Nick Hanauer: Minimum Pay Raise

Nick Hanauer Money Quote saying the amount earned is directly proportional to the amount spent for minimum wage workers – when. there is enough to cover necessities, it is all spent. Nick Hanauer said:
 

 

“The person earning the federal minimum wage of $7.25 isn’t going out to eat at restaurants. They’re not taking piano lessons. They’re not going to the gym or the yoga studio. They’re not sending mom flowers on Mother’s day. What good is this person in the economy? If you raise it to $15 an hour, they’re doing all of those things” — Nick Hanauer

In this quote, Nick Hanauer argues that raising the minimum wage from $7.25 to $15 per hour would significantly benefit the overall economy. He suggests that at the current low minimum wage, people can only afford basic necessities and have no extra money left over to participate in other sectors of the economy through discretionary spending.

However, if the minimum wage was higher, these same individuals would now have more purchasing power to frequent restaurants, take classes, join gyms, and purchase goods and services from other businesses.

Hanauer implies that a higher minimum wage would create a cycle of greater consumer demand and spending that spurs broader economic activity, rather than the current situation where low-wage workers primarily spend all their earnings on just survival needs.

Nick Hanauer: Greed Sociopath

Nick Hanauer Money Quote saying that Gordon Gecko was wrong in the 1987 movie ‘Wall Street’ and instead calls greed a mental illness. Nick Hanauer said:
 

 

“Greed is not good: Being rapacious doesn’t make you a capitalist — It makes you a sociopath” — Nick Hanauer

Nick Hanauer is saying that greed and being excessively rapacious (eager to acquire wealth or possessions by aggressive or dishonest means) does not make someone a true capitalist.

True capitalism involves operating businesses and acquiring wealth through legitimate means that create value for customers and society. However, being overly rapacious and caring only about acquiring wealth for oneself in harmful or dishonest ways is a sign of sociopathy, which is an antisocial personality disorder involving lack of empathy and remorse.

In this quote, Hanauer is arguing that true capitalism should not promote or celebrate excessive greed and rapacious behavior that harms others or society.

Eric Liu & Nick Hanauer: Money Good?

Eric Liu and Nick Hanauer Money Quote saying we mustn’t equate profitability (ability to make money) with value to the economy. Eric Liu and Nick Hanauer said:
 

 

“Just because you can make money doing something doesn’t mean it is good for the society” — Eric Liu and Nick Hanauer

This quote from Eric Liu and Nick Hanauer suggests that just because an economic activity or business model allows someone to profit, does not necessarily mean it has a positive impact on society as a whole.

They imply that what is financially advantageous for an individual or company may not align with what is collectively beneficial.

The quote highlights the view that making money is not the only standard by which an action or industry should be judged – its broader consequences and social costs/benefits must also be considered.

Even if significant private wealth can be generated, an activity could still be detrimental if it undermines public well-being, equality, health or other societal priorities in the long run.

Nick Hanauer: Economic Self Interest

Nick Hanauer Money Quotation saying significant difference between greed driven lobbying and being an advocate for societal benefits. Nick Hanauer said:
 

 

“A distinction can be drawn between the people who pour energy and money into policies that benefit other people directly and not themselves, and people who pour energy and money into policies that only are focused on their narrow, near-term economic self-interest” — Nick Hanauer

In this quote, Nick Hanauer is drawing a distinction between two types of people who get involved in politics and policymaking. The first type pours their energy and money into policies that are intended to directly benefit others in society rather than just themselves.

The second type only focuses on policies that serve their own narrow economic self-interest in the short-term, without regard for how those policies might impact others.

Hanauer seems to be arguing that a healthier system involves people supporting policies aimed at benefiting society as a whole, not just policies that exclusively promote their personal economic gains without consideration for others.

