IN SWEDEN THEY HAVE A DIFFERENT MODEL THAN WE DO IN
THE U.S., I'M TOLD BY THE RIGHT-WING IN AMERICA OF COURSE
IT CAN'T WORK, IT'S BECAUSE THEY ARE SOCIALISTS.
SOCIALISTS ARE
DANGEROUS.
IF YOU GO AROUND REDISTRIBUTING THE WEALTH AND
SHARING IT WITH THE MIDDLE CLASS AND THE POOR, THAT WILL DESTROY
YOUR ECONOMY.
LET'S FIND OUT IF THAT IS TRUE.
SWEDEN ACTUALLY
PUT A VERY LEFT-WING GOVERNMENT IN POWER IN 2014, THERE ECONOMY
WAS STRUGGLING, I BET THEY TANKED IT, RIGHT?
LET'S FIND
OUT.
BLOOMBERG EXPLAINS --
NOW, SHE SAYS THAT'S HER RECIPE FOR SUCCESS, BUT IS IT
TRUE?
WELL --
I MEAN, I'M TOLD BY NOT JUST THE RIGHT-WING IN THIS COUNTRY
BY ALL THE MEDIA THAT YOU CANNOT DO THAT.
YOU LOWER TAXES TO
STIMULATE THE ECONOMY.
RAISING TAXES WILL KILL
THE ECONOMY,
WHAT ARE YOU DOING?
AND WELFARE, UGH.
LET'S FIND OUT --
WHAT HAPPENED?
I THOUGHT IT WAS SUPPOSED TO KILL THE
ECONOMY.
IT TURNED OUT IT ACTUALLY POWERED THE ECONOMY.
IT
MADE IT GROW MUCH FASTER THAN IT WAS BEFORE, AND MUCH FASTER THAN
IT IS GROWING HERE IN AMERICA.
THEY DOUBLED US, I THOUGHT WE
WERE NUMBER ONE.
AT SOME POINT NOW RECENTLY THEIR GDP IS
GROWING AROUND 4%.
WHEN AMERICAN POLITICIANS TALK ABOUT GROWING
AT 4% THEY ARE DISMISSED, RIGHTFULLY SO IN THIS CONTEXT IN
AMERICA, AS MAKING OUTLANDISH STATEMENTS THAT ARE NOT REMOTELY
POSSIBLE IN THE AMERICAN CONTEXT.
TURNS OUT THEY COULD BE
POSSIBLE IF WE RAISED TAXES.
AND I KNOW YOU'VE BEEN BRAINWASHED
BY TV FOR SO LONG -- NO, THE RICH HAVE TO HAVE EVERYTHING, IF
THEY HAVE EVERYTHING IT WILL TRICKLE DOWN TO YOU AND MAYBE
YOU WILL GET SOMETHING.
IF YOU RAISE TAXES IT WILL DESTROY
EVERYTHING.
IT'S JUST NOT TRUE.
YOU KNOW WHAT HAPPENS WHEN YOU
HAVE A MORE EQUAL DISTRIBUTION OF WEALTH?
PEOPLE IN THE LOWER
ECONOMIC BRACKETS HAVE MORE MONEY.
YOU KNOW WHAT PEOPLE IN
LOWER ECONOMIC BRACKETS DO?
THEY SPEND THE MONEY BECAUSE THEY
DON'T HAVE A CHOICE.
THEY HAVE TO EAT, THEY HAVE TO HAVE
CLOTHES FOR THE KIDS, THEY IMMEDIATELY SPEND IT.
AND THAT'S
NOT A BAD THING, IT GOES BACK INTO THE ECONOMY AND CIRCULATES,
IT HELPS YOUR ECONOMY, THAT'S WHY YOU HAVE A HIGHER GDP AND
HIGHER ECONOMIC SUCCESS.
WHEN YOU GIVE MASSIVE TAX CUTS TO THE
VERY WEALTHY, THEY DON'T SPEND IT.
THEY PUT IT IN THEIR BANK
ACCOUNT.
THEY MIGHT BUY A YACHT OR A MANSION HERE OR THERE, BUT
OVERALL THE BILLIONS THAT THEY HAVE, THEY LARGELY SAVE IT AND
DON'T PUT IT BACK IN THE ECONOMY.
IT'S A LOSING STRATEGY.
WHEN WE WERE ACTUALLY NUMBER ONE -- 1950S, 1960S, THE ERA THAT
THE RIGHT-WING IN THIS COUNTRY SAYS WAS A GOLDEN ERA -- YOU
KNOW HOW HIGH THE TOP MARGINAL TAX RATE WAS IN
AMERICA?
OFTENTIMES IT WAS 70%, AT SOME TIMES IT WAS AT 90%.
THAT DIDN'T APPLY TO EVERYONE, IT DOESN'T MEAN THEY WILL TAKE
90% OF YOUR MONEY.
