'Back to the fundamentals’: Economics of living in America

Maybe I'd agree with more of what was being said if so many things were not plain wrong.

This is about taxes (initially), and he gets some fundamentals quite wrong. He forgets that the "poor" may pay relatively more in tax as a percentage of their income than their wealthier neighbours by virtue of the regressive nature of the current US tax system, eg, sales taxes and tariffs. Talking in aggregates is very misleading without a lot of qualifiers. This issue was recognised even in Biblical times.

The burden of a tax is who pays what. Who is paying for the tariffs? The consumer or the seller? Maybe half half, whatever. A trite example. Not whether the wealthiest pay 100 million and the poor only pay 1 million. That is something quite different and confused Mike gets wrong.

A given at 7:24 - capitalism has nothing to do with distribution of results, it merely carries information about prices. No - the latter describes a market economy. Capitalism is a legal concept of private ownership of productive resources.
Confused Mike provides an example. Wrong. That you pay a tradesperson to fix something is what happens in a market economy characterised by the specialisation of skills.

That tradesperson may be in the employ of the government. Governments are not capitalists. This is commonly known as a mixed economy. Most are.

"the system as is presented to me doesn't work". Well, obviously. The person who says that has been taught incorrect information by the likes of confused Mike.

She says that kids ought to be taught more about what capitalism is. Sure, as with a lot of things important in life. But then she gets flustered and goes in circles. Does she own a business? I don't know.

Sigh. These people are presenting themselves as experts.

I love that last quote about capitalism

just know that if it benefits anyone other than the orange traitor; it is not happening.