I find it impossible to take any "interviewer" videos on Youtube seriously, regardless of the political affiliation of the maker. After all, you could've have only used the interviews that show your side of the arguement in a positive light.
I have a question. Why did you use massive numbers of sock accounts in an attempt to get rich off youtube? Is it because you knew nobody would follow you? Why did you hide your subscriber box?
Are you that desperate for money you have to abuse the system to do so?
I own "The Fairy Hut". I earned $1.00 revenue in the first quarter after I got my licence and paid $5.07 in state taxes and fees. I am still unable to change my official DBA name to "The Fairy Hut". I started selling in person at a local farmer's market. I'm a fan of Cain but a 9% sales tax on revenues would be devistating since I haven't even started making a profit. Flat tax please! Tax profit and income not revenues!
@ignbtd ...seriously? You still have not realized I was talking about the financial sector?
You have not addressed the the creation of toxic mortgages created by banks and then sold to wall street as securities. You still didn't talk about the minimum level of capital a company needs to hold, betting against your own products, proper auditing of accounts, etc. YOU didn't provide any concrete measure to prevent another crisis. Sorry if I don't respond to your comments anymore.
@ignbtd Then regulate corporate allowable expense, limited donations to politics.
Risky behavior will always exist, because most of their incomes are commission/bonus based, so the more risk/profit, the more returns. Executives are not afraid, humans (psychology) think of short term benefits and tend to ignore long term ones, cash as much as you can now. Anyway once they are fat, they can move on in another corporation. Should the world economy/jobs/lives rely on the whims of few CEOs?
@ignbtd Banks: Minimum level of risk weighted capital , deposit from customers can't be used to gamble in derivatives. Prohibit any conflict of interest, e.g can't promote a financial product while betting against it's failure. Improve auditing and corporate governance. Board of directors should be independent members, Corporations should not be allowed to buy politicians to influence regulations. Free market: fail companies should close down.
I am a self-employed software engineer, and I'm fortunate there aren't many regulations. My problem is taxes. I don't earn a lot, so the self-employment tax is a very painful chunk of my income, and since my tax situation has always drastically changed, I keep recalculating ever more compex taxes every quarter (often before Missouri decides the tax brackets). Also, it's easy to forget that a chunk of money in the bank is unusable because its for taxes.
running a small business on its own is difficult even if you didn't have endless regulations.
The thing with running a restraunt, a lot of good regulations we'd have to do anyway just for sanitary reasons. Its funny that despite these things being "regulated" you'd be surprised how many restraunts don't always follow them...I'm referring to employees
Really enjoyed the video, Lee, it was very informative, and I can't help but feel happy for these people that they are doing something that they enjoy. I'd love to see some more outgoing videos like this from you.
The majority of small businesses (30%) have said “poor sales,” are their biggest concern, that's out of 8 poll choices, beating out "taxes" and "regulation".
The National Association for Business Economics survey of business economists found that 80% think "the current regulatory environment is good for American businesses and the overall economy".
Since this is obviously a hackneyed attempt to say "OBAMA'S TAXES AND REGULATIONS ARE KILLING BUSINESS" I felt it's good to use some facts.
@MaxWeberz Not selling your product by meeting the value to the consumer is always the biggest concern. The more interesting fact of your "study" was the increase of concern regarding government regulation compared to the last "study."
The concern isn't about a hypothetical situation where businesses might have poor sales, they are going through "poor sales" at the moment and it's because of a severe lack of demand since everyone lost their jobs.
The woman around minute eight puts economics into perspective as a human impulse. All the stimulus, bailouts and regulations can easily have a negative effect on spending and hiring, otherwise if people were so sure these things would work then they wouldn't worry as much about impulse buys or expanding business. It's funny at a flea market there's less fear of failure than there is the negative effect of a micromanaging hand. I wonder how business will be when government does less.
Perhaps our government should have allowed some of those big businesses to fail instead of throwing these peoples money at them. I'd like to see what these people have to say once they try to buy a building and open up a real establishment. Their tune on what the biggest obstacle is will likely be something different.
Lee, thanks for the video, I have been looking at starting up a market stall so this is very interesting for me :) I worked for the local authority licencing office for a while and know that (in the UK at least) getting a market traders licence is very simple. Entertainment, alcohol, hot food, porn and gambling licences are much more complicated. Trading standards regs and tax law are more of a problem for people like this, should have asked them about that xD.
Isn't it great how witnessing people who live a free market philosophy makes your whole world seem better. Markets are a great example of what humanity actually is when it isn't told what to do.
@timmit59 Free market philosophy exists in other countries too. If you studied economics you would realize that a 100% free market cannot exist. E.g No policemen,firemen,army,road, infrastructure, etc. Why would anyone pay for lighting on the highway? No food safety or drug regulations. No laws or diplomacy.
Some people are greedy, risk takers and have no morals (2008 crisis) Creating toxic mortgages and spreading it through. the financial market. Politicians are bought to prevent regulations.
@dotaonline Do me a favor and go actually read about the mortgage crisis before blaming the free market for it. Here's a hint: would you loan money to someone that you didn't think would be able to pay it back? If not, why did banks do precisely this? I have faith that with even cursory research on the matter that you will come to the correct conclusion.
As to your point about police, etc.: the role of government is to protect our rights. That does not have to include interfering with markets.
The other thing this video shows is that not having a ton of regulations and requirements allows people who want to start a small business to start one, to test the waters etc. and still be able to have a business, even when the economy is slower. That NUT guy for example, imagine all the regulations he would normally have to go through for a normal food business. Completely unacceptable.
@leeuniverse Even Food (Milk) from China shouldn't need any regulation? Small businesses should have low regulations but big financial markets need some regulation or corporations would gamble at the expense of the economy/people's job. Australia and Canada have strong regulation in their financial markets, that is why they were the least affected by the 2008 crisis. E.g Holding a minimum level of capital to loan ratio while factoring risk.
@dotaonline Your liberal talking point shows you have no comprehension of the Regulatory problems. If you knew the issues, you would know that conservatives aren't talking about getting rid of "basic" safety health regulations. That's just a liberal lie liberals feed you to keep you ignorant sheep. We are talking about regulations that don't do anything but destroy business, & prevent growth. Take the housing crash, that was caused by liberal regulations forcing banks to give bad loans.
@dotaonline Take also just one housing regulation by the liberals after the crash which has made things worse. They instituted a regulation that all banks that took bailout funds weren't allowed to give loans to people who wanted to buy a house from people that had investment properties whether they lived in them or not. In other words, the liberals directly caused even more homes lost. I know these housing problems (and there are much more caused by liberals) because I know people affected.
@leeuniverse Liberal or not, it does not matter. The "Financial Crisis Inquiry Commission" report that GFC was caused by widespread failures in financial regulation, breakdowns in corporate governance including, excessive borrowing and risk by Wall Street, systemic breaches in accountability and ethics at all levels.
What will prevent the next crisis? Corporate self regulation(greed)? NO, we need more and better regulations.E.g from Australia: Min level of capital and proper auditing of risk
@dotaonline You don't understand. Banks were forced by liberal regulations to make bad loans. The banks then had to do "something" with the bad loans, so in some cases they consolidated, in others they were made a part of their portfolio. Then when the housing market reached it's normal bubble due to rising home prices the normal housing bubble ended up being a 100 times worse because of those liberal policy's. Corp's & Wall Street had little to do with the problem, they were victims also.
@dotaonline The only needed "regulation" of the housing market other than getting rid of many liberal regulations which caused the problems, & others which now make the problems worse, is to prevent future housing market crashes there should be put in place "auto" inflation based pricing. In other words, the price of housing should only be allowed to rise a certain percentage every year. While this does interfere with the market a little, it will prevent runaway housing prices & crashes.
@leeuniverse So banks should still be allowed to give loans to people who can't afford it?Then spread them to the financial market as a packaged security which is rated by incompetent/corrupt agencies as low risk? Let financial companies to bet against their own customers. No need for a minimum level of capital to loan ratio, liquidity test or accurately get their asset and investment risk audited?
