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Obama calls Steve Jobs' success a prime example of American wealth

post #1 of 120
Thread Starter 
During a speech Wednesday, U.S. President Barack Obama referred to Apple CEO Steve Jobs as an example of the "American dream" and one whose wealth should be celebrated.

Obama made the comments in response to a reporter's question, Cnet reports.

"What is...a fact is that people in the top 1 percent, people in the top one-tenth of 1 percent, or one-hundredth of 1 percent have a larger share of income and wealth than any time since the 1920s," said Obama. "Those are just facts. That's not a feeling on the part of Democrats. Those are facts."

"And something that's always been the greatest strength of America is a thriving, booming middle class, where everybody has got a shot at the American dream. And that should be our goal. That should be what we're focused on," the President continued. "How are we creating opportunity for everybody? So that we celebrate wealth. We celebrate somebody like a Steve Jobs, who has created two or three different revolutionary products. We expect that person to be rich, and that's a good thing. We want that incentive. That's part of the free market."

Obama met with Jobs in October to discuss "American competitiveness and education" with him. According to White House press secretary Robert Gibbs, the President was "eager" to talk to Jobs.

Jobs recently made Forbes magazine's annual list of the wealthiest Americans, climbing one spot to 42nd place. As of September, when Forbes calculated its results, Jobs' estimated net worth was $6.1 billion, up from $5.1 billion in 2009.

Most of Jobs' wealth comes from shares of Walt Disney Co. that he received when the media conglomerate acquired Pixar in 2006. Disney shares recently hit a 52 week high of $38.

Shares of Apple have also climbed as of late, passing the $300 mark in October. The Cupertino, Calif., company made news this year when it passed up Microsoft in terms of market capitalization to become the world's largest technology company. In September, Apple overtook PetroChina Co. to become the world's second largest company by market value.
post #2 of 120
Quote:
Originally Posted by magicj View Post

Obama likes Apple? Apple now officially doomed.

read closely... he likes Steve Jobs..... lol....

mayb i am misreading, but i didn't see Obama liking Apple ever mentioned



what Steve has should pretty much be the cap for modern executives... i mean he has launched ipad and iphone/itouch and worked a lot on making them..... probably more than most executives do..... like a few 100% times more

PC means personal computer.  

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PC means personal computer.  

i have processing issues, mostly trying to get my ideas into speech and text.

if i say something confusing please tell me!

Reply
post #3 of 120
Maybe Obama forgot that Apple products are assembled using outsourced manufacturing jobs. The unions might not be too happy about that.
post #4 of 120
Sorry, but doesn't Apple pay Jobs $1 a year? And don't they owe him money that he hasn't even claimed?

We didn't praise wealth from the 1910's to the 1980's with tax rates for the wealthy between 60 and 90%, but how many greats can you think of from that time?

Science can show that money can't be thrown at something people to make them produce more. They do it because they want to, but also because they can.

When Steve started Apple he said it was spiritual, not business. And not tax breaks "incentives".
post #5 of 120
Obama doesn't realize that 'The American Dream' for many people is...........JUST TO HAVE A JOB!!!!
Obama's just trying to stroke APPLE to get on the good side of people. Well it won't work.
post #6 of 120
Obama's at it again...hinting to Steve to share some of his wealth to fund his next election campaign.
post #7 of 120
Amazing how pessimistic and negative this thread has become and it's just started.
post #8 of 120
Steve Jobs is about true innovation and creating value, in many ways. Sure, he's not perfect, but the innovation and creating value is what is absolutely critical for the USA in a global economy... Not shifting around trillions of "nonreal money" in the corrupt and flawed financial system.

I tell you now, Americans, if there are just 5 other American companies that have done what Apple has done, your company, the USA, will be much better off in the global market.


Sent from Snootyville
10 posts more to 6,000!
muah ha ha ha ha ha
post #9 of 120
Quote:
Originally Posted by simtub View Post

Obama's at it again...hinting to Steve to share some of his wealth to fund his next election campaign.

I'm afraid Obama won't make it another term. It concerns me somewhat, but the election will probably see-saw over the next 10 years, depending on how soon the *real recovery* happens.
post #10 of 120
Quote:
Originally Posted by nicolbolas View Post

what Steve has should pretty much be the cap for modern executives...

Would you mind explaining that?

And also what gives you or anybody else the right to impose such a limit on a private citizen?
post #11 of 120
Well, if you think about it, SJ is rich not only because he can focus teams at Apple into creating great products, but also because of the massive wage difference between China and the US.

50 years ago, if SJ did something similar, the trickle-down effect within the US would be order's of magnitude greater, because he would have to actually manufacture the devices largely within the US [so he wouldn't be as wealthy, but a whole bunch more American's would have pretty good paying jobs].

