Finally, A Rich American Destroys The Fiction That Rich People Create The Jobs
http://articles.businessinsider.com/2011-12-12/news/30500948_1_entrepreneurs-and-investors-capital-gains-and-income-jobs
I find these statements dead on. Rich people do not consume more than other people and tend to make very conservative investments that rarely lead to job creation. I am quite certain that if the 1% were to take 50% of their money and simply spread it via helicopter over the US that they would actually get that money back from a reinvigorated economy. However, rich people really have no incentive to get richer (once you reach a certain point more money is just a way to keep score). Their paranoia, and what they focus their obsession on, is not getting poorer. As a consequence, they tend to not even spend the income they do get instead ‘reinvesting’ it (not really reinvesting, the simply leave it in the conservative funds they initially placed it in) their money. Only when they finally achieve the exalted state (to which I aspire) of having more money than sense do they actually spend any of their money (and then typically on silly things since they already have everything they need). Investment funds that target novel business ideas are actually quite rare (I know this from having sought such funds for many years to back my ideas), the majority of them tend to be very conservative and generally invest in the same old thing over and over again.
So, contrary to the claims stridently shouted by the conservatives shilling for the uber rich, higher taxes for the wealthy (to a certain point, naturally, but that point is substantially higher than what we are experiencing now) do not inhibit growth, it can actually stimulate it (presuming, naturally, the money actually goes to people who consume and not just into the wallets of other, better connected, rich folk).
