The Rich Don't Create Jobs

[Dragon]

I'll put it differently then: Who CAN create jobs which grow the economy? Government is the wrong answer, because government doesn't produce.

Actually that's not true, the government certainly can create jobs and it does produce. However, that's not really the answer to look for.

The proper answer is that it's the wrong question. We're not facing a problem of CAN. We're facing a problem of WILL. Jobs WILL not be created as long as there are no customers for the products to be produced by them.

The underlying problem is that wealth in our economy is badly maldistributed. Too much of it is going to too few people. Those few people don't represent enough consumer demand to justify investing all that money in anything productive.

The solution is to redistribute wealth: drive wages up, bring manufacturing home, encourage unions, discourage concentration of wealth. This will not only be fairer, but also help the economy. Because what the economy is suffering from at this time is a customer shortage, and higher wages will create more customers (or more affluent customers which amounts to the same thing).

More money to rich people will NOT create jobs.

More money to middle class and poor people WILL create jobs.

It's that simple.

 

[Mr.Nick]

[
The customers have to have the capital in order to be customers. The capital used in order to pay those potential customers, which enables them to consume, comes from investors or entrapreneurs.

Not necessarily. It can come from banks; plus, rich people already have plenty of money. (That's why we call them "rich people.")

Capital is already there; no need to worry about that. Money in the hands of people who will buy the products -- that's NOT already there. That's what we need to worry about.

More money to rich people does NOT create jobs.

More money to middle class and poor people DOES create jobs.

That's the bottom line.

Banks don't loan to someone who has no collateral.

Which is why the CRA was a bad idea - free homes for everyone - homes they used to get credit cards and destroy the economy...

Then they played victim when the free money dried up and their homes were lost.

 

[pete]

Multi millionaires love beating up on "high income earners" because they aren't really part of that. They've already made their money. If Warren Buffet earned $1 a year for the rest of his life he would still be among the 4 richest men in America.
Only lib-retards fall for crap like this when they see it.
Job creation takes capital. Rich people have capital. They invest their money directly or indirectly and capital flows to the real creators, entrepreneurs and other middle class and rising people.
No surprise a retard like RDD would fall for this. He walks around with a "kick me I'm stupid" sign on his back.

Right simply put if buffet and the rest of the rich all closed their multi level sister and parent companies how many jobs would that create??????

 

[Rozman]

And customers get that money from somewhere - someone worked somewhere down the line to pay for those products and those people were paid by people WHO HAVE MONEY..

It starts with the customers, not the capital. If necessary, capital can be borrowed. Customers can't.

More money to rich people does NOT mean more jobs.

More money to middle class and poor people DOES mean more jobs.

Hmmmm

Did Apple wait for customers to line up at non existent stores waiting for the new Apple product?

Or did Apple create the product and watched as the customers lined up around the block

 

[lizzie]

I'll put it differently then: Who CAN create jobs which grow the economy? Government is the wrong answer, because government doesn't produce.

Actually that's not true, the government certainly can create jobs and it does produce. However, that's not really the answer to look for.

What does the government produce that adds to the economy? Where's the profit?

 

[Mr.Nick]

[
You need capital before you even have the opportunity to provide a customer with goods or services..

You don't NEED capital because you already HAVE capital.

Capital can be taken for granted. There's plenty of capital. We do not have a capital shortage. We have a customer shortage.

More money to rich people does NOT create jobs.

More money to middle class and poor people DOES create jobs.

People aren't born with capital..

You gain capital via WORK...

For some reason I believe you don't even comprehend the basis of ANY economy - which is production..

You seem to be advocating just giving people free money for no fucking reason at all out of an ignorant belief that the more money people have the more WEALTH THEY WILL HAVE.........

You clearly have absolutely NO IDEA as to what gives our dollar value..

If you just gave people money there would be more money hence products would be more expensive. It's called inflation and it would solve absolutely NOTHING..

If you make 500 bucks a week now and milk costs 3 bucks a gallon then the government printed a bunch of money and gave you 500 more a week making your total $1,000 a week and milk was then 6 bucks a gallon - were you better off when you were making 500 bucks a week or 1,000 a week???

It's the SAME...

 

[WatertheTree]

Straight from the horses mouth. A multi-millionaire describing how backwards it is to give the rich tax breaks to create jobs. It's a terrible idea that has never been shown to work anywhere but the parrots continue to refer to it.

Raise Taxes on Rich to Reward True Job Creators: Nick Hanauer - Businessweek

"That’s why I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is the feedback loop between customers and businesses. And only consumers can set in motion a virtuous cycle that allows companies to survive and thrive and business owners to hire. An ordinary middle-class consumer is far more of a job creator than I ever have been or ever will be."


Bonus points to the first idiot who says, "nothing is stopping him from sending more money to the government".

While I completely disagree with tax breaks for the "job creators", let's face it, the poor create even fewer jobs than they do...

