Democrats Take on Corporate Profits and CEO Pay: A Closer Look

Democrats Take on Corporate Profits and CEO Pay: A Closer Look

-Corporate profits
and CEO pay are soaring
despite the president’s promise
to be a champion
of the working class.
For more on this, it’s time
for “A Closer Look.”
[ Cheers and applause ]
Donald Trump has many
weird rhetorical tics.
He knows like five words.
He’ll never correct himself if
he mispronounces something.
And in general,
he sounds like Joe Pesci
after five shots of novocaine.
[ Laughter ]
But one of the weirdest
rhetorical tics he has
is a story he likes to repeat
at public events.
He keeps saying that
big, strong, tough guys
are coming up to him and crying
because he’s saving the economy.
He’s done it many, many times.
And he repeated it again
during a roundtable
on the economy this week.
-A strong man came up to me —
a tough kind of a guy,
and said, “I want to thank you,
Mr. President,
for saving our country.”
-And he had tears
coming down his eyes.
Men that were tough and strong,
women that were tough
and strong,
they see me, there are tears
coming down their eyes.
A man came up to me,
and he was crying —
A strong man, big, tough guy,
but he was crying.
I’ve had such an incredible
experience with the miners.
Of the nine,
eight of them were crying.
Steel workers came up to me,
and they were crying.
Big people from big companies,
they’ve been to the White House
50 times.
In one case, I won’t say who,
the person came into
the oval office
and started to cry.
-I mean, there are so many
things that are weird
about Donald Trump,
but this is one of the weirdest.
Who are these big, strong,
tough guys
who are supposedly
coming up to him and crying?
[ As Trump ]
You got to see them,
they’re big, muscular
and, I mean,
they’re just bawling.
One of them came up to me,
tears streaming down his face,
and he asked me a question.
It broke my heart.
He said, “Can you…
smell what The Rock is cooking?
And I —
[ Laughter, cheers,
and applause ]
[ Normal voice ] Trump,
of course, tells these stories
because he’s spent his political
career cultivating the myth
that he is a hero
to the working class,
while in reality, as we found
out yet again recently,
he and the political elite
he claims to hate
have overseen an economy
which corporate profits
and CEO pay are soaring.
In fact, one of the most
profitable companies
in the world is even getting
a tax refund.
-And NBC News report reveals
that twice as many
corporations —
Are you ready for this? —
are paying zero taxes
under President Trump.
-A new analysis found
twice as many companies
paid nothing in taxes last year
under the Trump tax law.
The number jumped from 30 to 60.
-This includes major companies
like Amazon, Netflix, and Delta.
-In 2018, Amazon reported
more than $11 billion
in taxable income, and paid
zero dollars in federal taxes.
And it’s even worse than that —
Amazon is actually getting
a federal tax refund
of $120 million this year.
-I’m sorry, I don’t care
if you’re a capitalist
or a socialist or whatever,
but if one of the richest
companies in the world
run by one of the richest men
in the world
is getting a tax refund,
then the system is [bleep] up.
I mean, Amazon —
[ Cheers and applause ]
Amazon shouldn’t get a refund.
It’s where regular people go
when they get their refund.
“Well, thank you, Uncle Sam,
looks like someone’s getting
that new Brita filter.”
[ Laughter ]
The imbalance between
what corporate CEOs make
and what their employees make
is staggering and insane.
And to demonstrate that,
California Congresswoman
Katie Porter
a former professor
of consumer law
decided to do a simple
math problem during a hearing
last week with
JPMorgan Chase CEO Jamie Dimon.
This year, Dimon got a raise
to $31 million.
So Porter gave Dimon
a budget scenario
involving a bank teller who
lives in Porter’s district
to make an entry level salary.
Porter asked Dimon how he would
deal with that budget,
and he did not have an answer.
Here’s just the first part
of that exchange.
She had $2,425 a month.
She rents a one-bedroom
That average one-bedroom
apartment is going to be $1,600.
She spends $100 on utilities,
$400 for car expenses and gas.
A low food budget is $400.
She has a Cricket cellphone,
the cheapest cellphone
she can get for $40.
She has afterschool childcare
because the bank is open
during normal business hours.
That’s $450 a month.
That takes her down to
negative $567 per month.
My question for you, Mr. Dimon,
is how should she manage
this budget shortfall
while she’s working full time
