The poor pay not invest in new businesses, technology, or equipment and labor, but by just the slightest of majority, most Americans work for a small business, and according to fox news only 2% of small business owners are in the 1%.
Anyhow, without demand, there would be no need for new businesses, technology, equipment or labor. Our economy is driven by demand, not by investment. Investment is a result of demand.
If no one wanted to purchase cars, we wouldn't have too many car dealerships or producers would we? What about horse drawn carriages? Or smartphones?
The ‘Self-Made’ Myth: Our Hallucinating Rich
Did the Forbes 400 Billionaires Really 'Build That'?
The report says 22 percent of the list were born on first base: they came from a comfortable but not rich background and might have received some start-up capital from a family member. This group includes Mark Zuckerberg and hedge funder Louis Bacon, who started Moore Capital Management with help from a small inheritence.
Only 11.5 percent were born on second base, the report says. Second base is defined as people who inherited a medium sized company or more than $1 million or got “substantial” start-up capital from a business or family member. (Read more: Millionaire Parents Say Kids Are Not Fit to Inherit)
This group includes Donald Trump, who built on his father’s real-estate business, and Donald Schneider who inherited the Schneider International trucking company.
The report says 7 percent were born on third base, inheriting more than $50 million in wealth or a big company. The report includes Charles Koch and Charles Butt on third base.
The report says 21 percent were born on home plate, inheriting enough money to make the list.
"I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill