Thursday, Oct. 6, 2011 | 2:02 a.m.
In his letter Saturday, Dave Starr confused rich people and large corporations. President Barack Obama says rich people are those who make more than $250,000 a year. They create most of the jobs in this country. For sure the “lower” rich do the most creation; even Bill Gates, Larry Ellison and other really rich people (but not Warren Buffett) have created a huge number of well-paying jobs.
Large corporations don’t do as well for job creation, but most of us want them to do well. As most people know, the only way most nongovernment employees can save for a good retirement is for their 401(k) savings accounts and/or IRAs to do well. To a large extent, this depends on the success of large, worldwide businesses. If large corporations are saving money and not hiring so as to get past the worldwide financial and legal uncertainties, great.