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Five Tech Companies That Milked The Stimulus

edited October 2012

imageFive Tech Companies That Milked The Stimulus

A look at the top five technology companies that have benefited from stimulus funds.

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  • Can you give us an alternate path to the articles that are only available on the iPad? Not all of us have access to Apple devices.
  • Consider the markets' verdict on President Obama's first term and the various stimulus efforts - from his first inaugeration to today's, the Dow is up 61% and the NASDQ up 100%. America's household net worth is up from $53.5 trillion to $64.7 trillion, in some part because all "stimulus" comes to rest in America's net worth in the form of savings and loan paydowns (the Federal Reserve publishes - and ignores - an aggregate household balance sheet). Our GDP of $15.8 trillion presntly employs 140.3 million, or $111,000 in GDP per job. The $742 million for major iT companies therefore is likely to have created or saved about 6.700 positions, while via the multiplier effect (at 4.0) the total job creation was probably about 26,000. Both employers and employees pay raxes, so at a 15% of GDP collection rate the stimulus cited proable generated $450 million in Federal revenue plus state and local revenue, reducing the net cost of stimulus. Schumperterian job destruction as well as recession downdrafts make it neither unexpected nor a valid criticism of stimulus that a company is adding jobs at the same time it is downsizing.
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