Current Events > Richard Wolff's Economic Update for the week 25/02/2018

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Omnislasher
02/25/18 5:40:27 PM
#1:


https://www.youtube.com/watch?v=9THklLyPAVM


topics:

-Oxfam recent reports on global inequality
-Leslie Wexner
-immigration economics (11:45-16:05. recommended)
-impact of the recent tax cuts by class (17:27-22:08. recommended)
-Sam Brownback's Governorship
-Larry Nassar scandal (college as business)
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Omnislasher
02/26/18 2:35:20 AM
#2:


bump for my old favourite, late night CE
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Omnislasher
02/26/18 12:33:11 PM
#3:


happy monday
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Omnislasher
02/27/18 1:47:43 PM
#4:


Tuesday
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Omnislasher
02/28/18 9:24:56 PM
#5:


next day
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Omnislasher
03/01/18 2:45:02 PM
#6:


just 3 days 'til the next one
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Omnislasher
03/02/18 2:57:14 PM
#7:


Weekend is here
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Omnislasher
03/03/18 4:37:53 PM
#8:


Everyone excited for tomorrow's update?
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Sephiroth1288
03/03/18 4:41:12 PM
#9:


Omnislasher posted...
-impact of the recent tax cuts by class (17:27-22:08. recommended)

"The people who pay 80% of the Federal budget will get a bigger numerical tax cut than people who pay almost no tax!"

Yeah no shit. That's how percentages work.
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Omnislasher
03/03/18 5:32:34 PM
#10:


lol
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Omnislasher
03/03/18 5:41:49 PM
#11:


"gross inequality is a good thing" - some guy on CE

quotation marks are fun

here are some actual quotes:

"If you earn less than $25,000 a year ... the tax cut will save you ...sixty dollars."

"If you earn between $25,000 and $49,000 a year, it will save you $360."

"If you earn over $3.4 million, you will save nearly $200,000."

"Because you have to remember that when they cut all those taxes that don't have to be paid, particularly not by rich people, the next step is to say the government, not getting all that money from people, will not be able to fund a whole lot of programs: for school kids, for road maintenance, for college educations. We're gonna have a season of cutting, because there isn't enough money, because they cut taxes, above all on the rich. So you're gonna not get the benefit of the tax cut, but you are likely going to pay the cost of the tax cut, which is in the reduction in the quality and the quantity of public services in the United States, which lower and middle income rely on more than the folks at the top."
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Sephiroth1288
03/03/18 5:58:04 PM
#12:


Omnislasher posted...
"If you earn less than $25,000 a year ... the tax cut will save you ...sixty dollars."

"If you earn between $25,000 and $49,000 a year, it will save you $360."

"If you earn over $3.4 million, you will save nearly $200,000."

Sephiroth1288 posted...
Yeah no s***. That's how percentages work.


Omnislasher posted...
"Because you have to remember that when they cut all those taxes that don't have to be paid, particularly not by rich people, the next step is to say the government, not getting all that money from people, will not be able to fund a whole lot of programs: for school kids, for road maintenance, for college educations.

What kind of gullible do you need to be in order to believe that road maintenance makes up a significant portion of our budget

Also, the US already pays more for education per capita than any other country in the world. Maybe a little rollback would be a good thing.
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Omnislasher
03/03/18 6:08:02 PM
#13:


as districts all over the place are switching to a 4-day school week to cut costs

sure why not
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Sephiroth1288
03/03/18 6:11:23 PM
#14:


Omnislasher posted...
as districts all over the place are switching to a 4-day school week to cut costs

sure why not

Despite our education budget being way higher per person than any other country's...

Gee, it's almost like the problems with our education system aren't related to how much money they have. Maybe they're just horribly mismanaged?
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Omnislasher
03/03/18 6:16:42 PM
#15:


hey, abnormally large expenditure with abnormally poor outcomes.. sounds just like the health care system

you're right, something is definitely going on here
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Sephiroth1288
03/03/18 6:22:22 PM
#16:


Omnislasher posted...
hey, abnormally large expenditure with abnormally poor outcomes.. sounds just like the health care system

you're right, something is definitely going on here

It unquestionably has nothing to do with an insufficient budget, though. Unlike what Wolff seems to think.
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Omnislasher
03/03/18 6:26:03 PM
#17:


"when they cut all those taxes that don't have to be paid, particularly not by rich people, the next step is to say the government, not getting all that money from people, will not be able to fund a whole lot of programs"

bottom line end of story everyone knows this
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#18
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Sephiroth1288
03/03/18 6:46:51 PM
#19:


Omnislasher posted...
"when they cut all those taxes that don't have to be paid, particularly not by rich people, the next step is to say the government, not getting all that money from people, will not be able to fund a whole lot of programs"

Oh noooo, not the programs that are already more heavily funded than any other country on the planet with better test scores than ours!

Money isn't the issue with education or healthcare. Let's get that clear.
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#20
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Omnislasher
03/04/18 3:28:38 AM
#21:


this is it, you guys
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