Oh, I don't know... this is all "inside baseball" that will only provoke the iHaters and anarcho-socialists who troll here regularly. It really makes no difference to customers in the slightest.
It isn't intended to make a difference to the customers. It's a message to the employees and the investors. The message is "I am putting Apple first and I'm being well compensated, so I don't mind passing up some of the extras that are being distributed. It's not all about money".
It's a very solid message and well worth saying. Of course, in the end, if it makes employees work harder or stay with the company longer, he'll recover more than he gave up, anyway.
This may have a lot to do with being able to remain into a lower capital gains tax bracket. Ask Mittens Romney, he's an expert in scamming the IRS and the American people.
I love the way people who have no concept of how taxes work are the first to blather about taxes.
It doesn't matter what tax bracket he's in. He would have more take home money if he accepted the dividends than if he gave them up. Tax brackets are incremental - and a higher bracket only applies to the gains above that bracket - not everything below. Furthermore, a dividend is taxed as income, not capital gains.
The only possible scenario where it might make sense is if it kept him out of AMT territory, but I'm sure he's way beyond that point.
There is no tax reason for giving these up. Under any scenario, the taxes would be only a fraction of the total (probably around half with combined state, Federal, and local taxes). So he'd still have an extra $35-40 M in his pocket after taxes if he took the dividends.
I like how everyone is rushing to the most cynical possible reasons for this. Everything I've heard, read, and seen from Tim Cook has given me the impression he's extremely humble, grounded, hard-working, sincere, focused, and passionate individual who is laser focused on Apple and not on himself. I can see him refusing this simply because he does not need it, is not ultra-greedy, and has enough perspective to realize he has more money than he knows what to do with and does not need a further dividend, or financial motivation to stay with Apple. This answer is more plausible than all the other ones being thrown out there. Yes, one can be rich, powerful, and have all these qualities- I know this because I personally know people like this, who make me hope that if I was so financially blessed I could remain as grounded and generous as them. Cook got to where he was by pure skill, hard-work, and intelligence- not by gaming the system, pulling strings, or inheriting wealth.
This was not just "learned through the 8K filing" today.
On the day the Apple's dividend/buyback policy was announced a couple of months ago, it was expressly made clear that Tim Cook specifically chose to exempt his personal shareholdings and share awards from any dividends whatsoever.
Someof us even commented on the fact that it was an incredibly classy thing to do.
This coming from a IRS scammer? Do you report all your sales tax that online companies didn't collect from you? Since you decided to make the thread political, I'd rather have the choice between a person who knows business, and is smart enough to protect his own money, than a person who has never run a business for profit, constantly lies to you, and spends everyone's money like it was his own.
Don't get your Magic Mormon Underwear in a twist. Did you know that the sales tax doesn't go to the IRS, but to state and local government? Do you have any idea about how capital gains tax works? Do you know why most CEOs keep their taxable income down to a ridiculous amount, like Steve Job's $1/year? (hint: it was not out of generosity).
Do you know what Romney's plan for education is? Increase the headcount per class and eliminate the changes Obama made to the student loan industry, which only benefit the banks.
If you make under $1M/year, voting for Romney is voting against your own interest -- which makes you an idiot. If you make more and vote for Romney, you're just an anti-American selfish prick. Either way, it's not very nice.
One of the best posts I've read in a long while...
Tim Cook is making a statement -- there are things more important than money... It's called leadership, setting an example, dedicating yourself...
It is like Mike Markkula coming out of retirement to give birth to Apple...
Or Steve taking a salary of $0.99 per year after his return to Apple as CEO.
And like Mike and Steve, in the end, Tim, and Apple, will reap the benefits many times over by the example he sets.
Thanks. And good points.
Another thing to note is that under Jobs, investors were demanding dividents for years. Cook accepting the dividend may be spun as taking the first opportunity to give himself a paycheck that the old boss didn't want to give. He is implementing alot of new, beneficial policies for Apple employee, and does not want to appear as benefitting from them himself. It's a smart, as well as classy move to make sure he doesn't compromise broader company goals by giving someone a chance to put him in a negative personal spotlight, however false that spotlight may be.
