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Income Inequality is Good

Income Inequality is Good


What if every little thing you’ve found out about revenue inequality is incorrect? What if it’s really a good idea for there to be individuals that are abundant as well as individuals that aren’t? John Tamny, editor of RealClearMarkets, makes clear among the huge misconceptions of our time. Donate today to Prager U! http://l.prageru.com/2ylo1Yt. JoiningPrager U is cost-free! Sign up currently to obtain all our video clips as quickly as they’re launched. http://prageru.com/signup. DownloadPragerpedia on your apple iphone or Android! Thousands of resources as well as truths within your reaches. apple iphone: http://l.prageru.com/2dlsnbG. Android: http://l.prageru.com/2dlsS5e. JoinPrager United to obtain brand-new boodle every quarter, unique very early accessibility to our video clips, as well as a yearly TownHall telephone call with Dennis Prager! http://l.prageru.com/2c9n6ys. JoinPrager U’s message listing to have these video clips, cost-free goods free gifts as well as damaging statements sent out straight to your phone! https://optin.mobiniti.com/prageru. Do you go shopping on Amazon? Click https://smile.amazon.com as well as a percent of every Amazon acquisition will certainly be contributed to Prager U. Same excellent items. Same small cost. Shopping made purposeful. GO TO Prager U! https://www.prageru.com. FOLLOW us! Facebook: https://www.facebook.com/prageru. Twitter: https://twitter.com/prageru. Instagram: https://instagram.com/prageru/. Prager U gets on Snapchat! SIGN UP WITH Prager COMPEL! ForStudents: http://l.prageru.com/29 SgPaX. JOIN our Educators Network! http://l.prageru.com/2c8vsff. Script:. There has actually been a great deal stated as well as a great deal blogged about revenue inequality– concerning exactly how unjust it is that a couple of individuals are extremely abundant et cetera people aren’t; that the revenue space in between the well-off as well as also the middle-class, not to mention the bad, is so huge. There’s just one issue with this grievance. It’s incorrect. Income inequality is really a good idea– when it is the item of a free enterprise economic climate. And your very own life verifies it! An economic climate is comprised of numerous people choosing concerning their very own lives– where as well as just how much they intend to function, what they intend to acquire, and so forth. You are just one of those people. In a nation like the United States, you are cost-free to go after a course in life that you think finest fits your abilities. That skill may be training, or making songs, or financial, or beginning a local business, or increasing a family members. Whatever it is, this liberty assists to make life delightful, interesting as well as purposeful. But it’s likewise an expression of inequality. This is merely due to the fact that we’re all various. We have various abilities, various characters, various aspirations. That’s alright due to the fact that– once more in a complimentary culture– we can look for chances that play to our individual toughness; that differentiate us from others. If you locate what you’re truly efficient as well as strive, you could have excellent success as well as make a great deal of cash. If you’re an impressive professional athlete, I’ll acquire a ticket to see you play. If you’re a wise financier, I’ll offer you a few of my cash to spend. As long as you have the liberty to direct your very own fate, you have an opportunity to reach your complete possibility– attaining success, nevertheless you specify it. But if a person, state, a federal government politician, informed you that your passion had restrictions, that there was a ceiling over which you might not climb, I question you would certainly more than happy concerning it. You would certainly seem like you remained in a straightjacket. Forced equal rights implies much less possibility to seek what makes you separately excellent. But what concerning the expanding space in between the abundant, the 1%, et cetera people, the 99%, that a person listens to a lot concerning? Isn’ t that a negative point? Again, the response is no. Here’s why:. In a free enterprise economic climate individuals prosper making what the abundant take pleasure in today right into something virtually everyone can take pleasure in tomorrow. The abundant are the examination purchasers. Consider the cellular phone. Now all of us have them, yet when Motorola produced the very first one in 1983 it was the dimension of a block, had a half-hour of battery life, function was awful, as well as phone calls were extremely pricey. It price $4000 But if nobody had actually acquired that $4000 block, there would not be a $40 cellular phone today. In the 1960’s a computer system price over a million bucks. Nowadays, many thanks to billionaires like Michael Dell, we have exceptionally sophisticated computer systems that cost us a couple of hundred bucks. Remember what an ideal deluxe level display TELEVISION’s as soon as were? Only the abundant might manage them. Today your living-room is basically your very own exclusive movie theater. The free enterprise has to do with transforming shortage right into wealth. What was as soon as readily available to minority is currently readily available to the numerous. Wealth inequality is an essential effect to that reality. For the total manuscript, browse through https://www.prageru.com/videos/income-inequality-good.
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42 COMMENTS

