The Biggest Deficit You’ve Never Heard Of | Robert Reich 

Amen!

Correct! Also cap the salary of our public officials and tie it to the average wage.

@@ryanmitchell5614 Would paying them less, lower their susceptibility to taking bribes?

How about term limits for congress

public officials cannot have ties to any stocks ar assets to any private company

I think Trump's term in office was about about making Trump great again..

@@Zach-ju5vi 'scuze? The period from 1950-1970 is often called the 'Golden Age' of America. Most families got by on one income because unions kept wages high, public investment peaked, and Americans as a whole were wealthier on average than any other time in history. Yeah, sounds shitty, right?

@@Zach-ju5vi right wing talking point...NOT TRUE!

@@Zach-ju5vi Love to see you evidence for this ... seriously ... show your evidence. As a historian, I've not seen this to be the case, so I'd love to be shown how I'm wrong in my thinking ... please give me evidence.

@@Zach-ju5vi That is the 2nd stupidest thing I heard all week. What is your factual proof this will happen? Not bullshit lies you heard.

And the majority of Texans will continue voting for Republicans like Ted Cruz, voting against their own interests. The Republican party sure boondoggled them.

@@christinemusselman5499 Let's hope it isn't the "majority" of Texas voters anymore, but I am certain it will still be way too many.

@@nathanh6439 I'd like to think that, but you can't fix stupid. Many Republicans I know are ignorant and proud of it. Thus they are easy to manipulate.

If you think that their power problems had more to do with profits than with government energy policies, you're a DANGEROUSLY stupid person. You are not educated enough about the topic to share an opinion.

@@IWLDELJ You mean since they weren't affected by any government energy policies?If they were to have just dealt with those policies instead of trying to do it on their own and having their grid privatized there wouldn't have been any issues

That is true, many corporations do tend to value the short term over the long term. Companies such as Delta are highly cyclical and take large bailouts to stay afloat.

Burping out talking points. Be smarter. How many 🦄 companies lost money for years. Stop just repeating talking points.

NO!! Youre wrong!! Corporate Greed is corporate Greed!! Period!!

The flip side is the scam Amazon did. They posted losses for 20 years in an attempt to form a monopoly. By avoiding taxes and ramping up infinite growth by front loading debt they took over the American economy. Both attempts, short term'ism and 20 year loss reporting, are accounting tricks where capitalism has been hacked.

Look up, what Wall Street tried to make Costco do to increase their profit, and the CEO fired back a comment that was historical and for the people

yeah its funny...but where does money come from? ...

@@jamessilver6429 millions & millions of people working & not getting paid enough for their labor.

“Socialism for the rich, rugged individualism for the poor” ~ Martin Luther King jnr. Notice a lot of similarities in the astute observations of generations gone by, yet not enough do not learn from history.

@@jamessilver6429 it’s the same as the “how are you gonna pay for it?” when it comes to Medicare 4 All from corporate media - CNN this time, not so much Fox News Network Corp. The answer has always been, it is the people who generate the wealth of a country through our labor, services and ideas...it’s the misappropriation of those at the top that impoverishes the nation.

We were blessed with a comedian I could see through the bullshit

@@Zach-ju5vi Awesome, another troll for my good old block list. lol

@@Zach-ju5vi lol 😂 do you know how to do to respect other? I believe every one who on earth are way way better then you seriously. 😂🤣

@@Zach-ju5vi bro have you been sleeping under a rock? Trump is no longer president now bidens in power

I'm kinda looking forward to someone running for office that wasn't born in the aftermath of WW2. Its time to pass the torch to a new generation of Americans. Only 3 of the last 7 presidents were even close to working ages, the rest were senior freak'en citizens! For me, that's a problem. It's becoming more obvious than ever, that an 80 year old career politician has no clue about the struggles of the working American middle-class.Why won't these out-of-touch dinosaurs just retire already. 😕

@@Zach-ju5vi you made a mistake in your wording. We _had_ a senile idiot in charge, we don't need another.

Thanks for your feedback for more guidance I can link up with something new..T..e..x..t..M..e ➕..1️⃣..3️⃣..3️⃣..0️⃣..4️⃣..0️⃣..6️⃣..9️⃣..2️⃣..4️⃣..2️⃣🇺🇸

Drinking Robert’s kool aid

ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-T7R2-5aShVo.html

@@mfernandez4869 imagine living in 2021 and thinking trickle down economics works. The countries with the highest productivity levels are social democracies. They also have lower debt and a higher status of living. Like what’s your point? There aren’t enough jobs for everyone, should those people just starve?

