Jan 31st, 2019
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  1. democratic socialism seems to be a very
  2. hot topic lately I want to make
  3. something very clear right off the bat
  4. for those of you who support democratic
  5. socialism I'm very sympathetic to many
  6. of your grievances and even your
  7. intention I understand just as well as
  8. you do that the system is flawed and
  9. many things need to change the problem
  10. is democratic socialism is gonna take us
  11. in the wrong direction and give us more
  12. of the same
  13. and that's coming from somebody who's
  14. neither a Republican or a Democrat this
  15. is a very in-depth subject but for the
  16. sake of this video I'm gonna focus on
  17. three major flaws with democratic
  18. socialism style over substance the
  19. fallacy of the higher tax rates and the
  20. fundamental flaw with government all
  21. sources will be in the comment or the
  22. description below alexandria Ocasio
  23. Cortez has rocket to stardom as the new
  24. Supreme Leader I mean the face of the
  25. democratic socialist movement
  26. [Music]
  27. I think one of the big reasons why
  28. democratic socialism has gotten so
  29. popular is on the surface it sounds
  30. great we need to make public colleges
  31. and universities tuition-free healthcare
  32. as a human right that every child no
  33. matter where you are born should have
  34. access to a college or trade school
  35. education if they start I think that no
  36. person should should be homeless if if
  37. we can have public structures and in
  38. public policy to allow for people to
  39. have homes and food and lead a dignified
  40. life in the United States I believe that
  41. in a modern moral and wealthy society no
  42. person in America should be too poor to
  43. live nobody should be too poor to live
  44. what does that mean and how do you
  45. actually accomplish it that's like me
  46. saying nobody should have to die from
  47. gravity related causes in theory I agree
  48. with it but how realistic is it and how
  49. could you implement it it's important to
  50. remember that poor is a very relative
  51. term in 1820 94% of the world lived in
  52. poverty and 84 percent lived in extreme
  53. poverty 200 years later those numbers
  54. have plummeted and study after study
  55. shows capitalism has lifted nearly a
  56. billion people out of poverty in the
  57. past 20 years and if you think about it
  58. it makes perfect sense look around at
  59. everything that contributes to your
  60. quality of life and your standard of
  61. living I'd be willing to bet almost
  62. everything is provided by a private
  63. company in the free market versus the
  64. government now I know what you're
  65. thinking government provides us with
  66. essential services like more roads
  67. that's a video for another time but
  68. trust me when I say that if the
  69. government didn't have a monopoly on
  70. things like roads private companies that
  71. can land rocket ships vertically could
  72. do it much more effective at a cheaper
  73. cost do we live in a moral world that
  74. allows for billionaires is that a moral
  75. outcome if somebody says it's immoral to
  76. have billionaires in our society shows
  77. me a complete lack of economic
  78. understanding billionaires billionaire
  79. billionaire billionaire billionaire
  80. Killian a zillion ass billionaires
  81. I am not a billionaire I think one of
  82. the things Democratic socialists don't
  83. understand is that wealth is not a
  84. finite amount just imagine how much more
  85. wealth we have today versus a hundred
  86. years ago or two hundred years ago or
  87. five hundred years ago if a person
  88. becomes a billionaire legitimately by
  89. offering a product or service to the
  90. market what people don't understand is
  91. the wealth they create for everybody
  92. else
  93. dwarfs the amount of wealth that that
  94. billionaire has themselves Steve Jobs is
  95. a perfect example this before he passed
  96. away he was worth about ten billion
  97. dollars Apple's current market cap is
  98. 750 billion dollars think of how many
  99. jobs Apple has given to people think of
  100. how many families have been supported by
  101. Apple how many people's lives have been
  102. improved by what Steve Jobs and Apple
  103. did last time I checked millionaires and
  104. billionaires provide a lot of jobs
  105. millionaires and billionaires at the
  106. same time imagine if I could go back in
  107. time to 1820 and offer 94 percent of
  108. those people living in poverty
  109. today's quality of life and living
  110. standard there's just one condition they
  111. could have this newfound quality of life
  112. an upgraded standard of living but there
  113. would be some people that would have
  114. even more than them do you think they
  115. would have accepted this deal of
  116. upgraded living standard even if some
  117. people had a lord lavish lifestyle than
  118. they did of course of course of course
  119. of course if you really cared about
  120. people in poverty you to allow
  121. capitalism to continue to do its job and
  122. I am in no way saying that there aren't
  123. problems or rooms for improvement
  124. however the most serious issues we have
  125. right now stem from government having
  126. too much power when the government has
  127. power companies and corporations will
  128. always exploit that power to their
  129. advantage including the government
  130. people always say that real socialism
  131. hasn't been tried well if that's true
  132. capitalism hasn't really been tried the
