor's are often required to give multiple unnecessary exams to patent's because the exam they want to give is more expensive. So the insurances require the cheaper exams first to try to avoid the expensive exam which usually has to be given anyways. This is only one type of example out of hundreds I could list. Medications are also notoriously bad, like the HIV medicine that was jacked up over 4,000% because a company thought it was a good investment.
@olis You could actually make a solid argument that we do have the best outcomes. We have the number 1 success rate in terms of cancer treatment and the highest recovery rate for stroke victims. When it comes to research and development of new medical technology we're second to none. Also, you're claim that no other industrialized country goes without a single-payer system is false. Look at Greece/The Netherlands as some examples
The big difference between Patrick and Sam that says it all for me is; Patrick has his elderly father living in his home as part of his family.
Sam mentioned he loved Medicare/Medicaid cause it pays for his mother in the nursing home so he doesn’t have take care of her.
But, Sam is so much better of a person than everyone… it’s obvious. He’s so much better. Why else would he be ok with people paying almost all their money in taxes.
And? Your point?
,I caught that early on. He does make some good points, but I can tell Sam wants to work the least, live well and have little responsibility
@@JRGPS903 That is not what he said at all but you are a right winger so comprehension and basic facts elude regularly! Why else would you listen to PBD? He dumbs down the right wing propaganda
@JRaborn yeah, because being taxed AFTER 3 MILLION A YEAR, oh poor babies can't buy a yacht for a few years lol. The amount of greed in the free market right now is pathetic! The whole egg price hike? SCAM. The meat prices going up? SCAM. Record profits for big oil, yet they still hike prices? SCAM. Are you seeing it now? "But, but it must be Bidens fault!"🤦♂️
EVERY "happy" ranked country takes care of their elderly and sickly folks. But here, capitalists would rather see our elderly kicked off of ANY assistance, because "My money! My money!" ZERO empathy towards others and a balanced society. These kinds of Americans are the definition of narcissistic sociopaths. "F everyone else, but I'll hide my millions from being taxed because I'm special and don't need to contribute to society! "But hurry up and make my fast food meal because i demand it!"😂
If the government was efficient and effective; people wouldn’t mind paying taxes 😂
Yeah if these taxes went into efficient social programs it would make sense, but we pay taxes and it vanishes into thin air through inefficiencies. This is why everyone should use the tax system to pay as little taxes as possible. These damn politicians just print money anyways when they spend all the taxes they collect and want to spend more.
if they were efficient and effective, we wouldnt NEED to pay taxes!
@@AubatronGreat idea. Everybody should spend years mastering the convoluted tax code crafted by large corporations who know exactly how to wield it and have the armies of liqueurs and CPAs to stay on top of things.
Brilliant plan.
When was the last law you even read out of the hundreds of thousands of pages of existing laws?
@@josephcoon5809 Yesterday actually, how CRA want you to make qualifying withdraws from a FHSA (not American) without it being a taxable event. Was checking if it could be done with real-estate bough from a tax sale. lol
If we must live under governments they should be turning the countries natural resources into profit to pay for everything and pay us a dividend you know like those “horrible” Middle Eastern/African nations we demonise all the time like Libya, Saudi etc
No one paid 90%. There were even more loopholes and shelters back then. They averaged closer to 42%, which practically mirrors what is paid in by the high rollers today.
Taking Raegan's example at it's word (assuming it could be extrapolated out to others in highly skilled contract work), doing 2 movies instead of 5 results in a democratized industry that encourages investing in new and diverse talent. The 5 movies still get made, they just give other actors a shot rather than oversaturate the market with Raegan doing a Raegan impression. Or to modernize it into a relevent example, Chris Prat and Jack Black voicing every cartoon character for a squillion dollars a pop
I think I finally figured out what annoys me the most about Sam Seder: He is convinced that only HE knows the true motivations of everyone.
self interest??
That's the entire political left in a nutshell. They have no arguments unless they're projecting motives onto you.
Way to write a bunch of words without ANY meaning. It's like Tim Pool in written form!
Hes a typical moron. We watch this oversees and wonder how such idiots exist. In america the perception is the world loves them... outside, thats defiantely not what people think. Its very odd.
@@interdimensionalsteve8172or… maybe just work on your reading comprehension? 😂
The fundamental issue with taxes is that we do not receive services commensurate to taxes paid, not by a long shot.
Yeah there is a fundamental flaw with belief that taxing the wealthy will mean the poor and middle class have more money. No, it means the government would have more money. What has the Fed. Government done to make anyone think they could be trusted to fairly distribute that?
It’ll only get worse as the portion of tax revenue going towards interest paid on government debt increases. But government knows what it’s doing, right?
Great comment.
*unless you are an illegal immigrant, single mom, black, jobless or lazy.
@@rambomoore381 ouch. True statement though. How many young black folks with full college rides right now..... i definitely didnt get that priviledge. Nor will my children.
Wild how every one is talking about raising taxes but nobody is talking about cutting spending
Im not sure how that would work with international businesses. Sounds like it creates more opportunities for foreign countries to emerge in the US market since large companies will scale back
It's never about how the taxes will help, they just want to see those with more than them punished. It's envy, not compassion.
Big facts 💯
Fax
That specific question of “how will the taxes help?” Was never asked.
So you’re operating with conjecture.
That is factually incorrect. I envy nobody but support extremely high taxes on the wealthiest Americans.
@@111tedward Why do you think you deserve other people's productivity?
All good when you have an efficient government, an honest government, a government that cares for its people and better yet, a government who doesn't sell its country to its enemies.
Imagine if they were taxing the billionaires at 90%. The amount of shit we could be sending to Ukraine right now.
