Apple richer than US Govt...

[freshseasons]

As of today, Apple boss Steve Jobs is richer than Uncle Sam.

While the world’s most powerful government has just $73.76 billion in its reserves, the world’s top technology company has a neat cash pile of $75.87 billion Thursday.

The US Treasury Department Thursday warned that it has now only this much operating budget as Republicans and Democrats fight over raising the nation’s debt ceiling. With only that much reserve at its disposal, the Obama White House has warned the Republicans that the US government won’t be able to meet its obligations as of Aug 2.

Facing a government default, Mr. Obama can definitely turn to Steve Jobs to give him a very brief breathing space.

Source: The Hindu : Sci-Tech : Apple now has more cash than the U.S. government

[saswat23]

nice info dude..

[Nipun]

Originally Posted by freshseasons

Source: The Hindu : Sci-Tech : Apple now has more cash than the U.S. government

Thanks for sharing!

[xtremevicky]

I bet Kalmadi is richer than both

[d6bmg]

Originally Posted by xtremevicky

I bet Kalmadi is richer than both

Nice joke!!

[ico]

$1.4 Trillion India’s Black Money Stashed in Swiss Banks

if this is to be believed....

[Skud]

Is this info provided by some of those Hazare activists? Hard to believe, those who are actually intelligent enough to evade taxes and all to garner this amount would allow it to remain idle at 1-2% return when the vibrant Indian stock market can fetch a lot lot more. Heck, even our own savings bank account provide more.

[Sarath]

Originally Posted by Skud

Is this info provided by some of those Hazare activists? Hard to believe, those who are actually intelligent enough to evade taxes and all to garner this amount would allow it to remain idle at 1-2% return when the vibrant Indian stock market can fetch a lot lot more. Heck, even our own savings bank account provide more.

Lol with so much money who would care about investment. The way its been earned, I wont be surprised to hear that they pay the banks in return to keep this humongous stash safe.

[Skud]

Originally Posted by Sarath

Lol with so much money who would care about investment. The way its been earned, I wont be surprised to hear that they pay the banks in return to keep this humongous stash safe.

Total misconception. If they would not care for their money, they would not evade tax in the first place. They would rather earn x crore, give Govt. .3x crore and be happy with .7x crore. They do care about investments, more than you and I do.

[Sarath]

Originally Posted by Skud

Total misconception. If they would not care for their money, they would not evade tax in the first place. They would rather earn x crore, give Govt. .3x crore and be happy with .7x crore. They do care about investments, more than you and I do.

Umm...aren't we talking about black money? black money= unaccounted for money.

How can they even think about paying taxes on it?
Its like a thief stealing the Mona Lisa and then opening an art gallery.

[Skud]

It's not stealing, buddy. It's like earning from your painting and not disclosing it or disclosing lesser income. The money earned is from one's own hard work. It's become black when they are not showing that income, apparently to avoid taxes. But the income is their for sure. We need to get our taxes properly.

[Sarath]

Originally Posted by Skud

It's not stealing, buddy. It's like earning from your painting and not disclosing it or disclosing lesser income. The money earned is from one's own hard work. It's become black when they are not showing that income, apparently to avoid taxes. But the income is their for sure. We need to get our taxes properly.

Most of that money is made by corruption. Thats nobody's hardwork.

The businessmen etc who disclose lesser amounts well they constitute into what you are saying. However they combined cant beat scams such as the 2G and Adarsh ones.

[KDroid]

Originally Posted by Sarath

Most of that money is made by corruption. Thats nobody's hardwork.

The businessmen etc who disclose lesser amounts well they constitute into what you are saying. However they combined cant beat scams such as the 2G and Adarsh ones.

Yeah!

[Skud]

Originally Posted by Sarath

Most of that money is made by corruption. Thats nobody's hardwork.

The businessmen etc who disclose lesser amounts well they constitute into what you are saying. However they combined cant beat scams such as the 2G and Adarsh ones.

I was actually thinking about the non-scam, "regular" part.

[Sarath]

^^^If you have ever bought a house you will know that most of them are undervalued so as to pay less tax. Now that falls into the category you are thinking of.
So is paying the "traffic policewallah" which falls out of his income and thus remains undisclosed.

