ALERT! This video is about to go viral...or at least it should.
In less than six minutes, venture capitalist Nick Hanauer does an amazing job of explaining why lowering taxes WON'T create jobs. It is clear, concise, sourced and accessible to nearly all via YouTube.
Most importantly, it completely destroys the right-wing/Republican/Romney line that our country can magically create jobs by lowering taxes on the wealthy.
Hanauer, who is one of the first non-family investors in Amazon.com, made the argument at the TED (Technology, Entertainment and Design) Conference in Long Beach, California, in March.
His speech, deemed by some to be "too political," was not released until yesterday (click here to read the transcript).
The multimillionaire points out that it's not the 1% who create jobs, but the CONSUMER:
"We've had it backwards for the last 30 years. Rich people like me don't create jobs. Jobs are a consequence of an eco-systemic feedback loop between customers and business and when the middle class thrives, businesses grow and hire, and owners profit. That's why taxing the rich to pay for investments that benefit all is such a fantastic deal for the middle class and the rich."
When you're watching the video (at 2:04) you'll notice Nick uses the same income disparity chart (or the "vulture" chart), that Ed uses a lot in the show.

Nick will be Ed's guest tonight on The Ed Show at 8pET on MSNBC!



Then I guess this really ticks me off about the Obama team and Solyndra. If Obama knew that venture capital didn't create jobs, then why did he ever authorize half a billion bucks to that cause? Just to appease one of his chief fund raising bundlers?
hmmm 500 million or billions over the decades in oil subsidies........I think I'm smelling fake outrage.
GOP says rich are job creators and that isn't true so it's obama's fault
Rusty,
Do you know George Bush signed the Energy Policy Act of 2005 into law and that part of the purpose of the Energy Policy Act of 2005 was to provide funding for developing new energy technologies?
Do you know that Bush tried to push thru the Solyndra loans before leaving office?
The Obama administration wanted to and did look into the loans more before committing. If the Chinese govt. subsidized solar panel industry hadn't dumped unrealistically cheap panels on the market Solyndra probably would still be in business.
cc- you'd be correct. Just making the point about how asinine the entire premise is.
Fore- lol- gotta love the thought process of liberals. Let's take you concepts at face value and not argue over a couple of your oversights. 1) it would be natural for a conservative President to think that capital structure would be helpful in creating jobs. 2) liberals on here are seemingly making the point that capital is irrelevant- only consumers. 3) You make the point that Bush created the capital infusion process. Now- this would indeed be consistent with beliefs as in 1). Finally, 4) Obama must also reject the entire premise Ed has laid out in this blog- capital being irrelevant and consumers driving the bus.
Do you agree with Ed? And if so- would you join in repudiating Obama ove this loan on the basis that it was wrongheaded? Or do you agree with Bush, that capital formation was important, and with Obama because he obviously didn't uy into Ed's goofy concept? Meaning you disagree with Ed.
Rusty- what are you talking about, are you trying to make a connection between government subsidies and venture capitalists? The Chinese government is heavily subsidising the solar panel industry, so by your way of thinking the U.S should just pack it in and give the solar panel industry to China. Your whole premise is off, your what the educated call an idiots idea of a smart guy.
maybe you should also ask why over 7 billion has been funneled off to Lockheed during the bush presidency to establish a virtual fence at th emexican border that to date has never worked and they are still asking for more money......
RCB- no- you are not reading the premise. This has nothing to do with whether Solyndra failed, and whether the Chinese subsidizing their industries caused it, etc. Whole different argument.
This is about whether capitalization can create jobs. Ed's article says capitalization doesn't create jobs- only the consumer does. The funny argument by fore that Obama was merely mimicking Bush (funny in several ways) goes to show that Bush was a believer in capital formation. Therefore- Obama, either because he followed the same path as Bush, or if you choose to believe that he was the opposite as Bush in every way, but for some reason he chose the same investment, would suggest Obama rejects Ed's article's premise.
To the entity getting the capital, green is green. Doesn't really matter if it is privately placed or from the government. The question is whether Obama, or even whether you, believe capital is important to the formation of jobs. Ed's article says it isn't. If you concur- then you should be peeved at both Bush and Obama for making investments of capital.
Goose- Are you spoofing liberals? If so- then I understand your point. You are sort of making the point that Bush is following Ed's article. Your example shows Bush as a consumer, making large purchases (vs supplying capital) and thus creating jobs. If you're a liberal trying to make Bush look bad- then I just have to laugh because the actions you describe are the actions Ed would seemingly advocate.
I am always shocked by people's refusal to hear the facts. Especially when they are articulated so clearly and intelligently by a "venture capitalist" just trying to be honest. Hate to say it, but it starts to sound like racism. And, I know that intelligent, well educated, people could never miss something so blatantly obvious. That is, unless the value of money has become more important to them than the value of people. I can only speak for Christians because it is my faith, but Christians certainly have a different set of moral priorities. God Bless.
Rust
It seems like whenever someone clearly states some facts that prove your argument is wrong you try to change the argument.
