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Apple has more money than the US government

By Shawn Knight
Jul 29, 2011
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  1. Apple now has more liquid cash and marketable securities on hand than the US government, according to financial statements released by the US Treasury on Wednesday.

    Read the whole story
     
  2. lawfer

    lawfer TechSpot Paladin Posts: 1,270   +91

    That is some cheap, misleading title. Come on Techspot, you're better than this.
     
  3. mario

    mario Ex-TS Developer Posts: 399   +17

  4. supyo

    supyo TS Enthusiast Posts: 45

    not too worry, the US government will have a couple trillion in a few days. A couple fake trillion dollars that they will never be able to pay back. Money is an illusion.
     
  5. ...and a lot less debt ...and still this guy can't afford to buy a new shirt for himself.
     
  6. Trillionsin

    Trillionsin TS Evangelist Posts: 1,323   +135

    I have more money than the US Goverment...
     
  7. gwailo247

    gwailo247 TechSpot Chancellor Posts: 2,011   +18

    The US should institute their own version of the Apple Tax, and take 30% of their cash for the rights to exclusively sell Apple software and hardware in the US.
     
  8. Win7Dev

    Win7Dev TS Evangelist Posts: 567   +174

    Unless you have several trillion dollars in debt, you've definitely got more. The US government has grown far too large to be effective when its the biggest employer in the country. Not even large companies like Coca Cola have more employees and they are a world wide business.
     
  9. Isn't every country has their government as the biggest employer?
     
  10. paynetrain007

    paynetrain007 TS Rookie Posts: 88

    technically we all have more money then the government but also in a way we don't. Our finances our based of the value of the dollar.... that means our wealth is based on the government's wealth. Therefore we all share the government's debt equally.... therefore we don't have more money then the government....
     
  11. And yet republicans are afraid to raise taxes on corporations. LOL. Some of our politicians are absolutely crazy!!!
     
  12. SNGX1275

    SNGX1275 TS Forces Special Posts: 10,714   +397

    I don't want to, nor am I skilled enough, to debate politics. But, to me, it seems that if corp taxes go up, they wouldn't care. They'd just inflate the price to the consumer to make up for the tax. Then the consumer ends up indirectly getting taxed for the corporation..
     
  13. That's akin to being able to raise your own salary at will and just spending and spending, but at some point your employer is going to go bankrupt supporting you. If your employer goes out of business, you'll _never_ get the money to pay off your massive debt. You could tax every dollar the rich have in this country and it wouldn't even put a dent in our current debt.

    The republicans don't want to raise taxes because that would hurt the economy even more than it already has been. Lower taxes encourage businesses to spend money and hire, which creates more taxpayers. More taxpayers is what we need, not higher taxes. And being able to live within its means is something else the government needs to learn.
     
  14. "They'd just inflate the price to the consumer to make up for the tax. Then the consumer ends up indirectly getting taxed for the corporation.. "

    That's exactly right. This is why it's often said that "corporations don't pay taxes". They just charge the consumer more.
     
  15. Trillionsin

    Trillionsin TS Evangelist Posts: 1,323   +135

    This would just turn into an additional tax on the consumers.... not Apple.
     
  16. red1776

    red1776 Omnipotent Ruler of the Universe Posts: 5,219   +157

    I highly doubt that's true.;)

    ...and you have history on your side for this.
     
  17. w3b0n

    w3b0n TS Rookie Posts: 38

    i would vote for you
     
  18. captaincranky

    captaincranky TechSpot Addict Posts: 11,702   +1,886

    I think wording this; "Then the consumer ends up indirectly getting taxed >>BY<< the corporation", would be semantically more precise!

    But we have the US Mint! Deal with that Apple......And all they have to do is let their printing presses run steady for a few days, and Apple's cash and securities wouldn't be worth squat.
     
  19. From guest:
    "The republicans don't want to raise taxes because that would hurt the economy even more than it already has been. Lower taxes encourage businesses to spend money and hire, which creates more taxpayers.
    More taxpayers is what we need, not higher taxes. And being able to live within its means is something else the government needs to learn."


    The question is ---where will businesses spend and hire?
    China India, Brazil---Surely not the US.
    GE is moving its Xray division to China from the US.
    HP is spending tons of money hiring engineers and building facilities in CHINA.
     
  20. stewi0001

    stewi0001 TS Evangelist Posts: 1,184   +528

    all I got to say is that there is alot of wasteful spending and I ain't getting in any farther than that.
     
  21. Mokito

    Mokito TS Rookie

    The article is ok but the title is misleading.
     
  22. "The US government has grown far too large to be effective when its the biggest employer in the country. "

    There is the root of the problem. If corporations would hire more here and less overseas it would help our economy greatly. Employees now are not partners but cost centers, easily replaced with someone cheaper, preferably with VISA status. Except of course you are in the upper corporate echelons.

    Otherwise you are a corporate drone whose existence is to hang on until the next almost unattainable s.m.a.r.t. objective or unreasonable SLA agreement forces you out.

    Sad to say that the government at least gives decent livable wages to police, firemen, teachers, others. Otherwise if it was privatized they'd all be working minimum wage by now.
     
  23. captaincranky

    captaincranky TechSpot Addict Posts: 11,702   +1,886

    Sadly, the labor unions have accelerated rather than inhibited this process. American workers have simply priced themselves out of the market, but are a bit too accustomed to a belief of entitlement to stop the slide.

    Granted, corporate greed is a huge factor, but still, somebody's always hungrier than an American, even when he's starving.

    You can't work for high wages, and simultaneously demand cheap goods. It's a very simple concept, that nobody here seems to be able to grasp. Cue China's industrial revolution.
     
  24. Then the government must take what it needs.
     
  25. hellokitty[hk]

    hellokitty[hk] Hello, nice to meet you! Posts: 3,435   +145

    I wonder if people will notice if I debate myself using multiple guest posts.
    Or maybe I'll make a statement and have a hoard of guests support me.
     

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