This has never existed in the history of ever. There has always been some level of deception, corruption, or defiance from a governing body. A states only purpose is to protect it's people.
Which we don’t.
Medicare spends substantially less on administrative waste than private health insurers. You can say the same type of thing of countless different industries.
@@No_co_OK the same level of customer service as the DMV is not what I want in medical care.
Charities often have a 95% overhead. This is not any better than giving it to the government.
Especially those "charities" that claim to fight inequality like BLM. They are nothing else than schemes to enrich the people that run them.
They hire their friends and families, rent expensive offices, pay for hotels and trips and even buy villas supposedly for the community but
in reality for the leaders to live there themselves. And of course they need cars so they lease expensive sports cars and limousines.
The point being, that without the private sector, the government, which does not create revenue, there would be no markets to innovate the means of production and distribution.
Back in the 50's Nobody Paid 90% there were tons of tax shelters in the IRS Tax rules
And we just got done with WW2 where we won. Peace provides prosperity
new money paid them.
Source?
Thank you for mentioning that, Sam is either a liar or ill-informed, either way, he should not be talking about the subject as though he knows anything.
That 90% was never paid. Jeff bezos would leave his money in the business account like right now. And pay nothing
When paying for something:
1. Using your money, you go for cheap + quality.
2. Using someone else's money, you go for quality and dont care for cost.
3. Using someone else's money and buying for someone else, you dont care for quality or cost. That's government spending
well said
Then is 100%
When you go for profits, you pay labor as little as possible, hopefully abuse them, and make products as cheap as possible that purposely fail to have repeat sales. You present the product as if the higher priced one is the best possible, when most of the time it's far from it, and the cheapest one barely works. The range is shit to decent... It's a game.
If the public truly received the best products, and the best for freeing and saving lives, the world wouldn't look remotely as shitty as it is.
@@user-yn1sf9mq3z Wrong.
@@joshuaoverlord5327 It isn't actually.
Here’s my argument for higher taxes. If a business or person is making enough money to be in that bracket, they will be incentivized to find ways to write off some of that income. Like philanthropy, investing, putting money back into their employees and businesses. Thereby reducing the need for government to spend money on some social needs.
Dude the problem with write off is that it creates demand that would other wise not exist. Write offs are a huge reason wealthy spend money and out bid the poor.
Government needs to stop intervening
Thank You. It also has been shown, over time, that the higher tax rate on the upper classes reduces the federal defecit.
Someone starting up will work harder to fill the gaps they leave by avoiding revenue.. Simple it can work that way.
But the government will waste 90% of the 90% because they Inefficient as hell and cronies get rich. 20m for a 10k toilet
Literally this.
My father in law had Medicare and Medicaid and was in a nursing home. The cost monthly was around $8000 charged to the government in an old but clean nursing home. One month they said to my wife we are going to apply to receive authorization from Medicare to give her father music therapy.......my wife said great. We went to see him the next month and they had a cassette player in his room playing classical music which was great. Do you know how much they charged the government? $5000 for the music therapy. This was 10 years ago.....not even a CD😂🎉😢
"I'm not suggesting we reduce revenue from businesses."
That guy is assuming nobody is going to change their behavior based on government policy.
Do Socialists not understand cause and effect?
They do not.
They think socialism is a utopia.
I'm afraid they do not understand anything.
@@sirchadiusmaximusiii thanks for posting what I was gonna post
They do not
The realtor example. Because one super realtor is not taking all the business anymore the tax isn’t lost. It gives changes for other realtors to get successful. Now we have more successful realtors paying tax instead of 1 getting filthy rich. It’s better for everyone
Greed is a sin
If envy and jealousy could be communicated as a policy, this is it...
😂 Classic dumb American view
Exactly
Make sure you poor's keep on defending the rich.
@King Iam or inversely defend my own right to gain wealth and pass it on to my children. All that mindset does is disinsentivises innovation, growth and behavioral maturity.
@@kingiam9271 Getting called a poor from some crypto nerd who probably is poor living at his parents house is the highlight of my day. Thank you! 🤣
Barriers to entry is a big issue. We learned about this in one of my economics classes.
Maybe for an entrepeneur/ sole proprietor but when you invest and are a shareholder.... if its a public traded company like apple and you divide 3 million to 10 millio. Plus shares. No one will invest, company valuations go down, and many peoples 401k and investments will tank....
You can't make the poor not be poor by making it illegal for the wealthy to be wealthy.
I'm 1 of 4 kids in my family. We were all taught the same things about money and yet ALL 4 of us have drastically different outcomes based off mostly effort.
There will always be the person who is willing to sacrifice everything to become wealthy and those who wont sacrifice a donut to be wealthy.
These socialists love socialism as it breeds and rewards very average minds like theirs.
In what universe is earning $3,000,000 a year not wealthy? Hell, even $500,000 a year?
Having millions still isn't preventing wealthy from being wealthy 😂
Not to mention, the wealthy by and large benefit society through jobs, inexpensive products, etc.
90% of all resources will end up in the hands of the few. Sam’s issue is that he seems to look at the government as a “thing” that operates in this theoretical world but the reality is that it’s made up of people. But not just any people. These are people, who as children, had the desire to run peoples lives and make decisions for them. These people had to be absolutely ruthless and step on everyone in their path to get into the positions they are in. These people are actual psychopaths. They don’t feel, they don’t even stop for a second to think how their decisions effect people. These people are the “government” and it’s really strange that anyone would think handing them money is a good idea. This world is truly run by criminals. This is the downfall of democracy. The winner is usually the best liar.
On a different note, monarchy is interesting because it almost guarantees you won’t get a psychopath. Sometimes you do but the odds are low. You often get someone who doesn’t want the authority but do it out of duty, which is how America worked before politician became a profession. We are truly seeing the death of democracy before our very eyes or at least the idea of it.
