but if you got richer by sitting on a big pile of stock certificates, you don t actually have to true up every year. you can just wait until you decide either to sell it or until you die. the problem with that is over the past three decades is that billionaires have actually taken that difference and totally distorted what they can do with it. so now you have somebody like jeff bezos, one of the richest people in the world. he buys yachts, he buys yachts for himself. he shoots himself into space and he does everything and yet he says my income is only this tiny little bit because he s figured out how not to ever have to sell anything and trigger the taxes that he is accruing. so what this provision says is, you know what, you ve got to true up every year if you earn your wages by working, and
declining on a day over day basis. even if cases are starting to decline, the epidemic is contracting you re still accruing new cases on a daily basis. and the health care system is maxed out in some of those states. they ll continue to accrue new hospitalizations. the other challenge is patients infected with covid and requiring hospitalization, those are longer admissions. the average length of stay is five days for patients with covid. the hospital is going to have a hard time discharging patients to free up new space even while accruing new cases. even if it peaks and looks like the situation is improving in the south, the strain on the health care system is going to lag by weeks. that s a difficult situation right now in states like texas, florida, louisiana, arkansas where you see systems get maxed out. you mentioned florida and texas. as you know, the governors in those states have said local
situation in terms of international travel and trade, and you ll see a world that is much poorer. the $9 trillion could be added to the economy, half of that accruing to the wealthiest countries in the next two years, if we can accelerate and get vaccines out, so it s not about getting the pandemic under control and saving lives which is amount but also getting the global economy up and running, protecting people living in wealthy countries who right now are vulnerable dangerous variance emerging when the vaccine continues to spread unchecked. thank ou so continues to spread unchecked. thank you so much continues to spread unchecked. thank you so much for continues to spread unchecked. thank you so much forjoining continues to spread unchecked. thank you so much forjoining us
enforcers on the beat and want a stronger irs to go after these billionaires to go after them. i think you made an important point that s worth everyone fixating on, which is when it s happening like this, it is about government. it is not about the markets. the markets don t historically lead to this level of inequity if they are regulated. it is not, oh, yeah that s what the market said. tens of millions of dollars do well for themselves. this is beyond. this is billions of dollars. how did that happen? that was a government failure. yeah. that allowed you to corner markets and swap outcome pet tors and accrue more and more wealth and hide that wealth, move that wealth so it s tax incentivized and you are accruing via the stock market gains after gains after gains. i m only interrupting with