Liberals Believe in Trickle Down Economics

[auditor0007]

We often hear the liberals decry the Reagan "Trickle Down" years, lamenting how the theory didn't work in spite of the overwhelming economic recovery from the Carter Malaise. The thing that has always baffled me is how liberals fail to see their own fail. Trickle down certainly did work, but furthermore, every free market capitalist economy is trickle down.

That's right, we are presently experiencing trickle down economy as I type, even under the socialist oppression of Obama. Now there's not much trickling down these days because the administration is hostile toward capitalism, but that's how all capitalist economies work.

You see, you have the capitalist who is in business to make a profit. He hires and fires, makes decisions on expansion or production efficiency, cuts losses and trims waste. In the end, his venture is either profitable or not. If it's not, his venture will eventually go under and he's out of business. If he makes a profit, he will pay off investors, pay back loans, settle debts, look at ways to expand his business, reward his employees, and probably take his wife out for a nice steak dinner.

As this money shifts from his profitable hands, it trickles down. Investors and banks show profits, pay off their debts, reward their employees, take their wives out for dinner. Rewarded employees pay off their debts, invest in a new home or car, and take their wives out to dinner. Real estate agents and car dealers show profits as a result, and they will pay off debts, reward employees, etc. Restaurants see an uptick in people taking their wives out for steak dinners, so they realize a profit and reward their employees, pay off debts, look at ways to expand their business and even take their own wives out for dinner. And so on and so forth.

Now, when you go on a socialist rampage and attack capitalist profits as evil and wrong, institute policies designed to restrict profits or outright confiscate them through taxes and regulatory fees, then there is nothing to trickle down. Debts accumulate and go unpaid, or have to be restructured. Plans to expand are put on hold or cancelled. No bonuses for employees, no new houses or cars, no steak dinners for the wives. Investors, bankers, construction, real estate, etc., no longer have the profits trickling down, so they can't give their employees bonuses or take wives out for steak dinners. The trickle becomes a slow drip and the capitalist goes into survival mode.

It's important to remember, trickle down is still happening because it's the natural state of a capitalist economy. There are still people making profits, paying off debts, expanding their business, rewarding employees, and taking their wives out for steak dinners. It's just not happening as much. Liberals may claim they don't believe in 'trickle down' but if they believe in free market capitalism at all, they believe in trickle down.

With the vast amount of money companies have to invest in growth, they are not investing, and it's not due to regulations or taxes being too high. It's due to the fact that those who would normally purchase their goods do not have the extra cash to do so. This in great part is due to stagnant wages for working class Americans. This is where conservatives get lost concerning the minimum wage and wages overall. They think that by paying people less, they can make more money, but they miss the boat when not understanding that without reasonable earnings, there won't be many people to purchase their goods or services.

Now part of the problem is that so many people got hammered during the collapse of the housing market and stock market that they are being a bit more careful and have been paying down debt. Once their debt is more in balance, there will be a bit more money to spend and this should help also, but the bottom line is that while we have to have people with money to start and expand businesses, if there are no buyers for their goods and services then you will not see any real expansion in the economy. You see, it's not just one or the other. Both go hand in hand.

 

[auditor0007]

Liberals showing their ignorance on economics, also shows why we are still in a recession after 5 years of obama.

Of course, because we all know we should not make businesses or wealthy people pay any taxes at all, and we should remove all regulations so businesses can do whatever they want. Of course, you do realize that most regulations having to do with American businesses came about due to those same businesses not being able to police themselves and do the right thing? Remember when companies just dumped whatever waste they had into our lakes and rivers, and out to sea? People actually gave a shit because they were destroying everything. Are there some things that are over-regulated? Almost certainly, but what so many of you want is for companies to have no regulations at all. It's truly unbelievable. As for ignorance on economics, please do not make me laugh. It hurts too much.