Think of the pile being the same, just more spread out over more people.
post #12 of 120
America can't be recovered without at least another 50 years of work. Bush fucked you all real good and Obama just continues the trend. Not to mention that the people are locked into 1984 surveillance, manipulated by the media, and willing to stampede someone's grandmother over a TV that's 10% off during Black Friday.

In other words, they can vote for Obama, Palin, Paris Hilton -- it doesn't matter. You're fucked unless there's a complete overhaul and the vast majority of people lack the intellectual capacity to enact that anyway. If anyone does begin a coup it will be rednecks with guns and Bibles -- and teabags. Have fun.
post #13 of 120
So, beleaguered Apple Computer finally makes good. World's #2. Not too bad. Also impressive, Steve's side project made him more money than Apple.

If Steve had worked his options a little better like Larry Ellison, he be up there above $40B easily.
post #14 of 120
Why does someone need 40 Billion dollars anyways? I mean seriously what's the point? You can never spend it all and in fact you're probably hampered more by that wealth than actually helped by it.

The way the system is setup (by rich people) is that they get richer, off the work of those with less than them, whether it be in the US in factors during the industrial revolution, banks making loans, or by taking advantages of cheap labor in other countries.

The only reason you'd ever need that kind of money is to reinvest it in politics to make even more money. I think it should be illegal to donate money towards politics at all-the exact opposite as the recent Supreme Court ruling, because it's essentially bribery. It's what's destroying the United States. Rich get even richer and pretend to give small handouts to the poor, all while squeezing the middle class. Yeah, great freaking system.

Or with 50 billion you can donate money to the poor and less fortunate. Shouldn't that be what our government should be doing with it's money?

Since we are such a global economy now, I think if a company wants to use another country's cheap labor they should be taxed enough to pay for the labor that is not being utilized in this country. That would do away with all the trade issues we are having with jobs in China and India and bring back all those lost jobs in the US and fix the unemployment problems plaguing this country.

Just my thoughts...
post #15 of 120
Do not envy wealth. Aspire to it.
post #16 of 120
Goodie for Jobs. When you can convince every customer to pay an extra couple hundred bucks for your commodity product, I guess you get rich. Unfortunately, the world can't sustain a world of capitalist Svengalis
post #17 of 120
I don't get it. The President says Jobs is the model for becoming wealthy yet the story claims the bulk of Jobs' wealth comes from Disney stock appreciation. Isn't that the kind of wealth gain the President often tries to label as "obscene"?
post #18 of 120
I can't find the link, but NPR recently reported a study looking at how wrong the notion of "technological innovation will get our economy going again" is: the iPhone was found to have added something like $2 billion to the US trade deficit since it's manufactured in China.

EDIT: found Wall Street Journal article here
post #19 of 120
Quote:
Originally Posted by magicj View Post

Obama likes Apple? Apple now officially doomed.

Quote:
Originally Posted by toddd240 View Post

Maybe Obama forgot that Apple products are assembled using outsourced manufacturing jobs. The unions might not be too happy about that.

Pathetic political hacks. Get over the fact that he is President.

Quote:
Originally Posted by Hudson1 View Post

I don't get it. The President says Jobs is the model for becoming wealthy yet the story claims the bulk of Jobs' wealth comes from Disney stock appreciation. Isn't that the kind of wealth gain the President often tries to label as "obscene"?

The article did not say that "...the bulk of Jobs' wealth comes from Disney stock appreciation." Read.

Moreover, his Disney wealth came from selling a massively successful company that he created to Walt Disney Co. Every penny of he made from that sale was the result of his entrepreneurial risk-taking.

Oh, I'd like to see a cite for the "obscene" quote. The whole quote.
post #20 of 120
Quote:
Originally Posted by coolfactor View Post

Amazing how pessimistic and negative this thread has become and it's just started.

True. It truly stunning and sad how ignorant and dismissive some people's views can be. (Doesn't matter whether it concerns Obama or Bush.)
post #21 of 120
Quote:
Originally Posted by xSamplex View Post

Goodie for Jobs. When you can convince every customer to pay an extra couple hundred bucks for your commodity product, I guess you get rich. Unfortunately, the world can't sustain a world of capitalist Svengalis

If it weren't for 'capitalist Svengalis' you (and your ilk) wouldn't be posting here. More likely, y'all will be goose-stepping in some Godforsaken place like N. Korea!
post #22 of 120
well isn't that sweet - that's why these miserable democrat politicians inflame class war by trying to pass tax increases on those with less representation? What a joke. Everyone should pay federal tax - if you don't contribute why should you care how the government spends other people's money. Charlie Rangle was right when he said bring the military draft back - that way you'll get people on the streets to protest unfair or bad practices. Worked in 1775, will work again!
post #23 of 120
Quote:
Originally Posted by Habañero View Post

I can't find the link, but NPR recently reported a study looking at how wrong the notion of "technological innovation will get our economy going again" is: the iPhone was found to have added something like $2 billion to the US trade deficit since it's manufactured in China.

