Sunday, August 28, 2016
Rich Man's Warning To The 1% - "The Pitchforks Are Coming"
Nick Hanauer is in the 1% of the wealthiest Americans. But he understands that the Republican "trickle-down" economic policy, designed to benefit the wealthy and the corporations, actually benefits no one. He has written an open letter to his fellow members of the 1%, asking them to take action to change the nation's economic policy to a policy fairer to all Americans. He understands that a fairer policy that reduces economic inequality would benefit everyone -- even the rich.
Here is a part of what he has written (although I urge you to read the whole thing):
You probably don’t know me, but like you I am one of those .01%ers, a proud and unapologetic capitalist. I have founded, co-founded and funded more than 30 companies across a range of industries—from itsy-bitsy ones like the night club I started in my 20s to giant ones like Amazon.com, for which I was the first nonfamily investor. Then I founded aQuantive, an Internet advertising company that was sold to Microsoft in 2007 for $6.4 billion. In cash. My friends and I own a bank. I tell you all this to demonstrate that in many ways I’m no different from you. Like you, I have a broad perspective on business and capitalism. And also like you, I have been rewarded obscenely for my success, with a life that the other 99.99 percent of Americans can’t even imagine. . . .