Today we continued our mind-blowing mini-series of lessons. At 1:08, we started watching videos about "O'Leary and Nick Hanauer." (Brandon Chung) "Nick Hanauer, a billionaire, is going to talk about a gap between poor and rich." (Minji Seong) He brought up some very important points, like how consumers are the ones who create jobs, though the rich would claim otherwise. The consumers are the ones who buy the most, not the rich, and having an item in high demand means that more people are going to be needed to create that item, thus, more jobs are created.
At 1:26, we discussed capital and income taxes. "Capital and income taxes are unfair!" (Chris Hsiao) The taxes on income are 35% of the money earned and the taxes on capital gains are only 15%, even though capital gains is stock, so there's really no work involved! All people do is move their money around and they barely get taxed! The people who work hard and earn their money through long hours of labor are taxed 20% more! Does that seem fair?
And of course, the tax money doesn't benefit the people it taxes very much. 39% goes towards the military and 40% goes towards the senior citizens because they vote!
At 1:47, we learned "the most important math lesson:" (Elisabeth Gomez) THE SUETA PLAN. The "minimum [wage] salary wouldn't support 1 PERSON!" (Kent Hirano) Hug your parents everyone!
-I
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