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The problem I have with this article, and any discussion that simply involves "the rich" is that it doesn't distinguish between the true innovators (to be trite
by carsongross 15y ago
The problem I have with this article, and any discussion that simply involves "the rich" is that it doesn't distinguish between the true innovators (to be trite, the Steve Jobs' of the world) and the (much larger) financializers, who truly do not generate any wealth, but rather suck productive and innovative capacity dry.
Steve Jobs gave us plenty even if he had never paid a dime in taxes.
Hank Paulson ate arbitrage for decades, then bailed out the banks after exactly the policies he advocated for collapsed on themselves, and should be in jail.
If you don't distinguish between these two types of rich, you are being stupid.