TED talk: It's the middle class consumers, not the rich who create jobs

[kılıç_mehmet]

Well, the "rich", do not really concern themselves with the creation of jobs. They seek to minimize employees, if they can. If they wish to expand, they take in employees according to their need. The middle-class, on the other hand is there to be employed, or to employ people in the name of their own superiors, according to need.

Ok, the business and finance world is not something I know much about but here's overly simplistic take on the situation. If it helps, imagine that I am writing this in crayon. This year when we did our tax return many of the deductions that had been available to us in the past were not available to us this time because they nixed these deductions. Had we had that money we would have spent it, thus creating more demand. I am one person with a very small home business. There are many many more people like me. Most of us would have spent the money that the government took from us this year. Collectively that's a lot. and it's just a tiny example in a sea of many such examples. Perhaps the speaker has it right. I don't know though.

You never think of hoarding your money? Like putting it in a bank for future use? You have immidiate need to spend it?