 

[Boss]

Then that should simplify matters, if they are not concerned with the well being of the economy then we should immediately quit giving them gifts of tax cuts to try to make them at least a little concerned, fuck em.

Yep, and we should eliminate all government hand-outs to every person who is not interested in creating more jobs or keeping them in the US. I wonder how many welfare check recipients even thought about how to create a new job or keep one in America this month? How many people received an EIC tax refund this year, and didn't do one thing to ensure any new jobs were created or not outsourced? You are absolutely right, that is a brilliant idea!

I wonder how many food stamps got funneled to offshore accounts? How many EICs bought anything made of solid gold? I have little problem if that money gets spent quickly and in America, that's stimulative, Too much corporate socialism is demonstrably non-stimulative but we do it anyway with the full blessing of "fiscal conservatives".

Well hold on now.... it doesn't create new jobs or keep them from being outsourced. Poor folks spending money doesn't really do much for the economy because they are going to spend that money no matter what. They aren't going to invest in new capitalism and create new jobs. In fact, because they are poor and on a fixed limited income, the capitalist has to figure out how to market his products and services accordingly, and they may actually be causing a reduction in jobs and more outsourcing, as the capitalist attempts to adjust to accommodate their low income.

You'll get no complaints from me about removing government incentives to capitalists, I don't think there should be any. I also don't think there should be many of the regulatory and tax burdens. Things that aren't directly related to public health and safety need to be eliminated.

 

[JFK_USA]

.

This is all part of the "you didn't build that, someone else did" mentality. Most are people with absolutely no understanding of or appreciation for the risks, failures, headaches, costs and sacrifices of starting and growing and operating a business.

Moreover, they don't WANT to know about it or admit to it, because at some point they'd have to look in the mirror at the fear and unwillingness inside of them to do what it takes. It's easier to just label the business owner be the bad guy and do the entitlement thing.

The purpose of a business/corporation is to maximize shareholder value, not to put food on the table of people who don't have the balls to start their own business or the willingness to make themselves more valuable on the job market.

And they chafe when people don't believe they're pro-business.

Yes it is responsible for putting food on the table. If businesses don't hire or don't pay a wage that they can survive on, civil unrest occurs and then the people don't care about the needs of millionaires and billionaires, they care about their own survival. No one wins with civil unrest.

And most people don't have the capital to start their own business not that they don't have the "balls" to do it. And people do strive to make themselves more valuable on the job market which is why people go to college and trade schools to learn skills but then skyrocketing tuition still makes people economic slaves to their debt.

See most of the policies in this country are already in place to benefit the super rich while punishing those striving to attain the American dream. That's not the land of opportunity people dream about.

It's not the individual's responsibility to put food on the table? Are you serious? That's the most fundamental thing a person of sound mind and body can do. To pawn that off onto someone else is ridiculous.

There are a million ways to start a business that don't take substantial capital. It's done every day, but only by people who are willing to take the risks and make the necessary sacrifices. Anyone who has actually done it knows that.

If a person of sound mind and body wants to improve their life, they can choose to do so. Putting the responsibility on someone else is the lazy way out.

I have far more faith in people than you do.

.

Never said that it's not the individual's responsibility but you are ignoring that not everyone owns property or if they own property that they don't have enough land to grow the food they need to survive. We are not a agriculture based economy anymore. People need jobs and they need jobs that pay the bills, provide the essentials and gives them some disposable income to do with whatever they please. Many people in this country have jobs that can't provide for the essentials without some assistance from the government.

So in reality, survival in our modern economy is dependent on others creating jobs. Just because you want to be ignorant of that fact doesn't make it false.

 

[bripat9643]

Capitalists do not create wealth.......the workers do

How does the worker create wealth without machinery or a factory to work in?

 

[bripat9643]

Capitalists do not create wealth.......the workers do

How do they get the job to be able to do that?

.

Nobody "gets" a job. They provide labor from which the employer profits

The worker also profits, numskull. The employer provides the worker with the machinery to do his job. Without that machinery, the worker would produce diddly squat.