The crisis was caused by insufficient regulations/audit and you want even less? Very logical!
@dotaonline Your first gibber gabber has nothing to do with my views, save the fact that the government forced them to do it. Don't blame them for doing whatever they could to minimize their risk when forced to do something they knew would create too much risk.
Sorry, no it wasn't. The crisis was caused by the liberal regulations. In fact, when Bush etc. tried to fix the problem, the liberals blocked them. You don't get it, liberals don't care about debt etc, just look what's happening now.
@leeuniverse Sorry, not everyone is smart enough to understand this:"remove liberal regulations, control house pricing, then everything will be fixed and no more financial crisis in the future". Please show in detail how it will prevent: GAMBLING in derivatives with deposits from customers or giving excessive loan to risky customers or failure in auditing risks taken by financial institutions?
Watch "Former Fed Chairman Bank Rule Ignored" on Youtube, may be you can have a different perspective.
@dotaonline Watch Barney Frank saying there's nothing wrong with Fanny/Freddie when Rep's tried to prevent the economy crash. I don't pretend there was "nothing" done wrong by those in the middle, but they were not the CAUSE of the problems, they were victims & symptoms of the actual problems. TYT doesn't tell the actual truth in almost anything.... You need to get a more balanced and accurate perspective, instead of one that just lies about others and issues in almost everything they say.
@leeuniverse My point of view is both parties are bought. If your biggest donor is from the financial market, can you try regulate them more?
So the greedy and immoral people on wall street are the victims?
PLEASE EXPLAIN.
1. How do you think less regulation will prevent another crisis. (NOT explained yet)
2. How are the banks and other financial institutions, who caused the world economic/job crisis, the victims? (as professionals have a duty of care unlike normal individuals)
@dotaonline 1. Don't agree both parties are "bought". Most are still moral and try to do what's right, and most of those are conservatives. 2. Contrary to liberal lies, the biggest donors are Unions. 3. Wall street has just as many good people as bad people as the rest of society, there is no Wall street conspiracy against little people. Yes, most were victims because they were forced by liberal regulations to do things i.e. give loans to people that couldn't prove they could pay.
@dotaonline 3. contin... You can't blame Wall Street for doing things which was caused by Government, what "choice" did Wall Street have? 4. Regulations which interfere with the free market & freedom, things that don't relate to safety, etc. i.e. the Gov's actual job, are regulations that need to be removed to prevent another crisis. Further, there already are regulations to prevent certain things. Liberals just ignored them the last time around. 5. Banks etc. didn't cause it, liberals did.
@leeuniverse Don't take excessive risk, set up proper internal auditing and risk management system, don't aggressively sell loans to people that can't afford them so that you can increase your turnover/bonus, don't promote an investment to customers with the intention to bet for it's failure behind his back.(conflict of interest/unethical, you probably knew it was too risky), don't buy politicians to pass legislation in your favor.
Please tell me how lower regulation will prevent another crisis
Shhhh. A free market. And non-unionised. Don't tell Washington it exists. The Dems will regulate it out of existance to protect their union paymasters.
@goru426 It's easy to make cheap shots in the dark. Why did you say that? Have you tried to debate him and come away dissatisfied? Are his ideas unsubstantiated? Are his sources wrong, if so, why? Has he said anything your own beliefs cannot counter? Do you follow an ideology opposed to the free market and therefore act out of blind hate as your ideology cannot stand up to rational criticism?
5:42 "... you make thing, and people go to their pocket to pay for it ..."
In a nutshell, what the economy is really all about. Ask yourself why the government or anyone else should have the right to screw with such an abecedarian and amiable human interaction.
I'm glad this guy derives emotional satisfaction from it as well, personally I don't really care about that so I'd be just as happy working in an office. Nice to live in a Free Country huh?
Awesome video. I'm in the process of starting my own small business and was taking a break from writing my business plan and saw this. Definitely more motivated. Thanks.
You know what really struck was how these people were doing what they loved- and they all looked so relaxed and happy! I think that's a great lesson for everyone, whether a business owner or employee. :)
Very neat video. I especially like the black guy who said how rewarding it was when you made something and someone actually bought it- spent money on something you created. :D I know that feeling, it's so wonderful.
These are all terrible ideas for businesses, Lee. As the business owner at 7:57 admits, these are Keynesian businesses: "when business is good it's really good, but when there's not enough discretionary spending [...] these are what I call impulse buys [rather than] necessities".
.
Why don't you interview entrepreneurs who are actually creating new value?: yclist. com
@hitssquad who are you to decide these things? who are you to decide what one person does creates value while another one doesn't? are you the economics god? are people to STUPID to decide how to spend their own hard earned money? and no these are NOT Keynesian businesses. in a free market the MASSES decide who survives and who doesnt.
@gibblets17 "who are you to decide these things?"
A I pointed out, the business-owners themselves have recognized that their "businesses" are worthless, as evidenced by the fact that they only thrive in Keynesian conditions. In other words, they're creating luxury, rather than actual value, and their income is solely derived from charity ("cusomers" donating to them when the economy is experiencing a Keynesian "injection").
@gibblets17 "are people to STUPID to decide how to spend their own hard earned money?"
Luxuries, and other mistakes, represent some fraction of any given individual's expenditures. It may in fact be true that no given individual economic actor is superhuman -- yet. Is that an impossibility to you?
.
The purchases made at these local crafts markets might be partly inspired by feelings of charity -- despite the fact that charity always ultimately hurts an economy. Is that an impossibility to you?
@hitssquad In what way are luxuries mistakes? And in what way is buying from a vendor at this market more an act of "charity" than buying from a store?
You seem to mistake your own cynisism for intelligence...
Lee, this video was AWESOME! These small business owners give me even more motivation and aspiration to do what I love doing. That my choice to stop working for others and to work for myself with hustle and hard work will one day pay off. Thank you for this timely video!
People like you who churn out platitudes like "we should have regulations" pay no attention to the consequences of regulations. Competition and tort law can better regulate markets than an ignorant politician or bureaucrat who know nothing about economics.
Information regulations aren't necessary by government. If people want information about what's in their food or drugs, it will be in the self-interest of the firms to put them on their products. A firm which puts what's in its products will in at a competitive advantage and will capture a large part of the market. Firms which ignore these needs will be at a competitive disadvantage. Competition and self-interest enforce good behavior. Tort law takes care of bad behavior.
@LogicalFlawDetector Its also in the interest of companies to withhold information that would be harmful to the business.
In a society where everybody was an honest and good person capitalism would be perfect but the world is populated by crooks and liars we need to have some regulations. Laisez Faire was abandoned for many good reasons, companies lied, people died and the individuals made mistakes that destroyed the whole economy. Individuals who had inherited their wealth instead of making it
FDA's drug lag kills hundreds of thousands of people each year -- more than all deaths from all U.S. drug disasters combined. If firms withhold information they will eventually be sued and be made to face heavy costs.
As a 52 year old man - you get a feel for young people and how they are going to turn out in live. Guys - if you know the girl at 7:11 - that's the one you want to bring home to mom. Lee, seriously you need to go back and ask her to coffee. That calm intelligent demeanor, is as rare as it gets.
This was totally awesome Lee. I especially like that it captured a broad spectrum of folks who essentially like being their own boss. Capitalism is a beautiful thing.
I'm a small business owner myself; although it's taken a lot of work and time, I can say that I've done pretty well for myself. There's nothing more satisfying than knowing that the fruits of your labor have paid off.
So these people create their OWN jobs. Nice contrast to see people who actually work to earn their living, unlike the OWS people we keep hearing about.
@Coffeeisnecessary Do you even know what Wall Street is? Its a street that people drive on. The New York Stock Exchange is a building where people exchange stocks in New York. Don’t turn Wall Street into some terrible monster attacking American citizens... It’s just a road with some buildings on it; its not going to hurt you.
