Okay, we're going to ride the MINI Cooper.
All you have to know is about MINI Cooper
which is the small size.
I like it have MINI Cooper.
I feel quite comfortable.
Do you know? A fairly small car.
I think the car is in proportion...
adjust our proportions, you know?
My car and I, we are like joining...
together, exploring the whole world.
>
Economic justice is,
"the problem that determines our time, and millions..."
This is a kind of gap that gives false promises in America.
There is an income gap in America.
Always happens,
and will always be there.
- The income gap increases. -... like a bull.
I think it's about envy.
About war between classes.
The inter-class war is a kind of language expected
of the leaders of the 3rd world country,
not the president of the United States. </ P>
It's true because... United States
is not the 3rd world country judging by its size,
except, maybe, income gap,
where is our rank...
worse than Ivory Coast,
worse than Cameroon...
64th!
On your face, Uruguay, Jamaica, and Uganda!
Yes.
Okay, everyone is here?
My name is Robert Reich.
I was once the labor secretary of under Bill Clinton.
Before that, I had been at Harvard.
Before that, I had been in Carter's government.
You remember... was there...
p>
You don't remember Carter's government.
Before that, I had been an aide to for Abraham Lincoln.
Those were difficult times.
>
We will face three questions.
First question, what happens
in terms of distribution of income and wealth?
Number two , why?
Number three, is that a problem?
Maybe it's not a problem.
Many of you consider yourself conservative. </ p >
Many of you consider yourself a liberal.
That name will be increasingly irrelevant
If possible, I want to shake your assumption
about why this system works.
Some gaps cannot be avoided.
If people want to have the right incentives
to be productive, work hard, be creative...
that's the essence of capitalism,
and capitalism can produce many good things.
The question is not just a gap.
The question is, when is the gap a problem?
How many gaps can we tolerate
and still have enough economy for everyone
and still have a functioning democracy? </ P>
Of all developed countries today, the United States has the most uneven
distribution of income and wealth .
And towards a greater gap.
One way to see and measure the gap
by looking at revenue people in the top
compares it with ordinary worker income.
Ordinary male workers in 1978
generated around $ 48,000, according to inflation ,
while the peak at 1% earned $ 390,000.
Now accelerated.
In 2010, ordinary male workers
p>
gets less than it does,
but the person at the top
generates more than twice as before.
At the moment 400 of the richest Americans have more wealth
than 150 million parts when put together.
400 people have more wealth
than half of the population of the United States.
Anger peaks during the economic system
and rewards have been given
but left a lot of feeling left behind.
After the economy collapsed in 2008,
the gap suddenly became headlines.
Who who wants to join 1%?
You look like one percent.
We are an incredible 1%.
Society of two camps are looking for someone to blame.
But most don't know how could this be so bad
or why.
Not until the last few years </ p >
we really understand about gaps.
We already know 10% or 20%
move in one direction
or move to another place.
But we don't know what happened in the peak,
the peak is 1%.
- Hello. - How are you? </ P>
Nice to meet you. </ P>
Several years ago, two researchers,
Emmanuel Saez and Thomas Piketty,
find different data sources.
They see IRS tax data,
not in the past few years
but returned to 1913 ,
when the income tax is institutionalized.
This shows there are two year peaks.
1928 and 2007 are the highest years for levels income,
both at the top 1% have 23% more than all income.
We know the gap is starting to increase
in the late 70s and 1980s,
but we don't know how dramatic it is
income levels have increased, especially at 1% peak.
When this study appeared in 2003,
is there for several years,
and suddenly it becomes important.
But you see they are starting to recover...
Graph this becomes very central
to explain what happened to the US economy
and, of course, what happened, and has happened to the community.
This looks like a suspension bridge.
What happened after 1928?
Big Accident.
And what happened right after 2007?
More accidents.
Amazing similarity
if you pay close attention.
Heading to the highest two years,
income becomes more focused to a handful,
rich people turn to the financial sector,
in both periods, the financial sector swells.
They focus on a number of assets:
housing, gold, speculative tools,
loan tools.
And who created bubbles speculative in both eras.
We also know that the middle class,
in both periods, their income falters,
and they keep looking for loans to maintain the standard of living.
That is what creates the loan bubble.
As you can see, in both periods,
the economy becomes unstable.
What makes the economy stable, is a strong middle class.
that is, consumers spend 70% of from the US economy.
And the middle class is the heart of consumer spending.
So the middle class is what makes > the economy is running.
There is no way to sustain long-term economic
without a strong middle class and dynamic and developing.
It can't be done.
- People are intimidated. - Right.
They can lose their jobs if...
I speak with many different groups.
Some are rich. There are working class people.
Some are conservative. Some are liberal. </ p p>
And he finally gets a full job.
Middle class society is struggling.
And has a setback.
I hear it all the time.
Everyone says that's where I am,
but I don't feel in the middle class,
because I barely get it.
Middle class it's a comfortable life
and there's no need... every week isn't a struggle.
I want to save and buy a house someday, </ p >
and you know, I haven't been able to do that
always postpone
and just try to rent it now.
How much is your income per hour?
Right now, I think it goes up to... $ 21.50.
$ 21.50 per hour.
Hello, Alberto.
I think I paid enough.
It arrived at our point of ability to pay,
you know, a condo on Olivera Road,
and we bought it.
We have what we need, our own place.
Small place, two bedrooms.
We bought it in 2004.
Around 2006, starting in 2007,
the market just fell like stone.
And shortly after that, actually,
I lost my job and was unemployed for quite a while.
Luckily we had some good friends,
and one of them says,
"Come here and stay with me."
So that's where we are now.
Go with dad
- Go with daddy. - I'm hungry.
Are you hungry?
Childcare for Paulina spends about $ 400.
