Tuesday, December 3, 2013

Fat cat calls for higher taxes on fat cats

Needless to say, that makes Nick Hanauer my kind of fat cat.

When rubes like me argue that lower taxes on richer people accomplish nothing but draining the treasury, we are dismissed as envious know-nothing pinkos.

It's not quite as easy to dismiss Nick Hanauer. He's one of them, a bona fide .1 percenter.

The argument that cutting taxes on "job creators" stifles job creation assumes that it's the speculators and hedgies who create jobs. As Hanauer points out, if lowering tax rates on the super-rich created jobs, America would be awash in jobs after the last fifty years of tax slashing for the rich.

Look around you.

Is America awash in jobs?

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