John Stossel busts the myths about Capitalism that socialists are spreading. It DOES help the poor get richer!
“No one ever makes a billion dollars,” complains Rep. Alexandria Ocasio-Cortez. “You take a billion dollars.” In other words, capitalists get rich by taking money from others.
That’s nonsense, and Myth No. 1.
“People believe that myth if they think that when one person wins, someone else must lose. It’s natural to believe that if you think there is a finite amount of money in the world. But there isn’t.”
“Free markets increase total wealth. Competition encourages entrepreneurs to find new ways to release more value from both people and resources.”
“Research shows that entrepreneurs only keep 2.2% of the additional wealth they generate. “In other words, the rest of us captured almost 98% of the benefits,” says economist Dan Mitchell of the Center for Freedom and Prosperity.”
“I hope that we get 100 new super billionaires,” he adds, “Because that means 100 new people have figured out ways to make the rest of our lives better off.”