riddler 0 #1 July 30, 2011 http://edition.cnn.com/2011/TECH/innovation/07/29/apple.cash.government/index.html?hpt=hp_c2 Quote(CNN) -- Maybe the cash-strapped U.S. government should start selling iPads. According to the latest statement from the U.S. Treasury, the government had an operating cash balance Wednesday of $73.8 billion. That's still a lot of money, but it's less than what Steve Jobs has lying around. Tech juggernaut Apple had a whopping $76.2 billion in cash and marketable securities at the end of June, according to its last earnings report. Unlike the U.S. government, which is scrambling to avoid defaulting on its debt, Apple takes in more money than it spends. This symbolic feat -- the world's most highly valued tech company surpassing the fiscal strength of the world's most powerful nation -- is just the latest pinnacle for Apple, which has been on an unprecedented roll. Its Macs, iPhones and iPads remain hot sellers, its stock has surged past $400 a share and Apple just became the world's largest smartphone vendor by volume. There's been a lot of speculation about what Apple might buy with its piles of cash -- Facebook and Sony being two of the more high-profile examples -- but the company doesn't seem to be in any hurry to make a move. "We don't let the cash burn a hole in the pocket or make stupid acquisitions," CEO Jobs said last fall. "We'd like to continue to keep our powder dry because we think there are one or more strategic opportunities in the future." Offering Uncle Sam a short-term loan is probably not one of them.Trapped on the surface of a sphere. XKCD Quote Share this post Link to post Share on other sites
masterrig 1 #2 July 30, 2011 I wonder... how much they pay in taxes? Chuck Quote Share this post Link to post Share on other sites
mnealtx 0 #3 July 30, 2011 QuoteI wonder... how much they pay in taxes? Chuck 4.5 billion in 2010, according to their financial statement.Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
Frankyspanky 0 #4 July 30, 2011 How about the Federal Reserve directors? How much cash have they got... they call the shots at the end of the day...Back a hundred years ago, especially around Woodrow Wilson, what happened in this country is we took freedom and we chopped it into pieces. Ron Paul Quote Share this post Link to post Share on other sites
masterrig 1 #5 July 30, 2011 QuoteQuoteI wonder... how much they pay in taxes? Chuck 4.5 billion in 2010, according to their financial statement. Noone can say they don't pay their fair share! Thanks for posting that. Chuck Quote Share this post Link to post Share on other sites
freethefly 6 #6 July 30, 2011 QuoteQuoteI wonder... how much they pay in taxes? Chuck 4.5 billion in 2010, according to their financial statement. Correct me if I'm wrong. By my figure, they paid 5.9% on $65.2B? Apple Inc.'s Annual Revenues Apple Inc. had revenues for the full year 2010 of $65.2B. This was 78.5% above the prior year's results. http://investing.businessweek.com/research/stocks/earnings/earnings.asp?ticker=AAPL:US"...And once you're gone, you can't come back When you're out of the blue and into the black." Neil Young Quote Share this post Link to post Share on other sites
mnealtx 0 #7 July 30, 2011 QuoteQuoteQuoteI wonder... how much they pay in taxes? Chuck 4.5 billion in 2010, according to their financial statement. Correct me if I'm wrong. By my figure, they paid 5.9% on $65.2B? Apple Inc.'s Annual Revenues Apple Inc. had revenues for the full year 2010 of $65.2B. This was 78.5% above the prior year's results. http://investing.businessweek.com/research/stocks/earnings/earnings.asp?ticker=AAPL:US They're allowed deductions for certain items just as individual taxpayers are, so your percentage would be incorrect, as I understand it. I'm pretty sure that the earnings before taxes (profits minus sales cost and other allowed deductions) are what the tax is based on. Apple's earnings before taxes was 18.54 billion, with taxes paid of 4.527 billion working out to a rate of 24.4%.Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
freethefly 6 #8 July 30, 2011 QuoteQuoteQuoteQuoteI wonder... how much they pay in taxes? Chuck 4.5 billion in 2010, according to their financial statement. Correct me if I'm wrong. By my figure, they paid 5.9% on $65.2B? Apple Inc.'s Annual Revenues Apple Inc. had revenues for the full year 2010 of $65.2B. This was 78.5% above the prior year's results. http://investing.businessweek.com/research/stocks/earnings/earnings.asp?ticker=AAPL:US They're allowed deductions for certain items just as individual taxpayers are, so your percentage would be incorrect, as I understand it. I'm pretty sure that the earnings before taxes (profits minus sales cost and other allowed deductions) are what the tax is based on. Apple's earnings before taxes was 18.54 billion, with taxes paid of 4.527 billion working out to a rate of 24.4%. Thanks. I didn't consider the deductions, But, 24.4% is still a pretty good deal in terms of tax paid. You got to admit that. I can't imagine anyone turning down that kind of rate."...And once you're gone, you can't come back When you're out of the blue and into the black." Neil Young Quote Share this post Link to post Share on other sites
mnealtx 0 #9 July 30, 2011 Quote I can't imagine anyone turning down that kind of rate. I wouldn't mind it myself, since I pay a higher rate... Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
Skyrad 0 #10 July 30, 2011 If everyone paid taxes then the US would be in such a Fukced up situation.When an author is too meticulous about his style, you may presume that his mind is frivolous and his content flimsy. Lucius Annaeus Seneca Quote Share this post Link to post Share on other sites
