Fred is a farmer and he was able to grow 50 kg of various produce. However, due to lack of network and marketing skill, he could not sell his 50 kg of produce off. And the food ended up on his own dining table.
Did Fred create any value? Did Fred earn a profit? Are those 50 kg of produce taxable? Is Fred doing good to the society?
Larry is an artist and he was able to draw many great arts. Similar to Fred, he was not able to sell his work. They ended up lying around his gallery.Did Larry create any value? Did Larry earn a profit? Are the paintings taxable? Is Larry doing good to the society?
Mike is also an artist. However, Mike has very good people skill and was able to sell off many of his paintings at high price.Did Mike create any value? Did Mike earn a profit? Are the paintings taxable? Is Mike doing good to the society?
Dave is another farmer and he was able to grow 50 kg of various produce. He was good at selling, being able to sell off his produce at premium prices.
Did Dave create any value? Did Dave earn a profit? Are those 50 kg of produce taxable? Is Dave doing good to the society?
Joe is a real estate broker. He earns his living by matching buyers with sellers.Did Joe create any value? Did Joe earn a profit? Are Joe's earnings taxable? Is Joe doing good to the society?
Wesley speculates the stock market, buying various shares at lower prices and selling them at higher prices. He earns a decent living this way.Did Wesley create any value? Did Wesley earn a profit? Are Wesley's earnings taxable? Is Wesley doing good to the society?
This is something to think about over the week...
