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Elizabeth Warren On 2020, Socialism And Breaking Up Big Tech | The Last Word | MSNBC

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>>> INCOME INEQUALITY >>> INCOME INEQUALITY

A VERY LITTLE, LIKE ELIZABETH A VERY LITTLE, LIKE ELIZABETH WARREN WARREN >> I SHOULDN’T BE A TONE-DEAF >> I SHOULDN’T BE A TONE-DEAF CEO BUT THE COMPANY IS DOING CEO BUT THE COMPANY IS DOING FINE FINE IT IS ABSOLUTELY OBVIOUS A BIG IT IS ABSOLUTELY OBVIOUS A BIG CHUNK HAS BEEN LEFT BEHIND

CHUNK HAS BEEN LEFT BEHIND 40% OF AMERICANS MAKE LESS THAN 40% OF AMERICANS MAKE LESS THAN $15 AN HOUR $15 AN HOUR 40% OF AMERICANS CAN’T AFFORD A 40% OF AMERICANS CAN’T AFFORD A $400 BILL WHETHER IT’S MEDICAL $400 BILL WHETHER IT’S MEDICAL OR FIXING A CAR OR SOMETHING OR FIXING A CAR OR SOMETHING LIKE THAT LIKE THAT

15% OF AMERICANS MAKE MINIMUM 15% OF AMERICANS MAKE MINIMUM WAGES WAGES 70,000 DIED FROM OPIOIDS 70,000 DIED FROM OPIOIDS SO WE’VE KIND OF BIFURCATED THE SO WE’VE KIND OF BIFURCATED THE ECONOMY

ECONOMY I’VE GOT THESE TERRIBLE THINGS I’VE GOT THESE TERRIBLE THINGS OUT THERE OUT THERE ZBLIN COME INEQUALITY HAS BECOME ZBLIN COME INEQUALITY HAS BECOME A MAJOR ISSUE IN THE DEMOCRATIC A MAJOR ISSUE IN THE DEMOCRATIC PARTY OVER THE LAST DECADE AND PARTY OVER THE LAST DECADE AND IS A MAJOR TOPIC IN THE 2020 IS A MAJOR TOPIC IN THE 2020 PRESIDENTIAL PRIMARY AND PERHAPS PRESIDENTIAL PRIMARY AND PERHAPS NO CANDIDATE HAS A MORE NO CANDIDATE HAS A MORE AMBITIOUS PLAN TO SOLVE IT THAN AMBITIOUS PLAN TO SOLVE IT THAN ELIZABETH WARREN ELIZABETH WARREN

NOW, SHE’S GOT A DIFFERENT NOW, SHE’S GOT A DIFFERENT APPROACH APPROACH SHE’S PROPOSED A 2% WEALTH TAX SHE’S PROPOSED A 2% WEALTH TAX ON THE RICHEST AMERICANS ON THE RICHEST AMERICANS IT’S NOT AN INCOME TAX

IT’S NOT AN INCOME TAX BUT A TAX ON THE NET WEALTH OF BUT A TAX ON THE NET WEALTH OF RICH INDIVIDUALS RICH INDIVIDUALS A CATEGORY THAT INCLUDES A CATEGORY THAT INCLUDES EVERYTHING FROM STOCK AND EVERYTHING FROM STOCK AND INVESTMENTS TO THE VALUE OF INVESTMENTS TO THE VALUE OF HOMES, PAINTINGS AND YACHTS HOMES, PAINTINGS AND YACHTS

AND HERE’S WHY THAT’S IMPORTANT AND HERE’S WHY THAT’S IMPORTANT NEW ANALYSIS OUT THIS WEEK FROM NEW ANALYSIS OUT THIS WEEK FROM THE TAX POLICY CENTER SHOWS THAT THE TAX POLICY CENTER SHOWS THAT THE VAST MAJORITY OF AMERICANS THE VAST MAJORITY OF AMERICANS GET MOST OF THEIR MONEY FROM GET MOST OF THEIR MONEY FROM WAGES AND SALARY AND ONLY A WAGES AND SALARY AND ONLY A LITTLE BIT OF THEIR MONEY FROM LITTLE BIT OF THEIR MONEY FROM WEALTH OR CAPITAL GAINS, WHICH WEALTH OR CAPITAL GAINS, WHICH INCLUDES THINGS LIKE INVESTMENTS INCLUDES THINGS LIKE INVESTMENTS OR THE VALUE OF YOUR HOME OR THE VALUE OF YOUR HOME AND IS TAXED AT A LOWER RATE AND IS TAXED AT A LOWER RATE THAN WAGES AND SALARY

THAN WAGES AND SALARY BUT IF YOU LOOK AT THE TOP 001% BUT IF YOU LOOK AT THE TOP 001% OF AMERICA, IT’S THE OPPOSITE OF AMERICA, IT’S THE OPPOSITE

THE TOP TENTH OF THE TOP 1%, THE TOP TENTH OF THE TOP 1%, MOST OF THEIR MONEY COMES FROM MOST OF THEIR MONEY COMES FROM WHAT THEY EARN OFF OF THEIR WHAT THEY EARN OFF OF THEIR CAPITAL, WHICH IS TAXED AT A CAPITAL, WHICH IS TAXED AT A MUCH LOWER RATE IF AT ALL MUCH LOWER RATE IF AT ALL WHILE A MUCH SMALLER PORTION OF WHILE A MUCH SMALLER PORTION OF THEIR WEALTH, SOMETIMES NONE AT THEIR WEALTH, SOMETIMES NONE AT ALL, COMES FROM THE HIGHER-TAXED ALL, COMES FROM THE HIGHER-TAXED WAGES AND SALARY WAGES AND SALARY IN OTHER WORDS, TAXING WEALTH IS IN OTHER WORDS, TAXING WEALTH IS ONE WAY TO CURB INCOME ONE WAY TO CURB INCOME INEQUALITY

