Duh, That's why they're lower level employees!
Temps don't deserve any bonuses in my opinion and if they're good they become "real" employees.
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Apple Executives Cash in Over 1 Million Shares of Apple Stock
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Temps don't deserve any bonuses in my opinion and if they're good they become "real" employees.
Super. Maybe then it will easier to identify the ones who have their heart into helping people rather than enrich themselves on the misfortune of others!
... Man.. I TOTALLY got sucked into this thread from my usual perusing of Mac news!!
The thing is that these people will continue to work, because they enjoy working. Most people at this level have the killer instinct, which is why they're successful. Decades of hard work does pay off.
Yeah......shut up.....I think I had all my money tied up in Coleco stock
Well, that's sad since Coleco was out of business by 1990.
What's so sad about that is it goes to buy a bunch of hammers for the DOD, or pay for poor people's healthcare. Too bad Obama believes in equal outcome. "Spread the wealth" just makes me vomit.
As Steve Jobs has said, "I believe in equal opportunity, not equal outcome."
Again people here who talk without any knowledge of the subject matter.
He is most likely paying his tax on his total vested amount. He could have 125-150 million total vested, and by cashing out he is setting aside half to pay the total amount of tax owed on his vested options. At that rate it makes total sense. Why shouldn't this guy have to pay the same amount by percentage as a struggling person in the middle class. These options were gifts.
He is most likely paying his tax on his total vested amount. He could have 125-150 million total vested, and by cashing out he is setting aside half to pay the total amount of tax owed on his vested options. At that rate it makes total sense. Why shouldn't this guy have to pay the same amount by percentage as a struggling person in the middle class. These options were gifts.
Tim Cook's basement?
Based on my very unscientific guesstimation, you're looking at about $100 million in cash there.
To illustrate Steve Jobs' net worth, take that and then times it by 50! For Bill Gates, 500X.
He doesn't. He pays more.
Don't you love the fact that the government punishes those who provide the most value to the country and makes more money as a result?
Does it really? Bill Gates products make me puke but his human philanthropy is very enlightening compared to Jobs attitude.
Fear mongering of "equal outcome" aside, there will NEVER be equal outcome as long as people are motivated by fortune and fame. It's a sad statement you would prioritize wealth over any person's health and well-being though, regardless of their social standing.
Based on my very unscientific guesstimation, you're looking at about $100 million in cash there.
To illustrate Steve Jobs' net worth, take that and then times it by 50! For Bill Gates, 500X.
I was told it is about double that.
253 bills = 1 inch in thickness and I make it out to be 12 stacks deep and 34 wide, anyone want to guess the height so we can get a rough count?
i wanna toss a lit match in there
I just want to fill a few duffel bags!
Sad? Well the other way to pay for government services, is what I explain every four years when I run (as a write in) for president is my "restaurant check" tax plan. It is simple. When I go to a restaurant we just split the bill evenly unless if one person sees a need to chip in some extra. So that's my plan for taxes. At the end of the year we look to see that it cost to the city, country, state and federal governments and we just split the bill evenly, everyone, even babies (via their parents) pay an even share. No deductions or complex forms you just write one check for about $20K per person You can opt out by moving to (say) Mexico or India or some place. This is 100% fair. Just like restaurants if you can't afford to eat at the expensive place you find a cheaper place.
Can't seem to ever get many votes,
I think equal percentage is the way to go with taxes. If the 32 mil represents a percentage of the taxes he owes on 150 million, then it is more in line with the taxes that middle class pays, which is still too much
68 Million and 32 of that the government gets. That is insane. Nearly a 50% tax. Rich or not, that degree of taxes on anyone is wrong.
And to the naysayers, if 50% is ok (because jeeze, he still gets 36 million dollars) why not make it 95%? Why wouldn't that be ok as well? Taxes should always be a small fraction of any transaction. Anything over a 10% tax IMO should require some splainin' of dire need and be short term (is there such a thing in the tax world
It's interesting that you mention 95%, as it certainly isn't unheard of. In fact that is the exact tax rate that upset the Beatles so much (see the song "Tax Man"). These days people who make many millions of dollars have it easy - in comparison.
