The National Debt: Last Week Tonight with John Oliver (HBO)

  • Objavljeno Pred mesecem

    LastWeekTonight

    Trajanje: 22:26

    The national debt has long been portrayed as a burden we’re placing on future generations. John Oliver discusses how national debt works, why people are so concerned about it, and why it might be more helpful that you think.
    Connect with Last Week Tonight online...
    Subscribe to the Last Week Tonight SLkey channel for more almost news as it almost happens: slkey.info
    Find Last Week Tonight on Facebook like your mom would: lastweektonight
    Follow us on Twitter for news about jokes and jokes about news: lastweektonight
    Visit our official site for all that other stuff at once: www.hbo.com/lastweektonight

rbfreitas
rbfreitas

Great video

Pred 3 urami
sarcasmo57
sarcasmo57

Nah, give more money to the rich.

Pred 4 urami
Lucas Bender
Lucas Bender

I used to think this guy was funny. Until I didn't. All of his jokes feel played out. Some of his information isn't entirely accurate either...

Pred 7 urami
Emily Lawrence
Emily Lawrence

Whenever someone says "This isn't racist, but...." it's gonna be racist

Pred 11 urami
av mail
av mail

I'm a lifelong deficit hawk. while teeth grinding at times this piece is largely accurate. Republicans are every bit as much the cause of the deficit, and doomsday economists have been dead wrong on predicting inflation. That said when Inflation does hit, the solution will be painful and there is not enough wealth in the 1% rich class to take to cover it. We will all have to pay significantly more in taxes, so vote to spend on programs that you believe are worth spending on, not just because you think others will pay for them.

Pred 13 urami
Shanbo26
Shanbo26

Yup, right on cue. As soon as the Republicans aren't in office, the deficit suddenly becomes a problem.

Pred 13 urami
Tejhunn Ramchurn
Tejhunn Ramchurn

https://youtu.be/2ZUCemb2plE

Pred 16 urami
Insomniac Tom
Insomniac Tom

Thats great and all but what about the 4 million unfilled US jobs that are just sitting there pretty much asking to be taxed at a reasonable rate? Well why would anyone go to work when their stimulus checks earn them more than those job would earn? Why is your government now that Orange Man Bad is gone still printing money and giving it you so you dont go to work?

Pred 17 urami
Mary Lowther
Mary Lowther

Isn't it amazing how the Republicans scream about the debt the second a Democrat is in office but spend like wastrels the second they are in the White House? Reagan, Bush 1 and 2 and especially Trump squandered tax dollars as if they grew on trees and the GOP were silent about it, and once again they howl like banshees about Biden. These people deserve to be locked in an elevator with a fraying cable.

Pred 18 urami
TheEpicGameHub
TheEpicGameHub

My brain automatically ignores anything that comes out of the mouth of any Republican. They are hypocrites and simply stupid so listening to anything that comes out of their mouth just reduces your intelligence over time. Ignore them. Easy solution.

Pred 20 urami
tmokleby
tmokleby

This video will age badly.

Pred 21 uro
Very Anonymous
Very Anonymous

Hey, let's cut taxes to the rich so that after they've bought all the useless crap they don't need they can then invest the rest in the Bank of the American Government which is in desperate need of money now that it has lowered taxes. Seems to me that it's a system of allowing the rich to own the USA several times over and hover up all the remaining wealth of the poor through taxes used to make up the loan repayments due. Anything other than taxing the rich hard is just stepping on your own tail in terms of lowering the national debt.

Pred 21 uro
Abby Dabbs
Abby Dabbs

Everytime I see Ted Cruz on this show I get exited now

Pred 23 urami
Bernard Kerman Adventures
Bernard Kerman Adventures

Remember when this show was funny?

Pred 23 urami
K M
K M

The first thing America and Britain need to do is to get rid of the Murdoch Empire! The insane hypocrisy and double standards by their minions need to stop.

Pred dnevom
Matt Mosley
Matt Mosley

National debt: Terrible when Republicans are in... A smart investment when Democrats are in 😉 Increasing the money supply = ROBBING people of the worth of their current cash via #Inflation How about paying all those contractors paid to rebuild OTHER countries after wars to rebuild YOUR OWN country?

Pred dnevom
seigeengine
seigeengine

I love how you're literally trying to project Republican's hypocrisy on the national debt, despite that making zero fucking sense. Couldn't be more classically right-wing though. That's literally your only tactic these days.

Pred 16 urami
CrazyTown Bros
CrazyTown Bros

Suck it John. You are just an entertainer. No expert on economics. Stick to singing and dancing.

Pred dnevom
Corey Thomas
Corey Thomas

So stimulus cheques to foreign nations (Egypt, El Salvador, Guatemala, etc.) is a great investment? Yes, USA congress did this last year. Cool. Cool. Cool. Just wait until your fiat becomes worthless because you print it like nothing else. The USA is in the 6th stage of the 7 stages of an Empire. The 7th stage is not fun.

Pred dnevom
Pēteris Krišjānis
Pēteris Krišjānis

Cue all trickle down bros moaning, which is essentially boils down to "no, I got all the money and I won't pay for poor people so I will invent whatever economic theory I want to justify it"

Pred dnevom
Zz814 Zz
Zz814 Zz

The national debt equates to private sector surpluses. So essentially when you preach austerity you are simultaneously saying you want to eliminate private sector profit. #learnMMT #MMT #EachOneTeachOne

Pred dnevom
J Bryant
J Bryant

HBO, a well known unbiased intellectual resource, gives you all you need to know.

