You know, we’ve done a lot of stories recently
talking about how the average American can afford a $400 emergency. You’ve got tens of millions of people who
have quote good health insurance that’s still can’t even afford prescription medicine or
doctors visits. But here’s one thing we haven’t talked about,
and this is actually becoming a very big problem in this country according to Axios. And that is, that’s the top 1% have so damn
much money. They don’t know what to spend it on. A new report by Axios shows that the top 1%
and major corporations here in this country are now in possession of so much money that
they literally don’t know what to do with it. They’re actually struggling to come up with
ways to spend all of this crazy money that they have. Let me run through some statistics here. US companies raked in a record, two point
$3 trillion in corporate profits just last year. Um, companies could obviously pay their workers
more, but according to a economist, a chief economist at capital economy economics says
that would be terrible for the stock market. So, yeah, we could, we could give our workers
raises. That would be one thing to do with this money,
which, uh, actually amounts to 303 point $9 billion worth of cash. We couldn’t do that, but that’s pretty bad
for the stock market. So instead, what what corporations are doing
here is they’re just buying back their own stock. Which they’re actually kind of running out
of that. Your stock buybacks hit a record high in 2018
they’re going to be even higher in 2019, uh, as predicted at the current path. But then eventually they’re going to run out
of stocks to buy back. So they don’t know what they’re gonna do. They don’t have anywhere else they want to
invest it. They’re just sitting again on 303 point $9
billion in cash because they don’t know what to do with it. And meanwhile, real wages for those of us
here in the United States are stagnant. The only time the wages actually look like
they’re going up is when you add in the pay of CEOs and shareholders and people like that. Then yes, because their pay has gone up so
much. It actually on an average makes it look like
our pay has gone up a little like 2.5 and 2.9% but actually workers aren’t getting those. We’re not getting those raises were not getting
the benefits. We’re getting our benefits slash left and
right and companies across this country, they’re moving more to temporary workers like Google
who now has more temp workers than permanent workers and those are workers. They don’t have to pay over time. They don’t have to give them benefits or health
insurance or any of those things that actually keep workers happy and healthy. That’s the problem here folks. We have incentivized corporations to screw
over their workers and of Republican policies in Washington DC. We also tell them, hey, we’re not going to
punish you for screwing over your workers. We’re not going to, you know, find you or
put you in jail when you poison entire communities are when your factory burns down and you lose
800 workers in the fire. Don’t worry about any of that. When your mind explodes instead of what we’re
going to do for you is we’re going to cut taxes, we’re going to raise taxes on the middle
class because that’s what’s happened with the 2017 tax cut and jobs package. The Trump tax cut, we’re going to screw over
the, uh, middle class and working class even more. Sure that we can give you wealthy, elite,
and major corporations more money. And you can do whatever the hell you want
with it. But now they’ve kind of hit that scenario
of what happens when you get everything you ever wanted. Now they don’t know what to do with it. So my suggestion is this, don’t do anything
with it because I know you’re not going to give people raises. You’re not going to increase benefits. You’re not going to give out bonuses. You’re not going to go out there and pay off
everybody. Student loan debt. So do me a favor, just sit on it for now. So that way we can get a Democrat in office
after the 2020 presidential election and hopefully it’s going to be one of the candidates who
has suggested taxing you to hell and back, because I would love nothing more for that
big ass pile of cash that you’re sitting on to go back to the federal government to pay
for programs like Medicare for all debt free, college, universal, Pre k and childcare, all
of it. Because that is where that money needs to
go. But we know for certain that these wealthy
elite, the members of the top 1%, they’re not about the fun that stuff on their own. So it’s time for the government to step in,
take that money back because it’s so much they don’t even know what to do with it and
actually use it to help people here in this country.