let's bring in nick hanauer here and have this conversation. he "gardens the democracy" and he's the cofounder of the true patriot network. nick, great to have you here. >> great to see you cenk. >> cenk: we talked about how tax cuts for the rich do not create jobs. you did a great job proving that. what do you think create jobs. >> jobs are a consequence of cycle of life like feedback loop between customers and businesses. what creates jobs are customers. in an economy like ours in the united states the more that the middle class thrives, the more stuff they buy, the more jobs that are created. anyone who has ever run a business knows that capitalists hire more people as a course of last resort. we do did it if and only if the rising customers demand it. calling us job creator is disingenuous. >> cenk: i've theory that if you race tax it is will create more jobs. if we have to pay a lot of taxes. i don't want to pay that. what do i do? before the year is up, i hire more people because i don't want to pay those taxes. i invest more in the compan

an orthodoxy that was challenged in march by venture capitalist nick hanauer. in dress for the ted conference, a web seminar series that boosts of the rivetting talks by remarking people hanauer insists mid class consulars are the real creators, and that our tax system which favors the rich has it exactly backwards. joining me nick hanauer, thanks for joining us. >> happy to be here. >> eliot: first, let's get this out of the way. what happened with ted. they're known as as a come positive tore of great speeches. why wouldn't they post it, and what's the outcome? >> well, the speech i made and the arguments i made are an attack on the economic orthodoxy that a lot of people have a huge stake in. obviously if everyone believes that rich people like me are job creators, essentially the center of the economic universe, the extraordinary privileges that we enjoy like a tax rate which is you know, 50% lower than the taxes on ordinary work are reasonable and justified, right? you can't get to a situation where i get to pay 15% on cap gains, dividends and cared intere

it's actually the other way around. >> joining me now for an exclusive interview is nick hanauer, author gardens" nick, your message is a very simple one. it's taught somewhere around the first week or so of any kind of economics course. which is that consumer demand rules everything. and it's something that henry ford knew. he knew when he was making -- when he was mass producing cars that the workers in his factory had to be able to afford to buy them to generate and keep that demand going. >> correct. correct. only consumer demand can animate hiring. although it's not quite true that economics textbooks reflect that idea because that idea is -- what's necessary in order to reach that conclusion is to understand that the economy is an ecosystem and subject to the same kinds of feedback loops that natural ecosystems are. once you understand that, it becomes transparentally obvious that this trickle down orthodox is a complete and bogus lie. and that the true job creation lies in animating consumer demand and the feedback loop that comes from it. >> i want to show one more piece of your

now and i'm going to speak to nick hanauer about the doom and gloom report coming from the congressional budget office this week the ward of the u.s. economy going off of the fiscal cliff and falling back into recession that's if scheduled tax cuts expire and budget cuts go into effect so what's congress to do then mitt romney finally released an education plan this week calling it the civil rights issue of our era but ours policy is really going to address that david sirota is going to join us to break down the plan step by step from k. through twelve to higher education all of that and more for you tonight including a dose of happy hour but first take a look at what the mainstream media decided to miss. well there's a lot going on these days and the mainstream media has been selflessly dedicating themselves to covering every single campaign speech the twists and turns of the facebook i.p.o. and this seemingly never ending trial. we are awaiting a possible verdict in the john edwards corruption trial the jury in its fifth deliberations it is day five of deliberations and we are still wa

economy regardless of what greece does speak with patriotic million or nick hanauer what lawmakers should be doing to reboot our economy and why relying on millionaires and billionaires to create jobs isn't the way to save our economy move over lockheed and boeing big pharma has replaced the defense industry is the biggest criminal do fraud or in the united states coming up how we the people to flick the switch and make corporations think twice about screwing us in the future and later many americans cringe at the thought of starting a day without a cup of coffee what new research tells us could make that cup of joe more than just a wake up tool. you need to know this europe is now drawing up plans for something that was unthinkable just a few months ago the departure of greece from the euro zone as greece prepares for elections next month which will likely give anti austerity party's control of the government putting further bailouts in jeopardy european nations are quietly drafting plans to mitigate the economic pain from a greek default and exit almost in the planning is on the hosh fo

tonight host tom hartman will grill venture capitalist and co-founder of the true patriot network nick hanauer ever lying on the super rich to fix the economy is the only way to go and later a special forces.

well it's got a busy show today at first we're going to speak with nick hanauer about this doom and gloom report that came out from the congressional budget office this week that says that if indeed the bush tax cuts expire if all of the budget cuts go into effect on january first of next year we're going to fall off a fiscal cliff and go into another recession so we're going to talk about maybe some of the options that are out there for congress to deal with the and david serota is going to join us to talk about mitt romney's education plan that he finally revealed that will kind of compare it with barack obama and see why it took everybody so long to even start talking about this when it comes to the presidential race in the first place and that is coming up next on the ellen show a lot of thanks for that update but that's going to do it now for the news for more on the stories we covered you can check out our youtube channel it's youtube dot com slash r t america and you can also check out our website it's r t dot com slash usa and to find out what i'm doing when i'm not reporting the