wealth, and to shift power from the ultrarich, in the corporate elite, to the vast majority of people in our city. i want to shift the wealthy people of color, i want to shift wealth to the working class families, i want to shift wealth to the lgbtq community, i want to shift wealth to seniors in this city, and i made that val, if you remember, i had the unfortunate luck of being elected as -- the same night as the president does the current president of the united states. i made that val vow the same week our country was reeling from the shock and the horror of this new tramp administration. i was filled with dread that our country would move in the opposite direction of everything that i believe in, and everything that i believe san francisco represents, and it has happens. we are moving in that direction. in contrast we are watching right now the triumphant arrival this week of many fresh newcomers. not only here to san francisco city hall, but also in congress.

a lot mostly pursued an agenda to bring our economy in favor of good corporations and sadly the ultrarich their efforts have only intensified over the trump presidency. the gop promise that the tax cuts and jobs act would bring real prosperity to working and middle-class families. but since the republicans pass the tax bill, corporate profit when adjusted for inflation have soared by an astounding 17 percent. at the same time the typical american worker have risen by a meager .02 percent. let me say that again. corporate profits have risen by 17 percent while wages have increased by 2/10 of a single percent. republicans have pursued a policy agenda that drives this result, not just with the tax cuts but they've done everything possible to repeal the Ãbact and rollback vital safeguards introduced in the wake of this financial crisis. during his tenure as head of the consumer financial protection bureau mulvaney works tirelessly to erode the agency from within. including his decision to strip power away from the office which protects communities of color against lending discrimination. it i

there is the populace desire to tax the ultrarich at high rates.ld not expect this conversation to go anywhere. i would probably bet in the nominee like joe biden, this is adopted by the heavy weights. >> neil: that's why robin was worried. he's in that ultra rich category. one of the things i find interesting, one alarming thing and the difference between the eisenhower years and kennedy years is that we have fewer and fewer people paying federal income taxes. half the american people don't pay program income taxes. that's not to despair them. but the fact of the matter is, as far as where we were back during the eisenhower years when the figure was close to 90%, we are not there. 90% of those paying in this country eligible tax filers, paying taxes of some sort of another to the federal government. we rely on fewer and fewer people. that's recipe for a problem. >> yeah. what americans need to recognize is that ultimately this is going to hurt the democratic party in the long run. they need to recognize these types of policies are not only unconst

this is the ultrarich. you're going to have to pay 2% a year of that amount over $50 million. and here's the deal about the money though. i want to underline this part. it's to use that money to build opportunity. for the rest of amare acan. so this is the kind of money -- think about this. over the next decade we could produce just short of $3 trillion. we could pay for child care, high-quality child care for all of our kids. it's the kind of money where we could do real relief on student loan debt. the kind of money where we could make a real start on a green new deal. it's the kind of money where we could bring down the cost of health care. it's the kind of money where you give somebody else in this economy a chance. a government that's not just working for the tippy top, a government that starts to work for the rest of america. >> i think overton window as they call it, the center of this conversation has shifted. alexandria ocasio-cortez, youvr rur come out with a wealth taxes idea which doesn't have a history in the u.s. >> no, this is brand new. >> i will note two peopl

polling shows, taxing the rich, particularly the ultrarich is popular thing and goes across political goes across geographical areas, across racial barriers. people doing well still resent those making billions? >> this is envy which is a cardinal sin. if people come up with products or services, make a lot of money, do so without putting guns to people's head, force them to turn over money that is a good thing. jeff bezos got to be richest man in the world, not setting up crime syndicate -- charles: bezos is great example. he is richest man in the world, but he doesn't have a lot of people working for him. the old robber-barons, say what you will, rockefellers and carnegie mellons, all those guys they had a lot of people working on railroads. they hired a lot of americans. these guys hire a handful of programmers and they become billionaires, they say something is screwed with that. >> you need a lot more people to lay down tracks and run a railroad than operate a website i propose. much more labor intensive type industry 100 years ago when than we have now. look at convenience, amaz

and you're going to have to pay, if you have more than $50 million in assets, this is the ultrarich,have to pay 2% a year of that amount over $50 million. >> the koch political network told donors it plans to sit out the 2020 presidential race and not help re-elect donald trump. the network led by charles koch has quietly told major donors in recent months it will stay out of the 2020 race. the decision comes as the political network has walked a tight rope of aligning with the president on some policy issues while withholding its electoral fire power on his behalf. meanwhile the operation still plans to support candidates for national races including senate and governor in 2020. >>> joining us now once again reporter for "the washington post" here on site eugene scott. let's talk a little bit about the santa ana of that the koch brothers want to withhold their donors or their donations to help re-elect president trump. one, how significant is that for other donors and two is this a very subtle message to say we might be inned in accepting someone who would primary the president with

haidi: beijing hoping to target the ultrarich, but some of these chinese billionaires are already squirreling their wealth. what do we know? china's, we know that taxman has been given additional tools to track -- target the rich to pay for these tax cuts for those on lower incomes and small businesses. we have seen the four wealthy tycoons, billionaires, have transferred about $17 billion worth of -- into offshore family trusts. they're in mind -- bear in mind, total wealth in china rose to 24 trillion u.s. dollars in 2018. among these four tycoons includes the chairman of -- the property developer. he transferred. he is one example. he transferred $4.5 billion into a family trust. ? into the extent to which china taxman will put in place these new tools he or she has being able to tax offshore companies and assets transferred from family members to family member. implementation will be key, but china's billionaires are taking steps to protect their wealth. a level of uncertainty over how much it can be targeted. uncertainty for china's billionaires and they are trying to take these steps wi

she is going after the ultrarich here. >> she is also people who hire a lot of people.ns stadium you'll notice there are a whole lot of people working there. those people have children that they putting through school, paying the dental bills. so it's this whole idea that somehow your money belongs to the federal government that elizabeth warren will take this ultrawealth tax and going to help someone really. she could tax all of dan snyder's money. if you don't have proper work skills today to get a job today you won't have them tomorrow morning when dan snyder's money is gone. >> sandra: not just that, charles. by this call she is saying that she knows how to spend his money better than he does. considering that yacht was built by a lot of people. >> bill: a luxury tax on it as well. the point is he earned it. we talk about a college drop-out. the youngest guy to have a company go public on the new york stock exchange. all this hoop la about howard schultz. another american success story who has long coattails and hired a lot of people particularly blacks, hispanics,