INEQUALITY SO THE QUESTION IS WHETHER THIS SO THE QUESTION IS WHETHER THIS NEWLY CONCERNED CITIZEN, JAMIE NEWLY CONCERNED CITIZEN, JAMIE DIMON-L GET BEHIND HIS FORMER DIMON-L GET BEHIND HIS FORMER RIVAL’S PLAN TO SOLVE THE RIVAL’S PLAN TO SOLVE THE PROBLEM PROBLEM >> SENATOR ELIZABETH WARREN >> SENATOR ELIZABETH WARREN JOINS ME NOW JOINS ME NOW

SENATOR, GOOD TO SEE YOU SENATOR, GOOD TO SEE YOU THANK YOU FOR BEING WITH US THANK YOU FOR BEING WITH US >> GOOD TO SEE YOU

>> GOOD TO SEE YOU I’M DELIGHTED TO BE HERECINATED I’M DELIGHTED TO BE HERECINATED ATTENTION BANKERS GET WHEN THEY ATTENTION BANKERS GET WHEN THEY SAY THINGS MOST OF US CAN SEE SAY THINGS MOST OF US CAN SEE WITH OUR EYES, THAT WE HAVE WITH OUR EYES, THAT WE HAVE INCOME INEQUALITY AND WE HAVE A INCOME INEQUALITY AND WE HAVE A BANK — WE HAVE A BIFURCATED BANK — WE HAVE A BIFURCATED ECONOMY ECONOMY

YOU HAVE A PROPOSAL AS TO HOW TO YOU HAVE A PROPOSAL AS TO HOW TO DEAL WITH THAT OR AT LEAST HOW DEAL WITH THAT OR AT LEAST HOW TO TAKE SOME OF THAT WEALTH AND TO TAKE SOME OF THAT WEALTH AND DO THINGS THAT WOULD MAKE US DO THINGS THAT WOULD MAKE US FEEL LESS BIFURCATED FEEL LESS BIFURCATED TELL US WHY YOU THINK THAT’S TELL US WHY YOU THINK THAT’S GOING TO WORK GOING TO WORK >> SO LOOK, YOU’VE DESCRIBED THE >> SO LOOK, YOU’VE DESCRIBED THE WEALTH TAX

WEALTH TAX THIS IS THE TAX ON THE TOP 1/10 THIS IS THE TAX ON THE TOP 1/10 OF 1% OF 1% AND HERE’S WHAT WE COULD AND HERE’S WHAT WE COULD ACTUALLY DO WITH THAT MONEY ACTUALLY DO WITH THAT MONEY

WE COULD ACTUALLY INVEST IT IN WE COULD ACTUALLY INVEST IT IN BUILDING MORE OPPORTUNITY FOR BUILDING MORE OPPORTUNITY FOR EVERYONE ELSE EVERYONE ELSE IN FACT, I’LL GIVE YOU AN IN FACT, I’LL GIVE YOU AN EXAMPLE OF THIS THAT’S VERY EXAMPLE OF THIS THAT’S VERY PERSONAL TO ME PERSONAL TO ME YEARS AGO I HAD A LITTLE ONE AT YEARS AGO I HAD A LITTLE ONE AT HOME, NOT YET 2 YEARS OLD, AND I HOME, NOT YET 2 YEARS OLD, AND I DECIDED I WANTED TO GO BACK TO DECIDED I WANTED TO GO BACK TO SCHOOL

SCHOOL AND THAT’S A GOOD THING, RIGHT? AND THAT’S A GOOD THING, RIGHT? I MANAGED ALL OF IT, THE I MANAGED ALL OF IT, THE TUITION, THE APPLICATION, THE TUITION, THE APPLICATION, THE TESTS, EVERY PART OF IT TESTS, EVERY PART OF IT YOU KNOW WHERE I NEARLY STUBBED YOU KNOW WHERE I NEARLY STUBBED MY TOE? MY TOE? I CAME DOWN TO THE LAST WEEKEND I CAME DOWN TO THE LAST WEEKEND BEFORE CLASSES STARTED TRYING TO BEFORE CLASSES STARTED TRYING TO FIND CHILDCARE THAT WAS GOOD AND FIND CHILDCARE THAT WAS GOOD AND AFFORDABLE AFFORDABLE

SO FINALLY I FIND IT, IT ALL SO FINALLY I FIND IT, IT ALL LOCKS INTO PLACE LOCKS INTO PLACE ROLL FORWARD JUST A LITTLE BIT ROLL FORWARD JUST A LITTLE BIT IN TIME, AND I GET MY FIRST REAL IN TIME, AND I GET MY FIRST REAL TENURE TRACK TEACHING JOB TENURE TRACK TEACHING JOB NOW I’VE GOT TWO LITTLE ONES NOW I’VE GOT TWO LITTLE ONES UNDER FOOT

UNDER FOOT I’M WORKING MY HEART OUT I’M WORKING MY HEART OUT I’M DOING EVERYTHING I CAN I’M DOING EVERYTHING I CAN

I’M EXCITED I’M EXCITED I LOVE THIS JOB I LOVE THIS JOB I WORK MYSELF INTO THE DIRT AT I WORK MYSELF INTO THE DIRT AT NIGHT

NIGHT WHAT’S THE PART THAT NEARLY WHAT’S THE PART THAT NEARLY KNOCKS ME OVER? KNOCKS ME OVER? IT’S WHEN THE BABYSITTER QUITS IT’S WHEN THE BABYSITTER QUITS >> YEAH >> YEAH