@@brandonbohan7281 I agree. We only need to convince half the country to work and support the other half. Or better yet just one third of the country works. And then if we can get them to pay 90% in taxes to support "us" then that would be great also.

He already had his chance.

He was with the Clinton administration and was largely ignored. He probably thinks he can make a bigger impact by influencing on social media.

@@brs293 It's working. Obviously. He knows a lot more than any of us about the ins and outs of this.

I agree 100% with you on getting this man in Biden's cabinet. That would be one of if not to best decision Biden could make.

Infrastructure investment is straight up malinvestment. Ideas from retards that do basically no deep research is evidence of democracy's idiocy.

@@Zach-ju5vi Yeah, well get back to us after you do some research on how much spending is done by "conservatives."

​@@Zach-ju5vi My... "overloard?" O_o You're just an ignorant little troll who deserves no response, but for those who read your comment and are confused at your idiocy: This video is about *infrastructure* investments. The troll who replied to me clearly didn't watch it and/or he has no idea that Republicans don't spend on infrastructure, but on tax cuts for corporations and the wealthy. And that, too, was clearly covered in the video.

That's Old School Conservatism. Today, they are Con-Serving Thieves

@@Zach-ju5vi Well how are we supposed to have a good school system when the teachers, who are the backbone of education, have only passion as their motivation? They are getting payed piss poor because of deregulation and weak unions that can't bargain their salary for shit. I probably dont have to even say who is pushing for deragulation and bad union communities, but i'll do it anyway. Conservatives.

@@tohotto1 Kinda hard to take someone's opinion on reading a book when they say payed instead of paid. Sounds like you need to take your own advice and read up on basic grammar. It comes off badly when you're trying to promote others to "educate themselves" and yet clearly you need some work there as well.

Investing in Children’s education and up ought be a no brainer , as they are the future workforce that shoulders society. It’s a shame a few people are fooled thinking too much money is spent on public education (teachers are severely underpaid and Texas dictates national text book standards), and is often undermined by Religious intrusion in S.T.E.M.s and Political revisionism when it comes to American history. It’s obvious from the get go that former secretary of education billionaire Betsy Devos had a keen interest to privatize and charter education. Don’t know about Biden’s sec. of education however.

and the more we spend on education the less we get from it.

It’s just about feeling good. THEY ARE our countries future! Yes kids are smart and eager to learn. They are like sponges! We will all benefit if we invest in them

Biden is on the right track

He won't know who he's talking to or remember what is said. It wouldn't matter because Reich is full of half-truths and lies.

Or, they just let it sit and stagnate, which kills an economy, because money needs to circulate.

@Solstice of Snow Yeah, it trickles down so well. Funny that when the top marginal income tax rate was above 70%, the economy grew faster, benefited more people, and CEO to worker pay was at least ten times lower than it is now. How does shoe polish taste?

@Solstice of Snow All of those tech things that you mentioned were made by workers. If it wasn't for people building them and buying them, those rich people wouldn't be rich. You've got your cause and effect backwards.

@Solstice of Snow Who pays the workers? The people who buy the stuff. And the top tax rate leading up to the Great Depression was 25%. Harding and Coolidge cut that 77% top marginal rate years before it all came crashing down. If you want to interpret facts a certain way, at least have the decency to have your facts straight.

@Solstice of Snow "Massive tax cuts"? The top rate went from 91% to 70%, and the category for capital gains treatment was tightened up, so that doesn't prove your point, either. There was a lot more growth in terms of GDP in the 1940s and 50s when it was over 90%, or do you think that the real voodoo in voodoo economics comes when you lower the rate regardless of what you lower it to?

Ever wander why we pay so much for medicine from companies that get tax breaks & our federal money to develop these life saving drugs? Bazi ga!!!!!

Kyrsten Sinema and Joe Manchin would beg to differ.

That's nonsense. The Republican states and cities have far better education and school systems. Why are so many people leaving left leaning states like CA and moving to red states like TX and FL? I live in Los Angeles and I wouldn't dream of sending my children to the public schools here. Every Democrat lead city across the country has higher deficits, worse education, higher crime, yet the people who are most affected by this continue believing that Democrat leaders are helping them. Utter nonsense.

@@fixbuildrentrepeat Utter nonsense is what you are spewing alright. People are leaving blue states because of real estate prices. Then finding low education standards in the southern red states and complaining en masse. Fear not though, we will raise the education levels where you live too, then you can see the error of your statements.

As a pacifist, I’d love to see that happen but China’s messing with us and they’re increasing their defense budget dramatically. We can’t afford to sit back.

Biden seems to be doubling down on starting a new cold war with China. We're going the way of the USSR with our military spending.