But don't worry; I recognize your sentiment. When people don’t understand something, they start to fear it.
@sambudwiser Good idea. And I suspect you will find the same attitudes. If you've ever worked in a big corp and talked to the top execs, most are regular people. They started at the bottom, worked their way up because they love what they do. I would also like to hear more from entrepreneurs who made it big from little or nothing: Steve Wozniak (may Jobs RIP), Michael Dell, Norton, Oprah even.
@upyr1 yea, its the average working to middle class person who is going to live in the area of these small shops, and before you go and say that the middle class also benefits from corp tax cuts, check the amount of middle income earners who have a profit margin in the millions.
@MyDormantSoul Can you honestly tell me none in the middle class or that none of their customers have made one cent from the millions in corperate profits- due to stock dividends and corperate bonds?
@upyr1 the only ppl receiving corp stock dividends are wealthy shareholders, not the middle class, that goes back to what I said. As for bonds, they are only widely exchanged when interest rates are low, thats a result of the federal reserve creating market bubbles. Ask anyone who invests, bonds are a bad bet. Interest rates will skyrocket in two years and ppl just dont trust the bonds market. Sure, ppl made more than "1 cent" from them. But its not worth losing 100s of billions in revenue for
@MyDormantSoul where are you getting your information that most corperations only pay their top share holders and not on all their stocks when they pay dividends? I'm saying is that a small investor can make a small rate of return on stocks. It might be a few cents on the dollar but they are still making it. You also need to prove no one in the middle class works for a corperation that pays taxes.
@MyDormantSoul If you are worried about the debt- then cutting spending would be a bigger issue. I would like to end government subsidies and replace the existing corperate tax code with a simple flat tax. I beleive the biggest issue we had in this economy has been the feds desire to create as much inflation as possible.
@MyDormantSoul How can you realy be sure that a higher corperate tax rate isn't costing us 100's of billions in revenue. Corperations will invest their assets where ever they think they can make the most money. So what needs to be done to make inveting in the US more profitable?
@upyr1 I love business but we cant afford tax cuts rite now. Tax money is being transferred to individuals rather than govt its not these individuals who are in debt. The private sector will only really create jobs when there is something stimulating the economy, the 90s saw the dotcom boom, 2000s was a housing bubble. In 6 years we'll have plenty of jobs in healthcare when the baby boomers hit retirement age. When a company is producing, it will hire, with or without tax cuts playing hercules
@MyDormantSoul I beeive we can not afford subsides, or bail outs but the issue remains- what should be done to make investing in the US a good idea? We have a trade deficit of about $500 billion. What makes up the deficit- what makes up our exports and what is the average cost differnce between domestic production and imports- and what composes the differnce. You seem to be taking the stance there is nothing that can be done to make the US
@upyr1 we cant just inject ideology into an economy that was built on a house of cards. Business is not going to grow, tax cuts will not make companies that want nothing to do with the US start hiring. Libertarianism can only operate under conditions of absolute liberty, it just isnt going to work right now. I hate to say it, especially to you, but the only institution that can grow the economy rite now is the govt. Spend billions on tax cuts or spend billions on teachers, doctors, etc
@MyDormantSoul The only reason that a company would not want any thing to do with the US is becuse they believe they will get a higher ROI someplace else not we have colective bad breath. So what obsticles do companies have to maintianing a decent ROI in the US?
"What obstacles do companies have to maintaining a decent ROI in the US?"
Well, the fact that they can't pay workers pennies an hour, force them to work 100+ hours a week with no benefits or overtime, disallow breaks, murder union organizers, buy children from impoverished families, dump toxic waste into local water supplies, force abortions on workers that become pregnant, have inhumanely dangerous working conditions, etc.
Damn communist regulations taking away all our jobs!!
@yeebuddeh1 tis looks like the classic shill argument- you are unwilling to to budge an inch on regulations so you jump to the most extreme answer-when the topic comes up. What is needed in terms of regulatory refrom is to simply repeale the regulations with the worst cost to benifit ratio.there are products made in the USA infact if you type madeinusa and place a .org you will have a list.
@upyr1 Its not as simple as the "highness" of ROI, but the length of it. This is not based primarily on taxes, its based on access to resources, transportation efficiency, consumer types etc. Businesses a terrified of investing in the US because they have a debt of 12 tril and can go under any day. It doesnt matter how low corp taxes are if the ppl in the area arent buying their crap. This notion of tax-stimulus is just as questionable as stimulus spending; govt killing revenue for "stimulus"
@MyDormantSoul The only way to get ride of the $14 trillion in debt is to have a budget surplus. The ideal way to achieve that would be to grow the tax base. You are right there are other factors at play besides taxes- they should also be examined. As for the ROI part of the equation let's look at the trade deficit as a guidline on what the US is facing.From my readings It is between $500 billion and $1 trillion the US's GDP is about $15 trillion and the deficit is $1.5 trillion
@MyDormantSoul from my understnaing the average differnce in domestic production and imports is about 25% That figure may be wrong- but the next question is what makes up that average? There isn't much that can be done to change the pay differnce even if you got rid of the minium wage I doubt the going rate would change more than a $1. So back to the heart of the question do you have any ideas on how to improve the busiess climite.
@upyr1 For business, I am saying that it is a terrible path to pursue for economic growth. The private sector doesnt create jobs when there isnt demand for them, what dont you get about that? Thats why the GOP's psuedo-keynesian policy of cutting taxes so that businesses will create jobs that arent needed is terrible. The best path for economic growth right now is raising taxes, cutting military and entitlements, and start hiring teachers, police, and senior caregivers, which are in huge demand.
@MyDormantSoul I brought up the trade deficit becuse becuse those are items which are in demand otherwise no one would import them. It is simple Adam Smith that corperations produce try to mazimize their profits. I brought up the trade deficit becuse these are obviously products that are in demand otherwise people wouldn't import them.
@upyr1 Items can be in high demand, but that does not account for labor demand. Companies are not seeing any significant growth in consumption for their products, thus they are not hiring very much. In the 20s u could fine "help wanted" signs up everywhere because credit was being given out and ppl had lots of income. The opposite is happening now and a company is not going to start hiring because fewer ppl are buying and the economy is projected to bust. Tax cuts will not make them start hiring
@MyDormantSoul if a product is in demand then that segment ofthe economy will need labor when invnetory is low. The primary objective of tax and regulatory refrom would be to make it more profitable to produce those products in the US and reduce the trade defecit from $500 billion to 0. The secondary would be to make companies more profitable and make it easier for them to keep their doors open. profitable companies don't always hire but failing ones always fire people.
@upyr1 The belief that giving corporations tax cuts during recessions and depressions prevents them from making layoffs hasnt produced any evidence. There is no reason to believe that a corp will hire more workers with more money; in fact companies have always looked for ways to work with as few employees as possible. Add that with the fact that consumption rates are projected to fall for a lot of goods/services; like the luxury service industry, and tax cuts become a needless loss of revenue
@MyDormantSoul It's a simple fact companies look at ways to maximize their profits. First when you cut busniess taxes what do you think they do with the money? Sit around and use $50 bills to roll joints? Can you tell me when was the last time the simplified the regulatory code for manufacturing along with tax reforms and tax cuts?
@MyDormantSoul You mention a concern about revenu loss but then you advocating hriing more police and teachers. These are public employees, and if your tax hikes don't produce the expected revenu you will just increase the deficit. As you mention the loss of revenu as a concern wouldn't it be more logical to simply gut the budget and pay on the debt?
@upyr1 Yeah Im just exploring various options, you asked me what could be done about business and jobs and thats what i said. In the end I would probably put it towards the debt 90% and 10% towards the rest. but im not in office and poliical parties are hacks so what does it even matter? did u see the mp3 podcast i posted on your channel about dmitry orlov?
@MyDormantSoul I've not watched it I am familar with some of his ideas. I do think the US is headed for a colapse unless something is changed. As is clear I think that will mean tax and regulatory reform. In both cases the main goal would be to simplify both codes with the goal of lowering the comparitive cost of imports vrs domestic production. IMHO the yeabuddehguy is a good example of the problem the US is facing. can you repost the link?
