TED Speech On Income Inequality

A six-minute clip of Amazon.com co-founder Nick Hanauer (a very rich man). Shame on TED for taking this clip off their site. (I got it from a copy taken by Lawrence O'Donnell and posted at msnbc.com.)

"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 businesses. 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. So ladies and gentlemen, here's an idea worth spreading: in a capitalist economy, the true job creators are middle class consumers. And 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."