President Obama wanted to fund Solyndra to further the alternative energy technology. He was right to do that because that is one of the reasons the Energy Policy Act of 2005 was enacted. Part of the Energy Policy Act of 2005 clearly states that it was intended for funding technology that would be too high a risk for the typical private investor.
fore,
and did you know that in the 2005 energy policy that bush signed into law, is the "halliburton loophole"?
karl rove told the natural gas industry leaders in pittsburgh in dec. of 2010 that the newly elected gop house would make sure that the EPA will not be able to regulate fracking, and would assure that the halliburton loophole stays open.
fracking is not subject to the restrictions of the Safe Water Act, and we know that fracking has tainted/poisoned well water in areas where this procedure is done, also responsible for earthquakes.
remember the video where running water is lit on fire?
OK Fore- back to the basics. Forget about how the law came into being, or who initiated it, or who finalized it.
My question to you is: Do you think giving funding to a startup company with a good concept is a way to go about creating jobs?
Well after 34 years and counting the republicans said tax cuts created jobs so we should be up to our necks in jobs where are they. Always whine about the other guy yet the guys you support have done even worse.
rusty,
are you saying that GWB and the repub party has never done what you propose in your question above?
or are you saying that if repubs do it, it must be OK, because repubs have done the very same thing they accuse the President of doing. this is just another example of a repub calling a democrat out for the very things they do themselves,
giving money to a "startup" company might not be THE way, but it is A way.
As I've already said "President Obama wanted to fund Solyndra to further the alternative energy technology." No doubt putting people to work is a huge and valuable plus for the project.
suzette,
It does seem like they just can't pass good legislation without some nitwit mucking it up with crap like the "halliburton loophole".
Rusty,
To your specific question.
My question to you is: Do you think giving funding to a startup company with a good concept is a way to go about creating jobs?
Yes, don't you? Everything isn't black or white.
As a result of the loan guarantees it's my understanding that the country now owns the Solyndra technology for non-silicon based solar panels.
Bottom line ... without a prosperous middle class there won't be demand to fuel the supply lines. If we keep funneling money to the rich they'll just horde it. They've already bought what they want.
Thank you, fore. I also agree with that premise. You seem to indicate that everyone should believe that. I, as well, am dumbfounded that Ed and his guest are claiming the opposite. That capital has nothing to do with creating jobs, just consumers. Once again- Ed is just being goofy, but I'm glad that others are seeing it that way as well.
Suzette- I'm sayig the opposite of what you are saying I'm saying. I'm saying the Republicans are for adding capital into the system. Also- the presumptive nominee for the GOP this year has made quite a living doing just such. I think most thinking people would agree with that if they would just think about it and get past the rhetoric, and I would expect you would not be the person who would call Republicans out for taking that stance. About the only people who seem to disagree are Ed, his guest, and the members of the 99% club.
The difference is republicans think they can keep funneling money to the wealthy and stepping on the middle-class. Without a strong middle-class there will be no recovery. The division of wealth in the country will continue to go to the already wealthy. Political power will continue to go to the corporate rich. Our democracy is quickly fade away. Ed's guest is 90% correct.
No- actually Republicans don't think that way at all. It makes for great rhetoric for people to listen to and repeat. We have Rush on our side who is god at creating that, and Ed and others on the Left do the same. No real fact, but it is a marketing point.
Now- if Ed's guest is 90% correct, then shouldn't Obama have abstained from investing $500M into Solyndra and spent the $500M buying solar stuff from them? Then Obama would have been 90% correct instead of 10% correct?
As far as Solyndra is concerned you keep forgetting the investment in developing alternative energy technology. Buying $500m worth of panels is nowhere near as valuable to a start-up as the investment in the company itself.
As far as the republican agenda is concerned we'll never agree. I see you as totally duped by the idea that trickle down economics actually works. Unless you're very wealthy republicans will do nothing for you.
Investment is apart of it there is no number you can apply but the backbone is consumer spending. You can't just blame Obama for indulging the trickle down investment economic messages the GOP demands.
But this not about invesment this about tax policy the guest never claimed investment doesn't have a place in the economy just that the money the average consumer invests by buying things is more necessary than a rich person investing in a some economic venture. The bottom line is consumers, the middle class, are primarily responsible for economic growth if there is not policy to give them the income to do that than no other parts of the economic cycle can operate and add to the market.
The congress should be fighting for keeping the middle clas taxes low at all costs instead of not willing to humor any slight increase on the rich. The GOP whether they like it or not have painted themselves into a corner on various issues like the payroll tax that they will entertain raising taxes on anyone who is not rich. It should be the other way around.
fore- Let me type slower. My point is capitalization is important. First, you disagreed, then agreed, then said the premise that it's 90% consumer and only 10% capitalization. So, I asked why Obama didn't just buy $500M instead of capitalizing them. You respond then that capitalization (investment) is so much more important than just buying the product.
You are talking yourself al around in circles, trying to defend Obama and trying to defend Ed's theory, and they are on opposite ends of the spectrum. Which was my point- Liberals can't have it both ways. What is it? Consumers buying the stuff or the investment in the technology? You've flipped flopped more than liberals accuse Romney. Ed's clear that investment isn't imporatant, only consumers. You sound part Republican (when you talk of how important investment is), then you sound liberal in suggesting capital investment is maybe only 10%.
