Reminds me of this Milton Friedman clip........... "the little people".... lmfao
http://www.realclearmarkets.com/art...ncludes_big_tax_cuts_for_the_rich_102907.html
In the film The Sound of Music (1965), one of the characters, Max Detweiler, declares, “I like rich people. I like the way they live. I like the way I live when I’m with them.”
I get it. Indeed, many people do. But there’s a heck of a lot more to rich people than fast cars, big houses, nice food, and yachts. From an economist’s perspective, there are three key reasons why rich people rock.
First, in a free market system, there’s really only one way to legitimately earn considerable wealth, and that’s by supplying goods or services that other people want or need. In another movie, Wall Street, an ignorant, cartoonish look at capitalism courtesy of Oliver Stone, the main character, Gordon Gekko, infamously declared that “greed is good.” The implication was that capitalism was just a game driven by greed. In reality, though, no matter what the internal motivations might be of any individual, the free enterprise system requires one to look to others first in order to achieve success. That’s certainly not the case with socialism or the welfare state. So, in a capitalist economy, rich people get rich by creating value for others.
http://www.realclearmarkets.com/art...ncludes_big_tax_cuts_for_the_rich_102907.html
In the film The Sound of Music (1965), one of the characters, Max Detweiler, declares, “I like rich people. I like the way they live. I like the way I live when I’m with them.”
I get it. Indeed, many people do. But there’s a heck of a lot more to rich people than fast cars, big houses, nice food, and yachts. From an economist’s perspective, there are three key reasons why rich people rock.
First, in a free market system, there’s really only one way to legitimately earn considerable wealth, and that’s by supplying goods or services that other people want or need. In another movie, Wall Street, an ignorant, cartoonish look at capitalism courtesy of Oliver Stone, the main character, Gordon Gekko, infamously declared that “greed is good.” The implication was that capitalism was just a game driven by greed. In reality, though, no matter what the internal motivations might be of any individual, the free enterprise system requires one to look to others first in order to achieve success. That’s certainly not the case with socialism or the welfare state. So, in a capitalist economy, rich people get rich by creating value for others.
