Billionaire Says The Rich Are Not Job Creators!

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NickHanauerBy Thom Hartmann. Originally published at ThomHatmann.com

One of our nation’s richest men, billionaire Nick Hanauer, just destroyed the GOP’s economic talking points. In a testimony before the Senate Banking Committee, Hanauer explained why rich people like him are not, in fact, the real job creators. He said, “In the same way that it’s a fact that the sun, not earth, is the center of the solar system, it’s also a fact that the middle class, not rich business people like me, are the center of America’s economy.”

Hanauer talked about a “virtuous cycle,” where middle class consumers have enough money to buy things, which stimulates the economy and creates more jobs. Nick Hanauer was an original investor in Amazon.com, and he founded the company that became Overstock.com. He said that as an investor, he helped start dozens of businesses, but he added, “if no one could have afforded to buy what we had to sell, my businesses would have all failed, and all those jobs would have evaporated.”

During his testimony, Mr. Hanauer called for higher taxes on the wealthy and corporations, and said that money should be used to invest in our middle class. He said, “Prosperity is built from the middle out.” Nick Hanauer understands that we must invest in our nation to get our economy growing again… hopefully, our lawmakers were listening.

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Thom Hartmann is four-time Project Censored-award-winning, New York Times best-selling author. His national daily progressive radio talk show, now in its eight year on the air, replaced Al Franken on the Air America Radio Network, is distributed to radio stations nationwide by Dial-Global, Pacifica, and Free Speech TV. More people listen daily to the Thom Hartmann Program than any other progressive talk show in the nation. His site is ThomHartmann.com.

{Editor Note: Below is the TED talk given by Nick Hanauer.}

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