Pred dnevom
Darren Steven
Darren Steven

Nice work. The bit at the end really nailed it

Pred dnevom
Govi Modo
Govi Modo

They “care” about kids futures for debt but not climate change

Pred dnevom
Stewart de Visser
Stewart de Visser

If the american and for that matter Australian governments invested in bitcoin then maybe we wouldn't have debt now lol......... crap if I had of invested in bit coin I'd have no debt now, but I am still to afraid to risk my money lol

Pred dnevom
Adam Kuc
Adam Kuc

Google MMT :)

Pred dnevom
Hashirama Senju
Hashirama Senju

19:10 i was worried that my wife would get jealous so. This one is to replace my wife. Perfect

Pred dnevom
Ian Baker
Ian Baker

Umm no it is

Pred dnevom
Ian Baker
Ian Baker

Very true

Pred dnevom
Ian Baker
Ian Baker

You dumb shots want to give money away to everyone

Pred dnevom
Ian Baker
Ian Baker

And that’s why you are a mouth poece

Pred dnevom
Ian Baker
Ian Baker

Annnddd....?

Pred dnevom
Ian Baker
Ian Baker

Ummm did you forget we were attacked!

Pred dnevom
Ian Baker
Ian Baker

You are a race batter

Pred dnevom
AlonditeMX
AlonditeMX

Here's a fun fact: The _interest payments_ on the debt are greater than the _entire sum_ of the federal government's collected tax revenue. It doesn't matter if the majority is owed to the US people beyond those who actually own the federal bonds; you still need to pay taxes, and literally every penny you give them gets flushed down the toilet to finance an ever-increasing debt that nobody is doing anything about. But we don't need to eliminate the debt, we just need to be able to finance it while not running a deficit. But that will never happen because federal legislators are _entirely_ self-serving, and eliminating debt doesn't benefit them because they're playing with other peoples' money anyway. And this part is even more fun: In the like 60-70 years or so that the IRS has been tracking federal finances, raising taxes has, _not even once_ resulted in a statistically significant increase in tax revenue, regardless of tax rate (even with rates as high as 90%); they typically collect about 17% of the GDP (+/- 1-2%) in tax revenue. More than that, though, there's actually a _negative_ correlation between tax rates and federal revenue (particularly when most of the taxes are collected from the wealthy), likely because of the detrimental effect high tax rates have on the market. Sure, you're taking a larger percentage of the pie, but the pie itself is way smaller. So basically, the entire "tax the rich to pay for everyone else" rhetoric is objectively flawed and financially impossible. Cutting expenses (ideally by gutting the federal government) is the _only_ viable solution.

Pred dnevom
seigeengine
seigeengine

@AlonditeMX Except you are. Except they're not. Except the US isn't special. Except I don't resent the wealthy. Except it's not adaptation, but inheritance that predicts such success. There's a reason approximately none of the world's billionaires grew up poor; even the self-made ones grew up in relatively wealthy households.

Pred uro
AlonditeMX
AlonditeMX

@seigeengine Except I'm still not wrong lol. So hate to break it to you, but no face-rubbing; I've done enough legwork over the years to know that I'm not wrong. Unfunded Debts are not future debts. Where in the hell did you pull that from? They are debts the government owes _now_ that are _unfunded_ . So I forgot about them in my OP, sue me; it's been years since I've actually worked with this data. I'm actually using _all_ 2017 numbers. The debts are higher now. All of them. As are the payments. And yet revenue isn't. The US isn't other nations, it's the US. Making logically fallacious apples-to-oranges comparisons to other nations accomplishes nothing. They don't have the US government, culture, or economy and are thus not applicable. Or do you honestly believe that you can just take one complex, dynamic economic system, copy/paste it to another, completely different nation, and expect it to function the same? I can feel your resentment toward the wealthy from here. What's the matter, are you bothered by the fact that other people are massively more well-adapted to succeed in modern human society than you are?

Pred 9 urami
seigeengine
seigeengine

@AlonditeMX As is hilariously apparent, I'm making you do it because you're wrong, and I already knew you were wrong, so I'm forcing you to show your work so I can then rub your face in it. In other words, you're basing it on the hilarious premise of including future debts that may or may not ever actually exist, and then blindly calculating a present-day interest rate on that. That's genuinely insane. Again, completely wrong. This daft notion is demonstrated to be completely false by comparing tax revenue to GDP across countries, where it varies enormously.

Pred 13 urami
AlonditeMX
AlonditeMX

@seigeengine Oh you're right, I forgot about one thing: Unfunded obligations. So the 2.5% interest (totaling about $3.8T) of the $150T of unfunded and debt-related financial obligations is higher than the $3.3T in revenue, for a net $500B loss. And the federal government has additional financial obligations on top of that. As of 2017, which was the most recent data I could find with a quick Google search, which was before trillions more were piled onto the debt in the form of pandemic stimulus packages, so the outlook is even more bleak now. However, one thing remains crystal clear: Higher taxes do not result in higher revenue, particularly when levied against the wealthy. Hell, only like the top 10% of earners even have a net tax rate of over 0%.

