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Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by lifeexplorer
My point is that wealth is not static and rich people lose their wealth very quickly.
That's the key here. In US, there's no social or legal restriction for us to get rich. All of us with the right brain can get rich - even the capital is not a problem.
But you realize that if everyone were rich, that no one would be rich, right? So it's not possible for everyone to be rich
But you realize that if everyone were rich, that no one would be rich, right? So it's not possible for everyone to be rich
Of course, I know. It's not possible for everyone to be rich.
More important, not everyone wants to be rich. For most people, as long as they can pay for the bills, they don't have much intensive to be rich. That's our choice.
I am pretty content with the money I have. I have no desire to be the super rich.
That's the key here. In US, there's no social or legal restriction for us to get rich. All of us with the right brain can get rich - even the capital is not a problem.
Where does the said immigrant get the money to even open a small taco stand? If the person has $0, he wouldn't be able to do anything.
I don't believe for a second that you're an immigrant.
Immigrants frequently open businesses with zero capital. There are many non-traditional ways of obtaining loans, from borrowing from friends/family members to using inter-ethnic pooled resources. In Carribean countries they call this Susu, but there are words for this among the Chinese, Koreans, etc.
They also use family/friends as "employees" at the very beginning, at no pay. What happens is when their friends open a business, the business owner will reciprocate, for a time. They're lifting each other up.
How do you think immigrants open businesses at a much higher rate than native-born Americans? It isn't because they're swimming in liquid assets.
I don't believe for a second that you're an immigrant.
Immigrants frequently open businesses with zero capital. There are many non-traditional ways of obtaining loans, from borrowing from friends/family members to using inter-ethnic pooled resources. In Carribean countries they call this Susu, but there are words for this among the Chinese, Koreans, etc.
They also use family/friends as "employees" at the very beginning, at no pay. What happens is when their friends open a business, the business owner will reciprocate, for a time. They're lifting each other up.
How do you think immigrants open businesses at a much higher rate than native-born Americans? It isn't because they're swimming in liquid assets.
LOL!
Tell us how you got rich please. Did you inherit your money, win the lottery or make it on your own?
Not at first; however, Walmart wouldn't be able to grow this fast without borrowed money. That's a fact.
The fact remains that he wasn't rich when he started out, and that he created a lot of jobs before he became wealthy. The fact remains that small businesses are owned by people who aren't rich, and they employ the majority of people in the private sector in this country. It's middle-class people who go out and start businesses who create jobs in this country. And you can try to spin it that it's rich people creating the jobs, but the truth of the matter is that rich people, like our President, don't invest their money, they find ways to use other people's money, middle-class people's money. Rich people borrow money from banks to invest, and they protect their own money. That's why our President declared bankruptcy six times. He declared bankruptcy against the money he borrowed, while he never put his own assets at risk. If rich people don't use their own assets when they invest, then, no, they aren't creating the jobs, not directly or indirectly.
The fact remains that he wasn't rich when he started out, and that he created a lot of jobs before he became wealthy. The fact remains that small businesses are owned by people who aren't rich, and they employ the majority of people in the private sector in this country. It's middle-class people who go out and start businesses who create jobs in this country. And you can try to spin it that it's rich people creating the jobs, but the truth of the matter is that rich people, like our President, don't invest their money, they find ways to use other people's money, middle-class people's money. Rich people borrow money from banks to invest, and they protect their own money. That's why our President declared bankruptcy six times. He declared bankruptcy against the money he borrowed, while he never put his own assets at risk. If rich people don't use their own assets when they invest, then, no, they aren't creating the jobs, not directly or indirectly.
The fact remains that most companies borrow money from the rich to operate. The fact also remains that without the rich people's money, we wouldn't have our current modern life - imagine a world where nobody is allowed to borrow money or charge interest.
Any Joe/Jane can go down to the office and open a business.
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