at your bank?
-I, uh…
I don’t know that all
the these numbers are accurate.
That number is generally
a starter job.
She is a starting employee.
She has a 6-year-old child.
This is her first job.
-You can get those jobs
out of high school,
and she may have my job one day.
-Maybe the teller
would be better
at running your bank
than you are.
Under Dimon, JPMorgan has been
fined $2.8 million
over improper safeguards
for customers,
$65 million for trying
to rig a benchmark rate,
$135 million from the SEC,
$13 billion over bad mortgages,
and another $1 billion for just
a bunch of other scandals.
And on top of that, every time
I go to your bank,
the pens have been stolen
from the chains.
And how am I supposed
to fill out
a deposit slip without a pen?
Am I supposed to bring my own
pen to the bank?
Because no one carries pens
Either have more pens
or get stronger chains.
[ Laughter and applause ]
Also, during that exchange,
Dimon actually told Porter
those numbers aren’t accurate.
So Porter responded by posting
a photo of herself
on Twitter with a white board
proving that her numbers
were accurate.
Look at that.
She literally showed her work.
This is the first time
anyone in Congress
has ever gotten extra credit.
Usually the only math
members of Congress are doing
is counting sheep.
-It’s about trying to do what’s
right for the whole country.
And if your heart doesn’t break
when you…
-[ Laughs ] Look at him.
He just realized, “Oh, [bleep]
I fell asleep live on C-SPAN.”
And based on that camera work,
C-SPAN realized that was
the most exciting thing
that ever happened on C-SPAN.
“Someone’s asleep,
take camera five!”
“We only have one camera.”
“Move camera one!”
But Porter kept going.
She pressed Dimon on how
he would solve her constituents’
budget shortfall,
and he still would not answer.
-She doesn’t have the ability
right now
to spend your $31 million.
She’s short $567. What would you
suggest she should do?
-I don’t know.
I have to think about that.
-Would you recommend she take
out a JPMorgan Chase credit card
and run a deficit?
-I don’t know.
I’d have to think about it.
-Would you recommend
that she overdraft at your bank
and be charged overdraft fees?
-I don’t know.
I’d have to think about it.
-So, I know you have a lot of —
-I’d love to call her up
and have a conversation about
her financial affairs
and see if we can be helpful.
-See if you can find a way
for her to live
on less than the minimum
that I’ve described?
-Just be helpful.
-You’re acting like it’s some
unsolvable math problem
instead of just paying her
more money.
Dimon’s going to be up all night
at a chalkboard
trying to crack this one
“Good Will Hunting” style.
[ As Dimon ] Let’s see, she has
$2,000, and I have $31 million.
Damn it, numbers,
why won’t you crunch?!
[ Laughter ]
[ Normal voice ] Now,
the reason these companies
get away with this is basically
just because we let them.
That’s it. They have teams
of lawyers that help them
use deductions and loopholes,
and many of them stash
their profits offshore,
and that’s why
Senator Elizabeth Warren
unveiled a new plan recently
to specifically target companies
that don’t pay taxes.
-Today, Elizabeth Warren,
the senator from Massachusetts,
rolled out a plan to tax
big corporations
that use loopholes
in the tax code.
She tweeted, “Giant companies
like Amazon shouldn’t be able
to get away with paying
zero dollars
in federal corporate income
-Her plan is called
the Real Corporate Profits Tax,
and it focuses on raising
the tax rate for companies
that make over $100 million.
-We’ve got a corporate tax rate,
but as you know,
the thing has just been
lobbied to death.
It’s full of loopholes
and breaks and special deals
so that a company like Amazon
that makes $10 billion
in profits can walk away
paying nothing in taxes.
That’s just not fair.
-I love the idea that
Warren is taking on
one of the most valuable
public companies in the world.
She should publish her plan
on Amazon
just so we can see the
recommendations below it.
“You might also like,
‘Jailing Wall Street Bankers,’
or ‘Bernie Sanders
yelling at a billionaire.'”
[ Laughter and applause ]
We’re living in a gilded age,
a massive inequality
that predates Trump.
It’s baked into the system.
He just lied about it
and made it worse.
For example, for years,
the media has pointed
to the stock market
as a sign of economic success.
And Trump, of course, loves to
brag every chance he gets
about how well the stock market
has done under his presidency,
and he did it again this week.
-We’ve created a tremendous