CC- liberals like to point to Bill Clinton balancing the budget. He raised taxes significantly on the lower and middle class- in fact, google Al Gore and Social Security vote. He cast the deciding vote to raise taxes on recipients. In your opinion, should liberals brag about Clinton while at the same time spouse your position that taxes can't be aised on said income levels? Isn't that a little inconsistent? Clinton also reduced the capital gains tax, thereby actualy increasing the level of revenue brought in by investment gains.
I've often said I support Clintonesque moves- increasing revenues by using fre trade agreements, lower capital gains taxes, increased payroll taxes, reduced welfare expenses, etc. If liberals brag about Clinton's results, shouldn't they also espouse his methods? I've yet to figure out why conservatives didn't like his economics. Some of his other policies- I understand- but his economic were well founded.
Now- you can also answer, if you believe in the consumption factor being more significant than investment- why didn't Obama just buy $500m of solyndra products? At least, the government would have had something more than a bag of worthless IOUs? What matters where the purchase comes from (consumer or government)? According to Ed- Obama blew this one (Ed hasn't admitted this- just his story would demand that explanation). Just above- fore is getting so confused he is trying to argue both sides of the equation and doesn't even realize it. He just knows he is suppose to support anything Obama did and anything that is on the Ed show.
Balancing the budget and a healthy economy don't have as much to do with one another as anybody wants to pretend a balanced budget does not lead to a vibrant economy their related but their isn't casualality. I'm not a liberal so I don't liberal say about Clinton. Remember under Clinton everyone's rates were higher the GOP says only the middle classes rates can be allowed to go higher. They will not entertain that argument in refference to the rich. This may lead to a better budget but not the kind of economy we want, it's not a sustainable arc.
So rates were higher for everyone. The GOP wants rates lower for high brackets and higher for low brackets. So they're not quite using "his" methods.
Solyndra is an unimportant and the answer was something I previously addressed. I thought I made clear that investment has a role but that without consumer spending that role becomes increasinly meaningless. I have no desire or intention to defend Obama or anyone else for Solyndra or all subsidies since well everyone is responsible. Both sides.
500 million dollars is also less than a single penny of government spending. Solyndra was a waste would it have made much of a difference if it hadn't happend? Hell no.
Obama has failed on many things civil liberties are one such failure. The GOP is also on that particular issue wanting to keep and defend the patriot act. So Obama doesn't have the guts to pull it but does he is responsble entirely? No plenty of blame to go around.
Rusty
You persist in trying to to make this a black and white issue with no middle ground. Your question asked if providing funding was a way of creating jobs.
So it is a way. I suspect you don't believe the funding should come from the government.
You say I'm talking in circles, but that's because you only think it has to be one or the other. That's not how things are in the real world.
I'm a very old fashioned liberal. I don't like the 2 party system. Right now I feel a need to get involved because the republicans are destroying democracy.
Actually, CC- the Republicans are against raising taxes on anyone. BTW, I'm not defending that position, and I don't agree with it. Just clarifying what their position is. My position is- as a society, figure out what is important to us. Then, make sure your revenue stream supports what you decide is necessary. Further- everyone pays into this revenue stream. If everyone pays in, then the demands of what is provided tend to be less. Economics is the study of how to supply unlimited needs with limited resources. The more transference and deltas betwen what you pay for and what you get means that more is demanded by some. If we want nationalized health care, then figure out what it is going to cost, divide the total commerce stream into it, and if it is 15 cents per every dollar spent, then have a sales tax of 15%. Adjust that up or down as cost go up or down, anually. If every time anyone buys something, they realize they are paying for health care, it tends to limit the needs for health care, and causes people to be better consumers (doctors office versus emergency room, etc). It could also mean peope would do more logical preventative care (now- some are all in on everything, and some do zero- both extremes can be very costly. The other benefit of this type of revenue is that it doesn't penalize manufacturing by forcing them to provide health care, when manufacturers who are either located off-shore don't have the same costs. In this way, if someone imports goods, when they get sold, it funds health care. When we manufacture something on-shore, then it can be sold abroad without the health care costs absorbed. Think of the advantage that would give companies to manufacture within the 50 states. But- that solution would be shot down by both parties. The Democrats because of their dieing need to make businesses pay and to punish anyone wanting to make a profit, and the Rpublicans because, well, they would figure out some reason to not like it.
Fore- Please get involved, but the Republicans are not destroying Democracy any more than the Democrats are. Lines like that are only used to sell airtime by blowhards on either side of the spectrum.
Rusty " but the Republicans are not destroying Democracy any more than the Democrats are"
You can easily go back thru the years and time when democrats were "destroying democracy". Like when the southern white democrats fought against civil rights. Even today many on both parties are doing the bidding of lobbyists.
But, at this point in time republican appointees to the supreme court have inflicted upon us the citizens united decision. That is a serious blow to democracy. Then of course there's ALEC's republican agenda driven laws. Legislation fed to republican lackeys in state legislatures from ALEC and not from the citizens of the states is simply not democratic.
I'm not saying the democrats have everything right. I'm saying the republican agenda is seriously damaging our democracy.
