Bless our billionaires — the wealth they create makes us ALL richer

Truth Detector

Truth Detector

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Truer words have never been written.

The problem with leftist/Socialist beliefs is that they think the economy is a "zero-sum" game. In other words, of someone has a lot, someone else must therefore have less. Nothing can be further from the truth. In fact, when a Bill Gates or a Steven Jobs or an Elon Musk succeeded in making our lives better and more productive, they created a lot of wealth and millionaires along the way. Socialism does the opposite. It makes everyone poorer except for the elite running the nation.

Socialists are the dumbest and most dishonest people on the planet.

Bless our billionaires — the wealth they create makes us ALL richer​

People criticize capitalism.

As a recent Axios-Generation poll found, “College students prefer socialism to capitalism.”

Why?

Because they believe absurd myths: Like the claim that the Soviet Union “wasn’t real socialism.”

Socialism guru Noam Chomsky tells students that.

He says the Soviet Union “was about as remote from socialism as you could imagine.”

Give me a break.

The Soviets made private business illegal.

If that’s not socialism, I’m not sure what is.

“Socialism means abolishing private property and . . . replacing it with some form of collective ownership,” explains economist Ben Powell.

“The Soviet Union had an abundance of that.”

Socialism always fails.

Look at Venezuela, the richest country in Latin America about 40 years ago.

Now people there face food shortages, poverty, misery and election outcomes the regime ignores.

But Al Jazeera claims Venezuela’s failure has “little to do with socialism, and a lot to do with poor governance . . . economic policies have failed to adjust to reality.”

“That’s the nature of socialism!” exclaims Powell.

“Economic policies fail to adjust to reality.”

“Economic reality evolves every day. Millions of decentralized entrepreneurs and consumers make fine-tuning adjustments.”

Political leaders can’t keep up with that.

Still, pundits and politicians tell people, socialism does work — in Scandinavia.

Jim Cramer of “Mad Money” calls Norway “as socialist as they come!”

This too is nonsense.

“Sweden isn’t socialist,” says Powell.

“Volvo is a private company. Restaurants, hotels, they’re privately owned.”

Norway, Denmark and Sweden are all free-market economies.

Denmark’s former prime minister was so annoyed with economically ignorant Americans like Bernie Sanders calling Scandinavia “socialist,” he came to America to tell Harvard students that his country “is far from a socialist planned economy. Denmark is a market economy.”

nypost.com

Bless our billionaires — the wealth they create makes us ALL richer

An Axios-Generation poll found, “College students prefer socialism to capitalism.”
nypost.com nypost.com
 
Powell says young people “hear the preaching of socialism, about equality, but they don’t look on what it actually delivers: poverty, starvation, early death.”

For thousands of years, the world had almost no wealth creation.

Then, some countries tried capitalism.

That changed everything.

“In the last 20 years, we’ve seen more humans escape extreme poverty than any other time in human history, and that’s because of markets,” says Powell.

Capitalism makes poor people richer.

Former Rep. Jamaal Bowman (D-NY) calls capitalism “slavery by another name.”

Rep. Alexandria Ocasio-Cortez (D-NY) claims, “No one ever makes a billion dollars. You take a billion dollars.”

That’s another myth.

People think there’s a fixed amount of money.

So when someone gets rich, others lose.

But it’s not true: In a free market, the only way entrepreneurs can get rich is by creating new wealth.

Yes, Steve Jobs pocketed billions, but by creating Apple, he gave the rest of us even more.

He invented technology that makes all of us better off.

“I hope that we get 100 new super-billionaires,” says economist Dan Mitchell, “because that means 100 new people figured out ways to make the rest of our lives better off.”

Former Labor Secretary Robert Reich advocates the opposite: “Let’s abolish billionaires,” he says.

He misses the most important fact about capitalism: It’s voluntary.

“I’m not giving Jeff Bezos any money unless he’s selling me something that I value more than that money,” says Mitchell.
 
Former Labor Secretary Robert Reich advocates the opposite: “Let’s abolish billionaires,” he says.

He misses the most important fact about capitalism: It’s voluntary.

“I’m not giving Jeff Bezos any money unless he’s selling me something that I value more than that money,” says Mitchell.\

It’s why under capitalism, the poor and middle class get richer, too.

“The economic pie grows,” says Mitchell.

“We are much richer than our grandparents.”

When the media say the “middle class is in decline,” they’re technically right — but they don’t understand why it’s shrinking.

“It’s shrinking because more and more people are moving into upper income quintiles,” says Mitchell.

“The rich get richer in a capitalist society. But guess what? The rest of us get richer as well.”
 
Jade Dragon said:
Yeah, if only they paid the same taxes everyone else does. :rolleyes:
Click to expand...
They pay the lions share you clueless brainless moron.

image
 
Truth Detector said:
Truer words have never been written.

The problem with leftist/Socialist beliefs is that they think the economy is a "zero-sum" game. In other words, of someone has a lot, someone else must therefore have less. Nothing can be further from the truth. In fact, when a Bill Gates or a Steven Jobs or an Elon Musk succeeded in making our lives better and more productive, they created a lot of wealth and millionaires along the way. Socialism does the opposite. It makes everyone poorer except for the elite running the nation.

