[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.16,0:00:01.88,Default,,0000,0000,0000,,There's a chart I saw recently
Dialogue: 0,0:00:01.88,0:00:03.27,Default,,0000,0000,0000,,that I can't get out of my head.
Dialogue: 0,0:00:03.35,0:00:05.84,Default,,0000,0000,0000,,A Harvard business professor and economist
Dialogue: 0,0:00:05.84,0:00:08.46,Default,,0000,0000,0000,,asked more than 5000 Americans
Dialogue: 0,0:00:08.46,0:00:11.87,Default,,0000,0000,0000,,how they thought wealth was distributed
Dialogue: 0,0:00:12.15,0:00:13.15,Default,,0000,0000,0000,,in the United States.
Dialogue: 0,0:00:13.15,0:00:14.35,Default,,0000,0000,0000,,This is what they said they thought it was.
Dialogue: 0,0:00:14.35,0:00:16.40,Default,,0000,0000,0000,,Dividing the country into 5 rough groups
Dialogue: 0,0:00:16.41,0:00:19.57,Default,,0000,0000,0000,,of the top, bottom, and middle three 20%,
Dialogue: 0,0:00:20.13,0:00:21.98,Default,,0000,0000,0000,,they asked people how they thought
Dialogue: 0,0:00:21.98,0:00:23.100,Default,,0000,0000,0000,,the wealth of this country was divided.
Dialogue: 0,0:00:23.100,0:00:25.76,Default,,0000,0000,0000,,Then he asked them what they thought
Dialogue: 0,0:00:25.76,0:00:27.45,Default,,0000,0000,0000,,was the ideal distribution, and 92%,
Dialogue: 0,0:00:28.20,0:00:31.06,Default,,0000,0000,0000,,that's at least 9 out of 10 of them,
Dialogue: 0,0:00:31.43,0:00:33.53,Default,,0000,0000,0000,,said it should be more like this
Dialogue: 0,0:00:34.12,0:00:37.03,Default,,0000,0000,0000,,in other words, more equitable than they think it is.
Dialogue: 0,0:00:37.18,0:00:39.24,Default,,0000,0000,0000,,That fact is telling, admittedly, the notion
Dialogue: 0,0:00:39.25,0:00:41.18,Default,,0000,0000,0000,,that most Americans know that the system
Dialogue: 0,0:00:41.22,0:00:44.15,Default,,0000,0000,0000,,is already skewed unfairly.
Dialogue: 0,0:00:44.28,0:00:45.100,Default,,0000,0000,0000,,What's most interesting to me is
Dialogue: 0,0:00:46.13,0:00:48.78,Default,,0000,0000,0000,,the reality compared to our perception.
Dialogue: 0,0:00:49.61,0:00:53.41,Default,,0000,0000,0000,,The ideal is as far removed from our perception
Dialogue: 0,0:00:53.41,0:00:56.09,Default,,0000,0000,0000,,of reality, as the actual distribution is from
Dialogue: 0,0:00:56.09,0:00:58.54,Default,,0000,0000,0000,,what we think exists in this country.
Dialogue: 0,0:00:58.84,0:01:00.98,Default,,0000,0000,0000,,So, ignore the ideal for a moment.
Dialogue: 0,0:01:01.46,0:01:03.08,Default,,0000,0000,0000,,Here's what we think it is again,
Dialogue: 0,0:01:04.29,0:01:06.100,Default,,0000,0000,0000,,and here is the actual distribution,
Dialogue: 0,0:01:06.100,0:01:09.04,Default,,0000,0000,0000,,shockingly skewed.
