Name: Why Billionaires Won’t Save Us | Patriot Act with Hasan Minhaj | Netflix
Uploaded: 2020-03-30T07:32:09.000Z
Duration: 25 min 46 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Adverbs of manner

The season of giving is officially here and look,

I know it often seems like Americans are self-obsessed, narcissistic, and vain,

Transition words & phrases

We're obsessed with ourselves. Think about how pissed off you get

when your phone doesn't recognize your face.

You're like, “Excuse me, Apple. Do you even know who I am?”

But it's important to remember Americans are also incredibly generous.

Last year, Americans donated $428 billion.

We're home to some of the biggest charities in the world.

the best way to help your friend get used DJ equipment.

Now, American charities even gave us those star-infested music videos.

-♪ We are the world ♪ -♪ We are the world ♪

-♪ We are the children ♪ -♪ We are the children ♪

♪ We are the ones who make a brighter day So let's start giving ♪

Wait, wait, if you're trying to save the world,

your first thought shouldn't be, “Get me Jon Lovitz.”

Despite taking in record donations last year,

the actual number of Americans giving to charity

has been falling for almost fifteen straight years.

But the total share of donations coming from the ultra-rich is skyrocketing.

By one estimate, 30% of all charitable donations this year

are expected to come not from the top 1%,

This is the penthouse on top of the penthouse.

These are the people who hire Elton John to babysit.

Which is a symptom of a much bigger problem,

The 400 richest Americans own more wealth

Now the rich don't want us coming after them with pitchforks,

I've committed to a $100 million challenge grant.

Michael Bloomberg making a huge donation,

was only the second best part of that video.

The best part of that video is the guy's reaction in the corner.

Also, billionaires, come on. Stop giving out money through grants.

That shit's boring. I want to see cash exchanging hands.

Just once I want to see Warren Buffett giving out money like Drake.

♪ It's a lot of bad things That they wishin' and wishin' ♪

♪ And wishin' and wishin' and wishin' On me ♪

♪ She say, “Do you love me?” I tell her, “Only partly” ♪

♪ I only love my bed and my mama I'm sorry ♪

Hey, you didn't think Buffett could go hard, right?

Now, it feels good watching good things happen to good people.

That's why we love when rich people donate to scholarships,

low income housing, school laptops, mosquito nets, and divorce settlements.

but they can both afford to buy fresh brains with new memories.

But look, there's still a lot that's missing from this picture.

We always talk about how the rich make their money.

Right? But we almost never scrutinize how they give it away.

because giving money away is one of the main ways

they justify being so rich to begin with.

That's why I want to talk about big philanthropy.

Rich people are trying to make the world a better place.

But are billionaires really going to save us?

And it is it worth everything that we give up

Look, I'm not sure. 'Cause when you look at  the big philanthropy-big picture

a little closer, there's a lot of problems.

only about 9% of grant money makes it to communities of color.

Now, look. I'm not saying charity is bad.

When you Venmo 200 bucks to a homeless shelter, that's a good thing.

But big philanthropy goes way beyond basic charity that you and I do.

It's a whole system of financial tools and products that help the rich

give away their cash in ways that benefit them.

From pooled income funds to private foundations,

which help rich donors pay less income, estate and capital gains tax.

Then there's something called DAFs or Donor-Advised Funds,

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Why Billionaires Won’t Save Us | Patriot Act with Hasan Minhaj | Netflix

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