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Good many subscribers thank you so much for joining me today i am jeremy and this is the financial education channeling today we’re talking about a subject capitalism versus socialism and i’m going to kind of give you guys some comparison points to kind of explain the difference between the two and we’re going to look over some statistics today that i think are going
To make everybody that’s watching this video you’re going to feel better about yourself after watching this video i can almost guarantee you’re here to feel a lot better after yourself after watching this video and i madness one of my ipad like prepped out and whatnot for like two months and i just haven’t gotten around to doing it i’m like you know what finally
I’m going to do is capitalism versus socialism video i’m kind of comparing the two and those kinds of things guys so i hope you enjoy this today hit that thumbs up button if you do and let’s get into this guy so first off let’s explain capitalism capitalism is an economic or air excuse me an economic and political system in which the countries trade in industry
Are controlled by private owners for profit and rather by then the state so basically simple way of explain that is if i make a million dollars from my business next year write that in a straight capitalistic system then that million dollars is mine that’s not a didn’t belong to somebody else the world should not view that as their money also that’s my money in a
Straight capitalistic system that’s the way it works and by the way something our point out it’s almost impossible to find a straight capitalistic system it’s almost impossible to find a straight socialist system almost every single country out there has some capitalistic qualities to it and some socialistic qualities to it maybe they’re a little more leaning towards
The social side maybe they’re a little more a little more leading to the capitalistic side but almost every single country out there has a mixture of the two so that was very important i want to point that out there guys and then in socialism socialism is a economic in economics give me a political and economic theory of social organization that advocates that the
Means of production distribution and exchange should be owned or regulated by in the community as a whole so if i make a million dollars next year from my business the way the country will view that is that’s still their money in the way i have to do that is that’s still the the people’s money that money needs to be distributed around that money is not just for
Me to keep in a straight socialistic system that money is going to be distributed around to everybody okay so remember there’s no such thing almost as the straight socialistic system more capitalistic system you almost need a mixture of both to make the country work in general so that that’s basically the difference between the two and the different mindsets so i
Want to point out something here guys the top five countries for medium income are they capitalistic or the socialistic the top five countries for medium income are all socialist systems every single one of them you can look up the facts on that on the five highest you know gdp per capita type countries or median income scuse me medium income they’re all socialist
Countries you would think of the capitalistic countries right every non capitalistic country should be up there no that’s absolutely the false email statement there no you go to some countries like denmark and sweden it’s in those countries people are doing pretty good it may not be as many rich people like super rich you know tens of millions of dollars those kinds
Of things but as a whole they’re doing pretty good for themselves there’s nothing to complain about their number four the united states actually has the six median income so you would think the united states with all our might and all our economic power and all these types of things we would be number one we’re number six on median income guys so we got a lot of
People that are doing really great at the same time we have so many people in this country that are doing really bad at the bottom that are really struggling that it weighs down the whole median income there guys so something take into account there something else here listen to this so 15% 15% of the world’s population makes less than $2 a day less than $2 a day
15% of the world’s population that’s extreme extreme poverty there that’s just mind-blowing to me guys mind-blowing 15% of country 2017 making less than $2 a day crazy this is even more mind-blowing i think 56 percent of the world’s population 56 percent so half of it makes between two and ten dollars per day between two and ten dollars per day 76 percent of the
World’s population that’s like so if you add up to 56 percent and a 15% that’s 71 percent of the world’s population 71 percent makes less than $10 a day less than $10 a day eyes holy smoke 71 percent of the world’s population if that doesn’t make you feel rich then i don’t know what it does if you’re watching this video 13 percent of the world’s population makes
Between $10 and $20 per day still in sanely low then we got nine percent of the population that makes between twenty and fifty dollars a day still insanely low and then the top seven percent of the world makes over fifty dollars a day the top seven percent of the world’s population far as income goes makes over fifty dollars a day it’s mind-blowing to me to think
About these things that means like me for instance i would be probably i wouldn’t be i don’t think i would be in the top 1% of income earners in the world but i would probably be in the top 2% and for sure in the top 3% and i certainly don’t feel rich at all i don’t feel like i’ll ballin out of control or anything like that but i’m doing all right for myself i
Would consider that but it’s not like i’m you know that in the world most kinds of things so that’s mind blowing guys that someone like myself is improbably top 2% of income earners in the world and a lot of you guys watching this are probably in the top 2% or 3% or for sure in the top 7% if you have a regular job you for sure in the top 7% unless you don’t work
At the job ever and those kinds of things guys you’re the top 7% and some of you has made you be the top 1% income earners in the world that’s just mind-blowing to me guys so why do americans feel so poor i touched on this and i can’t member what video is i did a video like a month ago or so and i kind of touched on this why do americans feel for it really comes
Down to what i just stated there and everything is relative to what’s around you so although i might not feel rich being in the top 2% if i was in a you know africa or some other country you know some really poor countries let’s say in the middle east or some really poor country in asia or something like that and then i would feel like the richest man in the world
Right everything is relative because i’m looking at all these other people that are making $3 a day and i’m making $200 a day or $300 a day and it looks like i’m just like a ridiculous baller right but in america where i’m around people that drive you know cars that have the cars that are more expensive than my whole net wealth you know somebody drives a bentley
Down the street i’m like holy smokes oh there goes more than my hopes net well combined there than that bentley there or somebody lived a you know a five million dollar house there up in the hill also me living in a three-bedroom apartment is like oh man i’m not doing so well for myself you know that’s everything’s relative and like so that’s why americans kill