Smart move on the execs part. With how much Apple stock has run up, most of their net worth is probably tied up in Apple stock right now. Time to sell and diversify. Of course it helps that Apple stock is at all time highs.
The tax thing is pretty typical. If you look at this as a bonus, most of the time a bonus is taxed at the full amount, close to 50%. If it turns out that at the end of the year 50% was too much taken out then you'll get some of it back as a refund.
Some could view the selling as a negative for Apple. The "insiders" are selling and that could mean in their view the stock is done running. The top execs know all the numbers and see know the company outlook better than anyone. Just something else to think about.
The tax thing is pretty typical. If you look at this as a bonus, most of the time a bonus is taxed at the full amount, close to 50%. If it turns out that at the end of the year 50% was too much taken out then you'll get some of it back as a refund.
Some could view the selling as a negative for Apple. The "insiders" are selling and that could mean in their view the stock is done running. The top execs know all the numbers and see know the company outlook better than anyone. Just something else to think about.
How much would his shares be worth if the government hadn't built the internet, roads, education system and electrical grid required for people to build and use Apple's products? How would he keep his wealth from others without police, courts, and prisons?
He has gained more from society than most people and stands to lose more without its protections. The taxes are fine.
He has gained more from society than most people and stands to lose more without its protections. The taxes are fine.
So in your mind being left with a few tens-of-millions in bonuses is being "punished?" I'd call it a blessing that he's even able to reach a tax rate anywhere near that high. Let's take the US market he's helping to fund out of the equation since he apparently doesn't need us and see how big his bonus is then. Poor guy, having to only make do with millions upon millions of dollars in extra income.
"...selling 300,000 shares of stock for a total of $68.8 million. $32 million of that amount was set aside for taxes."
DEAR GOODNESS!!!!!!!!!! Explain to me how that is in ANY WAY moral or ethical? I seem to remember us claiming our independence from England for reasons such as this!
AMEN! But hey, don't worry, we loose more and more of our rights every day! Don't even get me started on the fact that most taxes were introduced as a TEMPORARY measure for specific reasons that are long irrelevant yet the taxes remain to this day. Also income tax has never been put through proper channels of legislation, it was merely made ILLEGAL NOT TO PAY which according to the constitution, legislation cannot be imposed upon us in that manner! It must be APPROVED proactively, not simply imposed and then made illegal if you don't comply.
Anyway...
DEAR GOODNESS!!!!!!!!!! Explain to me how that is in ANY WAY moral or ethical? I seem to remember us claiming our independence from England for reasons such as this! 68 Million and 32 of that the government gets. That is insane. Nearly a 50% tax. Rich or not, that degree of taxes on anyone is wrong.
And to the naysayers, if 50% is ok (because jeeze, he still gets 36 million dollars) why not make it 95%? Why wouldn't that be ok as well? Taxes should always be a small fraction of any transaction. Anything over a 10% tax IMO should require some splainin' of dire need and be short term (is there such a thing in the tax world
AMEN! But hey, don't worry, we loose more and more of our rights every day!
Don't even get me started on the fact that most taxes were introduced as a TEMPORARY measure for specific reasons that are long irrelevant yet the taxes remain to this day. Also income tax has never been put through proper channels of legislation, it was merely made ILLEGAL NOT TO PAY which according to the constitution, legislation cannot be imposed upon us in that manner! It must be APPROVED proactively, not simply imposed and then made illegal if you don't comply. Anyway...
I suggest a good history book. Perhaps there will be one available in the iBookstore? As an American citizen, Mr. Cook is not taxed without the appropriate Congressional representation and authority."...selling 300,000 shares of stock for a total of $68.8 million. $32 million of that amount was set aside for taxes."
Which part, the taxes repaying access to our enormous market or the extreme personal wealth in a world filled with poverty?"...selling 300,000 shares of stock for a total of $68.8 million [in bonuses]."
Things like a national defense cost money. Are you suggesting we scrap the tax system and hold a bake-sale?If only that is how it has really played out! See above!
Ya, that is EXACTLY what I am suggesting!
Something like a flat tax would be MORE than sufficient and the government needs to cut spending drastically! Long story short, I know we need a military etc. but the whole system needs to be reformed!