Mods, please get rid of the dumb-ass, irrelevant political comments here!?
Just wanted to point out that discussing the motivation behind turning down the cash was not irrelevant. He certainly does not need the extra cash, but I'm sure he could find some use for it. I'm simply speculating that it may not be the selfless act it appears to be. If you make all your money from capital gains, you're taxed at an extremely low rate, but if you have significant income the capital gains rate goes up (to a paltry 15%, but still).
Google it, it will help you figure out why most of us who get up in the morning to go to work pay more than twice as much as people who do nothing (I'm obviously not talking about Tim Cook here)
Just wanted to point out that discussing the motivation behind turning down the cash was not irrelevant. He certainly does not need the extra cash, but I'm sure he could find some use for it. I'm simply speculating that it may not be the selfless act it appears to be. If you make all your money from capital gains, you're taxed at an extremely low rate, but if you have significant income the capital gains rate goes up (to a paltry 15%, but still).
Google it, it will help you figure out why most of us who get up in the morning to go to work pay more than twice as much as people who do nothing (I'm obviously not talking about Tim Cook here)
Are you envious of people on welfare? In that case, why don't you just 'stay home and do nothing', since they obviously have it so good? Do you not think that maybe those people who don't have it as well as you, probably through conditions by not fault of their own, who make extremely little or not enough to fully support themselves, deserve a bit of a break, so just maybe they CAN get themselves in a better position? Are you really enraged that someone who maybe makes 1/10th of your income pays half your taxes? Can you guarantee me that your success is 100% from your merits, and if you were born in some shitty ghetto to broke/abusive parents you'd be in the exact same position you are now, and would have had exactly the same chances in life as you did?
I have friends who didn't work a day in their lives before getting into med school and becoming doctors, because their parents supported them financially 100%. I have others who inhereted their dads companies. These same people spit on others who are in a worse position than themselves, who had no choice but to work multiple minimum-wage simultaneous jobs their entire lives to support themselves and their families, because they didnt have the same luck in birth and financial luxuries, and thus could not afford to pay for university, etc. These friends then moan that they pay more taxes and these people are getting 'handouts'. I want to tell them the only reason they DID get to where they are in life is because they were lucky enough to have everything fucking handed to them by their parents their entire lives, including not needing to pay for their tuitions, cars, rent, etc as well as getting as much spending money as they desired. They're disconnected and hubristic enough to believe everyone had the same chances they did- and so are you, apparently.
I swear some of you don't seem to have a lick of humanity with your crass comments, nor a shred of perspective.
Really? From the 30 second documentary trailer, I found out that the US is like Nazi Germany because of ID cards (which apparently happened in 2008), and that the gvt is planning to plant electronic chips into me to track me.
Try to get your knowledge from more intelligent, reasonable, and respectable sources instead of this blatantly sensationalist, false, foaming at the mouth, tin-foil hat drivel.
Just wanted to point out that discussing the motivation behind turning down the cash was not irrelevant. He certainly does not need the extra cash, but I'm sure he could find some use for it. I'm simply speculating that it may not be the selfless act it appears to be. If you make all your money from capital gains, you're taxed at an extremely low rate, but if you have significant income the capital gains rate goes up (to a paltry 15%, but still).
Google it, it will help you figure out why most of us who get up in the morning to go to work pay more than twice as much as people who do nothing (I'm obviously not talking about Tim Cook here)
Why don't you Google the Tax system and ensure you are factual correct before starting this type of discussion. Speculating, yes, you said it, speculating without substance!
One of the best posts I've read in a long while...
Tim Cook is making a statement -- there are things more important than money... It's called leadership, setting an example, dedicating yourself...
It is like Mike Markkula coming out of retirement to give birth to Apple...
Or Steve taking a salary of $0.99 per year after his return to Apple as CEO.
And like Mike and Steve, in the end, Tim, and Apple, will reap the benefits many times over by the example he sets.
