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Sorry, Folks, Rich People
Actually Don´t ´Create The Jobs´

Business Insider, by Henry Blodget

Original Article

Posted By:Desert Fox, 11/30/2013 11:35:30 PM

As America struggles with high unemployment and record inequality, everyone is offering competing solutions to the problem. In this war of words (and classes), one thing has been repeated so often that many people now regard it as fact. "Rich people create the jobs." Specifically, by starting and directing America´s companies, entrepreneurs and rich investors create the jobs that sustain everyone else. This statement is usually invoked to justify cutting taxes on entrepreneurs and investors. If only we reduce those taxes and regulations, the story goes, entrepreneurs and investors can be incented to build more companies and create more jobs. This argument ignores the fact

      


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Reply 1 - Posted by: Chuzzles, 11/30/2013 11:44:36 PM     (No. 9635302)

In their purchasing habits alone, the rich wives of society do their best to create lots of jobs. Those goodies don´t come out of thin air you know.

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Reply 2 - Posted by: Axeman, 11/30/2013 11:47:56 PM     (No. 9635307)

I have learned to recognize and avoid straw man arguments and articles like these.
The sentence that starts "If only we reduce those taxes..." is the key straw man set up. He looses me there.

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Reply 3 - Posted by: curious1, 11/30/2013 11:52:48 PM     (No. 9635309)

He´s peddling the baloney the libtards wish were true. If it were, they wouldn´t look like the economic idiots they are. Counter-argument: We know poor people create ZERO private sector jobs. (Loads of government-sector jobs are manufactured to consume tax monies stolen from working citizens to ´administer´ the freebies to the leeches.)

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Reply 4 - Posted by: msjena, 12/1/2013 12:01:22 AM     (No. 9635312)

How do "middle class people have money to spend" if they don´t have jobs? I haven´t read the article, but who does he think creates jobs if not people who are rich or trying to become rich?

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Reply 5 - Posted by: EQKimball, 12/1/2013 12:06:44 AM     (No. 9635314)

So much for Bill Gates, Steve Jobs, Mark Zuckerberg, Harlan Sanders, Marie Calendar, Howard Hughes, Walt Disney, Walter Knott, Henry Ford...

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Reply 6 - Posted by: chumley, 12/1/2013 12:39:33 AM     (No. 9635324)

Pure communist carp. Read the first few paragraphs. No more needed.
It is immaterial who creates jobs. What matters is who the money belongs to. Does it belong to those who earn it, or those who demand it FROM those who earned it?

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Reply 7 - Posted by: aasilver, 12/1/2013 12:43:17 AM     (No. 9635327)

Based on his thinking we need $35/hr minimum wages and 90% taxes on gross income.

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Reply 8 - Posted by: Shells, 12/1/2013 12:58:05 AM     (No. 9635333)

Here´s why you´re an idiot, Henry.
In a normal economy, the rich do create jobs.
But as you´ve observed, they are now hoarding and investing their money.
Why do you think that is? Take a few minutes. You´re obviously pretty thick.
OK. Here we go. They fear investing in Obama´s "economy."

Sooo. If all weren´t so screwed up in this world, the rich would be creating jobs, as they usually do.

And don´t call me "folks" you condescending twerp.


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Reply 9 - Posted by: ColonialAmerican1623, 12/1/2013 1:02:36 AM     (No. 9635335)

The jobs created by the poor are AA jobs in social services.

There is no more "gigantic middle class"

If the economy creates jobs, let´s blame Zippy for the last five years of misery.


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Reply 10 - Posted by: Trigger2, 12/1/2013 1:21:09 AM     (No. 9635344)

Where´d this jerk go to school? Soviet Russia? Cuba? North Korea? I never read such BS in my whole life other than the 2,000 plus pages of the demonrats BarryCare for which they had to pass it to find out what´s in it.

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Reply 11 - Posted by: Grateful, 12/1/2013 1:26:31 AM     (No. 9635352)

So,tell us Henry. Do you get a paycheck signed by lo-fo poor person?

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Reply 12 - Posted by: steveW, 12/1/2013 2:39:25 AM     (No. 9635395)

No, jobs are either created by the needs of the poor or the beneficent compassion and good intentions of Barack Obama.

Someone at Business Insider has been reading way too much Pope Francis. Socialism on the march...

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Reply 13 - Posted by: SaguaroJack, 12/1/2013 2:42:57 AM     (No. 9635397)

This may be the dumbest article I´ve read in years. To say "the economy" creates jobs is to say nothing. Without capital and risk takers on the ground, "the economy" creates nothing.

