Too Hot for TED: Income Inequality
‘We’ve had it backward for the last 30 years,’ he said. ‘Rich businesspeople like me don’t create jobs. Rather they are a consequence of an ecosystemic feedback loop animated by middle-class consumers, and when they thrive, businesses grow and hire, and owners 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.’
The full text of the speech can be found here. It’s a fascinating talk in and of itself, and the fact that TED decided it was too controversial for them is really a shame. It’s an interesting theory. Certainly it makes more sense than the whole “Tax the hell out of the poor and leave the rich to do their thing” that America has been running on since forever.