Kapernick should be protesting for Tim Cook too... Isn't a sin against human rights for govt to take 52% of a person income in income taxes... (this does not include property taxes, sales taxes and 100 other taxes the govt takes.) http://www.forbes.com/sites/antoine...-rate-on-his-135-million-payday/#c6d570e5aaa3 Take Cook’s recent award of 1.26 million Apple shares, is based on the company’s stock performance since he became CEO in August 2011. Cook was granted the shares on Aug. 24 due to performance based pay stemming from Apple’s 67% stock surge between 2013 and 2016 (this figure includes over $7 a share in dividends). The rise, fueled by the iPhone, put Apple in the top third of performers on the S&P 500 Index and helped Cook max out his performance-based bonus. However, the day Cook was awarded his multi-year payday Apple immediately withheld and sold 656,117 of Cook’s shares to cover his tax bill. All told, Apple sold $70.9 million in Cook’s stock at a price of $108.03, equivalent to or 52.1% of Cook’s total $135 million performance award. Over the following five trading days, Cook sold an additional 603,883 shares, raising $64.5 million to enjoy or devote to philanthropic causes. Why did Apple withhold 52% of Cook’s stock award? Because California, where Apple is headquartered, has the highest top marginal income tax rate in the country. Presently, workers earning over $400,000.00 a year are taxed at a 39.6% income tax rate. But California, a progressive state, adds a 13.3% charge for earners making over $1 million a year, surpassing and Hawaii and New York as the highest tax state in the nation. Cook’s $70 million tax bill reflects “California’s ungodly tax rate” says Alan Johnson, head of compensation consultancy Johnson Associates. Most executives would be charged in the mid-to-low 40% range, he says.
52% Tax rate is absurd. -- I would be looking at everyone around me in California with such sourness and contempt '...i'm funding your damn existence'
They get overcompensated for the tax rape.. Apple, FB, Google, Oracle and the rest, including the VC's all make up for it, otherwise they'd all move.
in addition to the other things about your character revealed in other threads today... you are also a new commie. the marginal utility of the next dollar to Cook or anyone else is none of the govt's business. the govt should be looking to find ways to help every tax payer and entrepreneur make more money and pay less taxes.
He should be taxed more. He's in the upper 1% and particulary the top 0.1 %. Taxes need to be infinatly progressive with the top 0.1 % paying much more than they are now. They made their money because the US afforded them the opportunity. And this is why....
The marginal utility of my last dollar earned should not be determined by some bureaucrat appointed by some left wing politician who hasn't worked a day in their life. Socialism is a mental disease where losers feel they are entitled to fruits of labor of others.
that my lefty friends can be explained by the following. chart 1. the top 1 percent's income were pretty much the only ones who were able to stay a little bit ahead of true inflation. chart 2. by staying even or improving a little after true inflation the top 1% became a larger share of the after tax income. Everyone else has been destroyed by massive inflation caused by the Federal Reserve printing crazy amounts of money and progressive taxes. These charts show... We should eliminate income taxes on everyone but the 1%. As far as the 1%ers. Buffet and soros and the cronies who argue for more taxes and those who vote for polticians who wish to increase taxes are the ones who should pay income taxes. [/QUOTE]