Duh.

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Reply 14 - Posted by: grundoon, 12/1/2013 2:47:44 AM     (No. 9635399)

"Or, to put it even more simply, it´s like saying that a seed creates a tree. The seed does not create the tree. The seed starts the tree." Uhhhh--Let´s see, without the seed there wouldn´t even be a tree (product/service) to nurture, therefore no jobs and therefore no economy. Looks like without the rich guy nothing happens. Is this guy that blind? I guess you don´t have to be smart to be rich.


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Reply 15 - Posted by: lazlototh, 12/1/2013 3:09:42 AM     (No. 9635402)

I can´t remember how long Henry Blodget was banned from being in the securities industry - was it life, or something shorter? - for his misbehavior. Of course if he thinks everyone else is like him he things entrepreneurs don´t create jobs. But all you have to do is look at the Fortune 500 and see how many of the companies on the list didn´t exist or were tiny 35-40 years ago to see how many jobs new business that made their founders wealthy create - and how few companies like that there are in highly-taxed, low-entrepreneur societies.

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Reply 16 - Posted by: Country Boy, 12/1/2013 3:16:32 AM     (No. 9635404)

This guy is a total moron, typical of obama´s commie claque.

Jobs come from innovation, not "the economy". The difference between now and 113 years ago when most people never rode their horse more than 4 miles from home, never saw a telephone, TV, radio, polio vaccine, etc is INNOVATION. And innovation isn´t free. You have to let people keep some of the money from innovation for the stuff to happen.

Socialists are so mezmerized with stealing other people´s money they can see the obvious.

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Reply 17 - Posted by: littleorby, 12/1/2013 3:58:18 AM     (No. 9635409)

While reading this article, I´m reminded of the Aesop fable: The Seven Blind Men and the Elephant; in short, there are many facets to the creation of jobs.

But ALWAYS, it takes money to make money. The money may come from banks or investments firms which lends the money of many small investors or from a rich patron or from an established manufacturer that buys or licenses an inventors´ patent (as a few examples), but ALWAYS, it takes money to make money.

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Reply 18 - Posted by: Michaelus, 12/1/2013 6:26:15 AM     (No. 9635455)

Well I am sorry to all you billionaires but I think they guys right. For some reason the growth of the very-very rich has increased in lock steep with the increase in the size of Government and the amount of regulations on us all - and at the same time the wealth of the middle class has decreased and unemployment is very high. This trend is not going to change - and when the next financial crisis hits the Government will bail out the rich men again…..

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Reply 19 - Posted by: StormCnter, 12/1/2013 6:31:15 AM     (No. 9635458)

Wasn´t it Phil Gramm who said he had never worked for a poor man, because poor men don´t create a business.

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Reply 20 - Posted by: Charactercounts, 12/1/2013 8:06:00 AM     (No. 9635549)

Yeah, and You didn´t build that.

Remember when the government taxed expensive boats? All of a sudden, lots of people involved in the building, selling and care of boats lost their jobs. They were middle class, making money from the spending habits of the wealthy.

There´s an old proverb that says "Luxury feeds more mouths than charity."

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Reply 21 - Posted by: faith_and_reason, 12/1/2013 9:32:12 AM     (No. 9635663)

My hopes for a good article were raised by the title. In a very important sense, the wealthy, the entrepreneur and the government do not "create" jobs. The employee does!

The producer, whether by discovery, by harvesting, or by contributing an indispensable component of labor, whether low-skilled or high-skilled, is the *one* primarily to be credited with the existence and viability of his own job.

The Law of Markets, commonly known as Say´s Law, shows that the product itself (whether in goods or services) is the measure of "wealth," and that wealth offered in exchange is the *entire* source of economic demand.

Please note well, contrary to the common misunderstanding of Say´s Law, the demand produced by the specified wealth is not for any *other* kind of wealth. I.e., the supply of apples does *not* "create demand for apples," but instead creates demand for everything *except* apples.

Government protections of the property rights of producers (the "makers") can *facilitate* productivity, just as the managerial contributions of investors and entrepreneurs can facilitate productivity. And each of these facilitative contributors has "earned" a share of the wealth.

But governments do not *increase* the number of profitable arrangements. Ever. Their stifling regulations and wage/price controls outlaw arrangements that free citizens would have preferred to use. And wealth is therefore decreased.

Okay, I´m not a great writer. But at least I wrote the article that Henry Blodget *should* have written.

If anyone read this far, I thank you for your patience!

