Did you guys know wealth is not used to create jobs and that most wealth is just stored away by wealthy people to keep their family wealthy? Or something?
Hey, we didn't make that claim, Nikole Hannah-Jones did.
See for yourself:
Most wealth is not used to create jobs. Most wealth is stored away and used to create more wealth for the wealthy family.
— Ida Bae Wells (@nhannahjones) May 18, 2024
You know the face you make when someone says something so impressively stupid or wrong that you're not sure if the account is a parody so you check a few times even though the account has you blocked and you have to look at the account another way only to find out that it is indeed not a parody?
Yes, we made that face.
Financial illiteracy is real, people. pic.twitter.com/Icjs5yjvmQ
— Ken Gardner (@KenGardner11) May 19, 2024
We got nothin'.
And how does "stored away" money magically make more money? pic.twitter.com/kv8uOSUzEm
— cat (@CatImcat) May 18, 2024
Technically impossible. Unless the wealth is stored by coins in a mattress, it is returned to banks or other investors to be reused to accumulate additional wealth - for someone else.
— James ✝️🇺🇸 (@wjamesawill) May 19, 2024
This is just another argument vilifying people for daring to be successful.
How dare they, you know?
This is the economic equivalent of being a flat-earther.
— First you will be baked, then there will be cake (@marshallpriddy) May 19, 2024
Indeed it is.
How is money both stored away used to create more wealth? These two things are literally opposites. Money being stored away loses value to inflation.
— Ongo Two Guns (@LongoGablogian) May 19, 2024
Recommended
Math is hard.
How exactly do you think "stored away wealth" creates more wealth?
— E S Wyatt (@EsWyatt73707) May 19, 2024
If it's stored away, it's losing value due to inflation, which means they would be losing wealth.
However, if it's creating more wealth, it's invested, which has a direct correlation to job creation.
Sounds like Econ 101 to us.
Maybe Hannah-Jones should take a class.
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