Well you have to understand what motivated Steve. He was not interested in money (he had plenty already). He was devoted 100% to building Apple. It was his creation. His legacy. The fact that Tim Cook turned down this money leads me to believe that maybe he is starting to think the same way.
'. I want to tell them the only reason they DID get to where they are in life is because they were lucky enough to have everything fucking handed to them by their parents their entire lives, including not needing to pay for their tuitions, cars, rent, etc as well as getting as much spending money as they desired.
People who spent a good 25 years getting no condition handouts from their parents shouldn't be talking smack about those that are getting Gov't handouts (that often come with limits, job training requirements etc)
This blog has gone to dumps! I took the post as something "positive". Here is a CEO who is passing up on approximately $75M so it can get a better use out of it. This is so unlike some CEO on WallStreet wjho are getting bonuses they don't even deserve. Tim has some "class"
Just wanted to point out that discussing the motivation behind turning down the cash was not irrelevant. He certainly does not need the extra cash, but I'm sure he could find some use for it. I'm simply speculating that it may not be the selfless act it appears to be. If you make all your money from capital gains, you're taxed at an extremely low rate, but if you have significant income the capital gains rate goes up (to a paltry 15%, but still).
Google it, it will help you figure out why most of us who get up in the morning to go to work pay more than twice as much as people who do nothing (I'm obviously not talking about Tim Cook here)
Quote:
Originally Posted by Slurpy
Are you envious of people on welfare? In that case, why don't you just 'stay home and do nothing', since they obviously have it so good? Do you not think that maybe those people who don't have it as well as you, probably through conditions by not fault of their own, who make extremely little or not enough to fully support themselves, deserve a bit of a break, so just maybe they CAN get themselves in a better position? Are you really enraged that someone who maybe makes 1/10th of your income pays half your taxes? Can you guarantee me that your success is 100% from your merits, and if you were born in some shitty ghetto to broke/abusive parents you'd be in the exact same position you are now, and would have had exactly the same chances in life as you did?
I have friends who didn't work a day in their lives before getting into med school and becoming doctors, because their parents supported them financially 100%. I have others who inhereted their dads companies. These same people spit on others who are in a worse position than themselves, who had no choice but to work multiple minimum-wage simultaneous jobs their entire lives to support themselves and their families, because they didnt have the same luck in birth and financial luxuries, and thus could not afford to pay for university, etc. These friends then moan that they pay more taxes and these people are getting 'handouts'. I want to tell them the only reason they DID get to where they are in life is because they were lucky enough to have everything fucking handed to them by their parents their entire lives, including not needing to pay for their tuitions, cars, rent, etc as well as getting as much spending money as they desired. They're disconnected and hubristic enough to believe everyone had the same chances they did- and so are you, apparently.
I swear some of you don't seem to have a lick of humanity with your crass comments, nor a shred of perspective.
I'm pretty sure he was talking about people that make all their money from investments and not those on Welfare, lol.
People who spent a good 25 years getting no condition handouts from their parents shouldn't be talking smack about those that are getting Gov't handouts (that often come with limits, job training requirements etc)
My point precisely. And I find that the biggest critics of 'handouts' lived exactly this kind of life, being born into wealth or at least had substantial financial assistance before attaining financial independance, which makes it all the more despicable and hypocritical. They got more 'handouts' than people getting gvt assistance will ever hope to get.
Whats more despicable is that they try to push this narrative (like the previous poster) that these people that 'do nothing' (ie. unemployed) somehow have it made, are living it up, and are to be envied, content in their situation and just accepting 'handouts;. I know a few unemployed people, and every single one of them is working their asses off trying to find employment. Not only that, but being unemployed causes depression, depletes the self-confidence, and promotes a bunch of other negative psychological issues which is often internal torment and hell. Yet, LordJohn would have you believe these are the people to be envied, as they 'don't have to work'. A sick mentality which shows an utter lack of humanity and disconnection with the real world and the real facts of unemployment and lower income.
Sort of reminds me of some old guy that only took $1/yr salary. Just can't bet on these people that don't take all they possibly can -- I would personally like to believe that the million shares he got at becoming CEO was fair and didn't need to be padded where as others might have cried foul.
