Apple issuing bonus US$2,500 (RM9,890) following new US tax law
Apple confirmed bonuses to Bloomberg on Jan 17
Apple also to bring back cash from overseas
to spend US$30b (RM118.69b) in US over next five years
funding technical support campus, datacentres, 20,000 new jobs
growing list American biz celebrate corporate-friendly tax law
with one-time bonuses for staff
AT&T, Comcast, JetBlue Airways, Wal-Mart also giving bonuses.
My comments : I just said this a few days ago. US President Donald Trump's massive tax cuts will put more money in the hands of the American people, US companies and the private sector. They will know better what to do with that money.
For starters US giants like Apple, AT&T, Comcast, JetBlue and Wal Mart are handing out bonuses to their employees. Apple has 100,000 employees.
Why do human beings pay taxes? It is just like paying your Maintenance Fees for your condominium. Taxes are just an organised method of collecting our own money to be used for our own benefit.
Here comes the crunch. How do we know the taxes will be used by the "tax collectors" for our maximum benefit?
What is the guarantee that our taxes will not be stolen? As is happening here in Malaysia.
In Scandinavia (Norway, Sweden, Finland, Denmark) the people have the highest trust in the world in their governments. That is because their democracies are highly educated and mature. The government there is really of the people, by the people and for the people.
Scandinavians happily pay the highest taxes in the world (up to 60% in some cases). If they decide to collect higher taxes, then their people will all pay higher taxes. Because they have faith that their governments will spend the tax money for the maximum benefit of the people.
In Scandinavian countries, every government project and contract is listed in detail on some website, including who won the contract, how much money is involved, who are all the other bidders etc. They are as transparent as they can be.
Their governments use the tax money on public housing, health, schools, universities, education, public transportation, sewerage and sanitation that is not only largely free (because the people have already paid for it via taxes) but it is of the highest quality in the world.
In Scandinavian cities people drop their garbage into 'underground' vacuum chutes near their houses. The garbage is moved to somewhere else by pneumatic air pressure, processed underground and stored. Garbage trucks come by and remove the processed and 'packed' trash. Super clean, no smell, out of sight and super efficient. It improves their environment and increases their property values. I saw a similar system in Rome, Italy but they used underground conveyor belts to move the garbage away to a central location nearby. Here is a video from Stockholm, Sweden.
Link : https://youtu.be/jqJqJuaRPeQ
In the US traditionally they have less government. The American people have no government hospitals (except for Veterans Hospitals) no government schools or universities. There are no government owned airlines, trains or banks. They are almost completely private sector driven.
In other words the American people can take care of themselves. They can provide their own public goods and public services without the help of the American government.
They really do not need big government. So Donald Trump is of the view that the US government need not collect so much taxes. It is better to return the money to the American people who will know how better to spend their own money.
And it looks like this is happening. Apple will be moving back billions of US Dollars into the US to build a new data centre, new technical support campus etc which will create 20,000 new jobs.
Amazon is setting up a second super gigantic logistics centre (possibly in Washington DC) which will create 50,000 new jobs.
In Malaysia the people already pay income taxes.
The companies pay corporate taxes.
On top of that there are many import taxes, excises and duties.
Then there is sales tax.
Now they have added GST on top of everything.
It is just tax, tax, tax.
If you impose GST, then reduce the income and corporate taxes.
If you impose import taxes, cut the corporate taxes.
If you have import duties on cars, abolish the road taxes.
If you cut the subsidies, then cut the income and corporate taxes.
What I mean is if you increase one tax here, then cut some tax somewhere else.
If you have cut the subsidies, then cut the taxes also.
What is happening is the kleptocratic gomen is now collecting SO MUCH REVENUE, from GST, income taxes, corporate taxes, import duties PLUS the gomen is saving so much money from cuts in subsidies. They are saving BILLIONS.
So where is my pneumatic vacuum operated trash collection system?
Where is my medicine from the gomen hospital?
The gomen hospital tells you to buy your medicine from the private pharmacy.
Where I live now there are no land line or fixed line telephone connections. 'Tidak ada peruntukan' says Telekom. I dont even have Astro connection. Yet there is a Tesco within walking distance of my house.
Not only in Kelantan but in large parts of Pahang there are no water connections.
So where is all our money going ? What are they spending it on?
Obviously the Malaysian gomen is a retard when it comes to managing public money. In situations like this, it is better to cut taxes. Just give their money back to the people. The people will do a better job of providing for their own public goods and public services. They can take care of themselves better than the gomen.
The gomen has been stealing money to sustain its own leaders, their cronies and their corrupt patronage systems through wasteful and useless spending. That is what they have been doing.
When you suck out so much from the people and from the economy, something else has to collapse somewhere else. The people are getting poorer. Or large sections of the people are getting poorer.
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