Patrick Bet-David Destroys Socialist Robert Reich’s Views On Capitalism 

One of the greatest strengths of social media is exposing how unimpressive these people really are.

Please get Robert Reich on the podcast. Your ability to reason and debate is one on its own.

A lady brought my groceries out to my car this weekend that I was picking up at Walmart. I mentioned how much eggs have gone up. She told me she makes $30,000 a year and can't feed her family no matter how much she tries to cut back. I gave her a $100 tip and thanked her. There is no easy solution to this problem. I try to help people that are trying.

Nice video, I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or crypto and stocks

I love the willingness to study multiple angles. We need more people like this rt now.

Thank you for calling him out on his BS

Here in Greece we say socialists/leftist have the deepest pockets but they need to appear as virtuous

the performance of a NBA Player (and even more for a speaker) is much easier and more reliable to measure than of a CEO. I made an apprenticeship in a big Swiss Bank. The CEO at this time was the first one to make as much money as an US Ceo. It was a bit of scandal in Switzerland because the culture despises is as greed (just too much..). Now i was in training there where we talked about it - they said its ok because of his performance (stock value) and the hight amount of responsibility. In the end he nearly bankrupted the bank (it had to be saved by the swiss government) and he never had to pay back one penny of his high bonuses which rewarded his "performance" and "responsibility". CEOs and Managers are not entrepreneurs which take big risks personally.

Much needed! Thank you Pat for fighting this information war for us! 🎉

Thank you for being a voice for all of us Pat.

Patrick, even though I’m a “math illiterate” and my understanding of basic economics is a close second, I enjoy listening to you talk about or discussing of these things. Why? Because I have a great ear for the music of honesty. Doesn’t always mean I like the song, but I can still appreciate a good musician. 👍🏼

Robert is playing the capitalistic game and he's aware of it, only his followers don't, and that's his way of doing it, it may not be a honest way but it's working haha.

Outstanding presentation! Awesome!!..sharing with others....

I will absolutely be watching your debates with the socialists/communists. I've listened to Richard Wolff's talks before about large worker owned companies, who all make the same wage. My question was always, who's going to start these companies? You're not going to get 500 people together who all have a passion for making widget x. Even if you did, not everybody is going to be happy with the same wage as everyone else. There's more to it of course, but it has been several years since I watched the program

College tuition is a perfect example of what happens when we shy away from capitalism. Tuition went up 1500% due to government intervention not because the market demands 1500% more. Then they want to "forgive" your loans while still writing studen loans on inflated tuition prices.

Great points except none had anything to do with the original tweet in question. If companies can afford to make millions and billions of dollars annually they can certainly afford to pay their employees a livable wage. Nothing addressed this point.

Best call out, great video.

I think PBD brings up some good points regarding Reich's hypocrisy.... I guess my issue with the point he's making is that he fails to address the staggering income inequality that has taken place in the US since the late 1970s. He is right that the country is richer today, but the life of an individual in the lower middle class is much worse. Of course, not everyone can be a successful entrepreneur. Additionally, with education being so expensive how can the average person in this class escape this trap? While Reich may be a hypocrite he does seem to acknowledge how much income inequality has affected the average person since the late 70s and does seem to legitimately want to make the lives of the lower and middle classes better.

The world needs leaders who can unite people by giving them a purpose, instead of leaders who go around pointing fingers.

👏👏👏 excellent analysis PBD🙌

Paying taxes? CEO’s get paid by stock and only when they sell their stock do they have to pay capital gains taxes, there’s plenty of ways to avoid paying taxes that these ppl know about so idk what pat is talking about

A agree with both of you; a lot of CEO's especially in the last 40 years, have taken advantage of globalization and financial engineering. They did not create real value but improved profits by outsourcing and buying back shares, increasing profits by cutting wages, which was positive for the company but an overall negative for US . Now demographics will make it harder to do so, and all the companies that did not innovate or invest will suffer, but the CEOs will walk away with all their money. For the CEOs who provide the true value, they should get paid proportional to what they contributed and the risk they took

"The money evens out" is the craziest BS and you know it.

