A response to this Thomas Sowell video:
As I have pointed out many times before, Thomas Sowell is the go to "black friend" of racists everywhere. They love to repeat the disparaging things he says about black people and proclaim "A black guy said it, so it must be true!" Which would kind of be like me saying "Hitler had a point, Jews are terrible!" And the same people repeating that and proclaiming it's okay because a Jewish guy said it. That being said, he is an apologist for unregulated, out of control, oligarchic capitalism. Here he talks about how statistics are somehow skewed on the rich getting richer and the poor getting poorer because of capital gains and investments being counted improperly. He states "If you invest $10,000 in .....".....stop right there Thomas, if you can casually invest $10,000 in anything, gain or lose you are well ahead of the family of 4 that LIVES on $10,000 a year. Then he goes on to say that if inflation goes up and you do make money on your investment it somehow doesn't count because the purchasing power of the money you made is the same as what you invested. Yet the poor have been living on minimum wage scraps that have failed to keep up with inflation at all. Conservatives live to point out that 47% of people are "takers" on some kind of government assistance, more than ever under Obama....However corporations and the very rich are making windfall profits more than ever at the same time. THAT is the very literal definition of the rich getting richer and the poor getting poorer. Any statistics you manipulate or try to explain away doesn't change those very clear facts. He also said there are more people in the top 20% than the bottom 20%. Which is akin to saying a pound of lead weighs more than a pound of feathers.
Poisoning the well, deflection, and a several straw men. How typical.