← Back to all transcripts

How Wealth Inequality Affects You

September 24, 2025
Wealth Inequality Enough is Enough Tax Wealth Not Work Economics of Covid Rich get Richer Poor get Poorer Economics Explained Tax the Rich End Austerity Billionaire Poverty
00:00:00

When<00:00:00.480> the<00:00:00.640> super<00:00:00.960> rich<00:00:01.360> get<00:00:01.600> really<00:00:01.839> really

00:00:02

When the super rich get really really

00:00:02

When the super rich get really really rich,<00:00:02.720> it<00:00:02.879> has<00:00:03.040> an<00:00:03.200> impact<00:00:03.439> on<00:00:03.679> you.<00:00:03.919> The<00:00:04.160> rich

00:00:04

rich, it has an impact on you. The rich

00:00:04

rich, it has an impact on you. The rich getting<00:00:04.880> richer<00:00:05.200> and<00:00:05.359> richer<00:00:05.680> and<00:00:05.839> richer<00:00:06.240> and

00:00:06

getting richer and richer and richer and

00:00:06

getting richer and richer and richer and ordinary<00:00:06.879> people<00:00:07.120> owning<00:00:07.359> fewer<00:00:07.600> and<00:00:07.759> fewer

00:00:07

ordinary people owning fewer and fewer

00:00:08

ordinary people owning fewer and fewer assets<00:00:08.480> that<00:00:08.720> affects<00:00:09.040> you<00:00:09.360> because<00:00:09.760> the<00:00:10.000> rich

00:00:10

assets that affects you because the rich

00:00:10

assets that affects you because the rich are<00:00:10.719> competing<00:00:11.280> for<00:00:11.599> the<00:00:11.840> same<00:00:12.160> resources

00:00:12

are competing for the same resources

00:00:12

are competing for the same resources that<00:00:13.040> you<00:00:13.200> need.<00:00:13.599> There's<00:00:13.920> only<00:00:14.240> a<00:00:14.480> certain

00:00:14

that you need. There's only a certain

00:00:14

that you need. There's only a certain amount<00:00:15.120> of<00:00:15.679> things<00:00:15.839> in<00:00:16.080> the<00:00:16.240> economy,<00:00:16.640> only<00:00:16.800> a

00:00:16

amount of things in the economy, only a

00:00:16

amount of things in the economy, only a certain<00:00:17.119> amount<00:00:17.199> of<00:00:17.359> housing,<00:00:17.760> only<00:00:18.000> a

00:00:18

certain amount of housing, only a

00:00:18

certain amount of housing, only a certain<00:00:18.320> amount<00:00:18.480> of<00:00:18.640> education,

00:00:19

certain amount of education,

00:00:19

certain amount of education, universities,<00:00:20.240> doctors,<00:00:20.800> dentists,

00:00:21

universities, doctors, dentists,

00:00:21

universities, doctors, dentists, physical<00:00:21.760> space<00:00:22.000> in<00:00:22.160> the<00:00:22.320> cities.<00:00:22.720> As<00:00:22.880> the

00:00:23

physical space in the cities. As the

00:00:23

physical space in the cities. As the rich<00:00:23.279> get<00:00:23.439> aggressively<00:00:23.920> richer,<00:00:24.480> they<00:00:24.800> start

00:00:25

rich get aggressively richer, they start

00:00:25

rich get aggressively richer, they start to<00:00:25.279> consume<00:00:26.000> more<00:00:26.240> stuff<00:00:26.640> and<00:00:26.800> that<00:00:27.039> means

00:00:27

to consume more stuff and that means

00:00:27

to consume more stuff and that means less<00:00:27.840> stuff<00:00:28.160> for<00:00:28.400> you.<00:00:29.039> And<00:00:29.199> the<00:00:29.439> way<00:00:29.519> that<00:00:29.679> you

00:00:29

less stuff for you. And the way that you

00:00:29

less stuff for you. And the way that you see<00:00:30.000> that<00:00:30.160> is<00:00:30.400> generally<00:00:30.800> the<00:00:31.039> prices<00:00:31.359> of

00:00:31

see that is generally the prices of

00:00:31

see that is generally the prices of things<00:00:31.760> that<00:00:31.920> you<00:00:32.079> buy<00:00:32.320> going<00:00:32.559> up.<00:00:32.960> The<00:00:33.200> rich

00:00:33

things that you buy going up. The rich

00:00:33

things that you buy going up. The rich are<00:00:34.000> also<00:00:34.960> competing<00:00:35.680> with<00:00:36.000> you<00:00:36.480> for

00:00:37

are also competing with you for

00:00:37

are also competing with you for essentially<00:00:37.600> the<00:00:37.840> ownership<00:00:38.480> of<00:00:39.040> your

