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Finally, A Rich American Destroys The Fiction That Rich People Create The Jobs

Finally, A Rich American Destroys The Fiction That Rich People Create The Jobs
60 Minutes America's real job-creators...who can't afford to create any jobs. In the war of rhetoric that has developed in Washington as both sides blame each other for our economic mess, one argument has been repeated so often that many people now regard it as fact: Rich people create the jobs. Specifically, entrepreneurs and investors, when incented by low taxes, build companies and create millions of jobs. And these entrepreneurs and investors, therefore, the argument goes, can solve our nation's huge unemployment problem — if only we cut taxes and regulations so they can be incented to build more companies and create more jobs. In other words, by even considering raising taxes on "the 1%," we are considering destroying the very mechanism that makes our economy the strongest and biggest in the world: The incentive for entrepreneurs nd investors to build companies in the hope of getting rich and, in the process, creating millions of jobs. She'd like to create jobs. And Hanauer explains why. Related:  SystèmeEconomics

Gingrich Puts a Price on His Family Values : He sheltered his $4-million book bonanza from his struggling, non-trophy ex-wife. The news that Newt Gingrich will receive $4 million from Rupert Murdoch's publishing house must have been greeted with dismay by his former wife, Jacqueline, down in Carroll County, Ga. Newt had pulled a fast one. It was only nine months ago that she consented to the congressman's request for an amendment to their divorce decree that bars her from claiming additional funds due to an increase in his earnings. Not to be too harsh on Newt, it must be terribly difficult balancing pro-family values with a commitment to a Darwinian survival of the fittest in the marketplace. Newt the congressman-author is a winner in life's sweepstakes, Jacqueline the schoolteacher-mother is a loser, and that must be the way God and/or Adam Smith intended it. She had free will. But did he have to be so mean about it? The man has chutzpah. And he did, until he filed for divorce 16 months later. Picky, picky. That got the congressman's attention. Well, Newt now has a chance to make amends.

La semaine de quatre jours, solution à la crise ? - Temps de travail Source Basta ! : Quel bilan tirez-vous des lois Aubry sur les 35 heures ? Pierre Larrouturou : Selon l’Insee, elles ont permis de créer entre 300 000 et 350 000 emplois à temps plein. Quelle est la réalité du temps de travail aujourd’hui en France ? Après les assouplissements successifs mis en œuvre par les gouvernements de droite et les subventions aux heures supplémentaires, on est revenu à 38 heures en moyenne pour les salariés à temps plein, ce qui se situe dans la moyenne européenne. Peut-on parler de réduction du temps de travail en pleine crise de la dette publique ? La France a connu 1,2 million de chômeurs supplémentaires durant la crise financière. Selon vous, la réduction du temps de travail est d’abord une réponse aux gains de productivité depuis les années 1970… Mais comment financer une nouvelle réduction du temps de travail ? C’est un faux problème car la création d’emplois finance par elle-même la mesure. Oui. Cela existe déjà. Propos recueillis par Julien Bonnet

Ten Numbers the Rich Would Like Fudged The numbers reveal the deadening effects of inequality in our country, and confirm that tax avoidance, rather than a lack of middle-class initiative, is the cause. 1. Only THREE PERCENT of the very rich are entrepreneurs. According to both Marketwatch and economist Edward Wolff, over 90 percent of the assets owned by millionaires are held in a combination of low-risk investments (bonds and cash), personal business accounts, the stock market, and real estate. Only 3.6 percent of taxpayers in the top .1% were classified as entrepreneurs based on 2004 tax returns. flickr image by withayou 2. In a world listing compiled by a reputable research team (which nevertheless prompted double-checking), the U.S. has greater wealth inequality than every measured country in the world except for Namibia, Zimbabwe, Denmark, and Switzerland. 3. The Tax Justice Network estimated that between $21 and $32 trillion is hidden offshore, untaxed. 4. 5. 6. Another stat that required a double-check.

