Author John Bryant: Poor 'Don't Get Credit' for Driving Economy

Monday, 16 Jun 2014 02:08 PM

By Courtney Coren

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink
The poor and lower classes drive the economy and "don't get credit for it," says John Hope Bryant, founder, chairman, and CEO of Operation HOPE.

"People who make $50,000 a year or less, who are half of the U.S. economy, with too much month at the end of their money, I might add, are driving this economy," Bryant told J.D. Hayworth and Miranda Khan on "America's Forum" on Newsmax TV.

"They take 80 to 90 percent of every dollar and put it back into the economy," he explained.

"The poor and the struggling class and the teetering middle class don't get credit for driving the $17 trillion economy, the largest economy in the world," he said Monday.

Story continues below video.



But the point is not that those in the lower classes remain there, Bryant contends.

"Now we need to shift to the demand side, the opportunity side, the ownership side," he said.

Bryant proposes two approaches for dealing with income inequality.

"The first one is we need to create more entrepreneurs, more small-business owners," he explained.

"The other side of that piece, because not everybody can be an entrepreneur — although everybody needs to have an entrepreneurial mindset to succeed in this world — is the pure issue of income," Bryant added.

He does not think the income problem is solved by raising the minimum wage, but rather with "a living wage that's free-market-inspired."

Related Stories:


© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Robert Walker: Obama's Ozone Regs Will 'Choke' Jobs

Wednesday, 26 Nov 2014 09:53 AM

The Obama administration's recent announcement of stricter ozone regulations is further proof that the White House is mo . . .

Bernie Kerik: Ferguson Rioters Couldn't Care Less About Justice

Wednesday, 26 Nov 2014 07:14 AM

The "riotous situation" in Ferguson, Missouri, has hijacked media coverage and diluted the real issue of the grand jury  . . .

New Black Panthers Defend Brown Kin's Call for Violence

Tuesday, 25 Nov 2014 15:02 PM

The New Black Panthers are defending the incendiary cry of Michael Brown's stepfather, who urged Ferguson protesters to  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved