In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $18 trillion in revenues (up 13%), while profits, down 15%, fell for the second time in the past three years.
The estimated global scale of profit shifting is close to 1 trillion USD and related tax revenue losses range between 200 and 300 billion USD. On the other hand, Apple gross profit for the quarter ending September 30, 2022 was $38.095 billions.
Cancer cure: The fiscal 2024 proposal for $9.99 billion would mark a significant jump over the $7.77 billion in the 2023 proposal and $7.61 billion in 2022. The NCI’s actual spending level is $6.9 billion right now.
Yes, people are really altruistic beings. They say you must forcibly tax all the companies and then forcibly redistribute it (because people would steal it on the way).
I really don’t expect people to give cash to cancer cure instead of buying fancy Apple products. But I think the money (some kind of surplus value) should be redistributed for venture charity.
Leave a Reply