It seems like I doubt whether I should send him home by himself...
buy him a cellphone and go home by himself
make sure he survives home ,
or keep paying for child care.
- Dagh. - Here, mom.
Ready?
I have $ 25 in the current account
and think about /> everything we need.
I don't have a way to communicate with Robert at the moment.
He doesn't have a cellphone, so we have to wait first.
I need to find out... we have to suffice,
You know, food on the table for children.
$ 25 in the account,
is certain...
That's not enough. </ P>
No, it's not enough. </ P>
But, I mean, it's Tuesday... Wednesday.
I will survive today.
I'll search in the kitchen, see what else can be eaten.
p>
My cache is full, so I don't have a problem with that.
When I was dismissed, I decided to
go to college and pursue my title.
Most of my classmates were much younger.
It's different when reading about it
or other people's problems. </ P>
It's different when you're in your own family. </ P>
So at home,
that might be the hardest part.
There is no official definition of from the middle class.
But Alan Krueger,
Chairman Economic Advisory Board,
This is the percentage of households
with an annual income in 50% of the average household. </ P>
$ 50,000, income on average, above 50%, under 50%.
If you are at the top 1%, you make at least $ 380,000 per year.
If you are in this group,
You may be at the top level
in the professional field, doctor or lawyer.
Higher than this group,
produces some million dollars per year,
is a successful businessman who started profitable company.
At the highest level, earning $ 10 million per year or more, </ p >
are CEOs of big companies,
Wall Street bank chiefs, entertainers,
and also sports stars.
Last year, we got $ 36,000, < br /> and we have a family of 3 people.
I might make between $ 45,000 and $ 50,000 per year
work 70 hours a week, six days a week.
Combine military income
with my personal work, maybe $ 55,000 to $ 60,000 per year.
Maybe near $ 600,000.
Usually more than $ 10 million, less than $ 30 million
but, you know, a lot, some ridiculous money.
I'm a businessman < br /> and venture capitalists.
My family has a sleeping pillow factory
from goose feathers called Pacific Coast Feather Company.
In fact, one of the biggest pillow manufacturers in the world.
Problems with increasing inequality,
people like me, who get 1000 times more
as typical of Americans,
don't buy 1000 pillows per year.
Even the richest person only sleeps on one or two pillows.
Business pillows are quite difficult,
as in most industries,
because fewer people are able to buy the products we make.
I have the best Audi that you can have,
but only one Audi.
I hate fancy food myself.
I'm more like a big bowl of pho in a local Vietnamese place
than a $ 300 dinner offer in some fancy places.
We just go out to eat several times a year.
We can get lots of haircuts in a year.
We can get..., you know...
Three pairs of jeans, you know?
It doesn't take 300 pairs.
And the problem is not from the rich
who spend too much, <
Actually, strangely, they spend too little.
They don't do full economic activity.
Someone who makes $ 10 million per year
don't spend $ 10 million.
They save it.
And their savings go everywhere all over the world.
They can make the most money , get the highest profit.
They are part of world capital markets,
including many speculative tools,
have gold and real estate and others
all that they are after.
With the exception of from investing in my personal money
when I started the company, I basically don't know
what happened to my money.
I invested in a number of funds,
and where did the funds go only God know.
But I really believe
most of the profits that are being generated
tidak menghasilkan apapun dari faedah masyarakat
Other than making a profit for me.
And we usually save money.
Saving is good, but when
we have a lot of unemployment, underused capacity
in the United States, we need spending.
Everyone must have a process of 12 units per hour.
How will we create jobs if you tax
on successful people in America
who give them jobs? </ P>
Sometimes we think that this debate about facts and counts and data.
... to raise taxes on job creators in this country...
I think if you believe that,
you are like fooling yourself.
People you call rich, I call job creators.
When someone calls themselves job creators,
they don't describe the economy
or how the economy works,
even though it sounds like that .
What they actually do is claiming
status, privilege, and power.
If someone like me is the creator employment
at the center of the economic universe,
the current economic structure moves straight and directed.
I know how comfortable trust that.
because I once believed that.
I grew up believing that.
When people are challenged with ideas,
I will say, "You just don't understand economics."
But of course if, a business person like me
is not the creator of employment... it's actually our customers
who are the creators of jobs...
we are not the center of the economic universe .
They are.
We need to replace trickle-down economics
with middle-out economics.
And, of course, every place you see on Earth
where you find prosperity, there you find massive investment
for the middle class and the poor,
because at the end of the day, they are the real job creators.
The most pro-business thing you can do
which is to help the community the middle class grow.
Okay, I'll bring the box.
This box is really important.
I'm traveling not only with the MINI Cooper
but also with my box.
Hello, George. How are you? </ P>
It's good that you want to bring a box. </ P>
We also have one for you. </ P>
In the past few years,
I know if I experience very rare genetic conditions.
Fairbanks Syndrome
makes me very short.
- Hey, Bob, let me take it. - No, no.
My parents are of normal size.
Grandma always tells me,
"Don't be afraid," because when I'm old
10 or 11 or 12, I will,
get normal growth.
And then I am 10, 11,
and nothing happens, you know?
Pass right.
Next to this.
Yap, di belakang.
I grew up during World War II.
My father went to war.
We were in the middle class.
My father sold clothes. My mom helps in the shop. </ P>
My first job in Washington worked in the summer
for Robert Kennedy. </ P>
That was the time when there was a Giants team.
Robert F. Kennedy, Martin Luther King,
they all try to change people's patterns.
A sense of possibility arises.
That led me to the world of politics.
A few years later, I took a Rhodes degree.
At that time, all Rhodes scholars
> chosen, go sailing to England.
The problem is, when you go there,
the Atlantic Ocean is quite heavy.
suffered from pain, and I went down to the cabin.
I thought I would die.
