This one is genuinely Food For Thought:
Think Different
Apple recently became the first publicly traded American company to be valued at $1 trillion. It is also the world’s single greatest direct cause of inequality. This claim is not polemical, but statistical: Apple redistributes more wealth upward than any corporation or country on the planet.
Apple redistributes more wealth upward than any corporation or country on the planet.
In fiscal year 2017, Apple counted $229 billion in revenue. That means it brought in more money in sales than all but nineteen countries did in tax revenues last year. While governments then pump most of their revenues back into their own militaries, welfare systems, and infrastructure, Apple pays its suppliers and its workers market rates and then counts billions leftover—$48 billion in profit last year alone. No country comes even close to running such a surplus, and no corporation’s is within $20 billion of that amount.
After announcing its most profitable third quarter ever last month, Apple is already running a 2018 surplus of $45 billion. What happens to this surplus encapsulates the story of inequality in this country and around the world. (Read on)
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