The Economy Explained, In Two Minutes (VIDEO)

Points 1&2 are explained by the transition of the United States from a manufacturing economy to a service based economy. People make money for the products of ideas, not labor (the internet is a fine example). This fact also explains Point 5, the disappearance of the middle class. Neither is necessarily a “bad thing” but should be looked at as a byproduct of it being made cheaper to manufacture goods in other countries— government policy at work. It also mentions union vs. individual. Boeing has clearly shown that unions have outlived their intended purpose. Point 3, if you make no income, you pay no taxes. If you’re super rich, you have wealth. If making income would be less profitable for you based on tax brackets, maybe you make no income that year and live off your wealth. Yes, capital gains are the lowest taxed, but thou shalt not bash one for playing by the rules and winning. If you tax capital gains more, you have a fiasco on hand. You risk future investments being decrease, because the market just became x percent less profitable. This assumes the market survives the initial investor run (that time people cash out their stocks in between announcing the change and when the change goes into effect), which could cause a crash.

The health benefits he mentions as being part of the middle class's "increase" in wealth are being cut right and left by GOP govenors. The laid off workers don't have any health benefits, and are off the grid after their unemployment benefits run out, so that skews the whole thing. But he talks so fast so you can't realize he's talking through his nose. One of the rich who want to keep their tax cuts, but there soon won't be anyone to service his car or bag his groceries the way things are going. Wake up and study history. Taxes are lower now than ever, and the country is worse off than ever. Meidcare and Social Security are paid for, promised by the government in exchange for taxes paid by the worker and the employer, due upon retirement. He don't care, he's got daddy's money to get him through retirement.

This guy must be living in a dream world of his own making. Poverty (which he does not make a mention of) has increased as the middle class has grown smaller due to job losses. The reason he talks so fast is to make you think he knows what he's talking about, when he doesn't. The whole nation prospers when taxes are equitable; and the nation suffers when taxes are so lopsided. Robert Reich's video makes sense and he draws it all out. This guy just talks fast so you think he knows what he's talking about and doesn't give you a chance to think about what he's saying before he moves on to the next lie. Obviously one of the "poor" rich boys who must now make a living for themselves.