I had a total of 6 credit hours of economics in college. It never ceases to amaze me at how little the average American knows about economics. Whether we talk about a small business or a farm, they underestimate the amount of capital it takes to derive even a modest income. It angers me when people call farmers or small business owners rich just because they have over a million dollars in assets. I would like to know, starting from zero, how much investment in land, equipment, and inputs it would take to have $50,000 in income. I have known business owners who slept in their shops to keep costs down. America needs an education or we will ruin everything we have worked so hard to attain.
@Wrenchen-with-Darren
3 жыл бұрын
I have done the math, and actually did it. 1 million is the answer. Understand some years you only make 40,000 and some 60,000.
@tf7274
3 жыл бұрын
It's easier to marry a rich farmer...my wife did. Totally agree. When I was in my early 20's it was cheaper to buy McDonalds franchise than buy my farm. I'm happy I bought my farm. Now in the family over 100 years.
@Wrenchen-with-Darren
3 жыл бұрын
@@tf7274 I've never met a rich farmer. Although, I hope to be one, when I grow up.
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