 

[bripat9643]

Nobody "gets" a job. They provide labor from which the employer profits

Doesn't the employer have to make the choice to hire him? Should that be forced?

And how does an employer get to the point where he can afford to hire his first employee, let alone several?

Does he just snap his fingers?

.

He goes to the bank and mortgages his house.

So why shouldn't he be compensated for taking that risk?

 

[bripat9643]

How do they get the job to be able to do that?

.

I've heard Sean Hannity say it often....
Try getting a job from a poor person!

Try getting your lawn mowed by a rich person

The capitalists provide no goods or services. They only profit off the labor of others

How does the poor person provide a service building cars without an automobile factory?

 

[Boss]

We often hear the liberals decry the Reagan "Trickle Down" years, lamenting how the theory didn't work in spite of the overwhelming economic recovery from the Carter Malaise. The thing that has always baffled me is how liberals fail to see their own fail. Trickle down certainly did work, but furthermore, every free market capitalist economy is trickle down.

That's right, we are presently experiencing trickle down economy as I type, even under the socialist oppression of Obama. Now there's not much trickling down these days because the administration is hostile toward capitalism, but that's how all capitalist economies work.

You see, you have the capitalist who is in business to make a profit. He hires and fires, makes decisions on expansion or production efficiency, cuts losses and trims waste. In the end, his venture is either profitable or not. If it's not, his venture will eventually go under and he's out of business. If he makes a profit, he will pay off investors, pay back loans, settle debts, look at ways to expand his business, reward his employees, and probably take his wife out for a nice steak dinner.

As this money shifts from his profitable hands, it trickles down. Investors and banks show profits, pay off their debts, reward their employees, take their wives out for dinner. Rewarded employees pay off their debts, invest in a new home or car, and take their wives out to dinner. Real estate agents and car dealers show profits as a result, and they will pay off debts, reward employees, etc. Restaurants see an uptick in people taking their wives out for steak dinners, so they realize a profit and reward their employees, pay off debts, look at ways to expand their business and even take their own wives out for dinner. And so on and so forth.

Now, when you go on a socialist rampage and attack capitalist profits as evil and wrong, institute policies designed to restrict profits or outright confiscate them through taxes and regulatory fees, then there is nothing to trickle down. Debts accumulate and go unpaid, or have to be restructured. Plans to expand are put on hold or cancelled. No bonuses for employees, no new houses or cars, no steak dinners for the wives. Investors, bankers, construction, real estate, etc., no longer have the profits trickling down, so they can't give their employees bonuses or take wives out for steak dinners. The trickle becomes a slow drip and the capitalist goes into survival mode.

It's important to remember, trickle down is still happening because it's the natural state of a capitalist economy. There are still people making profits, paying off debts, expanding their business, rewarding employees, and taking their wives out for steak dinners. It's just not happening as much. Liberals may claim they don't believe in 'trickle down' but if they believe in free market capitalism at all, they believe in trickle down.

With the vast amount of money companies have to invest in growth, they are not investing, and it's not due to regulations or taxes being too high. It's due to the fact that those who would normally purchase their goods do not have the extra cash to do so. This in great part is due to stagnant wages for working class Americans. This is where conservatives get lost concerning the minimum wage and wages overall. They think that by paying people less, they can make more money, but they miss the boat when not understanding that without reasonable earnings, there won't be many people to purchase their goods or services.

Now part of the problem is that so many people got hammered during the collapse of the housing market and stock market that they are being a bit more careful and have been paying down debt. Once their debt is more in balance, there will be a bit more money to spend and this should help also, but the bottom line is that while we have to have people with money to start and expand businesses, if there are no buyers for their goods and services then you will not see any real expansion in the economy. You see, it's not just one or the other. Both go hand in hand.