Comments
It isn't intended to make a difference to the customers. It's a message to the employees and the investors. The message is "I am putting Apple first and I'm being well compensated, so I don't mind passing up some of the extras that are being distributed. It's not all about money".
It's a very solid message and well worth saying. Of course, in the end, if it makes employees work harder or stay with the company longer, he'll recover more than he gave up, anyway.
I love the way people who have no concept of how taxes work are the first to blather about taxes.
It doesn't matter what tax bracket he's in. He would have more take home money if he accepted the dividends than if he gave them up. Tax brackets are incremental - and a higher bracket only applies to the gains above that bracket - not everything below. Furthermore, a dividend is taxed as income, not capital gains.
The only possible scenario where it might make sense is if it kept him out of AMT territory, but I'm sure he's way beyond that point.
There is no tax reason for giving these up. Under any scenario, the taxes would be only a fraction of the total (probably around half with combined state, Federal, and local taxes). So he'd still have an extra $35-40 M in his pocket after taxes if he took the dividends.
Exactly.
Mods, please get rid of the dumb-ass, irrelevant political comments here!?
Yeah... "classy" covers it!
Quote:
Originally Posted by ljocampo
This coming from a IRS scammer? Do you report all your sales tax that online companies didn't collect from you? Since you decided to make the thread political, I'd rather have the choice between a person who knows business, and is smart enough to protect his own money, than a person who has never run a business for profit, constantly lies to you, and spends everyone's money like it was his own.
Don't get your Magic Mormon Underwear in a twist. Did you know that the sales tax doesn't go to the IRS, but to state and local government? Do you have any idea about how capital gains tax works? Do you know why most CEOs keep their taxable income down to a ridiculous amount, like Steve Job's $1/year? (hint: it was not out of generosity).
Do you know what Romney's plan for education is? Increase the headcount per class and eliminate the changes Obama made to the student loan industry, which only benefit the banks.
If you make under $1M/year, voting for Romney is voting against your own interest -- which makes you an idiot. If you make more and vote for Romney, you're just an anti-American selfish prick. Either way, it's not very nice.
Quote:
Originally Posted by Dick Applebaum
+++++ QFT
One of the best posts I've read in a long while...
Tim Cook is making a statement -- there are things more important than money... It's called leadership, setting an example, dedicating yourself...
It is like Mike Markkula coming out of retirement to give birth to Apple...
Or Steve taking a salary of $0.99 per year after his return to Apple as CEO.
And like Mike and Steve, in the end, Tim, and Apple, will reap the benefits many times over by the example he sets.
Thanks. And good points.
Another thing to note is that under Jobs, investors were demanding dividents for years. Cook accepting the dividend may be spun as taking the first opportunity to give himself a paycheck that the old boss didn't want to give. He is implementing alot of new, beneficial policies for Apple employee, and does not want to appear as benefitting from them himself. It's a smart, as well as classy move to make sure he doesn't compromise broader company goals by giving someone a chance to put him in a negative personal spotlight, however false that spotlight may be.
Quote:
Originally Posted by anantksundaram
Mods, please get rid of the dumb-ass, irrelevant political comments here!?
Just wanted to point out that discussing the motivation behind turning down the cash was not irrelevant. He certainly does not need the extra cash, but I'm sure he could find some use for it. I'm simply speculating that it may not be the selfless act it appears to be. If you make all your money from capital gains, you're taxed at an extremely low rate, but if you have significant income the capital gains rate goes up (to a paltry 15%, but still).
Google it, it will help you figure out why most of us who get up in the morning to go to work pay more than twice as much as people who do nothing (I'm obviously not talking about Tim Cook here)
The IRS and tax code is one of the biggest scams there is!
http://freedomtofascism.com -- this documentary movie will start explaining...
http://www.paynoincometax.com/pdf/federal_mafia.pdf -- This book will finish explaining it.
