The Pitchforks Are Coming… For Us Plutocrats - Nick Hanauer - POLITICO Magazine: "I see pitchforks."
'via Blog this'
An interesting letter from a most interesting personality. I heard him on the Lars Larson show yesterday on the way home. He's "not a billionaire" in that his net worth is only in the high 950s. $950 million that is.
He has a very interesting economic theory in which wealth is created not by production, but by consumerism. And to have consumerism, you need consumers- you need people making enough money to buy what you are selling. Therefore, the inflation of the minimum wage is a good thing- because it means more people, who have the money to pay higher prices.