Nick Hanauer: Intimidation Masquerading

Nick Hanauer Money Quotation saying theories of trickling wealth are an attempt to distract and intimidate instead of solving. Nick Hanauer said:
 

 

“Trickle-down economics, the idea that the richer the rich get, the better off everyone else will be is a scam. It’s a magic trick. It’s an intimidation tactic masquerading as an economic theory” — Nick Hanauer

In this quote, Nick Hanauer is strongly criticizing the theory of “trickle-down economics”. He argues that the idea that making the rich even richer through tax cuts and other policies will somehow benefit everyone else is a “scam” and not grounded in real economic theory.

He calls it a “magic trick” meant to deceive people into thinking it’s valid, when in reality it does not work as promised.

Hanauer believes trickle-down economics is essentially an “intimidation tactic” used by proponents of such policies to push their agenda, rather than an actual sound economic theory backed by evidence and results.

Overall, he is dismissing trickle-down economics as invalid and more of a political tactic than a real solution to economic issues.

Nick Hanauer: Raising Wages Increases

Nick Hanauer Money Quotation saying Increasing available spending money among workers means they’ll buy more and create demand. Nick Hanauer said
 

 

“Raising wages increases demand, which increases hiring, which in turn increases wages and demand and profits” — Nick Hanauer

In this quote, Nick Hanauer is arguing that raising wages for workers will have a positive effect on the overall economy. He claims that higher wages will increase consumer demand as workers have more money to spend.

This increased demand then encourages businesses to hire more employees to meet the higher demand, which further raises wages. And this cycle of higher wages leading to more demand leading to more hiring and higher profits can continue as each part reinforces the others.

So in essence, Hanauer is making the case that raising minimum wages does not necessarily hurt businesses and the economy, but rather can spark economic growth by putting more money in the hands of low-income consumers who will spend it, driving demand and job creation.

Nick Hanauer: Plutocrats, Be More Inclusive

Nick Hanauer Money Quotation saying the wealthy need to work toward more inclusive society for continued growth. Nick Hanauer said:
 

 

“Fellow plutocrats, I think it may be time for us to recommit to our country, to commit to a new kind of capitalism which is both more inclusive and more effective, a capitalism that will ensure that America’s economy remains the most dynamic and prosperous in the world” — Nick Hanauer

In this quote, Nick Hanauer is directly addressing other wealthy “plutocrats” like himself. He is arguing that it may be time for the wealthy elite to re-commit themselves to supporting America’s economy and country in a new way.

Hanauer calls for a “new kind of capitalism” that is both more inclusive of all citizens and more effective at generating broad prosperity.

He wants plutocrats to embrace a form of capitalism that shares benefits more widely and ensures economic opportunity for more people. By doing so, Hanauer believes this can keep the American economy as the most dynamic and prosperous in the world.

So in essence, he is pushing other wealthy individuals to support reforms to make capitalism work better for all Americans, not just the rich, through a more inclusive and effective system that maintains U.S. economic strength.

Steve Sack, The Minneapolis Star Tribune

Nick Hanauer: Plutocrats Made in America

Nick Hanauer Money Quotation saying wealthy need to understand the value in a strong middle class in capitalism. Nick Hanauer said:
 

 

“We plutocrats need to see that the United States of America made us, not the other way around; that a thriving middle class is the source of prosperity in capitalist economies, not a consequence of it” — Nick Hanauer

In this quote, Nick Hanauer is again directly addressing other wealthy “plutocrats” like himself. He is arguing that the plutocratic class needs to recognize that it was the United States as a whole that enabled their wealth, not the other way around where they created the country’s prosperity.

Additionally, Hanauer states that a thriving middle class is the true source and driver of economic prosperity in capitalist systems, rather than the middle class being just a consequence or outcome of plutocratic-led growth.

In essence, he is pushing other wealthy individuals to acknowledge their debt and role in supporting a strong middle class in America, since that middle class is what fuels broad-based economic success, in contrast to the idea that the wealth of the few alone creates prosperity for all.