Billionaire says Rich people are NOT Job creators (Video)

[Flippinfunky]

Billionaire Debunks the ‘Job Creator’ Myth (VIDEO) | Veracity Stew

The following is only some of what is talked about in the above link....

It's so nice to see honesty come from the rich...


"But sometimes the ideas that we are certain are true, are dead wrong. Consider that for thousands of years humans believed that the Earth is the center of the universe. It’s not; and an astronomer who still believed that it was, would do some pretty terrible astronomy. Likewise, a policymaker who believes that the rich are job creators and therefore should not be taxed will do equally terrible policy.

Hanauer went on to say that he has started or helped start dozens of companies and initially hired hundreds of people:
But if there was no one around who could afford to buy what we had to sell, all those companies and all those jobs would have evaporated. That’s why I can say with confidence, rich people don’t create jobs, nor do businesses large or small. Jobs are a consequence of a circle-of-life-like feedback loop between customers and businesses. And only consumers can set in motion this virtual cycle of increasing demand and hiring. In this sense, an ordinary consumer is more of a job creator than a capitalist like me. That’s why when business people take credit for creating jobs, it is a little bit like squirrels taking credit for creating evolution; it’s actually the other way around. Anyone who has run a business knows that hiring more people is a course of last resort for capitalists. It is what we do if and only if rising consumer demand requires it. And in this sense, calling yourselves job creators is not only inaccurate, it is disingenuous.
That’s why our existing policies are so upside down. When the biggest tax exemptions and the lowest tax rates benefit the richest all in the name of job creation, all that happens is that the rich get richer. Since 1980 the share of income for the top 1% of Americans has more than tripled while our effective tax rates have gone down by 50%. If it was true that lower taxes for the rich and more wealth for the rich led to job creation, today we would be drowning in jobs. And yet unemployment and underemployment are at record highs.......

....Casting a new light on the language and image of “the job creator”:
Significant privileges have come to people like me – capitalists – for being perceived as job creators at the center of the economic universe. And the language and metaphors we use to defend the current economic and social arrangements is telling. It’s a small jump from “job creator” to “the creator”; this language was not chosen by accident. And it’s only honest to admit that when somebody like me calls himself a job creator, we’re not just describing how the economy works, but more particularly, we’re making a claim on status and privileges that we deserve. Speaking of special privileges, the extraordinary differential between the 15% tax rate that capitalists pay on carried interest, dividends, and capital gains, and the 35% top marginal rate on work that ordinary Americans pay is kind of hard to justify without a touch of deification."

 

[Samhain]

But if there was no one around who could afford to buy what we had to sell, all those companies and all those jobs would have evaporated.

Who purchases expensive items like luxury cars, boats, $100/plate dinners, jets, etc?

The only way this guy isn't a job creator, based on his own logic, is if he uses his money to wipe his ass.

 

[Paschendale]

Of course rich people aren't job creators. Businesses are. Organizations that supply products and services to meet a demand. The idea that the personal luxuries of the rich can or should be a major source of employment for the rest of the country is an absurd fantasy. The last time such an idea was implemented was the Dark Ages, and we all know how well that went. The upper echelons lived like kings, literally, while everybody else starved. Rich aristocrats didn't create the prosperity we have today. It was the massive expansion of the merchant class. You know, the middle class? Giving the rich unbridled control over the country's money will return us to the Dark Ages. But go ahead if you want to be a serf.

 

[phattonez]

Yes Paschendale, because all anyone ever says that the rich do to provide jobs is buy luxury goods. :roll:

 

[Khayembii Communique]

Commodity demand drives job creation...

 

[Harshaw]

Commodity demand drives job creation...

Not without someone to organize captial, labor, and materials to produce that which meets the demand. And to recognize demand in the first place.

Also, if this were the sole driver of things, no new products or services, which no one knew about in order to demand it, would ever be created.

 

[Harshaw]

Billionaire Debunks the ‘Job Creator’ Myth (VIDEO) | Veracity Stew

The following is only some of what is talked about in the above link....

It's so nice to see honesty come from the rich...


"But sometimes the ideas that we are certain are true, are dead wrong. Consider that for thousands of years humans believed that the Earth is the center of the universe. It’s not; and an astronomer who still believed that it was, would do some pretty terrible astronomy. Likewise, a policymaker who believes that the rich are job creators and therefore should not be taxed will do equally terrible policy.