We spend three times more than anyone else in defense. We could cut this some.

Best comment

We spend TRILLIONS on the defense budget. If we took just 1% of that money and invested in infrastructure,education and welfare, we could help a lot of people.

and wrong!

Why? Go back and look at his record. He didn’t do anything for the working class.

@@gertrudewest4535 Sec. of Labor is only as powerful as the sitting president and the zeitgeist of the moment allow, Gertrude. I acknowledge that Labor Secretaries don't have magic wands, Gertrude. President Biden today is FAR MORE vocally pro-Union than Bill Clinton of yesterday and, as such, is compelled to greatly increase the Secretary of Labor's purview. Robert Reich promoted the interests of the working class better than most! As Secretary today he would be permitted to do a hella alot more now than he was allowed to do then, Gertrude.

In Norway, 89 cents of every dollar earned goes back to the stat in one way or the other 👎

@@iamchriswick cool! We should be more like Norway!

Thanks for your feedback for more guidance I can link up with something new..T..e..x..t..M..e ➕..1️⃣..3️⃣..3️⃣..0️⃣..4️⃣..0️⃣..6️⃣..9️⃣..2️⃣..4️⃣..2️⃣🇺🇸..

Not even that, they happily let the military budget run away to amounts nobody can imagine anymore.

@@uncinarynin they are a neo-feudal party, "greetings m' lord, your grace"

However, the Greedy Oligarchic Partisans do NOT believe in imposing austerity on billionaires.

I wish. Crazy old Reich has gone full on commie. He seems to have missed the fact that free market capitalism made us the most productive and thereby the most prosperous country ever.

They are also, sadly, an unAmerican/pro authoritarian party as seen through the last few years.

Proudly indoctrinating yourself?

@@IWLDELJ Well, since you asked: bologna.

They are! it covers the fact that he's not telling the truth.

Tomorrow at 8am PT/11am ET, prof. Reich will be testifying at a Senate hearing led by Bernie Sanders on how to tackle our crisis of widening income and wealth inequality. You can tune in on Sen. Sanders' Facebook page.

@@natashadavis824 Thanks a bunch. However, I don't have Facebook.

@@natashadavis824 for starters , why doesn't bernie give away all his houses!? and lets not even get started about polosi. and theres maxine and the clintons, and the obomas, al gore , etc. loud mouths , locked pockets ! HYPOCRITES AND FOOLS.

@@natashadavis824 and good ole biden got a bunch of houses hisself come to think of it ! hmm wonder how he got them? 50 yrs. of being a corrupt hack , play along with the "system" polotician didn't hurt none !

@@natashadavis824 and lets see , in recent times corrupt buisness dealings with ukraine, china etc etc etc. maybe you're rich? if so why don't you give away your belongins and money , instead of asking people who can't afford it ie taxing, outsourcing etc and also who just don't want to give it. it seems doesn't it , that sanders, obama,biden etc. don't want to.

Thanks for your feedback for more guidance I can link up with something new..T..e..x..t..M..e ➕..1️⃣..3️⃣..3️⃣..0️⃣..4️⃣..0️⃣..6️⃣..9️⃣..2️⃣..4️⃣..2️⃣🇺🇸

Thank you, President Regan for your absurd notion of the benefits of "trickle down" economics. But the billionaires seem to be happy.

@@growthandunderstanding you are so right my friend this is the price of capitalism it doesn't profit the regular people it's about the big companies making the biggest profits while paying us nickel and nothing am I guess I'm lucky because I downsize I live more simple ..I will turn to Billy and I work for myself anyway buffalo.com do that those are the people ..I'm sorry for..

@@growthandunderstanding Regan didn't lie. The people got what he thought they deserved. Aka a golden shower.

@@justinfowler2857 Trickle Down Economics is not a lie? There's just no educating the ignorant.

@@skapunkoialternativeliving6522 I am a fan of capitalism, I just believe that all the agencies that existed to regulate large, over powerful corporations should not have been decommissioned by Regan, Bush 1, Bush 2, Trump and other pro-oligarch presidents.

Yep, that was him!

@@MizaT11 neat!

Truth!!

While the financial model for China's public sector investments might be a story of success, there's still the issue of basic rights for the citizens of China, which - according to a number of articles brought by Western media - seems to be lacking. If our Western media can be trusted on this, the people of China - are being monitored all the time - are being subjected to a massive amount of propaganda - are being cut off from the information highway, only having access to a narrative approved by the Chinese government. And also, with China's level of (super)power increasing in relation to other nations to the point, that China is able to bully other nations into submission with threats of either military response or trade wars, the future starts to look very autocratic.