And then there was a knock on the door,
and this person is there,
the tall, tall from the South,
and he has soup in the other hand and biscuits in the other hand,
and he said, "I heard you were not feeling well.
" I thought this might help.
My name is Bill Clinton. "
At Oxford , we are in the same college.
We continue to maintain relationships.
At Oxford, I study economics and philosophy.
But that experience is really an study of organized market rules. </ P>
This is important,
the one that is most often lost,
but this is the focus of my attention.
Nothing like that can be a perfect free market anywhere.
The government sets the rules for market functions.
All these rules are needed
to build a free market.
The question is, who benefits this rule
and who loses?
And in the last 30 years ,
along with the structure of the economy is starting to shift,
many market rules are starting to shift too.
Today we will try to explain
the mystery, why the gap is expanding.
Remember, the economy grew all this time.
Economy...
The economy continues to grow.
This is the growth of gross domestic product
from 1929-2011.
The overall economy has gone very well,
and productivity continues to increase.
We produce more and more values. </ p >
That's a big success story.
But this is the problem. Here's the puzzle.
Because if you see average income per hours
of the workers,
average hourly earnings continue to increase
until the late 1970s, and then something happened,
salary equalization.
See the gap.
Something happened in the late 1970s.
Something happened in the late 1970s , brethren.
In the late 1970s,
I was at the Federal Trade Commission.
I did many studies
p>
Most about American manufacturers who started moving abroad.
It was the beginning of the technology revolution.
The financial market became a little stronger.
There is a deregulation step (rule policy).
If the point is connected, and all this
starts to look as if connected somehow
on expanding the gap.
For example, we know that trade unions have been decreasing.
And the decline reflects almost exactly
with a decrease in national income in the middle class.
The hardest part when stepping back and seeing the big picture.
Many people, even To this day,
says that the decline of trade unions was caused by
by Ronald Reagan doing air traffic control.
Strike, strike...
I have to tell them who failed to report the task this morning,
they lost their jobs and will be dismissed.
There is no doubt, that began in the late 70s
but also after Reagan fired air traffic controllers,
there have been major attacks on trade unions.
Businessmen have tried to prevent the addition of workers
to be more aggressive than before...
I will leave. You don't need to hold me back.
And the entrepreneurs try to reduce the existing workers.
Maybe they did it because they felt they had to </ p >
to maintain their competitiveness
provide opportunities for non-labor companies
di Amerika dan juga perusahaan di luar negeri.
The main underlying problem is two interrelated things:
globalization and technology.
You hear the word "globalization" over and over.
Globalization, globalization.
Rarely has the direct meaning
of unclear, becomes meaningless
without period coherence intervention.
Can anyone lend an iPhone?
Anyone has one... good.
Thank you.
I I don't have this yet,
and I really want to have one.
Where do most of your money go when buying an iPhone?
Where do you think you are?
Come on. Let's make an offer. </ P>
700 of you have a reader, which is very good. </ P>
Do you think is mostly to the United States,
some say to China,
and then some say... some say Japanese.
11 the rest think German.
This is where your money goes.
Some your money goes to Japan.
Most of it goes to Germany.
The reality is, Germany is the second biggest.
South Korea is the third, and here ,
6% of your money to the United States,
and only 3.6% of your money who goes to China.
Now, The iPhone is assembled in China.
Do you understand?
It's assembled in China,
but the assembly is pieces of
of everything all over the place.
Everything comes from everywhere.
I want my students to see it not just
the cost of salary or labor.
>
My MINI Cooper was made by a foreign company.
But where does the company headquartered
mean less in the new global economy.
Technologies such as cargo ships, containers,
satellite communication technology,
and finally computers and the internet,
this technology allows the production process and send it all over the world.
A large number of American factory workers begin to lose their jobs,
which means this starts to underestimate
wages for most American workers.
Even the remaining factories in America replace workers with automatic ones.
And we have romantic ideas that can get production back.
But you get back a production plant,
that is filled with robots and computers.
The old assembly method is gone.
I'm one of the early investors on amazon.com.
I consider amazon.com to be one
the biggest economic achievement of our time
and of course something I am very proud of.
But make no mistake: amazon.com employs 60,000 people
and generate 70-80 billion in sales.
But if mom-and-pop retailers do 70 or 80 billion in sales,
it can employ 60,000 people.
It can be up to 600,000 or 800,000 or 1 million people
because the business model is still very inefficient.
So Amazon created a huge economic fortune
in the Pacific Northwest,
but throughout the country,
there are people who don't again employed on sale of products that are not happy.
As a Circuit City manager,
I watched behind the curtain,
as manager, and watched everything work.
So when You were fired, can you expect it, or come suddenly?
They did dismissal while I worked there.
People who are already there too long:
"They make too much money because they have been there too long,
and have to do something to cut their salary."
The hardest part when thinking, "Will that happen to me?" </ P>
Until I become a student, that is very certain. </ P>
That will be easy for me, fall into depression,
as happened to many people,
or look for a job whose salary is low, who will
puts me into a worse financial condition .
Looking back, you can see the pattern.
It's not easy when you in it,
but the sign is there.
There is a big slowdown in business,
and I think a lot has to be done with things- things like Amazon.
Because I've been in retail for so long,
I don't keep the cash register automatic.
And the reason is because < > every time I guard the cashier,
it can take someone's job.
That doesn't mean I will...
save their work in long term.
But I will slow down
the transition period a little, so maybe
they can get it a little longer and get ready -Ready when switching.
Contrary to popular mythology,
globalization and technology haven't really
reduced the number of jobs available to Americans.
This change has reduced their salary.
This is not only a wage that is stalled,
but when you take consideration, there is an increase in costs... </ p >
increase in rental or home costs,
dramatically raises health care costs,
increases in child care costs,
and also increases college fees,
increase faster than inflation.