Hanauer went on to say that he has started or helped start dozens of companies and initially hired hundreds of people:
But if there was no one around who could afford to buy what we had to sell, all those companies and all those jobs would have evaporated. That’s why I can say with confidence, rich people don’t create jobs, nor do businesses large or small. Jobs are a consequence of a circle-of-life-like feedback loop between customers and businesses. And only consumers can set in motion this virtual cycle of increasing demand and hiring. In this sense, an ordinary consumer is more of a job creator than a capitalist like me. That’s why when business people take credit for creating jobs, it is a little bit like squirrels taking credit for creating evolution; it’s actually the other way around. Anyone who has run a business knows that hiring more people is a course of last resort for capitalists. It is what we do if and only if rising consumer demand requires it. And in this sense, calling yourselves job creators is not only inaccurate, it is disingenuous.
That’s why our existing policies are so upside down. When the biggest tax exemptions and the lowest tax rates benefit the richest all in the name of job creation, all that happens is that the rich get richer. Since 1980 the share of income for the top 1% of Americans has more than tripled while our effective tax rates have gone down by 50%. If it was true that lower taxes for the rich and more wealth for the rich led to job creation, today we would be drowning in jobs. And yet unemployment and underemployment are at record highs.......

....Casting a new light on the language and image of “the job creator”:
Significant privileges have come to people like me – capitalists – for being perceived as job creators at the center of the economic universe. And the language and metaphors we use to defend the current economic and social arrangements is telling. It’s a small jump from “job creator” to “the creator”; this language was not chosen by accident. And it’s only honest to admit that when somebody like me calls himself a job creator, we’re not just describing how the economy works, but more particularly, we’re making a claim on status and privileges that we deserve. Speaking of special privileges, the extraordinary differential between the 15% tax rate that capitalists pay on carried interest, dividends, and capital gains, and the 35% top marginal rate on work that ordinary Americans pay is kind of hard to justify without a touch of deification."

One wonders, then, if the audience who would obviously eat this kind of thing up would admit that corporations have no power that consumers don't give them.

 

[phattonez]

Commodity demand drives job creation...

Totally unsubstantiated and wrong opinion.

 

[washunut]

Billionaire Debunks the ‘Job Creator’ Myth (VIDEO) | Veracity Stew

The following is only some of what is talked about in the above link....

It's so nice to see honesty come from the rich...


"But sometimes the ideas that we are certain are true, are dead wrong. Consider that for thousands of years humans believed that the Earth is the center of the universe. It’s not; and an astronomer who still believed that it was, would do some pretty terrible astronomy. Likewise, a policymaker who believes that the rich are job creators and therefore should not be taxed will do equally terrible policy.

Hanauer went on to say that he has started or helped start dozens of companies and initially hired hundreds of people:
But if there was no one around who could afford to buy what we had to sell, all those companies and all those jobs would have evaporated. That’s why I can say with confidence, rich people don’t create jobs, nor do businesses large or small. Jobs are a consequence of a circle-of-life-like feedback loop between customers and businesses. And only consumers can set in motion this virtual cycle of increasing demand and hiring. In this sense, an ordinary consumer is more of a job creator than a capitalist like me. That’s why when business people take credit for creating jobs, it is a little bit like squirrels taking credit for creating evolution; it’s actually the other way around. Anyone who has run a business knows that hiring more people is a course of last resort for capitalists. It is what we do if and only if rising consumer demand requires it. And in this sense, calling yourselves job creators is not only inaccurate, it is disingenuous.
That’s why our existing policies are so upside down. When the biggest tax exemptions and the lowest tax rates benefit the richest all in the name of job creation, all that happens is that the rich get richer. Since 1980 the share of income for the top 1% of Americans has more than tripled while our effective tax rates have gone down by 50%. If it was true that lower taxes for the rich and more wealth for the rich led to job creation, today we would be drowning in jobs. And yet unemployment and underemployment are at record highs.......

....Casting a new light on the language and image of “the job creator”:
Significant privileges have come to people like me – capitalists – for being perceived as job creators at the center of the economic universe. And the language and metaphors we use to defend the current economic and social arrangements is telling. It’s a small jump from “job creator” to “the creator”; this language was not chosen by accident. And it’s only honest to admit that when somebody like me calls himself a job creator, we’re not just describing how the economy works, but more particularly, we’re making a claim on status and privileges that we deserve. Speaking of special privileges, the extraordinary differential between the 15% tax rate that capitalists pay on carried interest, dividends, and capital gains, and the 35% top marginal rate on work that ordinary Americans pay is kind of hard to justify without a touch of deification."

