Les Leopold understands the financial crisis. Better yet, he understands how to explain the financial crisis so that anyone can understand it. (Even me.)

Basically, in the mid-1970s the powers-that-be began a process of deregulation and tax “reform” for the wealthy to see if the economy could be stimulated through trickle-down economics: money gushes to the top (the wealthiest) and, in theory, some of it drips and dribbles down to the rest of us poor slobs. Great theory. Did it work? Well, yes and no. Yes, if you were one of those at the top, it stimulated your economy like gangbusters. The income disparity between the wealthiest CEOs and the lowest-paid worker grew from 40:1 to 1700:1. The trickle down part? Not so much.

In this video from Alliance for Democracy, Les Leopold explains what the heck happened, and what we can do about it.

Watch It Now

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