There's a reason why Robert Reich is a go to meme for bad takes.

In the UK we call them champagne socialists. We have lots of these hypocrites here too.

Bring him to your podcast for a hour and pay him 100k to hear his side of story.

Great Great Analysis 💯 wonder his response

Patrick, thank you for making these. That's the first thing. Second, the average salary of a college professor is between $70k and $240k per year. It's amazing how many of these highly paid workers claim to believe in socialism for everyone else but themselves.

Thanks!

I have been getting value from your videos a long time, and I have had my kids watch you as well for free value videos, thank you for your work that provides amazing value to our lives

Truer words have never been spoken! 🙌

I use to follow him on IG and all he does is criticize not giving two sides ! Great video

The problem with his Keynote fee is that by and large it’s being paid by the taxpayer… I.e. when he speaks at colleges.

Thanks for this info Patrick

Absolutely well stated, Pat! I agree with you.

That is the key reason I enjoy watching your podcasts... you look at every subject from several points of view... I was raised to question everything and just because you find one article that supports your view point doesn't mean you stop there because there are hundreds that don't and you need to look at everything you say and do from several different view points so when you stand up and say this is my belief you will be ready to defend it...

you’re speaking too logical brother. Stay protected, stay vigilant.

PBD - you are literally one of my favorite ppl in the world.. keep it real 👊🏻

That’s his hustle he makes a great living by being a critic of capitalism

I really understand what you are talking about and I agree with every word you said. The only question I have is: are the numbers about NBA and college tuition adjusted for inflation?

I find polarized capitalism vs socialism discussions incredibly stupid. A country can't thrive without a healthy mix of capitalist and socialist policies.

Great debate David... BTW adjusted for inflation the average worker salary today is how much compared to 1970s ? Is it true its at 50% ???

Patrick You misunderstood your own question!!! You said NBA getting Millions for playing a game, and all Robert asked is why don't we increase the pay for the workers too? Not just the upper high. If you want cheap labor, there's Mexico, Asia country and other countries. That's why will never have a full Force of workers in America, because of the low pay!!??

Amazing view point

Great work Pat!! I really appreciate all the value this channel gives to me and society! 🧠👋 Greetings from Colombia 🇨🇴

True 💯🔥 and fair argument 👏👏👏

Thank you Patrick you are a breath of fresh air. You make your point very well and very quickly. And you're so right about these academic pinheads. As my father would say "those who can't...teach"

Ok i have some questions you said that collage tuition is up 1500% that only means its harder to get education for a working class family but a ceo getting 10s of millions while the average person can’t afford rent is the point and a valid one at that 🥂💯👍

PAT WE NEED A KYRIE INTERVIEW!!!!!!! PLEASE MAN! I feel like you'd ask the perfect questions for this situation. We need an unbiased mediator

Right on Patrick!

I don’t understand how bringing NBA players into this discussion helps PBD’s argument? The main topic was the disparity between the average person’s salary vs their CEO. Also with the tax argument, hasn’t it been shown that with all the tax loopholes, they really don’t pay their fair share? Yes more taxes because they employ people but again, PBD was not addressing the main topic of the tweet. Disingenuous argument. Just like how Robert R. was making $100k/hr and how that’s more money than 99% of CEO’s, disingenuous to put his income at $100k/he when he probably gives a handful of speeches a year at that price.

Thank you Patrick I love your Channel I agree with everything you say

Get him on the podcast would love to see that one ☝️🔥

Thank you Pat! Great content.

Ok, but is it fair that the railroads have a monopoly and don't invest in their workers or infrastructure. It makes America worse. Same with Amazon, Starbucks and Blackrock ect. If we can find a way to invest in the middle class, that would be great. So, Riech has some valid points about Capitalism going off the rails.

