Comment on Apple becomes third company in history to crack $4 trillion market value
moistclump@lemmy.world 2 weeks ago
Sometimes I feel we should be writing these numbers out fully. That’s something worth $4,000,000,000,000 that’s not paying anything substantial to improve your life.
Ageroth@reddthat.com 2 weeks ago
You did the thing you just complained about by not writing out 400,000,000 (400M) in relation to the 4,000,000,000,000 (4T)
To scale that down, it’s like someone paying 400 from a net worth of 4,000,000 (4M), or 4 from a net worth of 40,000, they would barely even notice. Of course that’s ignoring all the details of revenue and profit vs net worth or actual tax rates, and I can’t be bothered to look those up.
But imagine you own some land and a house that you bought for 4,000,000 (4M) that you have to pay property taxes on, and the taxes were 400 per year. That’s a 0.01% tax rate.
Shit, now I actually want to know what the real numbers are. according to Finbox “Apple’s effective tax rate for fiscal years ending September 2020 to 2024 averaged 16.5%.” although I think that’s specifically income tax.
Per macrotrends, apple profited 180,600,000,000 in 2024, from 391,035,000,000 revenue, a profit margin of ~45%, from which they payed 29,749,000,000 in taxes for an effective tax rate of 16.5% on the income.