In the News II

Quote: Mission146

If there's anyone still voting for Trump, at this point, I think Trump could come out and say that he raped her and it wouldn't swing any of them.

And yet Trump and Biden are tied in the polls. I guess no one is voting for Biden either.

Quote:

Former Proud Boys chairman Henry “Enrique” Tarrio and three other members of the extremist group were found guilty Thursday of seditious conspiracy in the Jan. 6, 2021, attack on the U.S. Capitol.

Over nearly 15 weeks of trial, prosecutors alleged that the Proud Boys on trial saw themselves as Donald Trump’s “army.” Inspired by his directive to “stand by” during a September 2020 presidential debate and mobilized by his December 2020 call for a “wild” protest when Congress met to certify the election, prosecutors said the men sought to keep Trump in power through violence.

Quote: kenarman

And yet Trump and Biden are tied in the polls. I guess no one is voting for Biden either.

I don't think you read my statement as I intended it.

What I am saying is that Trump could come out and say he raped someone and there is not a single person who presently says they intend to vote for him whose mind would be changed about voting for him.

Quote: kenarman

And yet Trump and Biden are tied in the polls. I guess no one is voting for Biden either.

Don’t worry, Biden will pull ahead once we actually get closer to the election.

Quote: Mission146

If there's anyone still voting for Trump, at this point, I think Trump could come out and say that he raped her and it wouldn't swing any of them.

His strategy should be to tell the truth.

If we do the crime, we do the time (or pay money in this case).

AAPL is forecasting 16% tax rate next Q.

Why would their rate be so low?

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zerohedge

May 4, 2023

AAPL Q3 guidance:

- YoY revenue growth similar to Q2 (assuming no worsening economic environment)
- Services revenue growth similar to Q2
- OpEx between $13.6BN and $15.8 BN
- FX hit to growth: 4%
- Gross margin: 44-45%
- Opex: $13.6B-13.8B
- Tax rate: 16%

https://twitter.com/zerohedge/status/1654237109446639616?cxt=HHwWgICwrd74g_UtAAAA

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The facts about Apple’s tax payments

November 6, 2017
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1. Apple is the largest taxpayer in the world, paying over $35 billion in corporate income taxes in the last three years. Apple pays taxes in every country where we sell our products.

When a customer buys an Apple product outside the United States, the profit is first taxed in the country where the sale takes place. Then Apple pays taxes to Ireland, where Apple sales and distribution activity is executed by some of the 6,000 employees working there. Additional tax is then also due in the US when the earnings are repatriated.

Apple’s worldwide effective tax rate is 24.6 percent, higher than average for US multinationals.
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https://www.apple.com/newsroom/2017/11/the-facts-about-apple-tax-payments/

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These 19 Fortune 100 Companies Paid Next to Nothing—or Nothing at All—in Taxes in 2021

APR 26, 2022
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Amazon’s effective federal income tax rate was 6.1 percent in 2021, with $35.1 billion in U.S. earnings and $2.1 billion in federal income taxes.

ExxonMobil’s effective federal income tax rate was 2.8 percent in 2021, with $9.3 billion in U.S. earnings and $236 million in federal income taxes.

Microsoft’s effective federal income tax rate was 9.7 percent in 2021, with $33.7 billion in U.S. earnings and $3.3 billion in federal income taxes.

JP Morgan Chase’s effective federal income tax rate was 5.9 percent in 2021, with $48.2 billion in U.S. earnings and $2.9 billion in federal income taxes.

Verizon’s effective federal income tax rate was 6.9 percent in 2021, with $27.2 billion in U.S. earnings and $1.9 billion in federal income taxes.

Ford’s effective federal income tax rate was 1 percent in 2021, with $10 billion in U.S. earnings and only $100 million in federal income taxes.

GM’s effective federal income tax rate was 0.2 percent in 2021, with $9.4 billion in U.S. earnings and only $20 million in federal income taxes.

Chevron paid only $174 million in federal income taxes, earning $9.5 billion last year. That’s an effective federal income tax rate of only 1.8 percent.

Bank of America’s effective federal income tax rate was 3.5 percent in 2021, with $31 billion in U.S. earnings and only $1.1 billion in federal income taxes.

UPS’ effective federal income tax rate was 9.9 percent in 2021, with $14 billion in U.S. earnings and $1.4 billion in federal income taxes.

FedEx’s effective federal income tax rate was 4.2 percent in 2021, with $4.7 billion in U.S. earnings and only $199 million in federal income taxes.

MetLife’s effective federal income tax rate was 1.3 percent in 2021, with $4.8 billion in U.S. earnings and only $62 billion in federal income taxes.

Merck’s effective federal income tax rate was 4 percent in 2021, with $1.9 billion in U.S. earnings and only $74 million in federal income taxes.

Nike’s effective federal income tax rate was 5.9 percent in 2021, with $5.6 billion in U.S. earnings and only $328 million in federal income taxes.

Coca-Cola’s effective federal income tax was 7.1 percent in 2021, with $3.4 billion in U.S. earnings and only $243 million in federal income taxes.
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https://www.americanprogress.org/article/these-19-fortune-100-companies-paid-next-to-nothing-or-nothing-at-all-in-taxes-in-2021/

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Quote: DoubleGold

AAPL is forecasting 16% tax rate next Q.

Why would their rate be so low?