Pred 14 urami
AlonditeMX
AlonditeMX

@seigeengine Oh you're right, I had it wrong: It also includes unfunded obligations. So it's not just interest, but also things the government can't fund because of massive debt and fiscal irresponsibility. As of 2017 (the most recent data I can find at the moment) the deficit (not including other funded obligations) was about $500B, or ~$3.8T (2.5% interest of the total $150T) compared to about $3.3T of revenue. However, the fact remains that raising taxes cannot fix it, and the data there could not be any more clear; revenue is practically a straight line as a percentage of GDP regardless of tax rate. And that was in 2017, before trillions more were added via pandemic stimulus packages.

Pred 14 urami
Niko Archer
Niko Archer

“The key to ending inflation is to create a balanced budget” - Ronald Reagan. That’s not now inflation works lol.

Pred dnevom
Donald Kenne
Donald Kenne

Well there is a massive difference between someone borrowing money to make a factory, and government borrowing tons of money. Number one, one is actually intending to produce something. Government produces nothing. It only takes. Government spending also tends to not be efficient in any way shape or form. Also, government revenue never fell under Donald Trump. In fact, it continued to rise, even after the tax cuts. Now, did it rise as much as it might have otherwise? Maybe not. Definitely not like revenue actually fell. Not to mention Americans got to keep more of their money.

Pred dnevom
seigeengine
seigeengine

EH!!!!!! FALSE ON BASICALLY ALL COUNTS.

Pred 16 urami
Kevin Hickey
Kevin Hickey

What does 2 + 2 = ? Mathematician : 4 Statistician : pretty close to 4 Economist: What do you want it to equal?

Pred dnevom
Jennifer Lundberg
Jennifer Lundberg

That would be all well and good if our governments spent the money well. They don’t.

Pred dnevom
Jennifer Lundberg
Jennifer Lundberg

@seigeengine false equivalency but I see your point. I’d be willing to pay Sweden taxes if had people in our government that Spent the money the way Swedes do. Unfortunately our government has shown time and time again that they squander everything given to them.

Pred 15 urami
seigeengine
seigeengine

So change what the government is spending money on? If you use your paycheck to buy weapons to go shoot up a church, the problem wasn't that you got a paycheck.

Pred 16 urami
Roel Martin van der Velde
Roel Martin van der Velde

That John Oliver guy is wickid smaa't

Pred dnevom
ArrZarr
ArrZarr

"Economists really have no fucking idea" could probably be Wall Street's motto if it had any sort of self awareness.

Pred dnevom
ohsosmooth01
ohsosmooth01

I thought the best investment he ever made was that fucking rat painting.

Pred dnevom
Antonio Badillo
Antonio Badillo

"I am not an economist", there you go

Pred dnevom
seigeengine
seigeengine

"I have no actual criticism." There YOU go.

Pred 16 urami
Pat Tanackered
Pat Tanackered

1 in 15 people disliked this video.... I just can't fathom why

Pred dnevom
Jo Hayes
Jo Hayes

A Durst winging about the national debt!!!😂😂😂

Pred dnevom
SheyD78
SheyD78

This is everything that's wrong with the republican stance (*hyperbole included). Crying about spending while giving tax cuts to those who need it least and spending more on the least productive sector of the economy. Yes everyone wants the US military to be strong but the spending is just crazy. I bet most US military who have any knowledge of how the money is spent would agree, so little for so much thanks to corporate shenanigans. I wish I could see a solution. Good luck Biden, you're going to need it.

Pred dnevom
David Riley
David Riley

Money is a lie, anyway.

Pred dnevom
Alexander Robottom
Alexander Robottom

I have a feeling this might not age well...

Pred dnevom
Brian T
Brian T

No mention of 4 key facts: the biggest programs transfer wealth from the young to the old (SS and medicare), there is an additional $120T in unfunded obligations that is as good as borrowed, that much of the debt is funded short-term and the interest rate can rise in less than a year (like a variable rate mortgage), and finally even if we don't know when the economic crisis will happen we definitely know that it will: history is full of countries that have over borrowed and suffered an economic crisis, there's no reason to think US would be different.

Pred dnevom
seigeengine
seigeengine

It amazes me how many words people can spend to say nothing.

Pred 16 urami
Masha V
Masha V

My boy John getting grey awfully quickly

Pred dnevom
somedeveloperblokey
somedeveloperblokey

Who do we all owe this money to? Let's phone them up and say, "No. We're not paying. What the f*ck are you going to do about it?"

Pred dnevom
seigeengine
seigeengine

As mentioned, 2/3 of America's debt is owned to Americans, whether individuals or other entities.

Pred 16 urami
AlchemistsCookbook
AlchemistsCookbook

What's with hating on Elon? You really think HE is the rich person we should tax!?!?!?

Pred dnevom
George Duke
George Duke

Maybe don't spend nearly a Trillion dollars on your shitty military.... might be a start at reducing the debt!

Pred dnevom
seigeengine
seigeengine

To be fair, Oliver is kind of on the side that wants to spend less on the military.

Pred 16 urami
Benedict Claxton Stevens
Benedict Claxton Stevens

Thats all cute but its generally believed were about to hit inflation so the its okay until is a bit moot as it may be.... like starting last week.