Seems like a chicken and egg debate. Sure you need someone to buy your product, by the same token you need someone who is willing to risk his/her capital to invest in equipment and hire people to build the product.

I guess a political debate has to be black or white. We are good the other side are evil dopes.

The real world is much more grey, where there is truth in both sides of an argument. But that would take more than a 30 second air and would bore the average voter.

 

[TurtleDude]

what relevance does a billionaire have to anything at all? I find it amusing that people use Gates or Buffett as arguments why people making a few hundred K a year ought to pay more taxes. Its idiotic. The uber wealthy often want the same welfare socialist crap that the envious ne'er do wells want. anyone who thinks that Bill Gates or Soros or Buffett have much in common and the same interests as most of those in the top one percent merely because both groups are subject to the same top marginal tax rate is a fool

and its funny watching hard lefties lapping up the comments of billionaires when they think the billionaires actually care about them

 

[TurtleDude]

Of course rich people aren't job creators. Businesses are. Organizations that supply products and services to meet a demand. The idea that the personal luxuries of the rich can or should be a major source of employment for the rest of the country is an absurd fantasy. The last time such an idea was implemented was the Dark Ages, and we all know how well that went. The upper echelons lived like kings, literally, while everybody else starved. Rich aristocrats didn't create the prosperity we have today. It was the massive expansion of the merchant class. You know, the middle class? Giving the rich unbridled control over the country's money will return us to the Dark Ages. But go ahead if you want to be a serf.

where do businesses get the capital to create jobs

 

[American]

Billionaire Debunks the ‘Job Creator’ Myth (VIDEO) | Veracity Stew

The following is only some of what is talked about in the above link....

It's so nice to see honesty come from the rich...


"But sometimes the ideas that we are certain are true, are dead wrong. Consider that for thousands of years humans believed that the Earth is the center of the universe. It’s not; and an astronomer who still believed that it was, would do some pretty terrible astronomy. Likewise, a policymaker who believes that the rich are job creators and therefore should not be taxed will do equally terrible policy.

Hanauer went on to say that he has started or helped start dozens of companies and initially hired hundreds of people:
But if there was no one around who could afford to buy what we had to sell, all those companies and all those jobs would have evaporated. That’s why I can say with confidence, rich people don’t create jobs, nor do businesses large or small. Jobs are a consequence of a circle-of-life-like feedback loop between customers and businesses. And only consumers can set in motion this virtual cycle of increasing demand and hiring. In this sense, an ordinary consumer is more of a job creator than a capitalist like me. That’s why when business people take credit for creating jobs, it is a little bit like squirrels taking credit for creating evolution; it’s actually the other way around. Anyone who has run a business knows that hiring more people is a course of last resort for capitalists. It is what we do if and only if rising consumer demand requires it. And in this sense, calling yourselves job creators is not only inaccurate, it is disingenuous.
That’s why our existing policies are so upside down. When the biggest tax exemptions and the lowest tax rates benefit the richest all in the name of job creation, all that happens is that the rich get richer. Since 1980 the share of income for the top 1% of Americans has more than tripled while our effective tax rates have gone down by 50%. If it was true that lower taxes for the rich and more wealth for the rich led to job creation, today we would be drowning in jobs. And yet unemployment and underemployment are at record highs.......

....Casting a new light on the language and image of “the job creator”:
Significant privileges have come to people like me – capitalists – for being perceived as job creators at the center of the economic universe. And the language and metaphors we use to defend the current economic and social arrangements is telling. It’s a small jump from “job creator” to “the creator”; this language was not chosen by accident. And it’s only honest to admit that when somebody like me calls himself a job creator, we’re not just describing how the economy works, but more particularly, we’re making a claim on status and privileges that we deserve. Speaking of special privileges, the extraordinary differential between the 15% tax rate that capitalists pay on carried interest, dividends, and capital gains, and the 35% top marginal rate on work that ordinary Americans pay is kind of hard to justify without a touch of deification."