Dialogue: 0,0:01:09.26,0:01:12.42,Default,,0000,0000,0000,,Not only do the bottom 20% and the next 20%,
Dialogue: 0,0:01:12.76,0:01:15.04,Default,,0000,0000,0000,,the bottom 40% of Americans,
Dialogue: 0,0:01:15.04,0:01:17.32,Default,,0000,0000,0000,,barely have any of the wealth --
Dialogue: 0,0:01:17.32,0:01:19.78,Default,,0000,0000,0000,,it's hard to even see them on the chart --
Dialogue: 0,0:01:20.23,0:01:23.91,Default,,0000,0000,0000,,but the top 1% has more of the country's wealth
Dialogue: 0,0:01:24.54,0:01:26.87,Default,,0000,0000,0000,,than 9 out of 10 Americans believe
Dialogue: 0,0:01:26.87,0:01:29.81,Default,,0000,0000,0000,,the entire top 20% should have.
Dialogue: 0,0:01:30.07,0:01:31.54,Default,,0000,0000,0000,,Mindblowing.
Dialogue: 0,0:01:31.54,0:01:33.18,Default,,0000,0000,0000,,But let's look at it another way
Dialogue: 0,0:01:33.18,0:01:35.41,Default,,0000,0000,0000,,because I find this chart kind of difficult
Dialogue: 0,0:01:35.42,0:01:36.60,Default,,0000,0000,0000,,to wrap my head around.
Dialogue: 0,0:01:36.62,0:01:39.94,Default,,0000,0000,0000,,Instead, let's reduce the 311 million Americans
Dialogue: 0,0:01:40.09,0:01:43.12,Default,,0000,0000,0000,,just to a representative 100 people.
Dialogue: 0,0:01:43.16,0:01:44.07,Default,,0000,0000,0000,,It's simple. Here they are:
Dialogue: 0,0:01:44.71,0:01:45.69,Default,,0000,0000,0000,,Teachers, coaches, firefighters,
Dialogue: 0,0:01:45.93,0:01:48.46,Default,,0000,0000,0000,,construction workers, engineers, doctors,
Dialogue: 0,0:01:48.46,0:01:51.06,Default,,0000,0000,0000,,lawyers, some investment bankers,
Dialogue: 0,0:01:51.06,0:01:52.79,Default,,0000,0000,0000,,a CEO, and maybe a celebrity or two.
Dialogue: 0,0:01:53.00,0:01:55.00,Default,,0000,0000,0000,,Now, let's line them up according to their wealth,
Dialogue: 0,0:01:55.12,0:01:57.50,Default,,0000,0000,0000,,poorest people on the left, wealthiest on the right,
Dialogue: 0,0:01:57.55,0:02:00.21,Default,,0000,0000,0000,,a steady row of folks, based on their net worth.
Dialogue: 0,0:02:00.59,0:02:03.28,Default,,0000,0000,0000,,We'll color-code them like we did before,
Dialogue: 0,0:02:03.66,0:02:05.83,Default,,0000,0000,0000,,based on which 20% quintile they fall into.
Dialogue: 0,0:02:05.83,0:02:08.71,Default,,0000,0000,0000,,Now let's reduce the total wealth of the U.S.,
Dialogue: 0,0:02:09.30,0:02:11.09,Default,,0000,0000,0000,,which was roughly 54 trillion dollars in 2009
Dialogue: 0,0:02:11.09,0:02:12.09,Default,,0000,0000,0000,,to this symbolic pile of cash,
Dialogue: 0,0:02:12.10,0:02:16.03,Default,,0000,0000,0000,,and let's distribute it among our 100 Americans.
Dialogue: 0,0:02:16.62,0:02:18.97,Default,,0000,0000,0000,,Well, here's socialism, all the wealth of the nation
Dialogue: 0,0:02:19.86,0:02:21.04,Default,,0000,0000,0000,,being distributed equally -- we all know
Dialogue: 0,0:02:21.04,0:02:23.02,Default,,0000,0000,0000,,that won't work
Dialogue: 0,0:02:23.21,0:02:24.84,Default,,0000,0000,0000,,We need to encourage people to work,
Dialogue: 0,0:02:24.91,0:02:27.37,Default,,0000,0000,0000,,and work hard, to achieve that
Dialogue: 0,0:02:27.62,0:02:29.09,Default,,0000,0000,0000,,good old American dream
Dialogue: 0,0:02:29.36,0:02:31.11,Default,,0000,0000,0000,,and keep our country moving forward.