>> AND THEN WE CYCLE THROUGH ONE >> AND THEN WE CYCLE THROUGH ONE AFTER ANOTHER AFTER ANOTHER ON AFTER ANOTHER AFTER ANOTHER ON CHILDCARE UNTIL FINALLY MY AUNT CHILDCARE UNTIL FINALLY MY AUNT BEA CALLS ME AND IT’S LATE AT BEA CALLS ME AND IT’S LATE AT NIGHT NIGHT SHE SAYS HOW ARE YOU DOING, SHE SAYS HOW ARE YOU DOING, HONEY? HONEY? AND I START TO CRY AND SAY I’M AND I START TO CRY AND SAY I’M GOING TO QUIT BECAUSE I JUST GOING TO QUIT BECAUSE I JUST CAN’T DO THIS ANYMORE BECAUSE I CAN’T DO THIS ANYMORE BECAUSE I CAN’T KEEP THE CHILDCARE HELD CAN’T KEEP THE CHILDCARE HELD TOGETHER TOGETHER HERE’S THE THING THAT I THINK HERE’S THE THING THAT I THINK ABOUT

ABOUT HERE I AM NOW, I ENDED UP AS A HERE I AM NOW, I ENDED UP AS A COLLEGE PROFESSOR, I WROTE 11 COLLEGE PROFESSOR, I WROTE 11 BOOKS, I STARTED AN AGENCY, I BOOKS, I STARTED AN AGENCY, I BECAME A UNITED STATES SENATOR, BECAME A UNITED STATES SENATOR, AND TWICE I NEARLY GOT AND TWICE I NEARLY GOT COMPLETELY DERAILED BY COMPLETELY DERAILED BY CHILDCARE CHILDCARE HOW MANY WOMEN OF MY GENERATION HOW MANY WOMEN OF MY GENERATION JUST GOT KNOCKED OFF THE TRACKS? JUST GOT KNOCKED OFF THE TRACKS? HOW MANY OF MY DAUGHTER’S HOW MANY OF MY DAUGHTER’S GENERATION HAVE BEEN KNOCKED OFF GENERATION HAVE BEEN KNOCKED OFF THEIR TRACKS? THEIR TRACKS? HOW MANY MAMAS AND DADDIES TODAY HOW MANY MAMAS AND DADDIES TODAY ARE GETTING KNOCKED OFF THE ARE GETTING KNOCKED OFF THE TRACKS? TRACKS? UNDERSTAND THIS UNDERSTAND THIS

THE WEALTHY, THEY BUY TOP-NOTCH THE WEALTHY, THEY BUY TOP-NOTCH CHILDCARE AND TOP-NOTCH EARLY CHILDCARE AND TOP-NOTCH EARLY EDUCATION EDUCATION PRE-K AND PRE-PRE-K AND PLAY PRE-K AND PRE-PRE-K AND PLAY GROUPS FOR 2-YEAR-OLDS GROUPS FOR 2-YEAR-OLDS YOU KNOW, IF WE DID THAT ULTRA YOU KNOW, IF WE DID THAT ULTRA MILLIONAIRE’S WEALTH TAX, WE MILLIONAIRE’S WEALTH TAX, WE COULD THEN AFFORD TO PROVIDE COULD THEN AFFORD TO PROVIDE HIGH-QUALITY CHILDCARE FOR EVERY HIGH-QUALITY CHILDCARE FOR EVERY SINGLE CHILD IN AMERICA 0 TO 5 SINGLE CHILD IN AMERICA 0 TO 5 AND THE PREK AND THE PREPRE-K AND THE PREK AND THE PREPRE-K EARLY CHILDHOOD EDUCATION, AWFUL EARLY CHILDHOOD EDUCATION, AWFUL THEM, AND STILL HAVE $3 TRILLION THEM, AND STILL HAVE $3 TRILLION LEFT OVER TO INVEST IN OTHER LEFT OVER TO INVEST IN OTHER OPPORTUNITIES

OPPORTUNITIES >> AND THAT CHILDCARE IS >> AND THAT CHILDCARE IS SOMETHING — SOMETHING — >> THAT’S THE REAL POINT >> THAT’S THE REAL POINT WE COULD DO BETTER WE COULD DO BETTER

>> IT’S SOMETHING THAT EVERY >> IT’S SOMETHING THAT EVERY OTHER DEVELOPED NATION DOES OTHER DEVELOPED NATION DOES BETTER THAN THE UNITED STATES BETTER THAN THE UNITED STATES >> YES >> YES >> I WANT TO TALK TO YOU ABOUT >> I WANT TO TALK TO YOU ABOUT YOUR PLAN

YOUR PLAN YOU AND I SPOKE BRIEFLY ABOUT YOU AND I SPOKE BRIEFLY ABOUT THIS THE OTHER DAY ON THIS THE OTHER DAY ON TECHNOLOGY TECHNOLOGY THE AFOREMENTIONED JAMIE DIMON THE AFOREMENTIONED JAMIE DIMON ALSO SAID TODAY ON CNBC THAT ALSO SAID TODAY ON CNBC THAT TECH GIANTS SHOULD GIRD TECH GIANTS SHOULD GIRD THEMSELVES FOR THE TYPE OF THEMSELVES FOR THE TYPE OF REGULATORY ONSLAUGHT THAT THE REGULATORY ONSLAUGHT THAT THE BIG BANKS EXPERIENCED AFTER THE BIG BANKS EXPERIENCED AFTER THE FINANCIAL CRISIS FINANCIAL CRISIS

"THEY HAVEN’T HAD THE BENEFIT OF "THEY HAVEN’T HAD THE BENEFIT OF THE FULL MONTY YET, DIMON SAID THE FULL MONTY YET, DIMON SAID IF I WERE THEM, I’D BE GETTING IF I WERE THEM, I’D BE GETTING PREPARED FOR IT" PREPARED FOR IT" THERE ARE A NUMBER OF PEOPLE THERE ARE A NUMBER OF PEOPLE WHO’VE SAID THAT YOUR PROPOSAL WHO’VE SAID THAT YOUR PROPOSAL FOR MANAGING THE WAY LARGE TECH FOR MANAGING THE WAY LARGE TECH COMPANIES BEHAVE IS ONE WORTHY COMPANIES BEHAVE IS ONE WORTHY OF DESCRIPTION

