> Warrl kyree Tale'sedrin wrote:
>
> RE: >> but if you have to work for wage and must spend most of your
> wage for your survive you are not able to earn enough money to build up
> your own firm. Therefore you are forces to earn wage your hole life. <<
>
> > Sorry, but the three people I named (among a great many others --
> some of whom immigrated to the United States, not speaking English,
> possessing only those resources they were able to keep while fleeing
> through the jungle or accumulate during years in refugee camps --
> you can't get much poorer than that) did precisely what you
> say cannot be done.
> Maybe you didn't recognise the names, though.
>
> Ray Kroc was a milkshake-making-machine salesman and repairman, and
> from that start he created the McDonald's chain.
> Rich deVoss was a door-to-door soap salesman. He owns half of Amway.
>
> Sam Walton sold various supplies to small-town general stores. And
> created the WalMart chain. <<
>
> There is a new factor that isn't acknowledged in your argument above,
> and that is that our confiscatory tax system has grown immeasurably
> MORE confiscatory since the above gentleman were able to make their
> fortunes. In other words, it is much more difficult nowadays, with
> greatly increased gov't taxation on our incomes and everything else
> within sight, to save enough to go into one's own business.
This would be relevant if the person originating this were arguing
against government. In fact, he was arguing against capitalism.
> In addition, inflation by the Federal Reserve has eaten away the value
> of our money, drastically. Just compare prices for a commodity from,
> say, the 50s to their present prices, and you will see just how much
> purchasing power the dollar has lost.
Holding significant savings primarily in currency-denominated assets
has not been wise for a very long time. Inflation should have no
effect on the rate of savings; it should merely move those savings
even more toward equity as opposed to currency-denominated assets.
Inflation will not affect a person's ability to transform equity
assets into a self-owned business. In fact, if the market perfectly
anticipated and allowed for inflation (it's never PERFECT -- merely
better than any real-world-credible alternative we've thought of
yet), inflation would have absolutely no effect on that person's
ability to borrow money to help start the business -- and later repay
the loan.
> These facts would make the gentleman's argument more true than false,
> IMO.
Your opinion is mistaken, partially because these "facts" are as much
conclusion as fact, and the conclusion is wrong; and partially
because the actual facts you cite constitute an argument AGAINST his
position.
US$500 fee for receipt of unsolicited commercial email. USC 47.5.II.227