When a liberal posts an obvious anti-capitalist article like this, it has zero credibility. Especially when the billionaire is a huge leftwinger. You should have offered to send $50 to a conservative member to post this crap for you, it would have been more believeable. :lol:

 

[Flippinfunky]

When a liberal posts an obvious anti-capitalist article like this, it has zero credibility. Especially when the billionaire is a huge leftwinger. You should have offered to send $50 to a conservative member to post this crap for you, it would have been more believeable. :lol:

Chances are, this guy can dig your annual income out of his couch cushions....thus, when you make Billions of dollars, Ill find your post relevant.

 

[bonfire]

Hanauer went on to say that he has started or helped start dozens of companies and initially hired hundreds of people:

so then a rich person created jobs. You're contradicting your own argument with this sentence.

 

[Flippinfunky]

so then a rich person created jobs. You're contradicting your own argument with this sentence.

But if there was no one around who could afford to buy what we had to sell, all those companies and all those jobs would have evaporated.

You forgot that part. In other words, without the consumer creating DEMAND...there would be no jobs.

 

[ALightInTheDark]

what relevance does a billionaire have to anything at all? I find it amusing that people use Gates or Buffett as arguments why people making a few hundred K a year ought to pay more taxes. Its idiotic. The uber wealthy often want the same welfare socialist crap that the envious ne'er do wells want. anyone who thinks that Bill Gates or Soros or Buffett have much in common and the same interests as most of those in the top one percent merely because both groups are subject to the same top marginal tax rate is a fool

and its funny watching hard lefties lapping up the comments of billionaires when they think the billionaires actually care about them

If you watched the video... the interesting thing is that he admitted that the rich need the middle class' business. It was quite an eloquent argument and very eye opening. Its hard to argue with the logic. Lets face it, we all need each other, so why doesn't everyone get with the program and stop being bitter about things that can only help our economy?

 

[ALightInTheDark]

When a liberal posts an obvious anti-capitalist article like this, it has zero credibility. Especially when the billionaire is a huge leftwinger. You should have offered to send $50 to a conservative member to post this crap for you, it would have been more believeable. :lol:

If the logic is sound... why not accept the message and forget who it came from?

 

[bonfire]

But if there was no one around who could afford to buy what we had to sell, all those companies and all those jobs would have evaporated.

You forgot that part. In other words, without the consumer creating DEMAND...there would be no jobs.

Your argument = the rich don't create jobs.

your original post = statement which had a rich person creating jobs.

my post = I point out this contradiction

your rebuttle = ignoring your original argument. adopting new argument = rich and consumers create jobs

verdict = misdirection away from original argument.

 

[Flippinfunky]

Your argument = the rich don't create jobs.

your original post = statement which had a rich person creating jobs.

my post = I point out this contradiction

your rebuttle = ignoring your original argument. adopting new argument = rich and consumers create jobs

verdict = misdirection away from original argument.

No, you didn't read the next line before you posted in all your excitement. Dont blame me for your foolishness. Clearly he stated that, without the consumer, his companies and jobs would have evaporated. Slow down and control your impulses next time.

 

[bonfire]

No, you didn't read the next line before you posted in all your excitement. Dont blame me for your foolishness. Clearly he stated that, without the consumer, his companies and jobs would have evaporated. Slow down and control your impulses next time.

I'm not arguing with the video, I'm arguing with you. Please stop insulting me, I'm trying my best to be polite with you.

Hanauer went on to say that he has started or helped start dozens of companies and initially hired hundreds of people:
But if there was no one around who could afford to buy what we had to sell, all those companies and all those jobs would have evaporated. That’s why I can say with confidence, rich people don’t create jobs, nor do businesses large or small.

This is clearly your thesis statement. Based on what you're arguing with me, the line should be revised to...

"thats why I can say with confidence, rich people *are not the only ones responsible for job creation*

This would have made your argument much clearer.

 

[AmericanDreamer]

While consumers drive economic activity, the more decentralized money is, the less market infrastructure will be created. It would be nice, as the OP presumes, that "consumers could just come together, build a "business", be without profit and be self-sufficient". The first thing that would have to happen is all consumers pooling their money together, if they wanted to build a shopping mall for instance. But there are so many differing ideas on the paint of the mall. Not to mention, some people want the mall built so they could use it, but don't want to invest any money in it. Yes this already happens, but it's much more fluid when you have fewer people with deeper pockets.

 

[Khayembii Communique]

Not without someone to organize captial, labor, and materials to produce that which meets the demand. And to recognize demand in the first place.

Also, if this were the sole driver of things, no new products or services, which no one knew about in order to demand it, would ever be created.

