Wealthy

  • 08.31.14

    Nick Hanauer: Beware, Fellow Plutocrats, The Pitchforks Are Coming

    In this video, "0.1%-er", Nick Hanauer talks about capitalist economies and why the notion that enriching the rich is best for the country is completely wrong. He argues that a system where the rich have everything and the poor have nothing is inherently unstable, and instead, when wages are raised for the lower a...

    In this video, "0.1%-er", Nick Hanauer talks about capitalist economies and why the notion that enriching the rich is best for the country is completely wrong.

    He argues that a system where the rich have everything and the poor have nothing is inherently unstable, and instead, when wages are raised for the lower and middle classes (specifically the minimum wage) those people have the money to spend on things that they would not have otherwise been able to buy (e.g. if restaurants pay their workers enough to be able to eat out at restaurants, that is great for the restaurant business.) 

    Hanauer states that capitalism is the best system out there, but that it is inherently flawed to benefit the rich and therefore needs to be regulated so that this country can benefit all that live in it.