This Is The Income Inequality Video CEOs Don’t Want Americans To See

This Is The Income Inequality Video CEOs Don’t Want Americans To See


So America seem to have a misconception about where we are in terms of inequality and incomes. Now everybody believes in the American dream, kind of… …mostly, as you’re about to see. But they don’t realize the reality in what’s happening. it wasn’t always this unequal, if you go
back to 1960s actually, the numbers are pretty good and in the 1960s for example
according to Jordan Weissmann who’s looking at some the studies involved
here the typical corporate chieftain in the
US earned twenty times as much as the average employee. Now that seems like a big number but I’m comfortable with that it turns out a lot americans are comfortable with that. In fact, when they were asked
the median American guessed that executives out earned factory
workers roughly 30-to-1. so actually it’s in the nineteen sixties
we were doing better than the average American’s expectations in terms of
equality between the CEO’s executives and the rest the
workers. Alright, so far so good. Now, when you asked
Americans though what should it be they believe that the ideal ratio
would be about 7-to-1. They thought it was 30-to-1 and by the way 3-to-1 is today, they were
getting it today, not in the 1960s right and I think people are loosely aware
that it’s with much more unequal than it was in the sixties. So they think it’s 30-to-1 today they guessed, they said the ideal would be 7-to-1.
So what is it today? Not in the 1960s – what is it
today? Today, depending on who’s estimate you choose the average CEO makes
anywhere from 272 to 354 times more times as much as the average worker. So it’s not 30-1. It’s about 300-1. Americans think it should be 7-1. It’s 300-1. You have no idea how badly
are being rooked. You’re like Mustafa in Austin Powers.
You’re badly burned! You’re still there but you but you’re burned. And you don’t even know it, and in fact, I’m gonna get the explaining here how much you don’t
know it. According the AFL-CIO the average CEO today takes home more
than 12 million dollars, while average worker makes about
34,000 dollars. Isn’t that amazing? Okay, now, remember – CEO’s are not
necessarily entrepreneurs so some CEO’s where people who started the company the Bill
Gates, the Steve Jobs etc, right? But most CEOs, and the overwhelming majority
CEO’s are not the entrepreneur who took great
risk and then of course gets a huge payout. We all understand that, and that’s how capitalism works. And I think most Americans are comfortable with that. But they’re just the guys who run
the company so… and we’ve shown in study after study that in fact actually
the highest pay CEOs don’t do any better in fact sometimes they do worse than CEO’s are paid less. So this whole idea about “No, you have to pay through the roof so that you’ve got a CEO that has your company so much better” is not really true. So they’re getting these disproportionate payouts when they didn’t necessarily start the
company – they’re a manager. They’re a manager, right? So 20-to-1, 30-to-1 might make sense. But 300-to-1, 12 million dollars on average. It’s unbelievable. If I owned the company, I wouldn’t give a CEO 12 million dollars to run it. I bet could find a really smart guy for a lot
less. Okay… And by the way if you don’t
know they rigged the rules, and I’m a tell you about that a little bit. With the
government and within their own companies. Alright, so we’ll get to that
in a second. That’s the explanation. So… this is also very interesting: Americans didn’t answer the survey much differently from participants in other
countries. Australians believed that roughly 8-to-1 would be a good ratio between CEO’s and the average worker; French settled on about 7-to-1 and the Germans settled on around 6-to-1. So we’re right at
the average of the developed world – we think it should be
7-to-1, when obviously it’s nowhere near that. Now we have Michael Morton – Harvard
Business School professor who begins to explain this a little bit. And
this is fascinating. It’s part of the guys who did study.
“Maybe most importantly people from all walks of life – Democrats and
Republicans, rich and poor, all over the world – have a large
degree of consensus in their ideals: Everyone’s ideals are
more equal than the way they think things are. So… actually Republicans don’t disagree, conservatives don’t disagree. They think that there is great inequality, even though they’re underestimating it by a factor of ten, right? They think it’s
30-to-1, it’s in fact 300-to-1. And they already think 30-to-1 is terrible! Okay, now here’s a fascinating thing where they
compare Sweden and the US. Now remember Sweden – quite socialist, infact one of the most socialist
countries there are. And they have much better income equality, better distribution of income. Okay so… Participants were shown three
unlabeled pie charts meant to depict possible wealth
distributions: one that was totally equal; one based on Sweden’s income
distribution, which is highly egalitarian; and one based on the US wealth
distribution, which is wildly skewed toward the rich. They used Swedish income data as a model,
rather than wealth to strike a ‘clear contrast’ with the
United States. Then, the subjects were told to pick where they would like to live,
assuming they would be randomly assigned to a spot on the economic ladder. With their imaginary fate up to chance, 92% of Americans opted for Sweden’s pie chart over the
