2018 surplus of $45 billion, with a B.
September 19, 2018 9:34 AM Subscribe
“Apple’s revenues come from purchases made by consumers across the entire wealth distribution, but the moment that money hits Apple’s ledger it comes under the control of the elite: most shares of Apple, like most shares of stock in general, are owned by the wealthy. While stock markets have reached record highs in recent years, fewer Americans own stock than ever before, with the top 10 percent of the wealthiest households owning 84 percent of all stock in 2016. (According to economist Edward Wolff, this is up from 77 percent in 2001.) The bottom 80 percent of households, by contrast, own just 7 percent of stocks. The preponderance of Apple’s income is transferred to shareholders, who largely fall into the upper echelon of the economy. - Apple redistributes more wealth upward than any corporation or country on the planet.“ Think Different ( Boston Review)
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