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To: Maurice Winn who wrote (7643)	8/23/2001 4:22:32 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 74559

hi Maurice Winn, QUALCOMM pays employees [thousands of them] US salaries and those employees pay about a third of that money to the US tax collectors... Their revenue is about $4bn and since most employees are Americans, and the money doesn't go towards buying ships of crude oil from OPEC for example, it goes in salaries. I guess about $2bn of that $4bn goes into USS Enterprise taxation coffers let's see, you are saying the company has 4BB revenues, but it pays out so much money that its employees pay 2BB to the US govt, and you also say the employees pay about a third of their salaries to the US govt, so if they pay 2BB, then they must make 3X2BB = 6 billion...so by your logic, QCOM pays its employees 2 billion more than its entire revenues. this is absurd as i'm sure you realize. also, i think overly liberal reliance on the "multiplier effect" leads to logical absurdities. in the extreme case, you could probably say that 1 dollar of taxes paid raises 10 dollars of more taxes. but you could say the same for each of those other 10 dollars. this becomes absurd, because obviously the aggregate taxes paid cannot be a multiplier on itself. and Maurice Winn, let's not forget that what matters is not QCOM alone, but rather the income effect of all participants in the cdma value chain (and more broadly, throughout IT). as i mentioned before, the main north american backers are big-time moneylosers.