@upyr1 k I posted it on your channel. Some hopeful things are 1) increased offshore drilling, it'll likely lead to more oil spills and environmental damage but it may prolong the crash 2) many first world countries have aging populations and will need a very large workforce to deal with the aging babyboomers, so tons of jobs in healthcare will pop up in the future 3) Someone needs to create a new and cheap product that everyone in the world wants to buy; thats how capitalism was supposed to grow
@MyDormantSoul I think the yehbuddeh guy is a good example of why we are in the mess. There are agood number of politicans who don't want to look at regulations and taxes. May be I'm wrong that we can basicly eliminate the trade defecit by fine tunning the regulatory code- eleminating the regualtions with the worst cost to benifit ratio may be I'm wrong but it still needs to be examined. I've seen sox that had made in the USA on them in the past few years.
I have had various storefront businesses with employees for over 50 years. Government intrusion, licensing, rules, and regulations are the worse obstacles to overcome because of its never ending threats, which never go away and are held over your head. This makes decision making difficult. Other obstacles are just part of doing business and can be overcome.
@RedMclaren I agree - it's not the point of the video, but having owned a few small businesses - it was a nice thing easily done, and could be a nice return for them.
@RedMclaren Liability would be my guess. It's often safer to just assume people don't want their names or business online than get a knock on the door by someone serving you court papers.
@RedMclaren People on YouTube are crazy, not all, but many are. They were willing to be interviewed, and therefore I'll respect their privacy. Thanks.
@HowTheWorldWorks I read the question above about the "missing" names, and I thought that was a good question, I might have asked that. When I read your answer, I felt that my insight had been made greater. Your answer stands strong and serves as an example for others to follow. Thank you. This is a trade-off that is good for you, the vendors feel respected, and it is good for the audience. I will try not to miss any future videos of yours. I wish I would have had a teacher like you in school.
As an employee of a growing small business (Evil Controllers - the first in making modded controllers for the Xbox 360 and PS3), this put a smile on my face.
Thumbs up to ya Lee. You should definitely do more videos like this in which you go outside and ask people questions. It's a good break from the usual news anchor format. This way, you are more of a reporter rather than a commentator.
I find it impossible to take any "interviewer" videos on Youtube seriously, regardless of the political affiliation of the maker. After all, you could've have only used the interviews that show your side of the arguement in a positive light.
zzman305 1 week ago
@zzman305 You could say that for any interview ever done in history
superlucci 5 days ago
This has been flagged as spam show
I have a question. Why did you use massive numbers of sock accounts in an attempt to get rich off youtube? Is it because you knew nobody would follow you? Why did you hide your subscriber box?
Are you that desperate for money you have to abuse the system to do so?
dingleflorden 3 months ago in playlist More videos from HowTheWorldWorks
This is a good video #UN#... a lot of content summarized rather well. Thanks for posting, looking forward to watching your future videos.
startupbuildervideos 3 months ago
"Ya know, just interviewing some small business owners no big deal...
OH GOD PLEASE SAY SOMETHING BAD ABOUT OBAMA PLEASE PLEASE PLEASE."
captainlucky1337 3 months ago
Great video! I am also a small business owner as a tour guide and I love what I do too (except when the weather is bad).
razornet1 3 months ago
Licensing, keeping bureaucrats employed and barely working for over a 80 years. These people are pursuing the American Dream!
carlindelco 3 months ago
The world needs more jobless people like these....
therealgarygnu 3 months ago
This was a great video Lee. As one of your extremely liberal and skeptical viewers I hope you read this and are happy. More like this.
beenz07 4 months ago
I own "The Fairy Hut". I earned $1.00 revenue in the first quarter after I got my licence and paid $5.07 in state taxes and fees. I am still unable to change my official DBA name to "The Fairy Hut". I started selling in person at a local farmer's market. I'm a fan of Cain but a 9% sales tax on revenues would be devistating since I haven't even started making a profit. Flat tax please! Tax profit and income not revenues!
fizzingwhizbeee 4 months ago
@ignbtd ...seriously? You still have not realized I was talking about the financial sector?
You have not addressed the the creation of toxic mortgages created by banks and then sold to wall street as securities. You still didn't talk about the minimum level of capital a company needs to hold, betting against your own products, proper auditing of accounts, etc. YOU didn't provide any concrete measure to prevent another crisis. Sorry if I don't respond to your comments anymore.
dotaonline 4 months ago
@ignbtd Then regulate corporate allowable expense, limited donations to politics.
Risky behavior will always exist, because most of their incomes are commission/bonus based, so the more risk/profit, the more returns. Executives are not afraid, humans (psychology) think of short term benefits and tend to ignore long term ones, cash as much as you can now. Anyway once they are fat, they can move on in another corporation. Should the world economy/jobs/lives rely on the whims of few CEOs?
dotaonline 4 months ago
@ignbtd Banks: Minimum level of risk weighted capital , deposit from customers can't be used to gamble in derivatives. Prohibit any conflict of interest, e.g can't promote a financial product while betting against it's failure. Improve auditing and corporate governance. Board of directors should be independent members, Corporations should not be allowed to buy politicians to influence regulations. Free market: fail companies should close down.
These regulations will certainly reduce risk.
dotaonline 4 months ago
Youre best video yet Lee
joshros 4 months ago
I am a self-employed software engineer, and I'm fortunate there aren't many regulations. My problem is taxes. I don't earn a lot, so the self-employment tax is a very painful chunk of my income, and since my tax situation has always drastically changed, I keep recalculating ever more compex taxes every quarter (often before Missouri decides the tax brackets). Also, it's easy to forget that a chunk of money in the bank is unusable because its for taxes.
jbo5112 4 months ago
@ignbtd Your whole comment haven't given any answer. HOW DOES LESS REGULATION WILL PREVENT ANOTHER CRISIS?
Anyway I am wasting time, just check Canada's and Australia's regulation and how they did well during 2008.
dotaonline 4 months ago
running a small business on its own is difficult even if you didn't have endless regulations.
The thing with running a restraunt, a lot of good regulations we'd have to do anyway just for sanitary reasons. Its funny that despite these things being "regulated" you'd be surprised how many restraunts don't always follow them...I'm referring to employees
StuffedAnimalAdvisor 4 months ago
Really enjoyed the video, Lee, it was very informative, and I can't help but feel happy for these people that they are doing something that they enjoy. I'd love to see some more outgoing videos like this from you.
FrostmourneFK 4 months ago
The majority of small businesses (30%) have said “poor sales,” are their biggest concern, that's out of 8 poll choices, beating out "taxes" and "regulation".
The National Association for Business Economics survey of business economists found that 80% think "the current regulatory environment is good for American businesses and the overall economy".
Since this is obviously a hackneyed attempt to say "OBAMA'S TAXES AND REGULATIONS ARE KILLING BUSINESS" I felt it's good to use some facts.
MaxWeberz 4 months ago 3
@MaxWeberz Not selling your product by meeting the value to the consumer is always the biggest concern. The more interesting fact of your "study" was the increase of concern regarding government regulation compared to the last "study."
sbclouser 4 months ago
@sbclouser
The concern isn't about a hypothetical situation where businesses might have poor sales, they are going through "poor sales" at the moment and it's because of a severe lack of demand since everyone lost their jobs.
MaxWeberz 4 months ago
The woman around minute eight puts economics into perspective as a human impulse. All the stimulus, bailouts and regulations can easily have a negative effect on spending and hiring, otherwise if people were so sure these things would work then they wouldn't worry as much about impulse buys or expanding business. It's funny at a flea market there's less fear of failure than there is the negative effect of a micromanaging hand. I wonder how business will be when government does less.
