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"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
by mars4rp 7y 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 7y 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 7y ago"Bezos created jobs - unemployment rates are very low." I can't argue with this!