The Wealthy Are Not Job Creators

Entrepreneur and venture capitalist Nick Hanauer demolishes the falsehood that we shouldn’t raise taxes on the rich due to their being “job creators.” Of course, the continuance of the Bush tax cuts for the wealthy has coincided with high unemployment with rates.  Hanauer focuses on the fact that businesses don’t “create jobs”; they fill jobs in response to consumer demand. It is that demand that results in jobs and fuels the economy. Shoveling more cash at the wealthy is misguided and wasteful, he argues; raising taxes on the wealthy will benefit the true job creators, the middle class, and ultimately the rich themselves:

…I’ve never been a “job creator.” I can start a business based on a great idea, and initially hire dozens or hundreds of people. But if no one can afford to buy what I have to sell, my business will soon fail and all those jobs will evaporate.

That’s why I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is the feedback loop between customers and businesses. And only consumers can set in motion a virtuous cycle that allows companies to survive and thrive and business owners to hire. An ordinary middle-class consumer is far more of a job creator than I ever have been or ever will be.

…That’s why our current policies are so upside down. When the American middle class defends a tax system in which the lion’s share of benefits accrues to the richest, all in the name of job creation, all that happens is that the rich get richer.

… It is mathematically impossible to invest enough in our economy and our country to sustain the middle class (our customers) without taxing the top 1 percent at reasonable levels again. Shifting the burden from the 99 percent to the 1 percent is the surest and best way to get our consumer-based economy rolling again.

…We’ve had it backward for the last 30 years. Rich businesspeople like me don’t create jobs. Middle-class consumers do, and when they thrive, U.S. businesses grow and profit. That’s why taxing the rich to pay for investments that benefit all is a great deal for both the middle class and the rich.

So let’s give a break to the true job creators. Let’s tax the rich like we once did and use that money to spur growth by putting purchasing power back in the hands of the middle class. And let’s remember that capitalists without customers are out of business.

nick-hanauer-profile

How the Banks Stole Trillions – When is Prosecution?

Don’t forget!  The FED and bank/criminal syndicate of UNFREE enterprise/criminal capitalism needs to be prosecuted and more than reformed – maybe shut down. The men in charge make Bernie Madoff look like a 5-cent lemonade stand!!!!! – – http://www.lewrockwell.com/blog/lewrw/archives/99726.html

 

Corporations Regulate Themselves and the Government

Many corporations regulate themselves however they wish and then regulate the governmental regulator as well.  Case in point:  BIG PHARMA.  The FDA along with other agencies, many that make grants, subsidizing favorite projects, are hardly more than bureaucratic rubber stamps for the biggest pharmaceutical corporations.  Having steadily taken control of the medicine market as they consolidated to ever larger mergers, these corporations have become to BIG TO REGULATE.  This trend is found in every industry and seems to be the best way for corporate execs and plutocrats to put the government of the People and the Free Market in their places.  This film clip is one example in one industry, BIG PHARMA.  –  –    http://www.youtube.com/watch?feature=player_embedded&v=jRua3NLg-Z8#!LA_Times_2h

Unregulated Markets Are Dangerous

I have heard countless times from Republicans about the great, God given right to profit from every single human endeavor. Profit is said to be “necessary” as an incentive to investment, hard work, creativity, risk taking – all said to be necessary to improvement of our culture and strength of our economy. These same capitalist-minded servants to the plutocrat winners of this profit-driven economy complain that governmental regulation for fair competition, product safety, workers’ compensation and rights, fair taxation and responsible returns to investors slow the great profit generating apparatus. But as soon as regulation is lessened we see all these problems come to pass – all these as well as rigged markets, price-fixing, ecology destruction, destructive speculation, tax dodging, national and international fiscal crimes, suppression of all competing technologies. All this for products and services that are not designed to eradicate problems, but in fact allow problems to continue indefinitely and hopefully create new problems – all for cash flow, profits, and expanding criminal control in governments around the globe.

In competition, whether high school basketball or trading derivatives, regulation is necessary and desirable.  Deregulation corrupts, absolute deregulation corrupts absolutely.  Hypothetical Situation:  Basketball referees stop calling fouls.  Worse Hypothetical Situation:  No refs are present.  Question:  Have you ever witnessed violence?

foul

USA is a Predator and a Parasite on the World Economy

Everybody knows most US Corporations and Execs are corrupt and the USA near bankruptcy. China, Russia, EU, everybody is sick of our market manipulations and chicanery. Nobody is more sick of it than the American People!!!!  Andrew Bacevich explains how our government assisted in this corruption.   By using our military to remain in a predatory mode, assisting corporations and defense contractors in their parasitic practices.  Who does this help?  Only the largest investors with insider knowledge of the planning, the execs. – – http://www.amazon.com/Washington-Rules-Americas-Permanent-American/dp/B0055X4CS8/ref=sr_1_1?s=books&ie=UTF8&qid=1312387395&sr=1-1

G2L