Tornado Alley (PROG)

[fuagf]

Nick Hanauer (repeat) has to be here in support of Henry Blodget's view of Harry Binswanger's position ..

The 99% Owe “A Debt of Gratitude” to the 1%: Harry Binswanger .. one bit ..

The former college professor and board member of the Ayn Rand Institute wrote an incendiary column this month in Forbes [ http://www.forbes.com/sites/harrybinswanger/2013/09/17/give-back-yes-its-time-for-the-99-to-give-back-to-the-1/ ], arguing that “the community should give back to the wealth-creators” and the world should be indebted to the rich and powerful for “their enormous contributions to our standard of living.”
http://finance.yahoo.com/blogs/daily-ticker/99-owe-debt-gratitude-1-harry-binswanger-153327379.html

.. that's just over half down in yours .. beneath it one other ..

Ayn Rand Disciple Says CEOs Deserve All the Credit – Henry Blodget Disagrees
By Henry Blodget | Daily Ticker – September 24, 2013 .. bits ..

This argument is the logical extension of an argument that many American entrepreneurs and investors make, which is that they are the country's "job creators" and therefore deserve almost all of the country's income and wealth.

It's no surprise why this argument is popular among entrepreneurs and investors:

[...]

What actually "creates jobs" in an economy is a healthy economic ecosystem, one comprised of entrepreneurs, investors, employees, and, critically, customers.

Successful entrepreneurs do play a valuable and important role in this ecosystem: They start companies that develop products and services that people want, and they guide the companies that produce them.

Successful investors also play a valuable and important role: They provide the capital necessary for companies to invest in new products and services.

But without talented employees who make a company's products and services, and--just as important--without financially healthy customers who buy them, entrepreneurs and investors can't create any sustainable jobs.

So to suggest that entrepreneurs and investors deserve all the credit or compensation in the economy is absurd.
http://finance.yahoo.com/blogs/daily-ticker/ayn-rand-disciple-says-ceos-deserve-credit-henry-164112682.html [with comments]

.. as Nick Hanauer is one of the successful multimillionaire entrepreneurs who by any margin exhibits more insight and understanding than Harry Binswanger about how an economy works, and who agrees with Henry Blodget's position that Harry Binswanger's position is absurd .. you first introduced Nick in this one .. the bottom article ..

Too Hot for TED: Income Inequality .. bit of ..

There’s one idea, though, that TED’s organizers recently decided was too controversial to spread: the notion that widening income inequality is a bad thing for America, and that as a result, the rich should pay more in taxes.

TED organizers invited a multimillionaire Seattle venture capitalist named Nick Hanauer – the first nonfamily investor in Amazon.com – to give a speech on March 1 at their TED University conference. Inequality was the topic – specifically, Hanauer’s contention that the middle class, and not wealthy innovators like himself, are America’s true “job creators.”

“We’ve had it backward for the last 30 years,” he said. “Rich businesspeople like me don’t create jobs. Rather they are a consequence of an ecosystemic feedback loop animated by middle-class consumers, and when they thrive, businesses grow and hire, and owners profit. That’s why taxing the rich to pay for investments that benefit all is a great deal for both the middle class and the rich.”
http://www.nationaljournal.com/features/restoration-calls/too-hot-for-ted-income-inequality-20120516 [with comments]
.. from again a biggie.. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75720075

and again here in Super-Rich Irony .. roughly halfway down ..

“If you are a job creator, your fifteen-per-cent tax rate is righteous. If you aren’t, it is a con job,” Hanauer told me. “The idea that the rich deserve to be rich is a very comforting idea if you are rich.” Referring to Obama’s “You didn’t build that” remark, at a rally in Virginia in July, which became a flashpoint with the right, Hanauer said that “the notion that you built it yourself is what you need to believe to feel comfortable with yourself and your desire not to pay too much in taxes.”
http://www.newyorker.com/reporting/2012/10/08/121008fa_fact_freeland [ http://www.newyorker.com/reporting/2012/10/08/121008fa_fact_freeland?currentPage=all ] [Cooperman's letter to Obama embedded at
http://dealbook.nytimes.com/2011/12/05/a-rich-mans-grievance-with-obama/ (with comments)]
.. another meaty one .. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80116189

As you know i've linked Hanauer a number of times .. one will do here ..
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=83623185

oh .. h/t to Tom Palome .. about halfway down in the one this post replies to,
just above Binswanker .. sorry Harry, but that position of yours deserves the tag ..

ps: out of interest i met a lady today who is a carer in Sydney, having a relax between jobs .. ooi, i asked her how much she was paid .. she said just over $20/h, and was horrified when i told her in the US, as far as i knew, she would be lucky to get $10 ..