"Rich don't create job" Nick Hanauer

[Bob]

[QUOTE=kilgram;549190]It is a very good TED speech of Nick Hanauer, founder of Amazon.

He gives arguments against the wrong idea that rich are job creators. It is absolutely wrong. Also he explains if this idea was true, today that taxes on rich has been lower than ever in USA. USA should be drowning in job offers. But the only reality, is that riche become richer, nothing else.

The jobs creators are the consumers, and the consumers are the poor and middle class, basically, retroalimenting business and consumers.

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Say, explain that again how it is consumers providing the jobs?

So, what's the hold up?

[Bob]

This economy would hum like a new watch if Obama understood velocity of money.

And he would also know that is how to obtain more revenue to the governments, all over this country.

I shall show you a graph to try to make it clear. But that chart explains why the economy is still down.

M2V_Max_630_378.jpg

[zelmo1234]

Repeating myself...
Trickle down economics creates jobs when the laws and regulations put widget factories on a level playing field with hedge funds. The fact of the matter is that (for the billionaire) the financial sector is the most attractive arena to invest in. Consequently, corporate profits in the finanical sector have increased dramatically in recent decades, to over 30% of overall US corporate profits. This is important partly because investment in the financial sector creates many fewer jobs that investment in manufacturing, or brick-and-mortar retail.

But, Trickle-down economics also requires demand. If markets are saturated, and there's a Starbucks on every corner, why would you invest in building another Starbucks? Again, if you're a billionaire, you invest your money in the financial sector.

Of the really wealthy, only Buffet is a financial sector guy. the rest produce something, creating jobs by the millions. Now just because the government taxation and regulations don't always allow them to create the jobs in this country, is not entirely there fault

[Peter1469]

True, fiance has taken over much of the economy, and they don't produce real (productive) jobs. Still, the poor doesn't create any job. They may makes some jobs necessary, but they don't create them.

[Contrails]

Did anyone consider that no one segment of the economy "creates" jobs, and that it requires activity from people of all income levels? The rich are the ones who collect wealth and direct it into new endeavors that require people's labor. The middle class are the ones who create the wealth that the rich need to invest. The poor are the ultimate consumer in that they spent every dollar they receive.

[nathanbforrest45]

Jobs are created by Left Handed trolls and Lesbian Comanche Indians. Everyone knows that.

[nathanbforrest45]

Jobs are created by the Law of Supply and Demand. However, it is those with money who invest in the means of production that creates that supply.

[Contrails]

Jobs are created by the Law of Supply and Demand. However, it is those with money who invest in the means of production that creates that supply.

And it is those who spend the money they have that creates the demand. Can't have one without the other.

[GrassrootsConservative]

And it is those who spend the money they have that creates the demand. Can't have one without the other.

And money is spent by those that have it.

Is this concept really that hard to grasp?

[Peter1469]

And it is those who spend the money they have that creates the demand. Can't have one without the other.

If you want a new pair of shoes, of a particular brand, that isn't going to create a job. The owner of the brand will react to market pressures and create or destroy jobs.