Monday, December 5, 2011

The Great Recession - Taxation with Representation can work!

I wrote a long time ago about how cutting taxes just didn't jive with the history of recession and recovery in the U.S. Others then jumped on the band wagon (Here, here, here). Even Warren Buffet got into the game, practically begging to be taxed more.

So I wasn't necessarily surprised when Nick Hanauer(venture capitalist) also raised his hand and said "tax me too." Rather, it's his economically sound, market-driven perspective on WHY that is novel and refreshing:

We’ve had it backward for the last 30 years. Rich businesspeople like me don’t create jobs. Middle-class consumers do, and when they thrive, U.S. businesses grow and 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.

So let’s give a break to the true job creators. Let’s tax the rich like we once did and use that money to spur growth by putting purchasing power back in the hands of the middle class. And let’s remember that capitalists without customers are out of business.

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