"That Sort of Inequality Usually Ends Up Involving Piano Wire" — Heather Cox Richardson
Scott Galloway and Ed Elson talk with historian Heather Cox Richardson about what Democrats should do if they win the midterms. They also cover extreme wealth inequality and what past eras like Watergate and the New Deal teach.
The gist
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Galloway warns Democrats are mistaking a fling for real love, calling the expected win a red riptide driven by dislike of Republicans.
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Richardson says Democrats should move fast on popular bills like extending the child tax credit and Affordable Care Act subsidies, forcing Republican votes or vetoes.
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Richardson argues the progressive laws of 1977 and 1978, after the Watergate class, may have driven the Reagan revolution more than she once thought.
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Galloway notes the US Gini coefficient is 0.85, above the 0.83 level when the French Revolution began, and backs very high taxes above $100 million.
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Richardson says a winning coalition joins farmers, workers and small business owners against monopolies, as FDR did by presenting regulation as protecting capitalism.
Also mentioned
3:51
Forbes
· "Trump's own financial disclosure shows at least 2.2 billion in revenue in 2025, up from 622 million the..."
6:24
Daniel Kahneman
· "More money than you could ever spend, more money than you could ever want to be happy, and Daniel Kahneman..."
9:37
The New Yorker
· "One of my favorite cartoons ever is that one from The New Yorker of all the rich people in their incredibly..."
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