Tuesday, April 12, 2005
Wealth and money aren't the same things!
As a young college student, I am very familiar with not having a lot of money. However, I do possess a moderate amount of wealth. Confused? Well I will explain quickly, because not only is it simple to understand, but I get tired of typing real quickly. If I own a car (which I do) and possess a will leaving me property in the future (which I do), then those two examples show I have material wealth. However to make a paycheck (money), I need a job to do this weekend, or sell something this weekend, or provide a service for someone this weekend. The money I make in turn can buy a car, company stock, etc.(wealth). The moral of the story is wealth is created, and income is earned. The government's bank account in America is 0$! That's right, any time you hear a person say that something is "paid by the government", know that the government has 0$ to pay, and that what actually is happening is "we the people" are paying for that something.