Obama is right: Government creates the jobs

Obama said something that ticked off a lot of entrepeneurs and investors when he said government creates jobs to support his belief that the rich - not even the top 1% but really meaning people making tens of millions a year - should pay more even if it only adds up to hundreds of billions a year. Every little bit helps.

The article below discusses why it wasn't - for instance - Apple that created the jobs. It instead explains through a simple thought experiment with a model economy, that the normal needs (food, shelter, etc) need to be handled in a way such that people have disposal income such that they - the consumers - can buy the iPads. The government's role is making sure those normal needs are cared for by

As such, ego and philisophical discussions aside, Obama is right no matter how much die-hard capitalists will want to find fault in what he said.

More info here: http://www.businessinsider.com/millionaires-island-2011-12

Beyond informative, this article is entertaining. In closing, it isn't surprising to believe that CEOs and other top execs good at manipulating markets, governments, and the like to make sales and acquire the innovating companies so they can say they innovate would be able to argue that they are the ones doing all the hard work and should be rewarded for it. However, they are not correct. Congrats, you won the game, now close the Monopoly box and put your Monopoly money back inside so others can use it.

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