The rich don’t create jobs – we do!

[dtotire]

Published: Tuesday, May 31, 2011, 10:20 PM Updated: Tuesday, May 31, 2011, 10:22 PM

By TINA DUPUY

The rich don’t create jobs. The bottom 80 percent of Americans have 15 percent of the net worth, and the top 1 percent has 35 percent of the net worth in what is still the richest country on earth. So, when I say “rich” – I mean really really rich. “The rich create jobs” is a well-worn catch phrase from right-leaning political yappers who give this 1 percent all the credit when it comes to the financial health of the country. But the rich are not, in fact, the venerated “job creators.”

What creates jobs? Demand. You and me and all the other unwashed masses demanding a product or service forces businesses to hire more people. It’s not “the rich” out of the goodness of their hearts hiring poor slobs to help them out. It’s a simple Econ 101 staple: Supply and demand.

Demand is a good old democratic/egalitarian tenet of the power of the consumer.

Supply is the purview of businesses and the acclaimed entrepreneurs.

We want – they deliver. Basic economics. Basis of civilization.


more:
http://www.nj.com/hudson/voices/index.ssf/2011/05/the_rich_dont_create_jobs_we_d.html

[The Magistrate]

1. Indeed, Ma'am: As Someone Here said Recently....

"Saying the rich create jobs is like saying ticks create blood."

[The Unawriter]

2. Highly recommended

:thumbsup::thumbsup:

[avaistheone1]

3. K&R