LokiScoutSniper 4 months ago
Lee Doren left his house?! Next thing you know, we'll be cutting spending.
rogging1 4 months ago
@Frances3654
Perhaps our government should have allowed some of those big businesses to fail instead of throwing these peoples money at them. I'd like to see what these people have to say once they try to buy a building and open up a real establishment. Their tune on what the biggest obstacle is will likely be something different.
RCTPatriot75 4 months ago 13
I clicked because I saw the black woman in the thumbnail. :)
quitejaded 4 months ago
Comment removed
RCTPatriot75 4 months ago
Lee, thanks for the video, I have been looking at starting up a market stall so this is very interesting for me :) I worked for the local authority licencing office for a while and know that (in the UK at least) getting a market traders licence is very simple. Entertainment, alcohol, hot food, porn and gambling licences are much more complicated. Trading standards regs and tax law are more of a problem for people like this, should have asked them about that xD.
Ermintrude75 4 months ago
The beautiful women at 8:15 was amazing!!
joepglass 4 months ago
These interviews were actually quite positive! Their attitudes are a testament to the passion and stick-to-it attitude of the entrepreneur .
augustc4 4 months ago 12
Fantastic Lee. Nice to know that we in small business are pretty much struggling with the same issues all across the country.
Shanawolfo1 4 months ago
HA i thought my audio was off at the beginning of the video
onvogmasaj 4 months ago
Street vendors here in California do need permits which sucks
acerusso 4 months ago
@HowTheWorldWorks
And some say the American entrepreneurial spirit is dead. Fat chance, it’s in our DNA!
Thanks for posting these stories, Lee.
PoliticallyBlazed 4 months ago
EEEEEVIL CAPITALIST EXPLOITERS!
Oh, wait... maybe not?
Hiraghm 4 months ago
Isn't it great how witnessing people who live a free market philosophy makes your whole world seem better. Markets are a great example of what humanity actually is when it isn't told what to do.
timmit59 4 months ago
@timmit59 Free market philosophy exists in other countries too. If you studied economics you would realize that a 100% free market cannot exist. E.g No policemen,firemen,army,road, infrastructure, etc. Why would anyone pay for lighting on the highway? No food safety or drug regulations. No laws or diplomacy.
Some people are greedy, risk takers and have no morals (2008 crisis) Creating toxic mortgages and spreading it through. the financial market. Politicians are bought to prevent regulations.
dotaonline 4 months ago
@dotaonline Do me a favor and go actually read about the mortgage crisis before blaming the free market for it. Here's a hint: would you loan money to someone that you didn't think would be able to pay it back? If not, why did banks do precisely this? I have faith that with even cursory research on the matter that you will come to the correct conclusion.
As to your point about police, etc.: the role of government is to protect our rights. That does not have to include interfering with markets.
luftwaffle 4 months ago
Great video Lee.
1isaM111er 4 months ago
I'm relieved to see this isn't a Kock Bro's interview.
DackIsBack 4 months ago
Utterly inspiring...the indefatigability of the human spirit, the will to succeed, persevere, overcome...
reliableandrew 4 months ago
The other thing this video shows is that not having a ton of regulations and requirements allows people who want to start a small business to start one, to test the waters etc. and still be able to have a business, even when the economy is slower. That NUT guy for example, imagine all the regulations he would normally have to go through for a normal food business. Completely unacceptable.
leeuniverse 4 months ago
@leeuniverse Even Food (Milk) from China shouldn't need any regulation? Small businesses should have low regulations but big financial markets need some regulation or corporations would gamble at the expense of the economy/people's job. Australia and Canada have strong regulation in their financial markets, that is why they were the least affected by the 2008 crisis. E.g Holding a minimum level of capital to loan ratio while factoring risk.
dotaonline 4 months ago
@dotaonline Your liberal talking point shows you have no comprehension of the Regulatory problems. If you knew the issues, you would know that conservatives aren't talking about getting rid of "basic" safety health regulations. That's just a liberal lie liberals feed you to keep you ignorant sheep. We are talking about regulations that don't do anything but destroy business, & prevent growth. Take the housing crash, that was caused by liberal regulations forcing banks to give bad loans.
leeuniverse 4 months ago
@dotaonline Take also just one housing regulation by the liberals after the crash which has made things worse. They instituted a regulation that all banks that took bailout funds weren't allowed to give loans to people who wanted to buy a house from people that had investment properties whether they lived in them or not. In other words, the liberals directly caused even more homes lost. I know these housing problems (and there are much more caused by liberals) because I know people affected.
leeuniverse 4 months ago
@leeuniverse Liberal or not, it does not matter. The "Financial Crisis Inquiry Commission" report that GFC was caused by widespread failures in financial regulation, breakdowns in corporate governance including, excessive borrowing and risk by Wall Street, systemic breaches in accountability and ethics at all levels.
What will prevent the next crisis? Corporate self regulation(greed)? NO, we need more and better regulations.E.g from Australia: Min level of capital and proper auditing of risk
dotaonline 4 months ago
@dotaonline You don't understand. Banks were forced by liberal regulations to make bad loans. The banks then had to do "something" with the bad loans, so in some cases they consolidated, in others they were made a part of their portfolio. Then when the housing market reached it's normal bubble due to rising home prices the normal housing bubble ended up being a 100 times worse because of those liberal policy's. Corp's & Wall Street had little to do with the problem, they were victims also.
leeuniverse 4 months ago
@dotaonline The only needed "regulation" of the housing market other than getting rid of many liberal regulations which caused the problems, & others which now make the problems worse, is to prevent future housing market crashes there should be put in place "auto" inflation based pricing. In other words, the price of housing should only be allowed to rise a certain percentage every year. While this does interfere with the market a little, it will prevent runaway housing prices & crashes.
leeuniverse 4 months ago
@leeuniverse So banks should still be allowed to give loans to people who can't afford it?Then spread them to the financial market as a packaged security which is rated by incompetent/corrupt agencies as low risk? Let financial companies to bet against their own customers. No need for a minimum level of capital to loan ratio, liquidity test or accurately get their asset and investment risk audited?
The crisis was caused by insufficient regulations/audit and you want even less? Very logical!
dotaonline 4 months ago
@dotaonline Your first gibber gabber has nothing to do with my views, save the fact that the government forced them to do it. Don't blame them for doing whatever they could to minimize their risk when forced to do something they knew would create too much risk.
Sorry, no it wasn't. The crisis was caused by the liberal regulations. In fact, when Bush etc. tried to fix the problem, the liberals blocked them. You don't get it, liberals don't care about debt etc, just look what's happening now.
leeuniverse 4 months ago
@leeuniverse Sorry, not everyone is smart enough to understand this:"remove liberal regulations, control house pricing, then everything will be fixed and no more financial crisis in the future". Please show in detail how it will prevent: GAMBLING in derivatives with deposits from customers or giving excessive loan to risky customers or failure in auditing risks taken by financial institutions?
Watch "Former Fed Chairman Bank Rule Ignored" on Youtube, may be you can have a different perspective.
dotaonline 4 months ago
@dotaonline Watch Barney Frank saying there's nothing wrong with Fanny/Freddie when Rep's tried to prevent the economy crash. I don't pretend there was "nothing" done wrong by those in the middle, but they were not the CAUSE of the problems, they were victims & symptoms of the actual problems. TYT doesn't tell the actual truth in almost anything.... You need to get a more balanced and accurate perspective, instead of one that just lies about others and issues in almost everything they say.
leeuniverse 4 months ago
@leeuniverse My point of view is both parties are bought. If your biggest donor is from the financial market, can you try regulate them more?
So the greedy and immoral people on wall street are the victims?
PLEASE EXPLAIN.
