{"id":13214,"date":"2013-01-04T20:36:44","date_gmt":"2013-01-05T01:36:44","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=13214"},"modified":"2013-01-04T20:36:44","modified_gmt":"2013-01-05T01:36:44","slug":"the-case-against-billionaires-or-who-are-the-job-creators","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2013\/01\/04\/the-case-against-billionaires-or-who-are-the-job-creators\/","title":{"rendered":"The Case Against Billionaires or Who Are The Job Creators?"},"content":{"rendered":"<p><em>Truth Out<\/em> has the article <a title=\"Truthout article\" href=\"http:\/\/truth-out.org\/opinion\/item\/13698-the-case-against-billionaires\" target=\"_blank\"><strong>The Case Against Billionaires<\/strong><\/a>. The article is good, but the simplest way to get the idea is to listen to the talk by Nick Hanauer, a venture capitalist from Seattle, that the article references.<\/p>\n<div style=\"text-align:center\">\n<iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"http:\/\/www.youtube.com\/embed\/bBx2Y5HhplI?rel=0\" style=\"border:thick ridge #009900\" allowfullscreen><\/iframe>\n<\/div>\n<pre>\r\n<\/pre>\n<p>The Truth Out article summarizes the argument as follows:<\/p>\n<blockquote><p>\nSo if it were true that the world\u2019s economies rely on their super-rich to do well, as today\u2019s oligarch-inspired, right-wing economics argues, then why are world&#8217;s &#8220;austerity&#8221; economies doing so poorly?   <\/p>\n<p>It\u2019s because billionaires are not job creators, they are somewhere between symbiotes and parasites. That\u2019s not meant as a personal insult against billionaires, many of whom are decent people. But it\u2019s meant as a statement of common sense. If vast fortunes are being hoarded in the hands of very few people who can\u2019t possibly spend that much money in their lifetime or their kid\u2019s lifetime or even their kid\u2019s, kid\u2019s, kid\u2019s, kid\u2019s, lifetime, then it\u2019s essentially being wasted.<\/p>\n<p>This is the point billionaire Nick Hanauer was making in his recent TED talk explaining why rich people aren\u2019t job creators (He also said the same thing on The Big Picture with Thom Hartmann). As he said, \u201cThere can never be enough super-rich Americans to power a great economy. The annual earnings of people like me are hundreds, if not thousands, of times greater than those of the median American, but we don&#8217;t buy hundreds or thousands of times more stuff.\u201d<\/p><\/blockquote>\n<pre>\r\n<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Truth Out has the article The Case Against Billionaires. The article is good, but the simplest way to get the idea is to listen to the talk by Nick Hanauer, a venture capitalist from Seattle, that the article references. The Truth Out article summarizes the argument as follows: So if it were true that the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-13214","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/13214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=13214"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/13214\/revisions"}],"predecessor-version":[{"id":13215,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/13214\/revisions\/13215"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=13214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=13214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=13214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}