- The rich don't generate jobs. Rising tides do not lift all boats. And they probably built that with government help
- The 1 percent are parasites.
- Excerpted from "Why We Can't Afford The Rich"
- 10 Government Handouts That Prove Who The Biggest ‘Takers’ Actually Are
Andrew Sayer, Salon
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Edward Lampert, Jamie Dimon, Donald Trump (Credit: AP/Gregory Bull/J. Scott Applewhite/Reuters/Steve Marcus)
Saturday, Apr 11, 2015 | ‘When did you last get a job from a poor person?’ So goes my favorite Tea Party slogan. The Americans are good at slogans but the Tea Party specializes in discombobulatingly daft ones. Of course you won’t get a job from a poor person, we wearily concede, but it doesn’t follow that the rich create jobs, as if they have special powers that turn their gains into a gift of jobs to the rest of us. U.S. billionaire Nick Hanauer is refreshingly honest
about this: ‘If it was true that lower taxes for the rich and more wealth for the wealthy led to job creation, today we would be drowning in jobs.’ So why hasn’t the spectacular shift in income and financial wealth to the rich over the last four decades led to unprecedented jobs growth?
First of all, we need to ask what the rich and super-rich do with their spare money. They generally use it to try to get even more, through either real investment or financial ‘investment.’ In the latter case, whether by betting on market movements or buying income-yielding assets, or the many other ways unearned income can be extracted, their actions are unlikely to result in net job creation. Some ‘investment’ is used to buy up firms in order to sell off parts of them – to asset-strip them, in other words. This is likely to result in job losses, and indeed may reduce the ability of the firm to produce in the long run. Many companies have boosted their profits by cutting jobs.
Andrew Sayer wrote “Why We Can’t Afford The Rich.”
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10 Government Handouts That Prove Who The Biggest ‘Takers’ Actually Are, Sarah, Addicting Info
So, don’t tell me policy isn’t written to make the rich richer and the poor poorer… because that’s exactly how it’s written. And please stop blaming poor people for trying to survive.
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