After watching and fully understanding how much of our tax dollars are wasted by the government and not used to help the people of this country, I’m fully all in the no more taxes boat. It’s ridiculous.
Underrated comment! 🎉 Agreed
Enjoy your train derailments and poisoned environment.
I worked a state job at a school in Oakland. We had to remove the old chalk boards and put up white boards in about 20 class rooms. 1 year later, we went back to the same school and were paid to take down their brand new white boards, put up a piece of plywood and paint it with white board paint. That’s government efficiency for ya.
They need to audit the government first rather than raising taxes.
@@alexstavrianopoulos7385 Our school spent like $500 each for a chromebook (times maybe 1000) and then some parents collect them and then pawn it off lol
1.A 06:00
1.B 07:28
1. When you actually spend time considering how it would be structured on paper to enact what he's talking about,it would arguably be less impactful on the rich as it would be on Middle & Lower classes.
1st it would have to be applied universally to be ethical & fair. 2nd He suggests paying tax strictly off your profit. After all overhead costs of running the business.
I can only assume he means instead of paying tax as is,otherwise thos is simply an additional tax. If so then *Essentially he suggests swapping the 'the tax bracket system' for a single tax to be applied after Essential costs have been paid!*
Effectively this would eradicate the Classes all together,which there already isn't many degrees of separation between the Mid & Lower classes now days. Would it have an impact on the Grotesquely rich? Sure,yet nowhere near how devastating it would be for the rest of us!
Yet he then contradicts himself by saying *"Pay tax on every dollar earned"* Aside from perishable's,we already do sir. For every purchase or even competing Bank Fee's for gaining access to your money.
Face it folks,this system already had it's built-in limits. This was just not widely understood until *Industrialization,Mechanization & Mass Production. * If they were/are the Engines,then Capitalism is the Vehicle* which skyrockets us towards the abyss!
*Yet some would have us add Nos to it by going %100 Digital! *These people are insane!!!*
Larger companies could contribute lots more to retirements but they don’t have to because they are able to be better and cheaper than smaller companies. The small companies are being killed out by the bigger guys. As a company grows and learn efficientcies it gets cheaper or more goes to profit.
I live in Canada and make well into 6 figures. I pay 54% on every dollar I make over $235K and it pisses me off. I've evaluated relocating to Florida for tax purposes. It doesn't keep me from working and trying to earn more but it is extremely frustrating to see so much money going to an inept government.
I retired last year after my local Maryland taxes were raised again. It was raised every year I own my home. So, I sold it and I’m now traveling the world and paying very little in taxes.
It’s basically another way of the government saying we want to make sure you are successful, but only to a point then we will penalize you, so just stay mediocre another words is that what they want?
What city?
I live in Canada too bro I get slaughtered by these taxes and have been slaughtered by covid mandate/lockdowns… I’m moving to FL too in 2 years already decided
@@joshreeder3205 Houston
Perfect example of the rule:
don't take criticism from someone you wouldn't take advice from.
Thanks for this. I'll be sure to remember this.
How about just take the criticism for what it’s worth.
If the person criticizing you is right, then their right, shouldn’t matter if you think they’re a Pos you wouldn’t take advice from.
If the government just squanders the taxes they steal from the citizens it doesnt matter.
I agree! my rule is I don't take advice from someone who's life I wouldn't want.
@@gideon1199 Usually someone you would'nt take advice from has bad ideas. That's the point. Usually a person you wouldn't take advice from isn't gonna be right about their criticism either.
If anything. $5million cap but at that point company/owner is taxed normally up to $5m then 50% of anything above that goes back to employeess' wages/incentives for loyal employees (3-5year) major pay raises. New hires keep base/start pay.
Lol...nobody wants to do business in the scenario
Where in the hell did they find Skid Row Leno?
When Sam brings up the 90% tax of the fifties he doesn't mention they had deductions out the Wazoo and nobody paid 90%.
It is worse now, when somebody like Trump does not even pay Tax there is something wrong
Very true ....our deductions have pretty much disappeared now.
It's funny because he's been over this with other guests on his show multiple times and yet he's pulling it out again here. What a fucking cancer.
And even less people paid their taxes… Therefore they collected even less taxes than what they tried to collect
What you don't understand is those tax rates are for millionaires...after let's say 5 million that 90% kicks in.
Sam needs to lay off the soy, daytime tv and Marxism.
I'm quite certain you don't even know what legitimate Marxism.
@@braveintheattempt well said, comrade
@@braveintheattempt Legitimate Marxism: we've seen it.
@@braveintheattempt nobodies ever seen it because it's never worked in real life 🤡😂😂
I am 59. We were told in 1979, when I got my first job, Social security was for my retirement. I have been working at my job for 40 years. They starting a matching IRA account in the early 1990s. What are you talking about?
Every cries about the in equality of the income, but no one talks about the work input inequality. If you build something up, you get the rewards. If you just work and you get paid what you get, it's not the employer being greedy, maybe your worth in the market isn't what you think.
He fully understood Pat's question, he just didn't want to admit he's wrong.
Yeah he had to change the subject quickly after than one.
very dishonest guest
Yea I did not understand how he didnt "get" the question of who can generate more wealth with money....
Taking away someone’s income over 3 million is the shirt off their back? Even if you don’t agree with it, it’s like taking a shirt out of Jamie dimon’s closet and giving it away
@@dylant22 lol who tf is Jamie dimon?
My parents got a 40 dollar a month increase on social security, and now the government says they make too much and took their 300 month food stamps.
I know! I am on disability and I hate every time I get a little more money because it does me no good. Groceries, gas, electricity… it all goes up and never helps. So depressing
@@derk3933 smart
Why didn't they save with a 401K?