Quote:
Originally Posted by LordJohnWhorfin
Just wanted to point out that discussing the motivation behind turning down the cash was not irrelevant. He certainly does not need the extra cash, but I'm sure he could find some use for it. I'm simply speculating that it may not be the selfless act it appears to be. If you make all your money from capital gains, you're taxed at an extremely low rate, but if you have significant income the capital gains rate goes up (to a paltry 15%, but still).
Google it, it will help you figure out why most of us who get up in the morning to go to work pay more than twice as much as people who do nothing (I'm obviously not talking about Tim Cook here)
Are you envious of people on welfare? In that case, why don't you just 'stay home and do nothing', since they obviously have it so good? Do you not think that maybe those people who don't have it as well as you, probably through conditions by not fault of their own, who make extremely little or not enough to fully support themselves, deserve a bit of a break, so just maybe they CAN get themselves in a better position? Are you really enraged that someone who maybe makes 1/10th of your income pays half your taxes? Can you guarantee me that your success is 100% from your merits, and if you were born in some shitty ghetto to broke/abusive parents you'd be in the exact same position you are now, and would have had exactly the same chances in life as you did?
I have friends who didn't work a day in their lives before getting into med school and becoming doctors, because their parents supported them financially 100%. I have others who inhereted their dads companies. These same people spit on others who are in a worse position than themselves, who had no choice but to work multiple minimum-wage simultaneous jobs their entire lives to support themselves and their families, because they didnt have the same luck in birth and financial luxuries, and thus could not afford to pay for university, etc. These friends then moan that they pay more taxes and these people are getting 'handouts'. I want to tell them the only reason they DID get to where they are in life is because they were lucky enough to have everything fucking handed to them by their parents their entire lives, including not needing to pay for their tuitions, cars, rent, etc as well as getting as much spending money as they desired. They're disconnected and hubristic enough to believe everyone had the same chances they did- and so are you, apparently.
I swear some of you don't seem to have a lick of humanity with your crass comments, nor a shred of perspective.
Quote:
Originally Posted by libertyforall
The IRS and tax code is one of the biggest scams there is!
http://freedomtofascism.com -- this documentary movie will start explaining...
http://www.paynoincometax.com/pdf/federal_mafia.pdf -- This book will finish explaining it.
Really? From the 30 second documentary trailer, I found out that the US is like Nazi Germany because of ID cards (which apparently happened in 2008), and that the gvt is planning to plant electronic chips into me to track me.
Try to get your knowledge from more intelligent, reasonable, and respectable sources instead of this blatantly sensationalist, false, foaming at the mouth, tin-foil hat drivel.
Quote:
Originally Posted by LordJohnWhorfin
Just wanted to point out that discussing the motivation behind turning down the cash was not irrelevant. He certainly does not need the extra cash, but I'm sure he could find some use for it. I'm simply speculating that it may not be the selfless act it appears to be. If you make all your money from capital gains, you're taxed at an extremely low rate, but if you have significant income the capital gains rate goes up (to a paltry 15%, but still).
Google it, it will help you figure out why most of us who get up in the morning to go to work pay more than twice as much as people who do nothing (I'm obviously not talking about Tim Cook here)
Why don't you Google the Tax system and ensure you are factual correct before starting this type of discussion. Speculating, yes, you said it, speculating without substance!
Quote:
Originally Posted by Dick Applebaum
+++++ QFT
One of the best posts I've read in a long while...
Tim Cook is making a statement -- there are things more important than money... It's called leadership, setting an example, dedicating yourself...
It is like Mike Markkula coming out of retirement to give birth to Apple...
Or Steve taking a salary of $0.99 per year after his return to Apple as CEO.
And like Mike and Steve, in the end, Tim, and Apple, will reap the benefits many times over by the example he sets.
Well you have to understand what motivated Steve. He was not interested in money (he had plenty already). He was devoted 100% to building Apple. It was his creation. His legacy. The fact that Tim Cook turned down this money leads me to believe that maybe he is starting to think the same way.