Socialists are the dumbest and most dishonest people on the planet.

Bless our billionaires — the wealth they create makes us ALL richer​

People criticize capitalism.

As a recent Axios-Generation poll found, “College students prefer socialism to capitalism.”

Why?

Because they believe absurd myths: Like the claim that the Soviet Union “wasn’t real socialism.”

Socialism guru Noam Chomsky tells students that.

He says the Soviet Union “was about as remote from socialism as you could imagine.”

Give me a break.

The Soviets made private business illegal.

If that’s not socialism, I’m not sure what is.

“Socialism means abolishing private property and . . . replacing it with some form of collective ownership,” explains economist Ben Powell.

“The Soviet Union had an abundance of that.”

Socialism always fails.

Look at Venezuela, the richest country in Latin America about 40 years ago.

Now people there face food shortages, poverty, misery and election outcomes the regime ignores.

But Al Jazeera claims Venezuela’s failure has “little to do with socialism, and a lot to do with poor governance . . . economic policies have failed to adjust to reality.”

“That’s the nature of socialism!” exclaims Powell.

“Economic policies fail to adjust to reality.”

“Economic reality evolves every day. Millions of decentralized entrepreneurs and consumers make fine-tuning adjustments.”

Political leaders can’t keep up with that.

Still, pundits and politicians tell people, socialism does work — in Scandinavia.

Jim Cramer of “Mad Money” calls Norway “as socialist as they come!”

This too is nonsense.

“Sweden isn’t socialist,” says Powell.

“Volvo is a private company. Restaurants, hotels, they’re privately owned.”

Norway, Denmark and Sweden are all free-market economies.

Denmark’s former prime minister was so annoyed with economically ignorant Americans like Bernie Sanders calling Scandinavia “socialist,” he came to America to tell Harvard students that his country “is far from a socialist planned economy. Denmark is a market economy.”

nypost.com

Bless our billionaires — the wealth they create makes us ALL richer

An Axios-Generation poll found, “College students prefer socialism to capitalism.”
nypost.com nypost.com
Click to expand...
Billionaire should not exist. We would all be better off if they didn't.
 
Truth Detector said:
Really? How so? The data suggests that they pay the lion's share of the freebies leftist freeloaders like you get halfwit. :palm:
Click to expand...
Troubled Asset Relief Program (TARP) cost working and middle class taxpayers $17 trillion to bailout Wall Street while foreclosing on 10 million American families.
 
goat said:
Troubled Asset Relief Program (TARP) cost working and middle class taxpayers $17 trillion to bailout Wall Street while foreclosing on 10 million American families.
Click to expand...

So, you thought all our banks should just fail and tank the economy hurting nearly every American in America? That's seems very stupid.

Treasury established several programs under TARP to help stabilize the U.S. financial system, restart economic growth, and prevent avoidable foreclosures.

Although Congress initially authorized $700 billion for TARP in October 2008, that authority was reduced to $475 billion by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Of that, the following amounts were committed through TARP's five program areas:

  • Approximately $250 billion was committed in programs to stabilize banking institutions ($5 billion of which was ultimately cancelled).
  • Approximately $27 billion was committed through programs to restart credit markets.
  • Approximately $82 billion was committed to stabilize the U.S. auto industry ($2 billion of which was ultimately cancelled).
  • Approximately $70 billion was committed to stabilize American International Group (AIG) ($2 billion of which was ultimately cancelled).
  • Approximately $46 billion was committed for programs to help struggling families avoid foreclosure, with these expenditures being made over time.
The Emergency Economic Stabilization Act of 2008 established OFS within the Office of Domestic Finance at the Department of the Treasury to implement TARP.
 
Truth Detector said:
So, you thought all our banks should just fail and tank the economy hurting nearly every American in America? That's seems very stupid.

Treasury established several programs under TARP to help stabilize the U.S. financial system, restart economic growth, and prevent avoidable foreclosures.

Although Congress initially authorized $700 billion for TARP in October 2008, that authority was reduced to $475 billion by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Of that, the following amounts were committed through TARP's five program areas:

  • Approximately $250 billion was committed in programs to stabilize banking institutions ($5 billion of which was ultimately cancelled).
  • Approximately $27 billion was committed through programs to restart credit markets.
  • Approximately $82 billion was committed to stabilize the U.S. auto industry ($2 billion of which was ultimately cancelled).
  • Approximately $70 billion was committed to stabilize American International Group (AIG) ($2 billion of which was ultimately cancelled).
  • Approximately $46 billion was committed for programs to help struggling families avoid foreclosure, with these expenditures being made over time.
The Emergency Economic Stabilization Act of 2008 established OFS within the Office of Domestic Finance at the Department of the Treasury to implement TARP.
Click to expand...
Government is lying to you. US planes are falling out of the sky, trains are coming off the tracks, bridges and roads are crumbling. Our entire economy has been hollowed out.

Every industry is laying off. Capital is moving to China.
 
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