“soCiALisM iS wHeN yOu mAkE nO moNeY” -PBD

To consider any kind of destruction, I would like to see you invite him on your show and going back and forth.

You know what bro. You’re 100000% correct. I almost always agree with your thoughts. Great thinking process.

What was his response?

Can you explain to us trickle down economy?

I saw that post last week, screenshot and reposted on my facebook

Is this channel in rumble?

I think it is very smart to delve into the brains of those that you oppose. Who knows? Perhaps a really big learning opportunity can evolve.

God bless you mi hermano.

Would love it if you'd have this guy on the show.

As a worker my wages have gone up 1,878% since 1990, not old enough to measure further. I showed up everyday, figured out how I could be the best at each position, learned from whoever was considered the best in those positions at the time, reflected on myself and what I could do better. Had I instead protested for a higher minimum wage then I would have increased by 194%. Only ~500,000 workers make minimum wage. And ~60% of those are first job teenagers.

Invite this guy on the Podcast.

Capitalist here, basketball revenues have increased as exponentially more eyeballs are able to watch the game. While there are certainly some massive tech innovations, creating services on scales not seen in 1978, skewing Robert's statistics, wealth inequality at the CEO has drastically increased due to secular decreasing interest rates and regulatory moats that can be exploited to stamp out competition. What Robert does not realize is that these are BECAUSE OF GOVERNMENT involvement in our economy. So his socialist solutions will only make inequality worse as those with political connections are guaranteed more market share. The reason I bring up this clarification is that the Patrick's defense is taking is a common one and pretends wealth inequality is not an issue as opposed to rightfully placing the blame at the feet of government (Federal Reserve for lower interest rates which boosts the share prices of public companies and various regulatory bodies that prevent competition - like the FDA in the case of pharmaceuticals).

Also his argument is that since the CEO salary has increased so much, companies can afford to pay higher wages (supposedly if a portion of that increase went to workers instead) everything you said in the video accept your immediate response was irrelevant with the argument he made

Good one. Thanks for defending human freedom! :)

Capitalism is the way🤷🏾‍♂️.

I have to get back to reading Atlas Shrugged

Patrick what do you think of this thought on social security. As you may know there is a limit where once you as an employee makes that amount in wages the social security deduction stops for him and his employer. Here is my idea. Remove the limit for employers once the employee in question makes the target amount, but the employee still keeps paying into social security with no limit. I hope that you see this. I do enjoy your videos.

His point was clearly that is salerygap between CEO:s and workers have increased alot. I dont think that you are addressing his point at all

Love your work Pat !! From Australia 🇦🇺

It appears I'm still banned from Twitter otherwise I would share this info.

Refreshing to see an open mind.

Can we see a PBD v Robert Reich debate?

BRAVO, BRAVO!! PBD thank you for this message - you never disappoint!!!

Pat you are the man keep up the good work

Corporations are paying less as a % of federal revenue than ever. While payroll taxes have increased as a % of federal revenue.

If the CEO of Intel split their net compensation equally among the rest of the workforce, just forfeited their entire compensation package, healthcare, stock, bonds, securities etc. Converted it all to cash at 100% efficiency, then divided it up evenly among all of Intel’s employees, they’d get a grand total of $552.72 in additional yearly salary. Significant? Yes. Significant enough to dramatically improve most people’s quality of life? Probably not. I mean $500 is a lot of money but I wouldn’t call it a huge raise either.

I am a fan of "the free market". I understand "economies of scale" which increases efficiencies as these businesses generally increase in size. My challenge sounds like it is similar to your in I have issue with how large corporations are allowed to lobby government and how they are allowed to become effective monopolies or combines which defeats the point of a free market system. I believe this is the impetus for much of the push for socialism from the average individual who toils yet has not seen a wage increase in decades; while their tax dollars are going to making it easier for many major corporations make crazy profits. The scale is out of balance and increases the potential for a major uprising. When the pendulum swings too far one way, it swings back the other hard and fast.

