America's Wealth Divide - Robert Reich

  • Aired:  11/19/13
  •  | Views: 51,570

Robert Reich offers his views on how a more equitable economy could benefit everyone, from the poor to the wealthiest one percent. (4:17)

(LAUGHTER)THE POINT IS I'M CHOOSING TO

BELIEVE THAT INCOME INEQUALITYISN'T AS BIG A DEAL AND DOESN'T

NEED TO CHANGE.

HERE TO TELL ME IT IS A BIG DEALAND NEEDS TO CHANGE IS FORMER

LABOR SECRETARY FOR PRESIDENTCLINTON AND STAR OF THE NEW

DOCUMENTARY "INEQUALITY FOR ALL"ROBERT REICH.

MR. REICH, THANK YOU SO MUCH FORJOINING US.

(CHEERS AND APPLAUSE)YOU WERE ON THE SHOW ABOUT THREE

YEARS AGO SOUNDING THE ALARMWARNING IF WE DIDN'T DO

SOMETHING IT WOULD TANK ECONOMYOR CAUSE A REVOLUTION.

THREE YEARS LATER I'M RICHERTHAN EVER.

I ASSUME YOU'RE BACK HERE TOAPOLOGIZE.

>> NO, I DIDN'T TELL YOU EXACTLYWHEN IT WOULD TANK THE ECONOMY

AND CAUSE A REVOLUTION.

I SAID IF WE CONTINUE IN THESAME DIRECTION IT'S DANGEROUS

FOR THE ECONOMY AND DANGEROUSFOR OUR DEMOCRACY AND I STILL

THINK IT IS VERY DANGEROUS.

>> Stephen: HOW DID IT CAUSE ANECONOMIC COLLAPSE?

I DON'T UNDERSTAND WHY ME HAVINGALL THE MONEY IS A BAD THING.

>> MOST AMERICANS, THE VASTMIDDLE-CLASS AND THE POOR DON'T

THE PURCHASING POWER TO THEECONOMY GOING WHICH IS WHY THIS

RECOVERY IS THE MOST ANEMICRECOVERY ON RECORD.

>> Stephen: HOW LONG UNTIL THISREACHES A CRISIS POINT?

IF WE HOLD OFF LONG ENOUGH I MAYHAVE ENOUGH MONEY TO START MY

OWN ECONOMY AND BLOW THIS ONEOFF.

>> WELL, SOME PEOPLE ARE SOWEALTHY THAT THEY ARE LEAVING

THE UNITED STATES AND THEY ARESETTING UP TAX HAVENS ABROAD AND

THEY ARE IN EFFECT SETTING UPTHEIR OWN ECONOMY.

>> Stephen: AND WHERE ARE THEYGOING?

CAN YOU GIVE ME A LIST OF ANYPLACES?

JUST GENERAL IDEAS?

>> WHY DON'T YOU TRY THENETHERLANDS.

THAT MIGHT BE A GOOD PLACE.

BUT MOST AMERICANS AND MOSTPEOPLE AND MOST COUNTRIES ARE

STAYING PUT AND THEY RELY ON ANECONOMY THAT'S GROWING FOR

EVERYBODY.

WE DID HIT IN THE THREE DECADESAFTER THE SECOND WORLD WAR,

THERE'S NO REASON WE CANNOT DOIT AGAIN.

>> Stephen: WHOSE FAULT IS THIS?

IS THIS OBAMA'S FAULT?

>> IT IS NOT OBAMA'S FAULT.

>> Stephen: OBAMACARE.

I MEANT OBAMACARE.

IS IT OBAMACARE'S FAULT?

>> NO, THIS IS NOT THE PART OFOBAMACARE.

THE PROBLEM HERE HAS BEENGROWING FOR THREE DECADES.

WE DIDN'T RECOGNIZE IT BECAUSEWE BASICALLY TURNED OUR BACKS ON

THE PROBLEM.

>> Stephen: AS A RICH PERSON,I'M GETTING A LITTLE SCARED THAT

THE POORS MAY COME AND TAKE WHATI HAVE THERE'S ONLY 1% OF US.

WE'RE AN OPPRESSED MINORITY.

>> STEPHEN, DO NOT BE SCARED.

IF, IN FACT, WE HAVE A MOREEQUITABLE SOCIETY WHERE MORE

PEOPLE HAVE A CHANCE TO MAKE IT,WHERE THERE'S A WIDER CIRCLE OF

PROSPERITY YOU ARE GOING TO DOBETTER, I GUARANTEE IT.

>> Stephen: THAT A MONEY-BACKGUERIN SEE IN

>> I'M NOT GOING TO GIVE YOU ANYMONEY BACK, NO.

>> Stephen: WHAT IF THE POOR ORMIDDLE-CLASS HAD SOMETHING THAT

WE RICH PEOPLE WANTED TO BUY?

YOU KNOW?

SURELY THEY HAVE PLENTIFULORGANS AND DAUGHTERS.

ISN'T THERE SOMETHING THAT WECOULD PURCHASE FROM THEM SO THEY

CAN GET MONEY?

>> YES, WELL, YOU COULD PURCHASE-- WE COULD HAVE A HIGHER

MINIMUM WAGE, FOR EXAMPLE, ANDMORE PEOPLE WOULD HAVE MORE

MONEY IN THEIR POCKETS TO TURNAROUND AND BUY STUFF WHICH WOULD

ACTUALLY MAKE YOU AND OTHERSLIKE YOU EVEN BETTER.

>> Stephen: WHAT'S THE ANSWER INTEN WORDS OR LESS-- AND DO NOT

MAKE ANY OF THEM THE WORD"TAXES.

(LAUGHTER)>> INVEST MORE AND BETTER IN OUR

SCHOOLS AND IN HIGHER EDUCATION.

GET BIG MONEY OUT OF POLITICS.

AND TRY TO GET MORE REVENUESFROM THE RICH.

>> Stephen: IS MORE THAN FAIR.

(LAUGHTER)>> I'LL DO IT AGAIN.

GET MORE REVENUES FROM THE VERYRICH, USE IT FOR BETTER SCHOOLS

AND HIGHER EDUCATION AND GET BIGMONEY OUT OF POLITICS.

>> Stephen: YOU'VE GOT KNOWTHAT'S MORE THAN TEN TWICE NOW.

THE THAT'S JUST ANOTHER TAX ANDTALK TOO MUCH LIBERAL.

>> GET BIG MONEY -- HOW ABOUTGET BIG MONEY OUT OF POLITICS?

>> Stephen: GET BIG MONEY OUT OFPOLITICS.

OKAY, AS LONG AS YOU'RE NOTGETTING BIG MONEY OUT OF ME.

WELL, MR. REICH, THANK YOU SOMUCH FOR JOINING ME TONIGHT.

ROBERT REICH, EVERYBODY.

(CHEERS AND APPLAUSE)

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