TED won't show that ultra-rich are not job creators

[Enki]

http://www.businessinsider.com/nick-han ... ors-2012-5

[Parodite]

Interesting. The last paragraph of the transcript of the speech:

In a capitalist economy, the true job creators are consumers, the middle class. And taxing the rich to make investments that grow the middle class, is the single smartest thing we can do for the middle class, the poor and the rich.

Translate this to Greece: don't bail out banks (rather put their managers and political henchmen on trial for gambling away money), but "bail out" Greek consumers! With that money they can stimulate Greek businesses and recover the middle class there. Unchained from the Killer-Euro and in a Drachme that can gear up and down if necessary (devaluate) freely. The Drachme will start cheap representing the present depressed reality there. So how much more 5 billion Euros can do converted to cheap Drachme in Greek banks owned by consumers! It will result in more export, the thing Endo mentioned as needed.

Me thinks..

Caveat: given their dysfunctional corrupted political culture, the only precondition for such a consumer bail-out (bail-out as a free gift I mean) would have to be, and only fair, political reforms, getting the system cleaned up and rebooted.

[YMix]

Another prerequisite would be to keep the distribution of funds out of the hands of Greek politicians.

[Parodite]

Another prerequisite would be to keep the distribution of funds out of the hands of Greek politicians.

Indeed.. to be on the safe side

[AzariLoveIran]

.

Rich not same as entrepreneur

Entrepreneurs create jobs and not Rich people

What does it mean RICH ? ?

Rich means having a lot of asset, money and and

in that sense, a rich individual is in reality an "asset manager"

Asset mangers (Rich individual or fund managers that manage money) + entrepreneurs (people who have the idea, the team, the track record, the know how and credential to make things happen) = Job creation

In real life

entrepreneurs succeed, become rich

when they die, their money passes to next generation

and

those next generation, are, 90% of the time, bums

so

the next generation spent that money, wealth not on creating wealth, but consumption, Yachts, private jets

Trick is not taxing the rich .. I would eliminate taxes entrepreneurs

but

tax to maximum the inheritance

say, each offspring get xxx amount tax free .. the rest will be taxed 85%


.

[Parodite]

Aside...who funds TED...some ulra-rich non-job creator? Pretty amazing they didn't broadcast it.