“In a capitalist economy the true job creators are middle class consumers,” says American venture capitalist Nick Hanauer. Delivering a “TED talk” earlier this year, Hanauer says “taxing the rich to make investments that make the middle class grow and thrive is the single shrewdest thing we can do for the middle class, for the poor, and for the rich.”
Hanauer says the U.S. is unjustly deifying the rich, noting with a smile that it’s not a big “jump from job creator to creator.”
Hanauer is himself among the super rich, but says “rich people like me don’t create jobs.” If tax cuts to the wealthy really did work “today we would be drowning in jobs.”
If the median household income kept pace with the economy since the 1970s, American families would be earning $92,000 per year, not $50,000, he says.
Income distribution is a major factor in the social determinants of health.
TED stands for Technology, Entertainment and Design.
Watch Hanaeur’s TED talk below.