THEY HAD A LOT OF DIFFERENT BRACKETS AND IF
YOU WERE AT AN ASTRONOMICAL NUMBER IT WOULD BE FOR 90% OF
WHATEVER WAS ABOVE THAT NUMBER.
I'M NOT SAYING WE HAVE TO GO TO
90% OR EVEN 70%, BUT WHAT I AM TELLING YOU IS WHEN WE HAD HIGH
MARGINAL TAX RATES WE HAD A BOOMING ECONOMY.
WHEN SWEDEN HAS
A HIGH MARGINAL TAX RATE THEY HAVE A BOOMING ECONOMY.
BUT I
KNOW ANOTHER THING THE RIGHT-WING SAYS -- IT WILL TURN
THEM INTO BUMS.
NOBODY WILL WORK ANYMORE.
LET'S FIND OUT IF
THAT'S TRUE --
SEE, IT'S NOT SOME SORT OF LEFT-WING CONSPIRACY.
OH, I
RAISE YOUR TAXES AND I TAKE THE MONEY AND THEY CONTROL YOUR LIFE
WITH IT.
NO, THEY TAKE THE MONEY AND PUT IT INTO THINGS LIKE
HEALTHCARE SO YOU DON'T DIE, EDUCATION SO YOUR KIDS HAVE AS
MUCH CHANCE AS ANY RICH KID DOES, AND PARENTAL CARE AND
DAYCARE SO THAT YOU CAN ACTUALLY LEAVE YOUR KIDS IN DAYCARE AND
GO TO WORK.
AND GUESS WHAT HAPPENS, MORE PEOPLE GO TO WORK.
I KNOW, REVOLUTIONARY.
EVERY ONCE IN A WHILE THE RIGHT-WING
HERE, AND THE MEDIA AIDS AND ABETS THEM, WILL SAY, DO YOU
WANT TO BE LIKE SWEDEN?
KINDA.
SOUNDS PRETTY GOOD.
BUT GUYS,
COME ON, LET'S BE FAIR.
WHEN YOU DO ALL THIS TAXING AND SPENDING
AND DO A RECORD AMOUNT OF WELFARE, IT WILL DESTROY YOUR
BUDGET, RIGHT?
OUR BUDGET IS A DISASTER, WE KEEP CUTTING TAXES,
WE HAVE GIANT DEFICITS AND ENORMOUS DEBT, SO SWEDEN MUST BE
IN WORSE SHAPE, RIGHT?
LET'S FIND OUT --
OH, IT TURNS OUT ALL OF THOSE
TALKING POINTS BY CONSERVATIVES
IN AMERICA WERE MYTHS.
THEY LIED TO YOU THROUGH AND THROUGH.
AND
WHEN CONFRONTED WITH ALL OF THIS DATA, YOU KNOW WHAT THEY WILL
SAY.
THEY PROBABLY ALREADY SAID IT IN THE COMMENTS SECTION.
THAT'S NOT FAIR BECAUSE SWEDEN IS SO HOMOGENEOUS.
IT'S NOT LIKE
AMERICA WHERE WE HAVE A LOT OF DIFFERENT RACES THAT MIX.
YOU
KNOW WHAT THAT MEANS -- SWEDEN IS ALL WHITE.
THEY ARE NOT
LETTING REFUGEES IN OR ANYTHING LIKE THAT.
THAT'S THE RIGHT
IDEA.
NOT THERE TAX OR ECONOMIC POLICY, WHICH WOULD ACTUALLY
AFFECT THEIR TAXES AND THEIR BUDGET AND THEIR ECONOMY -- NO.
LET'S TURN IT ABOUT RACE.
THE ONE THING WE KNOW IS THAT SWEDEN
IS NOT ALLOWING REFUGEES BECAUSE THE KEY TO THEIR SUCCESS IS THAT
THEY ARE HOMOGENEOUS.
EXCEPT FOR THE FACT THAT THEY HAVE, QUOTE
--
NOT OUTFLOWS, INFLOWS.
THEY'VE DONE EVERYTHING THE RIGHT-WING
HERE IN AMERICA TELLS YOU NOT TO DO.
THEY BROUGHT IN A RECORD
NUMBER OF REFUGEES, THEY DID RECORD NUMBERS IN WELFARE,
RECORD TAX INCREASES, AND YOU KNOW WHAT THEY GOT?
THEY GOT A
BOOMING ECONOMY THAT IS GROWING AT TWICE THE RATE OF THE
AMERICAN ECONOMY, THEY GOT SURPLUSES, THEY HAVE MORE PEOPLE
WORKING, AND THEY HAVE A SOCIETY THAT WORKS.
TELL ME AGAIN ABOUT
HOW DANGEROUS THE SWEDISH ECONOMIC SYSTEM IS?
PERHAPS WE
SHOULD OPEN OUR EYES AND THINK ABOUT OTHER OPTIONS.
OPTIONS
THAT ACTUALLY WORK.
YOUNG TURKS.