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

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

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. A 2009 Kauffman Foundation study found that the great majority of entrepreneurs come from middle-class backgrounds, with less than 1 percent of all entrepreneurs coming from very rich or very poor backgrounds. flickr image by withayou 2. 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.

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. “[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 “I believe that banking institutions are more dangerous to our liberties than standing armies…The issuing power should be taken from the banks and restored to the Government, to whom it properly belongs.” - Thomas Jefferson (for more on the Currency Act, see this.) No. Specifically:

MILLIONAIRE'S ISLAND: A Simple Example Of Why 'Rich People' Don't Create Jobs wikipedia commons An unspoiled wilderness with no poor people. Paradise! As everyone in this country keeps blaming everyone else for our high unemployment rate, one assertion gets repeated so often that it is now regarded as fact: Rich people create jobs. Specifically, the argument goes, entrepreneurs and investors create jobs. So if we want to create more jobs, the argument continues, we need to cut taxes on entrepreneurs and investors--to increase their incentive to create jobs. Now, I'm an entrepreneur, and Business Insider employs about 75 people, up from zero four years ago. Unfortunately, as I explained in detail here, this assertion is wrong: Entrepreneurs and investors actually don't create jobs, at least not by themselves. Without our generous readers and sponsors and dedicated team, all the jobs I "created" at BI would immediately cease to exist (including mine). To illustrate this, let's run through a simple example. Let's allow the 1% to take their savings with them. wikipedia

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). 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. In the duration of five months, the main bank of Iceland was nationalized, government officials were forced to resign, the old government was liquidated, and a new government was put in its place. In February 2011, a new constitutional assembly settled in to rewrite the tiny nation’s constitution, which aimed to avoid entrapment by debt-based currency foreign loans. Sources :

Banking History Timeline - Follow the Money Elite banking families – including the Rockefellers, Rothschilds, and Morgans – have gained control of the global economy through the central banking system. They set up the Federal Reserve in the US in 1913 and have been manipulating the market to benefit themselves ever since. This timeline shows the pattern of American Presidents being assassinated after challenging central bankers and their monopoly on money, and the Federal Reserve’s artificial creation of booms and busts that causes people to lose their jobs, homes, and retirements, while the bankers further consolidate wealth and control. 1694 – Bank of England Established First Central Bank established in the UK. 1744- Mayer Amschel Rothschild, Founder of the Rothschild Banking Empire, is Born in Frankfurt, Germany Mayer Amschel Rothschild extended his banking empire across Europe by carefully placing his five sons in key positions. 1757- Colonial Scrip Issued in US Debt free, fiat currency was printed in the public interest. J.P.

Raise Taxes on Rich to Reward True Job Creators: Nick Hanauer Dec. 1 (Bloomberg) -- It is a tenet of American economic beliefs, and an article of faith for Republicans that is seldom contested by Democrats: If taxes are raised on the rich, job creation will stop. Trouble is, sometimes the things that we know to be true are dead wrong. For the larger part of human history, for example, people were sure that the sun circles the Earth and that we are at the center of the universe. It doesn’t, and we aren’t. I’m a very rich person. Even so, I’ve never been a “job creator.” That’s why I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. Theory of Evolution When businesspeople take credit for creating jobs, it is like squirrels taking credit for creating evolution. It is unquestionably true that without entrepreneurs and investors, you can’t have a dynamic and growing capitalist economy. That’s why our current policies are so upside down. And that’s what has been happening in the U.S. for the last 30 years.

«Les politiques n’ont pas compris l’essentiel» André Orléan est directeur de recherche au CNRS, directeur d’études à l’EHESS, président de l’Association française d’économie politique (Afep). Il est l’un des initiateurs du mouvement des Economistes atterrés. Les responsables politiques ont-ils pris la mesure de la crise ? Seulement en paroles. Quel est le trait distinctif de ce capitalisme ? Il s’en remet aux évaluations financières, devenues l’élément déterminant de la gouvernance de l’économie. Les mouvements des marchés financiers sont-ils dangereux pour l’économie réelle ? Il faut souligner la myopie des marchés financiers. Ce jugement vaut pour la crise des dettes publiques ? On y retrouve les mêmes erreurs d’évaluation. Ce qui aurait dû conduire à des taux différents ? Oui. Observe-t-on une fois de plus une démesure de la logique financière, de sa dimension systémique ? En effet. Et l’action gouvernementale ? Aujourd’hui, la défiance se nourrit de l’impuissance des autorités politiques de la zone euro. Oui. Vittorio DE FILIPPIS