To the Editor:

While I understand local Democrats taking shots at Mr. Romney, I don’t feel the collection of statistics, the historical reference and Nick Hanauer’s TED Talks quote recently referenced by Mrs. Murray supports the conclusion of her article.  While the middle couple of paragraphs of Mrs. Murray’s article offer up a couple of facts that would make for good debate, neither are closely tied to job creation.
As for Hanauer’s TED talk, while it has gotten some attention from the left, it has been widely dismissed by most economists.  Asked why Hanauer’s video was not put on-line, TED curator Chris Anderson said in his blog , “…It included a number of arguments that were unconvincing, even to those of us who supported his overall stance. The audience at TED who heard it live (and who are often accused of being overly enthusiastic about left-leaning ideas) gave it, on average, mediocre ratings.”
Hanauer has had success as a venture capitalist. That does not make him someone whose opinion should be held in high regard concerning matters of macro-economics. His college degree is in philosophy, not economics. When trying to understand the complex relation between tax policy and economic growth, one should look to sources more qualified than Mr. Hanauer.  Many Noble Prize winning economists believe that if you want to support jobs and economic growth, then you must encourage people to make capital investments.  Favorable tax treatment of capital gains does just that.
It is clear that President Obama’s policies of more regulation, bigger government and more taxation are not working.

Aubie Knight
Madison
Via e-mail

Printed in the June 7, 2012 edition