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So, Apple corp has more money than the govt, but they are throwing a hissy fit and crying that they need a tax free period to bring back their bank accounts to the US from Ireland, simply so they can avoid paying the same taxes that EVERYONE else has to.
Apple are as morally bankrupt as the govt is financially.
The big difference is Apple earned it’s cash.
Who the fuck ever said government was supposed to make money? (And please no shit about them printing it either. That’s the Fed’s job and the Fed are not part of the government.)
You don’t make money protecting people from greedy scamsters, arsonists, leg-breakers, and natural disasters.
You don’t make money protecting you from diseases.
You don’t make money cushioning the economy when times are tough, like now.
Anybody who thinks that governments are supposed to make money has got the wrong idea about what a government does, and who its supposed to do it for.
Its not for the rich to use to get richer with tax loopholes while we all pay, with gummint contracts
Its not for lawyers to use to entrap and ensnare us in a myriad rules and regulations.
Its not for insurance companies to make money denying us coverage.
Its not the police to get away with murder, literally.
I’m all for small government, but somethings benefit from economies of scale and somethings are falling between the cracks of every state in the union. (Read your constitution. Whatever isn’t handled locally it the States responsibility. Whatever isn’t handled by the states is the federal government’s responsibility. [The Tea Partiers have it all wrong. The constitution is not an exclusive document but an inclusive one.])
John F. Kennedy had it right when he restated the millennia old centurion’s creed: Ask not what your country can do for you but ask what you can do for your country.” (And he was the son of a repentant booze runner. I know. I am the son of a biochemist who worked for an unrepentant booze distiller who made it for ’em. [Seagram’s has a long and distinguished history. {Lately working for Vivendi}])
There is nothing wrong with being in a fascist republic, unless they can’t even keep the mail delivered (or keep the broadband broad) or keep the planes/trains/automobiles running on time (and I don’t want to hear about the potholes on your street every spring.)
#34 pedro
Until Apple came along Nokia and RIM were holding the mobile cards. Now it’s Apple and Google – two American companies comrade. They’ve also created the best growth opportunities for small developer shops in years. Remember that thing about small businesses creating jobs?
When I talk biomedical I honestly don’t know a lot about it other than I’m putting money into startups and doing well. Keep up the research there buddy. Cycle times are longer than tech but it’s pretty apparent that it’s a growth field. Also I see a lot of iPads being used by researchers and doctors. I’m guessing you’ll have one soon.
Zybch. So you’re arguing, to Apple shareholders and customers, that they should put their money in American banks? And pay higher taxes for the risk to doing it and charge more for products and lower returns for shareholders? You’re pretty savvy at this business thingie stuff.
They did lower their effective tax rate to about 24%. Compare that to Google or GE comrade.
Zybch. Move your own cash off the greenback into something like AUS$. With the Tea Party trying to screw over the US financial system expect a lot of stress on currency rates and bond ratings very soon. I’m expecting a $1.20 AUS$ soon.
Well, it looks like the americans love apple more than their country. Keep dreaming about the next years apple product release and discuss about apple vs google and Jobs vs Gates The chinese will take the economy. When the theories that east is going to take over the west have surfaced, I never believed them but now I think it is going to happen. Your steve jobs is also shifting the focus to china now. It is possible that after 5 yrs, you get the new iPhone may be after 8 months after its release in china
#36, Your take on the Constitution is completely backward.
The 10th amendment is pretty clear. What isn’t in the rest of the document is reserved for the states or the people, not the other way around.
It is a restriction on government, not a restriction on the people.
It is to protect the people from the government, not a way to keep the people beholden or dependent to it.
Where did you hear such nonsense?
If u have 5 bucks in your wallet, u have more money than the USA. Unless u have more debt than the 14.5 Trillion.
The USA is a Ponzi scheme at this point.
#36–msbpodcast==Excellent post. Nice phrasing to highlight the liebertard nonsense that government is like a business or a family. Of course, anything is like anything else in some respect but a business CEO is no more a natural fit for government office/elected office than anyone else.
Just more BS that passes as dogma for two many.
I post to balance/oppose the completely irrelevant comment by Loser at #41. What he says is correct, but totally irrelevant to what you posted. Like Pedobreath, Loser loves to post just by number, so I assume he put the wrong number falsely maligning your excellent post.