Capitalists are still selling their goods and services, profits are still being realized, taxes are still being paid. Some capitalists are not able to compete and are going under. This is normal for capitalism in a free market system. The minimum wage is an artificial input controlled specifically by government and it directly effects any capitalist. Raising the minimum wage only increases the price the capitalist must charge for the same goods and services. You somehow delusionally think the capitalist is going to absorb this increase or take it out of his profits, and that isn't reality.

Yes, for the economy to improve, people need to have more money in their pockets. This happens as a result of the capitalist realizing more profits, paying off his debts, providing a return to his investors, expanding his business and creating new jobs or giving his star employees raises for a job well done. All of these activities feed on themselves, promoting even more economic activity, creating even more jobs and prosperity.

What you are presenting is a Keynesian economic philosophy, and it just doesn't work. I know that it sounds great in theory, many smart people have adopted it and promoted it, but we've seen the results and it just doesn't generate economic growth and prosperity. At the very best, it keeps us floating on a life raft, waiting for a revival of free market capitalist venture. Wages may rise, but so do prices. Incomes increase at about the rate of inflation and we're no better off in the end. No jobs can be created, more jobs are outsourced.

 

[Boss]

Never said that it's not the individual's responsibility but you are ignoring that not everyone owns property or if they own property that they don't have enough land to grow the food they need to survive. We are not a agriculture based economy anymore. People need jobs and they need jobs that pay the bills, provide the essentials and gives them some disposable income to do with whatever they please. Many people in this country have jobs that can't provide for the essentials without some assistance from the government.

So in reality, survival in our modern economy is dependent on others creating jobs. Just because you want to be ignorant of that fact doesn't make it false.

And this illustrates one of the biggest problems we currently face. The disillusionment of society in general. The thinking that people are helpless in a free and open society. The mindset that individuals and families must depend on government because no other way is possible to survive. This is clearly the success of Marxist propagandists, or at the very least, what they thrive on instilling. You have to deprogram yourself from this way of thinking.

Every American, rich or poor, has the opportunity to participate in our free market capitalist system. That's the great and wonderful beauty of it. This explains how a poor little black girl in a tar paper shack of Mississippi, can eventually become the wealthiest woman in America. Government subsidy didn't make Oprah wealthy and she certainly didn't resign herself to depending on someone to give her a job. She got to where she is by working hard, believing in herself and her abilities, and going after her dream. I'm sure there were times along the way it seemed hopeless, unattainable, too much of a challenge, but she kept on and didn't give up. She didn't sit on her ass and say... Well, I am a poor black girl, I don't stand a chance.

Now the interesting thing to note here is how the Marxist Socialist promoters have effectively helped to knock the underpinning out from under the poor and working class, making it even more difficult than ever to achieve these levels of success in America. Once upon a time, you could start a small business up without much hassle, it wasn't that hard to hang your shingle and start realizing profits. Today, you have to jump through 50-bazillion government hoops to even start your business, then you have the regulatory costs and tax burdens, mandates and requirements that have to be met, all of them costing valuable resources and zapping your profits. It's still doable, because we still live in a free market capitalist society, but the more Marxists get their way, the harder it becomes and the fewer people who are able to make that leap.

 

[Mac1958]

Yes it is responsible for putting food on the table. If businesses don't hire or don't pay a wage that they can survive on, civil unrest occurs and then the people don't care about the needs of millionaires and billionaires, they care about their own survival. No one wins with civil unrest.

And most people don't have the capital to start their own business not that they don't have the "balls" to do it. And people do strive to make themselves more valuable on the job market which is why people go to college and trade schools to learn skills but then skyrocketing tuition still makes people economic slaves to their debt.

See most of the policies in this country are already in place to benefit the super rich while punishing those striving to attain the American dream. That's not the land of opportunity people dream about.

It's not the individual's responsibility to put food on the table? Are you serious? That's the most fundamental thing a person of sound mind and body can do. To pawn that off onto someone else is ridiculous.