Like wtf? The Norquist pledge? Now those pledgers are afraid to break that pledge because not only will they lose Norquist's support, Norquist has sworn he will see them defeated. It's like they made a deal with a crime boss.
Yeah- there are a lot of negatives going on. People on the opposite end of the spectrum would point to ACORN and other groups like that as well. They would point to Supreme Court decisions that moved social policy far left.
But- it is not the intent of either side to destroy Democracy. CC is correct in pointing out things like the Patriot Act. Passed under Bush, liberals hated it and swore it was going to destroy democracy. Then, Obama pushed to get it extended.
I am convinced that the biggest threat to democracy would occur when the majority would feel as if they deserve more, and that they should get it at the behest of the minority. It's why I say above- decide what you want as a society, then figure out a way to have everyone pay for it. I may not like what happened with the co-founder of Facebook any more that you do- but if we decide the the rich should pay for everything, we will find ourselves without any rich.
And that is why we have a progressive rate tax system. This is not about punishing the rich this is about dispelling the myth that they primarily fuel job creation.
Also even if the rich did pay for everything although no one wants that the rich would still be the wealthiest in society at least for a time.....
Nah- all you have to do is read a little bit on these liberal based blogs or listen to Ed for a short period. There is no interpretation possible except that the liberals want to punish the rich. The hatred is venomous and transparent. They have a need for retribution- how dare they invent something / do something special / etc and get rich? Your last sentence is equally wrong- Again- watch this show or listen to Ed. They do want the rich to pay for everything.
I seriously think that your average liberal believes that if only they would adopt the Buffett rule- our budgets would be balanced and sunny skies would be here again.
Whine whine whine...Why did George W Bush have two unfunded wars and WHY isn't he and Dick Cheney in jail for war crimes.
http://unitedrepublic.org/mccain-whitehouse/?akid=114.136857.sP5NRO&rd=1&t=1
Turn the Supreme Court ruling around NOW!
I LOVED Hanauer - he explained the solution in terms even I could understand - it was kind of like my college economics class. I especially liked the part where he said that he only had three cars! My god, only three? Romney will never listen to him!
Is anyone naive enough to believe that John Boehner, Paul Ryan and Mitt Romney weren't well aware of this fact? Of course the wealthy don't create jobs, the wealthy INVEST.
My father was a Republican and a businessman. He'd be the first to tell you that he never hired five people when he could get by well with three or four! That's common sense, the less employees you have to pay, the more profitable your business; the more money you make. The wealthy people know all about this and they didn't get wealthy by over-hiring!
I hope this video goes viral everywhere. People need to wake up to the truth. The Republicans don't want to raise taxes on the rich because, guess what: That's them! The lying blackguards are preying on the ignorance of the American people with their "Job creators" B.S.!!! They have no shame and are the most self serving bunch that this country has ever seen.
Get them the hell OUT!
Raise taxes on the wealthy. Make them pay 45%. No loopholes.
Keep in our president who is fighting to restore the middle class before it is too late.
Nick Hanauer spilled the beans and it was great. It has never been about the job creators for Romney for sure . It was do what ever it takes and to him and Bain go the spoils. The trickle down could not work when they shut the tap off . I see an add there runnning on what day 1 would look like under Romney presidency. His first thing is Key stone Pipeline. Hey people who do theses spoils go to the wealthy and the oil company's. Romney again would open the flood gates to the wealthy to plunder this country . Hes consumed with making wealth and be damned the rest of us!
under obama there has been actually fewer regs and FYI those regs have been in place since reagan and if I remebre right we did pretty good under those same regs during the Clinton years......your angst against regs is really unfounded....the only regs that have been created are the ones that have protected us from credit company abuse and to hopefully stop what just happened at JP morgan,,,
LOL first its there are to many then its there isn't to many they are just bad. Then to make his point he talks about fracking that has been proven to be dangerous, but gosh darn it who needs water why we have bottled water we can buy.
if we're all dead or sick, what good is oil?
see my post #1.9 above.
Suzette, That is Obama's point and that is why we have the EPA which Romney and the rest want to dismantle.
I live near Marcellus Shale and we've always had to use filters on our water. For one thing, I've used filters for years as GWB refused to remove the arsenic from America's water. YES, it is true. It has only recently been removed, but I'd have to look up who did it and when.
Most city water is unsafe for you and your children to drink. How sad is that. They sit on their asses in congress instead of allocating money for safe, good water. How much are the bottled water lobbyists paying them for this?
Vote all of them out. They're ruining the country.
When I was a kid you could drink the damn creek water that ran by the golf course! I never thought I'd see the day when you had to buy bottled water or put filters on your sink. There's NO EXCUSE for this!! Our country is being run by a bunch of shameless whores. It makes me so angry I could spit.
Here's some info about the water, but I can't find out which president had it removed.
http://water.epa.gov/lawsregs/rulesregs/sdwa/arsenic/index.cfm
I'll keep trying. If someone knows, fire away!
What I find to be so interesting here is that people don't realize this even the we have a monopoly on business experience republicans since it's really common sense. Why do hire people not for fun and good times. You hire because you need to. Businesses are out to create good or happiness they want money they'll hire no workers if they can get away with it.
