This post is a response to a question posed in its complete format: “If the top one percent create jobs aka businesses, then without the everyday worker it would only be pipe dream right? Does money drip down not bottom up?”
That certainly is the myth perpetrated by the one percenters, but that’s just a narrative they have invested millions in convincing the gullible to support their hoard-growing efforts.
Anyone who spends even just minutes thinking about how the working class is the engine of the economy knows that’s just bunk — simply due to numbers and how no business can survive without market demand, because you can’t force people to buy your product, no matter how much Elon Musk wishes it were the case.
The job creators in society are the mass of consumers who create enough demand within any market niche, which justifies hiring staff to meet demand.
Making matters worse has been how the one percent have perverted the capitalist system to reduce their tax burden and eliminate laws that would prevent them from indulging in job-killing initiatives like stock-buybacks that they then distribute to shareholders, board members, and executives.
Fifty years ago, under a system of higher taxes and greater regulations limiting corruption, the one percent were incentivized to hire more people to reduce their tax burden. Further to all of that, and before the one percent went on massive “union-killing sprees” with corrupt “Right to Work” laws, the middle class had disposable incomes that they then reinvested back into the economy at greater proportions of their total wealth than the one percent ever have to create the most significant economic growth this world has ever seen.
When the middle class had disposable income, they would also have resources to create businesses and employ more people than is possible today. In today’s corporatist world, the only real employers of note are corporate employers who, when they have a bad quarter, make minor budget cuts that force hundreds to thousands at a time onto the unemployment line.
Fifty years ago, a business could fail, and fewer than one hundred people would be unemployed, with the economy easily absorbing that without a downturn. There was also enough diversity and opportunity for the recently unemployed to find new employment within one or two weeks.
In today’s world, corrupted by the one percent’s greed, people going years without finding suitable employment is not unheard of.
Money in the hands of the gluttonous never drips down. It collects in hoards to cater to sociopathic egos who regard those less fortunate with the same disdain many today consider the poor and homeless.
An economy is like a garden that relies on a strong root structure before flowering.
Economies grow from the bottom up.
Supply-side economics is a wealth redistribution scam responsible for putting the middle class on life support and making home ownership an unattainable dream, fifty years after Reagan betrayed the working class and changed the direction of the ship of state to become a tool of the oppressive class of one percenters.
Economies grow from demand.
No flower can survive without roots, just like no economy can be sustained without demand.
Update:
thotbag 