"A fiscal black hole is something that the government needlessly pisses away money on. For example, welfare, healthcare, and pork projects."
Ask a sensible question, get a mental answer .... a fiscal black hole is money spent on welfare and healthcare, oh yes and before I forget ...... pork projects !!
Do you know how intelligent that statement sounds .........

@Draug - you raise a very good point. I mentioned that it would change the risk people took, but let's explore this a little more.

CEO compensation packages might have fewer stock options in them to be exercised. Is this a good or a bad thing? I don't know. Maybe it will have the CEO less motivated to do his job, but maybe it will have the CEO do what is better for the company rather than what is better for the company's stock (anyone who took corporate finance will remember all those problems on structuring executive payment packages)

Since the tax on capital gains is higher, companies might now opt to give more of their rewards to taxpayers in the form of interest rather than capital gains, which partially (but not fully) negates the effect of the higher tax rate.

And then the question is - does less risk taking lead to a better system. Does it prevent speculatory bubbles from happening or decrease the size of those bubbles? Imagine what the past few years would have been like without the housing bubble of the 2000's. Does volatility lead to more efficient markets?

All interesting questions. I believe that income inequality is a major problem in the economy. I also believe that it came about via market forces but can only be fixed with government intervention. But I don't think capital gains taxes are the vehicle through which to remedy this. Maybe they can be raised a little (to 15% or so) but I don't think capital gains taxes should ever be larger than income taxes.

My cousin got charged today for going below his minimum balance. He got charged a fee for not having any money, and then he got charged a fee for not having any money to pay for the fee they charged him for not having any money.

Can't wait!

What are you, a comedian in 1990?

What's the deal with bank fees?!

AIRLINE FOOD

Dammit 2WL

The video is misleading because it mixes the terms wealth and income multiple times:
The question ask was if they thought wealth distribution in Sweden was more ideal than America. 90% of Americans said yes.

They then showed the graph for income distribution in Sweden, not wealth.

The 1% in Sweden have 73% of the wealth, and that is what the 9/10 Americans thought was more ideal then Americas.

Wealth is going to be unequal in every society because of age. If I've worked for 40 years, odds are I'm going to have tons of wealth, even if I worked minimum wage (assuming I could balance my books).

On the other hand, the college students working minimum wage jobs currently have NEGATIVE wealth, and that seriously bends the graph to make it look less equal then it actually is.

The way they bend these numbers is painfully pathetic.

Income inequality in America is a problem, but this video is a bigger problem.

@Fasces349 Wow if they're comparing unlike graphs, that's pretty dishonest, especially since they're taking advantage of people's naiveté about graphs in the first place.

Hence why its pretty bullshit