Investment Manager Explains Why 99.5% Of Americans Can Never Win

[expat_panama]

...88% is small businesses (I mean real small, 5 employees or under)..

OK, we'll concede that this is how it may be on your planet--

--but back on Planet Earth we got the Census Br. saying on this site that--

--firms with 5 or less employees represent about a sixteenth of the hiring.

 

[SteadyMercury]

The rich produce about 12% of the jobs in America.

The other 88% is small businesses (I mean real small, 5 employees or under).

So the poor or middle class produce 88% of the jobs in America.

Don't like those stats?

Hey look it up yourself.

SMALL business is where most people work.

Are you sure? Census has stats here: Statistics about Business Size (including Small Business) from the U.S. Census Bureau

Unless I'm reading that wrong the third chart down says:

Firms with 500+ workers employ over 50% of all paid employees
Firms with 100+ workers employ over 65% of all paid employees
Firms with 20+ workers employ over 82% of all paid employees

Are you mixing up number of total enterprises vs. employees? I'd find it a lot more believable that 88% of all firms are small.

 

[orogenicman]

The rich produce about 12% of the jobs in America.

The other 88% is small businesses (I mean real small, 5 employees or under).

So the poor or middle class produce 88% of the jobs in America.

Don't like those stats?

Hey look it up yourself.

SMALL business is where most people work.

Are you sure? Census has stats here: Statistics about Business Size (including Small Business) from the U.S. Census Bureau

Unless I'm reading that wrong the third chart down says:

Firms with 500+ workers employ over 50% of all paid employees
Firms with 100+ workers employ over 65% of all paid employees
Firms with 20+ workers employ over 82% of all paid employees

Are you mixing up number of total enterprises vs. employees? I'd find it a lot more believable that 88% of all firms are small.

Are you suggesting that companies with 20 workers are anything other than small companies? Because regardless of whether we are talking about 5 or 100 employees, small business represents the bulk of the business that occurs in this country. This is remedial economics.

 

[SteadyMercury]

Are you suggesting that companies with 20 workers are anything other than small companies?

No, I'm suggesting the claim that 88% of the jobs in America are in small companies of 1-5 people is incorrect.

Because regardless of whether we are talking about 5 or 100 employees, small business represents the bulk of the business that occurs in this country. This is remedial economics.

Okay, prove it.

The link above to census stats shows of firms with 500+ employees accounted for approx 60% of receipts. It is a few years old so things might have swung 10% in the other direction (I have no idea) but unless you have something more recent showing otherwise or a better measure than revenue to define business that occurs you have brought nothing to the discussion.

 

[expat_panama]

...I'm suggesting the claim that 88% of the jobs in America are in small companies of 1-5 people is incorrect...

Huh, your self restraint is extraordinary. Another person would have described the 88% line as a baldfaced pathological damned lie. Ah, but 'incorrect' works too...

 

[orogenicman]

Are you suggesting that companies with 20 workers are anything other than small companies?

No, I'm suggesting the claim that 88% of the jobs in America are in small companies of 1-5 people is incorrect.

Because regardless of whether we are talking about 5 or 100 employees, small business represents the bulk of the business that occurs in this country. This is remedial economics.

Okay, prove it.

The link above to census stats shows of firms with 500+ employees accounted for approx 60% of receipts. It is a few years old so things might have swung 10% in the other direction (I have no idea) but unless you have something more recent showing otherwise or a better measure than revenue to define business that occurs you have brought nothing to the discussion.

Small business - Wikipedia, the free encyclopedia

Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. What constitutes "small" in terms of government support and tax policy varies depending on the country and industry. Small businesses range from 15 employees under the Australian Fair Work Act 2009, 50 employees according to the definition used by the European Union, and fewer than 500 employees to qualify for many U.S. Small Business Administration programs. However,in 2006 there were over 18,000 "small businesses" with over 500 employees that accounted for half of all the employees employed by all "small business".[1][2] Small businesses can also be classified according to other methods such as sales, assets, or net profits.

So, the U.S. government considers any business employing up to 500 people to be a small business. So, for instance, Microsoft is not a small business, but Burt Rutan's flying bat mitten birdie company likely is.

 

[flacaltenn]

The rich produce about 12% of the jobs in America.