EDIT: found Wall Street Journal article here

I think you need to re-read the article. The point was not that technological innovation will not help our economy, the point is the current method for calculating trade deficits is simplistic to the point of being flawed. In the iphone example, China as the last exporter (the final assembly step) gets "credit" for the entire cost of the iphone when China's assembly contribution is actually a small fraction of the cost.
post #24 of 120
Quote:
Originally Posted by anantksundaram View Post

If it weren't for 'capitalist Svengalis' you (and your ilk) wouldn't be posting here. More likely, y'all will be goose-stepping in some Godforsaken place like N. Korea!

I hope you aren't implying that because of capitalism we have freedom and democracy. Because that would be very stupid of you.
post #25 of 120
Quote:
Originally Posted by Yours Smugly View Post

I hope you aren't implying that because of capitalism we have freedom and democracy. Because that would be very stupid of you.

May I suggest you read F.A. Hayek's The Road to Serfdom. Then you may reevaluate your notions of capitalism and socialism.
post #26 of 120
Quote:
Originally Posted by toddd240 View Post

Maybe Obama forgot that Apple products are assembled using outsourced manufacturing jobs. The unions might not be too happy about that.

I'm so tired of hearing comments like this.

So what that things are assembled in other countries? If it was as cheap to do it in the USA they would, that much is obvious. It isn't ever going to be the case (at least anytime soon), that the wages of North Americans in the manufacturing sector are going to be competitive with Asia.

There is no use bitching about something that's systemic. Those jobs are gone, and won't be coming back unless the USA has a complete economic collapse. Is that what you really want?

The only way those jobs will ever leave the Asian economies, is when the Asian middle class expands to the same degree as the US and European economies. Even then, all that will happen is they will move to the *next* poor economy, not back to the USA or Europe. It's possible that today's "made in China" for example, might become tomorrows "made in Africa."
post #27 of 120
Quote:
Originally Posted by AppleInsider View Post

a thriving, booming middle class

Maybe B.O. is forgetting that the top 1% of wealth comes from somewhere - like the lower and niddle class grunts. I wouldn't advocate a communist-type society either, but the rich-poor gap is increasing, and Obama's middle class are the losers, not the gainers, here.

And, as someone else mentioned, Apple's manufacturing jobs are in China, not the U.S... which is fine if your viewpoint is global, not so good if national. This will only get fixed when the U.S. realizes it's minimum wage needs to be dropped to $3.00 - and the next revolution begins as the country's economy stabilizes at its _real_ level.

What an ignorant, suck-up comment by Obama.
post #28 of 120
Quote:
Originally Posted by Yours Smugly View Post

I hope you aren't implying that because of capitalism we have freedom and democracy. Because that would be very stupid of you.

Hey Smugly, name one non-capitalist system that is a democracy (I am, of course, assuming you are knowledgable regarding a working definition of the term).

As an aside, Northern Europe is not non-capitalist, just in case.....
post #29 of 120
Quote:
Originally Posted by Prof. Peabody View Post

I'm so tired of hearing comments like this.

So what that things are assembled in other countries? If it was as cheap to do it in the USA they would, that much is obvious. It isn't ever going to be the case (at least anytime soon), that the wages of North Americans in the manufacturing sector are going to be competitive with Asia.

There is no use bitching about something that's systemic. Those jobs are gone, and won't be coming back unless the USA has a complete economic collapse. Is that what you really want?

The only way those jobs will ever leave the Asian economies, is when the Asian middle class expands to the same degree as the US and European economies. Even then, all that will happen is they will move to the *next* poor economy, not back to the USA or Europe. It's possible that today's "made in China" for example, might become tomorrows "made in Africa."

Thank you for that eminently sensible set of thoughts.
post #30 of 120
Quote:
Originally Posted by kwatson View Post


This will only get fixed when the U.S. realizes it's minimum wage needs to be dropped to $3.00 - and the next revolution begins as the country's economy stabilizes at its _real_ level.

What is the 'real' level?
post #31 of 120
Obama will be criticized regardless of what he does. Some criticisms will be well-reasoned, others will simply be fear-mongering.

As for the issue of manufacturing outside the United States - well, as soon as we stop basing our product purchasing decisions solely on cost, we'll be able to talk about bringing jobs back here. As long as we, as a society, allow price sensitivity to dominate our purchasing decisions, we have made the decision that low cost labor is more important than having manufacturing facilities here in the US.

