Do you contribute your 'fair share' ? Did the average worker imitate the much maligned venture capitalist Mitt Romney and achieve the following in the past tax year? On his circa $4 million in paid taxes Romney financed, carried and supported the following. Did you do the same?:
-300 elementary school children
-300 seniors on Medicare
-200 military personnel's salaries
-250 people on food stamps
-200 people on other government welfare
-ex of his tax payments some $4 million was sent to various charities helping literally thousands of people
This says nothing of the tens of thousands of jobs 'saved' or 'created' [to use the OGoda's phraseology]. So the question is – what did you do that was comparable?
VC investment management is an exercise in futility and frustration. Imagine if you had $100 million of your own money and you had to earn a return on it by investing in businesses. Most likely 2/3 or more of your investments would fail. Maybe 1/3 might have some level of success. None would be 'guaranteed'. Out of every 5 deals you structure you would probably lose capital on 4 and hope to earn back your lost money on just one deal. Without such investments many firms and jobs would simply vanish. For your troubles you are vilified by the media and the geniuses of the Socialist-Marxist cult; who to quote the Koran 5:33, would like you to be 'executed, humiliated and crucified'. Nice.
In post-modern Socialist Utopias there is lots of love expressed for 'heroes' [police officers with $90.000 a year pensions and unlimited power]; the 'little guy' [now defined as a government worker who will only get $60.000 a year for life after age 55]; the Earth Mother; or the 'disadvantaged' who collect free-housing, free health and dental care, disability payments and housing support. Not much compassion is expressed towards anyone who actually creates a business or engages in job hiring. Poof. So bourgeois. Such types are demonized and spoken of with whispers in polite social groups. Surely you don't want to be one of 'them' now do you?
So a fair question on the meaning of fair. Is it fair that one man supports literally thousands of people? Is it fair that half the population pays no income tax – a tax which supports the functioning of all the duties of a Federal Government including health care, border security, the military and sundry transfers for sundry purposes to the population at large ? Is it fair that venture capital money has created behemoths ranging from Apple to various manufacturing firms, and in the process millions of new jobs, yet the entire industry is calumnied and looked upon by the bien pensant as unworthy? How many jobs do the 'fair' commissars in government, or the union elite so obsessed by 'fairness' create ? None is the answer. They create welfare cheques disguised as jobs.
The reality is clear. The deployment of capital into business ventures is entirely fair and subject to a fair return. So too is the creation of profit and millionaires from such investments. These are fair returns for a risk fairly taken. In a thinking-rational world you would want more venture investments and venture financed millionaires. They pay a lot more than their 'fair share'. In fact the entire edifice of welfare and public transfers, not to mention thousands of worthy charities would not exist without both venture capital and its capitalists.
How is that for fairness?