1. How do you think less regulation will prevent another crisis. (NOT explained yet)
2. How are the banks and other financial institutions, who caused the world economic/job crisis, the victims? (as professionals have a duty of care unlike normal individuals)
dotaonline 4 months ago
@dotaonline 1. Don't agree both parties are "bought". Most are still moral and try to do what's right, and most of those are conservatives. 2. Contrary to liberal lies, the biggest donors are Unions. 3. Wall street has just as many good people as bad people as the rest of society, there is no Wall street conspiracy against little people. Yes, most were victims because they were forced by liberal regulations to do things i.e. give loans to people that couldn't prove they could pay.
leeuniverse 4 months ago
@dotaonline 3. contin... You can't blame Wall Street for doing things which was caused by Government, what "choice" did Wall Street have? 4. Regulations which interfere with the free market & freedom, things that don't relate to safety, etc. i.e. the Gov's actual job, are regulations that need to be removed to prevent another crisis. Further, there already are regulations to prevent certain things. Liberals just ignored them the last time around. 5. Banks etc. didn't cause it, liberals did.
leeuniverse 4 months ago
@leeuniverse Don't take excessive risk, set up proper internal auditing and risk management system, don't aggressively sell loans to people that can't afford them so that you can increase your turnover/bonus, don't promote an investment to customers with the intention to bet for it's failure behind his back.(conflict of interest/unethical, you probably knew it was too risky), don't buy politicians to pass legislation in your favor.
Please tell me how lower regulation will prevent another crisis
dotaonline 4 months ago
Shhhh. A free market. And non-unionised. Don't tell Washington it exists. The Dems will regulate it out of existance to protect their union paymasters.
Siegetower 4 months ago 29
Very inspiring. We've all heard the stories from Obama's "helping hand" in the economy.
It's nice to see some cheerful outlooks on business and small operations.
bsharker 4 months ago
Yup, people on utube, are crazy.
DoYerBest 4 months ago
@DoYerBest brilliant...
thebackbencher666 4 months ago
@thebackbencher666 thanks...
DoYerBest 4 months ago
That second black girl was cute!
Unkn0wnGuy 4 months ago
@Unkn0wnGuy RACIST!
Coffeeisnecessary 4 months ago
This comment has received too many negative votes show
Lee Doren = absolute asshole!
goru426 4 months ago
@goru426 It's easy to make cheap shots in the dark. Why did you say that? Have you tried to debate him and come away dissatisfied? Are his ideas unsubstantiated? Are his sources wrong, if so, why? Has he said anything your own beliefs cannot counter? Do you follow an ideology opposed to the free market and therefore act out of blind hate as your ideology cannot stand up to rational criticism?
Siegetower 4 months ago
5:42 "... you make thing, and people go to their pocket to pay for it ..."
In a nutshell, what the economy is really all about. Ask yourself why the government or anyone else should have the right to screw with such an abecedarian and amiable human interaction.
I'm glad this guy derives emotional satisfaction from it as well, personally I don't really care about that so I'd be just as happy working in an office. Nice to live in a Free Country huh?
Let's keep them that way.
IRONMANAustralia 4 months ago
What's that saying " Find a job you love and you'll never work a day in your life." I noticed their smiles and the joy in their eyes.
Drake3209 4 months ago
Awesome video. I'm in the process of starting my own small business and was taking a break from writing my business plan and saw this. Definitely more motivated. Thanks.
MrJason1234 4 months ago
You know what really struck was how these people were doing what they loved- and they all looked so relaxed and happy! I think that's a great lesson for everyone, whether a business owner or employee. :)
Very neat video. I especially like the black guy who said how rewarding it was when you made something and someone actually bought it- spent money on something you created. :D I know that feeling, it's so wonderful.
ZoozaTheBink 4 months ago
Wasn't McDonald's started in tough economic times?
You basically summed up in the end why I decided to take a small business class at a technical school I go to. Good job.
audioblogs12 4 months ago
I enjoy all your videos but this one was a nice change and informative too.
fletcher3913 4 months ago
These are all terrible ideas for businesses, Lee. As the business owner at 7:57 admits, these are Keynesian businesses: "when business is good it's really good, but when there's not enough discretionary spending [...] these are what I call impulse buys [rather than] necessities".
.
Why don't you interview entrepreneurs who are actually creating new value?: yclist. com
hitssquad 4 months ago
@hitssquad who are you to decide these things? who are you to decide what one person does creates value while another one doesn't? are you the economics god? are people to STUPID to decide how to spend their own hard earned money? and no these are NOT Keynesian businesses. in a free market the MASSES decide who survives and who doesnt.
gibblets17 4 months ago
@gibblets17 "who are you to decide these things?"
A I pointed out, the business-owners themselves have recognized that their "businesses" are worthless, as evidenced by the fact that they only thrive in Keynesian conditions. In other words, they're creating luxury, rather than actual value, and their income is solely derived from charity ("cusomers" donating to them when the economy is experiencing a Keynesian "injection").
hitssquad 4 months ago
@gibblets17 "are people to STUPID to decide how to spend their own hard earned money?"
Luxuries, and other mistakes, represent some fraction of any given individual's expenditures. It may in fact be true that no given individual economic actor is superhuman -- yet. Is that an impossibility to you?
.
The purchases made at these local crafts markets might be partly inspired by feelings of charity -- despite the fact that charity always ultimately hurts an economy. Is that an impossibility to you?
hitssquad 4 months ago
@hitssquad In what way are luxuries mistakes? And in what way is buying from a vendor at this market more an act of "charity" than buying from a store?
You seem to mistake your own cynisism for intelligence...
Theheruur 4 months ago
Damn... now I want to sell something... but you need a license for a Kool-Aid stand in my town. >:(
Kris246zl 4 months ago
Lee, this video was AWESOME! These small business owners give me even more motivation and aspiration to do what I love doing. That my choice to stop working for others and to work for myself with hustle and hard work will one day pay off. Thank you for this timely video!
UncleBbit 4 months ago
Thanks a lot for this video. It's nice to see people trying to start something. It was inspiring, I enjoyed seeing people share their stories.
MrCoolUS 4 months ago
Capitalism is a wonderful thing :)
Still, we should have regulations and such.
rangergxi 4 months ago
@rangergxi
People like you who churn out platitudes like "we should have regulations" pay no attention to the consequences of regulations. Competition and tort law can better regulate markets than an ignorant politician or bureaucrat who know nothing about economics.
LogicalFlawDetector 4 months ago 7
@LogicalFlawDetector Simple things like "No lead in toys" or "These drugs should be labeled correctly" are a bit crazy aren't they?
rangergxi 4 months ago
Information regulations aren't necessary by government. If people want information about what's in their food or drugs, it will be in the self-interest of the firms to put them on their products. A firm which puts what's in its products will in at a competitive advantage and will capture a large part of the market. Firms which ignore these needs will be at a competitive disadvantage. Competition and self-interest enforce good behavior. Tort law takes care of bad behavior.
LogicalFlawDetector 4 months ago
@LogicalFlawDetector And after the company lies about their products to sell more?
rangergxi 4 months ago
@LogicalFlawDetector Its also in the interest of companies to withhold information that would be harmful to the business.
In a society where everybody was an honest and good person capitalism would be perfect but the world is populated by crooks and liars we need to have some regulations. Laisez Faire was abandoned for many good reasons, companies lied, people died and the individuals made mistakes that destroyed the whole economy. Individuals who had inherited their wealth instead of making it
rangergxi 4 months ago
@rangergxi
FDA's drug lag kills hundreds of thousands of people each year -- more than all deaths from all U.S. drug disasters combined. If firms withhold information they will eventually be sued and be made to face heavy costs.
LogicalFlawDetector 4 months ago
@LogicalFlawDetector
How well did that work out in the 19th century?
Frances3654 4 months ago
borrrring but hope you had fun....
imitator777 4 months ago
"washing dishes with a batchelor's degree"...that's about the best you can hope for in 2011 America.
pretorious700 4 months ago 2
Congratulations, you've done more in a what seems like a day then Obama has in 3 years
Redeye1524 4 months ago 4
you don't need a license?!
nottinmatterz2day 4 months ago
As a 52 year old man - you get a feel for young people and how they are going to turn out in live. Guys - if you know the girl at 7:11 - that's the one you want to bring home to mom. Lee, seriously you need to go back and ask her to coffee. That calm intelligent demeanor, is as rare as it gets.
