Owning a successful business can be like owning a press that prints money. Of course, starting a successful business is difficult. More than half of US businesses fail in the first five years. And of those that survive, the vast majority are owner operated businesses that make their owners less than the median salary earned in the US.
Obviously it’s easier to buy an established business, but then you’re risking a lot of money if it turns out you’re not very good at running a business.
Wouldn’t it be great if you could buy a business that was guaranteed to be successful? Then, even if it turned out you’re an idiot, you’d still make money.
And, as luck would have it, such businesses do exist.
Everyone needs water and electricity connected to their home. And everyone needs healthcare at points in their life. They’re essential for modern life. Actually they’re mostly essential for life, period. Such essential services sell themselves.
Which make them the perfect businesses. Of course, being essential services, some argue that they should be provided by the government, so that no-one can profit excessively from them.
But here’s where the wealthy get creative in order to gain control of these businesses. They insist that they can run them more cheaply than the government can, meaning lower prices for customers, even while they generate profits that the government doesn’t have to.
It doesn’t matter who runs a water supplier. They all have to cover the cost of the goods, such as a water treatment plant, and the services, such as workers. However, only privately owned businesses also have to make profits. And the wealthy say they can achieve this for a lower cost than a publicly owned business could.
In effect, they claim that 1+1+1=<2
And because the politicians and media, both owned by the wealthy, repeat the absurd lie, most people actually think it’s true.
Which helps to explain how the wealthiest 10% of Americans have hoarded 68.3% of all US wealth, while the poorest 50% share just 2.5% between them.
So, do the sums really add up?
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