Make all of this a consideration,
and that is far worse than just wages choked up.
This is basically in the middle class family,
often with two breadwinners,
work hard and harder
and get everywhere.
I work at a law firm as a court assistant.
And Moises ?
I work as a bus operator.
Do you know how many in your bank account at this time?
I'm less than 100 dollars.
So you could say maybe $ 80.
Yes, yesterday was only $ 30.
- And that's useful. - Yes.
Car insurance, $ 125. </ P>
Child needs, $ 150. </ P>
Rent, $ 1375. </ P>
We need to record everything,
because of how maybe we don't have money?
We make money.
I work now.
We don't know how many more the must be paid.
The Y.
This is the money I donated. $ 16 per month for Children International.
We don't even pay UCSF bills.
Remember that hospital fee?
That's, around, 200 dollars more we can't even pay that.
What about savings?
We haven't been able to.
We don't have a savings account. </ P>
- I leave it because... - It's useless. </ P>
You carry gloves. </ P>
You are finished playing baseball?
He played with you?
When he was born, we didn't have money.
The fridge was empty. Freezer is empty. </ P>
I say, "This is not my way to raise a child." </ P>
- How was your day? - Good. </ P>
I've seen mothers do three jobs
hanya untuk bisa membayar sewa.
And I don't want that.
So I started school.
How do you build wealth?
Not that I want to be rich.
I'm just...
How do you do it?
How do you build wealth,
when you have nothing,
you don't have any assets, you have nothing?
This will be the mother's office. Look. </ P>
This will be my office. </ P>
Not yet become the mother's office, but will soon be the mother's office. </ P>
The community will be less concerned
about and wealth income gaps
if everyone has a chance to succeed.
As long as there is a high will,
>
as long as anyone has enough courage and take the initiative
can go up on the income ladder, so we don't have a problem.
But when the income gap increases,
high mobility is actually less than before.
- Do you want to see something else? - Yes.
In America, 42% of children born in poverty will not move.
Compared to Denmark,
where only 25% of poor children live there.
Even England,
countries who still have an aristocracy, (best government)
has higher mobility than we have.
Sometimes people tell me,
"Okay, Reich, if you think it can be done better,
" which country is better?
Who should we imitate? "
And the answer is
United States.
In the three decades after World War II, the period I called "Great Prosperity,"
the economy increased dramatically,
but not only increased the economy, but also a very low gap.
We make education a national priority,
especially college.
In 1940 , only 5% of American adults
have a 4-year bachelor's degree, but the percentage starts to rise.
GI Bill pays tuition fees for those who are returning from war,
and subsequent extensions for state universities
college is made affordable for many people.
In the late 50s, we had an educated workforce
for any country in the world. </ P>
untuk negara manapun di dunia.
Kita juga punya serikat buruh.
In the mid-1950s, more than 1/3 of the workers came from trade unions.
This gave workers the power of bidding
to get a share bigger pie.
We create the largest middle class in the world that ever existed.
And the middle class becomes part of in a good cycle.
WORKERS BUY MORE
MORE WORKING COMPANIES
TAX ADMISSION REVERSE
GOVERNMENT INVESTS MORE
EDUCATIONAL WORKERS BETTER
The wider their prosperity,
the more people who belong to that prosperity,
the more prosperity can found.
Hello.
Okay, now...
they will call in a minute.
From American Public Media,
this is the Market.
America has made it difficult for young people to attend college.
41 countries cut their budgets for college,
and tuition fees went up as a result.
One thing we have learned < br /> about the gap
that this is clearly related to education,
including college.
More than anything, that's what lifts people up
get out of poverty and occupy middle class during Great Prosperity.
But starting in the late 1970s,
college graduation rates began to be flat.
Countries that continue to focus on higher education
are able to handle globalization better
dengan menciptakan tenaga kerja yang terampil.
Look at South Korea. Look at the Netherlands. </ P>
Look at Germany. </ P>
They invested heavily in education,
in building skills on all their workers. </ P>
Even though their salary is high,
it is appropriate to make something that points to the iPhone made in Germany
because it was very well made and very precisely.
Basically, every other industrial country...
Japan, Germany, France... they invest per capita
is far more common in all fields: roads, bridges, general education.
That's what we don't do. That's what we have to do.
During for years, I've written about the importance of investing in society,
and our workforce, so that our society can compete
in the new global economy.
And in 1992, I thought finally I might be able to do something about it.
Today proudly me announce my candidacy
as president of the United States.
Bill Clinton said he had read all my books.
They must have influenced him,
>
because he became the backbone of the 1992 campaign
about prioritizing society.
If you put the community first, if you do the right thing,
what can work in the global economy,
you will do what people Germans and Japanese do,
You prioritize people first. You will expand the middle class.
Here, the person I know
and said, "Listen, Bob, I want you to come to Washington right now.
I want you to run an economic transition team."
I don't even know what an economic transition team is. </ P>
You can't imagine the headache, the pleasure. </ P>
The chance to take this idea, > practice it...
Call this economic plan Prioritize the Community
to bring my trust that
our nation can have a high salary, high economic growth
if we are committed to investing in Americans
and make the American economy prosperous.
That's why days I mentioned this one of my trusted advisors
and my closest friend
to occupy the labor secretary.
Another humility, which has assumed for months
that I was on the list Bill Clinton's short person.
You can go up, Bob . There's a footing.
Oh, there's a footing here. Okay. </ P>
This is a dream job
for someone like me, who is worried
and unsettling and learning and teaching </ p >
and write about what has happened
to American labor for years.
Long decline in median salary... salary per person right in the middle of
salary scale... the decline began in 1978.
his salary began to decline in terms of power buy dollars...
On the one hand, it's quite clear the salary is evenly distributed for most people.