Poor and a lot of people in developed countries even when you’re doing good i mean i saw the statistics on people making over $100,000 a year the amount of people that make over 100k a year and feel poor is staggering it’s really staggering guys but everything relative it depends on what’s around your eyes and those kind of things and you know you see this person
Over here and also any kind of like wow i’m not really doing so good even a millionaire a millionaire who’s doing really good in yours even described as rich if they’re running a billionaire net billionaire has a 75 foot yacht they got a private jet often the millionaire feels like i’m not doing anything with my life everything is relative another point i want
To point out here so taxes and capitalism systems are relatively low where socialism systems are very high so if i was making a million dollars here in america i might be taxed at you know a thirty eight percent i think it’s about 38 percent so basically you know three hundred eighty thousand dollars we get taken from me if i’m not making a million dollars in a
Really socialistic type country about 80 to 90 percent of that money might get taken so i might of the million dollars i’m eight i might only see two hundred thousand dollars of that i might even see less than two hundred thousand dollars of that so there’s definitely some differences there but at the same time there’s definitely some advantages to a socialistic
System but taxes has you know you definitely get screwed on taxes if you make a lot of money so the extra in taxes is from a socialistic system or used for social programs such as free health care free college tuition some of those kinds of things i mean almost every system that’s more toward a socialistic system there they’re basically the the people that pay in
That money that money goes toward free health care so they don’t have to pay for free health or excuse me they don’t have to pay for health care so think about the the burden lifted off you know millions of americans they have to pay to $800 per month for health care now called tuition loans those kind of things so when you look at it it’s like damn you get taxed
So much you get screwed so bad you know 80% of your money it’s text away but then like you think about okay how much you spend on health care all the time how much do those bills add up to and then how much if you go to college and get a college tuition how much do you have to pay for all those years and all that interests on that guy’s some of those kinds of things
So you start thinking about that you’re like maybe it’s not quite as bad as it seems then so you know pure capitalism in itself pure capitalism in itself it’s every man for itself in a pure capitalistic system which once again i can’t find any pure capitalistic system out there anymore i don’t think it exists it surely doesn’t exist in america if you think america
Is a pure capitalistic system you really don’t have a clue what’s going on in a pure capitalistic system it’s every man for himself it doesn’t matter if somebody disabled or somebody has cancer or whatever if you will feel like you want to give that money to them you can but you’re not obligated in a pure capitalistic system if you make a million dollars in a
Pure capitalistic system ten million dollars every penny of it is yours and if you want to go out in there and fix the road then you can pay for that if you don’t you don’t have to that’s a pure capitalistic system it’s every man for himself you know that’s the way it works there in the united states i would describe us as like a 75% capitalistic system about 25
Percent socialist we certainly have a lot of social programs you know from medicaid medicare you know social security a lot of these types of things you know food stamps welfare we have a lot of programs the united states that are very socialistic systems i mean a very socialistic programs but at the same time we’re more on the capitalistic side i would still say so
I would say we’re maybe a 70 to 75 percent and 25 to 30% over here on the socialistic system whereas you know somewhere like maybe a suite in the denmark’s in those countries might be more of a 70 to 75 socialistic but still there they got some capitalistic tendency absolutely about 20 or 25 percent so i believe personally in balancing the act between capitalism
And socialism with the weight always being toward capitalism i mean i’m a capitalist and i got two businesses i think like a capitalist i’m an investor in stocks like like that’s me i’m a capitalist but at the same time i personally actually you know recognize there sometimes you know we need some socialistic type programs some of the things i would like to see
One of the specific programs is i would love to see a socialistic program like free college tuition for anybody that has a b be great or better if you’re going to be great or better i see no reason why we should not you know push people toward getting more educated i think that’s a good thing and then you know if they’re the type person that does that in there the
Tech person has a skill to do that someone like myself that in high school was a ced student i don’t think we should get free college tuition i think that would be a bunch of crap you know i in trihard i didn’t try hard in putting the effort in high school to get a good grade and those kinds of things i don’t think i should have gotten free college tuition lucky
Enough i was fast and so i did the whole other subject so that’s kind of my view on things you know it balanced the capitalistic system balanced socialism make sure it’s always a little more capitalistic because i think a capitalistic system will always get people out there ask more and and and you know humans are the smartest monkey out there but we’re still just
A monkey in the head and you know where were the motivated by things we see in those kinds of things guys if we weren’t we wouldn’t we would never be where we’re at if we weren’t motivated by money some of those kinds of things guys all these advances we see nowadays this would not exist this youtube platform would not exist on a non capitalistic system this camera
Right here i’m recording on no it wouldn’t be around you know in the amount of amount of progress is being made through health care through a capitalistic system it’s been quite amazing guys so balance on both out that’s my opinion on it that’s kind of the differences between capitalism socialism i hope you guys enjoyed this today let me know in our comment section
Which your guy’s opinion is on this i would love to hear your opinion even if you’re like oh we should be straight capitalistic only or we should be always socialistic or i would just love to hear from you guys and i would love to hear some of you guys that maybe come from a more socialistic system which i know i have a sort of segment of my viewers that come from
More of a socialistic system i would love to hear from you guys on this if you just came across this channel you have not subscribed yet you may want and we saw personal finance the channel i’m an actual business owner i give away so many business tips we talk to stock market the most of anything thank you for watching guys and have a great day yeah
Transcribed from video
Capitalism vs Socialism By Financial Education