The other 88% is small businesses (I mean real small, 5 employees or under).

So the poor or middle class produce 88% of the jobs in America.

Don't like those stats?

Hey look it up yourself.

SMALL business is where most people work.

In COMMERCIAL and SERVICE sectors this is intuituitively correct. There ARE a lot of hairdressers and plumbers. But my small biz exists to serve industry as does a llarge segment of this cohort. And many falling into this class are franchisees who are essentially leveraging off the successful and rich.This is way too simplistic. It was Jobs and Gates who ENABLED small biz to own the tools that PREVIOUSLY only the large companies could afford to have....

 

[expat_panama]

The rich produce about 12% of the jobs in America. The other 88% is small businesses (I mean real small, 5 employees or under)...

the U.S. government considers any business employing up to 500 people

We're talking about whether the rich hire the poor or do the poor hire the rich. We all need to agree that most people work for companies with hundreds of employees. We should also agree that a person who owns a company that size is not 'poor'.

 

[Rshermr]

The rich produce about 12% of the jobs in America.

The other 88% is small businesses (I mean real small, 5 employees or under).

So the poor or middle class produce 88% of the jobs in America.

Don't like those stats?

Hey look it up yourself.

SMALL business is where most people work.

In COMMERCIAL and SERVICE sectors this is intuituitively correct. There ARE a lot of hairdressers and plumbers. But my small biz exists to serve industry as does a llarge segment of this cohort. And many falling into this class are franchisees who are essentially leveraging off the successful and rich.This is way too simplistic. It was Jobs and Gates who ENABLED small biz to own the tools that PREVIOUSLY only the large companies could afford to have....

But you may want to try to understand that it was not jobs or gates that created jobs. Because, of course, they did not personally buy enough of their products to employ enough to do much of anything. It was the consumers who bought the products their people designed. And those consumers were mostly the middle class. And, of course, their employees designed and produced the products. Neither jobs nor gates produced much of anything. Nor designed much of anything.

And, before you get all lathered up, I am not saying that they were not necessary. They were. But that was their life. That was how they got their satisfaction. That was what they wanted. Along with the wealth and the power.

You really need to get a clue. Successful ceo's are successful BECAUSE they fill a need. They do not create economic demand. They simply recognize it and fill it. They do not design, for the most part. They hire people to design. They do not produce. They hire people to produce. And they do not buy.

Credit goes where credit is deserved. Consumers create jobs. Look up aggregate demand, and try to understand why it is important.

 

[expat_panama]

...ceo's are successful BECAUSE they fill a need. They do not create economic demand. They simply recognize it and fill it. They do not design, for the most part. They hire people to design. They do not produce. They hire people to produce...

Sounds like we're agreeing that designing and producing happens because CEO's hire designers and producers to design and produce. That means if we like design and production we need to thank a CEO.





You're welcome...

 

[Rshermr]

...ceo's are successful BECAUSE they fill a need. They do not create economic demand. They simply recognize it and fill it. They do not design, for the most part. They hire people to design. They do not produce. They hire people to produce...

Sounds like we're agreeing that designing and producing happens because CEO's hire designers and producers to design and produce. That means if we like design and production we need to thank a CEO.





You're welcome...

Yup. That is exactly what I said. You seem to think that I do not appreciate the functions that ceo's provide. Which would indicate that you can not read, I guess. Because I said they provide a useful function. So, I guess you are simply having an argument with yourself.
Which is, of course, a very typical indication of mental illness.

I did, of course, say that they do not design and do not produce. Yup, that would say, obviously, that ceo's are not productive. And that ceo's hire that done. Now, could you actually think, you would understand that production and design would quickly end if consumers did not provide demand for the product. Obviously. You simply tend to leave out workers, and consumers. I suppose that is the economic example of a one legged stool.

I see you feel that we should thank ceo's. I would suggest that we need to thank workers and consumers, without whom the ceo would not have a job. And would not make millions of bucks. So, if that is insufficient thanks for the ceo, then thanking them is fine with me.

 

[Dot Com]

Its rigged game you Randians!!!

JPMorgan Hiring Put China’s Elite on an Easy Track

 

[expat_panama]

...ceo's are successful BECAUSE they fill a need. They do not create economic demand. They simply recognize it and fill it. They do not design, for the most part. They hire people to design. They do not produce. They hire people to produce...