@and_drew_123 they had to use it for medical bills
You make a great case for larger social safety nets
It’s not just actors or realtors. No one, including surgeons and essential businesses, is going to work if you take 90% of their income. It’s a slippery slope to bread lines.
You wouldn't be taking 90% of their income. Off the first 3 million you would take normal taxes. Only the money over 3 million would be taxed at 90%. That people wouldn't work because theoney avoce 3 million would he highly taxes is laughable
Sleezy Sneeder as usual has not tried to even theoretically apply his policies to himself
Sam walked into a bar and says drinks are on me 🍻.. Who's paying?
He's also the kind of moron who yells out "drinks are on the house" when he doesn't own the place.
Anyone who makes over $3 million dollars I guess…
No that was Trump. He literally did this last year at a restaurant in Miami. Please - get the subject of your joke right.
Imagine if the working class could keep that 30% of their income
Most “working class” aren’t paying near 30%. I make six figures and my effective tax rate is less, including state income tax
Learn what a marginal tax rate is
@@DjProdigy909 you think I don’t know what a marginal tax rate is? Effective tax rate is the important figure when discussing how much people are actually paying in a progressive tax system
@@Historyhappenshere not referring to you lol
@@DjProdigy909 ahh my bad!
It was 3 kids trying to debate an adult who has lived a life
Those top line tax %s had well over a hundred pages of caveats that made it more of a administrative move vs an actual tax revenue maker.
The corporate tax rates were higher than they are now (37%) but thinking that high taxes equated to less weath inequality and the most glorious of decades is some of the stupidest shit I've heard in a very long time.
Wow, my Mom worked hard her entire life. Her Social Security was helpful but I would NEVER put her in a nursing home . Especially a government funded and managed one. I took care of her until her last breath. She taught me to NEVER RELY ON GOVERNMENT for anything. God bless her!
When he said that I wanted to slap him. My mother worked all her life as a nursing aid, home health care aid, nursing home orderly. She told me so many stories I never want her in a home. And this ass hat not only celebrates his mother is in a home and he is not responsible for it, but other people should be responsible for it through taxes and potentially hindering them from taking care of their family. Oh and remember he "makes so much money". Absolutely sickening.
But you still relied on her social tho 😮
@@Mogadypopz she paid into it her entire working life genius
@@johncotter9082 not how it works...it relies on the collective that puts into social...
@@godzilla101188 you need to read more. You are so misinformed. Figures.
Rumor has it there's never been dirt under Sam's fingernails.
Ah yes because average office or administration jobs are not real jobs because no one's working in the dirt pile
“Hold on! Let me ask my question.”
Earn $400k and then get taxed 90%!! How do people come up with this stuff.
he said the top dollar
if you make 500k,
400k will be taxed normally, but the other top 100k will be taxed 90%.
@@CountMeCurious yeah. I understand. Who in their right mind would want any of what they’ve earned taxed at 90%? Regardless if it’s the first dollar, or the $500,001 one.
@@heathdetweilerRealtor in an ideal socialist society taxing 90% after a threshold is ok, because healthcare education and living wages are covered.
I also agree with you in capitalism taxes are always bad because the market is free nothing is covered you better keep your money to your self.
He said after 3 million....are you dense?
He said 3 million, and it's sad to see how the false claims of the American dream where you actually think you will become one of the 1% have you believing you will ever be affected by that is hilarious. The rich keep getting richer because they convince the poor that they are just like them when they are far from it. He really asked Sam how are people spending their money when living rent to rent was brought up. Clearly, someone who doesn't understand the issues from his pent house.
It is refreshing to have a place where people with different views can have a civil conversation
Facts
He’s not a person with a different point of view, he slanders, smears and lies, for a living. He’s been doing this for years. This isn’t about differing opinions, it is about liars and propagandists, destroying livelihoods, reputations, even lives, to silence anyone who dares to disagree. There is a clear line between groups of people, now. Liars and truth tellers. Don’t fall for it.
Sam Seder is a long time liar and shill for the authoritarians and has been for years. He literally makes up statistics on the fly like saying more taxes were paid in the 50’s and 60’s.
lol
The problem I have is Companies are designed to make money, correct? They would not give money to poor people as they see it was not making a profit, correct? You would see a lot more death in US if you did it this way. Not everybody has the same capability to make money, if it is Health Problems, if it is disability, if it is aged.
I’m a plumber sitting at home because after I’ve made $120k, it’s just not worth it to work anymore. I get my pants taken away from my paycheck every week. Guess what happens to home service prices when plumbers stay home and do side jobs to avoid taxes?
Well you're listening comprehension is trash because Seder didn't say every dollar you make should be taxes at 90 percent.
@monotech20.14 As is your listening comprehension. He did not mention 90% in the comment. Just a higher tax rate. Which is the problem.
Just think, you tax burden lessens with that 90% tax rate for earnings over 3 million. It would "make America great again"
@@BlurredUniverse357you don’t understand economics.
If you tax someone 90% over 3million dollars, then those people will go somewhere else. Even if they don’t physically move, they will simply incorporate where the tax rate is significantly less.
37% of 4 million dollars is more than 90% of 0 dollars incorporated in another country.
A 90% tax rate would drastically reduce tax income.
Your understanding of economics needs adjusting.
You are the person that would benefit from sam Seder’s policies.
Nothing is more funny to me than conservatives voting against their own self interest.
90% worked in the 50s. The flaw in the hosts point about people will stop working after they reach 3 million income. If I'm a manufacturer of a product and I stop due to taxes being too high someone else will step in to produce that product. Bingo two oeople now making 3 million rather that one making 6 million
Really??? People just automatically have the ability to "step in and produce that product"?? Even if they did, would it be the same product, would it be a quality product, would it be a safe product?? Pardon me, but I really don't want someone like you filling the void of a quality doctor that has reached 3 million in income and can't remove the patient's appendix. I'm pretty sure the patient doesn't want you doing the operation either.