Pred dnevom
Matt Brand
Matt Brand

10:45 - 10:56.. best 11 seconds!

Pred dnevom
SupaDanteX
SupaDanteX

"We can create all the money we need, as long as we dont end up with inflation" ...What? How does one create money without inflation? That's like saying we can blow up a balloon as long as we don't use gas. Or a better word Inflate a balloon.

Pred dnevom
SupaDanteX
SupaDanteX

@seigeengine Hmm. yes. "May". "Can". Will. Will. The only situation where it's "May, and Can", and not "Will, and Will" Are if a LOT of people are either stupid and/or not paying attention. But we obviously disagree on this and won't convince each other, so this is my last comment on the matter. Have a nice day :)

Pred 25 minutami
seigeengine
seigeengine

@SupaDanteX "No cute abstractions, now let me blab about an abstraction at you." Let me layer on you. Creating money does not cause inflation. Creating money may decrease the value people perceive each unit of that money to have. If a sufficient number of people perceive the value of each unit of money to have decreased as a product of the addition of new money, then this can cause inflation.

Pred uro
SupaDanteX
SupaDanteX

@seigeengine no cute abstractions. One of the things that causes inflation (The prices of things going up) is literally the creation of money. More money means money in total is worth less, so the price of things goes up to compensate. There should be literally no way to create free money without also causing inflation to some degree.

Pred 4 urami
seigeengine
seigeengine

because reality is a lot more complicated and messy than the cute abstractions in our heads.

Pred 16 urami
Matt Brand
Matt Brand

you're a fucking legend John!

Pred dnevom
Thomas L
Thomas L

I guess it was naive of me to think that after spending 4 years of saying debt doesn't matter when it comes to tax breaks and subsidising trade wars, that they wouldn't start complaining when Democrats get in

Pred dnevom
balventray
balventray

Don't worry it "JUBILEE YEAR" debt forgiveness. It's the only option

Pred dnevom
Jacob Price
Jacob Price

Could not agree more. The “National Debt” is the biggest non-issue of modern politics. Are there things which are concerning about it? Yes. Should it be given the amount of attention it is? No. Does it work even remotely like most politicians and pundits say it does? Absolutely fucking not

Pred 2 dnevi
ollyshuteye1982
ollyshuteye1982

Isn't the US Debt in US dollars? So if you really wanted to, you could just print more money and pay off a larger chunk of the debt.

Pred 2 dnevi
Xiaotian Cui
Xiaotian Cui

Dollar supermacy basically allows fed to print money non stop as dollors is the world reserve currency. America is actually have a whole world to inflat when it comes to debt... The worst thing is those American debt cant even be spent in those countries because it will inflat themselves. Btw japan is going to empty their nuclear waste water caused by Fukushima into Pacific (which they claim its clean now for the second time lol), so theyre going to buy more American debt to gain American support on that...

Pred 2 dnevi
JhericFury
JhericFury

If you avoid taking out a loan even though you need it to replace your companies essential machinery, it's not fiscally sound. If you sell off essential machinery to make a quick buck, it's not fiscally sound (unless you're asset harvesting). It's the same with a country.

Pred 2 dnevi
ZerreZ
ZerreZ

some economists belive a debt crisis can be avoided by a debt right off. would have to be a global agreement with many countries and organisations

Pred 2 dnevi
ZerreZ
ZerreZ

the interest rate has been falling due to many factors QE and other shit

Pred 2 dnevi
BluffaloSoldier
BluffaloSoldier

I think Oliver’s claim that economists have “no f’ing idea” about this topic is misleading. High levels of sovereign debt has precipitated many economic crises around the world for hundreds of years. Just b/c the relationship is imperfect, it doesn’t mean that high levels of debt are safe. Accruing high debt is like driving drunk and getting in a serious accident. U can get away with it some of the time, but it is really unwise.

Pred 2 dnevi
Princess Buttercup
Princess Buttercup

John Oliver replacing his wife with a Nicolas Cage pillow... time to write the best smut fanfiction ever.

Pred 2 dnevi
Robyn Goh
Robyn Goh

I'm not an expert, but I recall from one of my economics classes in university (did my bachelors in business management) this: The fear that America will eventually devalue the dollar to reduce this debt (since they are denominated in USD), and massive economic repercussions will follow.

Pred 2 dnevi
seigeengine
seigeengine

Okay, so why would the USA do that? What precise conditions would force the USA to do that?

Pred 2 dnevi
daniel job
daniel job

Give money to the poor, they use it to pay bills and buy stuff, stimulating economic growth and stabilising infrastructure. Give money to the rich, they hoard it in an offshore tax shelter. I thought everyone knew that!

Pred 2 dnevi
seigeengine
seigeengine

The entire republican narrative is that if you give money to the rich they'll invest it and grow the economy, which is (almost entirely) wrong. While some does get reinvested, generally the rich are already optimally investing in the growth opportunities beneficial to them, so more money just gets spent making them richer, generally by hoarding valuable assets.

Pred 2 dnevi
Zilron
Zilron

We know exactly why interests rates are low, they are determine by the Federal reserve in the USA. Saying they don't know what causes low interest rates is a flat out lie.