OF DESCRIPTION YOU WERE TALKING ABOUT COMPANIES YOU WERE TALKING ABOUT COMPANIES LARGELY THAT HAVE MORE THAN $25 LARGELY THAT HAVE MORE THAN $25 BILLION IN REVENUE NOT BEING BILLION IN REVENUE NOT BEING BOTH THE PIPE AND THE STUFF THAT BOTH THE PIPE AND THE STUFF THAT GOES THROUGH THE PIPE GOES THROUGH THE PIPE NOT BEING BOTH THE PLATFORM AND NOT BEING BOTH THE PLATFORM AND THE COMPETITOR THE COMPETITOR

>> RIGHT >> RIGHT THAT’S EXACTLY RIGHT THAT’S EXACTLY RIGHT SO THINK OF A COMPANY LIKE SO THINK OF A COMPANY LIKE AMAZON

AMAZON YOU KNOW, EVERYBODY GOES TO BUY YOU KNOW, EVERYBODY GOES TO BUY AND SELL ON AMAZON AND SELL ON AMAZON THAT’S THE PLATFORM THAT’S THE PLATFORM

AND THEN AMAZON DOES SOMETHING AND THEN AMAZON DOES SOMETHING REALLY SPECIAL REALLY SPECIAL THEY NOT ONLY RUN THE PLATFORM THEY NOT ONLY RUN THE PLATFORM THEY GATHER INFORMATION FROM THEY GATHER INFORMATION FROM EVERY ONE OF THOSE TRANSACTIONS

EVERY ONE OF THOSE TRANSACTIONS EVERY BUYER, EVERY SELLER EVERY BUYER, EVERY SELLER AND THEN THEY DISCOVER THAT AND THEN THEY DISCOVER THAT PETE’S PET PILLOWS IS MAKING A PETE’S PET PILLOWS IS MAKING A BIG PROFIT AND AMAZON LOOKS AT BIG PROFIT AND AMAZON LOOKS AT THAT AND SAYS, HMM, WE COULD DO THAT AND SAYS, HMM, WE COULD DO THAT THAT

SO WHAT DO THEY DO? SO WHAT DO THEY DO? THEY JUMP IN FRONT OF PETE’S PET THEY JUMP IN FRONT OF PETE’S PET PILLOWS, MOVE PETE BACK TO PAGE PILLOWS, MOVE PETE BACK TO PAGE 6 ON YOUR SEARCH, JUMP IN AND 6 ON YOUR SEARCH, JUMP IN AND TAKE THE PROFITS FOR THEMSELVES TAKE THE PROFITS FOR THEMSELVES NOW, MY VIEW ON THIS IS YOU CAN NOW, MY VIEW ON THIS IS YOU CAN BE THE UMPIRE BE THE UMPIRE THAT IS, YOU CAN RUN THE THAT IS, YOU CAN RUN THE PLATFORM, OR YOU CAN HAVE A TEAM PLATFORM, OR YOU CAN HAVE A TEAM IN THE GAME

IN THE GAME THAT IS, YOU CAN BE ONE OF THE THAT IS, YOU CAN BE ONE OF THE COMPETITORS BUYING AND SELLING COMPETITORS BUYING AND SELLING ON THAT PLATFORM ON THAT PLATFORM BUT YOU DON’T GET TO DO BOTH AT BUT YOU DON’T GET TO DO BOTH AT THE SAME TIME THE SAME TIME

BECAUSE IF YOU’RE DOING BOTH AT BECAUSE IF YOU’RE DOING BOTH AT THE SAME TIME THAT’S NOT HELPING THE SAME TIME THAT’S NOT HELPING COMPETITION COMPETITION IT’S WIPING OUT COMPETITION IT’S WIPING OUT COMPETITION IT’S WHY A LOT OF INVESTORS NOW IT’S WHY A LOT OF INVESTORS NOW IN TECH, THE EARLY INVESTORS, IN TECH, THE EARLY INVESTORS, THEY REFER TO THE ZONES AROUND THEY REFER TO THE ZONES AROUND COMPANIES LIKE AMAZON AND COMPANIES LIKE AMAZON AND GOOGLE

GOOGLE THEY CALL IT THE DEAD ZONE THEY CALL IT THE DEAD ZONE BECAUSE IT MEANS SOMEBODY STARTS BECAUSE IT MEANS SOMEBODY STARTS TO GROW A BUSINESS IN THERE, TO GROW A BUSINESS IN THERE, THEN AMAZON, GOOGLE, FACEBOOK THEN AMAZON, GOOGLE, FACEBOOK JUST REACHES OUT AND SNATCHES UP JUST REACHES OUT AND SNATCHES UP THE BUSINESS THE BUSINESS AND THAT’S NOT — THAT DOESN’T AND THAT’S NOT — THAT DOESN’T PROMOTE COMPETITION PROMOTE COMPETITION

SO I THINK THEY OUGHT TO BE SO I THINK THEY OUGHT TO BE BROKEN APART BROKEN APART RUN THAT PLATFORM RUN THAT PLATFORM YOU CAN STILL GO ONLINE AND YOU CAN STILL GO ONLINE AND SEARCH FOR 28 COFFEEMAKERS THAT SEARCH FOR 28 COFFEEMAKERS THAT CAN BE DELIVERED IN 24 HOURS

CAN BE DELIVERED IN 24 HOURS BUT BREAK THAT UP FROM THE PART BUT BREAK THAT UP FROM THE PART ABOUT RUNNING A BUSINESS THAT ABOUT RUNNING A BUSINESS THAT COMPETES ON THAT PLATFORM COMPETES ON THAT PLATFORM >> I WANT TO ASK YOU ABOUT >> I WANT TO ASK YOU ABOUT SOMETHING THAT’S FROM YOUR SOMETHING THAT’S FROM YOUR CAMPAIGN ANNOUNCEMENT OF THE CAMPAIGN ANNOUNCEMENT OF THE BREAK-UP BILL BREAK-UP BILL

