This “RICH PEOPLE DON’T CREATE JOBS” TedTalk is Cancer. Here’s our Response.
Have you seen this Tedtalk “Rich People Don’t Create Jobs?”
It’s cancerous.
But like most things, an appeal to emotion is a sound method of spreading an unsound philosophy.
Take the opportunity to understand how wealth is created and what ‘Grows’ an economy.
HINT: It’s not consumption, it’s savings.
Yeah, that guy misses the boat... pretty big time, but he sounds good.
First, we should get rid of the word rich.
Most entrepreneurs aren't rich, they just have a lot of cash flow through their hands. Entrepreneurs create jobs and things.
All of the rich today got that way by developing a monopoly and then getting the govern-cement to condone it. Such as the FED.
Its a rentier scheme.
It takes everything and gives nothing.
They can never be taxed.
They control everything that has a pyramid structure.
And they are less than a 1/10%.
The 1%, which most people call rich, are just dual, professional income, married couples. $100,000 each, that's $200,000 per year. That puts you into the top 1%. But, it will only buy you a McMansion.
So, we should wipe the word "rich" out of our vocabulary, because it is only used to beat people over the head with.
Tax the rich? Oh yeah, that's what they said when they implemented the income tax.
isnt there a cap on savings per year for an american citizen?
No, you can save 100% of your income if you want.
There is a limit on the amount you can put into certain investments (Roth IRAs, for example). those limits are there because it is a tax-free investment. You can max out your Roth ($5500 a year per person) and then put an unlimited amount into a traditional IRA (tax-deferred).
so this is only when you want to invest in retirement funds? You can still stash all the money ou want on your normal account without taxes?
Yes. 100% of your salary can be saved in a normal account if you wish.
Ah, thanks for clarifying. I only overheard it as a site note and I was like "wtf!?", but I guess it was out of context. It would be the ultimate tool to keep normal people out of the capitalist game.
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