  133. difference is almost capitalism has
  134. raised billions out of poverty while
  135. almost socialism has killed and
  136. impoverished millions the myth about the
  137. 70 percent tax rate coming from
  138. democratic socialists like Bernie
  139. Sanders and Alexandria Cortez is one
  140. that needs to be debunked right away
  141. this kind of tax rate was the norm up
  142. until the early eighties and why is it
  143. was this is not a new idea under
  144. Republican President Dwight Eisenhower
  145. 90% marginal tax rate well the idea here
  146. is that the government took in much more
  147. tax revenue rich people didn't make as
  148. much and poor people were helped more
  149. because the government had much more
  150. money it only takes five seconds to
  151. research this to see that the truth is
  152. much different than initial perception
  153. the reality is while tax rates were very
  154. high very few people actually paid that
  155. rate back then nearly everybody filed as
  156. a corporation and almost everything was
  157. deductible federal tax revenues have
  158. stayed consistent since 1946 averaging
  159. at nineteen point five percent of GDP
  160. regardless of the wild fluctuations of
  161. the marginal tax rate this is known as
  162. Hauser's law it's important to note that
  163. even when the marginal tax rate was 92%
  164. governament
  165. revenue essentially stayed flat what has
  166. chases the 50s is the rich have been
  167. paying a higher and higher percentage of
  168. revenue in taxes so when Alexandria
  169. Acacio Cortez says that the rich need to
  170. pay their fair share I'm just over here
  171. like I don't know what the you're
  172. talking about let's look at what
  173. happened more recently when a country
  174. implemented a 75% tax rate that couldn't
  175. be avoided with loopholes and deductions
  176. in 2012 the Socialist Party in France
  177. slapped a 75% tax on people that make
  178. over a million euros a year almost
  179. instantly government revenue fell and
  180. economic growth was hindered while 2.5
  181. million people fled the country to go to
  182. other places that didn't have such a
  183. high tax rate investment capital went
  184. elsewhere and economic growth continued
  185. to stagnate three years later in 2015
  186. the policy had been such a disaster that
  187. it was repealed and the tax rate was
  188. brought down to a normal 45 percent
  189. level but the truth of the matter is we
  190. have a spending problem not a revenue
  191. problem you could take every penny from
  192. every millionaire in billionaire in this
  193. country and you'd have roughly true
  194. trillion dollars or currently what the
  195. government spent in six months in 2018
  196. you could talk about tax the rich all
  197. you want but it's not gonna fix the
  198. problem I want to point out that she's a
  199. socialist she wants senators on tax
  200. rates those are both accurate right the
  201. fundamental flaw with democratic
  202. socialism is the same flaw with
  203. government you're putting your faith and
  204. power in an institution that has proven
  205. to be incompetent time in time again in
  206. oftens corrupt generally speaking the
  207. government does not create wealth it
  208. merely redistributes it or destroy
  209. all organizations entities and
  210. businesses have a natural instinct to
  211. expand and grow the difference between a
  212. private company and government is
  213. private companies have to expand by
  214. voluntary transaction while governments
  215. can expand through coercion and force
  216. liberals sometimes understand this
  217. concept years ago the California
  218. corrections officer union actually lobby
  219. for what is known as the three-strike
  220. rule which at the time meant getting
  221. caught with marijuana three times in a
  222. row could potentially mean a life
  223. sentence now why would a union want to
  224. lock somebody away for possession of a
  225. plant simple its power control job
  226. security and growth I may not like some
  227. of these big corporations but at least I
  228. can voluntarily do business with them
  229. and they definitely can't throw me in a
  230. cage for smoking a plant the issue with
  231. democratic socialism is it's going to
  232. end up hurting the very people it's
  233. intended to help which are the middle
  234. class and the poor every year the
  235. government continues to spend more and
  236. it continues to grow out of control via
  237. taxes regulations and laws I'd argue one
  238. of the main reasons the middle class and
  239. the poor are getting squeezed has to do
  240. with the never expanding role of
  241. government in our lives every time the
  242. government grows it has to be paid for
  243. one way or another and it does that by
  244. taking money out of the private sector
  245. to pay the public sector where do you
  246. think that wealth came from did it come
  247. from government or did it come from the
  248. private sector
  249. the real solution here is to shrink the
  250. size of government and bring this
  251. country back to the principles that made
  252. it wealthy in the first place
  253. backwards in the PLR we the ceiling
  254. really no matter what hey guys hope you
  255. enjoyed the video thank you so much for
  256. watching I'd like to give a shout out to
  257. all my patreon members if you'd like to
  258. support this video and the videos in the
  259. content that I create then go to
  260. patreon.com/lenguin
  261. talk liberty now until next time
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