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View Diary: The TED Talk that should be named (59 comments)

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  •  Tipped and rec’d (5+ / 0-)

    It’s from May 2012 and I’ve heard it before, but Nick Hanauer makes some great points. And here are some things I would add:

    #1 We should stimulate the economy. The government should borrow money when the economy is bad (and spend it on jobs) and pay back the money when the economy is good. Clinton had a balanced budget (and then GW Bush decided to start two wars and borrow the money from his grandchildren to pay for them). Deficits are not always bad. You borrow money until the economy gets better.

    #2 Some rich people understand this. Both Warren Buffett and Bill Gates, Sr. have said that they think it’s execrable that rich people don’t pay more in taxes. Both of them think taxes should be progressively and fairly applied.

    #3 When you cut taxes for rich people they don’t necessarily create jobs. Some of them (Newt Gingrich, for example) buy diamonds from Tiffany’s. Gingrich had a million dollar line of credit that went to buy diamonds from Russia or South Africa. WTF? Give him some money and it goes overseas. Another example is the Koch Brothers or Sheldon Adelson. If you cut their taxes, they’ll spend money to elect more Republicans (so their taxes will be lowered even more). They’re not hiring people. They’re hiring lobbyists and advertising guys. Then when the election is over (and they lost, thank the FSM) those jobs disappear. They’re not creating anything.

    Thanks for posting this.

    Giving money to rich people doesn't create jobs. Stimulating the economy creates jobs (and rich people hire more people because they need more workers).

    "Stupid just can't keep its mouth shut." -- SweetAuntFanny's grandmother.

    by Dbug on Sat Mar 30, 2013 at 07:01:47 PM PDT

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