It's time to nationalize Apple, sell its assets and use the money to take off of the crisis.
Apple now holding more cash than USA
111–120 of 130 posts
Re: Apple now holding more cash than USA
#112Earlier quoted context omitted.
if I take $1000 from my account and give it to my friend who puts it into his account? I am not really familiar with the U.S. but here's what happens in Europe, regardless of the legality of that transfer (in my country you cannot give 1000 USD as a gift and not pay taxes, unless you're using some kind of offshore account or other means of tax-evasion): As soon as your friend spends it, in my country 240 USD will go…
You've changed the scenario. You're now talking about spending the money, which is wholly different from the scenario I described. In my scenario, money flowed but did not help the economy. In your scenario, you're assuming the $1000 was spent and then following the trail of its expenditure. But if the money is never spent, none of that revenue will ever get to the government. I also think you might be wrong about th…
According to this site, Romania has no gift tax.
Re: Apple now holding more cash than USA
#113Earlier quoted context omitted.
"Every dollar they receive (and a lot they don't) gets invested in the economy in some way (salary, materials purchases, R&D, etc.)" Two problems with that statement. First, you're only looking at one side of the equation. You're ignoring the cost and damage to the economy that government spending does. I don't just mean by crowding out other, more efficient solutions, but the literal taxation and inflation that gove…
> Two problems with that statement. First, you're only looking at one side of the equation. You're ignoring the cost and damage to the economy that government spending does. I don't just mean by crowding out other, more efficient solutions, but the literal taxation and inflation that government uses to get the money in the first place inhibits economic growth. Both actions reduce the "bottom line" for consumers and c…
This level of economic ignorance is mindboggling. Read some Mises, or even just any mainstream Econ101 textbook.
Re: Apple now holding more cash than USA
#114Earlier quoted context omitted.
Note that those big multinational corporations can't move money made outside the country to back home in the USA without incurring an absurd ~30% tax on top of whatever other taxes they paid whoever already. Word is Apple has been pushing for an amnesty so they _can_ bring their money home; until then, that money earned outside the US stays outside the US.
Maybe it's time they paid their fucking taxes like the rest of us.
Why, other than for fairness? I have far more confidence that Apple will spend the money in a way that benefits me than that the government will. They certainly have so far.
Re: Apple now holding more cash than USA
#115It's time to nationalize Apple, sell its assets and use the money to take off of the crisis.
Sarcasm?
Re: Apple now holding more cash than USA
#116Earlier quoted context omitted.
In this instance, to my knowledge, Apple isn't using shell companies. It has iTunes set up in Luxembourg, but that's a very real company. And each country has it's own Apple subsidiary which again are real companies in their own right. I'd say that it's hardly tax avoidance, since they pay their taxes in the countries where the revenue is generated. No one in their right mind would give up 35% of their wealth simply…
> It has iTunes set up in Luxembourg, but that's a very real company. Sure, but is it really operating out of Luxembourg? I suspect most of their employees are here in the States.
Yup, they have real people employed by, and working in Luxembourg.
Re: Apple now holding more cash than USA
#117Earlier quoted context omitted.
No one can say for sure. It's a doomsday scenario that no one is really prepared for. The only thing anyone can say with any certainty is that the next president of the USA will be a Republican, because that's what this is all about. Destroy the economy, blame the incumbent, and scoop up the next election.
> The only thing anyone can say with any certainty is that the next president of the USA will be a Republican And they'd be lying.
[deleted]
Re: Apple now holding more cash than USA
#118Earlier quoted context omitted.
No one can say for sure. It's a doomsday scenario that no one is really prepared for. The only thing anyone can say with any certainty is that the next president of the USA will be a Republican, because that's what this is all about. Destroy the economy, blame the incumbent, and scoop up the next election.
Disagree strongly. If catastrophe happens, voters just may remember who caused it. I'd like to come back to this comment in 16 months.
Oh if only that were even remotely realistic, what a wonderful world this would be, full of love and joy and happiness, instead of the miserable, hate filled and self destructive reality we actually live in.
Adlai Stevenson said it best: When a supporter told him he "had the vote of the thinking man", he replied "Thank you, but I need a majority to win."
It's funny because it's true. It's also very very sad, because it's true. The vast majority of the voting public are idiotic to the point of absurdity. Let's take a trip down memory lane and look at some of the mind numbingly stupid things many and most of the american electorate believe/believed.
Health Care reform = Death Panels & Socialism
Bill Clinton was/is a serial killer.
Gay Marriage is immoral
Al Gore claimed to invent the internet. Al Gore invented the internet.
18% of people believe Obama is a muslim. That's up 7 points on the previous year. 34% of people DON'T know that Obama is a Christian.
45% of republicans believe Barrack Obama was born outside of the United States.
99% of republicans believe John McCain was born IN the United States.
Global warming is a myth/hoax.
There is a god.
I'll save the best till last. The following are all conscious lies, that came out of the mouths of US politicians, and were believed by significant amounts, if not the majority of the US electorate:
Saddam Hussein was responsible for 9/11
Iraq and al-Qa'ida were working together
Iraq was seeking uranium from Africa
Iraq was trying to import aluminium tubes to develop nuclear weapons
Iraq had WMDs
Iraq had missiles that could reach the UK
Saddam Hussein had the wherewithal to develop smallpox
US and British claims were supported by the IAEA inspectors
Iraq was obstructing the inspectors
Iraq could deploy its weapons of mass destruction in 45 minutes
Troops would face chemical and biological weapons
Iraq's oil money would go to Iraqis
And the coup de grâce!
WMD's were found in Iraq, or to quote Bush precisely from may 30th 2003: "Those who say we haven't found the banned manufacturing devices or banned weapons - they're wrong. We found them."
All lies, every single one of them. You see, here's the rub: The truth doesn't matter one teeny tiny incy wincy little bit. No where on the face of this planet do electorates vote on truth, or even policy. They have no long term memory. And heaven forbid they ever change because it would be impossible to win a majority if they did.
All the republicans want to do is destroy Barrack Obama. There's no plan B, they have no idea what they would do if they did destroy him and they don't care how much damage they do in the process. It's a scorched earth policy. But if they do force a default and ruin the global economy, come the next election it wont matter whose fault it was because that wont be the story. The story will be whatever the republicans want it to be. It will be a lie, and things will be so bad, people will be so angry, that they'll believe it.
Re: Apple now holding more cash than USA
#119Earlier quoted context omitted.
No one can say for sure. It's a doomsday scenario that no one is really prepared for. The only thing anyone can say with any certainty is that the next president of the USA will be a Republican, because that's what this is all about. Destroy the economy, blame the incumbent, and scoop up the next election.
> The only thing anyone can say with any certainty is that the next president of the USA will be a Republican And they'd be lying.
I admit, I was being trite, but it's a good bet.
Re: Apple now holding more cash than USA
#120To be fair, just about everyone reading this will probably have more cash than the USA in another week or two.
At this burn rate, it's more like 3 days...
http://www.zerohedge.com/news/treasury-cash-drops-15-billion...