United States. Okay now think about that. They did not
pick the perfectly equal chart, they didn’t. They didn’t pick the
American chart. 92% – not of Germans, not of Italians, not of anyone else. 92% of Americans picked the chart for equality that matched one the most socialist countries in
the world. So that leads to a number of conclusions. First of all – you’re socialist and don’t even know it. You think “Oh yeah we’re a free market, alright, yeah!” from all the Republicans in service. But this just propaganda you been fed.
When you ask the specifics “How would you like society be?” – you pick a
very social society. One that got much better income
distribution and I say better because you said better – you
said that’s what you want! 92% of Americans said thats that’s what they want. If you want more on the study by the way, go to Slate and check it out, we’ll have the link down
below on YouTube. Because this fascinating to look at.
So that’s point number one. Point number two is: why don’t you
know this? Why are you so off on your predictions? You generally – as
Americans – why do you think is 31 when it turns out it turns out it’s about 300-to-1? Isn’t that weird? Well, the reality is, generally speaking, they don’t want you to know. Now who’s
gotten all the advantages in the system? The CEO’s, as we just told you, right? The
executives that run the corporations. What are the major news outlets that you watch, especially
on television? They are corporations. Do they want you
to know that in fact they’re filtering all
the money up to the top and that you have such enormous income inequality in this country, that
if you knew the depth of it, you might even start a revolution? A
political revolution? They don’t want you to know that. So they’ll talk about all this is that’ll scare the bejesus outta you “ISIS! Ebola! Look at all these things!”
You’re not going to get Ebola, there’s one guy in the country with Ebola and he
just came from Africa and he’s quaranteed. You’re not gonna get Ebola. That’s
not the real danger, the real dangers are that you worked super hard and they take your money. Here – this is
what I mean I’ll show you a graph. This is one the most interesting graphs, because
it goes to show you that… look it seems like well that’s kinda benign,
right? They’re a couple of lines. But let me show you what’s happening here,
and why it’s so important. The top line is productivity and it has consistently gone up all
throughout these years, okay, so throughout all these decades
American worker has been perfectly productive, great job guys! And
if you noticed throughout all these years until about 1980 that your income has gone up with
your productivity – that makes sense. You were productive and you got better
income – great, that’s how capitalism is supposed to work, that’s why I’m in favor of capitalism. But around 1980 they changed the rules and what winds up
happening is your median income starts the flatline. Your productivity’s
still high and soaring, but you do not get big gains
from that productivity. That part in the middle there – between
productivity and income – all of that is taken, it seems small on
chart, but in real world that is trillions of dollars of productivity. And it is filtered up to the top. That’s
why the CEOs are getting twelve million dollars a year on average – that’s why they’re getting paid up to
350 times what you’re getting paid because they rigged the rules. It’s not an
accident It’s not like “Well it always happens”. No
wait – it doesn’t happen in Sweden, it doesn’t happen other countries. It
hasn’t always happened in America. In America in the 1960s – the
Golden Age – conservatives say that the Golden Age of America, right? It was like that at all. Why? We had a much higher rate for the top marginal income bracket. So
if you made about – you know, in today’s dollars – millions
of dollars, right? They charged… The tax rate was all
the way up to 91% at one point. But it wasn’t 91% of all of your
income. It was the 91% for
every dollar above a couple million dollars in today’s dollars. Okay? So if you made a gargantuan amount
of money they said “Okay, look, we’re gonna take that for infrastructure. So that everybody can be better off, so that we can educate the next generation of Americans, and they could be
just as productive as you were, and we can grow this economy and that
worked. It worked in the 1950s, it worked in the 1960s and through the 70s. And then we
ran into a brick wall. For two reasons: the Reagan revolution –
they said “No, end of that.” We’re cutting taxes on the
rich, we’re cutting taxes on corporations, we’re shifting the tax burden on the
average American. And we’re gonna get rid of regulations. So if the company wants to say “Hey you know what? We’re not
really gonna share the profits that were making with
the our workers and we’re not gonna regulate it. Take the money, who cares?” And all of these different rules they
changed, and of course – other than the Reagan revolution – a major
thing that happened was – in 1976 and 1978 the Supreme Court had two colossal decisions that said corporations are human beings, they
had decided that earlier, and hence they have freedom of speech rights. And freedom of speech means spending money in politics.
Corporations can now spend money buying your politicians and
they did. They bought them in bucket force. And they captured the American government and