Actually your wrong. Its the demand for goods and services from the masses (the poor people) that creates jobs. If you think I am wrong then maybe you can explain to me how long you think GM will stay in business if poor people stopped buying there cars??

Oh wait, no purchasing power among the ranks of the poor is exactly why were in the economic condition we are in. And that makes you a dumb-shit.

 

[Mr.Nick]

I'll put it differently then: Who CAN create jobs which grow the economy? Government is the wrong answer, because government doesn't produce.

Actually that's not true, the government certainly can create jobs and it does produce. However, that's not really the answer to look for.

The proper answer is that it's the wrong question. We're not facing a problem of CAN. We're facing a problem of WILL. Jobs WILL not be created as long as there are no customers for the products to be produced by them.

The underlying problem is that wealth in our economy is badly maldistributed. Too much of it is going to too few people. Those few people don't represent enough consumer demand to justify investing all that money in anything productive.

The solution is to redistribute wealth: drive wages up, bring manufacturing home, encourage unions, discourage concentration of wealth. This will not only be fairer, but also help the economy. Because what the economy is suffering from at this time is a customer shortage, and higher wages will create more customers (or more affluent customers which amounts to the same thing).

More money to rich people will NOT create jobs.

More money to middle class and poor people WILL create jobs.

It's that simple.

You're economically retarded to an extent that is unimaginable...

You do realize if we made LCD TV's here using union labor you would be paying 2,500 instead of 300 right??? Of course the only fucks that could afford to buy them would be union workers...

Now replace LCD TV's with food and you have a bunch of starving motherfuckers while the chosen elitists (unions) tyrannically rule, consume and purge or cull anyone that is opposed to them.

Your ignorant idea has been tried many times and it lead to the death and murders of nearly a BILLION people collectively..

It's quite clear you have absolutely ZERO concept of capitalism and advocate socialism.

I'm sure you have a 5 year plan too...

 

[Mr.Nick]

Straight from the horses mouth. A multi-millionaire describing how backwards it is to give the rich tax breaks to create jobs. It's a terrible idea that has never been shown to work anywhere but the parrots continue to refer to it.

Raise Taxes on Rich to Reward True Job Creators: Nick Hanauer - Businessweek

"That’s why I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is the feedback loop between customers and businesses. And only consumers can set in motion a virtuous cycle that allows companies to survive and thrive and business owners to hire. An ordinary middle-class consumer is far more of a job creator than I ever have been or ever will be."


Bonus points to the first idiot who says, "nothing is stopping him from sending more money to the government".

While I completely disagree with tax breaks for the "job creators", let's face it, the poor create even fewer jobs than they do...

Actually your wrong. Its the demand for goods and services from the masses (the poor people) that creates jobs. If you think I am wrong then maybe you can explain to me how long you think GM will stay in business if poor people stopped buying there cars??

Oh wait, no purchasing power among the ranks of the poor is exactly why were in the economic condition we are in. And that makes you a dumb-shit.

GM wouldn't stay in business...

However one is not BORN WITH FUCKING CAPITAL - That is something you build.

Businesses need to hire - however they fucking WILL NOT HIRE if the government taxes excess amounts of taxes. The government may as well be taxing people out of jobs.

A business is in the market to make MONEY not provide you with a job. They're looking to survive and NOT fail...

Its not the businesses fault they cant afford to hire you or would find you redundant...

Businesses would LOVE to hire because that would create more consumers and spur an economic boom, however the GOVERNMENT IS ASSAULTING THEM WITH THEIR TAXES.

How can a business grow if its growth is TAKEN FROM THEM??

Not to mention the amount of small businesses that have failed because of high taxes, and consumers cutting back on spending that would have succeeded in a better economy.

 

[LordBrownTrout]

I'll put it differently then: Who CAN create jobs which grow the economy? Government is the wrong answer, because government doesn't produce.

Actually that's not true, the government certainly can create jobs and it does produce. However, that's not really the answer to look for.

What does the government produce that adds to the economy? Where's the profit?

As you said, it doesn't produce. It takes in taxpayer monies and is obligated, according to the constitution, to balance it's ledger, although it hasn't done so in a few years.

 

[Mr.Nick]

Actually that's not true, the government certainly can create jobs and it does produce. However, that's not really the answer to look for.

What does the government produce that adds to the economy? Where's the profit?

As you said, it doesn't produce. It takes in taxpayer monies and is obligated, according to the constitution, to balance it's ledger, although it hasn't done so in a few years.

Our federal government has no reason to be effective because it has no competition.

At least states have competition.

 

[lizzie]

Actually that's not true, the government certainly can create jobs and it does produce. However, that's not really the answer to look for.

What does the government produce that adds to the economy? Where's the profit?

As you said, it doesn't produce. It takes in taxpayer monies and is obligated, according to the constitution, to balance it's ledger, although it hasn't done so in a few years.

Frankly, our government is like a black hole, lol. Sucks everything in til it collapses on itself.