Hi sir can you explain what is wrong to raise employees salary while CEOs and basketball players get raise every year.

A win win situation is the future.

Had a guy in high school who was 6’7 and had so many D1 offers and never started a game.

The original Twitter comment was not addressed. Also, about half the video was a personal attack rather than an argument of ideas. No need for theatrics.

Not sure where you got your public 4-year cost figures; my tuition at University of Illinois in 1975 was about $750 per semester, $1500 per year, not $245

Argument Definitely makes since. We also need to know if Rob Reich has a staff. If his pay is that much does he pay them accordingly.

Hey Pat, do you know that in California the minimum wage in 1974 was to $2.00 prr hour and since then has increased roughly 500%? I love capitalism, but we should be concerned of the life conditions that people at the bottom can afford with 11 bucks per hour.

You the real mvp pbd.

It's always easy to see the people with blinders on when you can broaden your view on all that reality has to offer.

Would you bring Stefan Molyneux on your podcast? He's quite a polarising figure and would be great to have him.

Pat, your content has been so refreshing. Keep being great my dude. 💯

Please bring back yaron brook on your show

how many people work under a corporation and how many people work in the NBA or give keynote speeches as a living? rise of college tuition is criminal but so is the fact that working class hasn’t been compensated fairly in decades. I know you felt like you hit a home run with this video but not your best work Pat and I’m a pretty big fan of you and capitalism

PBD fire wherever put that $1,00,000 an hour on your video

Patrick we need to hear from you over on Sammy’s channel

Very great points Pat and I believe this is genuinely one of the only arguments that "pro communist" people have no retort for. How do you vehemently oppose a system only to benefit from it when it suits you?

It's the distribution Patrick!! - it's the distribution of wealth- that's the point he's trying to make and you're dodging it.. Everytime the argument made to increase the minimum wage there's a push back from conservative saying "if you want more pay then go back to school and get a degree to get a better job" ... but the problem with that is that you go back to school get that degree that would subsequently get you better pay- but now you have a student loan debt that is now attached to your ankle like a ball and chain.. What's worse is when you get said degree the capitalist minded business CEO wanna low ball you with a salary not matching what you're worth.. so now you have a student loan debt along with your necessary needs debt to contented with- which subsequently puts you right back where you were before getting said degree.. New York passed a salary transparency bill last week- to force employers to post the salary along with the employment ad.. the real question is WHY DOES THE GOVERNMENT HAS TO PASS A BILL FOR SOMETHING SO OBVIOUS? 🤔 employers were manipulating that game for yrs - ever since Reagan and his reaganomic policy - the money has never trickle down to the employees (that's doing the heavy lifting) as the policy was intended.. Robert Reich is only pushing for a fair living wage for the middle and lower classes (regardless of how much HE makes per speech) it tell me that, while he has climb up the wealth ladder ,he want others below him to prosper as well- many of the top earners don't give a crap about the folks below them (especially their workers) I respect Robert Reich for speaking up for the little people... capitalism is a good thing but only if it's done fairly- its is being manipulated today to the worse of mankind - near corruption! I watched a billionaire donate millions to their alma mater (which already has millions in endowment) while their employees are earning minimum wage and having high out of pocket cost for their medical insurance.. I would think said billionaire would take care of their employees 1st before making record donations to a university.. that's just one of many examples but I'll leave it their.. P/S : before the pandemic, cost of living grew 3% per yr, while average wage increases a measly .09% Just imagine if average wage would increase at the same pace as cost of living? (Maybe you wouldn't have so many people homeless or on public assistance 🤔) But it's a system intentionally set up that way to have people chasing that cheese that they would never capture - and it also keeps the citizens in control and dependent (that goes for both parties) Republican screw the citizens via corporations(they will always point fingers at the corporations when policies fail instead of themselves- no accountability) while the Democrats screw the citizens by way of hope that never come to fruition (promises to cancel student loan debt just to get in office) 😢