“This argument ignores the fact that taxes on entrepreneurs and investors are already historically low, even after this year’s modest increases. And it ignores the assertions of many investors and entrepreneurs (like me) that they would work just as hard to build companies even if taxes were higher. But, more importantly, this argument perpetuates a myth that some well-off Americans use to justify today’s record inequality—the idea that rich people create jobs.”
Time was when I was younger and believed that there are certain political “leaders,” who mostly told the truth. Today I’m a wiser man and while I still do believe that many politicians are not exactly liars They do not, however, consistently tell the whole truth — just as many sales people do not. That’s why caveat emptor is wisdom. Voters and consumers alike must be smart buyers through comparison shopping, reading reviews and asking around. That’s why education is so important.
Nothing is more slippery than language and that fact enhances the slipperiness of politicians in touting their own interest. Perhaps it was in the interest of Obama to leave unsaid many things about the ACA. Perhaps it was in the interest of Republicans to claim voluntary dis-employment as job loss and not noting that voluntarily dropping of jobs opens up opportunities for the unemployed. No politician as no sales person is obligated to mouth the pitch of the competition. Ford salespeople may know that GM uses better whatsamajigs in its engines than does Chevy. Promoters are smart to leave such discoveries up to the consumer. Besides so much is a matter of opinion between multiple choices. Better the monkey is on your back and not mine. To each his own pitch.
And so, while it may be true that some really rich folks are creating new jobs by investing in new enterprise directly or through investments, that creation is only a percentage. Is it a tithe, one percent or 20 %. Besides, if high taxes are throttling business, why is business so good in New York? Planetary experience with human nature leads me to believe that some other percentage goes into casino gambling. True, going to the casino supports dealers, bartenders and servers, but this investment is not like investing in a new computer parts factory where value is really added to raw material.
The attached article reminds us that most of what we hear, really and truthfully is not likely to be wholly true.