Raise Taxes on Rich to Reward True Job Creators: Nick Hanauer
By Nick Hanauer Nov 30, 2011 7:01 PM ET

It is a tenet of American economic beliefs, and an article of faith for Republicans that is seldom contested by Democrats: If taxes are raised on the rich, job creation will stop.

Trouble is, sometimes the things that we know to be true are dead wrong. For the larger part of human history, for example, people were sure that the sun circles the Earth and that we are at the center of the universe. It doesn’t, and we aren’t. The conventional wisdom that the rich and businesses are our nation’s “job creators” is every bit as false.

I’m a very rich person. As an entrepreneur and venture capitalist, I’ve started or helped get off the ground dozens of companies in industries including manufacturing, retail, medical services, the Internet and software. I founded the Internet media company aQuantive Inc., which was acquired by Microsoft Corp. (MSFT) in 2007 for $6.4 billion. I was also the first non-family investor in Amazon.com Inc. (AMZN)

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One Comment to “Who are the REAL “job creators”? Those citizens who have enough to buy things (a/k/a “consumers”). That’s why we need to TAX THE RICH!”

  • I’m sure Mr. Hanauer will incur the wrath of all kinds of Americans for Prosperity/ Heritage Foundation/ American Enterprise Institiute/ Cato Institute pundits and shills on FOX “News” for this article, not to mention death threats from a variety of unhinged Tea Baggers and other free-market fundamentalists.

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