Obama to Take Bite Out of Apple?


Apple Computers posted record profits last year, according to finanicals released by the computer company recently.  Apple attributes this phenomenon to the popularity of the IPhone (my family has three).  Will Apple join the evil axis of the oil and pharmaceutical companies and become targeted by the Obama administration for being greedy? 

First off, the profits were $1.05 billion for the last quarter of 2009.  This doesn’t come close to the profits seen by oil companies and the pharmaceutical industry.  So the scale of profits is much smaller.  Secondly, Apple doesn’t depend on Iran or Venezuela for the raw materials to provide its product.  Apple will sell all it can, regardless of what the price of crude oil is.  The wild market fluctuations of crude have made life a little more difficult for the oil companies.  Apple’s profit margin remains relatively constant, while the oil companies don’t know what will happen with crude, and the pharmaceutical industry isn’t sure about what will happen with the healthcare industry. 

Granted,  you don’t need an IPhone to get to work like you need gas.  Apple also doesn’t have the government telling them where they can get their raw materials.  It’s not really a fair comparison.  But it is worth considering:  if Apple is making record profits, it can’t possibly be because they provide a product that is superior to their competition, can it?  The Macintosh line of computers’ cheapest model runs around $1000.  Macintosh still saw sales increase 51 percent unit sales growth, and a 54 percent revenue growth over the same quarter last year.  Apple users rave about the computers, and many say they will never go back to a PC.  In tough economic times, these numbers are pretty impressive, if you consider that cell phones and computers are luxury items. 

According to the Obama rhetoric, this kind of performance means that the Apple board of directors and their share holders are a bunch of greedy jerks.  They should be punished!  If their CEO gets a big bonus, tax 90% of it!  People are hurting in America!  It’s not “fair” for some people to get money while others are hurting!  Share the wealth!  Everybody does better, you know, when you spread the wealth around. 

I know the difference with the banks is that the taxpayers bailed them out.  Most of these banks have paid back the loans from the government with interest.  Some banks have turned large profits in the last year.  But, Obama castigates these people when the CEOs, who guided the banks from an entity that needed rescue to one that made money.  No bonuses!  You took money, and must pay a “fee” to the government because they had to spend money to clean up the mess the “banking industry” as a whole made.  Even banks that didn’t take taxpayer money will be subjected to these “fees,”  which are nothing more than government extortion. 

Clearly, Apple computer company has made “obscene” profits and must be punished.  That’s the Obama administration’s MO.  Punish companies that make money.   Rescue companies that don’t, and probably won’t, make money. 

I hope you all understand that this is sarcasm.  Of course Apple made money.  They make good computers and the IPhone is wildly popular.  The IPod is the industry standard for MP3 players.  I am glad a company started by an American is doing well.  It seems to be one of the few that is. 

But don’t worry, lefties.  I’m sure President Obama will figure out a way to confiscate some of their money.  It’s the Chicago way.

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