Красноводский - posted on July 4, 2019 3:41 am

$ 1000(genuine cost of production) + $ 1000(taxes) + $ 2000(a mark up, given it's a 'luxurious good') = $ 4000 The thing is that the price of that cellphone with the size of brick doesn't come from the genuine cost of production, but from the fact that there are those able who can afford it ! That is , had there not been those ables, the cost of it would have been decent, at least affordable for high-middle class people ! Folks, be critical before liking this video for 18K times. With all due disrespect, I desmise liers and thieves !!!

anglekan - posted on July 5, 2019 4:03 pm

Why does it cost $2,300 for renouncing U.S citizenship? I thought it was the best nation, what happened?

Ruan Dos Santos Fragaio - posted on July 8, 2019 7:37 pm

Look on the bright side, my income inequality made me who i am

Jeffrey Morton - posted on July 13, 2019 10:39 am

The average American doesn't really care who's rich or who's poor, as long as there's a level playing field. Therein lies the problem…

Alex P. - posted on July 14, 2019 7:57 pm

'Wealthy people became wealthy because they have more money than I do'
Bruhhh…

Kaleo Mariz - posted on July 17, 2019 3:38 pm

"If you're a good athlete I'll pay good money to see you. If you're a good investor, I'll give some of my money for you to invest"

Then I remember the Kardashian girls. "If you have sensual sexy female bodies I'll pay money to gaze upon them". ?? And that's how they got into the super-rich club.

Miles Gantcher - posted on July 19, 2019 2:34 pm

The problem is that rich people have kids who are automatically rich without doing any work to deserve that money. Those rich kids go to expensive schools without debt and are set up for a life in the top 20 percent.

William Hild - posted on July 19, 2019 11:04 pm

My message to the world:

"Live life by the B.E.A.C.H." :

Benevolence

Empathy

Altruism

Compassion

Humanitarianism

Reject greed, selfishness, and the need to dominate, control, and subjugate others. We can have a great world for ALL of us. All we need to do is…

"Live life by the B.E.A.C.H."!!

Blank Blank - posted on July 22, 2019 2:29 pm

Good points. But if too many people aren’t attaining the American dream, that’s not good for anyone. It’s good that rich get to keep their fair share, but how about putting global market dominance on hold for a little and investing in preventing a class revolution.

Alan Parson - posted on July 22, 2019 11:32 pm

As a notable Lesbian Dance Theorist for world-renowned news company, BuzzFeed, I say that this video actually makes a lot of sense.

Vas maka - posted on July 23, 2019 12:31 am

My problem is not as much the self made multimillionaire. My problem is the next generation. What does next generation offer to society so they can live all their life in luxury? Isn't this a lack of motivation for them to work in their lives??? Also, talk should be made about the tax treatment of labour and tax treatment of rich enterpreneurs and investors….What about all those offshore tax havens???

drescj - posted on July 23, 2019 7:53 am

So when you say the US economy is a free market, are you intentionally lying or are you just an idiot?

Brendan Heinze - posted on July 24, 2019 3:27 pm

I couldn't have imagined a more stereotypical brainwashed ultra right wing response in my worst nightmares. It's almost textbook.

A-M n - posted on July 27, 2019 10:17 am

What? Dumbest argument ever ..first nearly half of all wealth is inherited…Plus we have a system that allows the rich make
Money off money itself….Most rich people make money off investments in stocks and bonds which are taxed at a way lower rate than wage based income ..which is the number one way rich ppl getaway with playing less taxes …high income earners pay 40% tax on real physical work while ultra wealthy only pay 15% tax on there investments which required no work…Plus all the ways corporate interests, banking and states squeeze lower income people …His whole arguement is income inequality is good uhhh because “technology “ improves overtime ??? Soo dumb…Right wing economic arguments are sooo weak .

walkman4201 - posted on July 30, 2019 8:19 pm

the problem is a lot of the wealthy aren't competing in a free market, they lobby to make it impossible to compete and gain an unfair advantage in a market that is not free, they are getting richer and you can't start a business to compete because of big gov keeping out the competition and the consumer loses

Chronic Randomness - posted on August 3, 2019 7:51 am

What about the 1% rich?
The answer is no.

