Difference Between Money and Wealth
Wealth and income are not the same
Wealth does not equal income, but people often mistakenly think they’re the same thing.
Wealth is the net worth of a household, whereas income is what’s reported on an income tax return.
Being rich isn’t about how much money you make or spend — it’s about how much money you keep
There are a lot of myths about wealth, but one seems to strongly persist: The idea that income equals wealth.
The Biggest Economic Fallacy of All — Money VS Wealth
There are a lot of misunderstandings about economics, and many of these misunderstandings affect the decisions we make, especially political decisions. But the worst economic fallacy of all is the confusion of “wealth” and “money.” These are two very, very, very different concepts, and the confusion of the two cost the lives of hundreds of millions of people in the last century, because of foolish political decisions.
My goal with this article is to define “money” and “wealth”, and explain why these are two different concepts.
Socialism Now, Socialism Tomorrow, Socialism Forever — The Ruin Of Nations
They insist it’s “democratic socialism” rather than “socialism.” Publicly, they say they merely yearn for the “democratic socialism” found in Scandinavian countries.
But what’s found in Sweden, Norway, and Denmark is not socialism or even democratic socialism. Those nations are more accurately defined as welfare states subsidized by market economies. They need capitalism to survive, and to fund their welfare programs. Even more so, they need the power of America’s capitalist engine to keep their economies moving forward.
Socialism Destroys the Human Character
If you see it up close, it’s no utopia
True socialists do not want a better world, they want a perfect one. That is why they so often view piecemeal amelioration with disdain or even hostility, and why they are willing to sacrifice the happiness of a present generation for the imagined bliss of a generation to come in the distant future. To adapt the Fool’s words in Twelfth Night very slightly: Present mirth hath no laughter. What’s to come is very sure. In delay there lies plenty . . .
Socialism’s Endless Refrain: This Time, Things Will Be Different
A lot has been written recently about the resurgence of socialism among young voters. Socialist candidates such as Alexandria Ocasio-Cortez in the United States, Jeremy Corbyn in the UK and Jean-Luc Mélenchon in France have seen huge surges in popularity. And while the candidates themselves span the age spectrum, they all find their most enthusiastic support among young people.
This socialist revival is, of course, neither a homogenous movement, nor a fully worked-out policy program. But if there is a common thread, it is the belief that emerging forms of socialism could be completely different from anything that has flown under that ideological banner in the past
NYC threatens up to $250G in fines for using terms like ‘illegal alien,’ threatening to call ICE
New York City’s Commission on Human Rights announced on Thursday that residents could face up to $250,000 in fines if they use terms such as “illegal alien … with intent to demean, humiliate or harass a person.”
“Hate has no place here,” a tweet from the City of New York read. The city’s announcement ticked off a list of offensive ways to address immigrants — including threatening to call Immigration and Customs Enforcement (ICE), or harassing someone for their “limited English proficiency.”