There are a million ways to start a business that don't take substantial capital. It's done every day, but only by people who are willing to take the risks and make the necessary sacrifices. Anyone who has actually done it knows that.

If a person of sound mind and body wants to improve their life, they can choose to do so. Putting the responsibility on someone else is the lazy way out.

I have far more faith in people than you do.

.

Never said that it's not the individual's responsibility but you are ignoring that not everyone owns property or if they own property that they don't have enough land to grow the food they need to survive. We are not a agriculture based economy anymore. People need jobs and they need jobs that pay the bills, provide the essentials and gives them some disposable income to do with whatever they please. Many people in this country have jobs that can't provide for the essentials without some assistance from the government.

So in reality, survival in our modern economy is dependent on others creating jobs. Just because you want to be ignorant of that fact doesn't make it false.

If a person of sound mind and body doesn't like their situation, they can choose to improve it.

YOU want to be ignorant of THAT fact.

.

 

[JFK_USA]

Never said that it's not the individual's responsibility but you are ignoring that not everyone owns property or if they own property that they don't have enough land to grow the food they need to survive. We are not a agriculture based economy anymore. People need jobs and they need jobs that pay the bills, provide the essentials and gives them some disposable income to do with whatever they please. Many people in this country have jobs that can't provide for the essentials without some assistance from the government.

So in reality, survival in our modern economy is dependent on others creating jobs. Just because you want to be ignorant of that fact doesn't make it false.

And this illustrates one of the biggest problems we currently face. The disillusionment of society in general. The thinking that people are helpless in a free and open society. The mindset that individuals and families must depend on government because no other way is possible to survive. This is clearly the success of Marxist propagandists, or at the very least, what they thrive on instilling. You have to deprogram yourself from this way of thinking.

Every American, rich or poor, has the opportunity to participate in our free market capitalist system. That's the great and wonderful beauty of it. This explains how a poor little black girl in a tar paper shack of Mississippi, can eventually become the wealthiest woman in America. Government subsidy didn't make Oprah wealthy and she certainly didn't resign herself to depending on someone to give her a job. She got to where she is by working hard, believing in herself and her abilities, and going after her dream. I'm sure there were times along the way it seemed hopeless, unattainable, too much of a challenge, but she kept on and didn't give up. She didn't sit on her ass and say... Well, I am a poor black girl, I don't stand a chance.

Now the interesting thing to note here is how the Marxist Socialist promoters have effectively helped to knock the underpinning out from under the poor and working class, making it even more difficult than ever to achieve these levels of success in America. Once upon a time, you could start a small business up without much hassle, it wasn't that hard to hang your shingle and start realizing profits. Today, you have to jump through 50-bazillion government hoops to even start your business, then you have the regulatory costs and tax burdens, mandates and requirements that have to be met, all of them costing valuable resources and zapping your profits. It's still doable, because we still live in a free market capitalist society, but the more Marxists get their way, the harder it becomes and the fewer people who are able to make that leap.

It's not a disillusionment of society, it's people making observations and coming to conclusions about our future.

That if they even think of asking for a raise, they may lose their job because they created waves in their company. If they wanted to even express their grievances, that could put them out of favor with the company and then the company will look for ways to get rid of that person because they could create a problem.

They see their bosses and CEOs getting rich while their wage stays the same or goes up maybe $1,000 a year. That's assuming some one who is paid hourly rate a $0.50 an hour raise. How many companies do you know who pay hourly who gives each employee who has been there over a year a $0.50 raise each year? Yet with the rate of inflation going up 2% each year, Someone making $50,000 would need to get a $1,000 raise just to have the same purchasing power as the previous year. So for someone make $25,000, they would need a $500 raise. That would mean they would need a $0.25/hour raise and that's assuming they work 40 hours a week. Getting even some sort of raise is unheard of today. Yet the stock markets are soaring and companies are more profitable than have ever been.

