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Wealthy American Admits the Wealthy Don't Create Jobs
Gee, really? As if we didn't already know this.
Finally, A Rich American Destroys The Fiction That Rich People Create The Jobs
"The company's customers buy the company's products, which, in turn, creates the need for the employees to produce, sell, and service those products. If those customers go broke, the demand for the company's products will collapse. And the jobs will disappear, regardless of what the entrepreneur does."
So, in a nutshell, you mean it's CONSUMER DEMAND that creates jobs? No way!
__________________ "No one walking this earth knows what is truly righteous"
Last edited by PatriotsReign; 12-16-2011 at 05:52 AM..
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Re: Wealthy American Admits the Wealthy Don't Create Jobs
I think things are a little more comprehensive PR. Clearly consumers are the driver. Without consumers there isn't any demand, and while I'm always wary of the political lines of "fair share" or "rich people create jobs", the article ignores the point of investment. It's people with money, or institutions with money, that invest in companies. My point is that it's never as simple as "fair share" or "rich people create jobs". It's much more comprehensive than that.
Ok maybe two points.
Quote:
With the more than $9 million a year Hanauer keeps, he buys lots of stuff. But, importantly, he doesn't buy as much stuff as would be bought if that $9 million were instead earned by 9,000 Americans each taking home an extra $1,000 a year.
We all know I think cap gains should be raised, so I'm not in any way a lackey for the "rich". The above, which granted can be taken to be a mere point of spending, ignores the fact that this $9 million is his (the earners), and leads to spending in places where 9 million people earning $1,000 wouldn't. Be it by purchasing that plane he mentions, or by investing it, even in a bank, which then turns around and loans it to people who expand growing businesses. Obviously there needs to be a certain balance put in place, but the notion that "rich people do/don't create jobs" is disengenuous when used by either party. They infact do, but simply as a piece to a much larger puzzle.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
Last edited by Real World; 12-16-2011 at 11:45 AM..
The graph doesn't include anything about exemptions and deductions just the top marginal rate, the entire tax code can effect economic behavior.
IOW Meaningless.
__________________
"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
Re: Wealthy American Admits the Wealthy Don't Create Jobs
Quote:
Originally Posted by PatriotsReign
So, in a nutshell, you mean it's CONSUMER DEMAND that creates jobs? No way!
Or it is a clown like Bernie Marcus fueling the GOP fire by saying things like this:
Quote:
Home Depot co-founder Bernie Marcus tells Fox News' Neil Cavuto that he would not be able to start the Home Depot company under current economic conditions. He says there is an "anti-business" attitude coming from the White House and Washington right now.
Re: Wealthy American Admits the Wealthy Don't Create Jobs
Quote:
Originally Posted by Real World
I think things are a little more comprehensive PR. Clearly consumers are the driver. Without consumers there isn't any demand, and while I'm always wary of the political lines of "fair share" or "rich people create jobs", the article ignores the point of investment. It's people with money, or institutions with money, that invest in companies. My point is that it's never as simple as "fair share" or "rich people create jobs". It's much more comprehensive than that.
Ok maybe two points.
We all know I think cap gains should be raised, so I'm not in any way a lackey for the "rich". The above, which granted can be taken to be a mere point of spending, ignores the fact that this $9 million is his (the earners), and leads to spending in places where 9 million people earning $1,000 wouldn't. Be it by purchasing that plane he mentions, or by investing it, even in a bank, which then turns around and loans it to people who expand growing businesses. Obviously there needs to be a certain balance put in place, but the notion that "rich people do/don't create jobs" is disengenuous when used by either party. They infact do, but simply as a piece to a much larger puzzle.
All solid and valid points and I agree with all of them...damn it!
So it's really a 2-way isn't it? We need people investing and expanding in order to create jobs and we need consumer's disposable income to be increasing so that demand increases...got it.
So how do you get overall consumer spending to increase so investors will expand?
Consumers need to cut back on spending to de-leverage from debt. Which means that we won't see expansion for a while.
__________________ "No one walking this earth knows what is truly righteous"
Re: Wealthy American Admits the Wealthy Don't Create Jobs
The business started quoted in the OP article started an internet website which is not capital intensive in many situations your need the capital to create the products and services to fulfill customer/market demands.
You can't treat it in a vacuum.
__________________
"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
Re: Wealthy American Admits the Wealthy Don't Create Jobs
Quote:
Originally Posted by PatriotsReign
Times were just beginning to get bad in '78...but they never got close to being as bad as economic conditions are now.
If Bernie said that because he supports the GOP, he's an idiot. But I don't know what his motive was.
Bernie has been *****ing about this since Obama was elected. I really don't know what his problem is as I can't think of any regulations that would effect Home Depot. They are a retailer.
Apart from lumber, plants, and some bathroom fixtures, most of the stuff they sell is imported.
I was 6 in 1978 so I will defer to you when it comes to the economic climate back then but I will say that taxes were much higher back in those days.
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Wealthy American Admits the Wealthy Don't Create Jobs
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