--------------------------

zerohedge

May 4, 2023

AAPL Q3 guidance:

- YoY revenue growth similar to Q2 (assuming no worsening economic environment)
- Services revenue growth similar to Q2
- OpEx between $13.6BN and $15.8 BN
- FX hit to growth: 4%
- Gross margin: 44-45%
- Opex: $13.6B-13.8B
- Tax rate: 16%

https://twitter.com/zerohedge/status/1654237109446639616?cxt=HHwWgICwrd74g_UtAAAA

---------------------------

The facts about Apple’s tax payments

November 6, 2017
.
.
.
1. Apple is the largest taxpayer in the world, paying over $35 billion in corporate income taxes in the last three years. Apple pays taxes in every country where we sell our products.

When a customer buys an Apple product outside the United States, the profit is first taxed in the country where the sale takes place. Then Apple pays taxes to Ireland, where Apple sales and distribution activity is executed by some of the 6,000 employees working there. Additional tax is then also due in the US when the earnings are repatriated.

Apple’s worldwide effective tax rate is 24.6 percent, higher than average for US multinationals.
.
.
.
https://www.apple.com/newsroom/2017/11/the-facts-about-apple-tax-payments/

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These 19 Fortune 100 Companies Paid Next to Nothing—or Nothing at All—in Taxes in 2021

APR 26, 2022
.
.
.
Amazon’s effective federal income tax rate was 6.1 percent in 2021, with $35.1 billion in U.S. earnings and $2.1 billion in federal income taxes.

ExxonMobil’s effective federal income tax rate was 2.8 percent in 2021, with $9.3 billion in U.S. earnings and $236 million in federal income taxes.

Microsoft’s effective federal income tax rate was 9.7 percent in 2021, with $33.7 billion in U.S. earnings and $3.3 billion in federal income taxes.

JP Morgan Chase’s effective federal income tax rate was 5.9 percent in 2021, with $48.2 billion in U.S. earnings and $2.9 billion in federal income taxes.

Verizon’s effective federal income tax rate was 6.9 percent in 2021, with $27.2 billion in U.S. earnings and $1.9 billion in federal income taxes.

Ford’s effective federal income tax rate was 1 percent in 2021, with $10 billion in U.S. earnings and only $100 million in federal income taxes.

GM’s effective federal income tax rate was 0.2 percent in 2021, with $9.4 billion in U.S. earnings and only $20 million in federal income taxes.

Chevron paid only $174 million in federal income taxes, earning $9.5 billion last year. That’s an effective federal income tax rate of only 1.8 percent.

Bank of America’s effective federal income tax rate was 3.5 percent in 2021, with $31 billion in U.S. earnings and only $1.1 billion in federal income taxes.

UPS’ effective federal income tax rate was 9.9 percent in 2021, with $14 billion in U.S. earnings and $1.4 billion in federal income taxes.

FedEx’s effective federal income tax rate was 4.2 percent in 2021, with $4.7 billion in U.S. earnings and only $199 million in federal income taxes.

MetLife’s effective federal income tax rate was 1.3 percent in 2021, with $4.8 billion in U.S. earnings and only $62 billion in federal income taxes.

Merck’s effective federal income tax rate was 4 percent in 2021, with $1.9 billion in U.S. earnings and only $74 million in federal income taxes.

Nike’s effective federal income tax rate was 5.9 percent in 2021, with $5.6 billion in U.S. earnings and only $328 million in federal income taxes.

Coca-Cola’s effective federal income tax was 7.1 percent in 2021, with $3.4 billion in U.S. earnings and only $243 million in federal income taxes.
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.
.
https://www.americanprogress.org/article/these-19-fortune-100-companies-paid-next-to-nothing-or-nothing-at-all-in-taxes-in-2021/

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It depends on where you look but I certainly wouldn't trust Apples self analysis of it's rate. If you search the only source using the 24.6% rate is Apple themselves.

Effective Tax Rate Benchmarks
Name Ticker Effective Tax Rate
Amazon.com, Inc. NASDAQGS:AMZN -24.6%
Sonim Technologies, Inc. NASDAQCM:SONM -1.3%
Information Technology SECTOR:IT.US 5.1%
Netflix, Inc. NASDAQGS:NFLX 11.6%
Hewlett Packard Enterprise Company NYSE:HPE 14.9%
Apple Inc. NASDAQGS:AAPL 16.1%
Alphabet Inc. NASDAQGS:GOOGL 17.0%
Microsoft Corporation NASDAQGS:MSFT 18.9%

I posted that comparison because AAPL's Q3 guidance last night is going against them bragging several years ago.

Or it could be the economy is going off a cliff, etc.

So it could hurt their credibility.

Regardless, 16% seems kind of low, especially when credit default swaps for the government are skyrocketing similar to the 2008 financial crisis.


If I remember correctly, one of the media firms wrote a negative article about AAPL and taxes several years ago.

Something about an Ireland tax loophole.

So they probably penned that in retaliation of the article.

Up 20.32% today:

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U.S. 1 Month Treasury Bill

https://www.wsj.com/market-data/quotes/bond/BX/TMUBMUSD01M

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Not adding up.

BLS reports 253,000 jobs added in April


According to their A-6 Table of Employed and unemployed full- and part-time workers

Full Time Workers

March: 134,339
April: 134,500
Change: 161,000

Part Time Workers

March: 26,747
April: 26,663
Change: -84,000

Net Gain: 77,000