Quantcast
Connect with us

America’s richest congressman says poor in the US are ‘envy of the world’

Published

on

Republican Rep. Darrell Issa of California (CNN)

California GOP Rep. Darrell Issa was challenged by CNN Money correspondent Cristina Alesci on Thursday after he seemingly downplayed income inequality issues in the US.

“America’s the richest country on Earth because we’ve been able to put capital together and we’ve been able to make our poor somewhat the envy of the world,” Issa told Alesci. “If you go to India or you go to any number of third-world countries, you have two problems: you have greater inequality of income and wealth. You also have less opportunity for people to rise from the have-not to the have.”

ADVERTISEMENT

“I don’t think the comparison is one we want to make,” Alesci responded. “We don’t want to compare ourselves to India. We want to set the bar pretty high.”

“Why shouldn’t we?” Issa countered, before telling her, “I appreciate your comment, but you’re wrong. You do have to compare yourself to the rest of the world. We compete with the rest of the world.”

Because the US operates in a global economy, he argued, it was important “that we’re able to amass capital, have a trained workforce. And quite frankly, if we want to get paid more, we need to be able to produce somewhat better than many of those countries, including India.”

Reporting by both CNN Money and the Washington Post corroborates Alesci’s point. Research has shown that not only is economic mobility more stagnant in the US compared to other developed nations like Japan, Germany and Australia, but
that it has remained stagnant for the past 50 years.

“It is not true that mobility itself is getting lower,” Harvard University economist Lawrence F. Katz told the Post. “What’s really changed is the consequences of it. Because there’s so much inequality, people born near the bottom tend to stay near the bottom, and that’s much more consequential than it was 50 years ago.”

ADVERTISEMENT

Issa, the former CEO of a California-based car security alarm company, has an estimated net worth of $450 million.

Watch the interview, as posted by CNN Money on Thursday, below.

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

The View co-hosts burst into laughter over Rudy Giuliani’s ‘Borat’ denials: ‘Please make it stop!’

Published

on

"The View" panelists burst into laughter over Rudy Giuliani's denial that he did anything inappropriate with a young actress in the new "Borat" sequel.

President Donald Trump's attorney appears as himself in the faux documentary "Borat Subsequent Moviefilm," starring comedian Sacha Baron Cohen and Bulgarian actor Maria Bakalova.

Giuliani accepts an invitation to join Bakalova, who plays Borat's 15-year-old daughter, for a drink in a hotel bedroom after an interview, and Cohen bursts into the room after Guiliani lies down on a bed and stuffs his hand into his pants.

"He says he didn't do anything inappropriate," said host Whoopi Goldberg. "He's just sort of, you know, tucking his shirt in when he was laying on his back."

Continue Reading

2020 Election

WATCH: Sacha Baron Cohen used Trump-loving OAN network to infiltrate the White House

Published

on

Sacha Baron Cohen managed to get the actress who plays Borat's daughter into the White House -- all with some help from the Trump-loving One America News network.

In a preview clip posted online, Cohen's Borat character claims that OAN White House correspondent Chanel Rion brought actress Maria Bakalova, who plays Borat's daughter in the latest movie, into the White House with her.

"They take my daughter into the White House!" Borat boasts. "No need for security checks or COVID test!"

Continue Reading
 

2020 Election

WATCH: Trump supporter gets tied up in knots defending president’s $750 income tax payments

Published

on

A support of President Donald Trump this week struggled to defend the president paying just $750 per year in federal income tax.

During an interview with CNN correspondent Elle Reeve, a half-masked Trump supporter said that he wasn't bothered by the president's low tax bill because he figured all rich people pay so little in taxes.

"I would love to be able to comment on that," he replied. "I don't know. And it's one of those situations where you and I can both sit here and say if we made that kind of money, you know, you're going to play the tax game. It's set for millionaires to play the game."

Continue Reading
 
 
Democracy is in peril. Invest in progressive news. Join Raw Story Investigates for $1. Go ad-free. LEARN MORE