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I’m not sure how much of their profit margin Apple would give up. It depends on how much phone sales slow down when prices go up. Is the cell phone market elastic or inelastic?
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The labor is 2.5x more expensive than minimum wage. Do you think Apple will have minimum wage workers doing relatively skilled labor like soldering and assembling electronics? I’ll likely be more in the $15-$20/hour range before even looking at benefits. I don’t know how many person hours go into assembling a phone, but it’s not just a few. That alone would probably add a few hundred to every phone.
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Like you said, the most expensive portion is not the labor, it’s the parts that are mostly sourced from China and Taiwan… which have huge tariffs in the scenario Trump is talking about.
How? By taxing the shit out of the wealthy.
There should be no billionaires. Period. If someone created something so insanely valuable that they actually earned a billion, then awesome for them. They can still have $999 million and be better off than 99.999% of the world. Most people who have over a billion got that money through screwing over people and exploitation. They don’t deserve to have more than a billion. Nobody needs more than a billion, and I can’t think of anyone who has actually earned it.
The next step is targeting the way wealthy people get wealthier. Tax assets instead above some number of millions instead of just income and capitol gains. Change the way corporate officers are paid and how boards of directors are made up of other corporate officers all voting for each other to get higher salaries. I’m not smart enough to come up with a way to attack the profits made by exploiting cheap labor in other markets, but maybe something like a global minimum wage that lifts up workers in other countries while not giving CEOs as much incentive to do it.
Finally, I would go after housing costs. I would ban corporations from owning single family housing and place a HUGE tax on individuals owning more than 3 homes (with moderate taxes on more than 1 home, then a higher tax on the 3rd home, then a ridiculous tax on the 4th). Limiting foreign ownership would also help out.