00:00:39

essentially the ownership of your

00:00:39

essentially the ownership of your politics,<00:00:39.920> your<00:00:40.160> politicians<00:00:40.800> and<00:00:41.040> your

00:00:41

politics, your politicians and your

00:00:41

politics, your politicians and your media.<00:00:41.760> If<00:00:42.000> your<00:00:42.239> politicians<00:00:42.719> are<00:00:42.879> getting

00:00:43

media. If your politicians are getting

00:00:43

media. If your politicians are getting paid<00:00:43.520> 100<00:00:43.840> grand<00:00:44.000> a<00:00:44.160> year,<00:00:44.719> 150<00:00:44.960> grand<00:00:45.120> a<00:00:45.360> year

00:00:45

paid 100 grand a year, 150 grand a year

00:00:45

paid 100 grand a year, 150 grand a year by<00:00:45.760> the<00:00:45.920> people<00:00:46.239> and<00:00:46.399> they<00:00:46.640> can<00:00:46.719> also<00:00:46.960> get

00:00:47

by the people and they can also get

00:00:47

by the people and they can also get paid£10<00:00:47.760> million<00:00:48.239> a<00:00:48.399> year<00:00:48.559> to<00:00:48.800> work<00:00:48.960> for<00:00:49.120> the

00:00:49

paid£10 million a year to work for the

00:00:49

paid£10 million a year to work for the rich.<00:00:49.760> Who<00:00:50.000> do<00:00:50.239> you<00:00:50.559> think<00:00:51.120> the<00:00:51.360> politicians

00:00:52

rich. Who do you think the politicians

00:00:52

rich. Who do you think the politicians really<00:00:52.399> work<00:00:52.640> for?<00:00:52.879> And<00:00:53.120> when<00:00:53.280> the<00:00:53.440> rich<00:00:53.760> are

00:00:53

really work for? And when the rich are

00:00:54

really work for? And when the rich are super<00:00:54.239> super<00:00:54.320> super<00:00:54.640> super<00:00:55.120> rich<00:00:55.600> and<00:00:55.840> your

00:00:56

super super super super rich and your

00:00:56

super super super super rich and your average<00:00:56.480> taxpayer<00:00:57.120> is<00:00:57.440> increasingly<00:00:58.399> poor,

00:00:59

average taxpayer is increasingly poor,

00:00:59

average taxpayer is increasingly poor, it<00:00:59.280> gets<00:00:59.520> harder<00:00:59.840> and<00:01:00.079> harder<00:01:00.399> and<00:01:00.640> harder<00:01:01.199> for

00:01:01

it gets harder and harder and harder for

00:01:01

it gets harder and harder and harder for you<00:01:02.079> to<00:01:02.480> compete<00:01:02.800> with<00:01:03.039> them.<00:01:03.600> You<00:01:03.840> have

00:01:03

you to compete with them. You have

00:01:04

you to compete with them. You have basically<00:01:04.320> found<00:01:04.559> yourself<00:01:04.799> in<00:01:04.960> the<00:01:05.119> same

00:01:05

basically found yourself in the same

00:01:05

basically found yourself in the same situation<00:01:06.240> that<00:01:06.960> Latin<00:01:07.360> Americans<00:01:07.760> and

00:01:07

situation that Latin Americans and

00:01:08

situation that Latin Americans and Africans<00:01:08.320> have<00:01:08.400> been<00:01:08.479> in<00:01:08.640> for<00:01:08.799> a<00:01:08.880> long<00:01:09.040> period

00:01:09

Africans have been in for a long period

00:01:09

Africans have been in for a long period of<00:01:09.360> time.<00:01:09.840> You<00:01:10.080> cannot<00:01:10.479> compete<00:01:11.040> anymore<00:01:11.600> for

00:01:11

of time. You cannot compete anymore for

00:01:11

of time. You cannot compete anymore for ownership<00:01:12.400> of<00:01:12.640> your<00:01:12.880> politicians<00:01:13.520> with<00:01:13.760> the

00:01:13

ownership of your politicians with the

00:01:13

ownership of your politicians with the super<00:01:14.159> rich.<00:01:14.560> And<00:01:14.720> I<00:01:14.880> think<00:01:14.960> this<00:01:15.200> is<00:01:15.280> this

00:01:15

super rich. And I think this is this

00:01:15

super rich. And I think this is this classic<00:01:15.920> example<00:01:16.640> of<00:01:16.960> why<00:01:17.360> inequality

00:01:18

classic example of why inequality

00:01:18

classic example of why inequality matters<00:01:18.479> for<00:01:18.720> you.