rigged the rules in their favor and instead having a reasonable 20-to-1 ratio between the executives and the average worker, they made it 300-to-1. It didn’t happen in other countries, it
didn’t happen in this country at another time, it happen starting in
the 1980s. Because they fixed the rules to screw
you over and on the behalves of the executives. They rigged the government that way and within their own companies they said “Oh yeah, the CEO and management will help pick
the board and then the board will help pick management and the CEOs.” What is that? That’s a circle, right? So they
all decided “Oh yeah, we’re super important. We all got to get paid a lot of money.”
By the way, who does that screw over? Shareholders – not just employees – but the shareholders, the people who
theoretically own the company. “Sorry, you don’t have a lot to rights you show once a year and maybe we’ll
allow you to vote.” They rigged the rules so much, that a lot
of shareholders in this country can’t even vote…
…on what compensation they’re gonna give their executives. Isn’t that insane? It’s the owners of the company! That’s not
capitalism, that’s not how capitalism is supposed to work!
Corporations have taken over the government and what used to be our
capitalist system and they have instituted corporatism.
And this system has melded big business and state together. And they crush all their competition by rigging the system in their behalf, they
allow for all these gigantic mergers, they give unnatural advantages to
companies so the smaller companies cannot compete
with them. They shift the tax burden onto you. And they shift the income onto
themselves. That is why we are in the horribly inequal state that we are in right now.
And if only Americans knew how bad it was, and why we got to this state, they
might actually do something about it. Now you
know our solution, we think that getting a
constitutional amendment to get money out of politics is critical. When money swamped into–
and especially corporate money, swamped into politics, that’s when they captured our government.
We can get our government back. Back in the 1950s, 60s, 70s our government
worked for us. Ralph Nader was so strong – can you
imagine that world? – that he got Nixon to pass the EP to
start the Environmental Protection Agency! Nixon! That’s how strong progressives were,
because when you’re both mattered they had to actually care what you
thought. You don’t want your kids poisoned, you didn’t want the river poisoning you, you didn’t want the air poisoned. They passed [?], they passed seatbelts. they did all things to protect the American voters! The citizens! That’s the
kind of country we used to have when we were in the top of the world, and that’s
kinda country we can have as long as you amend the Constitution to
say let’s go back to what made America great. Where we were a democracy, where we have free, and fair elections. Right now the only people who could run in those
elections are millionaires hand-picked by these executives to
maintain this current order. Well, I don’t like this order, I don’t think you
like this order and according to the studies, 92% of you don’t like this
order. You’ve been had, you’ve been took. So I’mma get up and take it back. The way
you do it is you go to wolf-pack.com That’s our website
we’ve already got an army of over 10,000 people. We’ve already got to say to say we’ll go
to a constitutional convention we’re going to get that amendment, no
matter what Washington thinks. We’re gonna do it – join us – be part of that… if we write
down into the Constitution… Every generation of Americans has amended
the constitution, because you’re supposed to. You know
one of the amendments to the Constitution? The Bill of Rights. You know what our
amendments to the constitution, the 13th, 14th, and 15th amendments that freed the slaves. The amendment
to the Constitution gave women the right to vote. We are suppose to work– all throughout history, and all the generations of Americans
to get a more perfect union. It’s now your turn. Do you like this system? If you
do, you bow your head and you go home, you sit on your couch and you shut your mouth. If you don’t like the system, you get up
and you fight back. We already have a logical way to do that.
We’ve already gotten California, we’ve already got Vermont, we’ve already gotten twenty different
states to introduce this resolution. Republicans are actually with us,
independents are with us. It’s 92% of the country. By the
way in other polls, “Do you think money is corrupting politics?”
95% say yes. Of course it is! The only people who say
it isn’t are the people in Washington who benefit
from that corruption and the people in the media who also benefit from that corruption. By
the way where does the money in politics go? TV ads. Okay so, let’s overturn their
apple cart and say “No, no, we’re take this country back to the people that it belongs to. Of the
people, by the people for the people. They can’t beat us if we have a constitutional
answer. They can play around with the laws, you
can even play around with the Supreme Court. But if you write it down in inc in the
constitution – sorry – that is an answer that they cannot
compete with, and the only way you can do that – money can’t even buy that – the only way you
can do that is to the American people organizing, demanding it, and getting it when we work together. wolf-dash.com That’s how we do.

