[ExI] millionaires and billionaires

[spike]

>... On Behalf Of BillK
...

>...I was referring to people whose annual *income* is in the billions,
never mind their total assets. These people don't even think about the cost
of something. They just do it, because price doesn't matter to them.
...BillK

We need more people to just do it.  Such people are our friends, for they
create jobs.  Contrast to the government subsidized efforts, such as
Solyndra and Light Squared.  Here are some examples of comparisons:


Solyndra - Founded in 2005; received $528 million in government subsidies in
2009.  Result: Bankrupt in 2011. The Chinese and others made solar panels
better and cheaper.  

Samuel Langley - Tried to build first airplane in history. In 1900, U.S.
government funded two flight attempts.  Result: Both times, Langley crashed
his plane into the Potomac River. Shortly thereafter, the Wright brothers
flew a plane with their own money.

Union Pacific Railroad - Founded in early 1860s with government money to
build part of a transcontinental railroad.  Result: Bankrupt, and some
officers of the railroad convicted of bribing Congressmen.   The Great
Northern Railroad then built a transcontinental railroad with no corruption
and no federal subsidies.

Edward Collins Steamship Company - Founded in 1840s to go from New York to
England, and also received government subsidies in 1840s and 1850s.  Result:
Bankrupt in 1858.   Cornelius Vanderbilt successfully built ships to go from
New York to England with no subsidies.

Government operated fur company - Founded in 1795 with federal money to
compete with the British.  Result: Near bankruptcy, and shut down in 1822.
John Jacob Astor built the American Fur Company in 1808 and flourished with
no federal subsidies.

Major source: Burton W. Folsom, Jr., The Myth of the Robber Barons, 6th
edition, (Young America's Foundation, 2010)

Rich people are our friends, evolution bless them one and all.

spike