Your ilk say it's because the CEOs work harder. So the CEO eating a lobster lunch for 3 hours is working harder than the oil platform worker risking his life and body to get the oil so they can have their lobster lunch? I don't think so.

 

[HelenaHandbag]

I've heard Sean Hannity say it often....
Try getting a job from a poor person!

Try getting your lawn mowed by a rich person

The capitalists provide no goods or services. They only profit off the labor of others

How does the poor person provide a service building cars without an automobile factory?

By demanding a car?

 

[Boss]

Never said that it's not the individual's responsibility but you are ignoring that not everyone owns property or if they own property that they don't have enough land to grow the food they need to survive. We are not a agriculture based economy anymore. People need jobs and they need jobs that pay the bills, provide the essentials and gives them some disposable income to do with whatever they please. Many people in this country have jobs that can't provide for the essentials without some assistance from the government.

So in reality, survival in our modern economy is dependent on others creating jobs. Just because you want to be ignorant of that fact doesn't make it false.

And this illustrates one of the biggest problems we currently face. The disillusionment of society in general. The thinking that people are helpless in a free and open society. The mindset that individuals and families must depend on government because no other way is possible to survive. This is clearly the success of Marxist propagandists, or at the very least, what they thrive on instilling. You have to deprogram yourself from this way of thinking.

Every American, rich or poor, has the opportunity to participate in our free market capitalist system. That's the great and wonderful beauty of it. This explains how a poor little black girl in a tar paper shack of Mississippi, can eventually become the wealthiest woman in America. Government subsidy didn't make Oprah wealthy and she certainly didn't resign herself to depending on someone to give her a job. She got to where she is by working hard, believing in herself and her abilities, and going after her dream. I'm sure there were times along the way it seemed hopeless, unattainable, too much of a challenge, but she kept on and didn't give up. She didn't sit on her ass and say... Well, I am a poor black girl, I don't stand a chance.

Now the interesting thing to note here is how the Marxist Socialist promoters have effectively helped to knock the underpinning out from under the poor and working class, making it even more difficult than ever to achieve these levels of success in America. Once upon a time, you could start a small business up without much hassle, it wasn't that hard to hang your shingle and start realizing profits. Today, you have to jump through 50-bazillion government hoops to even start your business, then you have the regulatory costs and tax burdens, mandates and requirements that have to be met, all of them costing valuable resources and zapping your profits. It's still doable, because we still live in a free market capitalist society, but the more Marxists get their way, the harder it becomes and the fewer people who are able to make that leap.

It's not a disillusionment of society, it's people making observations and coming to conclusions about our future.

That if they even think of asking for a raise, they may lose their job because they created waves in their company. If they wanted to even express their grievances, that could put them out of favor with the company and then the company will look for ways to get rid of that person because they could create a problem.

They see their bosses and CEOs getting rich while their wage stays the same or goes up maybe $1,000 a year. That's assuming some one who is paid hourly rate a $0.50 an hour raise. How many companies do you know who pay hourly who gives each employee who has been there over a year a $0.50 raise each year? Yet with the rate of inflation going up 2% each year, Someone making $50,000 would need to get a $1,000 raise just to have the same purchasing power as the previous year. So for someone make $25,000, they would need a $500 raise. That would mean they would need a $0.25/hour raise and that's assuming they work 40 hours a week. Getting even some sort of raise is unheard of today. Yet the stock markets are soaring and companies are more profitable than have ever been.

Your ilk say it's because the CEOs work harder. So the CEO eating a lobster lunch for 3 hours is working harder than the oil platform worker risking his life and body to get the oil so they can have their lobster lunch? I don't think so.

CEOs are hired by a corporation's board of directors. The board considers candidates and hires the person they believe will be a good CEO for their company. Their main consideration is the future and profits of their company and returns on shareholder investment. The board also votes to increase the CEO's pay or award bonuses. Now why would a board deliberately want to pay a CEO more than what he/she is worth? This would totally defeat the purpose of what is best for the corporation and shareholders.

