If I have to hear another sound clip of Mitch McConnell droning on about how asking a tiny, tiny fraction of the very wealthiest Americans to pay a tiny, tiny fraction of their vast wealth in order to help millions upon millions of people is going to hurt job creation, I might just spend the rest of my life wearing the Sensory Deprivator 5000.
I recently found this BusinessInsider article about an editorial written by Nick Hanauer, who made a fortune in the obviously lucrative feather and museum framing businesses. But never mind his businesses. In his editorial he makes the point that while entrepreneurs do hire people, it’s the customers who do the job creation. Without demand, why increase supply? He goes on to talk about how by allowing the wealth gap to widen as much as it has, we are decreasing the purchasing power of the large middle class, thereby reducing overall demand and killing jobs. Now of course it’s not nearly as cut and dried as that, but that’s the gist, and it seems to me like it’s a phenomenon that is fairly easy to understand and pretty difficult to refute. After all, who is going to argue that a business can survive without demand for its products?