I didn't say "sole". What I meant is that it is silly to give tax breaks to rich people and claim they are "job creators". Job creation is a combination of demand drive and creating a supply chain to meet that demand. So sure, it requires investment. Obviously. But claiming that rich people are "job creators" and that therefore they deserve tax breaks is stupid because if there is no (or not enough) demand for something then you could throw money at rich people and they wouldn't create any jobs in that sector. Hiring people is a big commitment; most companies want a sustained high demand before they hire new employees to confirm that there is a lasting need for additional employees. If there isn't, they won't hire anyone. Hell, just look at the current crisis with massive tax breaks and extremely low interest rates; companies are still just sitting on mountains of cash.

 

[sawyerloggingon]

Taxing the rich does not create jobs, what it does is gives politicians more money to squander and takes money out of the hands of people who would spend it on goods and services. It takes employees to manufacture and transport these goods and provide these services. What is it about this you socialist can’t grasp?

 

[Jetboogieman]

Taxing the rich does not create jobs, what it does is gives politicians more money to squander and takes money out of the hands of people who would spend it on goods and services. It takes employees to manufacture and transport these goods and provide these services. What is it about this you socialist can’t grasp?

Targeted spending plans instead of handouts can lift up entire communities.

Yes the rich spend money on goods and services... but at the end of the day whether it's a guy making 3 million a year, or 30, 000. The guy making 3 million a year doesn't buy 3 million more boxes of cereal.

 

[Aunt Spiker]

I think people need to stop drawing conclusions and painting blankets with their beliefs. . . everyone is different. Most people who have strong opinoins don't know anyone who's 'rich' at all.

My husband's grandfather created two a businesses that are no longer operated by the family. One business; a plumbing-components manufacturing company - provides adequate employment for thousands nationwide. 2 decades ago they sold the business and took a share of futures which provides them with a monthly dividend. As the company grows so does the dividend - it's been sufficient means of income for them. The second business was a winery that folded - but they sold the land has since developed into the the foothill suburbs of Freemont, CA

In turn - the family has lived in their home in that suburb ever since. It was their land long ago - more than paid off since then. Since selling off the surrounding acreage the area has only become a massive high-class neighborhood. . . boosting their home's value into the millions purely based on it's pre-existing location. It most certainly wasn't top-line when they first built it.

Grandpa died a long time ago leaving all to his wife. She, in turn, supported their children (my husband's mother being one) - 2 children followed in the footsteps of their father; starting businesses of their own in the US; they're gainfully employed and are ethical, solid people. Millionairs? Super rich? No - but self sufficient and providing for others as well. They learned a lot from their father about how to start and run a business - etc. He was a decent guy.

1 child of theirs, however, did not venture out on their own. . .she stayed with her mother, never living on her own. This is my husband's mother - one year she had a brain aneurism - the next year her oldest daughter passed away from a brain tumor after being married for several years and having a few children. After the passing of her oldest daughter my husband's mother fell apart emotionally and turned to drugs - so did 2 of her children. One eventually left the drug-laiden environment and cleaned her life up. Another still lives with her perpetually in a state of immaturity and trouble. My husband separated completely from the hectic family entirely and disconnected himself financially a long time ago. All in all; though my husband's upbringing was privileged - it was also a bit of a negative curse.

So what's grandpa's legacy? I'd say that it's a 2/3 - 1/3 split. 1/3 of his family never left the wealthy-nest and their lives have been in shambles; drugs and other illegal activities. However - my mother in law isn't in full control over the estate and so taxes and such are still paid. The other 2/3 of his decedents have separated either partially or fully from the family wealth-nest and have ventured out on their own - living normal, regular lives.

Meeting my husband - I had no clue *at all* that his family was well-off because he sure wasn't. He was just a regular guy with a regular military career living in a crappy house and driving a junky truck.


Right now we're pursuing our own small business - and a lot of values that his successful grandfather held has shaped him as a person overall. He's a decent guy who doesn't leech off of family-wealth and instead has managed to support himself all these years. Nothing's really changed on his personal-level. He just has career clout and a family, now. . . and a 12 yr old sports car.

Life is what you make of it - Do the billionairs create jobs? Some do - some don't. The average joe in general doesn't make any jobs, either - he just works one :shrug: Someone has to do it, though. It does get done . . .and whoever makes them = we need those people to make more.