Billionaire Nick Hanauer on the Myth of "Job Creators"

Loved the honesty - when everyone will be willing to face the reasons why we protect and support a system of abuse beyond any rational justification on how resources should be equally distributed to all and will face our own LIES as excuses to exploit those born on the 'wrong' side of this Monopoly game, the world will Change as we change with it, as it.

Most of what he said is true. There are exception. A small growing company having to pay extra taxes can limit it ability to hire. I think the tax deal that was struck between congress and the president for the larger part will not hurt job growth that much.
The bigger problem was that congress gave up a lot of its muscle on cutting spending by passing it.

I am not sure if you believe that companies are charged twice for the same income or not. Care to explain?

Know I said nothing to indicate that they were taxed twice. But we all are actually taxes twice and more. We pay income tax to the federal government and then to the state. Then after that we pay sales tax Property taxes and many hidden taxes. But I said nothing about them. I am not sure what it is at this time but a study in the mid 80’s said that 78% of the money the middle class earns went for taxes.

If they had included raising taxes on smaller companies with incomes of $250,000 they could have harmed growth. They are the really job creators. Having set it at $400,000 dollars well have less damage to job growth. I think for once Pelosi had it right when she said the tax hike should have been set at one million dollars and above.

The middle class and their spending is what drives the economy. Every time that they have had their taxes raised is when the economy has faltered.

78%? Where did you come up with that figure. I find it difficult to believe that I have all I have while making so little money. You are expecting me to believe that on 100K year a person can only spend 22K to live on for the entire year or 500 bucks a week?

What you are not understanding about the 250K scenario is every economist in the world said it would affect less than 1 percent of businesses. Reason? Most small businesses are corporations not sole proprietorships for tax benefits and liabilities.

The 78% came from a study that was conducted on true tax rates that was done in the mid 1980's. No the more money that you make the less of these taxes you pay. The taxes effect what they called the middle class in the 80's and that was on wages that were around 35K. These are hidden taxes. They are the taxes on such as sin taxes and inventory taxes and other taxes that you are aware of such as gasoline taxes, medicare, FICA Sales, Property, ECT.

I understand that they will not pay the higher rate on anything but the portion over 250k at the higher rate and that if they reinvest those dollars in the company they still will not pay at the higher rate. So long as they keep the companies profits below the 250k level they will not have an increase. Should the Company or corporation make let say 300k They would only be paying the higher rate on the 50k regardless of if the are a solely own company or a corporation. Am I wrong?

When Reagan entered office the top marginal tax rate was 70% on income over half a million dollars (for married filing jointly) and there were sixteen brackets. He promptly lowered the top rate to 50% for married couples making over 200,000 and eliminated three brackets. He dropped it again to 38.5% Since then, under Clinton it dropped eventually to 28%.

With 70% tax rates it was possible to get to your 78% but no where near that rate in todays world.

I agree whole heartedly!!! Great post!

excellent post.

No consumers, no market, no reason to produce .... but you cant tell those still clinging to supply side garbage that.

I believe he's got it right!

I have been stating the part about consumers driving jobs for years...

Unfortunately the consumer chooses to drive jobs elsewhere.

but I know nothing about Nick Hanauer.

I picked this up for you on Wikipedia.

After earning his Philosophy degree from the University of Washington, Hanauer got his business start at the family-owned Pacific Coast Feather Company, where he continues to serve as Co-chair and CEO.[2] In the 1980s he co-founded Museum Quality Framing Company, which has become a large West-Coast franchise.[3]

In the 1990s, Hanauer was one of the first investors in Amazon.com (where he served as adviser to the board until 2000). He founded gear.com (which eventually merged with Overstock.com) and Avenue A Media (which in 2007, under the new name aQuantive, was acquired by Microsoft for $6.4 billion).[4]

In 2000, Hanauer co-formed the Seattle-based venture capital company, Second Avenue Partners. The company advises and funds early stage companies such as HouseValues[5] Qliance,[6] and Newsvine.[7]

here is a link for you

http://nick-hanauer.com/

He speaks the truth. Consumers create jobs by driving demand. No company hires workers out of the goodness of their 'heart'. They hire workers when demand warrants it. I am very impressed with this presentation.

THANK YOU FOR POSTING!!!

Some of the TED talks are pretty good. ^_^

Everyone who has played Monopoly knows the economic end game.

Makes sense to me

The guy is full of st*t, but it appeals to the weak minded who feel they should be given a chunk of what the rich have.

If he is so full of it, what do you know for a fact, contained in his speech, is a lie?

i do agree with him on consumer demands grow the economy, but i also agree with some of the comments made.
small business owners end up being taxed twice.
the first time is when the company does its taxes
the second is when the owner does his/ her taxes
he/she are taxed as if they are the companies so employer
more correctly put, as if the business income is there personal income
i know this because i know a lot of people about to go out of business because of it
this trend needs to be stopped

What you are not looking at is the Supreme Court said that businesses were people. If you dont want to be taxed on your business, then remain a sole proprietor where your tax rate is higher because of the fewer deductions associated with that entity.

That was really well done - very simply put, though I see currently there are 6 disagreements on this poll. Right Wingnuts of course. lol

Myth Busted.

the only thing that he can say with confidence is that he's FOS.

No sir... you are full of it.

well. i guess you showed me, economically illiterate lib.

Sorry... it is conservatives who don't know how the economy works... Just read one book on economics and you will see... demand drives the economy. We, the consumer are the demand. If we have money, the economy runs great. If we are broke because of low wages, we have no money to spend so the economy stops like it has now. What part of that don't you understand?

i've read perhaps 3 dozen.

have you ever taken a college econ course?

i'd say clearly not.

demand and supply set prices. we don't have a 'pricist' economy. we have a capitalist economy.

its about capital.

Did you understand anything you read ?

yes. seeing that you've read none, i suppose your question is rhetorical...

How did you see me ? Old saying "Action speaks louder than words " Act like you understand

i see you as ignorant, but still repeating things that you clearly don't understand.

I understand that you don't understand. Here's another old saying " An Educated Fool " Do you know anybody that fits this description?

sure do. you.

it takes a special kind of ignorant to ignore what's going on around you....

today's GDP report doesn't mean anything to you?

It means the same thing to me as it means to you. What cha' gonna do about it ? nothing. The same thing has been going on for years. Everytime we get a GOP president we have a recession. When IKE was president taxes were 90% for the rich. Every since Reagan came with his "voodoo " economic the GOP has had a recession, only when Clinton raised taxes was the budget balance. The only thing cutting taxes has done for this country is to make the rich richer and sent the good jobs oversea. Have you ignored this ?

what am i going to do about it?

arm myself. buy silver. stock up on wood and food.

LOL! does the DNC send you a little extra at the end of the month for repeating their BS?

Arm yourself, ( hee hee ) boy that's gonna help. I know my statement is true and so do you. But you get nothing for telling the truth. What part do you think is B/S

ummm. all of it.

its DNC propaganda.

I can tell you don't do much thinking on your on. You get your facts from FOX and the rest of your information from RUSH cause I see you wouldn't know propaganda if it was running out of your booty

i watch/listen to neither.

care to guess again?

Sorry but I have taken plenty of economics courses in college. Most economists will tell you that Ayn Rand and the Tea Party Crazies are all wrong with their ideas of the economy. And so are you. Again, if there is no demand there is no business. I don't care what the price is, if your customers don't have the money to buy your goods or services, you aren't going to sell anything.