Honkers

PauloSeraa said:

It doesn't make ANY sense at all for Google to still be paying this. If Google stopped paying this tomorrow, what is Apple supposed to do? They're not going to change the default search engine on 2 billion iPhones out of spite.

davidw said:

Honkers said:

chasm said:

This is a VERY transparent attempt by the Australian banks and their lackey, Mr Chalmers, to limit the use of digital payment systems like Apple Pay, Google Pay, and Samsung Pay *because* when those are used, those companies collect a very small (in the hundredths of a cent per dollar transacted) fee that comes out of the fees the bank chargers the merchant.

I believe the average rate is somewhere around 0.15% of the purchase amount, so a bit more than you imply.

Your research skill is OK. Your math skill is questionable.

You are correct in that Apple Pay fee (to the CC issuer) is 0.15% of the total transaction. If you were to correctly do the math, you would come up with this ...

On a $1 transaction using Apple Pay

The CC issuer gets 3% or  $.03 from the merchant. (.03 x $1)

Apple gets .15% or  $.0015 from the CC issuer. (.0015 x $1)

So just what part of .0015 cent per dollar is not ........ in the hundredths of a cent per dollar transacted ..... as @Chasm claimed?

The "very small" fee is much easier to see on a larger scale. On a $1000 transaction, the CC issuer charges the merchant $30 and Apple get $.15 cents from the CC issuer. So the CC issuer is only paying out .5% of what they charge the merchant. (.15 / 30 X 100). .5% is still a very small fee.

Maybe it's your reading skill and you thought @Chasm said ...... in the hundredths of a percent of dollar transacted and not ..... "in the hundredths of a cent per dollar transacted".  Big difference.

chasm said:

This is a VERY transparent attempt by the Australian banks and their lackey, Mr Chalmers, to limit the use of digital payment systems like Apple Pay, Google Pay, and Samsung Pay *because* when those are used, those companies collect a very small (in the hundredths of a cent per dollar transacted) fee that comes out of the fees the bank chargers the merchant.

9secondkox2 said:

welshdog said:

9secondkox2 said:

darkvader said:

9secondkox2 said:

This is theft. 

The government wants money. Solution? Just retroactively “adjust” someone’s taxes from years ago! A good solid decade ought to do it. 

Pure evil. If there was ac actual issue all this years ago, the IRS WOULD HAVE NOTIFIED THEM AND THEY COULD PAY WHAT WAS OWED. this isn’t that. This is an extortionist government. 

Microsoft didn’t do anything illegal. They took advantage of the way the tax systems were set up, like any smart company would do. 

The only theft is what Micro$oft did.  And the sad part is that a company with $136 billion in profits in 2022 only has to pay $29 billion in penalties for their decade of theft.

Minimizing tax burden by storing your money in a more favorable location (still within US jurisdiction) wasn’t illegal at the time. Retroactively making it so is just theft by the government. Pure and simple. “Adjustment” my left buttock! Microsoft didn’t do anything wrong. They looked at options available to them and utilized them. anything else would just be dumb. But now you have the government retroactively changing things. If a company knew that would happen, of course they’d do things differently in the past. But they didn’t. Because it wasn’t wrong at the time. It’s like an entrapment feature of the government. Pure thievery.

You don't know that "Microsoft didn’t do anything wrong.". No one has said they were doing anything illegal, they simply didn't do the tax dodging in a manner the IRS thinks is correct. There will be a back and forth and eventually a settlement will be reached. There is no reason to ever place any faith or belief in corporations doing the right thing, that's not how they operate. All desisions are based on what makes or saves the most money - period. Apple are slightly less guilty of that than some mega-corporations, but MSFT? Come on, they are not going to follow the law to the letter if they think they can get away with it. Gates' legacy of hacking and gaming everything, always and forever lives on.

If that was so, it would have been caught the first year. The IRS watches big corporations like s hawk. 

They are even calling this an “adjustment.” Thst means the government is changing things now. That can be applied moving forward but should never be retroactive. That’s wrong. If the rules for a gamrr we change next year, you shouldn’t lose your trophy thst you won playing by the rules in years prior.