“Why This ‘Patriotic’ Millionaire Wants to Raise Taxes on the Rich” — NowThis, 2019, 14:00 — https://www.youtube.com/watch?v=ApvxSgJ_wNo
Some wealthy people are actually against rising inequality and declining social mobility (shocking, right?). This video introduces us to a millionaire who is trying to raise taxes on the super rich. His argument is that our current system is anti-capitalist, wherein birth rather than effort determines one’s social class. He also believes raising wages will boost the economy through increased consumption. Could we label this guy a socialist? What would Karl Marx and conflict theorists say about this guy and his ideas? Is capitalism worth reforming or should we search for alternative economic models?
The arguments in this video appeal to me as a working class person, but then again, this could all be just another manifestation of the false consciousness.
From the video’s description: Stephen Prince is a multi-millionaire who made his fortune as the CEO of National Business Products, a company that manufactures plastic gift cards for retailers across the country. Unlike most millionaires, however, he is calling to reform the tax code and make the wealthy pay their fair share. By taxing the rich, Prince believes we can provide Medicare for All, mandate a living wage for workers, and eradicate income inequality. Prince got brutally honest in this video for NowThis explaining that the rich are in charge — in Congress and in the White House — and they are acting in their own interest for their own benefit. Prince believes that raising the minimum wage will increase consumption and we're better off putting money into the hands of people who will spend it in the economy than those at the top who already have plenty of money. Prince also says that the wealthy people in charge do not care if the economy improves just if they're making more money.