On the other hand, some people in this country
is doing very well.
You see, the same new technology that brings globalization and automation
bestows great prizes on people
Well educated and connections in exploiting globalization.
Some tell me, "But wait a minute.
You have technology that you didn't have in 1980. "
We don't have flat screen TVs.
We don't have cheap air travel.
We don't have Skype.
We don't have internet.
So who wins and loses
from this big shift?
The customer is clearly the one who wins.
I mean, you guys, as a consumer,
kalian berperan dengan sangat baik. Kalian dapat produk yang indah.
Almost everything you buy gets cheaper,
and investors play a good role.
Here's a graph showing the Dow Jones industry up and down .
You can see something here.
There is a kind of pattern.
You see, something happened,
and I thought it happened < start in these years.
You see this is...
the year when I was the labor secretary.
And, investors very excited.
We all see the stock market soaring like this.
I mean, how... What is going on?
How could that be possible?
Are there companies that are suddenly profitable and
One of the big causes of the company
has many benefits, < br /> because they keep paying.
At the same time, the company CEO
starts paying large multiples of from the average income of workers.
When we, in the 4th quarter of last year,
together with a number of other companies,
need to pay attention to reduction of workforce,
it's a difficult time.
You know that you are making an impact
and will complicate it, many of them,
in finding new jobs, but you have to do it
to organize, on that day, for the sake of survival.
This graph shows the compensation
the highest paid executives in the year 2010. </ P>
These executives are paid a lot. </ P>
Executive salary continues to rise. </ P>
Here's the comparison average CEO compensation
to pay workers.
Suddenly this comparison is untold.
Bill Clinton in 1992, one of his campaign boards
stated no company should be able to reduce executive compensation costs
more than $ 1 million.
Many large executive companies raise their own salaries
even when their company loses
and its workers are threatened to enter into the unemployment line.
I hope travelers and tenants of labor
American company to know, if you sell your company
and workers and country along the river,
You will be called on the carpet.
That's what the president alluded to the pulpit. </ P>
When actually implementing it,
The Treasury Department decides that as long as the CEO pays
it is related to company performance,
you can deduct more than $ 1 million in salary.
That's the signal for executives
and for the board of directors to make more
executive payments to stock options. </ P>
That's where all stock options come from .
This is a kind of distortion of Bill Clinton's promise in the 1992 election.
Another result of all of this you got
people in the third group > which plays a very good role.
They are the ones who always have a good role,
especially in times of high inequality:
the funders.
Between 1997 and 2007,
funding was the most fast-growing part of the American economy.
In 2009, during the middle of the recession,
seven fund protection managers took over $ 1 billion per person.
Remember that the government set /> rules in the market function.
We deregulate Wall Street,
so Wall Street is involved in more behavior.
This is the sector financial wages relative to others.
Does this graph look familiar?
Here's our bridge graph,
our gap graph.
p>
The same pattern.
Meanwhile you have many workers who succumb to this big lie.
Bad government, a market that good,
Father in heaven, we thank for the food served in front of us.
Bless this food and the hand that made it.
Bless to strengthen ourselves.
Bless us today, Lord, for those who have no food.
Bless them with comfort and hope.
Amen.
Oh, it looks good.
I am registered as a Republic.
May be related to religion too,
Mormons.
The majority of Mormons.
There are rare Democrats, but most are Republicans.
I don't think of myself as a person Those who have problems in the economy.
But I'm worried about my child.
We have paid for a doctor's consultation. We have paid the dentist.
Two of my children currently don't have health insurance.
Children without health care are a big fear for us.
That is a concern my main.
I am a power plant operator.
Working in Geysers,
renewable energy sources.
Calpine is a good company .
It's good.
So why do they reduce workers and cut off leave?
The work will be more profitable
if they reduce personnel.
That is the deal.
I always pro-trade union from a philosophical point of view.
I consider myself part of the workforce.
I think workers need direction.
Companies bring anti-union consultants
and good campaigning to oppose trade unions.
Let me explain my arrival here...
Some of you are still hesitant. Some of them have come out.
There is atmosphere tension.
The underlying reality,
if workers don't have power,
if they don't have a voice,
p>
Inevitably the salary and benefits begin to erode.
That can't be avoided.
I am proud to be a Christian myself.
I'm proud to be a Calpine employee.
I think they treat me more just than they should.
If you have a company that depends on shareholders,
there is an increase and development pressure on the company
That's how capitalism is.
That's not bad.
But inevitably it means there is greater pressure
that drives salary and allowances to the minimum value.
If you are a capitalist. I'm a capitalist.
For people who make millions,
is fantastic
I can do the same thing
if I go to school and have intelligence.
I can't.
So I choose workers. </ P>
And there is a sort of burden in the company in America today that the business costs
are moving it... then go somewhere else .
But now is the richest country in the world,
and we are richer than before.
Believe me, we as a nation have played a big role,
and certain people in this country
does it better than anyone in this world
in world history.
This isn't just Calpine.
I took $ 12 / hour salary deductions.
My allowances are decreasing.
I'm on duty twice.
I run two factories, not one.
If you have $ 10 million or has $ 1 billion,
why do you want me too? </ P>
Okay? </ P>
Large companies are designed not to produce good job in the US.
Large companies are designed to make a profit.
And thanks to administrative members,
Jeff and Cass and others...
It's not a matter of error.
They have GE as Presidential Job Board.
I want to thank you to Jeff
which continues to lead in this Job Board.
GE is creating more jobs abroad
than creating jobs in the US.
So who is taking care of American workers?
Who needs American workers
GE and other large companies and Wall Street
and also a very rich person,
which basically has capital all over the world...
who has stronger politics,
who is in charge of
in Washington and in the nation's capital
that improves the welfare of the American workforce?
