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ClaimAudio · 14:17 — 16:00

We are going to lose capitalism unless we find ways to address wealth concentration — giving people opportunity through school choice and invest accounts that get money out of government and into people's hands is part of the answer.

Fetterman and McCormick acknowledge wealth concentration as a huge, growing problem. McCormick argues that capitalism itself is at risk unless opportunity is spread, proposing Invest America accounts and school choice as market-based solutions that give people opportunity without more government control. ✦ AI generated

Dave McCormick · All-In Podcast · 2026-06-10 · original ↗

plays this moment only · 14:17 — 16:00

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Wealth concentration, the bottom half is not happy... do you have a plan?

No, it's a huge problem. And I don't think I listened carefully last night. I mean, I just want to tell you, that is a huge, huge problem that's growing. That median income in Pennsylvania is $52,000 a year. When you guys say AI or AI anxiety, I mean, these folks, they've been down this road once before when a bunch of smart, rich people said, we got the answer, it's called globalization. And what happened in my hometown is there was a mill of 2,000 people that got gutted. It's now 100 people. So there's enormous anxiety, but it's because there's no path to getting ahead. And everybody in this room, the last 10 years has been the greatest 10 years in the history of humanity for those who have assets. So do you have a plan? Yeah, well, there's got to be- And what is it? There's got to be a number of plans. Well, do you have a plan? Because it's not just going to be me, it's going to be us. Because right now, listen, I am a beneficiary of capitalism. I have been wildly fortunate because of capitalism. But we are going to lose capitalism unless we find a combination of ways to address it. So what are the ways? The Invest America accounts is a perfect way, right, where you are building opportunity for the next generation. The school choice provision in the Working Families Tax Cut Act, $1,700, everybody in this room can give $1,700 every year. Billions of dollars that are going to go into school choice for making sure everybody has equality of opportunity. If you don't do that at maximum scale, and this moment leaves the majority of Americans behind, we're not going to be able to get anything done.

verbatim transcript · starts at 14:17

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