Great video for refuting nonsense from progressives, leftists and unionists.
excellent video, thanks for sharing
bump
Yes, great video!
"Eat the Rich, Kill the Economy"
or maybe
"Eat the Rich, Bankrupt Everyone"
Good video, btw.
Political Atheists Blog
They always commit the fallacy of confusing money and wealth. Money is just a convenient intermediary. Real wealth is stuff, goods and services. And they require resources to be created. The problem isn't that we don't have enough money, the problem is that we don't have enough productivity to produce the goodies people want. They think if we only expropriate enough money from the rich we can afford the social services they want, but expropriating the rich does not release a lot of resources into the economy. Resources don't appear out of thin air because we found a way to come up with enough money to pay for them. This should be obvious. They're not really denying basic economics, they are denying basic physics.
Mmm good video, even though doesn't he double count because they already confiscated all of the money of everyone with more than 250 K before attacking the millionaires?
Ill defiantly be using this video, I just wish it wasn't quite so partisan.
Neodoxy:Mmm good video, even though doesn't he double count because they already confiscated all of the money of everyone with more than 250 K before attacking the millionaires?
I think these were only the incomes. When he gets to the millionaires again they took their savings. But what confuses me. If they take all profits of the top 500 companies, then they already take income of people away. I mean the profits are also someone’s income, aren’t they? Also the profits of Star Wars etc have been someone’s income. So it would mean double counting there if you take everything above 250K income and the profits made through companies. Can someone confirm this?
But definitely great video! Thanks for sharing!
Why does he toss in the military budget/war budget?
Because he is a pro-mass murder nationalist right winger. But other than that, the video is pretty good.
At least you know now that you work for a month to pay for the wars in Iraq and Afghanistan.
liberty student: Because he is a pro-mass murder nationalist right winger. But other than that, the video is pretty good.
Yeah I found the minimization of the costs of the Aghanistan and Iraq wars to be rather disingenuous. It detracts from the larger point unless you're preaching to the Republicrat faithful.
Clayton -
"I think these were only the incomes. When he gets to the millionaires again they took their savings. But what confuses me. If they take all profits of the top 500 companies, then they already take income of people away. I mean the profits are also someone’s income, aren’t they? Also the profits of Star Wars etc have been someone’s income. So it would mean double counting there if you take everything above 250K income and the profits made through companies. Can someone confirm this?"
Pofits are not normally someone's income besides those of the stock holders and alloted bonuses unless the company is owned by a single person, he was probably just talking about how much say the CEO's are paid anually regardless of how large the profit margines are. If I am a CEO then I have a set salary plus whatever I get in bonuses which are sometimes based upon profits
The best thing though is that if he is double counting then the real number could only be smaller than if he didn't double count...
The argument that society (whatever this means) will be better off if all of the rich people's wealth is taken away from them is one that indicates a complete lack of understanding of:
1) the fundamental condition species live in, i.e., relative scarcity
2) capital and capital structure
If Michael Moore or Anjelina Jolie are given the exclusive power to act upon their wish to make "us" better what will follow in a very short period of time will be this: complete starvation and massive death.
The costs of Iraq and Af-Pak did seem a bit low. The video was good.
Iraq and Afghanistan are more expensive unless he's counting the cost of them currently on a yearly basis. In 2003-2004 Iraq and Afghanistan cost a helluva lot more than what he quoted.
He actually does a lot of double counting, which is a good thing because it means the real numbers would be even less.
Isn't GDP something like 4 times the budget deficit though?
Neodoxy:Pofits are not normally someone's income besides those of the stock holders and alloted bonuses unless the company is owned by a single person, he was probably just talking about how much say the CEO's are paid anually regardless of how large the profit margines are. If I am a CEO then I have a set salary plus whatever I get in bonuses which are sometimes based upon profits
Since those profits are for sure after tax, the part that was reinvested was already deducted as further expenses before. What else can you do with profits than reinvest and pay out?
Neodoxy:The best thing though is that if he is double counting then the real number could only be smaller than if he didn't double count...
Yep, makes it even better :) It has already over 113,000 views in 4 days, not bad.