Sad when that happens.
One thing about Apple products – they are costly and expensive – yet represent good value for your money
You will seldom hear anyone complaining that their cash was thrown out of the windows and that they wasted their hard earned money on an Apple product
#30 bobbo I have a few simple questions. Where are all Apple computers made? How much of Apple profits are off shore and stay off shore? When was the last time Apple made a computer in the US? How is this different than GE? What is the most profitable part of GM and where is it located? How many Americans work there?
There are a lot of American Companies doing well but a lot of them are doing it in large part somewhere else.
#47–do-ill==you ask:
#30 bobbo I have a few simple questions. Where are all Apple computers made? /// I don’t know.
How much of Apple profits are off shore and stay off shore?/// I don’t know.
When was the last time Apple made a computer in the US? /// I don’t know.
How is this different than GE? /// I don’t know.
What is the most profitable part of GM and where is it located? /// I think its GM Financial, their arm that finances cars if not other consumer loans as well? Probably located at a drop box in Delaware?
How many Americans work there?/// I don’t know.
There are a lot of American Companies doing well but a lot of them are doing it in large part somewhere else. /// So, what’s your point?
My point at #30 which you have missed totally is that US Corps should pay US taxes and the notion that they need tax breaks in order to provide jobs is just a lie. You know what a lie is don’t you do-ill? If not, just read half of MikeN’s posts. For some reason, he loves them.
FYI…
“Up until 1992, all Apple Macintosh computers were assembled in Fremont, California. After that, manufacturing was moved to Elk Grove, CA.
Today, according to Apple’s most recent 10-K, “Final assembly of the Company’s products is currently performed in the Company’s manufacturing facility in Ireland, and by external vendors in California, Texas, the People’s Republic of China (“China”), the Czech Republic and the Republic of Korea (“Korea”).”
http://seekingalpha.com/article/263982-why-ge-apple-and-google-will-pay-a-lower-tax-rate-than-you
#50, That’s filarious. GE buys a bunch of green vehicles to take advantage of the tax incentive (and keep GM in business) and liberals scream about them not paying taxes.
If they just froze government spending at current levels, it would save 9.5 trillion dollars over ten years. So all of the supposed budget cuts being talked about right now are actually big spending increases.
Hmm… A company who’s CEO and creator will die soon. I wonder why they might be stashing up loads of cash? Could it be that they expect Apple to take a HUGE nose dive when he finally dies.
What can you even DO with $76 x 10^9?
Apple should buy AT&T!
The solution is simple: the US government has to sart selling iPhones and iPads
According to Zero Hedge, countries outside of the U.S. dumped 74 billion dollars in U.S. Treasuries, most of it over the weekend:
“Over the weekend, we observed the perplexing sell off of $56 billion in US Treasurys courtesy of weekly disclosure in the Fed’s custodial account (source: H.4.1) and speculated if this may be due to an asset rotation, under duress or otherwise, out of bonds and into stocks, to prevent the collapse of the global ponzi (because when the BRICs tell the IMF to boost its bailout capacity you know it is global). We also proposed a far simpler theory: “the dreaded D-day in which foreign official and private investors finally start offloading their $2.7 trillion in Treasurys with impunity (although not with the element of surprise – China has made it abundantly clear it will sell its Treasury holdings, the only question is when), has finally arrived.” In hindsight the Occam’s Razor should have been applied. Little did we know 5 short days ago just how violent the reaction by China would be (both post and pre-facto) to the Senate decision to propose a law for all out trade warfare with China. Now we know – in the week ended October 12, a further $17.7 billion was “removed” from the Fed’s custodial Treasury account, meaning that someone, somewhere is very displeased with US paper, and, far more importantly, what it represents, and wants to make their displeasure heard loud and clear. (Source)
Undoubtedly, the Chinese and other countries have recently discovered that Italy and Greece, with smaller debt to income ratios than the United States, are less riskier and carry a higher rate of return. This is because, unlike the US, the Rothschild/Rockefeller bond rating agencies have trashed their country’s debt ratings, forcing them to pay a much higher interest rate than U.S. Treasuries. Hey, if you take the risk, you might as well earn the reward!