10 Lesser Known Economic Issues Politics While not an economist in the traditional sense, I am very interested in the study of economics. While not everyone shares this level of interest, I believe people should have an understanding of economics as the field is so important to understanding the world that we live in. Though this list contains ideas that are controversial, it is not intended to promote anger or controversy. Rather, these entries were chosen to shed some light on lesser known, yet important economic issues facing our world, and give readers something to ponder. Also known as the Diamond-Water Paradox, the paradox of value is the contradiction that while water is more useful, in terms of survival, than diamonds, diamonds get a higher market price. This paradox can possibly be explained by the Subjective Theory of Value, which says that worth is based on the wants and needs of a society, as opposed to value being inherent to an object. Khazzoom–Brookes Postulate Economics has many categories for “goods”.

Stunning Facts About How the Banking System Really Works … And How It Is Destroying America Reclaiming the Founding Fathers’ Vision of Prosperity To understand the core problem in America today, we have to look back to the very founding of our country. The Founding Fathers fought for liberty and justice. But they also fought for a sound economy and freedom from the tyranny of big banks: “[It was] the poverty caused by the bad influence of the English bankers on the Parliament which has caused in the colonies hatred of the English and . . . the Revolutionary War.” - Benjamin Franklin “There are two ways to conquer and enslave a nation. “All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.” - John Adams “The Founding Fathers of this great land had no difficulty whatsoever understanding the agenda of bankers, and they frequently referred to them and their kind as, quote, ‘friends of paper money. No.

Waiting to die: Cervical cancer in America New York, NY - Cervical cancer is a hotly-debated political topic in the United States right now - a debate fuelled largely by Republican presidential contenders. The cancer is caused by strains of the human papillomavirus (HPV), which is sexually transmitted. As a result, discourse on cervical cancer centres around whether or not newly available vaccines to prevent the disease encourage promiscuity. This argument entirely misses the most scandalous fact about cervical cancer in the US: its geography. Cervical cancer is extraordinarily slow-growing, taking 10-15 years for invasive cells to develop. But every year 4,000 American women die from the disease, most of them in the South. Why? The seemingly obvious answer is that Mississippi is the poorest state in the US, and therefore must have a lot of residents without health insurance. Again, why? Safety net The answer lies in where uninsured residents obtain their health care. "Yes, ma'am," was the answer - over and over again.

World debt comparison: The global debt clock Iceland’s Hörður Torfason – How to Beat the Banksters Alex Peitrowski, ContributorActivist Post The tiny Nordic European island country of Iceland is presently experiencing one of the greatest economic comebacks of all time. After the privatization of the banking sector completed in 2000, the economy was thrown into a tailspin when over a five-year period, private bankers borrowed 120 billion dollars (10 times the size of Iceland’s economy). A huge economic bubble was created, causing house prices to double, and making a small percentage of Iceland’s population rich enough to buy up overseas investments, mansions, yachts, and private jets, while leaving an absolutely unpayable debt for all Icelanders. Iceland was facing national bankruptcy. In response to the failed banking system, in October 2008, Iceland’s revolution against this financial tyranny began, rather casually in the street, in front of the Icelandic general assembly. This video clip from the film Inside Job gives some background on what caused the financial crisis in Iceland.

Of the 1%, by the 1%, for the 1% | Society It’s no use pretending that what has obviously happened has not in fact happened. The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year. In terms of wealth rather than income, the top 1 percent control 40 percent. Their lot in life has improved considerably. Twenty-five years ago, the corresponding figures were 12 percent and 33 percent. One response might be to celebrate the ingenuity and drive that brought good fortune to these people, and to contend that a rising tide lifts all boats. Economists long ago tried to justify the vast inequalities that seemed so troubling in the mid-19th century—inequalities that are but a pale shadow of what we are seeing in America today. Some people look at income inequality and shrug their shoulders. First, growing inequality is the flip side of something else: shrinking opportunity. None of this should come as a surprise—it is simply what happens when a society’s wealth distribution becomes lopsided.

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