Earlier quoted context omitted.
23.8%, because he would surely have to pay NIIT as well, right? But also, that's just federal taxes. California adds 13.3% on top of that (for any income over $1 million, which is most of the income here). But also, this is a stock grant, which generally get taxed as ordinary income, so I would expect 37% federal, 2.35% medicare, 13.3% California tax, adding up to 52.65% in taxes.
I think medicare is capped after your first 140K of income, so it is a rounding error. Tax is still a huge cut.
Apple chief executive Tim Cook gets $750m payout
341–350 of 360 posts
Re: Apple chief executive Tim Cook gets $750m payout
#342Earlier quoted context omitted.
Tim funding a war on "gays" would be .... very surprising. But also, there's no guarantee that _anyone_ including the government will use money for "good" causes. Bridges to nowhere, military adventurism, wars on drugs, personal enrichment of politicians and government employees, vanity projects of various sorts, the list of things governments mis-spend on is vast. And of course we don't all agree on the relative mer…
True, but at least you can vote a government out of power. Same can’t be said for billionaires.
Re: Apple chief executive Tim Cook gets $750m payout
#343Earlier quoted context omitted.
Both improving education and building infrastructure, as they are actually practiced, are not "simple" and questionably "surely-helpful". See also bridges to nowhere and schools with top-of-the-line computers but broken heating/cooling systems. Just throwing money at things does not mean it gets used to actually improve them, unfortunately... The question is when you have gotten to diminishing, or negative, returns.
So what’s the alternative? If you are unwilling to build schools for the poor. If you are unwilling to build water cleaning stations for the poor. If you are unwilling to build them libraries and parks. Then you are basically willing to let them live as third class citizens. We need to recognize this. In my opinion the whole “throwing money at the problem is not a solution” excuse is not enough to justify maintaining…
To which?
I think we should encourage/require government spending on things that are actually useful (and I acknowledge that there is wide-ranging disagreement on this criterion) and fund such spending adequately.
At the same time we need to have reasonable accountability for governments doing stupid things with money, notice when it's happening, and make it stop, redirecting those funds to something productive. Whether that happens via lower government revenues or reallocated government spending depends on whether there is something productive the government can spend the money on.
The things that you list, and many you don't (quality schools, both physical plant and teacher quality, libraries, parks, clean water, free school lunches, free preventative medical care, etc, etc ) generally pass the "is productive" smell test until proven otherwise; the burden of proof there should be on critics to prove that the investment is not being done in a useful way. That said, once that burden of proof is met, action needs to take place to remedy that.
> In my opinion the whole “throwing money at the problem is not a solution” excuse
You're putting words in my mouth here. For a lot of these things, throwing money at them is a _necessary_ but not _sufficient_ condition for having a solution. If you don't fund your schools adequately they will be bad, but if you just throw money at them and it gets misused in ways that don't advance learning they will also be bad. The whole "there's a whole warehouse of unused computers in that school district" thing is not _common_, but it's also not unknown when it happens it's really bad and needs to be fixed. Both in terms of the immediate problem and the bad incentives that led to it.
So just saying "allocate money to this" is not the end of the road. You have to then make sure the money gets used sanely.
Re: Apple chief executive Tim Cook gets $750m payout
#344Earlier quoted context omitted.
I think medicare is capped after your first 140K of income, so it is a rounding error. Tax is still a huge cut.
You're thinking social security. Medicare is very much not capped, and in fact you only hit the 2.35% rate after 200k individual or 250k family income; it's 1.45% before that (for the employee side).
Re: Apple chief executive Tim Cook gets $750m payout
#345Earlier quoted context omitted.
That’s my question. How does this benefit Apple as a company or shareholders?
The shareholders decided that providing a share incentive for raising the share price higher than other company shares was a great way to align the interest between the shareholders (who own the company) and the CEO. It’s as simple as that.
Re: Apple chief executive Tim Cook gets $750m payout
#346Re: Apple chief executive Tim Cook gets $750m payout
#347Earlier quoted context omitted.
> by their scarcity By their perceived scarcity Chances are that anyone other than Tim could have done just as well. Still, this is over 10 years, and Apple shares have increased in value by 1900%. If they were still the same value he’d have gotten 40M, for about 4M per year. Which is much more reasonable. I still think it’s high, but in line with what others get.
So the fact that Apple's share price has increased 1,200% since he took over is just a coincidence?
Of course you can argue that the wrong leader would have torpedoed the company.
Re: Apple chief executive Tim Cook gets $750m payout
#348Earlier quoted context omitted.
> by their scarcity By their perceived scarcity Chances are that anyone other than Tim could have done just as well. Still, this is over 10 years, and Apple shares have increased in value by 1900%. If they were still the same value he’d have gotten 40M, for about 4M per year. Which is much more reasonable. I still think it’s high, but in line with what others get.
Chances are anyone other than Tim could have done just as well? Did you see what happened to Apple after Steve Jobs got fired? Have you seen what has happened to great civilizations after the roll of monarchical dice or even a democratic election? Have you ever met a bozo? They exist and there's more of them than there are sane people.
I think it’s generally just fine unless the incoming new CEO is determined to suddenly do everything different.
Re: Apple chief executive Tim Cook gets $750m payout
#349When will the people understand, that if you force the equality, it'll result in mediocrity? USSR has learned this lesson the hard way, so it is sad to see how many well-off Americans a rushing head first into it voluntarily? Trust me, you won't like the results. You have a 200square meters house? Nobody needs that many space, and also there are so many homeless in Los Angeles. You take two rooms 24square meters each…
Is it possible to have a debate about CEO payout without the dumb comparisons with the Soviet Union? Imperial Russia was an absolutist autocracy in theory for most of its history and in practice for all of it. Does being against despotism mean that I have to give a couple rooms from the property I don't own?
Re: Apple chief executive Tim Cook gets $750m payout
#350Earlier quoted context omitted.
In your opinion, can a bit better CEO (not outrageously better, just somewhat better than the other guy/gal with a bit brighter long-term strategy and a bit different focus for the subordinate top managers) personally make a 1% total difference in company growth across ten years? If you don't accept that, then I'll just have to disagree based on how I've seen companies are managed, IMHO personalities matter at least…
One person absolutely can not do that. Only a big team of people can do that. One person will be leading the team. That does not mean that it is they who creates that impact.