3 ms·

Governments and low-net-worth individuals spend every penny they have, which keeps the economy moving, which creates jobs. The idea that giving all the money to

Governments and low-net-worth individuals spend every penny they have, which keeps the economy moving, which creates jobs. The idea that giving all the money to a few individuals to hold will work out better for everyone is very hard to rationalize, although it's understandable they like to repeat that notion.

WalterBright 8y ago
> which creates jobs It doesn't create jobs when the money is taxed away from those who invest in the businesses. High taxes correlate with low economic growth. > giving all the money People create wealth, it is not given to them. > to a few individuals to hold Wealthy people don't hold money. They invest it. Even money sitting in a checking account isn't actually there - the bank loans it out.
- mars4rp 8y ago
  "Wealthy people don't hold money. They invest it. Even money sitting in a checking account isn't actually there - the bank loans it out." What does government do with the money? The money is only productive in the billionaires bank account? "People create wealth, it is not given to them." People take wealth, if Bezos has $150B, he didn't create it out of thin air, he took the money out of lots of mom and pop shops that don't exist anymore. Did he actually created jobs or destroyed jobs?
  - WalterBright 8y ago
    > What does government do with the money? Mostly dissipate it. Your argument rests on the notion that government invests money more productively than wealthy people do. This is pretty hard to support, since the wealthy are wealthy because they are very good at productively investing the money. Bezos did create his wealth, in large part from the efficiency of getting products to customers, which is why customers preferred to shop at Amazon. They get a better deal. Bezos created jobs - unemployment rates are very low.
    - mars4rp 8y ago
      "Bezos created jobs - unemployment rates are very low." I can't argue with this!

WalterBright 8y ago

> which creates jobs It doesn't create jobs when the money is taxed away from those who invest in the businesses. High taxes correlate with low economic growth. > giving all the money People create wealth, it is not given to them. > to a few individuals to hold Wealthy people don't hold money. They invest it. Even money sitting in a checking account isn't actually there - the bank loans it out.

mars4rp 8y ago
"Wealthy people don't hold money. They invest it. Even money sitting in a checking account isn't actually there - the bank loans it out." What does government do with the money? The money is only productive in the billionaires bank account? "People create wealth, it is not given to them." People take wealth, if Bezos has $150B, he didn't create it out of thin air, he took the money out of lots of mom and pop shops that don't exist anymore. Did he actually created jobs or destroyed jobs?
- WalterBright 8y ago
  > What does government do with the money? Mostly dissipate it. Your argument rests on the notion that government invests money more productively than wealthy people do. This is pretty hard to support, since the wealthy are wealthy because they are very good at productively investing the money. Bezos did create his wealth, in large part from the efficiency of getting products to customers, which is why customers preferred to shop at Amazon. They get a better deal. Bezos created jobs - unemployment rates are very low.
  - mars4rp 8y ago
    "Bezos created jobs - unemployment rates are very low." I can't argue with this!