Are middle class consumers the real job creators?
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Tech investor and entrepreneur Nick Hanauer gave a TED talk in March on income inequality and how that plays out in politics and the economy. The talk, which is part of a long series of short presentations by Technology, Entertainment and Design, never made it on the organization's site.
In the talk, Hanauer argues that the wealthiest people aren't actually the job creators and aren't fueling economic growth.
"In a capitalist economy, the true job creators are consumers, the middle class," Hanauer said in the TED talk. "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."
The video ended up going viral after TED said it was too politically controversial to post. Hanauer will join The Daily Circuit Friday to talk about his theory. Jim Tankersley, economics correspondent for National Journal, wrote a story about Hanauer and will also join the discussion.
VIDEO: Hanauer TED talk
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