@@pHD77 Key phrase of your comment: "If our Western media can be trusted..." The media has gotten its information about China, Tibet, HK and Xinjiang from the same sources it got its info about Vietnam, Guatemala, El Salvador, WMDs, and the murder of Asian women being the consequence of some guy having a "bad day." I'm a U.S. citizen who has been residing in China for more than 14 years. What's actually being under-reported are statistics such as in 2019, there were more than 5,000 local public demonstrations against local policies and corruption, and in most cases, Beijing sided with the demonstrators. People in today's China truly do have a voice! While they can criticize government policies and make suggestions, what they don't get to do is to challenge the authority of the government to govern. That's when they get into trouble. (January 6 insurrection, remember? Some politicians actually refuse to call it that!) There are cameras everywhere, and anyone who has nothing to hide is quite thankful, as they're not being misused. There are laws in place prohibiting use of cameras in private places such as hotels and bathrooms, and penalties are severe. The recordings of public cameras are used only when there is an event or occurrence that justifies the reviewing of the videos. Meanwhile China is a country that is essentially free from fear, something the U.S. certainly cannot claim.

@@RechtmanDon But is China a country of censorship? I mean, something like news outside of China... The reports I've read says, that news websites outside of China are not accessible. Same goes for Facebook, RU-vid... pretty much most popular American websites.

@@pHD77 No, Chinese people know very well what's happening elsewhere as well as in China. What they don't get access to are the dozen or so China hate channels on RU-vid or the anti-China Facebook terrorist cells that are still permitted to exist. (The Middle-East terrorist groups were recently pretty much cleaned up by Zucker, but not the anti-China stuff.) Rather than review every RU-vid post, China decided to simply ban RU-vid outright, as there is so much fake news and anti-human/anti-humane channels permitted in the name of free speech. Did you know the U.S. gov't has an official policy created in the Bush years during his war that prohibits media showing all the caskets of returning U.S. soldiers? At least China is attempting to censor fake news. Why do that? You can look at the U.S. as a great example of what can happen to a nation that is constantly swamped with fake news--can you say QAnon? Chinese people quite often ask me what I think about Trump, Biden, and even Obama, and I tell them, and they also tell me what they think. They are also very aware of the COVID disaster and the love of guns in the U.S. However, they cannot understand it, as they have grown up with a government that places people above money. They are quite proud of the way the Chinese government took control of the virus; they also knew when certain areas were medium or high risk, and when the risk status was removed. When an asymptomatic case accidentally got on a train, the Chinese news immediately reported the train number, time of travel, and stations visited. When the tracing was completed, that too was reported.

Let me save you some time. Borrow + Bomb = a False Profit.

@@humboldthammer so...you don't know why i'm asking the question or what information i'm looking for. I wanted to see the rise in military spending vs the decrease in infrastructure spending. yes, the military is almost totally a waste of money.

@@Frostfly That Visual is easily extrapolated from the charts. The last 4 NDAA's have all been around $740 billion. Not just a waste of money. It's the planned demise of our 250-year experiment in self-government on 09/23/26, the autumn equinox of the US' and the Illuminati's 250th year. And it was the brainchild of the FISCAL CONSERVATIVES. When all the money is gone, they will finally End Entitlements. They went underground right after fully funding the War on Terror and the Spy State -- except for those who masquerade as Democrats. Those Democrats have approved every NDAA, too, and then added some SOCIAL PROGRAM pork with a trickle down promise -- just like the Republicans.

@@humboldthammer oh good, can you put that on the graph in the video now so i can show it to people who don't understand? Cuz I don't give a shit about the math. i want a PICTURE to SHOW people.

@@Frostfly Gosh Dang, draw your own, bro. Military spending since 2017 $3 trillion. Infrastructure spending since 2017 $127 billion.

True to some degree, the major problem being that when the republicans have the congress during good times, the money is used for tax cuts for the people supporting the republican party's coffers. And as much as they beat their drum about patriotism, actually investing in the future of their country is apparently not something they see as sound spending.

@Solstice of Snow Nobody is talking about taxing the hell out of people. What's argued here is that the richest quartile of people paying at least 25% of the total taxes, and not less than 2% as it is now.

"You have destroyed yourselves with your war of Gods. Now bow down and worship YOUR BEAST." That's what Xi says, 10/12/26. He's the X-Christ (Daniel 7: 8) whose time has now come. He means the NEON GAUD, unveiled at the Jubilee to forgive ALL OUR DEBTS on 09/23/26. hint: in GAUD we trust. Men will LIE, CHEAT, and STEAL every time.

@@humboldthammer Wow...Relax dude!