YOU SAID PLATFORM UTILITIES YOU SAID PLATFORM UTILITIES LET’S CALL THEM THAT LET’S CALL THEM THAT "WOULD BE REQUIRED TO MEET A "WOULD BE REQUIRED TO MEET A STANDARD OF FAIR, REASONABLE, STANDARD OF FAIR, REASONABLE, AND NON-DISCRIMINATORY DEALING AND NON-DISCRIMINATORY DEALING WITH USERS

WITH USERS PLATFORM UTILITIES WON BE PLATFORM UTILITIES WON BE ALLOWED TO TRANSFER OR SHARE ALLOWED TO TRANSFER OR SHARE DATA WITH THIRD PARTIES" DATA WITH THIRD PARTIES" THIS IS THE CONCERN THAT A LOT THIS IS THE CONCERN THAT A LOT OF INDIVIDUALS HAVE, RIGHT? OF INDIVIDUALS HAVE, RIGHT? THE COMMODITIZATION AND THE THE COMMODITIZATION AND THE MONETIZATION OF YOUR MONETIZATION OF YOUR INFORMATION INFORMATION

IT’S PROBABLY A BIGGER CONCERN IT’S PROBABLY A BIGGER CONCERN THAN THE PRIVACY CONCERNS WE THAN THE PRIVACY CONCERNS WE THINK WITH, WHICH ARE VERY, VERY THINK WITH, WHICH ARE VERY, VERY SERIOUS IN AND OF THEMSELVES SERIOUS IN AND OF THEMSELVES YOU’RE TRYING TO FIGURE OUT A YOU’RE TRYING TO FIGURE OUT A WAY THAT HE CAN BETTER CONTROL WAY THAT HE CAN BETTER CONTROL OF OR THEY CAN HAVE LESS CONTROL OF OR THEY CAN HAVE LESS CONTROL OF OUR DATA OF OUR DATA >> THAT’S EXACTLY RIGHT

>> THAT’S EXACTLY RIGHT IT’S ABOUT DATA AND THE USES, IT’S ABOUT DATA AND THE USES, THE UNFAIR COMPETITIVE ADVANTAGE THE UNFAIR COMPETITIVE ADVANTAGE IT GIVES THEM, AND THAT WE DON’T IT GIVES THEM, AND THAT WE DON’T WANT THEM CALLING THE REST OF WANT THEM CALLING THE REST OF THE SHOTS IN THE ECONOMY THE SHOTS IN THE ECONOMY AND BY THE WAY, YOU KNOW, WE AND BY THE WAY, YOU KNOW, WE HAVE A LONG HISTORY OF THIS IN HAVE A LONG HISTORY OF THIS IN THE UNITED STATES THE UNITED STATES

WAY BACK WHEN, MORE THAN 100 WAY BACK WHEN, MORE THAN 100 YEARS AGO WHEN WE SAID IN EFFECT YEARS AGO WHEN WE SAID IN EFFECT TO THE RAILROAD COMPANIES, HEY, TO THE RAILROAD COMPANIES, HEY, GUYS, YOU DON’T GET TO RUN A GUYS, YOU DON’T GET TO RUN A RAILROAD COMPANY AND OWN THE RAILROAD COMPANY AND OWN THE STEEL BUSINESS THAT NEEDS TO STEEL BUSINESS THAT NEEDS TO TRANSSHIP THEIR GOODS ON THE TRANSSHIP THEIR GOODS ON THE RAILROAD RAILROAD AND ALSO, YOU DON’T GET TO AND ALSO, YOU DON’T GET TO CHARGE DISCRIMINATORY PRICES, CHARGE DISCRIMINATORY PRICES, THAT IS, PREFER ONE SELLER OVER THAT IS, PREFER ONE SELLER OVER ANOTHER SELLER ANOTHER SELLER WHEN YOU’RE OUT THERE RUNNING A WHEN YOU’RE OUT THERE RUNNING A PLATFORM, WHETHER IT’S A PLATFORM, WHETHER IT’S A RAILROAD OR AN ONLINE EXCHANGE, RAILROAD OR AN ONLINE EXCHANGE, YOU HAVE A DUTY OF FAIR DEALING YOU HAVE A DUTY OF FAIR DEALING TO EVERYBODY WHO COMES TO BUY TO EVERYBODY WHO COMES TO BUY AND SELL ON THAT PLATFORM OR TO AND SELL ON THAT PLATFORM OR TO MOVE GOODS ALONG THAT PLATFORM

MOVE GOODS ALONG THAT PLATFORM THE IDEA IS IN AMERICA IF WE THE IDEA IS IN AMERICA IF WE REALLY WANT TO HAVE MARKETS THAT REALLY WANT TO HAVE MARKETS THAT WORK THEY’VE GOT TO BE MARKETS WORK THEY’VE GOT TO BE MARKETS WITH RULES, MARKETS WITHOUT WITH RULES, MARKETS WITHOUT RULES ARE THEFT, AND THEY’VE GOT RULES ARE THEFT, AND THEY’VE GOT TO BE MARKETS THAT HELP TO BE MARKETS THAT HELP COMPETITION GET A CHANCE TO GROW COMPETITION GET A CHANCE TO GROW AND FLOURISH AND FLOURISH I THINK OF WHAT I’M TALKING I THINK OF WHAT I’M TALKING ABOUT IS FOR ALL OF THE LITTLE ABOUT IS FOR ALL OF THE LITTLE BUSINESSES THAT WANT TO GROW BUSINESSES THAT WANT TO GROW INTO MEDIUM SIZE AND BIG INTO MEDIUM SIZE AND BIG BUSINESSES FOR ALL THE THE BUSINESSES FOR ALL THE THE ENTREPRENEURS THAT HAVE A GREAT ENTREPRENEURS THAT HAVE A GREAT IDEA AND WANT A CHANCE TO GET IDEA AND WANT A CHANCE TO GET OUT THERE AND COMPETE OUT THERE AND COMPETE