TknUdwn - posted on August 8, 2019 9:35 am

CRONY Capitalism is the problem here

Brett Johnson - posted on August 11, 2019 6:42 am

In equality also dramatically effects the influence sources of lobbying. If 1% have all of the lobbying money then it becomes more likely that the lobbyists will lobby for the 1% or who pays them. Remember companies have a fiduciary requirement not a socially moral requirement, to shareholders

Zodiark 77 - posted on August 14, 2019 7:38 pm

"The Free Market is about turning scarcity into abundance."

Which then causes Lenin's theory, the Crisis of Capitalism'. Supply becomes too great by comparison to demand. This brings on a recession and the 'free market' collapses, causing unemployment and inflation to skyrocket.

What PragerU is advocating is literally what caused the Great Depression.

Daniel Malloy - posted on August 17, 2019 1:54 pm

blah, blah blah, take a walk down skid row and talk this sh_t

troublebruin - posted on August 18, 2019 9:13 pm

Normally a big fan of Prageru. Robert Reich’s production on this rings truer. The idea that there will be income inequality seems reasonable. The issue is that the corporate interests and the political lobbyists have systematically squeezed the middle class for the last 30 years and it is only getting worse. This topic needs a deeper dive than what is related in this video….

tediious - posted on August 22, 2019 2:50 pm

Capitalism leads to oligarchy. It cannot and never will work. It's a fact.

Jesteria78 - posted on August 22, 2019 11:36 pm

So much nonsense in one video. What a bunch of total crap.

Joshua Skoczylis - posted on August 25, 2019 4:41 pm

This is a bunch of rubbish based on ideology rather than evidence. All that inequality does is suck up cash from then bottom rather than trickle down.

kepstein8888 - posted on August 25, 2019 10:53 pm

The technology widget argument is a common diversion. Who cares about cell phones and big screen TVs when the 99% can't afford housing or health care?

tenchimuyo69 - posted on September 16, 2019 10:47 am

I mean, I can see a case for some inequality in finance since a streetsweeper obviously shouldn't make as much as a doctor and the expense that a government can potentially exert based on where one lives is not going to be very balanced because some places on the planet or even just America are not very habitable for people without great living expense. (Sorry California and Texas)
But there is no way that the 1%… actually its like 0.1% at this point, having so much that they can control the government. Hell, even Republicans and cultural conservatives are at their mercy.
Ever wonder why paying taxes is a bitch? A taxfiling company paid the government to make it so. That's all we expect from the wealthy now. They seldom actually use the money to make things better and tend to actually do the opposite by asking the government to pressure us to use your products.
If nothing else, I think banning bribery… uh… lobbying would at least be a decent step to making sure that the government cannot enact policy against the poor. At least then, a capitalist might actually have incentive to put out a superior product.

Barry Leung - posted on September 16, 2019 1:48 pm

I bet this guy wouldn't say the same thing if he were the bottom 50 percent.

Lyman Blakeman - posted on September 16, 2019 2:43 pm

This is idiotic. Yes you can have inequality, but we're SO far past inequality in our country's wealth. We are now in a state were anyone holding a career job can be labeled a WAGE SLAVE, because they're not rich enough to live a good life and pay for what they need for it, they are instead swamped by new demands (health insurance $1000/month anyone) living paycheck to paycheck, and without the freedom to move upward from that position. The educated career worker is no longer making the money he/she needs, let alone the uneducated, unskilled laborer who is forced to find multiple methods of income. THIS IS NOT SUSTAINABLE! Corporations continue to increase income for executive positions, but the worker they are making all their money from hasn't increased his/her salary from the 1980's.