Capitalism has created redundant or overlap businesses. There is not only one great doctor for you there is not only one great cell phone company there is not only one great car manufacturer. We are all kidding ourselves if we think excess wealth is good for the whole. It's not buying happiness it's feeding an unhealthy ego and that's useless to the entire human race. I am all ears, what is your plan. There is only so much money floating around the world. How horrible a life would it be with a 1 million per year income. Really think about that for a split second
Also who said I was going to be your doctor? What the hell.
Listen I'm a low earner I support my family but we live paycheck to paycheck. I don't think we should tax anyone at 90%. We need to hold the government accountable for the way they spend money.
This guy has such a victim mentality. I love that Pat laughed out loud at him.
You conservatives play victim all the time?
How is he a victim? He’s very wealthy and advocated for others. You may disagree with the dude but that doesn’t make HIM a victim
@@degenshaw6386 making it a crime to have over a certain amount of money says it all.
Does it? Because that doesn’t make sense.
@@bortsampson4160 if you say so.
The minute Pat says "let's process this together" it's game on 😂😂💀💥🔥
Like bending down to explain something to a child at eye level
Pat thinks hes alot more intellectual than he really is.
Comeo on Pat choose the wrong person to bully with his childish examples. When he can't get you , he turns around and attacks from another childish point
I appreciate his approach but he gotta realize when he is wrong
@@SouthernSilverExchange "a lot" is 2 seperate words.
I am an estimator for construction jobs for government contracts. If it is an 8A set aside, my normal bid for a $100k project would turn into $160k just because of the stipulated required increases the government makes us include. So instead of profiting $15-30k on that $100k, it turns to $75-90k profit for the business. Yes, PROFIT take home for the company owner after all overhead
What a great debate...so much to learn. Fair chair Pat and you allowed them to talk, very interesting to how yours systems are different to ours in South Africa but the question is what percentage the super rich or show it be a flat rate but all Government waste money....its not theirs period!
"I'm not suggesting that we cut companies' revenue, I'm just suggesting that we take it from them." Sam Seder
he was suggesting that we tax individual income past a certain level
@@gibranmcdonald9853 That's what blayne said. Stay focused.
The effect of which is taking more money from user-end consumers and giving it to the government
Company revenue and individual income after deductions are not the same thing.
@@BH-te5fs 🎯
This guy has zero clue about what government healthcare really is. I worked in Medicare nursing homes for over 13 years and let me you tell you first hand experience it’s horrible healthcare!!! The doctors are awful, they often won’t run tests that are needed because they don’t deem it necessary, the food is horrific. I could go on and on.
Better than no healthcare...
My experience with free health care in New Zealand was amazing. Cracked my head open. CT scans, blood worm staples on my head the works, and it cost me zero dollars.
Problem is that Medicare does not lower cost for the citizens and even supplemental doesn't help the vast majority of people save money, in fact you have to pay more for a majority of services.
yeah give the money back to state that generates nothing, it always worked
if the money won't go to individuals it will go somewhere else
This dude is seriously insane. Love you give these dudes a platform though. The “other” side would NEVER do this.
Your guy.....is argumentative and irritating as hell and he paraphrases his guests comments badly to create a 'spin' for your side. And it works on you people because you want your opinions fed to you. And Sam is on point, brings statistics and facts to every discussion. Facts that are easily 'searchable' unlike the Right who make shit up to feed to you. And you buy it every time. Because none of you like to do your own 'due diligence'.
Sam is also perfectly willing to debate anyone but Right Wingers avoid him because he's generally the smartest guy in the room. Like Dennis Prager who refused to talk to him (ua-cam.com/video/cuY01DhEtZQ/v-deo.html), he debated Charlie Kirk (ua-cam.com/video/cuY01DhEtZQ/v-deo.html). He also debated Tim Pool who still whines about it because Tim did so poorly.Then there's David Pakman who debated PBD (my first taste of PBD and that's where I realized PBD is only argumentative and a master at offering up SPIN like it's facts), Joe Rogan (ua-cam.com/video/WPKIudzwJmM/v-deo.html), Jesse Lee Peterson. And Anna Kasparian on TYT is always willing to talk to any of your hero's.
✡️
Sam is constantly having right wingers, including libertarians, on his show for debates
I know right. I'm so glad YT lets wackos like PBD have shows like this. Let's me see all the mouth breathers in comments who actually buy this snake oil.
ohhhhh wait you meant Sam is the "dude"
Socialists speaking are the best antidote to socialism.
“Tax every dollar made after 3 million.” 🤣 Most people would consider 1 million/ year already Uber rich. The host is right it’s always tax the people richer than me.
3 million+ is fair to tax the shit out of. If you are making millions then all possible financial needs are met, so it's just straight acquisition of power at that point, and we don't need that shit here.
@@Brad-pc3biyou sound like a commie
@@Brad-pc3bi lol You missed the point. If most people consider 1 million already Uber rich then pushing it all the way to 3 million is laughable. Do you know who tends to think we should tax anything over 2-3 million? It’s usually the people making around 1 million. 😂 It’s never tax the rich me included, it’s always tax the tax brackets above mine.
@@shaun5047 whatever the income level is that's agreed on, that should be the cap. Make a billion after, but it'll be taxed hard
@@Brad-pc3bi That would be super difficult because no one can agree on the cap income level. Once someone makes over 500,000 they’re already taxed 37%. That’s why it’s not really surprising that the Uber rich always find ways to avoid paying the high rate. If someone is able to make millions or even billions, I’m not sure why people assume they’ll just give up nearly half of it just because.
