Go here to watch the video TED banned - because they didn't like the idea that tax cuts for the rich do not create jobs.
Which is true.
But is contrary to the article of faith that underpins the right wing tax narrative.
PS - Tim Worstall didn't like this talk - which is a sure sign Nick Hanauer got things right.
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Sometimes it takes an outsider to point out the “King has no clothes”
Making the rich even richer will do nothing for the production side of the economy it will only be dissipated in speculation….
I just loved the shot – about 1 minute 35 in – of a horror-stricken Donald Trump, like a rabbit tranfixed in the headlights, not sure which way to jump, what to do, or how to react, hearing such “heresy” parading as truth. Well, actually, more like truth parading as heresy. No wonder they tried to ban it!
Experiential, empirical truth is NOT high on the scale of values for neo-liberal. Instead they like to boast of “successes” which are actually disasters: e.g. Milton Friedman, how his (and their) policies “saved” Chile from Allende’s disastrous policies, when, as Greg Palast demonstrated years ago, Pinochet had to dump Friedman’s ideas’ and return to Allende’s to save Chile from complete collapse.
Alas, the public still thinks Gordon Brown’s “overspending” caused the slump, and that Obama messed up Dubya’s careful stewardship of the US economy. Why else would Scott Walker have managed to hold onto his post as Governor of Wisconsin, unless the neo-cons and neo-liberals had managed to set the agenda, and ignore the facts set out in this excellent offering from Nick Hanauer?
Please note that the rich should be paid more so as to encourage them to work harder, while the poor should be paid less in order to encourage them to work harder.
Tee hee.
Well, I have to say, understood the talk on TED very easily and appeared to make sense. Whereas Tim Worstall’s written explanation was impenetrable to me, in spite of having studying some Economics.
Worstall’s explanation comes from another world – a world where maths and blackboards rule
It ignores real people, their foibles, and the realities of the control they have over their lives
Oh, and he gets their motivations wrong too
Tim Worstall provides a masterclass in sophistry in that piece.
I thought the Hanauer talk was great. It doesn’t say much for the integrity or motivation of TED that they thought it wasn’t worth posting.
My God…if the Labour Party truly want to reinvent themselves this short clip should be at the forefront of their minds all the time. So take this clip and Paul Krugman’s demolition of Jon Moulton (did I get his name right?), and his wish for “Estonia Britain”, on Newsnight and grow some economic balls!
(By the way I’ve seen Nick at least twice on RT which hs now become my main news TV outlet for radical ideas and good documentaries. No doubt some people will see a pro-Putin bias from time to time but after watching the nauseating BBC coverage of the Jubilee and the lack of coverage of the destruction of the NHS, RT is looking pretty good these days.)
Keep up the good work Richard…still learning tons of stuff by coming to this blog every day.
Terrific post!