There’s one idea, though, that TED’s organizers recently decided was too controversial to spread: the notion that widening income inequality is a bad thing for America, and that as a result, the rich should pay more in taxes.
(RELATED:The Speech That’s Too Hot for TED)
TED organizers invited a multimillionaire Seattle venture capitalist named Nick Hanauer – the first nonfamily investor in Amazon.com – to give a speech on March 1 at their TED University conference. Inequality was the topic – specifically, Hanauer’s contention that the middle class, and not wealthy innovators like himself, are America’s true “job creators.”
(RELATED:The Slides That Are Too Hot for TED)
“We’ve had it backward for the last 30 years,” he said. “Rich businesspeople like me don’t create jobs. Rather they are a consequence of an ecosystemic feedback loop animated by middle-class consumers, and when they thrive, businesses grow and hire, and owners 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.”
Basically, Scott Brown and Mitt Romney’s campaigns boil down in large part to trying to hide this data-driven truth:
In a capitalist economy, the true job creators are consumers, the middle class. And taxing the rich to make investments that grow the middle class, is the single smartest thing we can do for the middle class, the poor and the rich.
Fortunately, BMG is reality-based, and we can handle the truth, even if TED and, more generally, the GOP can’t.