This leads to one inevitable outcome, heads will roll one day in America because of the poverty Capitalism has made a reality.

Erik Zámečník - posted on September 18, 2019 10:27 am

You say, that income inequallity is okay, because it is based on free market economy. But invsetors and corporations like Amazon pay zero taxes. Employers pay highest taxes. In fact, when you have a lot of money, then you can make more money a bit easier.
You represent old world, but you did not assume, that world has changed. Our financial system is old and inefficient and that’s core of problem. But we already have a good alternative to old financial system. It is decentralized cryptocurrency, that nobody will have control over.

As a politician that wants to work for the people and free market economy, you would support idea of changing this financial system. Conservative mean stupid for me sometimes (sometimes). By the way, I am so sorry for my bad english, still trying to get better.

GOD OF THUNDER - posted on September 19, 2019 8:16 pm

Nopeeeeee

CoolToaster - posted on September 20, 2019 12:54 am

I find it very funny that socialists and marxists say how bad capitalism is but they still use their smartphones and laptops that competition in a free economy created.

1one1won - posted on September 22, 2019 6:58 pm

Bottom 50% are looking at top 1% but top 1% is also looking up! People who work hard to improve themselves are already top 1%

StirCrazy - posted on September 24, 2019 3:12 am

Healthcare needs to open up to the free market. Any time Govt. attempts to control anything they seem to screw it up.

carstereobandits - posted on September 24, 2019 5:26 am

Invest in guillotines, it's an untapped market that's about to explode.

Anisa Malik - posted on September 26, 2019 5:28 am

Yeah we love to believe in meritocracy don't we? You get what you earn right? And that's fair and that's just because we're all inherently different and so we deserve different things correct? Wrong. Capitalists want us to believe this and we do under class consciousness. This video speaks with the assumption that we have equal opportunity. There is no consideration of privilege. Within the U.S.: white privilege? male? economic? etc. and not to mention global inequality. Imagine trying to argue this theory globally. That a child born in poverty in the developing world could really get where a rich white college boy could in life if they were to "earn" it. The circumstances under which we are born is arbitrary. Meritocracy is a myth within a capitalist society.

Antoine Van Dyke - posted on September 27, 2019 5:35 pm

Income inequality is good to AN EXTENT. I think people should always be able to generate as much profit as they can to improve their lives. BUT I dont think it should be at the expense of the poorest of the poor. For example, I really wouldn't care how much Jeff Bezos or Amazon makes in profit a year if they were to pay their fair share of taxes. If they did then they could get as rich as they want but it wouldn't be at the expense of the little guy since there would still be ample funding for education and social programs, which perpetuate our idea of fairness of opportunity, not outcomes.

Duhizy - posted on September 28, 2019 6:51 pm

If both communism and capitalism worked as their founders thought that they would, we wouldn't be having this discussion. Both Adam Smith and Marx would roll in their graves if they knew the extent to which the systems that they created were being misused for political and economic gain. Smith would not have approved of this level of income inequality, he absolutely hated the idea of high corporate profits because it meant that the system had failed to provide the necessary competition for the wealth to be distributed more evenly. Marx, on the other hand, offered a stupidly simple critique of capitalism and what should be addressed to end exploitation, which was then cooped by Stalin, who created what we now largely refer to as communism. We are being tricked by interest groups into thinking we are on one side or the other, but our mainstream understandings of the systems are meant to look like are often completely contrary to what the originators had in mind.

A Olvaar - posted on September 29, 2019 1:25 am

Hypothetical: You discover a pill to cure cancer and rather than taking a large lump sum.
You crunch the numbers to charge people an amount that maximizes PROFIT, leaving Millions to die
for lack of money.

Deepak k - posted on September 29, 2019 5:14 am

Dislike are from f**king socialists

Alleyup1994USA - posted on September 29, 2019 9:03 pm

So many freeloaders in the comments

Daniel Beuthner - posted on October 2, 2019 9:21 pm

nobodys free under capitalism, i cant follow the path i want to follow because ill have no goddamn money, and my life would be miserable, how is that free?

ユーネ / Yuune - posted on October 9, 2019 4:09 pm

clown video made by clowns


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