That’s why I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is a “circle of life” like feedback loop between customers and businesses. And only consumers can set in motion this virtuous cycle of increasing demand and hiring. In this sense, an ordinary middle-class consumer is far more of a job creator than a capitalist like me.

Nick Hanauer speaks an uncomfortable truth, and it’s something many of us in the middle class have screamed about over the years. But we’re drowned out by the voices of our very own politicians and the wealthy upper-class businessmen who fund their campaigns and line their pocketbooks. They continue to believe the rich should be taxed less, and the lower and middle classes should be taxed more. Eventually, when they’ve finally taken all of our money, and there’s only a handful of incredibly rich people and a vast majority of incredibly poor people left, no one will remain who can buy their products and services and help them maintain their comfortable lifestyles. Only then will they fully understand what they have done.

But by that time, it will be too late for everyone.

Via the National Journal