stock market.
People are making
a lot of money.
Our markets are hitting records
all the time.
I have many, many records
of the highest stock market.
The stock market is way up again
And we’re setting a record
literally all the time.
The stock market is right now
almost at an all-time high.
I have about 18 records.
It then went down a little bit
because we had to do
a couple of trade deals
and people didn’t understand.
Now they’re starting to say,
“You know, that was pretty good.
That’s good what he’s doing.”
-Oh, they were saying that?
[ Laughter ]
Were they also crying?
[ As Trump ] They were saying,
“It’s good what he’s doing,
and they were — I mean,
tears streaming down their faces
and then down onto their
jacked torsos.
These guys were so strong
and so sad.
Just pumping iron
and crying their eyes out.”
[ Laughter and applause ]
[ Normal voice ] But the stock
market is not the real economy.
In fact, it’s mostly just a sign
of how the wealthy few
are faring.
One study found that nearly
40% of the market
is owned by the richest
1% of the population,
while the bottom 90%
of the population owns just 19%
of stock market wealth.
This is why it just makes basic
sense to people that the rich
should pay more in taxes.
On top of the corporate tax,
Warren also proposed
a wealth tax on assets
over $50 million.
And Bernie Sanders even
went on Fox News this week
to attack Trump’s tax bill
during a town hall,
and he actually got cheers
from the crowd.
-I happen to believe that
a tax bill written and pushed
by Trump who told the American
people that that tax bill,
some of you may recall,
would not benefit the wealthy.
You remember that?
-“Oh, it’s not going to benefit
the wealthy.”
83% of the benefits
went to the top 1%.
So I think that’s a bad idea.
And in my view, people,
whether it’s me, you —
Probably make a lot more money
than I do.
But whether it’s me or you
or anybody else,
I think wealthy people
and large corporations
that are making billions
of profits
should start paying
their fair share of taxes.
-But Senator —
[ Cheers and applause ]
-And that was on Fox News!
I mean, talking like that
and getting cheered on Fox News
is like getting cheered for
praising the Yankees in Boston.
[ Laughter ]
[ Boston accent ] He’s right.
Jeter’s a legend,
and Starbucks is
a superior option to Dunkies!
[ Laughter ]
[ Normal voice ] After that
moment, the Fox News anchors
asked Bernie why he doesn’t
choose to voluntarily pay more
in taxes than he owes.
And he turned the question
around on them.
-Your marginal tax rate was 26%
because of President Trump’s
tax cut.
So why not say,
I’m leading this revolution,
I’m not going to take those?
-[ Scoffs ]
[ Laughter ]
Come on. We’re nearing —
I am — I pay the taxes
that I owe.
And by the way, why don’t you
get Donald Trump up here
and ask him how much
he pays in taxes.
[ Cheers and applause ]
-I will.
Yeah, we’ll — Look.
-I am eagerly awaiting
your doing that.
-First of all, there’s nothing
better than old man sarcasm.
[ As Sanders ] Why don’t you
put your phone away
at the dinner table?
-[ Normal voice ] I will.
-[ As Sanders ] Well, I am
eagerly awaiting you doing that,
and when you are done,
maybe we can participate
in the social media I grew up
with called eye contact.
[ Laughter ]
[ Normal voice ]
And then after that,
Bernie directly addressed Trump
and challenged him
to release his tax returns.
-I guess the president watches
your network a little bit,
[ Laughter ]
Hey, President Trump.
My wife and I just released
10 years.
Please do the same.
Let the American people know.
[ Cheers and applause ]
-And you know Trump was watching
that, because, you know,
he always watches, and also,
Bernie on Fox News felt like
one of those crossover episodes,
where a character from one show
goes on another one,
like when Fonzie went on
“Laverne & Shirley.”
But this is one that
didn’t make any sense.
It was like an episode
of “The Sopranos”
where Carrie Bradshaw
stopped by the Bada Bing!
[ Laughter ]
“I didn’t find love
in New Jersey,
but you can’t blame a gada-girl
for trying.
[ Laughter ]
One thing’s for sure, it’s a
night I’ll never fuhgeddabout.”
[ “Sex and the City”-esque music
plays ]
[ Applause ]
I’m not Carrie.
[ Laughter ]
I’m actually Miranda.
[ Laughter ]
-We’re living in an age
of soaring corporate profits
and CEO pay, and when
struggling Americans find out
how much CEOs are making and how
little in taxes they’re paying,
they’re all saying the same
thing —
-[ Scoffs ]
-This has been “A Closer Look.”
[ Cheers and applause ]

