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Switch to Forum Live View Rich guy's TED talk: it is consumers, not rich people, who create jobs.
2 years ago  ::  May 18, 2012 - 4:19AM #1
Kwinters
Posts: 21,955

Nick Hanauer's TED talk


6 important minutes: and if you haven't watched this, don't waste people's time posting nonsense about it.

Jesus had two dads, and he turned out alright.~ Andy Gussert

“Feminism has fought no wars. It has killed no opponents. It has set up no concentration camps, starved no enemies, practiced no cruelties. Its battles have been for education, for the vote, for better working conditions…for safety on the streets…for child care, for social welfare…for rape crisis centers, women’s refuges, reforms in the law.

If someone says, “Oh, I’m not a feminist,” I ask, “Why, what’s your problem?”

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2 years ago  ::  May 18, 2012 - 10:04AM #2
Fodaoson
Posts: 11,156

KW, Good post, and a good TED talk.   In a consumer based economy   a large middle class with some discretionary  spending  money drives a good economy.  During the 1950’s boom times of the American economy the marginal tax rates were higher on the highest incomes (non salary incomes )

“I seldom make the mistake of arguing with people for whose opinions I have no respect.” Edward Gibbon
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2 years ago  ::  May 18, 2012 - 10:21AM #3
Kwinters
Posts: 21,955

May 18, 2012 -- 10:04AM, Fodaoson wrote:


KW, Good post, and a good TED talk.   In a consumer based economy   a large middle class with some discretionary  spending  money drives a good economy.  During the 1950’s boom times of the American economy the marginal tax rates were higher on the highest incomes (non salary incomes )




Yep, as the rich guy notes, increasing the numbers of the superrich will not increase the economy as much as increasing the disposible income of the middle class.  20 rich people cannot consume as much as 200 million Americans.

Jesus had two dads, and he turned out alright.~ Andy Gussert

“Feminism has fought no wars. It has killed no opponents. It has set up no concentration camps, starved no enemies, practiced no cruelties. Its battles have been for education, for the vote, for better working conditions…for safety on the streets…for child care, for social welfare…for rape crisis centers, women’s refuges, reforms in the law.

If someone says, “Oh, I’m not a feminist,” I ask, “Why, what’s your problem?”

Dale Spender
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2 years ago  ::  May 18, 2012 - 10:53AM #4
Unworthyone
Posts: 2,834

It has always been my contention that what businesses need to improve the economy is more customers, not tax breaks.  Giving wealthy business owners cash in the form of tax breaks makes no sense. They are not going to run out and hire more workers simply because they have more cash.   But create customers by giving that cash to the middle class, and they will spend it at the businesses.  If demand for products and services goes up, the business will want to hire more workers to keep up with demand. 


In short, the only reason a business hires workers is because it will increase profits and improve the bottom line.  If the government wants to jump start the economy, reducing taxes on the middle class is the first thing to do.  This will result in more spending by the middle class, which will result in businesses hiring workers, and those workers will provide profit for business and increase tax revenues with their wages.

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http://www.nytimes.com/1991/03/29/opinion/why-i-m-for-the-brady-bill.html
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2 years ago  ::  May 18, 2012 - 11:31AM #5
Jasr
Posts: 11,561

It's not like this is a new concept. Henry Ford figured this out 98 years ago.

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2 years ago  ::  May 18, 2012 - 12:16PM #6
Fodaoson
Posts: 11,156

May 18, 2012 -- 11:31AM, Jasr wrote:


It's not like this is a new concept. Henry Ford figured this out 98 years ago.





 yep

“I seldom make the mistake of arguing with people for whose opinions I have no respect.” Edward Gibbon
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2 years ago  ::  May 18, 2012 - 12:22PM #7
lulu2
Posts: 454

Where does the consumer society go to consume? Oil companies, to get their gas, heat their homes etc? Consumers make people rich, and then it seems to be ok, not to like them, after we made them so?  

Without the Soul of Christ alive in us...we are nothing but empty shells...
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2 years ago  ::  May 18, 2012 - 1:15PM #8
Kwinters
Posts: 21,955

He also points out in an interview with Lawrence McDonnell that hiring people is an employer's LAST resort.


The only time a business hires people is when the demand for their product is so high that it is more profitable to hire someone to meet that demand.


Does that sound like our economy right now??


(Sorry about the ad)


www.msnbc.msn.com/id/45755883/ns/msnbc_t...

Jesus had two dads, and he turned out alright.~ Andy Gussert

“Feminism has fought no wars. It has killed no opponents. It has set up no concentration camps, starved no enemies, practiced no cruelties. Its battles have been for education, for the vote, for better working conditions…for safety on the streets…for child care, for social welfare…for rape crisis centers, women’s refuges, reforms in the law.

If someone says, “Oh, I’m not a feminist,” I ask, “Why, what’s your problem?”

Dale Spender
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2 years ago  ::  May 18, 2012 - 2:56PM #9
Jasr
Posts: 11,561

May 18, 2012 -- 12:22PM, lulu2 wrote:


Where does the consumer society go to consume? Oil companies, to get their gas, heat their homes etc? Consumers make people rich, and then it seems to be ok, not to like them, after we made them so?  





Consumers make some people rich. They make some people well off.


But other people get rich by making risky bets with government backed deposits, and some get rich by moving other people's money around and taking commissions, and some get rich by buying companies, loading them with debt, and eviscerating them. None of the people in these categories create too many jobs. Those are the ones we consumers don't particularly like.

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2 years ago  ::  May 18, 2012 - 4:25PM #10
Druac
Posts: 11,851

I have been saying this ever since Obama started being blamed from the right on jobs. Everyone I know has stopped spending like they used to. EVERYONE. And none of them plan on going back to it. They can't even get the credit from the banks if they wanted to! The days of most of us charging away our lives or using our homes value to borrow and spend against, I would hope, are OVER. I know mine are.


In my honest opinion, anyone that thinks we should or can go back to where we were 5 years ago, doing the same things we did, is just ignoring the realities of the situation...which the right is very fond of doing.

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