The money is better for the economy if it is spent on products that are made by factories that hire employees
And yet unless someone, or some group (ie investors with surplus money) had the capital to invest in the first place, that factory would not exist and would not be producing those goods.
Having 1,000 uber-rich fat-cats who own almost everything, while the teeming millions live in abject poverty, is not good: it is commonly the condition of many 3rd-world countries and dictatorships.
Having ~1000 uber-rich capitalists, hundreds of thousands of millionaires, millions of middle-class small-biz owners or high-demand professionals, and tens of millions of well-paid specialists makes for a more well-rounded economy, and that is what the US has. (numbers highly approximate btw.) In this situation, a rising tide really does lift all boats. If companies and capitalists have more money, they invest more, expand businesses, and that means more jobs, more promotions, more raises for most people.
I'm not jealous of Bill Gates. :mrgreen: He could buy and sell a million of me, but also he has worries I don't have.
There's a local tycoon named Roger Milliken, who owns most of the textile biz in upstate SC. I've met the man and know a bit about him. He's worth over 400 million the last time I checked. He works like a dog, 60-80 hours a week, keeping his businesses going. His cellphone rings day and night, he's chained to the thing. His social events are really business meetings with cocktails and music. Someone in his organization told me he hadn't taken a vacation in years. He's old, and he looks it; running that corporation has taken such a toll on him I'm amazed he's still alive.
I wouldn't want to be him, but if it wasn't for someone like him those textile plants would have gone to South America or Asia twenty years ago and several thousand people would have lost jobs locally. Well-paying jobs.
, then prices would of necessity soar, because there would be more money than goods/services. A million dollars would quickly become the equivelent to 30,000 dollars in actual buying power... net result nada.