Pred 2 dnevi
seigeengine
seigeengine

I mean, that's not entirely true. While the Fed does influence this, they also rely on other entities purchasing that debt. If rates are too low, they risk those entities simply refusing to do so. If confidence in the ability of the US to repay it's debt goes down, then demand for that debt would go down, forcing a higher interest rate to entice investors. The entire point raised is that it's predicted that would have already happened, but it hasn't, so prior theories on where the line is were clearly wrong, and they don't know what the actual line is.

Pred 2 dnevi
Jonas
Jonas

very poorly researched piece. 'we don't know why interest rates are low' - BULLSHIT. The interest rates are so low because the FED is artificially manipulating them down. This is not a conspiracy theory, this is called officially 'Quantitative Easing', more commonly known as 'money printing'. The FED deliberately and openly does that to keep the interest rates low. And if they didn't do that, the interest rates would skyrocket and the US federal government would be broke within weeks. There, here's your answer, now you know.

Pred 2 dnevi
Jonas
Jonas

@Chris Haven oh, and they have been using QE SINCE the GFC, not DURING. Or the GFC just went on for 8 years, whatever you want to call it.

Pred 2 dnevi
Jonas
Jonas

@Chris Haven The money printing started in 71 when Nixon took the USD off gold. In 1980 it came to a head because people lost trust in the USD and Drucker raised interest rates significantly to stem the loss of value in the USD. Since then it has been going down, yes. And yes, QE started in GFC. So you're saying that interest rates have gone down before, QE cannot be the reason why they are going down/are down now? That is false logic. Also, the FED itself STATES that they do QE to keep interest rates down! They themselves say THIS IS THE PURPOSE OF QE, TO PROVIDE YIELD CURVE CONTROL (i.e. keep rates down).

Pred 2 dnevi
Jonas
Jonas

@seigeengine well they DO print money freely (FED balance sheet doubled in the past 12 months), and that is exactly the thing that is pushing down interest rates. The Fed types numbers into a computer and syphons up every US bond they can get their hands on - this demand drives interest rates down. They have been doing this since the GFC and when they tried stopping it, interest rates went up immediately and the US economy near crashed in 2019. Hence they print more money (oh sorry, should say 'perform quantitative easing'.

Pred 2 dnevi
Chris Haven
Chris Haven

Interest rates have been falling since the 1980s. Quantitative easing's not something they use all the time. As far as I can tell, since the 80s, they've only used it twice: During the financial crisis of '08 and '09 and in response to the covid pandemic. How exactly do you figure QE being reponsible for low interest rates considering it started dropping roughly 3 decades before they started doing QE the first time?

Pred 2 dnevi
seigeengine
seigeengine

If they just printed money freely, that would result in the same thing: devaluing of ownership of US debt, resulting in higher interest rates.

Pred 2 dnevi
Mark Ironside
Mark Ironside

I’d honestly love to see an episode on computer viruses

Pred 2 dnevi
pepe the frog poops on right wingers
pepe the frog poops on right wingers

hbo looking at their expenses - 2 pillows each with a picture of a topless nicholas cage inside a banana skin hbo - john oliver bought those pillows didn't he? we didn't even have to ask who would buy those, did we?

Pred 2 dnevi
pepe the frog poops on right wingers
pepe the frog poops on right wingers

@SupaDanteX i'm in favour of the pillows, the last comment was what hbo could be thinking XD

Pred dnevom
SupaDanteX
SupaDanteX

"Look man, at least he didn't buy thousand dollar wax presidents again. What did those pillows cost? $20 each? Just let him have em."

Pred dnevom
Aaron Hahn
Aaron Hahn

AMERICA! The MOST Wealthiest Greatest Nation on Earth!!! .....Really?

Pred 2 dnevi
MTG Rabbit Wizard
MTG Rabbit Wizard

except that benifits the rich... so eat the rich!

Pred 2 dnevi
Tatenda Mhuriro
Tatenda Mhuriro

I’ve not had sexual because of many people’s personal choices

Pred 2 dnevi
TheLegend_Doggo
TheLegend_Doggo

I can’t wait to see an audience return. Hopefully halfway through the season, or at the least by next season

Pred 2 dnevi
Deimonik1
Deimonik1

Wow no late night tv ad is going to get you out of that one. Are you 28 trillion dollars in debt? Would you like to consolidate that into a low monthly repayment?

Pred 2 dnevi
Rag
Rag

"spending more money than they can get from taxes" its almost as if constantly refusing to tax the rich properly is a long term problem.

Pred 2 dnevi
s j s
s j s

@Jared Ray there's a simple (if tricky to apply) solution to at least the relocation part: a global high-income tax bracket. a tax for the mega rich which is applied & used globally would prevent them simply relocating away. though ofc they mostly keep all the money in tax-havens atm & getting those to agree to allow taxation of these funds would probably be a political nightmare. re the profitability issue: ofc i understand & agree that over-taxing companies could become an issue, but atm the issue is that really large companies tend to pay little or even *no* tax while smaller ones can't afford to dodge it so effectively. as you pointed out: closing loopholes so tax is actually fairly applied would make a huge difference.