Author: Kennedi Daugherty

100 thoughts on “This Is The Income Inequality Video CEOs Don’t Want Americans To See

  1. this makes literally no sense at all…work hard…get an education…work hard…become a CEO – simple as that…don't want to work hard…become an average employee.

  2. Don’t let these dumb liberals make you believe that Sweden is a socialist country, cuz it isn’t.
    It is a capitalist monarchy that has social services that are not used

  3. The government could set a limit on how many times the minimum wage a person could be paid. But a lot of people believe in the free market economy almost totally.

  4. 270 dislikes American people white American people are damn idiots this man speaking the truth and you stupid idiots going to get it so keep on letting the corporations take control of everything and you have nothing work the rest of your life and have shitt to show for it damn buffoons😫😫😥😣🤤😤

  5. Why are American's so badly informed about income inequality? It's been going on for over 30 years, getting worse, year by year, so when will they catch on?

  6. unlife the UNDERCLASS CEO< COUNSEL< POLITICIANS AND the heads of divisions at companies don.t kill them just unlife them if they happen to die oh well!

  7. End corporate oppression if corporations are people then the leader of that people can be unlifed for life don't kill them just make them as influential as today's homeless person.

  8. this is why the bible calls greed the root of all evil. how evangelicals can support that evil, is beyond me. i ask you, is abortion worse than the very root of all evil?

  9. Reganomics, Thatcherism and Clinton's Citizen's United
    We've all been had and we'll continue to be had because we blame poverty on the poor (apparently it's some sort of moral failing) and we keep pretending anyone can make it if they just work. hard. enough.
    And that's bullshit.

  10. We need to change from corporations to a co-op business system using a Co-op reserve bank for access to large capital formation. The employee and employer relationship would be come bridged as one in the same; as each employee would have voting rights on what, how, where, to produce and what to do with the surplus/profits. Going further, house and renting establishments can be made to ensure rents and housing prices aren't insane by performing co-op housing development and rentals. The owners develop the land at expense only, not trumped up pricing on the lots and construction, and renters get to vote what to do with surpluses: upgrade roads, better parking, amenities, build more units, change rent prices such as actually lower them, etc.
    More effective than corporate and land lordships at growing a vibrant economy EVERYONE actually prospers from instead of the top 1%… and the top 20%to 2% would do better under such a system.

  11. all you americans should get a list of all the corporations that donate big dollars to these idiot politicians and start boycotting their products.