James92802 4 months ago 3
@James92802 You're very much right, there.
bayushizero 4 months ago
Interesting stuff.
Now this is a constructive use of the internet.
Razlo5000 4 months ago
This was totally awesome Lee. I especially like that it captured a broad spectrum of folks who essentially like being their own boss. Capitalism is a beautiful thing.
GOPsithlord 4 months ago 39
@GOPsithlord Thanks. Something different works every once in a while.
HowTheWorldWorks 4 months ago 12
Thank you Mr Doren! Really showing the true colors of hard working americans!
MrTechGuy1995 4 months ago
I'm a small business owner myself; although it's taken a lot of work and time, I can say that I've done pretty well for myself. There's nothing more satisfying than knowing that the fruits of your labor have paid off.
SolidThugKnuckles 4 months ago 3
So these people create their OWN jobs. Nice contrast to see people who actually work to earn their living, unlike the OWS people we keep hearing about.
OddRobb 4 months ago 3
@OddRobb This is obviously FAKE! Cenk showed us the FACTS that WALL STREET STOLE OUR HARD EARNED MONEY!!!! THEY STOLE IT! WE TAKE IT BACK!!
Coffeeisnecessary 4 months ago
@Coffeeisnecessary Do you even know what Wall Street is? Its a street that people drive on. The New York Stock Exchange is a building where people exchange stocks in New York. Don’t turn Wall Street into some terrible monster attacking American citizens... It’s just a road with some buildings on it; its not going to hurt you.
But don't worry; I recognize your sentiment. When people don’t understand something, they start to fear it.
Also, Cenk is an ass.
OddRobb 4 months ago 6
@OddRobb Haha fail.
mr82769 4 months ago
Now interview big business :D
sambudwiser 4 months ago 2
@sambudwiser Good idea. And I suspect you will find the same attitudes. If you've ever worked in a big corp and talked to the top execs, most are regular people. They started at the bottom, worked their way up because they love what they do. I would also like to hear more from entrepreneurs who made it big from little or nothing: Steve Wozniak (may Jobs RIP), Michael Dell, Norton, Oprah even.
zivjax 4 months ago
Also good to see capitalism at work. Even in these hard economic times.
skeptictom818 4 months ago 7
Very neutral. Thumbs up.
sticksquash 4 months ago 4
and none of these people benefit from corporate tax cuts..............
MyDormantSoul 4 months ago
This has been flagged as spam show
@MyDormantSoul "and none of these people benefit from corporate tax cuts.............."
everyone who does business with a corporation will benefit from corporate tax cuts.
SuperAtheist 4 months ago 2
@MyDormantSoul who do you think has the money to buy their products- let me give you a clue it isn't the unemployed and poor- who don't have money.
upyr1 4 months ago
@upyr1 yea, its the average working to middle class person who is going to live in the area of these small shops, and before you go and say that the middle class also benefits from corp tax cuts, check the amount of middle income earners who have a profit margin in the millions.
MyDormantSoul 4 months ago
@MyDormantSoul Can you honestly tell me none in the middle class or that none of their customers have made one cent from the millions in corperate profits- due to stock dividends and corperate bonds?
upyr1 4 months ago
@upyr1 the only ppl receiving corp stock dividends are wealthy shareholders, not the middle class, that goes back to what I said. As for bonds, they are only widely exchanged when interest rates are low, thats a result of the federal reserve creating market bubbles. Ask anyone who invests, bonds are a bad bet. Interest rates will skyrocket in two years and ppl just dont trust the bonds market. Sure, ppl made more than "1 cent" from them. But its not worth losing 100s of billions in revenue for
MyDormantSoul 4 months ago
@MyDormantSoul where are you getting your information that most corperations only pay their top share holders and not on all their stocks when they pay dividends? I'm saying is that a small investor can make a small rate of return on stocks. It might be a few cents on the dollar but they are still making it. You also need to prove no one in the middle class works for a corperation that pays taxes.
upyr1 4 months ago
@MyDormantSoul If you are worried about the debt- then cutting spending would be a bigger issue. I would like to end government subsidies and replace the existing corperate tax code with a simple flat tax. I beleive the biggest issue we had in this economy has been the feds desire to create as much inflation as possible.
upyr1 4 months ago
@MyDormantSoul How can you realy be sure that a higher corperate tax rate isn't costing us 100's of billions in revenue. Corperations will invest their assets where ever they think they can make the most money. So what needs to be done to make inveting in the US more profitable?
upyr1 4 months ago
@upyr1 I love business but we cant afford tax cuts rite now. Tax money is being transferred to individuals rather than govt its not these individuals who are in debt. The private sector will only really create jobs when there is something stimulating the economy, the 90s saw the dotcom boom, 2000s was a housing bubble. In 6 years we'll have plenty of jobs in healthcare when the baby boomers hit retirement age. When a company is producing, it will hire, with or without tax cuts playing hercules
MyDormantSoul 4 months ago
@MyDormantSoul I beeive we can not afford subsides, or bail outs but the issue remains- what should be done to make investing in the US a good idea? We have a trade deficit of about $500 billion. What makes up the deficit- what makes up our exports and what is the average cost differnce between domestic production and imports- and what composes the differnce. You seem to be taking the stance there is nothing that can be done to make the US
better for busnies
upyr1 4 months ago
@upyr1 we cant just inject ideology into an economy that was built on a house of cards. Business is not going to grow, tax cuts will not make companies that want nothing to do with the US start hiring. Libertarianism can only operate under conditions of absolute liberty, it just isnt going to work right now. I hate to say it, especially to you, but the only institution that can grow the economy rite now is the govt. Spend billions on tax cuts or spend billions on teachers, doctors, etc
MyDormantSoul 4 months ago
@MyDormantSoul The only reason that a company would not want any thing to do with the US is becuse they believe they will get a higher ROI someplace else not we have colective bad breath. So what obsticles do companies have to maintianing a decent ROI in the US?
upyr1 4 months ago
@upyr1
"What obstacles do companies have to maintaining a decent ROI in the US?"
Well, the fact that they can't pay workers pennies an hour, force them to work 100+ hours a week with no benefits or overtime, disallow breaks, murder union organizers, buy children from impoverished families, dump toxic waste into local water supplies, force abortions on workers that become pregnant, have inhumanely dangerous working conditions, etc.
Damn communist regulations taking away all our jobs!!
yeebuddeh1 4 months ago
@yeebuddeh1 tis looks like the classic shill argument- you are unwilling to to budge an inch on regulations so you jump to the most extreme answer-when the topic comes up. What is needed in terms of regulatory refrom is to simply repeale the regulations with the worst cost to benifit ratio.there are products made in the USA infact if you type madeinusa and place a .org you will have a list.
upyr1 4 months ago
@upyr1 Its not as simple as the "highness" of ROI, but the length of it. This is not based primarily on taxes, its based on access to resources, transportation efficiency, consumer types etc. Businesses a terrified of investing in the US because they have a debt of 12 tril and can go under any day. It doesnt matter how low corp taxes are if the ppl in the area arent buying their crap. This notion of tax-stimulus is just as questionable as stimulus spending; govt killing revenue for "stimulus"
MyDormantSoul 4 months ago
@MyDormantSoul The only way to get ride of the $14 trillion in debt is to have a budget surplus. The ideal way to achieve that would be to grow the tax base. You are right there are other factors at play besides taxes- they should also be examined. As for the ROI part of the equation let's look at the trade deficit as a guidline on what the US is facing.From my readings It is between $500 billion and $1 trillion the US's GDP is about $15 trillion and the deficit is $1.5 trillion
upyr1 4 months ago
@MyDormantSoul from my understnaing the average differnce in domestic production and imports is about 25% That figure may be wrong- but the next question is what makes up that average? There isn't much that can be done to change the pay differnce even if you got rid of the minium wage I doubt the going rate would change more than a $1. So back to the heart of the question do you have any ideas on how to improve the busiess climite.
upyr1 4 months ago
@upyr1 For business, I am saying that it is a terrible path to pursue for economic growth. The private sector doesnt create jobs when there isnt demand for them, what dont you get about that? Thats why the GOP's psuedo-keynesian policy of cutting taxes so that businesses will create jobs that arent needed is terrible. The best path for economic growth right now is raising taxes, cutting military and entitlements, and start hiring teachers, police, and senior caregivers, which are in huge demand.
