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Jobs are created by entrepreneurs. Successful entrepreneurs become wealthy and expand their businesses with that wealth, which is where jobs come from. Pretty simple.
I think what some people are saying is that many entrepreneurs start off poor or middle class, which is definitely true, but they can't create tons of jobs until they make the money to do it.
Jobs are created by the combination of entrepreneurs and investors (rich fat cats).
You still haven't answered the question. Your link is about as relevant to this thread as a recipe for matzoh ball soup.
Again, tell us how a wealthy person with their assets in index funds has some tangible, wealth-creating, job-producing affect? This should be good...
As simple as this.
1. Joe owns a company and he thinks it values at $1 million on the open stock market.
2. You say "I'll give you $2 M." (investing with Vanguard)
3. Joe accepts and hands you the key to his company.
4. You are now the new owner of Joe's old company, aka stock holders.
5. Joe takes your $2 M and opens a new company with 20 new employees.
Congratulations! You just helped to create 20 jobs with your investment with Vanguard.
Alternative, Joe takes your $2M and buys a boat instead.
Congratulations! You just helped boat industry which hire people to build Joe's new boat.
This is the cartoon version of the rich, possibly mixed with the false idea of a fixed economic pie.
There is no hoarding. They create wealth and, if they're successful, put it back into the company. It's not like there's this fixed amount of money for everyone, and they just keep it all for themselves, preventing anyone else from having any.
What blows me away is how people think taking from the greatest producers of wealth and giving to significantly less productive, or often completely unproductive, people is going to create more overall wealth in the economy.
The FACT is that 70% of the economy is driven by consumer spending.
It is a FACT that most of the wealth accumulation has gone to a very small group of people over the last decade.
It is a FACT that American companies are hiding 2.5 trillion overseas to avoid taxes.
Its a FACT that in 2004 George W. Bush, let corporations temporarily bring money from offshore profits at a flat rate of around 5.25%. But a few years later, Bush's own chief economic advisors said there was no evidence that jobs were created as a result.
It is a FACT that I bought a refrigerator last year. How many did Bill Gates buy? Consumer spending.
It is a FACT that if you ask any 'job creator' to create jobs they will say they can't unless there is a market to do so.
See FACT 1.
This is the cartoon version of the rich, possibly mixed with the false idea of a fixed economic pie.
There is no hoarding. They create wealth and, if they're successful, put it back into the company. It's not like there's this fixed amount of money for everyone, and they just keep it all for themselves, preventing anyone else from having any.
What blows me away is how people think taking from the greatest producers of wealth and giving to significantly less productive, or often completely unproductive, people is going to create more overall wealth in the economy.
I am rich. I am creating no jobs, except for a nanny.
I'm hoarding money, and certainly don't apologize for it, as I'm following all the rules.
But I'm blown away that people with far less assets than me think that I'm a "great producer of wealth" when the only person getting rich off me is my family. I don't even have a wealth manager; so there isn't some bean counter at Merrill Lynch making a bit more in bonus; it's all self-managed.
I'm even more blown away that the same people that think these "poor rich" are forced to "give to completely unproductive people" when they have their assets in untaxed funds. It's unbelievable.
Once you accumulate money, it is SO EASY to be comfortable forever. You could sit around all day and watch Jerry Springer, and you will still accumulate 10-15% annually. If you're already worth millions, obviously you're making millions without lifting a finger. Capital gains are taxed LOW and many funds escape ANY taxation. Yet people in the trailer park who don't have two nickels to their name, and who think Trump is just swell think we're wonderful people because we happen to have a fat investment account. Gee, thanks, I guess.
Why do Trump voters, the vast majority who are quite obviously not wealthy, not particularly educated, and not really understanding a damn thing about economics or wealth management, so convinced that wealthy people are these Godlike benevolent job creators while people like themselves are unworthy and evil? Is it self-hate? What the hell is going on? You've been conned, which should be quite obvious.
1. Joe owns a company and he thinks it values at $1 million on the open stock market.
2. You say "I'll give you $2 M." (investing with Vanguard)
3. Joe accepts and hands you the key to his company.
4. You are now the new owner of Joe's old company, aka stock holders.
5. Joe takes your $2 M and opens a new company with 20 new employees.
Congratulations! You just helped to create 20 jobs with your investment with Vanguard.
Alternative, Joe takes your $2M and buys a boat instead.
Congratulations! You just helped boat industry which hire people to build Joe's new boat.
I have no idea what any of this means. I suspect you have no clue what we're talking about here.
You don't seem to understand stock market valuations, wealth held in funds, or really anything re. wealth or wealth creation.
Only idiots buy companies with their own money, BTW. You aren't going to risk your kids future over a business decision.
The cardinal rule for buying stuff when you have real money- use OPM. Other People's Money. No developer or investor worth any credibility uses personal assets to finance purchases.
I have no idea what any of this means. I suspect you have no clue what we're talking about here.
You don't seem to understand stock market valuations, wealth held in funds, or really anything re. wealth or wealth creation.
Only idiots buy companies with their own money, BTW. You aren't going to risk your kids future over a business decision.
The cardinal rule for buying stuff when you have real money- use OPM. Other People's Money. No developer or investor worth any credibility uses personal assets to finance purchases.
Which is why trump has left a trail of wreckage behind in his BKs but he keeps toddling along.
I have no idea what any of this means. I suspect you have no clue what we're talking about here.
You don't seem to understand stock market valuations, wealth held in funds, or really anything re. wealth or wealth creation.
Only idiots buy companies with their own money, BTW. You aren't going to risk your kids future over a business decision.
The cardinal rule for buying stuff when you have real money- use OPM. Other People's Money. No developer or investor worth any credibility uses personal assets to finance purchases.
You just called every stock holder, including yourself, an idiot! Way to go.
You claim you are rich. Yet you have no clue how stock market works.
Go back to my example.
1. A team of stock owners owns the Company A which is valued at $100 B on the stock market and a part of Dow Jones index.
2. Vanguard took your $50 million and many other's money bought the index fund for $1 B. The index is actually a combination of company stocks and about 10% of which is Company A.
3. Obviously for Vanguard to purchase the stocks, some stock owners have to sell their holdings of Company A.
4. Those stock owners now take your money and open a new company with new employees.
Congratulations! You just helped to create news even you haven't done nothing but investing with Vangaurd.
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