David Frederick's | iAIR BLOG

Consulting, Innovation, Strategy, Vision, Education, & Ideation

Here’s A Cheery Thought!

Here’s a cheery thought…

According to the latest daily statement from the U.S. Treasury, the U.S. government had an operating cash balance of $73.8 billion at the end of the day yesterday. Apple’s last earnings report (PDF here) showed that the company had $76.2 billion in cash and marketable securities at the end of June.

In other words, the world’s largest tech company has more cash than the world’s largest sovereign government. That’s because Apple collects more money than it spends, while the U.S. government does not. According to the CBO and U.S. Treasury, if you taxed everyone in the U.S. at 100% tax rate, you would not put a dent into the $14.5 trillion dollar defect. Still don’t think there is a spending problem in Washington?



Written by David Frederick

July 29, 2011 at 9:08 AM

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