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Capitalism works fine as long as the people who earn the money get to keep the money.
Not in my opinion, there's more to it...
Capitalism works fine as ling as the people who earn the money keep the money in the economy.
When the 1% collect the money and do not put it back into the economy, essentially siphoning it off, everyone suffers but them.
When the incredibly shrinking middle class do not have money to spend the economy tanks and everyone feels the effect.
Capitalism works fine as long as the people who earn the money get to keep the money.
Not in my opinion, there's more to it...
Capitalism works fine as ling as the people who earn the money keep the money in the economy.
When the 1% collect the money and do not put it back into the economy, essentially siphoning it off, everyone suffers but them.
When the incredibly shrinking middle class do not have money to spend the economy tanks and everyone feels the effect.
Where else, except for the economy, can the rich put their money?
Tons of jobs are created by immigrants, many of which are poor. Immigrants produce roughly 3x as many jobs as native-born Americans largely because they are much more likely to start new businesses. And many of these immigrants start off as poor.
So the poor can generate business. This is pretty obvious, given that job growth is generally tied to entrepreneurial activity, not wealth per se.
If I recall correctly, most that get food stamps recipients have jobs that don't pay enough to allow them to buy groceries. Of course, the employers paying them these wages count on the taxpayers to supply them with food and often housing so that they can reap maximum profits. Then the argument is, they should get an education, but someone has to do these jobs and the business owners don't want to pay them more and say that will drive up the prices, the lower prices being paid by all of those being critical of the very people that make those lower prices they pay at the retail store, the restaurant, the child care center, etc. possible.
If "ignorance is bliss", this thread is the "icing on the cake"!
Your insights and observations never cease to amaze.
Let's give an example that airs on the frickin' TV ... Shark Tank. The majority are start up businesses that 'poor' people created (people without independent wealth), sometimes they've already enjoyed a level of success and have a few employees. They come looking for an investor to help them launch/grow their business. If you watch some of the followups, these entrepreneurs, some are able to grow their businesses exponentially and now employee several dozens of employees. This is the American opportunity. These people do more than create their own success. They improve the lives of the people in and around their community.
This is absolutely right.
Quote:
Originally Posted by greyhorsewoman
The Koch Bros and Waltons create poverty. Their mega-stores/factories employ people at base wages, minimum hours to avoid benefits and then they let the government take on the burden of subsidizing them with food stamps and medical benefits. But that isn't even enough for them now. They want that money back in more tax breaks !
This is absolutely crap. How did you come up with this after your first paragraph?
No businessperson creates poverty or even wants to create poverty. If everybody is poor, who is going to buy their products and services?
Yes, it is an odd position for the OP to take. Many of the 'wealthy' that currently employ thousands of people were 'poor' when they first started out.
Some of said individuals:
Howard Schultz of Starbucks.
Shahid Khan, a poor immigrant from Pakistan, whom now owns the NFL team in Jacksonville.
Do Won Chang, an immigrant from Korea in 1981, now the owner of 480 stores selling clothing.
George Soros was very poor in his youth.
Indeed, the guy that works on my lawn tractor was out of a job with nothing to do. However, he knew how to fix small engines, and opened his own shop in my little east Texas town. He now has two shops, employing three people. He is not rich by any means, but he is a good representation of probably millions.
How many jobs did they create when they were dirt poor? The answer is 0.
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