All together now: the real job creators are the middle class

Nick Hanauer’s TED Talk on the fairy tale that is supply side economics:

More here.

It has always been my view that if you want a strong economy then the tax code should be written from the bottom up, not top down, and, in addition to funding the government, it should be designed to put as much disposable income into the hands of the working and middle class. In the second video, Hanauer also points out an interesting side-effect of cutting taxes on the rich: it puts the most disposable income into the hands of people for whom price is no object, which in turn drives price increases above what would be the case if poor, working, or middle class consumers were driving the economy.

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