Corporations NEED more tax breaks! : "Apple has More Money than the U.S. Government"

[in_cog_ni_to]

They're needy. Give them all MORE tax breaks. They need it more than Grandma and Grandpa do! Don'tcha think? I'm just sayin'. Have a heart. Have some pity on the poor deprived corporations.

:sarcasm:



NEWS / GENERAL
Apple has More Money than the U.S. Government

30 Jul, 2011, 4:42 pm IST | Karan Shah | General General

Yes, you’ve read that right! According to the latest financial statement by the US Treasury, the iPad manufacturer, is more financially stable than the US Government, itself. Apple currently has a cash-on-hand balance of about $76.2 billion, as opposed to the US Government’s $73.8 billion in cash and securities. This is an impressive milestone for Apple. The world’s most highly valued tech company has overtaken the world’s most powerful Government, in terms of financial strength.


Apple has US$ 363.25-billion, as far as market capitalization is concerned, which has upped its position, making it the second largest company on the planet, the first being Exxon Mobile. Some may say the difference is due to Apple and the US Government employing two separate financial models - Apple saves more than it spends; on the other hand, the US Government ends up spending more than it saves. Also, Apple is categorised as a profitable company, whereas the US Government operates more on a solvent basis – it just needs to pay the bills, and stay afloat.


Whatever the case is, a company and not the Government, currently holds number one position in the US, as far as cash securities are concerned, which is definitely quite a feat on Apple's part.

[OhioChick]

1. Take all of their fucking tax breaks away if they're shipping jobs overseas n/t

[Initech]

2. I completely agree.

[Initech]

3. God I remember when Apple was near bankrupcty in the mid-90's.

[jwirr]

4. Maybe we could apply to them for social security if they manage to kill it. nt

:sarcasm:

[ProfessionalLeftist]

5. LINK:

One of many to this story:

http://www.businessinsider.com/apple-has-more-cash-on-hand-than-the-us-government-2011-7

[in_cog_ni_to]

6. Ah Geez....I forgot the link. Thanks for posting it.

:hi: