i think it's a lot more than that, and, perfect example of what i'm talking about
Apple's iMountain of money has nearly doubled since the end of fiscal 2010.
Now one reason Apple is still hanging onto cash is because it doesn't want to pay a sizeable chunk of taxes to Uncle Sam if it used that money on something productive or shareholder friendly. Oppenheimer said Tuesday that $64 billion of its cash was offshore. It is "trapped" if you will.
The $5 Trillion Stash: U.S. Corporations' Money Hoard Is Bigger Than the GDP of Germany
As Michael Mandel of the Progressive Policy Institute has written, lagging business investment is one of the chief problems slowing down our recovery. Companies are letting money sit idle, accruing minimal interest, rather than spending it on new equipment or offices -- and that's not even touching research and development or new employees.
In the meantime, companies are going to keep stuffing cash into their mattresses until the economy calms down.
Sales are up, consumption spending has fully recovered, and profits are at an all-time high. So why are businesses hoarding cash, both from retained earnings and borrowing, and holding back on hiring? The answer seems to be uncertainty, about a lot of things but particularly Europe's debt crisis, the looming U.S. debt crisis, and the ensuing possibility of another freeze out in the credit markets.
In all, federal taxes would increase by about $423 billion next year, according to figures from the nonpartisan Congressional Budget Office and the Joint Committee on Taxation, the official scorekeepers for Congress.
Combined with federal spending cuts scheduled to take effect next year, the combination of tax increases and spending cuts would probably send the U.S. economy back into recession, according to a recent CBO study.
In dollars, next year's tax hikes would be the biggest. But the size of the economy is 80 times bigger than it was in the 1940s, which is why economists usually measure taxes and government spending as a share of the U.S. economy.
The average tax cut that people making over $1 million received exceeded $110,000 in each of the last nine years — for a total of more than $1 million over this period.
The tax cuts made the tax system less progressive. In each of the nine years from 2004 through 2012, the tax cuts increased the after-tax income of the highest-income taxpayers by a far larger percentage than they did for middle- and low-income taxpayers. For example, in 2010, the year in which all of the Bush income and estate tax cuts were fully phased in, they increased the after-tax income of people making over $1 million by more than 7.3 percent, but increased the after-tax income of the middle 20 percent of households by just 2.8 percent.
more money in the economy will allow more trade and efficient use of that capital, which grows GDP
quote:do you really think it's everyone else's fault?
it can easily be argued that those demos refuse to attempt to connect with the GOP
quote:how is this not obvious to everyone?
It's pretty much every group except white men that vote for the Dems. There's nothing specific to these groups. Heck the "Other" category on race voted for the Dems at about a 75% clip.
Nearly every group votes Democratic except white men. The party targeting one specific racial group is the GOP, which is why they have such a demographic problem. White men are increasingly a smaller portion of the electorate (and really, they win old white men).
The problem is not that the Dems target Asians, or Jews, or whatever. It's that the GOP targets old white men, and no one else is buying the rhetoric. It's the Dems who have a broad-based coalition.