Summary of Nick Hanauer’s (early Amazon investor) TED talk on inequality:
- The rich don’t create jobs; customers do
- Effective tax rate for the rich is ~1/2 of middle class; should be higher
- Rich don’t compensate for the lost consumption by cash-poor middle class
This is an idea worth spreading!
Here is the full talk:
Here is his second TED talk from 2014:
Main idea: Double the salary of workers, as Henry Ford did. This will create a thriving middle class, which is the engine of a sustainable and successful economy!
Something to think about!