I’m not cutting revenue, I’m just raising taxes. Thats losing revenue…
As of December 2023, the average check is $1,767.03,from social security. This is not keeping people out of poverty
When someone repeats 'believe me' numerous times, don't believe them
"I'm not kidding" :)
Some people yes, and it depends on the character of the person that says it. It seems that most time Trump said “believe me” it proved well.
That is what Donald Trump says ! Do you believe him or not ?😉
@Seek and Destroy
How ? In what ways ? No one should be above the law . tRump is a criminal . And so is his entire family . His grand father was a brothel gangster in Seattle Washington and he is known for the first insurrection in American history ( besides the confederacy )
@@samehabuerreish8785 what has this got to do with Donald trump? How does it feel to have one man have so much hold over your thoughts?
The amount of soy emanating from this guest is outrageous
Freaking soymolians
Grow up 🤡🤡🤡🤡
Soybeans for testicles
His show defends Fetterman and calls it ableism if someone dares criticizes him lol
😂😂😂😂
Mayor Nagin was criticized for allegedly failing to execute the New Orleans disaster plan, which called for the use of the city's school buses in evacuating residents unable to leave on their own. The city never deployed the buses, which were subsequently destroyed in the flooding.
Great conversation, proving that opposing sides are not only respectful of each other, but somehow both hugely likable. An altogether feel-good encounter. Thank you so much for this!
Snivelling Sam doesn't hold a single consistent principle in his entire worldview. All of his "grand visions" are completely arbitrary and squarely based on his own narcissism, faux compassion, and superiority complex. Sam knows how to spend your money better than you do.
Sam makes more money than me so he needs to give me some of it
Sam Seder is the definition of Covid-19 booster shot after shot
He's a I promise 1 more shot will do the trick it will work this time kind of guy after his 9th booster.
@@ass4sale2Hopefully one day, there will be a vaccine from Sam Seder and his useful idiots
ROFLMFAO!!
And yet he defeats him with facts the entire time while PBD creates bizarre hypotheticals one after another.
His comment about consumer satisfaction in Medicare---yeah, they can use it as much as they want---almost completely free and copays are much less---so you don't have to be discriminate about it's use, ie, you can use it to go the the Emergency Room for the sniffles--and people do. This is true for all insurance, TO A POINT. But when premiums come out of every check and copays and deductibles are so high, each visit has a larger impact.
Yup, he's something else....
He keeps saying he's not cutting revenue, but that's exactly what raising taxes does.
No one was paying 90%
The loopholes made sure of that
Patreon takes too much so I went else, blew past his own point 😂😂😂
Not the brightest bulb is he
Consistency isnt ever a so called Progressive's forte.
Just like today, most don't pay that 35-37 Tax Adam kept mentioning.
No, that’s not his point. Taxes would come out after revenues. Do you understand how that works? He would pay his employees and invest in his business and taxes would only come out his net profits. It’s completely different than NOT being able to expand your business because someone is taking too much of your gross revenue.
Conservatives are brain dead
Seder is doing a lot of mind reading here. Never base your opinions on what you *think* someone else is thinking.
Glad you pointed this out - that was the most exhausting part of this interview.
To b fair they just talk about same things both sides disagree on forever and never reach compromise. They just talk about things so it's already pre talk not based on any mind reading. They talk about this over and over and just collect the click views and get paid.
To be fair Sam is way smarter than these guys and also was guessing their trajectory pretty accurately
@@MC-ep8cu you are mistaking intelligence with conviction. I see him as no different from the bible thumpers from the past.
@@yogapantsyogurtpants3365 he is like an encyclopedia of knowledge
What ppl clearly dont seem to undersfand is there isnt an unlimited amout of resources in the world or the US. The more wealthy the 1% become, the less wealthy everyone else becomes.
Medicare and medicaid also limit the number of visits to specialty services yearly, something he doesn't mention. They also cut reimbursement rates for services as well
I was the supply guy for my unit in the military and I once paid 70 dollars for a 10 dollar wrench you could get at Home Depot. PBD is not lying how stupid the government really is.
Not stupid. Corrupted.
You're confusing the wasteful ineffectiveness of the US military with government in general. Not to mention the US military basically runs as a money making machine for the military industrial complex, so. I'm just saying, living abroad paying my taxes and going to the doctor under socialized medicine has been a fucking breeze compared to the US
@@heman3141 It’s all relative and proves how inefficient the government is and how they really don’t respect the people’s money. It’s corrupt in a way! And if they’re this corrupt at something like looking for the best way to spend money, imagine how bad they are at these alphabet agencies and the congressional level! Can we as citizens stop them? Come on man! Think past your nose!
@@heman3141 I don’t trust this corrupt government with anything, especially healthcare, and you might want to talk to the citizens in those countries. Their health care is shitty too! Even more so considering many of their wealthy citizens come to America for procedures because of long wait times and unavailability! “The grass is always greener” eh?
@@heman3141😂 thanks for the laugh bro! I still remember living abroad not being able to afford a car cause the fuel alone was to expensive and had to pay 2,500 Euros just to get a license in Germany now in the US I pay less for fuel, electricity, food and my company pays for my insurance while taking far less from my check every two weeks it’s no wonder this country has the most immigrants, most foreign born citizens and most foreign students every year😂, what country are u in?
Yes, the top rate was 90% First, the net rate paid was MUCH less due to the deductions they could take. Second, the unintended consequence was people being paid in benefits not income to get around the tax. Third, lots of capital left the country to countries with lower taxes. If he really believes people paid 90% on taxes, he also would buy a bridge that you had to sell.
I think we can all say trickle-down economics don't work at this point.