Pred 6 urami
Jared Ray
Jared Ray

@s j s your points are not without merit, but there is a counter argument that must be addressed. A business remains open only as long as it remains profitable. Beyond a certain point taxes will negate profit, At which point the business will pull up stakes and move to an area that has a lower tax bracket. In the case of a mega corporation or billionaire, that might mean moving to a different country altogether so that the taxes do not apply to them. When businesses pull up stakes they leave behind their unemployed workers. They also leave behind the country/state/county that no longer benefits from the taxable income of company profits, sales, worker incomes, etc. You are right in that raising the taxes of the Poor does not solve anything, but care must be taken with increasing taxes of the upper classes due to their financial mobility. By far the best way to increase tax revenue, is to increase the amount of taxable income . In theory, the Republican party follows this line of reasoning by keeping taxes low, allowing capital growth, which allows for a bigger GDP. In practice, They do this just a little too well. Admittedly, Wealth does become a bit ridiculous once you’ve gone beyond the first few billion dollars in your bank account…

Pred 15 urami
s j s
s j s

@219Thompson ok, so agreed they should pay *at least* the same amount? it'd be a good start, in general atm they often pay far less per dollar earned, compared to people in the (theoretically) lower tax brackets, due ofc to tax evasion, tax avoidance, tax mitigation via various offsettable expenditures (inc in the UK things like the fees for their kids private schools...) and so on. reason we want them to pay more is simple: raising more taxes for the nation means we can invest more in the nation's interests: ie make the place better *for everyone*, which benefits everyone (though not equally: business owners for instance will benefit more from a well educated & healthy workforce than the average person). reason they should pay more is pretty simple: they can afford to. if poorer people get taxed more they'll starve. if rich people get taxed more they get richer *slightly* slower. 'from each according to their abilities, to each according to their needs.'

Pred 16 urami
219Thompson
219Thompson

@s j s So I agree a lot of loopholes need to be closed so people pay the actual amount in the brackets ( big fan of flat tax rate for this reason), but why should someone who makes more inherently be taxed more?

Pred 16 urami
s j s
s j s

don't be ridiculous, how could taxing the seven guys who have HALF THE MONEY possibly have a useful effect. it's not like they have HALF THE MONEY or anything.

Pred dnevom
Petros Dorizas
Petros Dorizas

Funny how different his coverage is now than it was during his (and everyone else's) coverage of the Greek financial crisis.

Pred 2 dnevi
Liam
Liam

Greece and the USA are very different. Greece have a currency that is shared with multiple nations this gives them less ability to go into debt. The USA owns the only bank that can create US dollars. Basically when Greece asks for a bailout they’re just asking for the EU to allow the increase in the Euro money supply to cover their deficits.

Pred dnevom
HMTarnus
HMTarnus

*bangs head repeatedly on table For the love of Marvel... Money is not exogenous in monetary capitalism, it’s endogenous. Has JO’s staff really not picked up a central bank report or an economic journal in 30 years?

Pred 2 dnevi
BrSgtJordan
BrSgtJordan

conservatives being hypocrites about their own debt? same problem in Australia.

Pred 2 dnevi
sonicshroom
sonicshroom

Only under capitalism could a country be in debt to itself.

Pred 2 dnevi
seigeengine
seigeengine

I mean, I guess? Not sure if there's supposed to be a point here.

Pred 2 dnevi
teamidris
teamidris

Maybe loans are like cars. The more you make the cheaper they get?

Pred 2 dnevi
Joe Craft
Joe Craft

The republicans always talk about it, but they cause most of it.

Pred 2 dnevi
Cyril Broom
Cyril Broom

When your going to steal billions you talk about trillions. If the government can print money at will why the hell do you want some of mine? Oliver is a talk show host that falls asleep before midnight.

Pred 2 dnevi
seigeengine
seigeengine

... because money is not distinct from any other good. The more of it there is, the less valuable each unit of it is, unless the demand for that good also increases.

Pred 2 dnevi
Abhijeet Mandal
Abhijeet Mandal

Debt is stealing your Hard Earned money no wonder why BITCOIN's inflating.

Pred 2 dnevi
overinvested
overinvested

stick to comedy

Pred 2 dnevi
Sol Lancer
Sol Lancer

Nice message, better yet awesome your future kid message. That debt clock is a tool to pass the blame to the people for politician potential future error. Its like "alright citizen we politician will eat the steak as you all voted for, but not of the free will of hungry politicians which made the choice to eat it in the first place" after eating it up, and turn around telling your children needs to pay for their next steaks with their future pay check. Sure sound like a solid plan if I ever see one, and that hole hes digging is to hide the steak bones.

Pred 3 dnevi
Chris Barlow
Chris Barlow

did John Oliver just chastise Cruz and Mulvaney for calling out republican hypocrisy on debt? Cuz it sounds like Oliver just chastised two republicans for calling out republican hypocrisy.

Pred 3 dnevi
seigeengine
seigeengine

... No, he's chastising them for publicly admitting to not caring when they're in power, but screeching endlessly while the other side is.

Pred 2 dnevi
Lord Sesshomaru
Lord Sesshomaru

Child's voice:"...all have 1 message for you. GROW. THE FUCK. UP.

Pred 3 dnevi
Moxie Lofton
Moxie Lofton

The more I watch LWT, the more I'm aware of the extent of the USAs propaganda machine and how susceptible the populace seems to be

Pred 3 dnevi
Joe Weis
Joe Weis

REAGANOMICS Began The National Debt Snow Ball !!!

Pred 3 dnevi
RS
RS

buy bitcoin.

