Browse > Home / Politics / Blog article: Newsflash! Entrepreneurs are richer. . .

Newsflash! Entrepreneurs are richer. . .

January 31, 2008

The image “http://www.hepl.harvard.edu/harvard-logo.gif” cannot be displayed, because it contains errors.After considerable research Harvard has uncovered an amazing fact: “Entrepreneurs are, on average, significantly wealthier than people who work in paid employment.” [via]

OMG! Who knew? Their research indicates that entrepreneurs represent 9% of households in the United States.  This small group holds 38% of assets and 39% of total net worth.  Of course Harvard’s analysis of the obvious concludes that “tax incentives or other initiatives intended to motivate the not-so-rich into entrepreneurship don’t really even things out, because even people with deep pockets can to reap the benefits of such programs.”

His point is that we shouldn’t ‘motivate’ the ‘not-so-rich’ to start businesses because rich people would be able to take advantage of the same programs.  Huh?  Let me get this straight, he is suggesting we shouldn’t help the poor due to risk that the rich might benefit as well?  At the end of the day Ramana thinks that equality is reached only through equality of outcome.  To bad he isn’t familiar with Sean Lemass phrase “a rising tide lifts all boats” used most famously by John F. Kennedy who employed the phrase to combat criticisms that his tax cuts would benefit mostly wealthy individuals.  (Note to Ramana ~ the rich are going to get richer anyway, take a risk and help poor people get rich too)

Written by Alexander Muse · Filed Under Blog, Politics 

Comments

One Response to “Newsflash! Entrepreneurs are richer. . .”

  1. mike simonsen Says:
    February 1st, 2008 at 6:48 pm

    That’s funny. This guy at Case Western did a study and decided, since a lot of entrepreneurs don’t make a lot of cash, that we should only create programs for the kind of businesses he thinks are important. And the rest should go get jobs.

    http://www.businessweek.com/smallbiz/content/jan2008/sb20080123_809271.htm

    Unbelievable isn’t it? I have an idea: How about we encourage as many people to get as rich as possible?

Leave a Reply