It's just shocking that people can't realize this very obvious concept. Our education system is clearing failing more than we may have previously imagined.
It is because Reagan claimed that the economy worked best with a service economy instead of an industrial economy, he believed many workers working low wage service jobs could create a stronger economy then living wage industrial jobs in the belief their were less high wage jobs due to the auto industries problems of the 70's and 80's of CEO's building large vehicles they couldn't sell and the crappy small cars that the big 3 started making when the demand for small cars was high which caused the big 3 to start laying off workers. Then to add to the problem Reagan weakened the Unions power which allowed the big 3 to start closing factories and out sourcing production parts they used to make themselves, which created even more laid off workers. The unions had been staving off out sourcing since 1970 when the steel mills started running into a problem with trade tariffs were taken off cheap Japanese steel, which is why cars made in 69,70 and 71 had problems with rusting out often before the warranty ran out.
Anyhow Reagans "supply side economics" said that with people working on low wages could get credit to buy things they wanted. What Reagans economists never factored in was what happens when the credit dried up, if you trace the market crashes in 84, 92 and 2008 you can clearly see how credit is tied to the economy. There are a few tea bagging republicans who insist that Reagans economic policies work but they also fail to admit that credit lines are needed to make it work. Not an easy thing to explain with a short post.
Right and then there is reality. NAFTA was going to be the law of the land weather Clinton signed it or not, Clinton used NAFTA to get something he wanted or thought he was going to get. No long longshoreman were not happy with NAFTA because it had nothing to do with sea shipping, Shipping would be done over land not by sea. Why would anyone ship goods to Canada and Mexico by sea when it was cheaper to do it with trucks and the rail. Clinton believed NAFTA would open the borders to US exports, not Factories or jobs.
And lets quit blameing NAFTA. North American Free Trade Agreement. Whendid China become part of NORTH America?
Lets not forget the original author of Nafta was Bush sr. He actually signed it before he left office. It was ratified by the house and senate with more republicans voting for it than democrats.Clinton came in and made a few changes before signing it into law.
Absolutely I give Clinton credit for NAFTA and China, and I give Obama credit for the Columbia, Panama and South Korea. I'm don't blindly give credit to any Republican idea and blindly blame Democrats for everything.
The trade agreements have been very possitive. I just read in this morning's newspaper that Exports from Illinois reached record levels in the first quarter. Export driven jobs tend to pay more as well. Democrats would be well served to take credit for these agreements and stop rationalizing them as being creaqted by Republicans and only signed by Democrats.
Definition: Most Favored Nation status is when a country enjoys all the lowered tariffs and reductions of trade barriers. It is conferred between two or more countries that have a trade agreement. All members of the World Trade Organization (WTO) receive the Most Favored Nation Status. This means they all receive the same trade benefits as all other members. This is critically important for smaller members, because it lowers the cost of their exports and makes them more competitive. This, in turn, increases their exports and their country's economic growth.
http://useconomy.about.com/od/glossary/g/Favored_Nation.htm
Tisk tisk tisk slacker whining about something you have no clue on what it means. So slacker when is mom and dad moving in with you so they can give back their government handout. Just think slacker you could start a trend that will stop wasteful government spending.
The various trade agreements the US has entered into have been great for the countries that are not us. These trade agreements suck and most republicans will tell you that as well.
Unless it is the trade agreements that out source jobs that is then they find all kinds of excuses why it should be allowed.
CC- this is one of those times we will just have to disagree. I work in an industry that heavily exports. 90% at times from our factory goes on a boat, to Mexico or Canada.
A year ago- a customer in Columbia would have paid a 30% premium to buy from us- now we are the favored supplier. We're talking many thousands of well paying jobs. Take a trip to our ports. You'll see lots of high priced stuff being shipped out, and lots of cheap trinkets being shipped in. I'd rather ship out jet planes, farm tractors, earth moving and mining equipment and let them continue to supply us with t-shirts and socks and dollar store tools and toys.
So you are basing everything on 1 company and what they did. The problem is no other country consumes as much as the US and that makes exporting limited unless it is a commodity like oil. Also unlike the US other countries protect their businesses with tariffs. But hey that is to complex for a conservative mind to understand because they are still under the belief that its still 1950 and the US is still exporting like it was in the 1950's. Funny how when a wealthy vulture capitalists tells it the way it is instead of refuting him with fact the right always goes with trying to discredit the person.
Whomitmay, I have always believed Clinton was one of our better Republican presidents.
I never liked him. I actually like him as an ex-president, though. He does a lot of good now. His record was really leaning to the right when he was in office.
Plus, he desecrated our house and hurt his wife and daughter and totally embarrassed the American people. That was beyond low life behavior. I mean, I could give it a name...but I don't want to be banned.
Well actually Clinton really didn't desecrate the white house, GWB had a gay hooker going into the white house after hours. If the white house could talk we would the US would be shocked at what has went on behind the closed doors of the white house.
He is absolutely right, the consumer drives the economy. You also need a solid manufacturing base and a high volume need for goods that they provide. We saw what happened when greedy corporations moved out of the country and overseas. They couldn't be satisfied with a good profit, they had to have EXCESSIVE profits. And now we're paying the price for that greed. If people don't change their mindset that they have to be rich beyond belief and want to keep it all for themselves instead of being willing to help keep this country afloat, we are doomed to fail.
