Quote:
Originally Posted by ISiddiqui
Exactly. To claim the rich just get their money by themselves is dreadfully naive. They rely on others in order to gain their wealth in the first place.
Without the middle class or poor there is no rich. You won't see the rich out in the fields, getting all the crop with their own bare hands.
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Ahhh... OK I see a disconnect between what you guys are saying and what I am saying...
OK, you have a guy that figured out how to make a better...cotton gin. He pays the going rate for the cotton to the farmer, and processes the cotton. But, since he is more efficient than they next gin manager, he earns an extra $2 per bale of cotton. He gets rich because that $2 he saves per bale goes straight to his bottom line.
Now, he gins 10,000 bales per year. The manager down the street does the same and earns $5 for each bale. This guy earns $8 per bale. They each have household expenses that run $40,000 a year. So the guy that earns $8 per bale over time has more disposeable income. They both spend $10,000 on pleasure over the course of a year. The guy that earns $8 a bale can now either use that money to improve his company (paying for new equipment, more workers, building expansion, etc.) or he can spend it on something else (vacation, car, etc.). In either case, the one that earns $ per bale has a larger effect on the economy than the guy earning $5. Not only that, but he has almost twice (probably more considering the velocity of money) the impact on the economy.
I guess my point is that at one time, someone made their money creating something new. That is how they earned their money. That, or they just worked harder than the next guy. In any case, most wealth can be traced to someone that was just a guy in a factory somewhere.