Dialogue: 0,0:02:31.18,0:02:32.84,Default,,0000,0000,0000,,
Dialogue: 0,0:02:32.84,0:02:34.49,Default,,0000,0000,0000,,
Dialogue: 0,0:02:34.49,0:02:36.27,Default,,0000,0000,0000,,
Dialogue: 0,0:02:36.78,0:02:40.53,Default,,0000,0000,0000,,
Dialogue: 0,0:02:41.09,0:02:42.47,Default,,0000,0000,0000,,
Dialogue: 0,0:02:42.69,0:02:43.75,Default,,0000,0000,0000,,
Dialogue: 0,0:02:44.16,0:02:46.68,Default,,0000,0000,0000,,
Dialogue: 0,0:02:46.70,0:02:49.31,Default,,0000,0000,0000,,
Dialogue: 0,0:02:49.62,0:02:51.43,Default,,0000,0000,0000,,
Dialogue: 0,0:02:52.03,0:02:54.65,Default,,0000,0000,0000,,
Dialogue: 0,0:02:54.75,0:02:56.64,Default,,0000,0000,0000,,
Dialogue: 0,0:02:56.64,0:02:58.33,Default,,0000,0000,0000,,
Dialogue: 0,0:02:58.37,0:03:00.59,Default,,0000,0000,0000,,
Dialogue: 0,0:03:00.74,0:03:03.15,Default,,0000,0000,0000,,
Dialogue: 0,0:03:03.17,0:03:06.09,Default,,0000,0000,0000,,
Dialogue: 0,0:03:06.10,0:03:07.34,Default,,0000,0000,0000,,
Dialogue: 0,0:03:07.54,0:03:09.95,Default,,0000,0000,0000,,
Dialogue: 0,0:03:10.09,0:03:11.72,Default,,0000,0000,0000,,
Dialogue: 0,0:03:11.72,0:03:14.47,Default,,0000,0000,0000,,
Dialogue: 0,0:03:14.80,0:03:16.46,Default,,0000,0000,0000,,
Dialogue: 0,0:03:16.58,0:03:19.02,Default,,0000,0000,0000,,
Dialogue: 0,0:03:19.02,0:03:20.96,Default,,0000,0000,0000,,
Dialogue: 0,0:03:21.70,0:03:24.35,Default,,0000,0000,0000,,
Dialogue: 0,0:03:24.55,0:03:26.93,Default,,0000,0000,0000,,
Dialogue: 0,0:03:27.37,0:03:29.38,Default,,0000,0000,0000,,
Dialogue: 0,0:03:29.38,0:03:31.08,Default,,0000,0000,0000,,
Dialogue: 0,0:03:31.44,0:03:32.94,Default,,0000,0000,0000,,
Dialogue: 0,0:03:33.18,0:03:35.28,Default,,0000,0000,0000,,
Dialogue: 0,0:03:35.28,0:03:36.42,Default,,0000,0000,0000,,
Dialogue: 0,0:03:36.57,0:03:37.85,Default,,0000,0000,0000,,
Dialogue: 0,0:03:37.85,0:03:39.78,Default,,0000,0000,0000,,
Dialogue: 0,0:03:39.78,0:03:41.26,Default,,0000,0000,0000,,
Dialogue: 0,0:03:41.63,0:03:43.45,Default,,0000,0000,0000,,
Dialogue: 0,0:03:43.45,0:03:44.82,Default,,0000,0000,0000,,
Dialogue: 0,0:03:45.43,0:03:48.41,Default,,0000,0000,0000,,
Dialogue: 0,0:03:49.60,0:03:52.48,Default,,0000,0000,0000,,
Dialogue: 0,0:03:53.63,0:03:56.23,Default,,0000,0000,0000,,
Dialogue: 0,0:03:56.82,0:03:58.48,Default,,0000,0000,0000,,
Dialogue: 0,0:03:59.23,0:04:00.11,Default,,0000,0000,0000,,
Dialogue: 0,0:04:00.16,0:04:02.34,Default,,0000,0000,0000,,