Thank Reagan for that it was one of the new ways to tax children. As far as the rest of your nonsense those red tape things you mention is what keeps the food service industry from feeding stray animals to their customers as beef.
That isn't how government works don't know much about government do you. Here is a clue the president does not make laws or passes bills that is what congress does. I suggest you go to youtube type in school house rock and watch the videos so you have a 3rd grade level of understanding how the government works.
No you are abusing yourself seems to be a bad habit you tea bagging republicans picked up. So slacker whens mom and dad moving in so they don't have to live on a government handout. After all it is your responsibility to take care of parents and relatives when the government won't.
If those companies who are doing well would give the workers a bump in pay it would help the economy and be patriotic too!
Makeum PAY!
http://www.gopetition.com/petitions/protest-facebook-co-founder-eduardo-saverin-s-tax-dodge.html
Done deal..
If Hannity and Mr. 999 want to bring up religion then we should look at Mitts affiliation with the Mormon religion? However, I thought there was suppose to be a separation between church and state.
Mr. Ed,
Sir, I could hug you, and your msnbc compadre, Mr. Lawrence.
Y'all are two Thinking (and Feeling) Truth-Sekkers and Truth-Sayers, who have found yet another Truth-Sayer to Speak the "plain spoken" Truth of foundational Economic Energies and Systemic Functions.
Y'all are wonderful, and so is Mr. Nick !
Thank you !
The republicans want ALL the wealth to go to them and nothing to the rest of us. Thats why if they had the power to give zero taxes to the rich they'd do in a second. Also they will never pay your average worker the higher wages that inflation has taken away from them. More money in the pockets of the consumer will equate to more spending; more spending equates to more business growth.
The top richest people are Democrats
Where did you get that bit of info from? Or did you just pluck it out of thin air like most Repubs?
You actually have to ask that?
And exactly what does that have to do with anything? It just shows you righties are wrong about Liberals being lazy and just wanting handouts.
I wasn't talking to you little Larry. I was responding to Eduardo saying all the Rep want the money for themselves.
Well actually you tea bagging republicans want all the government handouts for yourselves all others must meet with your approval for their government handout.
Actually, Larry- that in no way proves what you are saying. It doesn't prove the original assertation, and if it were to be true, then it doesn't prove it.
How do you folks come up with theories like that, then get a bunch of non-thinking followers to agree?
Ah no that is the GOP policy and has been since Reagan first started using peoples bigotry to get GOP elected.
Did you see Ed cut off Nick Hanaure (TED) Ed cuts in and says REFRESHING and Nick looks totally surprised. Ed does this and I don't like it. Let the guy talk Ed just because he said it's NOT small business that crates jobs, He gets the ax... Eds says REFRESHING whenever he's gonna cut someone off! I am gonna watch the replay. Poopoo Ed.
I agree
xxx ooo~ They don't just do these shows ad lib. They have a schedule they have to keep that is timed down to the second. I'm sure Ed would liked to have heard what the guy had to say, but someone is standing there making motions to wrap it up. So he has to stop the guest.
Ed doesn't like surprises or unexpected segways.
Watched again.....
I guess he really wanted to say something more just ran out of time, But Ed didn't like hearing he misunderstood,Ed does have a BIG head! Just the way he is it his show and he's boss. Poo poo.
And we get the tea bagger who hasn't a clue how TV works but gosh darn it he heard about editing he just doesn't know you can't edit a live show.
Nick Hanauer for president! Or maybe emperor!
Taxing the rich is not going to do much because Greed has gotten out of control. They like their cake too much right now. They will just cut their employees wages and/or not hire as many employees forcing current ones to do more with less. All so they can maintain their income. They will just give themselves bigger raises to off set the taxes.
On the other hand if EVERYONE that actually pays taxes would trust the Government with more money it would not be such an issue.
The other portion is the WORKING individuals in the country are sick of seeing their taxes go to many many people who, no matter what, will not work and collect their monthly checks.
I am a republican and the way it is set up, I would like to see cuts in taxes to Companies and Corporations to TRY to keep them in the states....but HIGHER Taxes on wages and income over $1,000,000 (including Capital Gains)
And you have no sense of reality. We keep hearing you tea bagging republicans saying these doom and gloom BS events that have never happened. Yeah $3 dollars a year in taxes is just going to be a hardship the wealthy can't endure. $3 dollars a year is going to cause all that doom and gloom.
$3.............HUH?
Hmm, I wonder why repubs always try to tell us companies are going to leave because of taxes. What a joke. If some company left the number one economy with all of it's tax loopholes the CEO should be fired.
If the country moves closer to what California has done, that is what will happen.
And we get the usual nonsense comparisons.
California does have an immigration problem, and all those people on food stamps working part time at Staples and Sports Authority why don't they get another job and get off the government payroll???
xxx ooo they are a lot of people now work full time and are on food stamps. When people don't have the money what else can they do. And some of these people do have a second job and still not enough money.