But when we talk about swiss banks. Guess how much of it is needed to actually stash it out there. Its mostly the bureaucrats who mint more than they can chew.

[Tech&ME]

hmmmmm...

I agree with Skud here!!

Actually when people start to make huge money, they start thinking of keeping the most part of it with them, and either paying a small amount of tax or simply paying no tax.

In most cases, people do pay the tax but a lesser amount.

Now the question is Why would you pay the TAX for ? heck, I know all of you will say, govt. collects taxes to build good roads, give good facilities for rural education, etc, etc.

But tell how good our govt. actually is, do they actually make roads ?

The answer is NO, we are forced to live in hell!!

Hence, the person(say business man) who earn a huge amount of money by doing his hard work, does not feel to give a penny to this idiot govt. (he is justified in his dicission I guess! ). And that's how "black money" gets created.

I will never pay tax to this govt. which actually eats my money and does nothing, so I am better off to put it in swiss bank then.

So, that's the concept of "Black Money" if I am not wrong.

[d6bmg]

Look at another site. If there were no tax fees then we could have computer hardware at much lower price, and then $1080 config would not become 80,000/- but it would stay around 50,000/-

[Skud]

Originally Posted by Tech&ME

hmmmmm...

I agree with Skud here!!

Actually when people start to make huge money, they start thinking of keeping the most part of it with them, and either paying a small amount of tax or simply paying no tax.

In most cases, people do pay the tax but a lesser amount.

Now the question is Why would you pay the TAX for ? heck, I know all of you will say, govt. collects taxes to build good roads, give good facilities for rural education, etc, etc.

But tell how good our govt. actually is, do they actually make roads ?

The answer is NO, we are forced to live in hell!!

Hence, the person(say business man) who earn a huge amount of money by doing his hard work, does not feel to give a penny to this idiot govt. (he is justified in his dicission I guess! ). And that's how "black money" gets created.

I will never pay tax to this govt. which actually eats my money and does nothing, so I am better off to put it in swiss bank then.

So, that's the concept of "Black Money" if I am not wrong.

If you are into business, then you might, although you have to feed quite a few people for that. If you are into job, your employer will simply deduct the TDS from your salary. And the problem is not in the taxes, but in its lower collection. Remember, whatever the country in doing, be it space programme or whatever, it's from our money only. If nobody was paying taxes, probably you and I would not have accessing this forum today right now.

Originally Posted by d6bmg

Look at another site. If there were no tax fees then we could have computer hardware at much lower price, and then $1080 config would not become 80,000/- but it would stay around 50,000/-

Lets just say Govt. stops collecting taxes and also stops giving subsidies and all. Do you have any idea how much a cylinder of gas or oil would cost? Govt. is there to collect taxes, and every country does it and they have to. Otherwise, economy would simply stop. The problem as stated earlier, is its lower collection. As per FRBM Act, GoI had to reduce it Revenue deficit to 0% and Fiscal Deficit to 3% by the end of FY 2007-08. And guess what have happened since. Newer targets every year with the goal nowhere nearer.


Enough OT I guess.

[Tech&ME]

Originally Posted by Skud

If you are into business, then you might, although you have to feed quite a few people for that. If you are into job, your employer will simply deduct the TDS from your salary. And the problem is not in the taxes, but in its lower collection. Remember, whatever the country in doing, be it space programme or whatever, it's from our money only. If nobody was paying taxes, probably you and I would not have accessing this forum today right now.

True, but what to do with our babu's ? They are eating 75% of the tax payers money!!!!

Originally Posted by Skud

Lets just say Govt. stops collecting taxes and also stops giving subsidies and all. Do you have any idea how much a cylinder of gas or oil would cost? Govt. is there to collect taxes, and every country does it and they have to. Otherwise, economy would simply stop. The problem as stated earlier, is its lower collection. As per FRBM Act, GoI had to reduce it Revenue deficit to 0% and Fiscal Deficit to 3% by the end of FY 2007-08. And guess what have happened since. Newer targets every year with the goal nowhere nearer.


Enough OT I guess.

That was shocking!! 0% ?

America is in regular Revenue deficit of 5% + and so does every other country on this planet. Why ?

Because our govt. takes loans to build roads, etc, etc and the babu's eat them up!!! :laugh:

Regarding Subsidy: I think that is a major tool of corruption. First you pay bribe to the babu's to get subsidy for your factory or business!!

