Rich people dont create jobs.

PiggyBank · May 21, 2012

Quote from Ricter:

Maybe your "soon to be wealthy" people are poor now, therefore, yes, poor people can create jobs.

Anyway, you're right about it takes money to make money. If my customers are broke, I can't make sales.

C'mon bro.. now u are being irrational. I didn't say that a person who is poor now could not or will never create a job.. but they won't be poor when it happens. You can't risk what you don't have.

The thread is titled 'Rich people don't create jobs.' That is bullshit.. they ARE the job creators, the innovators, the inventors, the engine of our economy. Economically liberal authoritarians - like obummer and fuckhead krugman - ARE the problem. Maybe your sales would increase if taxes were lower and people had more of their hard-earned money to spend on things that they want.. instead of having it taken by force and blown on idiocy like solyndra.

OccupyThis · May 21, 2012

Quote from PiggyBank:

C'mon bro.. now u are being irrational. I didn't say that a person who is poor now could not or will never create a job.. but they won't be poor when it happens. You can't risk what you don't have.

The thread is titled 'Rich people don't create jobs.' That is bullshit.. they ARE the job creators, the innovators, the inventors, the engine of our economy. Economically liberal authoritarians - like obummer and fuckhead krugman - ARE the problem. Maybe your sales would increase if taxes were lower and people had more of their hard-earned money to spend on things that they want.. instead of having it taken by force and blown on idiocy like solyndra.

Here it is:

9. How are small businesses financed?
Small businesses rely heavily upon owner investment and bank credit, averaging about $80,000 a year for young firms. Startups rely about equally on ownersâ cash injections into the business and bank credit; young firms receive about three-quarters of their funds from banks via loans, credit cards, and lines of credit. One-tenth of startups and about a third of young firms do not use capital injections.

jem · May 21, 2012

Quote from OccupyThis:

Here it is:

9. How are small businesses financed?
Small businesses rely heavily upon owner investment and bank credit, averaging about $80,000 a year for young firms. Startups rely about equally on ownersâ cash injections into the business and bank credit; young firms receive about three-quarters of their funds from banks via loans, credit cards, and lines of credit. One-tenth of startups and about a third of young firms do not use capital injections.

there are almost no bank loans for startups unless your have political pull. your own money, friends, family, investors or credit cards.

PiggyBank · May 21, 2012

Quote from jem:

there are almost no bank loans for startups unless your have political pull. your own money, friends, family, investors or credit cards.

Aside from the political pull, isn't this the way it should be. If, at the very least, you are not willing to invest in yourself, why should anyone else? If the costs of doing business are lower then more people can at least try and make it on their own.. we are going in the wrong direction. I would assume that there are many, many people with worthwhile ideas that can never raise enough money to transition into reality, and as the govt drives up costs through regulation and taxation it becomes even less likely.

There shouldn't even be an sba imo.. the banks will find all the worthwhile ideas, and the sba will pick up the rest. Plus I'm guessing that there is some special interest garbage that they are forced to fund.

Ricter · May 21, 2012

Quote from PiggyBank:

Maybe your sales would increase if taxes were lower and people had more of their hard-earned money to spend on things that they want.. instead of having it taken by force and blown on idiocy like solyndra.

Hmm, do you really think we can lower taxes to where they used to be, back when America was at her greatest?

jem · May 21, 2012

Quote from PiggyBank:

Aside from the political pull, isn't this the way it should be. If, at the very least, you are not willing to invest in yourself, why should anyone else? If the costs of doing business are lower then more people can at least try and make it on their own.. we are going in the wrong direction. I would assume that there are many, many people with worthwhile ideas that can never raise enough money to transition into reality, and as the govt drives up costs through regulation and taxation it becomes even less likely.

There shouldn't even be an sba imo.. the banks will find all the worthwhile ideas, and the sba will pick up the rest. Plus I'm guessing that there is some special interest garbage that they are forced to fund.

of course... I just got annoyed by another govt organization acting like they are helping out startups. With sentences like x% of startups begin with entrepreneurs money and banks loans. When it should be more clearly stated that 79.999 percent begin with entrepreneurs own money and credit cards... and .0001% with loans from a bank.

Now I am guessing at the exact numbers... but I speak with business owners all the time... and the only sba startup loan I have ever heard anyone getting was....

an SBA loan to a women my friend dated. She was a minority women arms dealer and had a lot of connections. I am pretty sure SBA loans requires political pull.

piezoe · May 21, 2012

Quote from RCG Trader:

Don't you think the die has not already been cast? We are a warlike nation, ugly does well because as long as there is ass to kick, we, as a nation are happy.

Yes, it is cast. Sorry to say, the nation will never ask the question I raised.

Lucrum · May 21, 2012

Quote from Ricter:

Hmm, do you really think we can lower taxes to where they used to be, back when America was at her greatest?

Sounds like it's worth a try to me.

PHOENIX TRADING · May 21, 2012

Quote from Brass:

Since tax rates are lower than they have been in decades, it follows that most of today's billionaires and other rich guys in America somehow managed to create and accumulate their weath under higher tax rates. Meanwhile, today's soon-to-have "rugged individualists" are a bunch of spoiled crybabies by comparison, who are implicitly confessing that they can't play by those same standards. A bunch of special-needs wannabe "players."

Not so fast there bozo, your argument rings hollow to those who are not ignorant like you.

#1) The current (or past for that matter) marginal tax rates have ZERO effect on the super-rich of warren b's generation or Zuckerberg.

#2) The sad fact is that the burden higher marginal rates will fall almost exclusively on high income earning professionals and seasoned middleclass earners in their peak earning years not the trust fund babies you envision.

#3) You seem quite ignorant of US tax history(I suppose that you being a know nut-thing canadian plays a role).
Why you bother to pontificate here is beyond rational.
The high marginal income tax rates you worship were before the AMT and when tax deductions were much more available (to the middleclass and above) for example all debt (including credit cards) were deductible not just special mortgage debt.
So in essence the marginal tax rate was 90% at one time, the environment in which it was applied was completely different than the one today.

I'd be willing to wager even you are not stupid enough to actually have earnings that would place your next dollar at the 90% tax rate.

futurecurrents · May 21, 2012

These small business start-ups are not started by rich people. They're started by middle-income people, often using less than six figures to do so. The tax rates on the top 1% are never even the most remote consideration in their endeavor.

Do I have proof of this? No.