See what I mean Polovs dogs, they hear tax increase on the wealthy and right away they start drooling and foaming at the mouth that the government is robbing the rich when reality is its just a few dollars to the wealthy who throw away more then the tax increase will cost.
You're not going to believe this. For the first time in months, I clicked open whom's entry. I've had him on ignore because everything he said over a significant period of time was a combination of idiotic, unrelated, and basically non-value added to any discussion. Like the guy at the end of the bar that jumps up periodically and yells, "Tadpoles is the winner!". Anyway, I click it open just to see if he has taken any smart pills. No so, I am afraid. Still goofy- now wondering about Polovs dogs. Wonder what kid of dogs Polov had?
Back to "IGNORE"
Poor little rusty once again king of projection. Here is a clue rusty when you get done posting read your post and tell me that it isn't just rewrote Fox news reports.
Watching Ezra Klein NOOOOOoooooo.........Rachel!!!
I'm sure that the food stamp recipients prefer the $1.40 a day that they receive than to have a real job. Wow! Why didn't I think of it sooner?
And you are fact free. Prisoners can keep their 45k's, what did a over worked government employee over look that 1 person didn't get cut off when he was in jail and you make up that the whole state prison population is getting what that 1 person got. Gee you seem to not to know much must be watching Fox news.
Right the GOP way of running government give away all the money in tax cuts and start spending on borrowed money, has been the GOP policy since 1980.
Ed, Thank you so much for having Nick on your show last night. It was refreshing to hear from a venture capitalist that gets it. Without customers a business cannot grow and that we, the consumers, are the job creators. The problem seems to be that many MBA programs emphasize profit but do not include consumers in their equations. This further the idea that without growing revenue on the federal level, we will not solve our deficit challenges. Liberals and progressives are able to think logically and rationally while the extreme conservatives base their decisions on emotions. To me, this is the key to the divide between both parties. Hopefully in the near future, we can begin to find common ground so we as a nation can continue on the path set forth by our forefathers.
We need more investments in the solar industry. Germany has a vibrant solar panel industry that employs over 250,000 people. The German government also has large numbers of wind farms in the North Sea. Germany is currently getting about 17% of its electrical power from solar and wind. By 2020 the Germans will produce nearly 30% of its electrical power from solar and wind sources. The Germans are also making a smart grid that runs from the North Sea wind farms through the industrial Ruhr and down to Bavarian cities like Munich. The German government has strong long term subsidies that guarantee electric prices for energy produced by solar panels. Germans are putting up solar panels on buildings and along the autobahn because banks love to loan money for new solar panel projects.
Most of the German solar panel companies were originally American solar panel companies that left America for Germany when President Reagan tore down the solar panels that President Carter put up. What is going on in Germany today could be happening here in America today except for ignorant Republicans that do not believe in global warming or in the promise of renewable energy. The world is at peak oil production or soon will be this decade. This leaves about 30 years supply of oil. The BRIC countries are rapidly industrializing with middle classes with disposable income. The BRIC countries soon will be demanding at least a hundred million cars just in China alone. So oil prices could well be $200 per barrel in coming years. This translates into at least $8 to $10 per gallon. These won't be temporary price spikes either but permanent price increases. Republicans scoff at Solyndra but we need to go right back and invest several billion dollars into another solar panel company. The Chinese were dumping solar panels anyway which is why President Obama is going to be putting a tariff on solar panels very soon.
If the United States is ever going to remain a strong relevant country in the 21st century global economy we must have a very strong emphasis on renewable energy sources. We need to look at Germany to see what is possible. German conservatives push renewable energy like solar, wind, and smart grid connections because they have designed a system whereby the profits in the private economy help sustain the renewable energy industry. Fossil fuels are finite, warm the earth, and need to be reduced and eventually eliminated. This replacement process will take at least a generation. We need to stop subsidizing oil and gas companies that have been subsidized for 100 years and are mature industries that do not need anymore subsidies. Conservatives in America are "flat earth" people. Like country singer Pam Tillis used say that "denial" is not just a river in Egypt, its the conservative movement in America.
Rex- not for sure what your thoughts are concerning Ed's premise? If you are advocating investment in Solar, then you are opposite what Ed is suggesting. His, and his guests, point, is it is consumers who do the good things for the job markets, and no jobs or opportunities are created by investments.
A lie made up in rustys own mind yet again after CC laid it out for him, but typical rusty tactic back off wait a few posts then repeat what he just got his head delivered on.
Ed I have to say I watch you every day along with all your other anchors shows and Faux and cnn I fact check all thats said on all of them funny how faux results always come back as fiction or untrue or false, but last nights segment with Mr Hanauer was one of your best you must have him on again he laid it out there in simple easy to understand language that even the lame could understand and is spot on with what caused the problem and the solution to the problem the right will never get it their base is mislead by their trumped up figures and ideology, its a funny thing about stats you can get them to say anything depending on what variables you input into the equation its not til you put all the varibles into an equation does the truth pop out..A warning to the right your being hoodwinked again by your leaders and the right wing media spewing deceit to rile you up do your own research dont depend on any media source to tell you anything and just believe it as the truth, hear their views then investigate and the truth will jump out at you,thats 1 reason you have a computer use it..