100 thoughts to “Democrats Take on Corporate Profits and CEO Pay: A Closer Look”



    ANDREW YANG 2020




  3. The "pile of trump" is so weird, I can't wait to get a real president back in, that just will act presidential.

  4. If I ever met Jamie Dimon I'd slit his throat and watch our economy pour out of his disgusting bloated corrupt body.

  5. OK, I got. The big tough gay asked Trump, a known punk, if he could do him in the Oval Office. But Trump said, "No, call me later." The big tough boy cried.

  6. you must tax wealth, but income. Amazon has billions and they invest their incomes. Elizabeth warren is wrong, this system set up by slave owners , so they tax income , people who work have income , rich have wealth

  7. I don’t care if he’s the president. He’s just a fuckin dumb old man nothing else. Go ahead nuc the world fuc tard.

  8. Holy, Seth Meyeres I owe you a tremendous apology, I hesitated in watching your show dismissing you as yet another talk show host but…these closer looks really do get to the bottom of things. Speak a volume of truth in an age of deception. A spark of reality versus a wave of ignorance.

    Keep up the good work.

  9. Bernie is like the only person in the world who never uses the word' "I" unless he is talking about his goals for us.

    Over using the word "I" and "me" is a sign of bad mental hygiene Trump is a classic example of someone who only thinks about himself.

    I don't understand why people don't find him remarkable.

  10. Man I surely want something of what Trump is smoking , I need to a write a fiction novel and I am out of imagination

  11. America is more corrupt than any tinpot African dictatorship! Possibly the most corrupt country in history. And F the stock market, it’s just another scam. America’s poor love their rich people almost as much as their rich hate the poor.

  12. Why pay someone more and more money when someone right out of high school can do their job?! Is it jp's fault you had a kid who's 6? Is it jp's fault you're a single mother?!

  13. "Corporate profits and CEO pay are soaring despite the President's promise to be a champion of the working class."

    I stopped watching after this. The premise of the segment is already flawed: "in order for one to be a champion of the working class, corporate profits and CEO pay can't soar".

  14. See what stupid Americans do? That is right retarded freaks you made the richer richer!! Oh yea, you idiots graduated from trump university.

  15. hell i cry every time he lets that "oral yeast infection" slip out of that lobster ass mouth! vagasil XS doesn't work on the big strong yeasty mouth of prez faking it! "wannabe dictator"

  16. He is a genius lier… he tells lies and backs them with other lies and when confronted he lies some more…big fat papa lies and wobbly wombat lies, and even little coward kiddy lies ….but most amazingly… if you count every single word he says is a lie… he’s a genius

  17. I will vote for any candidate who promises the following, 1: To return all US troops back to American soil immediately, 2: To close all US military bases on foreign soil immediately, 3: To turn over to an international tribunal anyone who facilitated our military aggression during the past 2 decades, 4: To end all US relations with the Federal Reserve Bank, and 5: To nationalize the Healthcare, Pharma, & Insurance industries. That would be a good start…

  18. they keep calling donald trump a nationalist the definition of a Nationalist is


    Learn to pronounce



    a person who strongly identifies with their own nation and vigorously supports its interests, especially to the exclusion or detriment of the interests of other nations.