  12. CEOs are grossly overpaid and have to practically kill somebody to suffer consequences and still often reap huge benefits on the way out the door. Rarely is a CEO worth what they are being paid.

  13. If these CEOs did not want Americans to see the video, Americans would not see it. But they don't care if you do. The corporates are not scared you'll get angry, because you don't do anything to stop them when you DO get angry. You shout and have stupid little marches, then you forget and move on. Like you are programmed to. The people who rule you don't fear you at all, because you're too well-conditioned to ever be a genuine threat. Disagree? You just proved I'm right.

  14. IOW, the highest paid CEOs are those that can best sucker his/her employees to accept lower pay in order to boost company profitability.

  15. Republicans do not have the faintest idea how socialist they are…

    Because the central Americans rarely ever meet a REALLY wealthy guy ???

  16. In 1994 Bill Clinton signed a bill allowing a corporation to pay CEOs and rVP’s unlimited amt of company stock. If it’s based on performance/sales ,stock price.

  17. I think these ceo's make millions of dollars because that way they have a lot of money to give to the politicians pockets. It's all part of the corruption game.

  18. We need to add two tax rates: 1. For incomes over 1.5 million dollars a year: 60%. 2. For incomes over 600, million dollars a year: 90%. Provided All loopholes and tax deductions are trashed.

  19. isn't "corporatism" just another word for fascism? Sure it is and you know it. That's what America has become, a fascist state with a heavy dose of religion to placate the masses. All I can say folks is Bullets, Blankets, and Beans.

  20. To be fair europe is different because your talking about a continent that the majority of those who live on it are indigenous so they do deserve that the continent's wealth be given to even the poorest least productive because his ancestors lived conquered and owned the land as opposed to ame rica where we are all settlers and must work to make a life for ourselves but with that said American policies are rigged for the rich to get richer and poor to get poorer because they have bought out politicians and own them and the politicians that represent us actually don't they represent the people that pay them as most humans will.

  21. If shareholders and board of directors want to pay a CEO 12 million per annum why is it your business?

    Why do you expect union jobs, guaranteed income and big gov to watch over you and babysit?

    Embrace the opportunity that is abundant and continually improve all aspects of your life through conscious and deliberate action.

    Take responsibility for your own life.

    Justifying your shortcomings on others "the rich are richer" "the poor are poorer". If we were to redistribute wealth, frankly most poor people would stay poor and most rich people would be rich again shortly after (except for those who inherited either situation and either go down or up accordingly).

    We've all met people who assume massive irresponsible consumer debt and make poor decision in all aspects (especially financial) of their life; We've also probably all meet people who began making sound decisions and stuck by philosophies and principles for an extended period of time and amassed an abundance of wealth. Why should we tax them more on the basis that they make more? That just supports laziness and poor management. Nobody is there for you in life but yourself and perhaps a few real friends and family members.

  22. i work for a comany with about 14000 people working worldwide .
    and i just started there so i am at the verry bottom of my [money] potential at that company and the top dog makes 30 times as i make .
    and a co worker [same work ect ]of me has been working there for about 12 years its about 25 times as he makes .
    but you have to know it is an EUROPEAN company ,,,, and yes they have to make those payments known to the workforce

  23. The majority of Americans have been dumbed down and lived off prevliedge until they were left behind so far that they cannot catch up.

  24. Productivity went up and wages have remained stagnant, while ceo pay goes obscenely up. And while that’s going on, big money lobbyist, are doing everything to decimate unions and collective bargaining.

  25. Hard to believe this is a 3.5 year old clip already. I still think this is one of Cenk's best pieces- ever. (Not) funny how things haven't changed much… are maybe even worse. Yeah, support making election fund-raising rule changes. You bet.

  26. Excellent piece!, Let's all work together and drive a Progressive stake through the hearts of these Corporate Vampires!

  27. In business, Ceo's jobs does not last long but they do make enough money to compensate the rest of their life. Companies are always looking for fresh ideas.

