Comments by "whyamimrpink78" (@whyamimrpink78) on "How Wealth Inequality Spiraled Out of Control | Robert Reich" video.

Not really. Reich needs to learn what wealth is. A lot of the wealth the wealthy own is non liquidated. And many, like me due to loans, have negative wealth but are doing fine. Reich is trying to simply be emotional and not rational.
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@RBReich learn what wealth is bud before you speak. Most of the wealth the wealthy own is non liquidated. A lot of wealth is hard to value. How do you tax that? I have negative wealth due to loans. A homeless person with no debt technically has more wealth than me. So crying "wealth inequality" is simply and emotional statement and not a rational one. Also, just because Bezos and Musk are super wealthy does not mean others are poor. Bezos being the largest shareholder of Amazon, which makes him wealthy, does not mean I and others cannot have a roof over our heads or food on our table.
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@johnlast8578 Reich and his followers just use emotions, not logic which is typical for people who are far left. Wealth inequality is not necessarily bad. Bezos being wealthy, which is mainly due to him being the largest share holder of Amazon which is largely wealth that is non liquidated, does not mean I am poor. I actually have negative wealth on paper due to many loans that had me get my car, my PhD, my current apartment I moved to for my new job that pays me 400% more than I made as a grad student, etc. If someone wants to one can try to value my wealth via my education and work experience, but how do you accurately do that? As for political influence, that is an issue of government having too much power that can be bought. People on the left complain about government being bought by the wealthy but then turn around and want government to have even more power. Or with the tax code. I support a simplified federal tax code of either a tax on the states like it used to be or a flat income tax with a consumption tax. People on the left want a complex tax code which creates the standard for loop holes that the rich usually only know about as they can hire lawyers and accountants. I know many college students who did not know that buying textbooks is a tax write off. And why would they? They don't have time to read thousands of pages of tax code nor higher an accountant. The government being complicated and as large as it is in power created the situation of it being abused by the wealthy. And Reich and his followers want to make it worse.
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@Apollonos Reich remarks sounds of those who can't be rational and thus become full on emotional. Buying politicians only exist because they have power to be bought. Strip them of their power and they have nothing to sell. You do that by limiting the federal government to its two responsibilities, deal with foreign affairs and commerce between states, and give more power to local government. Reich and his followers begging for a more complicated tax code to tax the rich more is why you have that mess of politicians being bought. How long is the federal tax code? It should be simple, either a tax on the states or a flat tax with a consumption tax. The second you create an unbalanced tax code you create the standard for loop holes that the rich usually only know about due to them being able to afford lawyers and accountants. I know many college students who did not know that they can write off textbooks. Why would they? When do they have time or resources to understand our complex tax code? The standard of a simplified tax code means no loop holes. The second you create the standard of an unbalanced tax code you create the ability for loop holes that can favor the rich at times. Reich is fooling you guys. Also, just because someone is wealthy does not mean you are poor.
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@timtrewyn453 one, wealth is not just money. Reich explained that in his video, you seemed to miss it. Someone like Bezos is wealthy due to being the largest share holder of Amazon which those shows are hard to liquidate. Also, him owning so many shares gives it value as it shows he is willing to stand by his product. And if he were to just start liquidating them it will give out red flags to investors where they sell back their shares causing the value of them to go down, and thus Bezos's wealth goes down. Next, most wealthy are leaders. Do you think they just stumbled on it? As for wages, they have not been stagnant. One example is look at cars and how car ownership has been relatively the same for decades, but cars are much better all around. Or how people own smart phones and just better goods all around. Life expectancy has been increasing for decades.
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Seems like Reich needs to learn what wealth is before he speaks. Most of the wealth the wealthy possess are non liquidated. Also, many, like me, have negative wealth but are doing great. Negative wealth due to loans. Crying "wealth inequality" is vague and is not necessarily bad.
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@jessmore9870 what is your point? My point is that a lot of wealth out there is difficult to access directly. My other point is that one can have negative wealth and be fine overall. Just screaming "wealth inequality" is not a strong argument as there are many moving parts to it.
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@lordeverybody872 a flat tax is a flat percent such as 10% across the board. So if you made $100,000 one year you pay $1000. If a rich person earned $1,000,000 a year they will pay $10,000 that year. The rich will be paying more.
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