There is a continuous argument about whether investment or consumption drives the economy thus creating jobs and Mr. Hanauer's remarks are a welcome addition to the side of the debate supporting consumption as the driver of the economy. Two points, first, if someone invested all the capital on the planet on products and no one bought them, the economy stops. If no one invested one dime in cash we would still grow our own food, trade tubers and rebuild what was left of the world, with the investment of some labor, not money, as in the beginnig. Second, the huge point the right wing economists (who seem more interested in a low tax rate for the uber wealthy versus what actually works for the entire population) continue to miss is that someone like Mr. Hanauer makes his investment money by creating a product people want then selling it at a profit, thus creating more cash that he can then further invest. This is the old fashioned model for making money and creating investment capital, unlike Romney's Bain Capital which is just a money shuffleing outfit which, on it's own doesn't create jobs. The companies he loans money to may or may not create jobs, depending on their success, but whatever product those companies sell would be provided by someone or consumers would spend their money on something else, so all Mittens is doing for his money is taking a huge piece of the pie with a tiny bit of the effort. This type of income, once known as "unearned", a term that should be brought back into the fray, was historically taxed at a higher rate than "earned" income, because, as the greatest tax cutter of all time, Andrew Mellon, famously wrote,
"The fairness of taxing more lightly income from wages, salaries or from investments is beyond question. In the first case, the income is uncertain and limited in duration; in the other, the source of income continues; the income may be disposed of during a man's life and it descends to his heirs. Surely we can afford to make a distinction between people whose only capital is their mettle and physical energy and the people whose income is derived from investments. Such a distinction would mean much to millions of American workers and would be an added inspiration to the man who must provide a competence during his few productive years to care for himself and his family when his earnings capacity is at an end."
Mellon, Secretary of the Treasury under presidents Harding and Hoover, wrote this in 1924. He presided over tax cuts that saw the top tax rates cut from 70% to 24% and as history shows, instead of creating jobs, this effort, along with unregulated investment, led to the Great Depression. Sound familiar?
They have been trying to prove that Hoover and his economists were correct on how a economy like Hoovers will benefit all in the country since that insane doddering old fool Reagan thought he was playing Hoover in a movie. One fact about conservatives they are incapable of learning from their mistakes, they just keep repeating them in the hope that it will work this time.
It was nice to see someone tell it like it is, I hope you will have Mr Hanauer on again for an extended segment one day
So one VC dude comes out with how lower tax rates do not create jobs..
Funny thing all the of the VC people disagree with this one lone person.
Leave it to the ed show to find the goof balls in the world and put them on his show.
And history shows that high tax rates kill job growth.
34 years of republican tax cuts where are all the jobs that they said would be created. Show me when tax cuts produced jobs, a chart a graft or a fact. In fact tax cuts have always produced high unemployment, if they created jobs then we should be neck deep in jobs. But no all the tax cuts have done is destroy the budget and caused deficits sky high. Reagan 1 trillion, Bush 41 3 trillion, GWB 11 trillion and still rising. Those are the facts and they have been shown as fact whereas yours is just talking point nonsense.
I could not agree more. Yes you have to sell your idea and money for backing but then you have to have people buy into your idea thus people buying your products then that is when the venture capitalist or the entrepenur makes their money. Romney and Bain created Sports Authoruty. In Houston Sports Authority use to be Oshman's Sporting Goods and Staples is a direct competition store of Office Depot or Office Max. Staples, Office Depot and Office Max all have the same prices.
I find it hard to believe that this billionare has no employes. He is say ng he dont created jobs, how does he get his product made? Is he saying he does it all by himself?
Just goes to show that you have no clue on how businesses run. Here is a clue for you to chew on. How did the big 3 in the 80's manage to make record profits while laying off employees and not being able to sell autos. In fact the big 3 CEO's were given huge bonuses while the auto giants were running in the red from 1982 until 1994. Mittens made millions without products as well buying up businesses and firing people then selling the businesses. Over your head I see.
So they had no employess at all?
How did they still make cars with no employess?
Talking to you is like talking to a dining room table with pretty much the same result, I have no desire to do so.
Hard to make cars with no emplyoess so saying you dont create joBs would be a flat out lie. Just got to call it like I see it, somebody has to write the checks.
That you made up in your own mind. Gee imagine that guess its time for you to answer this question.
How do you keep a tea bagging moron in suspense?
See, that dictionary makes a world of difference (even though your analogy is still lame.)
Grammar is the difference between knowing your s**t and knowing you’re s**t.
IF you dont create jobs then you have no employes. If you have 1 employee then you have created 1 job. If you have 100 employess you have created 100 jobs. That is just fact, believing that a billionaire doesnt create jobs makes you a complete idiot. Nobody with at least a tiny bit of common sense is stupid enough to think that a billionaire doesnt have any employees. Its the poor people who signs your paycheck, come on people use some common sense.
I have an idea why dont we tax eveybody the same %? Lets say 20% on every dollar recieved. If I GET A 1200.00 check every month I pay 240.00 in taxes. If I GET A 12000.00 check I pay 2400.00. If I get a 12 million dollar check I pay 2.4 million. I think that would erase in argument about anybody paying their fair share.