The answer is no one. </ P>
So why does the nation not react to the big regression
yang dimulai sekitar tahun 1980?
Why don't we take bold steps to make the economy
keep running for almost everyone?
Because we know three ways
for overcome equalization or decreased income
without reducing our relative living standards.
Remember, starting in the late 70s,
typical current salary is evenly distributed.
But lots of people buy.
How do they do that?
How can the middle class keep expenses
p>
when the salary is evenly distributed?
The first coping mechanism, starts at the end of the 70s,
that is, the woman who goes to work.
♪ Tumble out of bed and stumble to the kitchen ♪
♪ And yawn and stretch and try to come to life ♪
Young mothers work in offices in large numbers.
Never look like that, social revolution.
♪ Traffic starts jump & apos; ♪
♪ With folks like me on the jobs from nine to five ♪
♪ Working nine to five ♪
♪ What a way.... ♪
Nine to Five.
Dolly Parton? </ P>
1980. </ P>
Dolly Parton, he is only 5 feet tall.
♪ And they never give you credit ♪
♪ It & apos; s enough to drive you crazy if you let it ♪
♪ Nine to five ♪
They don't go to work because
all these wonderful professional opportunities are open to women.
Some of them work,
but that is not the main reason women go to work.
They go to work especially because they have to support
decreased family income
because of men in the family, their salaries are everywhere.
But there are limits to young mothers can go to work.
Then the second strategy was used in the 1990s
that families... both men and women... </ p >
works longer.
♪ Working nine to five ♪
♪ What a way to make a living ♪
♪ Barely getting by ♪
When I was a labor secretary, I've seen the data,
and I was amazed, then went down to the field,
go to various cities, talk to people who work, every hour...
Side jobs, third job, overtime.
If they are professional, the bill is billowing from their ears.
We work 300 hours per year more than typical Europeans.
We work hard not diligently... diligently Japanese people.
But there is a limit to how much hard you can work.
When they are tired, the handling mechanism third is lent , and become debt,
that looks easy because housing prices will rise.
For 13 years, Americans have enjoyed housing,
the longest time ever.
It's the right time to buy a house in Delray Beach.
You can get it, if you have cash ,
This is an extraordinary deal.
From mid to end of the 90s and so on,
You got this big increase in housing prices.
People say, "I can take my home loan."
"I can use the house as a guarantee," or, "I can refinance my house . "
That's what the middle class continues to do. The house is like a piggy bank.
Americans use their house as an ATM,
cashed more than $ 500 billion into home shares
from 2001-2005 to cover expenses such as medical expenses,
student loans, repairs, and credit cards .
We have loan bubbles triggered by the American middle class
who are trying to maintain living standards
in the face of stagnant salaries.
We see more customers every day,
very sad, they have entered the loan hole
which is very difficult to get out of there.
But there is a limit to how far you can do that.
It's a speculative bubble,
and it exploded in 2008.
We know what happened. And all the coping mechanisms
are middle class use, to avoid the harsh reality
that their salary went away where for 30 years,
was in line with inflation, and now it's gone.
When the middle class doesn't share in economic gain,
You enter into this bad cycle.
SALARY SALES
LESS WORKERS BUY
SAVING COMPANY
TAX RECEIPT DOWN
GOVERNMENT REDUCES PROGRAMS
LOW EDUCATIONAL WORKERS
ADDITIONAL UNEMPLOYMENT
The problem is, over the past three decades, < br /> nothing has changed fundamentally
into the form of a gap.
And that was only after in the Clinton administration
that there was an opportunity to reverse all this.
And it's really frustrating.
The Senates, I believe, are on the verge of going through a work program.
Everything is going well.
We have a surplus budget.
We can use the surplus
and give it in education and job training,
change the structure of the economy.
But there is no political will to do that.
Before I leave, I also want to say
Special thanks to my old Reich secretary,
who has fought for minimum wages.
A very beautiful day for him too, and I thank you for your efforts.
I have to say that there will be no misunderstanding.
You know, Bill Clinton did not lead
one of the best economies what we have in this country
in life's memories.
Salaries from most people go up.
Poverty is actually decreasing.
But we don't do enough.
We don't change the trend underlying it.
The pain gets to the butt.
I mean, seeing back, I'm embarrassed.
During the meeting, I was silent about...
gaps, and, "Can we see the distribution effects of this policy and that? "
I can predict.
People roll their eyes.
I'm surprised Bill Clinton keeps me around.
I want to take you up to date < > on some things.
First of all, the president has been re-elected.
The second I want to go home.
I am very glad you didn't applaud.
In the end, I left it.
Some, I'm disappointed.
Some, I don't see anything in my family
I've never seen a boy.
I told Bill Clinton, I have to go home.
I ask myself
have I failed miserably.
I often say the same thing for 30 years.
And some trends develop worse.
>
Threats to the economy and democracy are getting worse.
But I convince myself when feeling calm.
I say, close to home, nuts and bolts,
above the kitchen sink, dining table,
This is the most important for most people:
good work, salary well, good opportunities
and make a home for their child.
That's how people live.
Detective Conan O & apos; Brien </ p >
And Detective Former Minister of Manpower ?
I won't spend my adult life
by banging my head against the wall if you don't think it's the last payout
in the form of social change.
No!
dalam bentuk perubahan sosial.
Tidak!
That's why I teach.
People who are worried with the expansion of the gap
are also worried about something else.
This is not high mobility
Not even trust.
They are worried about the weakening of democracy...
when there are many resources, so much money , lots of wealth,
lots of income accumulates,
with the capacity of money who can control politics.
There is nothing cynical when it starts.
They usually bring someone who hasn't been seen for several years.
They pay him 10 thousand.
Maybe be the best man in your marriage
or who plays soccer with you. You said, "Eddie, I haven't seen you..."
