I want to get into some of the issues that we understand and misunderstand about taxes, money, wealth, and how the very, very morbidly rich in the United States have seized not only virtually complete economic power in this country but also virtually complete political power.
The countries of the world that have the most stable economies and that suffer from the smallest boom and bust cycles are the countries with the highest tax rates on the very, very wealthy. The reason for that is that the government is functioning essentially as a stabilizer, so capitalist economies, there's just a fundamental truth about them.
I've got a question for you. I find this absolutely fascinating.
The tax bill is all about cutting income to the federal government and over a 10-year period the top one percent are going to gain five trillion dollars. The bottom 99 percent are going to lose three and a half trillion dollars. And the remaining one and a half trillion dollars will be added to the national debt.
Yesterday was Break the Internet Day and a bunch of organizations all over the place are talking about the whole internet situation.
John Gray in his article from 2004 or earlier, "A Day in the Life of Joe Republican", explains eloquently the attitude of conservatives towards protecting the people from the greed of big corporations.