Thanks for your feedback for more guidance I can link up with something new..T..e..x..t..M..e ➕..1️⃣..3️⃣..3️⃣..0️⃣..4️⃣..0️⃣..6️⃣..9️⃣..2️⃣..4️⃣..2️⃣🇺🇸.

It blows my mind that the vast majority of comments supporting Robert Reich's ideas reveal mostly ignorance. Also, notice how you don't have any hard numbers on what would make them "properly" taxed? It's all intentionally vacuous, meaningless, and vague. The entire US population that makes less than 50K a year pays less than 6% of all of the US federal tax revenue. That's the bottom 60% of earners paying less than 6% of the taxes. About 22% of the population earns 50k to 100k a year, and they pay 14% of all of the US taxes. This data can be further broken down, but for brevity's sake, not one US state considers people earning 100k or more a year to be less than wealthy, and the 100k and more populace, about 17% of the populace pays the remaining fucking 80% of all US tax revenue. How much is fucking "properly" taxing them? How about a number? Also, where is this phenomenon of privitizing public services? What are some actual numbers? ANY trends? WHERE is it happening specificially? Because I have lived in various places, and my private services in Georgia and Mississippi were VASTLY more effective AND cheaper than my public services here in California. Do you actually know ANYTHING or are you just another completely brainless extension of the leftist hive mind whose incorrect conclusions are drawn from false premises?

Bc it went to defense contractors who have lobbyists. Not that much profits in building roads. That's why you have private companies building and charging back with tolls.

And churches. Never forget the Christian preachers' role in making Americans dumber and less willing to engage in changes since everything is somehow parts of God's plan, which curiously doesn't apply when the political landscape is not bending to their will.

@@theodorevibritannia7988 Very good point. I often lament over the hypocrisies' of the religious folk.

Thanks for your feedback for more guidance I can link up with something new..T..e..x..t..M..e ➕..1️⃣..3️⃣..3️⃣..0️⃣..4️⃣..0️⃣..6️⃣..9️⃣..2️⃣..4️⃣..2️⃣🇺🇸

Thanks for your feedback for more guidance I can link up with something new..T..e..x..t..M..e ➕..1️⃣..3️⃣..3️⃣..0️⃣..4️⃣..0️⃣..6️⃣..9️⃣..2️⃣..4️⃣..2️⃣🇺🇸

That comment alone says you (probably) don't know very much.

It would help if the textbooks weren't mainly from Texas

@@IWLDELJ Your comment says you like to be rude and not contribute to the conversation. Mr. Reich literally pointed out early childhood education as a wise investment so not sure why you think you have a point rather than a useless quip

@@everentropy Reich is commonly incorrect. His data is generally highly selected to offer the exact narrative he wants to support. I don't like to be rude, and I do like to contribute to conversations, but I understand the reality that there are rarely such things as productive conversations with ideologues, so my strategy is not to engage the ideologues, but to ensure that normal people that browse comments under ideological zealots, like Robert Reich and Bernie Sanders are offered the opportunity to see that there are alternative narratives to the dangerous idiocy peddled by ideologues like these and their fan base.

@@IWLDELJ The education system is one of the reasons for the significant anti intellectualism in the U.S. But I guess you know better.

Thanks for your feedback for more guidance I can link up with something new..T..e..x..t..M..e ➕..1️⃣..3️⃣..3️⃣..0️⃣..4️⃣..0️⃣..6️⃣..9️⃣..2️⃣..4️⃣..2️⃣🇺🇸.

@@meetkevin8280 Please accept my apology. My material isn't ready for publication. And I shouldn't have spouted off that way. But I'm completly confident in these trend lines. Proportional wealth extraction since the 80's is a real thing. Please, PLEASE look at it.

Thanks for your feedback for more guidance I can link up with something new..T..e..x..t..M..e ➕..1️⃣..3️⃣..3️⃣..0️⃣..4️⃣..0️⃣..6️⃣..9️⃣..2️⃣..4️⃣..2️⃣🇺🇸

@@meetkevin8280 I sure wish You were working under the Biden Administration.

GREAT ANALOGY!! Thank you!

So true. I love your analogy.

Then they try to sell the people a private bridge.

He explains that in the video. Like a business, when you borrow money to invest in your company, your company grows and is more profitable to pay off those debts. Likewise our economy will grow if we invest in education and infrastructure and there will be money to pay off those debts and spend on further future investments.

@@jwallah346 That’s what they said 50 years ago. When does this magic happen?

@@oldcountryman2795 That's what they said 50 years ago but then they stopped investing after that, pretty much since reagan. So of course you don't see the benefits if you don't do it.