FOR ALL OF THE PEOPLE WHO REALLY FOR ALL OF THE PEOPLE WHO REALLY BELIEVE THAT MARKETS ARE PLACES BELIEVE THAT MARKETS ARE PLACES WHERE THOSE WHO HAVE GOOD IDEAS WHERE THOSE WHO HAVE GOOD IDEAS GET TO MOVE FORWARD GET TO MOVE FORWARD THAT’S WHAT OUR ANTITRUST LAWS THAT’S WHAT OUR ANTITRUST LAWS ARE ABOUT ARE ABOUT AND THAT’S WHERE WE NEED TO AND THAT’S WHERE WE NEED TO UPDATE THEM

UPDATE THEM >> OKAY >> OKAY THAT’S JUST SOME OF MY THAT’S JUST SOME OF MY CONVERSATION WITH ELIZABETH CONVERSATION WITH ELIZABETH WARREN FROM EARLIER WARREN FROM EARLIER

WHAT SHE HAD TO SAY ABOUT WHAT SHE HAD TO SAY ABOUT SOCIALISM, ALEXANDRIA >>> WE’RE BACK WITH MORE OF MY >>> WE’RE BACK WITH MORE OF MY INTERVIEW WITH DEMOCRATIC INTERVIEW WITH DEMOCRATIC PRESIDENTIAL CANDIDATE ELIZABETH PRESIDENTIAL CANDIDATE ELIZABETH WARREN, WHERE I ASKED HER ABOUT WARREN, WHERE I ASKED HER ABOUT HER STANCE ON SOCIALISM AND THE HER STANCE ON SOCIALISM AND THE DEMOCRATIC PARTY’S RISING STAR, DEMOCRATIC PARTY’S RISING STAR, ALEXANDRIA OCASIO-CORTEZ ALEXANDRIA OCASIO-CORTEZ >> "TIME" MAGAZINE’S GOT >> "TIME" MAGAZINE’S GOT ALEXANDRIA OCASIO-CORTEZ ON THE ALEXANDRIA OCASIO-CORTEZ ON THE FRONT COVER, SOMETHING THAT A FRONT COVER, SOMETHING THAT A LOT OF CONSERVATIVE NEWS LOT OF CONSERVATIVE NEWS CHANNELS AND WEBSITES, THEY’RE CHANNELS AND WEBSITES, THEY’RE SORT OF TARGETING THE IDEA THAT SORT OF TARGETING THE IDEA THAT SHE REPRESENTS A SOCIALISM THAT SHE REPRESENTS A SOCIALISM THAT THEY THINK IS EMBRACING THE THEY THINK IS EMBRACING THE DEMOCRATIC PARTY OR THAT THE DEMOCRATIC PARTY OR THAT THE DEMOCRATIC PARTY AND SOME DEMOCRATIC PARTY AND SOME CANDIDATES ARE EMBRACING CANDIDATES ARE EMBRACING ONE OF THE THINGS, THE ONE OF THE THINGS, THE CRITICISMS THAT YOU GET, IS THAT CRITICISMS THAT YOU GET, IS THAT YOU’RE ANTI-CAPITALIST

YOU’RE ANTI-CAPITALIST WHERE DO YOU POSITION YOURSELF WHERE DO YOU POSITION YOURSELF AND WHAT DO YOU EXPLAIN TO AND WHAT DO YOU EXPLAIN TO PEOPLE? PEOPLE? BECAUSE IN YOUR YEARS OF TRYING BECAUSE IN YOUR YEARS OF TRYING TO GET FAIR TREATMENT OF TO GET FAIR TREATMENT OF CONSUMERS, WITH THE CONSUMER CONSUMERS, WITH THE CONSUMER FINANCIAL PROTECTION BUREAU, FINANCIAL PROTECTION BUREAU, SOMEHOW THAT PUT YOU UP AGAINST SOMEHOW THAT PUT YOU UP AGAINST THE BANKS AND THAT CAUSED YOU TO THE BANKS AND THAT CAUSED YOU TO BE DESCRIBED AS ANTI-CAPITALIST BE DESCRIBED AS ANTI-CAPITALIST >> YOU KNOW, IT’S WRONG >> YOU KNOW, IT’S WRONG

WHAT I BELIEVE IS I BELIEVE IN WHAT I BELIEVE IS I BELIEVE IN MARKETS AND I BELIEVE IN WHAT MARKETS AND I BELIEVE IN WHAT MARKETS CAN PRODUCE MARKETS CAN PRODUCE IF THEY HAVE RULES AND A COP ON IF THEY HAVE RULES AND A COP ON THE BEAT TO ENFORCE THOSE RULES THE BEAT TO ENFORCE THOSE RULES SO I’M GLAD TO SEE PEOPLE ABLE SO I’M GLAD TO SEE PEOPLE ABLE TO GO OUT AND GET MORTGAGES

TO GO OUT AND GET MORTGAGES BUT WE SAW WHAT HAPPENED BEFORE BUT WE SAW WHAT HAPPENED BEFORE THE CRASH WHEN THERE WERE NO THE CRASH WHEN THERE WERE NO RULES AND THERE WAS NO COP ON RULES AND THERE WAS NO COP ON THE BEAT TO ENFORCE ANY RULES THE BEAT TO ENFORCE ANY RULES AND THAT MEANT THAT THE GIANT AND THAT MEANT THAT THE GIANT BANKS COULD FIGURE OUT THEY BANKS COULD FIGURE OUT THEY COULD MAKE A BAZILLION DOLLARS COULD MAKE A BAZILLION DOLLARS IN PROFITS BASICALLY BY CHEATING IN PROFITS BASICALLY BY CHEATING PEOPLE PEOPLE

