Dave explains wealth inequality with Paul

Paul is with us in California hey Paul how are you yes there are you better than I deserve what's up thank you for taking my call I just want to first off say my wife and I were out of debt because of your teachings and we agree with you and we follow your teachings and as want to say thank you on that front um but something strikes me last couple weeks and a little bit ago kind of like stuff that you've been saying about inequality of wealth or went on I just kind of have you actually like gods and you know I was like I need to talk to this guy you know what you feel like what's your position on that because I'm really struggling it's not that I'm a socialist by any means nor am i a capitalist by any means now given the state of our economy and it's kind of like where will we venture out to it's just I don't know I hear you say certain things that I know kind of spending means to be honest because I look at this stuff as you know inequality of wealth and it's not that we feel entitled but I think this capitalism has gone so far to the point where it did in 1929 now the people how to respond in a real way throughout the 30s because it seems like if capitalism doesn't have the safety valve we get to where we are today and I think a lot of people feel that way and it's coming back and when we hear like great people like you kind of like I don't know kind of top up top ilysm to the point where it's like you know it's not Jesus you know it's like I don't know I just did you hear me say we can happen alizarin was Jesus honest no no I mean I don't mean it literally like I'm saying you know to the point where it's basically three forms of economic thought and when it comes down to it no there's capitalism there's socialism there's communism you're aware of that right yeah okay and communism of course one extreme end of the spectrum capitalism on the other end the spectrum socialism hovers in the middle dangerously precariously and you're obviously a person of faith a Christian right yes okay and so I am too and so as I've studied economics from an academic viewpoint and then try to align that with my faith and I think okay what is the best form of economics because none of them can be exclusively supported scripturally correct okay but which is the form that is best for the most people right and that that's what I'm after how are the motor people served and the form that I've landed on because of that is what the theologian Novak called sanctified capitalism which is capitalism that does not have a moral component to it is not really capitalism it is more like anarchy right so how do we as a society kind of like address you know these issues on a higher I mean because obviously you know capitalism without a safety belt as a whole I mean I get it individually what you're saying right sure safety valve is the answer safety valve sounds like a government intrusion to me the safety valve I would be looking for would be the moral would be moral integrity right let me since you know glass-steagall when I was in effect I mean we don't have any pause for 50 years and all of a sudden we start deregulate and now we have these massive problems people getting you know I mean it's just getting one obviously and I as a soul soul way people getting what what did you didn't say anything you just said people getting people getting what well begging can call you well I mean you think they'll talk about capitalism competitiveness I hear that from like well why don't we get competitiveness back in the banking system where I deposit my money how about you don't touch it yeah you know they don't they won't have that and there's this anymore how about it's not just saying what do you think has caused the inequality of wealth what rule I personally I I really do believe the extreme capitalism in this country with corporate America I that what do you mean by corporate America with corporate America I mean in 2009 Verizon Pfizer these guys they pay any taxes how do you how do you not I think some of them you got to check back how does that work I like people let me ask you this if a corporation which is not a human it's an entity if it pays taxes and you as a customer of Verizon as an example or Exxon or whomever if they paid if they paid no taxes you you don't believe that in the event that someone that was running the corporation that was a reasonable person at granted there are greedy jerks out there but I don't think they're the majority like you do but the I the corporate taxation is reflected in the price of goods in other words if Verizon has to pay taxes a higher tax rate then it's going to be reflected in the higher cost of goods let me give you another example okay the company that I love the corporate the company that I own is a corporation and I 100 percent of it it's incorporated so I guess I'm corporate America I don't I don't think you meant that I'm evil corporate America like you were aiming at but I am a corporation now if you raise the taxes on that company on your basis then do you not think the cost of a Total Money Makeover book or the cost of a financial piece kit for you to attend the class is going to go up well of course there can goes up so really who paid the taxes the consumer yeah and so this I know that you're going to tax corporate America sir is mythology it's always passing we can support America thirty eight thirty fifty forty every tax rate factor but it's passed through you can see we have a class's inflation it causes inflation that's right in economy them it causes inflation inflation is on a thriving economy if your if your cost of gasoline doubles but but Exxon got their taxes doubled how did you win and how did that scatter that prevent wealth inequality by but what about as a social I mean as a social standpoint I like doesn't matter social networking about the social standpoint is you're not redistribute you're talking about yourself though like you pay the taxes for Exxon in the cost of a higher gallon of gas and that went to the government they screwed up the management of it and two cents on the dollar makes it back out into the economy and you call that a social program no I'm not saying that I'm the same why is it that these companies don't pay their fair share and we have to pay don't pay their fair share son I just explained it to you you pay it shouldn't pay you pay it it's passed through you pay it it's in the cost of goods we pay you PO really so so really we're not we're not getting a deal at Walmart you're right you're really not listen the cost of any corporate taxes are built into the cost of goods you just said that a minute ago we do so we're paying your payers axis you're paying the total so how was the wealth redistributed I'm missing this it didn't get redistributed no it's clearly not getting rich you didn't how that's what I'm saying well clearly when you raise the taxes on Walmart on Home Depot on Verizon on Exxon the wealth does not get redistributing the tax it's just paying your taxes well they're not they're not dodging taxes really they are really you really think those companies are all operating illegally are you really that nice a couple years ago they let Pfizer bring money back into the country and they follicle we're gonna being worthless today if they call they do is buy more shares than a mythical day huh who's the mythical babe they let Pfizer who's they the shareholders that the executive Sharia law allowed it yes okay yeah so Kaiser yes I totally agree yes okay so hey Mac so yeah you know your the problem is is you're looking for a boogeyman that doesn't exist honey they just don't ever but now I do my own personal life I follow your I believe I know but you want there to be an evil out there that's causing wealth inequality and my point is there's not an evil out there that it no it's not but there is we're all the things you got I just defeated it's not there okay it's just simply my way thanks for taking my con yeah I didn't really want me like I said I I like you Ida say I don't want to get an argument yeah I just clearly just want to look position and clearly I know your position now that's all I mean it what you're what hard to figure that out a long time ago because it's out there every day and see the problem it this is the problem right here with this whole wealth inequality movement there's no there's no logic in the arguments and Paul being a young guy has just believed what all his friends say and it's there's this mythical vague there's this mythical boogeyman these mythical corporate America whose corporate America it's you by the way it's who hires you to this is the Dave Ramsey show you

Channel: The Dave Ramsey Show

Views: 288,364

Rating: 4.6210527 out of 5

Keywords: dave, ramsey, radio, show, video, channel, live, call, paul, explain, wealth, inequality, money, debt, wealthy, rant, fight, argue, caller, life

Id: lUhcL61YC6g

Length: 8min 52sec (532 seconds)

Published: Thu Mar 20 2014