Now I want you to take a step back from your ideology a moment and think about this. Let's assume I am your employer, and I am paying you $25 an hour to do a job for 40 hours a week. Fair enough? It's an average job, you work hard but feel your pay is about right for what you're doing. Now... at the end of your week, when it comes time to be paid, I say to you... "JFK, sales were down last week and we had two people out on sick leave, so I am deducting half your pay to compensate for that." Are you going to be okay with this? Of course not, because your concern is not how the company deals with such things. You don't give two shits about sales or profits, or who was out sick. You did your work and expect to be paid. Are you greedy? Are you being fair? Why would you hold the CEO or corporation to a standard you aren't willing to adhere to yourself?

The point is this, a capitalist is not concerned with making sure their employees are paid proportionally to whatever profits they make or to maintain their pay in line with the cost of living. Their only objective is to make as much profit as possible and grow their company. If they could hire people to work for free, they'd do that. Unfortunately, not many people want to work for free, so they have to pay them something. How much they pay is dependent on many factors, but they are generally not going to pay anyone more than they are worth. The exception might be, if no one else can do the job. That's rare.

You've got to stop looking at capitalists as some benevolent wealthy entity who just have this big endless pile of money they can spend frivolously. Sure, they do show "record profits" but that is what they are supposed to do as capitalists. That's the whole point of being a capitalist, to make profits. If they are going to remain capitalists, they will have to continue to do this, that is their only objective and motivation as capitalists. You're not ever going to succeed in "punishing" them by demanding they pay their employees more. They will always find a way to mitigate your actions and continue making the same profits. This may include downsizing, outsourcing, increasing prices or production quotas. They're never going to simply siphon money from their profits and bottom line to pay people more. Just as you would never agree to sacrifice a portion of your paycheck to compensate those who took sick leave or to offset a sales slump with the company.

 

[Spiderman]

Capitalists do not create wealth.......the workers do

How do they get the job to be able to do that?

.

Nobody "gets" a job. They provide labor from which the employer profits

They do not provide labor. They sell their labor to an employer.

If they don't think enough of the commodity they sell to make that commodity worth more to employers then whose fault is that?

Everyone else who sells something must constantly be improving and refining their products to stay competitive. People who sell their labor should do the same.

 

[KNB]

I've heard Sean Hannity say it often....
Try getting a job from a poor person!

Try getting your lawn mowed by a rich person

The capitalists provide no goods or services. They only profit off the labor of others

How did they accumulate their capital in the first place?

Is there a big secret pile of cash somewhere that they aced you out of?

Yes, actually there is.
Global super-rich hide $21 trillion in tax havens - CNN.com
Super-Rich Hide $21 Trillion in Secret Tax Havens, Says Tax Justice Network - ABC News
Tax havens: The missing $20 trillion | The Economist
Rich hide up to $32 trillion in offshore tax havens, report contends - Los Angeles Times

 

[Little-Acorn]

Capitalists do not create wealth.......the workers do

Those are the capitalists he was referring to.

The people who turn the wrenches, keep the records, deliver the supplies, found the business, cut the checks, drive the trucks, purchase the trucks, decide to take on a new product line, etc.

Every one of them a capitalist.

 

[Moonglow]

Capitalists do not create wealth.......the workers do

How do they get the job to be able to do that?

.

Promise the workers will do the job....

 

[Moonglow]

I've heard Sean Hannity say it often....
Try getting a job from a poor person!

Try getting your lawn mowed by a rich person

The capitalists provide no goods or services. They only profit off the labor of others

How does the poor person provide a service building cars without an automobile factory?

Start in your garage, like Ford, Wright Brothers and a hundred more big corporations started out....

 

[KNB]

Why does wealth inequality correspond with lower corporate taxes?