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Reply 22 - Posted by: simple simon, 12/1/2013 9:58:42 AM     (No. 9635692)

Well I don´t know about all you multi-millionaire job creators but from my own POV, I´ve employed a handful of people through several ventures over the years and I can tell you I wasn´t rich - actually quite poor GRINDING it out for the next sale, next contract to pay my employees a decent wage while foregoing the mansions and yachts for myself.

Yes, rich people sometimes may contract my company for goods and services (trickle down you call it?) but most of the money that comes in to my company to help pay my workers is usually from other small businesses also struggling to pay their employees a decent wage.

If anything, the rich benefit/get rich from the working class and guys like me not vice-versa. Poster #18 gets it.

I assume there are tens of thousands of small business owners just like me who are NOT rich but creating plenty of jobs.

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Reply 23 - Posted by: kafir091101, 12/1/2013 10:26:59 AM     (No. 9635726)

I’ve seen too many articles like this from “Business Insider”, which BTW is at the opposite end of the political yard stick from “Investor´s Business Daily”.

After reading the posts this morning, I don’t have to read this article to know the message being pushed.

This, as are so many other articles like it, are ‘plants’ intended to give fodder to other political whores when they appear on national TV, radio talk shows (NPR) and can also quote in their own perversed ‘expertly opinionated’ articles and during university speeches.

They are pulling the wool over the eyes of the sheeple who read their crap but not the 50% of Americans that aren’t sheeple.

They will learn the error of their ways 11 months from now!

Kafir


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Reply 24 - Posted by: Italiano, 12/1/2013 10:36:59 AM     (No. 9635737)

#23 is correct. Those who get their regular news and political commentary from MSNBC will appreciate the "business" acumen they will get from Business Insider.

And achieve the same degree of credibility in the Real World.

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Reply 25 - Posted by: AltaD, 12/1/2013 11:11:48 AM     (No. 9635783)

Henry Blodget was permanently barred from the securities industry for fraud and other violations. Which makes him a liar and a leftist, a common combo these days.

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Reply 26 - Posted by: faith_and_reason, 12/1/2013 12:05:35 PM     (No. 9635833)

Sorry. At #21 I edited in too much haste: "...specified wealth is not for..." should be "...specified wealth is for..."


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Reply 27 - Posted by: ROLFnader, 12/1/2013 12:29:32 PM     (No. 9635871)

Sorry, I don´t visit porn sites or those that sound like them.

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Quality Of Life Than Meat-Eaters

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CBS Local (Atlanta, GA), by Staff    Original Article
Posted By: Maryland_Patriot- 4/2/2014 10:12:06 AM     Post Reply
Atlanta – Vegetarians may have a lower BMI and drink alcohol sparingly, but vegetarian diets are tied to generally poorer health, poorer quality of life and a higher need for health care than their meat-eating counterparts. A new study from the Medical University of Graz in Austria finds that vegetarians are more physically active, drink less alcohol and smoke less tobacco than those who consume meat in their diets. Vegetarians also have a higher socioeconomic status and a lower body mass index. But the vegetarian diet — characterized by a low consumption of saturated fats and cholesterol that includes increased intake

Harry Reid Now Spreading Baseless Claim
that Koch Brothers Don´t Pay Corporate Taxes

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Weekly Standard, by John McCormack    Original Article
Posted By: MissMolly- 4/2/2014 2:53:59 PM     Post Reply
Senate majority leader Harry Reid has a whole page on his official Senate.gov website devoted to revealing "THE FACTS ABOUT THE KOCH BROTHERS." One of the alleged facts promoted on Reid´s website is that the Kochs do not pay any corporate taxes: “They are known for bankrolling conservative, Libertarian and Tea Party causes and became poster boys for corporate tax reform last year when an Obama Administration official suggested Koch is organized as an S Corp. and so pays no corporate level taxes.” The claim that the Koch brothers don´t pay corporate income taxes was first made by former White House official

Obama calls GOP budget plan
a ‘stinkburger’

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Washington Post, by David Nakamura    Original Article
Posted By: mitzi- 4/2/2014 5:30:08 PM     Post Reply
ANN ARBOR, Mich. – President Obama compared the Republican budget plan to a "stinkburger" or "meanwich" during a speech here Wednesday, using a series of zingers in an attempt to strike a contrast with the GOP on economic issues in an election year. In a speech to an enthusiastic crowd of 1,400 at the University of Michigan, Obama repeatedly mocked Republican ideas about how to improve the economy, as he touted his own proposal to raise the minimum wage. Obama, who visited the local Zingerman´s deli before the speech, said that Republican proposals to cut taxes for wealthier Americans and


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