  28. Step 1: make ppl as ignorant as possible Step 2: Take everything u can get your hands on in terms of wealth and power
    Worked well for centuries and still going strong

  29. the ONLY true freedom we have in this country is to go shopping…..everything else is in the hands of corporate shills, politicians, and the true scum of humanity..lawyers

  30. If it was not an ad to join Wolf PAC(I am or used to be)this is a great commentary, time to do a little clipping when I Post and Share…

  31. taking a look at this story today. You know, like looking back at all the older videos of a younger Bernie Sanders, you can see how consistently the voice of reason has been struggling to the surface of our society. And here we sit today, early April, 2018, right on the verge of well…either fixing this problem or, perhaps something terrible, but I can say for sure that this voice right here, Cenk, and the rest of the TYT team, they have been working tirelessly to stop this mess from happening. OF COURRRRSE! Love and respect.

  32. Evidently the young and the stupid TURKS have no idea of how much the elite in non-capitalist societies make. At least capitalists don't eat their money, they employ and pay people with their money. Communists spend money only on their protection, nothing else.

  33. This broadcast should be bumped, once a week, for eternity.
    It should be broadcast to every US citizen, on every TV & YouTube station.
    If the Dems get back into power (and don't count on it) then the first order of business has to be educating the people.

  34. Your definition of "average" is not accurate. Is your data source the SBA? What Columbia Law professor let you out onto the streets?

  35. As an answer to the Sentient Fart Cloud of Doom, I think you have a poor understanding of what we have in this country (USA). Our economy would be much better off if it were a TRUE capitalist marketplace, but you need to understand how corporations and their lackeys on the inside (100% of the GOP and maybe 30% or so of Democrats(I’m not sure, please don’t kill me)) get to rape the market due to tax loopholes, subsidies and unlawful practices that they are allowed to get away with because our government isn’t properly regulating many markets.
    What industries enjoy this “special” treatment? Oil companies, gas companies, oil pipeline owners, large construction/real estate developers, hedge fund operators and many more in the “financial services” segment. I didn’t really get many listed, you might as well look it up if you really want to know. For example, it being 2018 and post-Paul Ryan-supported tax fleecing of the poor and middle class the GOP wanted to call “tax reform.” That term is exactly what the tax bill was NOT. Look at how many donors there are and what they are after. Disgustingly, as this was only 3 years ago and Cenk said that the Koch brothers were worth $60 billion…fast forward to 2018 and they are worth $100 billion! Amazing how fast the rich get WAY richer, as they don’t need to do anything with their money except let it grow more and more while the government props up businesses that shouldn’t get help at the level they do. I’ll leave it at that, as I could go on for pages but nobody wants to read that.

  36. I've been wrong my whole life.  35, college educated with additional thousands of hours of continued education from the Society of Actuaries.  I'd have been better off spending my youth enjoying family, friends, monitoring my health and enjoying my life.  Would you take a smaller house and car for more time with loved ones and less stress?  To me…that's a no brainer.

  37. I'm not a communist nor do I believe Cuba has a better system than ours….but Cubans live longer than capitalist Americans…..think about it.

  38. Why the inequality is less in the 60s? Cold War! We need to approve that capitalism is better. Now right after the end of the Cold War, inequality went up. Not a coincidence.

  39. It's predatory capitalism, plain and simple. I've got mine,so if you don't,you must have done something wrong and tough luck.

  40. Capitalism has been a huge failure and will only get worse. There's only one alternative remaining….Bernie Sanders 2020!

  41. having vast C.E.O saleries does not get the brainiest people

    it just gets the greadiest people.

    people who will ruin an economy for an extra buck if

    if you capped C.E.O saleries at 10X there lowest paid worker

    they would have to do better for everyone in order to do better

    for themselfs (thus raising the nation)

    & you would attract C.E.Os who will work for the company

    not just themselves

  42. How can you run a political show without knowing what socialism is? Sweden is capitalist but just more strict with regulations

Leave a Reply

Your email address will not be published. Required fields are marked *