When it comes to American elites there's definitely no shortage of conspiracy
theories about secret organizations or shadow governments that rule the world
and you know what given everything that's on the news these days these theories are getting
harder and harder to ignore if Jeffrey Epstein really did have a secret island
dedicated to human trafficking then maybe we should take a closer look at Pizzagate
but all jokes aside the reason why these theories are so convincing is because of
hard data like this the growing gap between rich and poor Americans is one of the biggest
challenges facing the country get this the richest 1 percent controls more wealth now
than at any time in more than a half century as you can see it's no secret that u.s elites hold a
disproportionate amount of the world's wealth now whether there is or isn't some secret organization
that's controlling the world behind the scenes is not the point of this episode what we are
going to talk about is the very real power and influence of the American elites let's get to it
Hi this is Joseph Tsang and I'm the managing partner here at Tsang & Associates where we
solve legal problems with creative solutions so the elites and society can be broken down into two
groups old wealth and new wealth a good example of old wealth would be something like the crown
prince of Thailand or the Russian oligarchs or the people sitting at the top of india's
caste system now the problem about old wealth is that it generally stops the next generation
from achieving their full potential leading to a country's stagnation and that's because their
business and political ties run so deep in the country that whoever tries to overtake them or
challenge their power is probably not going to get very far the closest thing we have to old
wealth would be like the Rockefeller family but even they don't have as much of a stronghold on
u.s society as they used to and one reason why the us was able to escape the tyranny of old
wealth is because it has so much new wealth and new wealth is what the u.s is known for
old wealth tends to focus on maintaining the status quo if you're already the richest in your
society you're not really considering on making more money you just want to make sure other people
don't take it from you new wealth however is focused on the future focus on innovation focus on
the thing that got them there and to continue to move forward and that is what the u.s is known for
Not too long ago Elon musk was still taking showers at his local y while saving up for a hair
transplant and mark Zuckerberg was still trying to figure out a good way to rank Harvard undergrads
by their looks but i want to make a distinction between the wealth of the individual and the
wealth of the company of course being the CEO of a trillion dollar company gives you a lot of
global sway but even your regular billionaire has as much influence and power as that of a superhero
what are your superpowers again i'm rich so just how much power can one single billionaire wield
well we saw Bill Gates single-handedly save the world health organization or we see that Elon
Musk is trying to help all of humanity immigrate to mars and the examples can go on and on and it
really depends on whatever each billionaire sets his heart on but the key statistic that you should
pay attention to is just how many billionaires are in the u.s compared to the rest of the world you
see as of now there are roughly 2100 billionaires in existence and 614 of them live in the us
which is just under a third and not only does the u.s have the most billionaires in the world
but the average u.s billionaire is actually far richer than your average billionaire
from any other country like Jeff Bezos has more billions than all of the billionaires in Sweden
combined historically speaking there's only been a handful of families or organizations that have had
access to this kind of wealth like the medici family who essentially ruled all of Florence
during the height of the renaissance or even the Vatican itself but this was the old status quo old
wealth but today because of America's capitalistic society it has essentially given rise to a
newly minted class of billionaires many of these billionaires could rival some of those historical
figures that used to rule the world each one of these billionaires has a vision of what the
world should look like they all have their own empire that they want to protect they're like a
tony stark or a Bruce Wayne or like black panther and what do all of these billionaire superheroes
have in common there's only one place they call home and that's the competitive edge of the united
states they're able to churn out more billionaires than any other country and each one of them have
as much power and influence as another nation and they all call the united states their home would
you invade New York if all the marvel heroes and all the dc heroes were assembled there oh hell no
now as an immigration attorney i've helped many wealthy families immigrate to the U.S.
over the past decade and i always ask them why and the reason is that wealth is celebrated here
you see in other countries if you are rich other people might suspect that you got it illegally
the state might try to confiscate it you might have to hide your assets you cannot enjoy the
wealth that you earned and that's the thing that sets the us apart from these other countries
when you're driving through rodeo drive in l.a or manhattan in New York you can see that there are
entire companies and industries set up to serve the billionaire class there are nanny and butler
services that make over two hundred thousand dollars a year which is more than many CEO's
And all of this makes sense if you are the only rich dude on the block
you might be a little ashamed by using your money but when you immigrate to the us and
you're surrounded by other fellow billionaires you can finally breathe again and that's why we
see the elites from every country immigrating to the u.s and the craziest thing about all of this
is that there's so much demand for the EB-55 visa basically buying your green card that
there's actually a queue there's actually a long line to try to get in and you know
rich people hate waiting more than anything and the u.s is making them wait okay but what does all
of this mean for little old me and you well the top one percent of Americans pay roughly around 25
to 40 of all the taxes in this country that means to operate this country it's largely due to the
contributions of the billionaire class the elites and society and not just our own but the ones that
also immigrate here and those tax dollars are after depreciation and all the loopholes that
already exist in other words the billionaires and the millionaires are the profit puppies of the us
government they are incentivized to create more and arguably the us is really good at creating
them now i recognize that wealth inequality is a huge problem in our society and it doesn't
help when these elite one percent tells you that your life is already much better because
of their inventions the truth is it doesn't have to be one way or the other it can be both
when you vote democrat it doesn't mean you want to stop all economic progress and when you vote
republican it doesn't mean you're an unkind person who doesn't care about the people i believe we're
smart enough to achieve both economic progress and to improve the commonwealth and this November 3rd
you have that opportunity to pick exactly who you think can best achieve that reality thank
you for watching today's video that's episode 6 of our new series let's talk America if you like
what you saw please smash that like button and subscribe because we're releasing two new videos
every week leading up to the election that's it for now until then see ya bye!