Pred 3 dnevi
Jaron Neutronix
Jaron Neutronix

What is the argument here? That rising debt has worked fine so far, even though we know someday it could destroy everything.. We don’t know why so let’s just ignore it... I like John Oliver but this is some crazy dangerous bullshit

Pred 3 dnevi
Jaron Neutronix
Jaron Neutronix

@seigeengine I was discussing the topic from the video: our rising debt. I guess you don’t have any relevant response

Pred 2 dnevi
seigeengine
seigeengine

@Jaron Neutronix When you immediately started rambling about something neither of us were talking about, that made it clear you're a nutjob or a troll. Get muted.

Pred 2 dnevi
Jaron Neutronix
Jaron Neutronix

@seigeengine To further clarify I am thoroughly disappointed by our failure to plan to for eventual failure in our economic system. It seems to me the attitude is ‘this hasn’t been a problem yet so let’s not worry about it”, which honestly reminds me a lot of our reaction to impending climate change

Pred 2 dnevi
Jaron Neutronix
Jaron Neutronix

@seigeengine What I get from this segment is that the system is currently working even as the debt is more than the GDP the interest rates continue to fall. However Economists don’t fully understand why this continues to work or how long it will last, so let’s just keep doing what we’re doing and refuse to plan for failure or have a system in place for when we are called upon to pay our debts in the event of a catastrophic failure. I believe a government should plan extensively for failure, rather than plan for 4 years at a time.

Pred 2 dnevi
Jaron Neutronix
Jaron Neutronix

@seigeengine Yes I did. Did you actually watch the video? What do you think will happen when the USA no longer has a market to exponentially grow production for, or when the interest rates rise and/or the value of the US Dollar lessens and the USD is no longer considered a preferable global currency? I understand this system has been working and could continue to work for decades. However what happens when it eventually fails? Do we have a solid plan for what to do?

Pred 2 dnevi
Thomas Linnemann
Thomas Linnemann

Buy nocalas cage pillow cases. Got it 👍

Pred 3 dnevi
GSBgamesYT
GSBgamesYT

The graphing calculator joke hurt me LMAO

Pred 4 dnevi
Thomas Stecyk
Thomas Stecyk

How and why does China build whole cities and leave them empty? The US can not keep infrastructure maintained or replaced. Why the hell can't we just fix or replace infrastructure. If businesses do not want to invest in the infrastructure that keeps or economy rolling. The put toll roads up in every state and if the existing infrastructure falls down around our ears. Then detour around it. Let the US government build the infrastructure take the money from the toll roads and pay that money to the states that ask for it.

Pred 4 dnevi
seigeengine
seigeengine

Due to laws in China, the most viable way for local governments to generate revenue is land sales by converting rural land nearby into urban land. This gets sold to developers at huge markups with the requirement of immediate construction, which then generates large volumes of housing. This rapid construction outpaces migration, and is often purchased as investments, either for resale or for things like the children when they grow up. The USA is fully capable of maintaining and developing it's infrastructure, it just chooses not to. A big issue simply being that the Republican party is entirely corrupt and proto-fascist. They do little when they're in power, and then are overwhelmingly obstructionist when they're not.

Pred 2 dnevi
Abe Hussein
Abe Hussein

I know John mentioned creditors running with a baseball bat. But whom is our unions creditors?

Pred 4 dnevi
James Campbell
James Campbell

US Constitution Article 1 Section 8: Congress has the power to borrow Money on the credit of the United States. Not Presidents

Pred 4 dnevi
Jimmy Danly
Jimmy Danly

This is exactly why I don't like this show. So many episodes are well researched pieces of investigative journalism, then episodes like this, which, while in the same style, are really just thinly disguised op eds promoting fringe economic ideologies such as Modern Monetary Theory. It's fine for a news organization to editorialize, but it's unethical to not label editorial content.

Pred 4 dnevi
Jimmy Danly
Jimmy Danly

@seigeengine Are you kidding me? The very idea that debt levels don't matter if government spends the money on its own economy, the very thesis of this argument, is right out of MMT. I'm not even arguing it's wrong (though it is), what I'm arguing is "oh we're a comedy show, we never claimed to be an informational show" is a terrible excuse for the bait and switch they do. People obviously watch for the jokes, but they also watch to become informed on issues, as John Oliver has done a fair number of episodes that are highly informative. I'm also not arguing he shouldn't give opinions and always remain unbiased. In fact, it's those who have demonstrated their ability to convey information who tend to have the most valuable opinions. What I'm saying is unethical is this show's refusal to label editorial content and using the excuse that it's technically a comedy show to get away with it.

Pred 2 dnevi
seigeengine
seigeengine

@Jimmy Danly No, you're entirely wrong in that assertion. One is claiming to be news but isn't, the other isn't news and isn't claiming to be Your criticism also basically amounts to "wah, why does this entertainment show not explain everything!?!?!?" Furthermore, basically nothing in this video relies on MMT, and it's weird to claim otherwise when large portions of this video are clearly based on more mainstream economic beliefs. It doesn't even seem to me you have any actual specific objections to what's being said, nor reasons why you believe it's wrong, but your disagreement has lead you to criticize it anyway, as your best effort is making vague claims about economic theories that aren't even central to what's being said.