  19. What Bernie should have said, when asked to voluntarily pay more taxes:
    1) Should our tax plan rely on the generosity of the rich? That they pay as little as they want?
    2) Bernie's plan would actually RAISE his own taxes, it's not in his own interest. As opposed to Trump's plan, which directly benefits his own family, by hundreds of millions of dollars. So he is leading the charge in that sense.

  20. Remember when people were so excited to see Barack Obama they kept passing out. People passed out at his rally's all the time. lol. Trump would die to be that beloved by adorning fans.

  21. Don't vote for anyone that accepts money from big corporations and/or Super Pacs. Flush out the bought and paid for representatives that keep passing laws to keep the rich rich and the poor poor. Be smart people. There are more of us than there are of them — we have the power to make our Government work for us. Be smart. Vote, Vote, Vote. State and Local races as well as Presidential. Donald Trump cannot appoint another Supreme Court Justice.

  22. Everyone is CRYING because they are jobless or making non-liveable wages. I'm in my 50s (with a BA degree) with a roommate (working a lot of overtime, too). I can't wait to get out of this $h*thole into a less-corrupt Country that VALUES its Citizens and it will be happening. THANK YOU, GOD!!!!

  23. I am soooo glad that he brought up AMAZON $cumbag bezos (richest man in the WORLD) paying ZERO taxes. I won't buy anything from this slave-driving company

  24. Trump should STFU about the stock market.

  25. No not people making a lot of money just a few like Maddof and all investors owners while their so called clients loose their pensions.

  26. All that corruption is what Trump is contributing to. Disproportionate tax cuts. Did you get your couple hundred bucks while Amazon makes billions of profit a year. Businesses play communities against each other for the lowest tax and consequently your local government services have to make cuts or property tax levies get floated and the burden is transferred to individuals while the bonuses and compensations fatten at the top levels. Its republicans who are raping America and have every time they've gotten into power. Are Trump voters just stupid?

  27. Only job I want is getting my girlfriend pregnant ! Everything else is off the table ! Donald trump sir sorry me president donald trump sir ! Lol ! I can't say that with a straight face no chance ! Anyway treason is fantastic ! Ask the Minnesota Vikings ! Or John Ashcroft ! Erik prince – all of them know damn well what's happening ! Whose people are harassing me ? The plates say HHS ! Or fire fighters or veterans ! And that's unspeakable ! They served America and now turned their backs on America ! Obviously ! I'm not trying to help Russia or any other country except America ! And all you are trying to help your bank accounts and sold out America ! That's treason especially retired military ! Omg ! Actually it's anybody in America with a conscience and wanting to make a better world ! Committing treason is NOT HOW I WOULD WANT TO BE REMEMBERED !! These days are gonna be talked about and discussed for the rest of time ! And y'all are committing treason ! That's a tough pill to swallow ! Why don't you or wouldn't you want to help the world ? Everyday that goes bye the world gets robbed of the truth and justice and worse – so why not change it if you can ? I can't quite figure that answer out and not sure I'll ever be able to understand that concept it's your country ! This is the only world that we have ! My God ! May God have mercy on your souls !

  28. Rich get richer ! What a country ! Delta why have I see them on my smartphone ????? They got nothing better to do than to bother poor people ? I hate rich folk ! That's who I'm prejudice with for sho ! Y'all make me sick to my stomach ! Your the definition of TRASH ! The trash of the trash the scum of the trash ! Your complete frauds – no authentic people whatsoever ! Zero ! Plus if you got more than five hundred dollars in your account your committing treason and conspiracy to obstruct justice ! So another words mind as well go get your jumpsuit on or get fitted we all know how you rich people need special sizes get it tailored ! Maybe y'all can get a nice pattern or a flannel color jumpsuit ! You would look adorable ! Aww so pathetic ! Not once ounce of integrity ! No honor – certainly not trustworthy ! Where the federal agents ????? Aww FBI AND THE DEPARTMENT OD JUSTICE MINS AS WELL GO GET SUITED UP WITH JUMPSUITS ! I'm putting the entire building at 4444444444444444 the address of dept of justice is going to prison ! The IRS at 11111111 is going to prison ! That relay is most definitely going to be spending the rest of their lives in prison ! Conspiracy to obstruct justice 7-10 years yippee ! I'm feeling that and the missile's from North Korea and Russia ! I'm
    Glad Donny is going to help his boyfriend out with Siberia ! That's adorable ! Maybe Vladimir can help him win the election again ! Obviously ! Oh well your going to prison ! That's your only option !

