From a small (4 employees) to 40,000 founder..Sun Micros pays $500M/yr taxes

Discussion in 'Politics' started by healthmyths, Oct 26, 2012.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    "The people attacking corporations obviously do not understand what is at stake.

    "Sun Microsystems, which I co-founded way back in 1982, began with only four employees.
    It eventually grew into a workforce of more than 40,000, based primarily in the United States.
    That’s a lot of jobs." .

    It is a safe bet that the number would have been even higher if every year Sun had not been taking a significant fraction of its profits and turning it over to the Internal Revenue Service."
    Scott McNealy is the founder and former CEO of Sun Microsystems
    Scott McNealy On Tax Policy

    So this "small " business grew to employing 40,000 people.

    In 2007–2008, Sun posted revenue of $13.8 billion and had $2 billion in cash.

    If according to this statistic: Sun Microsystems $88,000
    (Average Sun Microsystems salaries for job postings nationwide are 27% higher than average salaries for all job postings nationwide.)
    Sun Microsystems Salary | Indeed.com

    With 40,000 employees and an average paid into the Federal Govt. for SS/Medicare o $11,746 per employee a total of $469,840,000 paid every year for Sun employees!

    Using the below source that shows 13.9% of employees' salaries are paid in:
    Social security Employee 4.2% SURPRISE to many people the EMPLOYER ALSO pays social security tax for employee of 6.2%!!!
    Medicare the Employee and the employer both pay 1.45% of the salary.
    Then the EMPLOYER pays the Federal Unemployment taxes which in turn provides in case of unemployment the average $300/week unemployment check!

    PMA - Members Bulletins & Notices Payroll Schedules/Taxes 2012 Payroll Tax Rates and Wage Bases

    So in addition to paying almost $500 million a year in payroll taxes Sun also made dare i say A PROFIT!!! OH how terrible!!!
    In this source: Taxed-To-The-Hilt Businesses
     
  2. Steelplate
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    Steelplate Bluesman

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    and if you vote Republican.....you could be NEXT!
     
  3. healthmyths
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    healthmyths Gold Member Supporting Member

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    So if Sun Micro grew from 4 employees to 40,000 which meant from the 4 employees which Sun and employees paid in $46,984 the first year,
    to when they had 40,000 employees and paid in over $469 million this is a perfect example of what Romney is saying how his 5 point plan works!

    By cutting taxes for corporations these businesses hiring in next 4 years 12 million more people at average of $40,000 salaries payments to Federal government by employees AND EMPLOYERS into the government is over $65 billion more a year!
    Just in payroll taxes!

    Then according to the below study:
    Did you know that for every $1 million spent in the economy as this economic study shows for every 1 million spent in retail there is an economic multiplier of $1.188 million.
    According to this web site:
    • $1.188 million in total economic activity takes place for every $1 million spent..
    • Each $1 million spent provides $205,829 in labor incomes
    • Each $1 million represents 7.7 workers and assuming 35% (payroll taxes, FICA, FUTA, Medicare, SS)
    www2.econ.iastate.edu/research/webpapers/paper_13143.pdf

    12 million more working at $40,000 each adds $570 Billion to the GDP..
    Assuming net profits before taxes on $570 billion is 4% that would be another $6 billion in Federal Tax revenue along with the $65 billion in payroll taxes!
     
  4. Sinjorri
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    Sinjorri Senior Member

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    do we hate success?
     
  5. Steelplate
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    Steelplate Bluesman

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    BTW, you fucking moron...the founder doesn't pay that out of his pocket....in order to be a publicly traded corporation, he pays himself a salary which is taxed separately from the corporation.

    And you said it yourself....all of those horrible taxes....and they made $13.8 billion and have $2 billion in reserve. and we should feel sorry for them......why?
     
  6. Steelplate
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    Steelplate Bluesman

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    Not at all....but I don't feel that successful people are Gods to be worshiped and their egos stroked with gifts of frankincense and myrrh in the form of huge tax breaks, shitty wages for people with families to raise, and vast deregulation so they can be allowed to do whatever they want without consequence.
     
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  7. healthmyths
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    healthmyths Gold Member Supporting Member

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    YOU are the MORON!!
    WHO In the hell said HE PAID????
    YOU obviously DoN"T understand payroll taxes do you????

    YOU are part of the ignorant masses that DoN"T know that businesses MUST pay MORE in their Social security payments for their employees 6.2% versus employee 4.2%!
    You never knew did you that your employer pays more of your salary to Social Security did you? You also were a dumb f...k when it comes to understanding your employer
    also pays for your MEDICARE!!!!
    DUMB f...k do you understand how totally stupid also your "pays himself a salary taxes separately" comment is?

    IF a public traded company EVER DID that i.e. paid a salary to a separate corporation owned by the CEO that would be FRAUD and a FeLONY!!

    AND you dumb f...k who ever said he paid "out of his pocket"????
    YOU are so f...king stupid about how corporations work that this is how poorly educated people like you are!

    A) The guy formed a corporation that hired 4 people at the beginning and the corporation grew to 40,000! Dumb f...k!
    B) Every year the corporation hired more employees the bigger the payroll taxes grew! DUH!!!
    C) Based on the research I did which you evidently are too stupid to comprehend Sun pays average $88,000 meaning Sun pays $469 million in payroll taxes every year!

    SO you dumb moronic as....hole! Understand the fundamentals of corporate tax accounting before you show your obviously vacuous thin brain!
     
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  8. Steelplate
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    Steelplate Bluesman

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    Read your own thread title.....why did you use the word "founder" in it?

    and what in the fuck are you talking about "a separate corporation"? I'm talking about the difference between personal tax....which the FOUNDER pays.....and corporate tax....which the corporation pays. It doesn't come out of the same kitty.

    in essence, that corporation is not yours alone anymore.
     
  9. SniperFire
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    SniperFire Senior Member

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    Why did you trot out a pathetic strawman argument?
     
  10. healthmyths
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    healthmyths Gold Member Supporting Member

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    AGAIN... you are so f...king STUPID!

    AND I"M TalKING ABOUT PAYROLL TAXES DUMB F...k!

    I'm going to keep this very very simple for you since are obviously SO DENSE!!!!
    A) Payroll TAXES are Social Security and Medicare payments made by the EMPLOYER in two forms:
    1) EMPLOYEE HAS DEDUCTED from check for an average Sun employee's salary of $80,000
    Social security tax is 4.2% or $3,360 again deducted from employee's check!
    Medicare tax is 1.45% or $1,160 deducted.
    2) THE EMPLOYER .. this case Sun adds to the employee's payments these amounts:
    Social Security tax is 6.2% or $4,960 PAID by employer!!!
    Medicare is 1.45% or $1,160 paid by employer!

    So for each employee Sun adds on behalf of the employee out of Sun's expenses... $6,120 the employee pays $4,520 or total of $10,6540 on behalf of employee!
    40,000 employed means over $400 million a year in taxes!
    AGAIN idiot NOT corporate taxes! NOT personal TAXES! PAYROLL TAXES!!

    NOW do you understand the DISTINCTION????
     

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