Pred 2 dnevi
Jimmy Danly
Jimmy Danly

@Ben Jacobs The problem is that a lot of people look to LWT for information. In fact, a lot of episodes are primarily fact based. However, they'll have episodes like this, where they present a fringe idea as if it were fact. This is especially dangerous when they play clips of experts opining on the subject without clarification that the opinion presented is not widely accepted within the field. The argument that this doesn't matter since it's also a comedy is basically the same disingenuous argument used by those "ironically" being nazis.

Pred 2 dnevi
Ben Jacobs
Ben Jacobs

LWT isn't investigative journalism any more than Tucker Carlson is. They're both oped all the way down. Seige is right as to why you refute this claim. As much as I enjoy Oliver, I think it's important that you understand the critique you're making applies to almost all of the stories they run with. The difference between JO and TC is that one resides on a news channel and portrays themselves as a serious outlet while the other resides on a comedy show which portrays itself as a satirical news outlet. (A point John Stewart and John Oliver have made many times). It's a difficult thing to convey what a factual news outlet is these days. (Very few/none actually exist. Reuters are probably the closest thing I've found).

Pred 2 dnevi
Jimmy Danly
Jimmy Danly

@seigeengine No, it's why legitimate news sources clearly label opinion pieces as editorials. John Oliver may hide behind claiming that this isn't really a news show, it's a late night comedy, but a lot of people get information from these pieces. Ones like this are especially insidious, as they present clips of economists speaking without giving context that MMT isn't a widely accepted idea even within academic circles. But, the lay person doesn't know that. Really, it's not that different than Fox News or Newsmax. They present themselves as news outlets, but almost all of their programming is opinion.

Pred 2 dnevi
Bogdan Vale
Bogdan Vale

wow, I wonder whose fault it is. get your shit together, murica

Pred 4 dnevi
CoalClear
CoalClear

Amazing how you can shove so much nonsense in a video. Tally up the time he spent actually talking about debt? A minute? Politics politics politics. Politics are a symptom. Look up Luke Gromen, Preston Pysh, Jeff Booth, Lyn Alden if you're actually interested in this topic.

Pred 4 dnevi
Erwin Macías
Erwin Macías

It’s all fun and games until the world stops playing with monopoly dollars.

Pred 4 dnevi
seigeengine
seigeengine

So post-apocalypse?

Pred 2 dnevi
Fat Basterd
Fat Basterd

I'm sure this will age like a fine wine...

Pred 4 dnevi
Zzyzzyzzs
Zzyzzyzzs

We know it won't, but that's only because nothing we do within this construct is sustainable. It doesn't matter whether you're socialist, communist, capitalist, whatever; our entire prosperity as a species, and ability to provide for our community, is bound up in consuming and spending. The system is entirely propped up by our activities. We spend so money (in the form of taxes) flows back into the system to pay for infrastructure. The numbers shouldn't mean anything, but they do because the 'value' of things has to keep going up, even though we're long past the point where the numbers actually reflect anything practical. A tomato maybe cost 1c in 1920; now it costs 50c. A tomato is still just a tomato; there's no reason it should've gotten more expensive in 100 years, other than the fact that everything else has gotten more expensive and we need those numbers to keep rising so we can keep providing for more and more people. So we're basically slaves to growth at this point: we need more people to consume more resource so more money flows around the system to pay for more people. The Nicolas Cage pillow makes the point well: on top of buying for basic survival, the govt now needs us to buy more and more useless shit (draining energy and resources in the process) just to keep the system going. And we're at the point now where we've realised, holy shit, we shouldn't just be spending on useless shit, money now also needs to go towards things that actually matter. But in order to pay for climate funds, medicare and national disaster insurance, we need, yep, to spend on more useless shit. So we build more theme parks and shopping malls and beg people to take more holidays and buy and shop and spend more. We cause damage and waste by spending just so, for every amount we damage and waste, we spend 10% of the cost to fix 10% of the damage. And America's a rich country so it can afford to keep doing this, because other countries' wealth and security is so tied to America existing that they will keep shoveling goods and money at America so it can keep doing it, even as the sea rises around our ankles and the resource wars get ever hotter. We _know_ it's not sustainable, but we have to keep doing it because the alternative is our entire global society collapsing.

Pred 2 dnevi

Naprej

Bankruptcy: Last Week Tonight with John Oliver (HBO)

21:13

OAN: Last Week Tonight with John Oliver (HBO)

18:06

I SURPRISED HIM W/ THIS AGAIN...

5:06

I SURPRISED HIM W/ THIS AGAIN...

Bryce Hall

Ogledi 1 mio.

KEEP COMMENTS RESPECTFUL

1:43

KEEP COMMENTS RESPECTFUL

Joana Ceddia

Ogledi 998 tis.

The Champions: Season 5, Episode 2

5:49

The Champions: Season 5, Episode 2

B/R Football

Ogledi 1,2 mio.

Nekdo je diplomiral o... MENI?!?

14:19

Nekdo je diplomiral o... MENI?!?

Marko Žerjal

Ogledi 25 tis.

I'm Having Surgery Tomorrow

1:25

I'm Having Surgery Tomorrow

DanTDM

Ogledi 1,6 mio.

I Survived On $0.01 For 1 Week - Day 3

18:59

I Survived On $0.01 For 1 Week - Day 3

Ryan Trahan

Ogledi 2,7 mio.