Amazon 7 #11 July 30, 2011 QuoteIf everyone paid taxes then the US would be in such a Fukced up situation. We have a vast group of morons who expect everthing for nothing... if they make money they want to keep it all for themselves.. basically a bunch of selfish spoiled little brats. Quote Share this post Link to post Share on other sites
freethefly 6 #12 July 30, 2011 It is insane that a company that makes such a huge amount of money pays less (24.4%, if this figure is correct) , percentage wise, than a person making $34,500 at 25%. Apple could easily pay a higher percent without harm to their company. It does amount to corporate greed in it's worst form."...And once you're gone, you can't come back When you're out of the blue and into the black." Neil Young Quote Share this post Link to post Share on other sites
mnealtx 0 #13 July 30, 2011 QuoteQuoteIf everyone paid taxes then the US would be in such a Fukced up situation. We have a vast group of morons who expect everthing for nothing... if they make money they want to keep it all for themselves.. basically a bunch of selfish spoiled little brats. So, like the 50% that pay no income taxes and get something for nothing?Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
freethefly 6 #14 July 30, 2011 QuoteQuoteQuoteIf everyone paid taxes then the US would be in such a Fukced up situation. We have a vast group of morons who expect everthing for nothing... if they make money they want to keep it all for themselves.. basically a bunch of selfish spoiled little brats. So, like the 50% that pay no income taxes and get something for nothing? Oh, the standard 50% deadbeat drone, drone, drone... You would do well to know the facts of who the actual 46% are. 44% are the elderly. 30.4% are credits for children and the working poor. 6.0% are exclusions for cash transfers. 5.6 are education credits 5.1% are ATL and tax exempt interest 5.0% are itemized deductions 2.5% are other credits 1.3% are capital gains and dividends rates To hear you say it, some are living the good life on the backs of the poor filthy rich. Nothing could be further from the truth. http://www.taxpolicycenter.org/UploadedPDF/1001547-Why-No-Income-Tax.pdf"...And once you're gone, you can't come back When you're out of the blue and into the black." Neil Young Quote Share this post Link to post Share on other sites
Amazon 7 #15 July 30, 2011 QuoteQuoteQuoteIf everyone paid taxes then the US would be in such a Fukced up situation. We have a vast group of morons who expect everthing for nothing... if they make money they want to keep it all for themselves.. basically a bunch of selfish spoiled little brats. So, like the 50% that pay no income taxes and get something for nothing? How much did you pay in taxes last year Mike?? Quote Share this post Link to post Share on other sites
mnealtx 0 #16 July 30, 2011 QuoteQuoteQuoteQuoteIf everyone paid taxes then the US would be in such a Fukced up situation. We have a vast group of morons who expect everthing for nothing... if they make money they want to keep it all for themselves.. basically a bunch of selfish spoiled little brats. So, like the 50% that pay no income taxes and get something for nothing? Oh, the standard 50% deadbeat drone, drone, drone... Oh, the standard "the rich are so selfish" drone drone drone... QuoteYou would do well to know the facts of who the actual 46% are. 44% are the elderly. 30.4% are credits for children and the working poor. 6.0% are exclusions for cash transfers. 5.6 are education credits 5.1% are ATL and tax exempt interest 5.0% are itemized deductions 2.5% are other credits 1.3% are capital gains and dividends rates That changes the fact that 46% have no income tax liability *how*, exactly? QuoteTo hear you say it, some are living the good life on the backs of the poor filthy rich. Nothing could be further from the truth. I didn't make that claim. That does not change the fact that they recieve benefits that are paid for by others through *their* income taxes.Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
mnealtx 0 #17 July 30, 2011 QuoteQuoteQuoteQuoteIf everyone paid taxes then the US would be in such a Fukced up situation. We have a vast group of morons who expect everthing for nothing... if they make money they want to keep it all for themselves.. basically a bunch of selfish spoiled little brats. So, like the 50% that pay no income taxes and get something for nothing? How much did you pay in taxes last year Mike?? How much did you pay, Jeanne?Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
Amazon 7 #18 July 31, 2011 QuoteQuoteQuoteQuoteQuoteIf everyone paid taxes then the US would be in such a Fukced up situation. We have a vast group of morons who expect everthing for nothing... if they make money they want to keep it all for themselves.. basically a bunch of selfish spoiled little brats. So, like the 50% that pay no income taxes and get something for nothing? How much did you pay in taxes last year Mike?? How much did you pay, Jeanne? Quite a bit... but I am not the one blithering on and on about people not paying taxes. Quote Share this post Link to post Share on other sites
mnealtx 0 #19 July 31, 2011 QuoteQuoteQuoteQuoteQuoteQuoteIf everyone paid taxes then the US would be in such a Fukced up situation. We have a vast group of morons who expect everthing for nothing... if they make money they want to keep it all for themselves.. basically a bunch of selfish spoiled little brats. So, like the 50% that pay no income taxes and get something for nothing? How much did you pay in taxes last year Mike?? How much did you pay, Jeanne? Quite a bit... but I am not the one blithering on and on about people not paying taxes. No, just about greedy people wanting to keep all their money - so how much extra did you send in?Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