  29. How can any one human be so self absorbed, so egotistical, so arrogant? All i see is a scared lonely little boy

  30. That's crazy – 11 billion in profits and still 125 million in refunds ! Dang ! That's whacked ! Crooked ! More money laundering & sex trading ! They trade Asian women for Eastern European ! And rotate ! Of course ! It's Jeffery Epstein and his sick twisted rich friends ! Diamonds ! Who has or keeps diamonds on their safe with a Saudi Arabia passport ! Cmon that's a joke ! International money laundering ! Ms universe ! Victoria secret guy ! That's Epstein's buddy ! Diamond towing ! Alfa dental ! Aaa aaa 111 666 999 media 999 northeastern group LLC ! Who has over 500 LLC COMPANIES ? That would be Donny ! Always Donny ! Look at Donny with his boyfriend ! He dances and picks up women with Epstein ! Look at Donny's bonnet ! Looks fabulous !

  31. I'd cry for a different reason if I saw Trump.
    And most don't deal stocks so that has no effect on real people

  32. Banks getting fines does not help as the fines get trickled down so that the clients pay for it, and the ceo still makes a bonus and gets an increase. Its not stopping the guys in charge from doing the same things again. Charge them and make the ceo's and decision makers accountable financially and with jail time.

  33. There’s actually a lot one can do with $16/hr. Rent a studio apartment instead of a 1-bedroom; give-up the car and use public transportation, bike, or walk; apply for the food stamps; get a weekend job; cooperate with other parents for the after-school and weekend childcare, etc, etc, etc. She lives in America, right? The sky is the limit.

  34. Big Tough guys…… by WHOS standards??? CHEETOS???? ROTFLMAO!!!!


  35. Be aware: The race war the GOP is trying to instigate is a means for diverting the 99% from massacring the 1%. The Armed white GOP is being manipulated by the GOP, while the GOP also tries to incite the rest of the 99% into a rebellion against them.

  36. Cadre that's Jared's ! Aww ! Nah I'm good with real estate is rather just take yours away ! You don't deserve to have anything ! So I'll take it and give it away ! Like your money ! If I got my baby girl I'm good with everything !

  37. If the wage you earn is way lower than cost of living is living the American dream then I'm so glad to be British. I feel so bad for the working class of America today.

  38. Why do people need multi-millions and billions of dollars? What are they so afraid of? Poverty? Stuggle? Suffering? You do know you get old, sick and cancerous. And you can't take the money with you. How expensive are the Las Vegas call girls and caviar? Lost souls.

  39. The world will change only when the justice system overpowers the legal system. When the police arrest the other guys and gals. And since that will never happen in a monetary corporate system keep trying in vain. Or…

  40. Everyone should just stop going to work for a year, stop paying bills and rough it out and see where that takes the market.

  41. Th Rich and their corporations always gets free everything. The people that can afford to PAY, get it for free. This here is just Free money…😡

  42. I cry everytime i witness trump, either out of hysterical dumfounded laughter at his ignorance, or out of sadness for our species knowing we have allowed ourselves to devolve to this level. I knew this guy was a scam artist, and a shitty one at that, when i was still in grade school. Maybe the children should run the country, since we have a adolescent throwing tantrums in office now anyway.

  43. Dimon is thinking, crap, we over paid that clerk. Let's automate her job away. Sad, but it's true. Most jobs is being automated away. Including banking, trading, trucking, retail, manufacturing, pharmacy and more. Google Andrew Yang. Freedom Dividend $1000 per month to all Americans 18 and above, partially funded by AMZN CEO, GB CEO and many of the rich that currently don't pay their fair share of federal taxes. #yang2020

  44. Trump also doesn’t pay taxes lol while truck workers are getting taxed more 😂😂 the same people that supported him 😂 I love this

  45. I actually believe Trump when he says people come up to him crying all the time. I just know it's for a whole 'nother reason, lol!

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