People who spent a good 25 years getting no condition handouts from their parents shouldn't be talking smack about those that are getting Gov't handouts (that often come with limits, job training requirements etc)
This blog has gone to dumps! I took the post as something "positive". Here is a CEO who is passing up on approximately $75M so it can get a better use out of it. This is so unlike some CEO on WallStreet wjho are getting bonuses they don't even deserve. Tim has some "class"
Quote:
Originally Posted by LordJohnWhorfin
Just wanted to point out that discussing the motivation behind turning down the cash was not irrelevant. He certainly does not need the extra cash, but I'm sure he could find some use for it. I'm simply speculating that it may not be the selfless act it appears to be. If you make all your money from capital gains, you're taxed at an extremely low rate, but if you have significant income the capital gains rate goes up (to a paltry 15%, but still).
Google it, it will help you figure out why most of us who get up in the morning to go to work pay more than twice as much as people who do nothing (I'm obviously not talking about Tim Cook here)
Quote:
Originally Posted by Slurpy
Are you envious of people on welfare? In that case, why don't you just 'stay home and do nothing', since they obviously have it so good? Do you not think that maybe those people who don't have it as well as you, probably through conditions by not fault of their own, who make extremely little or not enough to fully support themselves, deserve a bit of a break, so just maybe they CAN get themselves in a better position? Are you really enraged that someone who maybe makes 1/10th of your income pays half your taxes? Can you guarantee me that your success is 100% from your merits, and if you were born in some shitty ghetto to broke/abusive parents you'd be in the exact same position you are now, and would have had exactly the same chances in life as you did?
I have friends who didn't work a day in their lives before getting into med school and becoming doctors, because their parents supported them financially 100%. I have others who inhereted their dads companies. These same people spit on others who are in a worse position than themselves, who had no choice but to work multiple minimum-wage simultaneous jobs their entire lives to support themselves and their families, because they didnt have the same luck in birth and financial luxuries, and thus could not afford to pay for university, etc. These friends then moan that they pay more taxes and these people are getting 'handouts'. I want to tell them the only reason they DID get to where they are in life is because they were lucky enough to have everything fucking handed to them by their parents their entire lives, including not needing to pay for their tuitions, cars, rent, etc as well as getting as much spending money as they desired. They're disconnected and hubristic enough to believe everyone had the same chances they did- and so are you, apparently.
I swear some of you don't seem to have a lick of humanity with your crass comments, nor a shred of perspective.
I'm pretty sure he was talking about people that make all their money from investments and not those on Welfare, lol.
Quote:
Originally Posted by charlituna
People who spent a good 25 years getting no condition handouts from their parents shouldn't be talking smack about those that are getting Gov't handouts (that often come with limits, job training requirements etc)
My point precisely. And I find that the biggest critics of 'handouts' lived exactly this kind of life, being born into wealth or at least had substantial financial assistance before attaining financial independance, which makes it all the more despicable and hypocritical. They got more 'handouts' than people getting gvt assistance will ever hope to get.
Whats more despicable is that they try to push this narrative (like the previous poster) that these people that 'do nothing' (ie. unemployed) somehow have it made, are living it up, and are to be envied, content in their situation and just accepting 'handouts;. I know a few unemployed people, and every single one of them is working their asses off trying to find employment. Not only that, but being unemployed causes depression, depletes the self-confidence, and promotes a bunch of other negative psychological issues which is often internal torment and hell. Yet, LordJohn would have you believe these are the people to be envied, as they 'don't have to work'. A sick mentality which shows an utter lack of humanity and disconnection with the real world and the real facts of unemployment and lower income.
Reality check this is appleinsider.com not rommey lies or obama lies or politicians lies...please
SAMSUNG DOES LIE.....A LOT.
$75m is a lot of money even for him. Wot an idiot.
Fortune has a really good (and lengthy) article on Tim Cook and the direction he's taking Apple. A nice read and worth the time.
http://tech.fortune.cnn.com/2012/05/24/apple-tim-cook-ceo/
Sort of reminds me of some old guy that only took $1/yr salary. Just can't bet on these people that don't take all they possibly can -- I would personally like to believe that the million shares he got at becoming CEO was fair and didn't need to be padded where as others might have cried foul.