Sounds like we're agreeing that designing and producing happens because CEO's hire designers and producers to design and produce. That means if we like design and production we need to thank a CEO.





You're welcome...

Yup. That is exactly what I said. You seem to think that I do not appreciate the functions that ceo's provide...

Not sure how you got that, or whether there's still some part of "we're agreeing" that's still unclear...

 

[SteadyMercury]

Small business - Wikipedia, the free encyclopedia

Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. What constitutes "small" in terms of government support and tax policy varies depending on the country and industry. Small businesses range from 15 employees under the Australian Fair Work Act 2009, 50 employees according to the definition used by the European Union, and fewer than 500 employees to qualify for many U.S. Small Business Administration programs. However,in 2006 there were over 18,000 "small businesses" with over 500 employees that accounted for half of all the employees employed by all "small business".[1][2] Small businesses can also be classified according to other methods such as sales, assets, or net profits.

I asked for proof that small business account for the bulk of US business that happens, and you provide a wiki link that basically says the definition of small business depends on how you're looking at it.

You forgot to post this part of your link:

In the United States the Small Business Administration establishes small business size standards on an industry-by-industry basis, but generally specifies a small business as having fewer than 250 employees for manufacturing businesses and less than $7 million in annual receipts for most non manufacturing businesses.[2]

So I ask again, can you provide proof to back up your claim "small business represents the bulk of the business that occurs in this country"

Hint = a wiki link saying the definition of small business varies doesn't help.

 

[flacaltenn]

The rich produce about 12% of the jobs in America.

The other 88% is small businesses (I mean real small, 5 employees or under).

So the poor or middle class produce 88% of the jobs in America.

Don't like those stats?

Hey look it up yourself.

SMALL business is where most people work.

In COMMERCIAL and SERVICE sectors this is intuituitively correct. There ARE a lot of hairdressers and plumbers. But my small biz exists to serve industry as does a llarge segment of this cohort. And many falling into this class are franchisees who are essentially leveraging off the successful and rich.This is way too simplistic. It was Jobs and Gates who ENABLED small biz to own the tools that PREVIOUSLY only the large companies could afford to have....

But you may want to try to understand that it was not jobs or gates that created jobs. Because, of course, they did not personally buy enough of their products to employ enough to do much of anything. It was the consumers who bought the products their people designed. And those consumers were mostly the middle class. And, of course, their employees designed and produced the products. Neither jobs nor gates produced much of anything. Nor designed much of anything.

And, before you get all lathered up, I am not saying that they were not necessary. They were. But that was their life. That was how they got their satisfaction. That was what they wanted. Along with the wealth and the power.

You really need to get a clue. Successful ceo's are successful BECAUSE they fill a need. They do not create economic demand. They simply recognize it and fill it. They do not design, for the most part. They hire people to design. They do not produce. They hire people to produce. And they do not buy.

Credit goes where credit is deserved. Consumers create jobs. Look up aggregate demand, and try to understand why it is important.

No sir.. You're very wrong.. Folks like Jobs and Gates created MILLIONS of jobs that never existed before their tools were invented and developed... It DEMOCRATIZE commerce in very fundamental ways..

TODAY -- you don't DEPEND on RCA or a giant music company to get your "ART" to market. BECAUSE of those innovations, any entertainer can publish, produce and market to a wide audience with a modest investment and WITHOUT approval from a giant corporation. Same with revolutionizing media delivery. Or the MILLIONS of jobs that were invented to design web sites, write apps for portables or design complex products from a home basement..

Economies cannot run on Service industries --- which is where most small biz is located. It is the folks that INNOVATE and offer NEW products that expand and nourish any economy. The Service sector FOLLOWS innovation.. By definition, mere consumers and working poor are NOT big in the innovation biz.. A consumer driven economy will produce a nation of technology beggars who must steal, or borrow ideas and products from other nations..

By the way --- the SIZE of small biz has no bearing on the WEALTH of the owner.. There is a similiar distribution of wealth in any size of biz.. Most of the Multi-millionaires who are professional "Corporate Board Members" consider themselves to be "small biz" for example.

So even in businesses with less than 20 employees, the shape and stats of the wealth distribution will be SIMILIAR to the general biz population..