sc94597 said:
They save so that they can invest back into business. Wal-Mart, Microsoft, Facebook, etc, etc all were created by current "1-percenters." All of these have made peoples lives better, not worse. Wal-Mart is a highly valuable shopping source for poor Americans, Microsoft has greatly contributed to the existence of the personal computer, a device which extremely empowers individuals, and Facebook allows people to connect with old friends and be more happy socially. I live in the city of Pittsburgh. There are many renmants of Andrew Carnegie here, who would be equivalent to today's onepercenters. I go to a top-tie university partly created by his efforts (Carnegie Mellon University), mostly on private grants, throughout the city there are multiple libraries, museums, and other publicly used buildings all maintained by the Carnegie Institute. Even 100 years after his death, he has influence on the lives of people in this city and people's lives are better because of it. So, certainly, long-term savings, even by the ultra-rich, help fuel the economy. |
ok, so all those people once had good ideas on how to improve life for everyone and had the skills to make those ideas reality. but what about now. do a few good ideas in the past really justify an ongoing tremendous cashflow towards a few people who obiously don't have any further good ideas or the skills to make them happen because otherwhise they wouldn't need to wait for an investment?