 

[Katzndogz]

There would be no demand if there weren't rich people paying people money which they in turn use to CREATE A DEMAND for a product because they use that money to buy shit.

LOL! So without the rich, people wouldn't want to eat! Got it!


You are such a fucking moron. You really think that without wealthy people, all the farmland would lay fallow, don't you?

Did one caveman need a RICH guy to enable him to trade a arrow head he makes for a fish that another caveman caught?

The caveman with two arrowheads was rich. At least compared to the caveman with only one arrowhead.

 

[LordBrownTrout]

What does the government produce that adds to the economy? Where's the profit?

As you said, it doesn't produce. It takes in taxpayer monies and is obligated, according to the constitution, to balance it's ledger, although it hasn't done so in a few years.

Frankly, our government is like a black hole, lol. Sucks everything in til it collapses on itself.

Yeah, it would nice to jettison it off into another universe so it could collapse, leaving the rest of us to continue on.

 

[NYcarbineer]

I always got a job from people that had money...
I guess I was one of the few lucky ones.

I am closing in on retirement but if I find myself in need
of employment I will try to get a job from someone unemployed
and on food stamps....

I will post here how I made out if that happens.

So you're going to work at a grocery store that takes food stamps? Sounds like decent work in retirement.

Ah yes, the creepy 80 year old cart fetcher. A modern-day grocery store fixture.

 

[NYcarbineer]

I don't see rich people starting up businesses and hiring people around here. I do see regular middle/working class types doing so though.

 

[Crackerjack]

I don't see rich people starting up businesses and hiring people around here. I do see regular middle/working class types doing so though.

Well there ya go, anecdotal evidence trumps everything!

So you've seen the tax returns of these people you see starting businesses, right?

 

[LeftofLeft]

Straight from the horses mouth. A multi-millionaire describing how backwards it is to give the rich tax breaks to create jobs. It's a terrible idea that has never been shown to work anywhere but the parrots continue to refer to it.

Raise Taxes on Rich to Reward True Job Creators: Nick Hanauer - Businessweek

"That’s why I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is the feedback loop between customers and businesses. And only consumers can set in motion a virtuous cycle that allows companies to survive and thrive and business owners to hire. An ordinary middle-class consumer is far more of a job creator than I ever have been or ever will be."


Bonus points to the first idiot who says, "nothing is stopping him from sending more money to the government".

Many multimillionaires are elitists who have inherited their mass wealth. Reduction in taxes are for the entrepreneurs and capitlists who want to increase their wealth by expanding jobs.......not sitting idiling on the sidelines keeping it like the elitists.

Quite the contrary......rich people should not send more money to the government, they should send it to the economy for themselves and others. Leave the government out of it. Agreed?

 

[Crackerjack]

Many multimillionaires are elitists who have inherited their mass wealth.

If by "many" you mean between 2% and 10%, you are correct.

But they all wear top hats and monocles, so they're easy to spot.

 

[GHook93]

Depends on which rich person you are talking about:

(1) Executives at a large C-Corp: They get paid tradition income tax. Some buck the system, like Buffet, and issue stock options instead. For C-Corps the corporate, payroll and capital gains taxes effects their employment decisions not the income tax.

(2) The Rich Personal Investor: Income tax won't effect this guy since he is just investing his own money. HOWEVER, capital gains will. Say he is a venture capitalist. Capital gains will take away the amount he can invest in business or product he wants to invest in. Its also is disincentive to invest in the first place. Herman Cain is 100% right when he says capital gains are barrier between the business and the investor. Raise CG and you hurt people with big great ideas needing an investor.

(3) The Trust Fund Baby: They have other people manage their money. Not going to help or hurt them no matter where their taxes are at.

(4) SUCCESSFUL Small Business NON-C-Corps: This is 60% of the employers. Small businesses are defined as companies that employee <500 employees. Some small business aren't so small. These business can be SP, Partnerships, LLC, LLP and S-Corps. All these organizations have flow through taxation. So unlike the C-Corps they are not taxed at the entity level (Corporate tax) they are taxed on income by the owners. That mean they get hit with the income tax. Any raising in the income tax takes money away from the business. Take money away from the business mean cuts in other place (usually employment) and less hiring. Raising income tax hurts big time on employment here.
Then you have the payroll tax. While the payroll tax hurts C-Corps its a small business killer!

It also depends what you mean by rich. If you think rich is, as Obama thinks rich is, $250K and above then you are going to hit alot of Successful Small Business employers. If you think rich is $1 mil and above then you are probably save in that fact that it will hit mostly executive and highly compensated key employees in C-Corps, hence no effect on hiring.

If your small business profits more than 250k a year its probably not small.

First, small business is just a word. Flow through tax entities include LLC, LLP, S-Corps etc. Flow through tax entities get hit with the income tax just like any of there employees do. Raising the income tax on them effects there hiring decisions.

Second, SUCCESSFUL small business owners that employ up to 500 people SURELY make more than $250K some above $1 mil. Your a fool to think otherwise.