The Rich: Job Creators?

TED describes itself as a "nonprofit devoted to Ideas Worth Spreading."  The acronym stands for "Technology, Entertainment, Design," and it launched in 1984.  They now note on their website that their scope has become even broader.  

But when venture capitalist Nick Hanauer spoke at TED recently about job creation and taxes his speech was not posted on the TED website.   Hanauer complained.  Subsequently, TED head Chris Anderson posted the remarks on YouTube and accused Hanauer of making up a controversy.   

Anderson Blogged, "The talk tapped into a really important and timely issue. But it framed the issue in a way that was explicitly partisan. And it included a number of arguments that were unconvincing, even to those of us who supported his overall stance. The audience at TED who heard it live (and who are often accused of being overly enthusiastic about left-leaning ideas) gave it, on average, mediocre ratings."  

Anderson continued,"We discussed internally and ultimately told the speaker we did not plan to post. He did not react well. He had hired a PR firm to promote the talk to MoveOn and others, and the PR firm warned us that unless we posted he would go to the press and accuse us of censoring him. We again declined and this time I wrote him and tried gently to explain in detail why I thought his talk was flawed"

Here is Hanauer's speech, the link is taken from YouTube.  In essence, Hanauer claims that the idea that the rich are job creators is "upside down."  He says consumers are jobs creators because they buy products and services.  Hanauer, who has made a fortune backing such firms as Amazon, notes that, "I own three cars, not three thousand." He says it is not right to tax the rich at 15%, the capital gains rate, and the middle class at 30%.  He points out that the middle and poorer classes make up most of the consumers.  His remarks appeared to receive enthusiastic applause.  Listen to his talk and judge for yourself.

TED describes its mission on its home page: "We believe passionately in the power of ideas to change attitudes, lives and ultimately, the world. So we're building here a clearinghouse that offers free knowledge and inspiration from the world's most inspired thinkers, and also a community of curious souls to engage with ideas and each other...it is an ever-evolving work in progress."   

A work in progress, indeed.

Rejoice Egypt, Rejoice!

In a historic day that will resonate throughout the Arab world, Egyptian leader Hosni Mubarak has stepped down. But, as millions of Egyptians celebrate throughout the country, soon their attention will turn to an uncertain future.

This is a huge victory for the people of Egypt and for democracy. Leaders of countries such as Jordan, Yemen and Saudi Arabia are closely watching events unfold. No doubt, so are the leaders of Iran and China. Their people are restless and thirst for freedom and a better way of life. Will the voices of these people now be heard?

For sure, Mubarak was a great friend to America. He supported and maintained peace with Israel. But he also obscenely stole billions of American taxpayer dollars flowing into Egypt as military aid. It is estimated that his family, steeped in corruption, has amassed a fortune of $70 billion, making the Mubarak clan among the wealthiest in the world.

Even worse, Mubarak brutalized his people with a highly repressive regime. He ruthlessly controlled every aspect of his country and his police harshly suppressed dissent by jailing and beating those who spoke up against his rule. Since taking over thirty years ago, following the assassination of the Egyptian Anwar Sadat, Mubarak has maintained a state of emergency in Egypt. He snuffed out any attempts to form opposition parties. Some friend.

Now two weeks of largely peaceful demonstrations, involving millions of Egyptians from all walks of life, have toppled Mubarak. Televised on free media throughout the world, viewers were rivited to their sets watching the dramatic developments unfold. More important was the role of social media sites such as Facebook, YouTube and Twitter. And a local Google executive, who was arrested and then released by police, became a hero and leading figure to demonstrators. This was truly a social revolution.

As the pressure built, Mubarak tenaciously tried to hang on to power. But those around him could see what he would not accept; his time was up. So when Mubarak refused to step down it is reported that some military leaders threatened to remove their uniforms and join the demonstrators. Their stubborn leader, who had vowed to die in his homeland, finally agreed to relinquish his power and fled to the Egyptian resort town of Sharm el Sheikh. It is unclear if this will be his last stop.

The Egyptian military has taken control of the country. This is a transformative moment, but it is also fraught with uncertainty. The demonstrations have brought the country's economy to a halt as banks and many businesses have been closed for nearly two weeks. When will people return to work? Will the election scheduled for September take place? Who will emerge? What role will the Muslim Brotherhood, responsible for Sadat's assassination, play in the country? What role can America play in assuring a peaceful transition to democracy? There is an old Egyptian proverb, "Do not rejoice over what has not yet happened."

President Barack Obama has handled this crisis well. He spoke out for a democratic process, freedom and an end to repression. He encouraged a peaceful transition to a more representative government. He could not call for the overthrow of Mubarak without risking the ire of other Arab states. But now the real work begins for the American government.

Isis is the ancient Egyptian goddess of motherhood, healing and magic. The people of Egypt will no doubt welcome her help as they begin to build their future.

Meanwhile, rejoice Egypt, rejoice!