In 2014, Seattle billionaire Nick Hanauer argued that the “filthy rich” like himself and the other 0.1 percent should begin spreading the wealth among the other 99.99 percent.
Well, two years later, Hanauer is still pushing class warfare economics, but apparently he didn’t get his own memo. In fact, while the high-tech venture capitalist, the first non-family investor in Amazon.com — his first home run — is arguing for an increase to a whopping $28 per hour, almost double the random $15 per hour increase that socialist/communists like Bernie Sanders desire, the amount he pays his own employees is lower — much, much lower.
Nick Hanauer is a hypocrite, a spoiled, greedy and guilty hypocrite who wants big, intrusive government to force others to do something he is not willing to do voluntarily, despite his advocacy.
While there are no economic forces, regulations or laws hindering someone from paying their employees a minimum of $28 per hour, the amount he pays — in his own words — is only $9 per hour, about 2/3 less than what he’s proposing.
“What I said was that if the minimum wage had tracked the wages of the top 1 percent, today it would be $28. If the minimum wage had tracked the increases in productivity in our economy over the last 30 years it would be about $22,” Hanauer told KIRO Radio’s Jason Rantz. “As high as $15 sounds, my instinct is that you could push it all the way to $28 over time and society would look a lot better than people think it would.”
“In the audience, people shook their heads,” he said. “I know that sounds completely insane. But how we feel about the future is gated by our imaginations. The (federal) minimum wage today is $2.13 plus tips … so $28 is a long ways from there.”
“You don’t pay your workers $15 an hour,” Rantz told Hanauer. “If you go into business in North Carolina, reports are that you pay your workers $7.25.”
“We pay more than that, but it’s true that we don’t pay $15. We pay like $9,” Hanauer responded. “It’s a fair point. We don’t pay $15 and I advocate for $15.
Boom! Excellent work by KIRO Radio’s Jason Rantz!
If Nick Hanauer is feeling guilty about his massive wealth, he should lead the way and start paying his employees more. Lead by example, pal.