THAT’S NOT GOING TO WORK THAT’S NOT GOING TO WORK AND THAT’S CAPITALISM THAT WILL AND THAT’S CAPITALISM THAT WILL DESTROY ITSELF DESTROY ITSELF WHAT I BELIEVE IN IS I BELIEVE WHAT I BELIEVE IN IS I BELIEVE IN MARKETS

IN MARKETS YOU’VE GOT TO HAVE A COP ON THE YOU’VE GOT TO HAVE A COP ON THE BEAT TO MAKE SURE EVERYBODY’S BEAT TO MAKE SURE EVERYBODY’S PLAYING ON A LEVEL PLAYING PLAYING ON A LEVEL PLAYING FIELD FIELD THAT NOBODY IS BUILDING A THAT NOBODY IS BUILDING A BUSINESS MODEL AROUND CHEATING BUSINESS MODEL AROUND CHEATING PEOPLE, AROUND RIPPING THEM OFF, PEOPLE, AROUND RIPPING THEM OFF, AROUND TRICKING THEM AND AROUND TRICKING THEM AND TRAPPING THEM TRAPPING THEM

AND LOOK, THERE ARE SOME PLACES AND LOOK, THERE ARE SOME PLACES MARKETS JUST DON’T WORK MARKETS JUST DON’T WORK PUBLIC EDUCATION PUBLIC EDUCATION YOU KNOW, I’M A FORMER YOU KNOW, I’M A FORMER SCHOOLTEACHER

SCHOOLTEACHER I WAS A SPECIAL NEEDS TEACHER I WAS A SPECIAL NEEDS TEACHER WE NEED PUBLIC EDUCATION WE NEED PUBLIC EDUCATION

IT’S NOT A PLACE FOR MARKETS IT’S NOT A PLACE FOR MARKETS MUCH OF OUR HEALTH CARE SYSTEM MUCH OF OUR HEALTH CARE SYSTEM YOU KNOW, SOMEBODY’S HAVING THE YOU KNOW, SOMEBODY’S HAVING THE FIRST SIGNS OF A HEART ATTACK, FIRST SIGNS OF A HEART ATTACK, THEY’RE NOT GOING TO MAKE FIVE THEY’RE NOT GOING TO MAKE FIVE PHONE CALLS TO SEE WHO CAN DEAL PHONE CALLS TO SEE WHO CAN DEAL MOST EFFECTIVELY WITH A HEART MOST EFFECTIVELY WITH A HEART ATTACK AND AT WHAT PRICE

ATTACK AND AT WHAT PRICE THERE ARE PLACES WHERE MARKETS THERE ARE PLACES WHERE MARKETS DON’T WORK DON’T WORK AND THAT MEANS WE’VE GOT TO STEP AND THAT MEANS WE’VE GOT TO STEP IN AND FIND OTHER WAYS TO MAKE IN AND FIND OTHER WAYS TO MAKE SURE THAT PEOPLE GET WHAT IT IS SURE THAT PEOPLE GET WHAT IT IS THAT THEY NEED, AN EDUCATION, THAT THEY NEED, AN EDUCATION, HEALTH CARE HEALTH CARE

BUT THERE ARE A LOT OF PLACES BUT THERE ARE A LOT OF PLACES WHERE MARKETS CAN WORK IF THEY WHERE MARKETS CAN WORK IF THEY HAVE RULES HAVE RULES AND HERE’S THE PROBLEM AND HERE’S THE PROBLEM BIG FINANCIAL INSTITUTIONS, THEY BIG FINANCIAL INSTITUTIONS, THEY DIDN’T LIKE THOSE RULES

DIDN’T LIKE THOSE RULES THEY SPENT MORE THAN A MILLION THEY SPENT MORE THAN A MILLION DOLLARS A DAY LOBBYING AGAINST DOLLARS A DAY LOBBYING AGAINST THE CONSUMER AGENCY AND OTHER THE CONSUMER AGENCY AND OTHER FINANCIAL REGULATIONS FINANCIAL REGULATIONS WELL, THAT’S A PROBLEM WE’VE GOT WELL, THAT’S A PROBLEM WE’VE GOT RIGHT NOW RIGHT NOW

WASHINGTON WORKS GREAT FOR GIANT WASHINGTON WORKS GREAT FOR GIANT COMPANIES COMPANIES IT WORKS GREAT FOR THE RICH AND IT WORKS GREAT FOR THE RICH AND THE POWERFUL THE POWERFUL IT’S JUST NOT WORKING FOR IT’S JUST NOT WORKING FOR EVERYONE ELSE

EVERYONE ELSE SO WE’VE GOT TO GET IN THERE, SO WE’VE GOT TO GET IN THERE, WE’VE GOT TO HAVE A GOVERNMENT WE’VE GOT TO HAVE A GOVERNMENT THAT HELPS US LEVEL THE PLAYING THAT HELPS US LEVEL THE PLAYING FIELD, MAKES SURE EVERYBODY’S FIELD, MAKES SURE EVERYBODY’S PLAYING ON THE STRAIGHT UP PLAYING ON THE STRAIGHT UP AND WHEN WE DO THAT, WE CREATE AND WHEN WE DO THAT, WE CREATE MORE OPPORTUNITY FOR EVERYONE MORE OPPORTUNITY FOR EVERYONE ELSE ELSE

LOOK, THE GIANTS MAY NOT LIKE LOOK, THE GIANTS MAY NOT LIKE IT IT THEY DON’T WANT TO TURN LOOSE OF THEY DON’T WANT TO TURN LOOSE OF THEIR POWER AND THEIR THEIR POWER AND THEIR EXTRAORDINARY PROFITS THEY KEEP EXTRAORDINARY PROFITS THEY KEEP SUCKING UP SUCKING UP BUT THIS IS HOW WE MAKE OUR BUT THIS IS HOW WE MAKE OUR GOVERNMENT WORK

