Facts About The Rich And Job Creation Are Too ‘Politically Controversial’ For TED Talks
TED, the nonprofit organization that organizes and promotes wonky web videos on varying issues known as TED talks, has reportedly decided not to publish a video on income inequality in which venture capitalist Nick Hanauer* declares, Rich businesspeople like me dont create jobs. TED organizers deemed the talk too politically controversial, and in an email obtained by the National Journal, TED curator Chris Anderson told Hanauer that we couldnt release it, because it would be unquestionably regarded as out and out political. Were in the middle of an election year in the US. Your argument comes down firmly on the side of one party.
Just because TED regards the topic as too political, however, doesnt mean Hanauers points arent valid. Income inequality has skyrocketed over the last three decades, as the richest Americans have seen their incomes rise and their tax rates fall. Middle class wages, meanwhile, havent kept up with costs or productivity. That led Hanauer to conclude that the middle class is the real engine of job growth, and that weve had it backward for the last 30 years by cutting taxes on the rich, according to his prepared remarks:
If it were true that lower tax rates and more wealth for the wealthy would lead to more job creation, then today we would be drowning in jobs. And yet unemployment and under-employment is at record highs. [...]
Weve had it backward for the last 30 years. Rich businesspeople like me dont create jobs. Rather they are a consequence of an eco-systemic feedback loop animated by middle-class consumers, and when they thrive, businesses grow and hire, and owners profit. Thats why taxing the rich to pay for investments that benefit all is a great deal for both the middle class and the rich.
silverweb
(16,402 posts)[font color="navy" face="Verdana"]Once this goes viral and gets more attention than it would have otherwise, and once T.E.D. gets swamped with petitions and emails about its futile attempt at censorship... LOL