Busting the Myth Around Job Creation and Tax Rates.

Do tax rates influence job creation? Of course not, but I'll bet most American probably think so if they're buying the sell job by our sold out press.

Lawrence O'Donnell uncovers the truth from Washington Post reporter Ezra Klein and venture capitalist Nick Hanauer.

Kleefisch: "You have to walk before you run, and that's what we've been doing." Billionaire Nick Hanauer would disagree.

OMG, pinch me I must be dreaming:

Rebecca Kleefisch: "You don't recover from such a deep economic recession immediately. It takes awhile to turn around the ship..."

Was she standing up for Barack Obama's slow economic recovery, correcting those in her party who have been excessively critical of the president? No, she was defending her own administrations complete failure to produce jobs at the same rate as other states.  From Here and Now:



Besides blaming the 150,000 job losses in the last three years on Democratic Gov. Jim Doyle, instead of the Great Recession, Kleefisch then flips that around unconsciously and blames Obama's slow federal jobs plan for her own failures. No wonder low information voters try to keep it simple, who can keep up with these double talking con artists.

Look at the expression on Becky's face when she says,

"you have to walk before you run, and that's what we've been doing, we've been walking..." 

She looks like a condescending little three year old making it simple for the confused, common folk like you and me. Yes, we get what you're saying...but even better, her after election win:

Kleefisch: "After this recall election is over, we're gearing up to run, because 87 percent of our job creators statewide say they are poised to create jobs in 2012." 

How dumb is that? Think about it; business owners are going to hire employees because Walker won the recall election, not because consumers are buying their products or services. That's why the state is screwed. They will continue to ignore people like billionaire venture capitalist Nick Hanauer. He calls it "middle out" economics. If what Hanauer says here doesn't make sense to you, then heaven help us all:

I have started or helped start, dozens of businesses and initially hired lots of people. But if no one could have afforded to buy what we had to sell, my businesses would all have failed and all those jobs would have evaporated. 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. 

Anyone who's ever run a business knows that hiring more people is a capitalists course of last resort, something we do only when increasing customer demand requires it.  In this sense, calling ourselves job creators isn't just inaccurate, it's disingenuous.

That's why our current policies are so upside down. When you have a tax system in which most of the exemptions and the lowest rates benefit the richest, all in the name of job creation, all that happens is that the rich get richer.

Extra: I found this big "oops" in one conservatives criticism, and thought you'd like to see it:

Forbes: TED curator Chris Anderson went to his blog to explain why Hanauer’s talk wasn’t picked: “…it framed the issue in a way that was explicitly partisan. And it included a number of arguments that were unconvincing … The audience at TED who heard it live (and who are often accused of being overly enthusiastic about left-leaning ideas) gave it, on average, mediocre ratings.

But how could that be true if the concluding paragraph to this withering criticism is just the opposite?

Hanauer defended himself in an email to Business Insider, saying that he “got a sensational reaction to the talk at the conference itself, including a big standing ovation.” Maybe so, but I can tell you, having been to a few TED's, that those people clap at almost anything.

Oops, about that "mediocre ratings" thing.

Republicans want you to think just the opposite of the truth, consumers are the job creators-Nick Hanauer

Lawrence O'Donnell feature an interview with Nick Hanauer, one of the founding investors of Amazon, who said what I've been saying for years; consumers are the real job creators. 

Go figure. Because it's opposite day, every day in Republican world, when they say the wealthy are the job creators, they mean the opposite. It's mind boggling to think that if Republicans do win control in November, they will run the countries economic engine in reverse. Maybe we deserve it.

Back in March at the TED (Technology, Entertainment and Design) Conference in Long Beach, California attendees heard something wonktastically different. Nick Hanauer gave an eyebrow-raising talk that casts quite a bit of doubt on Mitt Romney's biggest campaign asset... that the rich are super-awesome at creating jobs. Watch Hanauer's remarks in the clip. 

Here's O'Donnell's interview: