The committee will come to order. Thank you all for being here. Id like to thank the Ranking Member senator white house and the collaborator its great to be here and doing this together. I was just saying i told him that it would be nice to have the answers because hes a tough questioner and he will take you to task. Id like to thank the witnesses for your attendance and also highlight two empty chairs today which i say that he invited witnesses who apparently dont share your commitment to discussing the issues. One is for tiktok. If you dont know what tiktok is, you should. Its a chinese owned social media platform so popular among teenagers mark is reportedly spoofed. For facebook the fear is lost to social media market share and for the rest of us it is somewhat different. A company compromised by the Chinese Communist party knows where your children are, what they look like, with their voicewhat theirvoices sound like watching and what they share with each other. They claim they do
During the Great Depression which im old enough to remember there was. During the Great Depression which im old enough to remember there was and most of my family were unemployed working class there wasnt it was bed and most of my family were unemployed working class there wasnt it was bed you know much worse subjectively than today but there was an expectation that things were going to get much worse subjectively than today but there was an expectation that things were going to get better. There was a real sense of hopefulness there is a better. There was a real sense of hopefulness there isnt today. And today. Inequality is really unprecedented im sure that any quality is really unprecedented im sure that total inequality its like the worst periods of American History. Total inequality its like the worst periods of American History. But hes very funny. But he sure find it more closely the inequality comes from the extreme wealth and it more closely inequality comes from the extreme w
Working political asks. The other when i was innocent and it was bed you know much worse objectively than today but there was an expectation it was bed you know much worse objectively than today but there was an expectation that things were going to get better. There was a real sense of hopefulness the things were going to get better. There was a real sense of hopefulness there isnt today. There isnt today. Inequality is really unprecedented. Inequality is really unprecedented im if you look at total inequality its like the worst periods of American History. Im if you look at total inequality its like the worst periods of American History. But if youre a find it more closely inequality comes from the extreme but if youre find it more closely inequality comes from the extreme wealth in a tiny sector of the population fraction of one percent wealth in a tiny sector of the population fraction of one percent. There were periods like. There were periods like the gilded age in the twentys an
There were periods of percent. There were periods like the gilded age in the twentys and the early ninetys and so on when a situation like the gilded age in the twentys and the early ninetys and so on when a situation developed other similar to this. Now this period 6 tree hill rather similar to this. Now this period 6 tree because if you look at their Wealth Distribution the inequality mostly comes because if you look at their Wealth Distribution the inequality mostly comes from super wealth. From super wealth. Literally the top 110th of a percent are just super wealthy. Literally the top 110th of a percent are just super wealthy. Not only is it extremely unjust in itself. Not only is it extremely unjust in itself. Inequality has really negative consequences on the side it is an old inequality has really negative consequences on the side it is all. Because the very fact of inequality has a corrosive. Because the very fact of inequality has a corrosive harmful effect akerson. If harmfu
During the. During the Great Depression which im old enough to remember there was and most of my family were unemployed depression which im old enough to remember there was and most of my family were unemployed working class there wasnt it was bed you know much worse subjectively than today wood working class there wasnt it was bed you know much worse objectively than today but there was an expectation that things were going to get better. But there was an expectation that things were going to get better. There was a real sense of hopefulness there isnt today. There was a real sense of hopefulness there isnt today. Inequality is. Inequality is really unprecedented im sure that total inequality thats like the worst really unprecedented im sure that total inequality its like the worst periods of American History. Periods of American History. But if youre a find it more closely. But if youre a find it more closely the inequality comes from the extreme wealth in a tiny sector the puppy qua