This is the fourth or fifth interview I've seen you have with an American lefty in the last 60 days.
I'm guessing the majority of your audience aren't exactly Bernie Bros.
As someone who's politics pretty well align with Sam Seders you're doing possibly the best job at a long term debate/discussion that I've seen from anyone who's conservative or not left.
Having these types of discussions without edit and without trying to talk over the guest builds a lot integrity. I respect that and I look forward to your talks with other American leftys in time.
Yeah, I agree. It could be unfounded confidence that explains why he posts these, but whatever it is, he's doing a service
This.
I'm on the "Dissident Right" but we really need conversations across the spectrum where we can assume good faith from participants and see if a light bulb moment can be reached.
I've had some light bulb moments over the years such as coming around to M4A, wealth inequality, private unions, etc.
Would never have happened without guest discussing all these various topics
@@ltarmenia4ever Lucas, how do you interpret the fact that half of PBD's audience is circle-jerking about "having the respectful and thoughtful conversations", while the other half is mischaracterizing and straw manning the f out of Sam's positions? If honest debate is important, why isn't this right-wing audience an honest one?
Would love to hear your response.
@Feel The Bern you assume the nature of his audience and their presuppositions and worldview - but we should expect constant strawmen regardless. That's where conversation across the other side usually ends up. However it still needs to happen. The more exposure the better the chance to hear the message and not pay attention to the messenger.
I expect most audiences to circle jerk - it's true across both spectrums. The key is that they at least are exposed to differing viewpoints during that circle jerk.
It's better to circle jerk in a large room than in a very isolated bubble.
@@ltarmenia4ever I don't assume the nature of the audience. I scrolled over 20 pages of comments, looked at the thumbs up each comment had, and inferred from that.
You're doing both-sides bs. The Left doesn't nearly strawman the Right this much. If you wanted us to say "YoU'Re JuSt pRoTeCtINg BiLlIoNaIrES!!!!", we could make those accusations, but we actually give you the courtesy of addressing your points in good faith.
These people live in a bubble. If I asked any of them what Socialism is, they wouldn't know. If I asked any of them what Liberalism is, they wouldn't know. All of their talking points were inherited by the propaganda of someone else - political discourse is utterly poisoned by unreasonable minds, who parrot the same sht ad infinitum because they heard someone from their bubble say it. This discourse is not productive in any form, and that's majorly ONE side's fault.
What admirable ideas. Sam's standards are so high that they're double.
nice lol
That sounded clever but was a really dumb take.
😂 perfect
I have alot of thoughts about this. About your examples, if an actor did less movies because of the tax, then other people would get those movie roles. If a real estate agent sells a few less houses per year, then other agents will sell more. We're talking about people making millions of dollars per year, what's wrong with some of that money being spread to others instead of one person?
Next example about UA-cam decreasing payout, this one makes 0 sense. Increasing taxes on higher income earners is nothing like having a flat % decrease on ad revenue.
I was actually against higher taxes, but it makes sense to me now. If someone only does enough to hit the 90% rate, which would already be millions of dollars, then the rest of what he was doing went to others, I don't see the issue, it actually helps with that huge wealth inequality. Also it would grow the economy. If there was one really rich person vs many rich people, I'm sure more thing would be sold.
Dude makes great points, but 90 percent means over 6 million you would give away more than you keep, over 7 million you would give away more than you keep, and so on, until the people getting your free money would have a better life than the person working
He made horrible points what are you talking about lmao
Except that's what _actually happened_ in the 1960's and nobody stopped working. The sky didn't fall. It was one of the most open and prosperous economies in human history.
He’s doing everything he can to avoid being responsible for his mothers nursing pay…
If I had his money I wouldn’t have my mother living in a home. I’d hire a fucking caretaker and keep her with me.
And Patrick mention of one of his episode on his podcast that his father was on Medicare and he didn’t pay a penny on his surgery and I was wondering why a guy like Patrick didn’t put his father under his his health insurance, Just bragging about the cost of Medicare???
@@evanpetelle5669wow what a bum why don’t you get your life together and make enough money so you can do that
@@guilnarharb5849 Taxation is theft, son. Learn that.
@@mattolivier1835Amen
"I'm not talking about cutting revenue from business " We are just going to take it from them once they earn it for the good of everyone. Somebody lock this guy in a room with Thomas Sowell and a few actual facts ... stat. No one is going to be disincentivized to work harder when the government reaps the reward of their hard work ... they will do it for their enjoyment of the work.
He's right PBD's analogy was wrong. You pay taxes after employees and expenses are paid. Profit is cut but not revenue.
You pay taxes after you earned a revenue or loss. Seeder was just saying that this is different then a fee which you sometimes pay instantly. The entire point is Seeder telling Patrick Bet David that his fee example is not the same as taxes.
Thomas "giving people resources doesn't help them" Sowell yeah a real intellectual 😂
That’s not the argument. The argument is that if you’ve already made $3 million you’re not gonna stop working.
how does it stop you from working if it is a incremental tax system? you still make more money at the end of the day. besides taxes slow down inflation so whats the point in working if rent and food goes up?
My view on Private vs. Public comes down to competition. The Free Market makes goods better, and prices cheaper when there is free competition between companies. Not Governments giving out licences to certain people allowing them to operate. Not cartels carving out territories to control the markets. Not mega-corporations who own 6 smaller companies to 'Compete' with themselves. A truly free market with no entry barriers and very low operating costs is what you need. But what about in areas where it would not make sense for there to be multiple competing companies trying to offer similar goods or services.
Take for example the utilities. Does it make sense for there to be competing water pipes in a city? Hundreds of Electric Cables running over head? What about multiple train tracks criss-crossing the country because we wanted the competition. All those resources wasted on redundant infrastructure could be better spent on different projects.
