Kapernick should be protesting for Tim Cook too...
Isn't a sin against human rights for govt to take 52% of a person income in income taxes... (this does not include property taxes, sales taxes and 100 other taxes the govt takes.)
http://www.forbes.com/sites/antoine...-rate-on-his-135-million-payday/#c6d570e5aaa3
Take Cook’s recent award of 1.26 million Apple shares, is based on the company’s stock performance since he became CEO in August 2011. Cook was granted the shares on Aug. 24 due to performance based pay stemming from Apple’s 67% stock surge between 2013 and 2016 (this figure includes over $7 a share in dividends). The rise, fueled by the iPhone, put Apple in the top third of performers on the S&P 500 Index and helped Cook max out his performance-based bonus.
However, the day Cook was awarded his multi-year payday Apple immediately withheld and sold 656,117 of Cook’s shares to cover his tax bill. All told, Apple sold $70.9 million in Cook’s stock at a price of $108.03, equivalent to or 52.1% of Cook’s total $135 million performance award.
Over the following five trading days, Cook sold an additional 603,883 shares, raising $64.5 million to enjoy or devote to philanthropic causes. Why did Apple withhold 52% of Cook’s stock award? Because California, where Apple is headquartered, has the highest top marginal income tax rate in the country.
Presently, workers earning over $400,000.00 a year are taxed at a 39.6% income tax rate. But California, a progressive state, adds a 13.3% charge for earners making over $1 million a year, surpassing and Hawaii and New York as the highest tax state in the nation.
Cook’s $70 million tax bill reflects “California’s ungodly tax rate” says Alan Johnson, head of compensation consultancy Johnson Associates. Most executives would be charged in the mid-to-low 40% range, he says.
Isn't a sin against human rights for govt to take 52% of a person income in income taxes... (this does not include property taxes, sales taxes and 100 other taxes the govt takes.)
http://www.forbes.com/sites/antoine...-rate-on-his-135-million-payday/#c6d570e5aaa3
Take Cook’s recent award of 1.26 million Apple shares, is based on the company’s stock performance since he became CEO in August 2011. Cook was granted the shares on Aug. 24 due to performance based pay stemming from Apple’s 67% stock surge between 2013 and 2016 (this figure includes over $7 a share in dividends). The rise, fueled by the iPhone, put Apple in the top third of performers on the S&P 500 Index and helped Cook max out his performance-based bonus.
However, the day Cook was awarded his multi-year payday Apple immediately withheld and sold 656,117 of Cook’s shares to cover his tax bill. All told, Apple sold $70.9 million in Cook’s stock at a price of $108.03, equivalent to or 52.1% of Cook’s total $135 million performance award.
Over the following five trading days, Cook sold an additional 603,883 shares, raising $64.5 million to enjoy or devote to philanthropic causes. Why did Apple withhold 52% of Cook’s stock award? Because California, where Apple is headquartered, has the highest top marginal income tax rate in the country.
Presently, workers earning over $400,000.00 a year are taxed at a 39.6% income tax rate. But California, a progressive state, adds a 13.3% charge for earners making over $1 million a year, surpassing and Hawaii and New York as the highest tax state in the nation.
Cook’s $70 million tax bill reflects “California’s ungodly tax rate” says Alan Johnson, head of compensation consultancy Johnson Associates. Most executives would be charged in the mid-to-low 40% range, he says.