GOVERNMENT WORK THIS IS HOW WE MAKE OUR COUNTRY THIS IS HOW WE MAKE OUR COUNTRY WORK WORK THAT’S WHAT I THINK IT SHOULD BE THAT’S WHAT I THINK IT SHOULD BE ALL ABOUT IN THE US

ALL ABOUT IN THE US >> SO WHAT DO YOU SAY PRIVATELY, >> SO WHAT DO YOU SAY PRIVATELY, PRETEND WE’RE NOT ON TV, ABOUT PRETEND WE’RE NOT ON TV, ABOUT PEOPLE WHO WORRY ABOUT THE PEOPLE WHO WORRY ABOUT THE DIRECTION IN WHICH THE DIRECTION IN WHICH THE DEMOCRATIC PARTY MAY BE GOING? DEMOCRATIC PARTY MAY BE GOING? SOME OF THE PARTY WANTS SOME OF THE PARTY WANTS CANDIDATES TO BE MORE LIBERAL CANDIDATES TO BE MORE LIBERAL AND OTHERS WANT THE CANDIDATES AND OTHERS WANT THE CANDIDATES TO BE MORE MODERATE TO BE MORE MODERATE WHAT’S YOUR TAKE ON THAT? WHAT’S YOUR TAKE ON THAT? >> LET ME GIVE YOU A DIFFERENT >> LET ME GIVE YOU A DIFFERENT WAY TO LOOK AT IT

WAY TO LOOK AT IT I WANT OUR PARTY TO BE MORE I WANT OUR PARTY TO BE MORE GRASSROOTS GRASSROOTS I WANT OUR PARTY TO BE MORE I WANT OUR PARTY TO BE MORE CONNECTED TO PEOPLE ALL ACROSS CONNECTED TO PEOPLE ALL ACROSS THIS COUNTRY THIS COUNTRY

AND I’LL TELL YOU HOW I LOOK AT AND I’LL TELL YOU HOW I LOOK AT THAT THAT I LOOK AT THAT IN TERMS OF I LOOK AT THAT IN TERMS OF MONEY MONEY SO FOR EXAMPLE, I DON’T TAKE PAC SO FOR EXAMPLE, I DON’T TAKE PAC MONEY OF ANY KIND

MONEY OF ANY KIND I DON’T TAKE WASHINGTON LOBBYIST I DON’T TAKE WASHINGTON LOBBYIST MONEY OF ANY KIND MONEY OF ANY KIND AND I’VE MADE THE DECISION THAT AND I’VE MADE THE DECISION THAT I’M GOING TO SPEND MY TIME WITH I’M GOING TO SPEND MY TIME WITH GRASSROOTS ALL AROUND THIS GRASSROOTS ALL AROUND THIS COUNTRY TRYING TO BUILD A COUNTRY TRYING TO BUILD A MOVEMENT MOVEMENT

NOW, THAT’S A DIFFERENT WAY NOW, THAT’S A DIFFERENT WAY TO TRY TO POWER A POLITICAL TO TRY TO POWER A POLITICAL CAMPAIGN, TO TRY TO POWER A CAMPAIGN, TO TRY TO POWER A PRESIDENTIAL CAMPAIGN PRESIDENTIAL CAMPAIGN IT MEANS THAT I NEED HELP

IT MEANS THAT I NEED HELP I’VE GOT TO REACH OUT TO A LOT I’VE GOT TO REACH OUT TO A LOT OF PEOPLE AND SAY PLEASE JOIN OF PEOPLE AND SAY PLEASE JOIN ME, COME TO ELIZABETHWARRENCOM ME, COME TO ELIZABETHWARRENCOM AND KICK IN FIVE BUCKS IF YOU AND KICK IN FIVE BUCKS IF YOU THINK THAT’S HOW A CAMPAIGN THINK THAT’S HOW A CAMPAIGN SHOULD WORK SHOULD WORK

BECAUSE I THINK AS A DEMOCRATIC BECAUSE I THINK AS A DEMOCRATIC PARTY WE HAVE THIS EXTRAORDINARY PARTY WE HAVE THIS EXTRAORDINARY OPPORTUNITY DURING A PRIMARY TO OPPORTUNITY DURING A PRIMARY TO ACTUALLY MAKE OUR CASE TO PEOPLE ACTUALLY MAKE OUR CASE TO PEOPLE AT THE GRASSROOTS TO ENGAGE THEM AT THE GRASSROOTS TO ENGAGE THEM AND TO REVITALIZE OUR DEMOCRACY AND TO REVITALIZE OUR DEMOCRACY THEY SHOULDN’T JUST BE ABOUT THEY SHOULDN’T JUST BE ABOUT GOING TO PLACES WHERE WE CAN GOING TO PLACES WHERE WE CAN SCOOP UP LOTS OF MONEY AND THEN SCOOP UP LOTS OF MONEY AND THEN RUN LOTS OF TV ADS RUN LOTS OF TV ADS THIS SHOULD BE ABOUT BUILDING THIS SHOULD BE ABOUT BUILDING THE ON THE GROUND MOVEMENT THE ON THE GROUND MOVEMENT THAT’S GOING TO HELP US WIN IN THAT’S GOING TO HELP US WIN IN 2020, THAT’S GOING TO HELP US 2020, THAT’S GOING TO HELP US WIN NOT JUST THE WHITE HOUSE BUT WIN NOT JUST THE WHITE HOUSE BUT CONGRESS, THE STATE HOUSES, THE CONGRESS, THE STATE HOUSES, THE GOVERNOR’S MANSIONS, AND THAT’S GOVERNOR’S MANSIONS, AND THAT’S GOING TO HELP US HAVE THE POWER GOING TO HELP US HAVE THE POWER TO BE ABLE TO START MAKING REAL TO BE ABLE TO START MAKING REAL CHANGE IN THIS COUNTRY COME CHANGE IN THIS COUNTRY COME JANUARY 2021

Source: Youtube

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