Friday, August 19, 2011

What If . . .

2:45 PM by The Pedestrian · 0 comments

Steve Jobs just gave half of his money to the U.S. Government, would it solve Uncle Sam's mounting debt woes?


It sounds logical and simple: key words used to describe the easiest and most effective solutions to the most complicated problems. Right? After all, Apple has more cash than the U.S. Treasury Department. Surely it can afford to let go of some of that whopping extra cash and do its patriotic duty to its fatherland?

And while an industry mogul bailing out a national government seems off-the-charts outlandish today, it has happened before. New York financier J.P. Morgan pledged a whopping $60 million in gold ($1.5 billion today) to help President Cleaveland get the U.S. economy back on track after financial panic of 1893. (See source here.)

It has happened before. Why not do it again?

Apparently, the situation is not the same banana. Or in this case, it's not the same apple (Pun intended). LA Times explains why dipping in Steve Jobs' cookie jar won't solve anything:

"...if Steve Jobs gave Apple’s $76 billion in cash to the U.S. government, it would just mean that the U.S. would have a few more weeks to solve their debt crisis, instead of a few days. We’re essentially comparing a high point for a U.S. corporation to a low point for the federal government. The U.S. spends billions of dollars a week. Apple makes billions of dollars a quarter. It’s not the same thing."
 Aw, too bad.



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