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It turns out Americans have been asking the wrong question: It's not, \u201cWhat\u2019s the difference between the \u2018haves\u2019 and the \u2018have nots,\u2019\u201d but rather\u2026\u201cHow did those in the 0.1% end up having it all?\u201d\xa0\nTo paraphrase my guest, entrepreneur and venture capitalist Nick Hanauer (https://nickhanauer.com/), \u201cHow do [rich people like me] manage to grab an ever-increasing piece of the pie? Is it because rich people are smarter than we were 30 years ago? Is it that we\u2019re working harder than we once did? Are we taller? Better-looking? Sadly, no. It all comes down to one thing: economics.\u201d\nMy thesis? Capitalism is the economic system that creates wealth, and good economic policy is what ensures that all that wealth doesn\u2019t accrue to a very small group of people.\nLearn more about our sponsor, Vin Social: http://vinsocialvip.com/.\nTranscripts can be found at https://www.podpage.com/money-with-katie-show/.\n\u2014\nMentioned in the Episode\n\nNick Hanaeur's TED Talk "The Dirty Secret of Capitalism": https://www.youtube.com/watch?v=th3KE_H27bs \n\n\nJacob Hacker & Paul Pierson's The Winner-Take-All Economy: How Washington Made the Rich Richer and Turned Its Back on the Middle Class: https://politicalscience.yale.edu/publications/winner-take-all-politics-how-washington-made-rich-richer-and-turned-its-back-middle\n\n\nJared Bernstein & Karen Kornbluh's paper \u201cRunning Faster to Stay in Place: The Growth of Family Work Hours and Incomes": https://www.upi.com/Business_News/2004/07/20/Workers-put-in-more-hours-just-to-keep-up/79691090369058/\n\n\nReaganomics, FDR, & deregulation: https://origins.osu.edu/history-news/time-end-deregulation?language_content_entity=en\n\n\n"Reaganomics Killed America's Middle Class" from Salon: https://www.salon.com/2014/04/19/reaganomics_killed_americas_middle_class_partner/\n\n\nMarginal tax rates in 2022: https://www.nerdwallet.com/article/taxes/federal-income-tax-brackets\n\n\nCEO pay 300x the average worker: https://aflcio.org/paywatch\n\n\nReagan quotes via the Reagan Foundation: https://www.reaganfoundation.org/ronald-reagan/reagan-quotes-speeches\n\n\n"The Myth of the Welfare Queen" from The New Republic: https://newrepublic.com/article/154404/myth-welfare-queen\n\n\nThe Commodity Futures Modernization Act & the 2008 financial crisis: https://scholarship.law.cornell.edu/facpub/723/\n\n\nThe 2000-2001 California electricity crisis: https://www.ppic.org/wp-content/uploads/content/pubs/report/R_103CWR.pdf\n\n\n"Voodoo economics": https://www.investopedia.com/terms/v/voodooeconomics.asp\n\n\nUS GDP & tax revenue in the 1980s: https://fred.stlouisfed.org/series/GDP\n\n\nWealth inequality & GDP growth from OECD: https://www.oecd.org/newsroom/inequality-hurts-economic-growth.htm\n\n\nFederal debt under Reagan: https://mises.org/library/sad-legacy-ronald-reagan-0\n\n\nRevolve's Gestalt University: https://podcasts.apple.com/us/podcast/resolves-gestalt-university/id1463123745?i=1000510150469\n\n\nRAND Corporation on wealth transfers: https://www.rand.org/pubs/working_papers/WRA516-1.html\n\n\n"The Prosperity Gospel, Explained" from Vox: https://www.vox.com/identities/2017/9/1/15951874/prosperity-gospel-explained-why-joel-osteen-believes-prayer-can-make-you-rich-trump\n\n\n"Amazon Denies Workers Pee in Bottles. Here Are the Pee Bottles" from Vice: https://www.vice.com/en/article/k7amyn/amazon-denies-workers-pee-in-bottles-here-are-the-pee-bottles\n\n\nNick Hanauer in The New Republic, "Biden's Plan to Tax Rich People Like Me is the Best Way to Grow the Economy": https://newrepublic.com/article/163852/tax-rich-people-grow-economy\n\n\n\u2014\n\ufeffFollow Along at Money with Katie: https://moneywithkatie.com/\n\nFollow Money with Katie!\n- Instagram: https://www.instagram.com/moneywithkatie/\n- Twitter: https://twitter.com/moneywithkatie\n\xa0\nSubscribe to Morning Brew\n- Sign up for free today: https://bit.ly/morningbrewyt\n\nFollow The Brew!\n- Instagram: https://www.instagram.com/morningbrew/\n- Twitter: https://twitter.com/MorningBrew\n- TikTok: https://www.tiktok.com/@morningbrew\nLearn more about your ad choices. Visit megaphone.fm/adchoices