Then they say, "I want to submit to the old people here..."
Then they give the whole burden.
But the money... is it lobbyists come with unspoken reality,
"We can help win the next election
if you work with us?"
There is a man in every office
saying, "Look-and-so.
" He is from the American Leather Shoes Company.
"They have maximized , " which means giving you the maximum
when you first start.
" Give the maximum in everything. "You run three times,
and they are there for you at each point. "
And for what?
Access.
This is where there is an error, < br /> and I think the mistake can be justified.
It doesn't mean that people are rich.
But they abuse wealth
by lobbying and subsidy and tax bailouts
who will entrench their wealth.
That is why the rule has changed dramatically.
Look at history.
Tax gaps and rates
have an inverse relationship.
At the lowest gap, The highest tax rate.
When the gap is highest, the tax rate on the rich decreases.
Under Dwight D. Eisenhower... he is a Republican,
nobody dares to call him a socialist...
The highest tax rate is currently 91%.
Even when you consider
all deductions and all tax credits they still pay above 50%.
I, John Fitzgerald Kennedy, swear...
I will faithfully run...
The position of president of the United States...
So help I, God.
So help me, Lord.
The highest tax is never below 70%
until Reagan drops the tax.
Read my lips.
There are no new taxes.
I, William Jefferson Clinton...
I, George Walker Bush...
>
Swear...
I, Barack Hussein Obama, swear...
In fact, most of it > the richest people in the country
don't pay close to that
because most of their income is
My total tax payment... salary tax plus income tax,
is 17.7%.
The average for offices is 32.9%.
There is no one in the office, receptionist, payment of the tax rate is low.
The tax system is leaning towards the rich
and stay away from the middle class in the last 10 years.
This is dramatic, and I don't feel it deserves to be appreciated.
What effective level have I paid for? Maybe close to 15% of anything. </ P>
Income tax Mr. Romney finally published,
and he paid 13.9%. </ P>
Nancy and I paid 33% or more. </ P>
When I was 30- Bro, and for me it's terrible.
I paid 11% last year for earning eight digits.
More or less than Mitt Romney.
When you give entrepreneurs wealth tax breaks
all for the sake of the name job creation,
everything that really happened that Fat cats are getting fatter.
And, of course, that's what happened for the last 30 years.
That's the special economic feature of for the past 30 years.
Look, nobody wants to pay taxes.
But tax is the price we pay to pay for things that we
can't do individually, what we need to do together.
There is a kind of negative trickle-down effect,
and it starts in Washington.
If the rich don't pay their share fairly
and if the middle class basically falters
and doesn't pay a lot of taxes
because they don't make a lot of money,
then you will have a budget crisis along the path.
That means less income sharing in the country.
That means the state must pull his belt.
They cannot support public colleges.
State funds for tertiary institutions decreased,
tuition fees went up to compensate. </ P>
At Berkeley, where I taught,
in the 1960s , free tuition fees.
In the 1970s, $ 700 per year, in dollars today.
But now it costs $ 15,000, for its citizens.
Next week, members of Congress
have the opportunity to choose what we call
Buffett's Rules, and that's simple.
If you make more money... more than $ 1 million per year,
not if you already have $ 1 million
but if you produce /> more than $ 1 million per year,
you have to pay at least with the same percentage
of your income in taxes as a middle class family.
He killed the economy, and this is a class war.
I think Barack Obama is a socialist.
This will only be a minimum tax on people who make lots of money.
More class wars from good millionaires.
Is he really a socialist?
Is it Warren Buffett is a socialist? </ P>
You really don't understand what is socialism, right? </ P>
The CEO and Wall Street have acted very... very well.
Why should they get sustainable tax cuts
when, in fact, we have a big deficit?
Robert Reich. Do you know Robert Reich? </ P>
Sure. He is communist. </ P>
- You know that, right? - Communist / socialist. </ P>
- Yes. Confusing. - He was confusing. </ P>
The man secretly admired Karl Marx when he was in Cambridge...
Can I explain about this? < br /> I am not, nor have I,
been a member of the Communist or Communist Party.
Many people watch Fox, and I like Fox.
I like to be with you, and I like you personally.
I used to be at O & Apos; Reilly.
Actually, I replaced Bill O & apos; Reilly several times. </ P>
Dia yang memintaku. Aku ada di Fox sudah cukup sering.
Who is with us now former minister of labor,
our good friend Robert Reich.
Secretary, how are you?
But no
They don't ask.
The American political ball field continues to move right.
I... basically just stand here.
I saw that moving.
I was once a bow.
In fact, my first assignment was in the Ford government.
Hello? </ P>
That's Republican government. </ P>
You used to think that it was conservative in the 1990s. </ P>
Yes. </ P>
You're almost the leader of Senate majority. </ P>
I could be king. </ P>
Our employees are very unhappy if we gather together. </ P>
My work says, "Don't lunch with this right wing."
- From Wyoming? - From Wyoming.
"Nothing in him."
We have created an event.
Hello, Robert. Good to see you again. </ P>
- Good night. - Yes, here. </ P>
Thank you very much. </ P>
You now consider yourself as moderate, if right-handed.
- Communists. - What happened?
They came, and brought it with them,
anti-government hatred.
And you have no opponents anymore.
You have an enemy.
There seems to be a strong relationship between polarization politics on the one hand
and expansion of economic inequality.
Researchers measure the distance of the median collection pattern between one party and another,
and what they found that when the gap was high,
You have the highest level of polarization.
The tracks are almost exactly the same.
You see how integrates and connects
the problem of inequality to our democracy .
And you see how the highest guardians of our democracy...
if Congress doesn't act...
and if the executives don't act,
the guardians who act.
In 2010, the Supreme Court in Citizens United
stated that the company was a community.