Dialogue: 0,0:04:03.30,0:04:05.51,Default,,0000,0000,0000,,
Dialogue: 0,0:04:05.65,0:04:08.05,Default,,0000,0000,0000,,
Dialogue: 0,0:04:08.43,0:04:10.10,Default,,0000,0000,0000,,
Dialogue: 0,0:04:10.46,0:04:11.63,Default,,0000,0000,0000,,
Dialogue: 0,0:04:12.07,0:04:15.50,Default,,0000,0000,0000,,
Dialogue: 0,0:04:16.26,0:04:17.95,Default,,0000,0000,0000,,
Dialogue: 0,0:04:18.70,0:04:20.55,Default,,0000,0000,0000,,
Dialogue: 0,0:04:21.21,0:04:21.99,Default,,0000,0000,0000,,
Dialogue: 0,0:04:22.56,0:04:24.24,Default,,0000,0000,0000,,
Dialogue: 0,0:04:24.33,0:04:26.12,Default,,0000,0000,0000,,
Dialogue: 0,0:04:26.80,0:04:30.25,Default,,0000,0000,0000,,
Dialogue: 0,0:04:31.20,0:04:32.48,Default,,0000,0000,0000,,
Dialogue: 0,0:04:32.48,0:04:34.44,Default,,0000,0000,0000,,
Dialogue: 0,0:04:34.44,0:04:36.39,Default,,0000,0000,0000,,
Dialogue: 0,0:04:36.39,0:04:37.63,Default,,0000,0000,0000,,
Dialogue: 0,0:04:37.63,0:04:39.18,Default,,0000,0000,0000,,
Dialogue: 0,0:04:39.18,0:04:41.03,Default,,0000,0000,0000,,
Dialogue: 0,0:04:41.56,0:04:45.57,Default,,0000,0000,0000,,
Dialogue: 0,0:04:45.91,0:04:47.74,Default,,0000,0000,0000,,
Dialogue: 0,0:04:48.24,0:04:51.72,Default,,0000,0000,0000,,
Dialogue: 0,0:04:52.06,0:04:55.25,Default,,0000,0000,0000,,
Dialogue: 0,0:04:55.50,0:04:58.78,Default,,0000,0000,0000,,
Dialogue: 0,0:04:59.45,0:05:01.48,Default,,0000,0000,0000,,
Dialogue: 0,0:05:01.48,0:05:04.31,Default,,0000,0000,0000,,
Dialogue: 0,0:05:04.81,0:05:07.97,Default,,0000,0000,0000,,
Dialogue: 0,0:05:08.62,0:05:12.90,Default,,0000,0000,0000,,
Dialogue: 0,0:05:13.07,0:05:15.46,Default,,0000,0000,0000,,
Dialogue: 0,0:05:15.46,0:05:17.72,Default,,0000,0000,0000,,
Dialogue: 0,0:05:18.16,0:05:20.62,Default,,0000,0000,0000,,
Dialogue: 0,0:05:20.62,0:05:23.69,Default,,0000,0000,0000,,
Dialogue: 0,0:05:23.96,0:05:26.20,Default,,0000,0000,0000,,
Dialogue: 0,0:05:26.29,0:05:27.85,Default,,0000,0000,0000,,
Dialogue: 0,0:05:27.85,0:05:29.75,Default,,0000,0000,0000,,
Dialogue: 0,0:05:29.75,0:05:31.86,Default,,0000,0000,0000,,
Dialogue: 0,0:05:31.86,0:05:33.70,Default,,0000,0000,0000,,
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Dialogue: 0,0:05:41.83,0:05:44.33,Default,,0000,0000,0000,,
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Dialogue: 0,0:05:58.11,0:06:01.78,Default,,0000,0000,0000,,
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Dialogue: 0,0:06:07.69,0:06:10.16,Default,,0000,0000,0000,,