That's where public is better. When there is no competition, you give it to the government. So it is not beholden to shareholders, but to the public trust of the people.
This tax rate system is just to ensure new money cant sustain being in the top 1%. This is to prevent economic mobility. A fair tax would be low flat tax without loop holes.
This dude is in the clouds, if you make taxes 90% after a certain point, people will literally stop working at that point.
Well, we can make laws to prevent necessary people from stopping working.
Lol yeah when we make 3 million in a year. Your not listening
@@tommyjames3322 I'm not arguing against raising taxes on the mega wealthy or just the regular wealthy in general. I pointing out how ignorant his statement is that people will continue to work at a 90% tax rate.
The Beatles sold the rights to their music because of the tax rate in England.
Which sounds crazy but hear me out maybe that is a good thing when we consider we have economists currently saying we have too many employed people and its hurting the economy via inflation. Maybe another company or worker would then fill that empty void creating more competition within the markets.
I really respect PBD for interviewing all kinds of people - and also wish we didn’t platform this dude! 😅
Cancel Sam Seder just like crowder Tim Poole Dennis prager and all the other cowards (who also complain that the left won’t debate them) lmao
Nah. Platform him and lets have a debate. We dont stoop to the level of moderm self-proclaimed dems/leftists/liberals and deplatform
@@dustinanddylc my introduction to this fellow occurred when H3 was supposed to debate crowder and this guy showed up instead. That was cheap
@Professor Tate H3 was supposed to debate crowder and pushed Sam on camera in his stead. That cheap gag turned me off from ever listening to his frantic yelling 😂
People of all opinions should have a platform to express their views, even somebody as retarded as Sam Seder.
The U.S. Postal Service announced its financial results for the 2023 fiscal year ended September 30. The net loss totaled $6.5 billion, compared to net income of $56.0 billion for the prior year.
2/3 of seniors being in senior centers is horrible we have created a society where people don’t take care of their parents so this ruins family values
We don't have a money making problem, we have a government spending problem
No. Like the guy on losing his voice on the left was trying to point out, we have a population that’s too dumb to manage money problem.
This then leads to electing the type of government that has a spending problem.
Which then leads to a guy like this thinking the solution would be more taxation.
We have a government spending problem, everything should be privatized including Medicare and social security, fuck the people that actually work for a living! I love making money and exploiting the working class!
The tax cuts in 2017 significantly reduced government income, in an already indebted country, without cuts. Will add more than 2 trillion in debt. You sure we don’t have a money making problem?
No we have an education problem because you are stuck in 1980s talking points
@Seek and Destroy how’d we get to highest levels of unhoused, uneducated, under insured and in debt? All while you say “spending too much” 🤣 get real
That UA-cam question really caught him off-guard LOL
That UA-cam question was pretty dumb.
@@enerpro2955 no he took the guest hypothetical imaginary situation of spending other people's money and taxing it,,, and turned it into a reality that he could relate to
then the spaghetti became obviously flustered,,, did not seem like he really wanted to put his own money where his mouth is just other people's money
Typical virtue signalling liberal
@@enerpro2955 just say you can't comprehend.
@@enerpro2955 yup hes literally says hes not saying to reduce revenue contineu with his youtube anlogy of soing exactly that lmao
@@Posyidon That's just reducing revenue with extra steps.
For the goal of keeping seniors out of poverty, yes, social security has been a decent program. The problem is, they changed the law that authorizes it. It is supposed to be like an actual investment account. Where new money coming in is invested, allowed to grow, then cashed in 40 years later. This should work for the most part. The problem is, politicians changed the law and turned the “trust fund” into something closer to a pay day loan. New money coming in is immediately dolled out to recipients. It is not invested, it is not allowed to grow for decades. Nope. New payments are immediately given out to recipients. So the biggest problem is not the program itself, it is how it is administered. Aka the government screwed it up, shocker. Just like how most states lottery system was supposed to be used solely for funding schools, but was immediately made just part of the general fund of the state.
When the tax bracket was 90 percent the lower tax brackett was 20 percent. Today its 10 percent no one is talking about that when they mention the 90 percent brackett. Also social security was 3.4 percent when withholding was 90 percent todays social security is 16 percent for self employed. Also the majority of tax exemptions have been eliminated since there was a 90 percent tax brackett. Pretty simple math 90 percent cannot work.
I had the same thought Pat did. Tax 90% at 3 million? I can guarantee If Sam was making 3 million, he'd want 90% taxation on every dollar past 4 million. What a clown hahaha, I can't blame Pat for laughing 😂
If Sam was making 4M - I think he’d be okay with $3.1 net profit - how would someone not live with that kind of cash ?
@@johnnylara that is a lot of money to live off of. However, to create a new business without investors in a industry dominated by 2-3 players is another
Could you imagine trying to fund startup expenses for a computer chip manufacturer clean room with only 3 million dollars? It takes billions of dollars to create a chip plant. Good luck saving up to that with 3 mill a year
The 90% tax prohibits non-established entrepreneurs from entering markets with high levels of entry. But yes! 3 million dollars is plenty to live off of and be veeerrrryyyyy comfortable
@@Mr.J.Conant this isn't on businesses - this is on individuals being tax higher on the marginal scale. I think if you have made $4M dollars personally every year - you don't think you would have enough money to invest ? the argument that rich people don't have the means to find capital is hilarious - they give out loans to rich people at an insanely lower interest rate than other folks.
@Seek and Destroy the point is that if tax money actually went to improve the material condition of the vast majority of people, then sure but when businesses get tax cuts, data still shows that doesn't trickle down to the workers. It gets hoarded.
@@Mr.J.Conant yup, dude really made himself to come off elitist.