MyDormantSoul 4 months ago
@MyDormantSoul I brought up the trade deficit becuse becuse those are items which are in demand otherwise no one would import them. It is simple Adam Smith that corperations produce try to mazimize their profits. I brought up the trade deficit becuse these are obviously products that are in demand otherwise people wouldn't import them.
upyr1 4 months ago
@upyr1 Items can be in high demand, but that does not account for labor demand. Companies are not seeing any significant growth in consumption for their products, thus they are not hiring very much. In the 20s u could fine "help wanted" signs up everywhere because credit was being given out and ppl had lots of income. The opposite is happening now and a company is not going to start hiring because fewer ppl are buying and the economy is projected to bust. Tax cuts will not make them start hiring
MyDormantSoul 4 months ago
@MyDormantSoul if a product is in demand then that segment ofthe economy will need labor when invnetory is low. The primary objective of tax and regulatory refrom would be to make it more profitable to produce those products in the US and reduce the trade defecit from $500 billion to 0. The secondary would be to make companies more profitable and make it easier for them to keep their doors open. profitable companies don't always hire but failing ones always fire people.
upyr1 4 months ago
@upyr1 The belief that giving corporations tax cuts during recessions and depressions prevents them from making layoffs hasnt produced any evidence. There is no reason to believe that a corp will hire more workers with more money; in fact companies have always looked for ways to work with as few employees as possible. Add that with the fact that consumption rates are projected to fall for a lot of goods/services; like the luxury service industry, and tax cuts become a needless loss of revenue
MyDormantSoul 4 months ago
@MyDormantSoul It's a simple fact companies look at ways to maximize their profits. First when you cut busniess taxes what do you think they do with the money? Sit around and use $50 bills to roll joints? Can you tell me when was the last time the simplified the regulatory code for manufacturing along with tax reforms and tax cuts?
upyr1 4 months ago
@MyDormantSoul You mention a concern about revenu loss but then you advocating hriing more police and teachers. These are public employees, and if your tax hikes don't produce the expected revenu you will just increase the deficit. As you mention the loss of revenu as a concern wouldn't it be more logical to simply gut the budget and pay on the debt?
upyr1 4 months ago
@upyr1 Yeah Im just exploring various options, you asked me what could be done about business and jobs and thats what i said. In the end I would probably put it towards the debt 90% and 10% towards the rest. but im not in office and poliical parties are hacks so what does it even matter? did u see the mp3 podcast i posted on your channel about dmitry orlov?
MyDormantSoul 4 months ago
@MyDormantSoul I've not watched it I am familar with some of his ideas. I do think the US is headed for a colapse unless something is changed. As is clear I think that will mean tax and regulatory reform. In both cases the main goal would be to simplify both codes with the goal of lowering the comparitive cost of imports vrs domestic production. IMHO the yeabuddehguy is a good example of the problem the US is facing. can you repost the link?
upyr1 3 months ago
@upyr1 k I posted it on your channel. Some hopeful things are 1) increased offshore drilling, it'll likely lead to more oil spills and environmental damage but it may prolong the crash 2) many first world countries have aging populations and will need a very large workforce to deal with the aging babyboomers, so tons of jobs in healthcare will pop up in the future 3) Someone needs to create a new and cheap product that everyone in the world wants to buy; thats how capitalism was supposed to grow
MyDormantSoul 3 months ago
@MyDormantSoul I think the yehbuddeh guy is a good example of why we are in the mess. There are agood number of politicans who don't want to look at regulations and taxes. May be I'm wrong that we can basicly eliminate the trade defecit by fine tunning the regulatory code- eleminating the regualtions with the worst cost to benifit ratio may be I'm wrong but it still needs to be examined. I've seen sox that had made in the USA on them in the past few years.
upyr1 3 months ago
Excellent, there is so much negative reporting it is good to see some one interview people doing their thing with out complaint or agenda.
Thewizzardof9 4 months ago 2
Very cool. Thanks for the upload!
iverson92123 4 months ago
More and more youtubers are getting out and interviewing people.... I love it. What a great way to learn.
olecodjur 4 months ago
I have had various storefront businesses with employees for over 50 years. Government intrusion, licensing, rules, and regulations are the worse obstacles to overcome because of its never ending threats, which never go away and are held over your head. This makes decision making difficult. Other obstacles are just part of doing business and can be overcome.
nostressmike 4 months ago 2
is there a particular reason you didn't add their names and their businesses in the video? It'd be nice to who they are and what they do.
RedMclaren 4 months ago 25
@RedMclaren I agree - it's not the point of the video, but having owned a few small businesses - it was a nice thing easily done, and could be a nice return for them.
James92802 4 months ago
@RedMclaren Liability would be my guess. It's often safer to just assume people don't want their names or business online than get a knock on the door by someone serving you court papers.
mylesproweer 4 months ago
@RedMclaren People on YouTube are crazy, not all, but many are. They were willing to be interviewed, and therefore I'll respect their privacy. Thanks.
HowTheWorldWorks 4 months ago 25
@HowTheWorldWorks Wouldn't they benefit from the free advertising? Should have said the businesses but not their own names.
SirTorment 4 months ago
@HowTheWorldWorks - dang! what gave me away? :D
Hiraghm 4 months ago
@HowTheWorldWorks I read the question above about the "missing" names, and I thought that was a good question, I might have asked that. When I read your answer, I felt that my insight had been made greater. Your answer stands strong and serves as an example for others to follow. Thank you. This is a trade-off that is good for you, the vendors feel respected, and it is good for the audience. I will try not to miss any future videos of yours. I wish I would have had a teacher like you in school.
agent8698 4 months ago
8:30
She is so pretty...
TheMango121 4 months ago
Nice video! Really inspiring seeing some small businesses run smoothly even in these tough times.
benbpi1234 4 months ago
This has been flagged as spam show
Filthy capitalist pigs!!!!
eluminated 4 months ago 5
you live in dc? ...just make sure you dont turn the wrong corner...the capital isn't safe...
thebackbencher666 4 months ago 20
@thebackbencher666 wait why isnt it safe?
xjustin523x 4 months ago
@xjustin523x in dc? its got some bad neighborhoods....really bad neighborhoods...
thebackbencher666 4 months ago
@thebackbencher666 ah ok it sounded like maybe there was unrest going on there
xjustin523x 4 months ago
@xjustin523x there is always unrest down there but i understand what you mean.no there is no organized violence going on...
thebackbencher666 4 months ago
@xjustin523x i mean you could run into the white house,congress and the senate...you could lose all your liberty in just one town!
thebackbencher666 4 months ago
As an employee of a growing small business (Evil Controllers - the first in making modded controllers for the Xbox 360 and PS3), this put a smile on my face.
GeronKizan 4 months ago
This has been flagged as spam show
Thumbs up to ya Lee. You should definitely do more videos like this in which you go outside and ask people questions. It's a good break from the usual news anchor format. This way, you are more of a reporter rather than a commentator.
JosephMFaulkner 4 months ago
Comment removed
JosephMFaulkner 4 months ago
sound is way off
TradeMarkMercenarys 4 months ago
@TradeMarkMercenarys No it isn't
luftwaffle 4 months ago
@luftwaffle first 5 seconds are way off
TradeMarkMercenarys 4 months ago
@TradeMarkMercenarys The audio that's playing isn't from the video. It's just video of himself talking with narration over it
luftwaffle 4 months ago
This has been flagged as spam show
@luftwaffle ooohhh... i see it now. my bad lol
TradeMarkMercenarys 4 months ago
second!
downtheshiter 4 months ago