And with regard to Gas and Oil price, According to America and Mr. Obama in particular the higher price of Oil is due to India's policies!! Heck, he is correct this time!!

Reasons :

1. We donot have a good relationship with Gulf Countries.
2. With most of this country who supply Oil to India, India has not signed any treaties with them.
3. So, what ever price they ask, India has to oblige.

[MetalheadGautham]

India has never been a country for the poor OR for the honest rich actually. I mean the poor are made to suffer and barely get enough opportunities, while the honest rich are milked to feed politicians. So what we end up with is a bunch of voiceless poor, honest rich who never get enough returns proportional to the taxes they pay, bunch of babus who eat the honest rich's money, bunch of rich who prefer illegally hiding their money in swiss bank, and a rather well-voiced middle class which is indifferent to any of the aforementioned groups and only cares about pension plans, tax-saving schemes, the Indian cricket team, wider roads and 24/7 electricity supply and decides to blame everything on everyone else.

[ico]

Roads are very very wide in Delhi. Yindans don't know how to drive. Give 4 lakhs to a Yindan and the first thing he will do is buy a car. Give top notch public transport rather.

[Tech&ME]

^^
that's another topic!!

All are in hurry! Lane discipline ki aasi ki taasi !!

Indians take everything for granted, they paid tax to drive that damn car on the road, so they think they have every right to drive it as per their will. Only because they paid the Road Tax

What a mind set mosr of Indian have!!

[Skud]

Originally Posted by MetalheadGautham

India has never been a country for the poor OR for the honest rich actually. I mean the poor are made to suffer and barely get enough opportunities, while the honest rich are milked to feed politicians. So what we end up with is a bunch of voiceless poor, honest rich who never get enough returns proportional to the taxes they pay, bunch of babus who eat the honest rich's money, bunch of rich who prefer illegally hiding their money in swiss bank, and a rather well-voiced middle class which is indifferent to any of the aforementioned groups and only cares about pension plans, tax-saving schemes, the Indian cricket team, wider roads and 24/7 electricity supply and decides to blame everything on everyone else.

Absolutely spot on. I would like to add that one common trait among all classes is the indifference and aloofness. But then, we are brought up like that only and history has taught us it's better to be like that only. Just see what have happened to most of our freedom fighters who didn't become some bl**dy politician or get engaged in active politics after independence. Why needlessly suffer for others? And after working for rural development (and still working) for the past 3 years, I am now damn sure, most of these poor don't deserve a better life. Sometimes really feel they must suffer even more.

Originally Posted by Tech&ME

^^
that's another topic!!

All are in hurry! Lane discipline ki aasi ki taasi !!

Indians take everything for granted, they paid tax to drive that damn car on the road, so they think they have every right to drive it as per their will. Only because they paid the Road Tax

What a mind set mosr of Indian have!!

You said it all. It's not the Govt's fault always for all these black money, scam, corruption etc. We, as a country, lacks discipline and won't mind breaking rules in whichever way we deem fit. The very person who is driving in the wrong lane will also want to pay some bribe to the cop after getting caught. And then in some other forum he might be giving some lectures on corruption and bribery of Indian class, whereas he himself is actually fueling those corruptions etc. It's in our genes and one can do very little about it.

[Tech&ME]

^^

Where there is a will, there is a way!!

But Indians do not have the WILL to change, they do not want to waste their time and sometimes money in disciplining themselves. That is the major issue.

Corruption, etc are secondary issues and this is what we all should look at and understand.

"Education is the manifestation of the perfection already in man"
said by Swami Vivekananda

so, can education really can bring the hidden perfection in Indian out ?

can't answer that, b'coz I have seen educated class of people the most indisciplined at public places.

So, can we all try to find a solution to this problem ?

[Skud]

Education can bring a change, but not "studying for exams and jobs" which we are promoting.

[Tech&ME]

wow!! that is so true.

I never scored better marks during my MCA in college simply b'coz I couldn't mug up the answers given by our lecturers.

There was a guy "Sumit Agarwal" in my class, oh boy!! He was dumb in class and was never ever able to answer a single question, but always scored the highest rank , that was only b'coz he could mug everything up like monkeys!!