August 26, 2014 at 10:00 AM Multi-millionaire Nick Hanauer says he and his fellow super-rich are killing the goose — the American middle class — that lays the golden eggs.
Federal Reserve Chair Janet Yellen, right, speaks with Ady Barkan of the Center for Popular Democracy as she arrives for a dinner during the Jackson Hole Economic Policy Symposium at the Jackson Lake Lodge in Grand Teton National Park near Jackson, Wyo. Thursday, Aug. 21, 2014. (AP)
Nick Hanauer is a millionaire many times over. An entrepreneur. An investor. He was one of the first investors in Amazon.com. Has started more than 30 companies. Sold just one to Microsoft for $6 billion, cash. He’s got a pile of fancy homes. The plane. The yacht. His own bank. And a message for his fellow American super-rich: If we don’t figure out how to re-balance the wealth in this country and save the middle class, it’s all coming down. The country. The plutocracy. The works. This hour On Point: Nick Hanauer, multi-millionaire, and his message for the super-rich.
– Tom Ashbrook