We need to look within before we blast the likes of Apple for our woes.

What Jobs has done is impressive. And what is most impressive is that he is not afraid to make a decision. He is not afraid to learn from his mistakes. This is something executives in other industries could learn from.
post #32 of 120
Obama doesn't care as much about Steve Jobs' success as he does about getting a bigger slice of his wealth in higher taxes. Like so many liberals and progressives, they feel the government deserves more from them because they can "afford" it. I wish this article had not been posted. Every time I hear Obama praise capitalism I wait for the other shoe to drop.
post #33 of 120
Quote:
Originally Posted by Prof. Peabody View Post

I'm so tired of hearing comments like this.

So what that things are assembled in other countries? If it was as cheap to do it in the USA they would, that much is obvious. It isn't ever going to be the case (at least anytime soon), that the wages of North Americans in the manufacturing sector are going to be competitive with Asia.

There is no use bitching about something that's systemic. Those jobs are gone, and won't be coming back unless the USA has a complete economic collapse. Is that what you really want?

The only way those jobs will ever leave the Asian economies, is when the Asian middle class expands to the same degree as the US and European economies. Even then, all that will happen is they will move to the *next* poor economy, not back to the USA or Europe. It's possible that today's "made in China" for example, might become tomorrows "made in Africa."

That is true, I got some quotes for manufacturing accessories in the U.S. and their prices came higher than my competition's RETAIL price!!
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post #34 of 120
Kiss of doom from our chain-smoking, Blackberry loving socialist prez.
He's also kissing up to the tea-baggers who are salivating and waiting to carve up his health care plan like a pumpkin.
post #35 of 120
What an awful and depressing thing to say. Monetary wealth should not be a person's lifetime goal.
post #36 of 120
Quote:
Originally Posted by Momus View Post

What an awful and depressing thing to say. Monetary wealth should not be a person's lifetime goal.

Bill Gates is the prime example of trickle down model: make the wealth then give it away. That should be the real role model.
post #37 of 120
...... you are no Steve Jobs, President Obama
post #38 of 120
I totally agree with the quoted bits from Obama.

Income inequality is a big problem in American, but people like Steve Jobs are not part of the problem. The problem comes with trust fund kids who inherit everything and produce nothing and it comes with wall street con artists who just push money around and create nothing. Steve Jobs has actually created tremendous value for society. He deserves his wealth.
post #39 of 120
Quote:
Originally Posted by iLiver View Post

Bill Gates is the prime example of trickle down model: make the wealth then give it away. That should be the real role model.

He wouldn't have made so much to have to let it trickle down if the system weren't a crooked piece of shit.

Quote:
Originally Posted by anantksundaram View Post

Hey Smugly, name one non-capitalist system that is a democracy (I am, of course, assuming you are knowledgable regarding a working definition of the term).

As an aside, Northern Europe is not non-capitalist, just in case.....

I have a rock that keeps tigers away. I've never been attacked by any tigers so far so it must be working.
post #40 of 120
Quote:
Originally Posted by nicolbolas View Post

read closely... he likes Steve Jobs..... lol....

Then maybe Steve Jobs is doomed? How is Steve's health?

Quote:
Originally Posted by nicolbolas View Post

mayb i am misreading, but i didn't see Obama liking Apple ever mentioned

He doesn't! Remember the speech he gave at Hampton University commencement where he said he doesn't know much about technology like the iPod or iPad and being the anthesis anti-Obamanite out there, I smirked, "that's not the only thing he doesn't know much about" anyway here is the story...

But of course he couldn't live without his BlackBerry! But how would that look to the American voter he tries to beguile making them think he is for this country, if he were to go to a CANADIAN company to ask for business advice? Although he has done pretty much the same for this country as RIM's CEO done for his company so it would have made better sense since they have things in common to talk about.


Quote:
Originally Posted by nicolbolas View Post

what Steve has should pretty much be the cap for modern executives... i mean he has launched ipad and iphone/itouch and worked a lot on making them..... probably more than most executives do..... like a few 100% times more

No, I believe your thinking of Obama's twin Amabo, or Obama spelled backwards, because this one, who always looks backwards and has a regressive backward political philosophical world view, would look at Steve's income and say "You're making WAYYYY too much!". But not to worry folks, Obama is here to take it er, tax it er, relieve the excessive cash from that overpaid er, greedy er, capitalist (pig) entreprenuer - Steve Jobs. Provided the Republicans keep rolling over like they usually do!

Ten years ago, we had Steve Jobs, Bob Hope and Johnny Cash.  Today we have no Jobs, no Hope and no Cash.

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Ten years ago, we had Steve Jobs, Bob Hope and Johnny Cash.  Today we have no Jobs, no Hope and no Cash.

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