freethefly 6 #20 July 31, 2011 QuoteThat changes the fact that 46% have no income tax liability *how*, exactly? 44% are the elderly. Retired and living on a fixed income. Life savings, most likely depleted on healthcare. Ever rising cost of living. You really should cut them a break, as someday, you may be in their worn out shoes. 30.4% are credits for children and the working poor. Do you believe that the poor should not be allowed to claim their children? Maybe, you believe they should not have children if they cannot afford them, like the filthy rich (whom also claim their children.) Suppose we should just spade and neuter the poor to save the rich a dollar or two. 6.0% are exclusions for cash transfers. I'm sure the poor are not claiming this one, 5.6 are education credits The poor and the rich claim this one. 5.1% are ATL and tax exempt interest Not the poor. 5.0% are itemized deductions For those who can afford the best tax attorney. 2.5% are other credits Not the working poor. 1.3% are capital gains and dividends rates I'll let you guess who is in this group. QuoteI didn't make that claim. That does not change the fact that they recieve benefits that are paid for by others through *their* income taxes. You imply it by using it to assert your point that 50% of Americans are simply deadbeats living off of the hard working Americans who patriotically march off to work each day. The fact is, 44% are retired elderly who had done more than their fair share. Many are those who fought in WW1, WW2, Korea, and Vietnam. Many of those came home and manned the line in the factories that made our nation great. Worked the railroads, drove the trucks and worked the family farm. Those who cast them as deadbeats should be ashamed of themselves. 30.4 are the working poor with children. These people do the jobs that no one else wants. They are not sitting at home drinking the day away. They work hard hours for little pay. Give them a break, their lives are hard enough. The rest are mostly those who can afford the tax attorney that can work magic with numbers. The well to do. They should be ashamed of themselves."...And once you're gone, you can't come back When you're out of the blue and into the black." Neil Young Quote Share this post Link to post Share on other sites
mnealtx 0 #21 July 31, 2011 Hyperbole and 'give them a break' changes the fact that they have no income tax liability, *how*, exactly?Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
jgoose71 0 #22 July 31, 2011 If Steve Jobs was Obama's job czar, maybe he could have paid no taxes and got his company subsidized, just like jeffy imelt. "There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss." Life, the Universe, and Everything Quote Share this post Link to post Share on other sites
freethefly 6 #23 July 31, 2011 QuoteHyperbole and 'give them a break' changes the fact that they have no income tax liability, *how*, exactly? My mother is in the 44% group. She is 76 years old. Not in the best health. She worked until she was about 72 years old. She lives on a fixed income. Part from my fathers military retirement, part from SSI. She paid into the system her entire live. Like many in this group, she needs every dime she has. It would not be fair to expect those who worked hard and saved, only to see it quickly melt away due to an economy that gets worst as the days go on, to pay even more while the richest of the rich enjoy tax shelters that allow them to pay very little if nothing at all. The 30.4 working poor barely make enough to feed themselves and their children. They do pay, one way or another to support their local economy, as do the elderly, by way of sales tax, personal property tax (for States that has such). They also pay State taxes (as does my mother.) I'm sure most would be fine with paying Federal taxes if given a wage that would improve their existence.. However, there are those who work hard to keep that from happening. We can't have it both ways. It's one way or the other. If they were to pay taxes, that money, plus what break they already receive, would just come back to them. By not paying the tax, merely cuts out the middle man (the government.) Better to let them use the full dollar of their meager earnings than to wrap it in red tape and only give them a small percent. This way, the taxpayer pays less in the long run. As time goes on and the economy gets worst, we are going to look back on 30.4% and consider that the 'good old days.' As for the rich and how they are able to pay little, if no taxes? You'll have to ask the politicians who wrote it into the tax codes."...And once you're gone, you can't come back When you're out of the blue and into the black." Neil Young Quote Share this post Link to post Share on other sites
Amazon 7 #24 July 31, 2011 QuoteQuoteQuoteQuoteQuoteQuoteQuoteIf everyone paid taxes then the US would be in such a Fukced up situation. We have a vast group of morons who expect everthing for nothing... if they make money they want to keep it all for themselves.. basically a bunch of selfish spoiled little brats. So, like the 50% that pay no income taxes and get something for nothing? How much did you pay in taxes last year Mike?? How much did you pay, Jeanne? Quite a bit... but I am not the one blithering on and on about people not paying taxes. No, just about greedy people wanting to keep all their money - so how much extra did you send in? What is that tax rate for employees of US Corporations working outside the US for more than 330 days again??? I know you will never answer... because you are part of the problem. Quote Share this post Link to post Share on other sites
mnealtx 0 #25 July 31, 2011 QuoteWhat is that tax rate for employees of US Corporations working outside the US for more than 330 days again??? The same as it is if in-country. QuoteI know you will never answer... because you are part of the problem. Since I answered....wrong again.Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