As interpreted by Citizens United in low-level courts,
the point is in companies, rich people, people who have a lot of money,
can flood political system,
can inundate our democracy with their money.
Wertheimer? </ P>
- Robert, apa kabar? - Apa kabar?
His thinking that the company could spend $ 1 billion
in the election to elect the president
and that it would not have the capacity
was influenced by corruption < br /> to the government's decision...
That's ridiculous...
That's a concept from another planet.
Money is nothing new.
>
The quantity of money is new.
In the previous presidential election,
We saw the first time in this country
the millionaires...
A handful of millionaires...
contribute a large amount of funds for individual candidates,
basically keep the candidates.
I mean , is this American?
Not in my mind.
I think this is really stupid.
it will... "Do you have $ 300 million in your pocket?
Because you can buy a president."
There are liberal millionaires. </ p >
There are conservative millionaires.
So, if you see someone buy results that you like,
other people can also buy results that will you hate
if they can give a large amount of money.
You can't have a government in the auction block.
When we see the difference between the value we share for
and the reality we live in,
that's the fundamental foundation of for social change.
You work for us!
Tea Party Movement
born after Wall Street bailouts.
We want to make sure that...
>
not only to a few people.
Its members are American citizens
who are already hot with directions in this country.
Banks can funds. We can run out.
The Occupy Movement focuses on anger
occupying Wall Street and large companies.
The White House really in the bank pocket.
This is a plutocracy, basically.
It's not about money and how much money the community has.
This is a matter the people who were not given their voting rights.
There were so many people who lost their jobs.
There were so many people who lost their homes
This is really unfair.
You have lots of people who feel like
the game is stacked on them.
- Can you hear us now? - Engineered games.
We need to find lobbyists, Goldman Sachs,
George Soros, Merrill Lynch, all of them are out of politics. </ P>
Why should they be allowed to waste millions on politicians? </ P>
They should be our voice,
not their voices.
Lose in the engineering game can cause anger.
You don't love America.
You don't love the Constitution.
You don't love anything but stupid,
arrogant, take advantage of yourself!
Health services!
Kill bills!
>
Most people are still worried with their work.
They are angry. They are frustrated. </ P>
We think Muslims are moving and taking over.
Go home!
One nation under the power of God, not God!
This trend is dangerous.
We see the community starting to fall apart.
Schools must be free. No fees!
Schools must...
Gosh.
At Cal Berkeley, After being paralyzed by the police
and disbanded from the protest site,
Massa returned to the protest today.
Who joined at Cal Berkeley today, professor Robert Reich.
Well, on campus, there is some sort of anxiety and uncertainty.
Many students don't know > if the police will come back.
The irony of all this is instead of letting people
gathered and issued their anger
on the amount of money that entered politics,
we have mayors and other officials all over the country that says,
"You can't meet.
" You can't express yourself.
"But we want to listen to money
"from the big company which now basically
is sweeping American politics."
We lost the same opportunity in America.
We lose the moral foundation
in this country and the democracy that is built.
This undermines our democracy
when all the money comes from rich people, from companies.
When there is no limit to some money... money can infect and damage
and bribe our democracy, then what do we have?
What do we have?
If you allow it personally.
Because I'm always short at my age
and always very short... /> in fact...
when I was a kid, I was even shorter...
I always got hit.
When I'm small, big boy likes to bother me.
That's what you usually do.
That's what it does.
So I got an idea < br /> to make fellowship
with older boys,
number, one or two who will be my protectors.
Summer when I was 10 years old,
one of the children who guarded me
who became a protector, his name was Michael Schwerner.
In summer & 64; I found out that Mickey
was in Mississippi registered as a voter.
And he and two other people who were with him
who signed up...
were tortured and killed.
And when I hear my guard
have been killed by real bullies...
I think that changed my life.
I have to protect people from bullies,
p>
economically hit people
or people who submit to them and their families
to real danger.
Because if you have no voice,
if you have no power,
if you are economically vulnerable in society,
You don't have anyone < br /> to protect yourself.
There is no single magic bullet
that can solve this problem.
I have written many books.
I'm not alone. Policy ideas abound.
Remember, we make economic rules.
And we have the power to change that rule.
You have to mobilize. You have to organize.
You have to give energy to others.
Politics is not out there.
>
Start here.
Today is class... our last class.
I try again.
Today is our last class.
>
Remember in the beginning,
we have seen the dynamics of wealth and poverty,
and many of you... many of you
feels a little sad after that.
And some are worried with the inevitable dynamics.
No.
The rich actually play a better role
with the economy growing faster,
when other people do better.
This is not a zero-sum game.
History is on the side positive social change:
unemployment insurance, guarantee social,
human rights, and voting rights,
environmental protection,
Environmental Protection Agency, entered into law by Richard Nixon ,
to the whole community.
Anyone of you who feels cynical
about the possibility of social progress,
just consider that we have been there .
Good. The Eagle is released.
That is like coming to you. </ P>
Kepada kalian.
You don't need to be an American president or become a labor secretary
to make a big impact.
You can become leaders
in different fields.
There are many other things that I can do.
But I choose to be here
in this course
because I believe in you.
I'm sure some of you
will change
the community, our society, even maybe the world.
One last word.
May your life be filled with enthusiasm,
and also, hopefully your days will be filled > with beauty and happiness.
May you do great things in life,
and have extraordinary things, full of enthusiasm, brilliant careers.
Thank you.
- Translated by Ikude -
He inspires me personally, to go out and make a difference
Going to Brazil working with NGOs in the Favelas.
I really know my wife... Erika wants to study too
now he knows that it's possible.
I want to be a lawyer.
I've thought about it a lot. I wrote several books about this.
If you know what to do,
I will take a day off to start it, not a revolution. </ P>
I... maybe we really need something like that.