I find is comical that the same pro-welfare for corporations are also anti-welfare for individuals.
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Apple Lobbies for Tax Breaks for Manufacturing More Chips in United States
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I find is comical that the same pro-welfare for corporations are also anti-welfare for individuals.
https://www.pbs.org/newshour/econom...s-tax-cuts-boost-hiring-most-companies-say-no
"Eighty-four percent of businesses said they didn’t accelerate hiring because of the 2017 Tax Cuts and Jobs Act, which President Donald Trump hailed as “a bill for the middle class and a bill for jobs.” Only 6 percent said they had more hires because of the law and 10 percent said they accelerated investments, according to the survey....Instead companies put much of the money toward stock buybacks rather than investments. Buybacks hit a record $1 trillion in 2018, a nearly 50 percent increase from the year before."
That's the not the issue. If company x negotiates for a tax break in return for the promise of creating 5,000 jobs in an area, should that company be given the tax break is the question. It's not about across the board tax breaks.
Keeping your own money isn't a handout.
Using someone else's money to fund your whims isn't a virtue.
Hopefully they don’t pull a Foxconn with this. Wisconsin loves their Foxconn plant that does nothing!
Sadly, too many people don't get this. We can have zero jobs and taxes for chip manufacturing now, or we can collect some tax and create jobs. It's a no-brainer.
Apple is seeking tax breaks from the U.S. government for domestic chip production, which suggests Apple may be aiming to move more iPhone manufacturing to the United States.
According to Bloomberg, second and third-quarter lobbying disclosure reports indicate that Apple lobbied officials from the Treasury Department, Congress, and the White House on tax issues that included "tax credits for domestic semiconductor production."
Apple designs many of its own chips, including the A-series chips used in iPhones and iPads and the Apple Silicon chips that will be used in future Macs. Development of chips is done in-house in Cupertino, but production is outsourced to Taiwan Semiconductor Manufacturing Company (TSMC).
Apple's lobbying efforts indicate that it perhaps wants to move production to the U.S., where it would not have to deal with tariffs and trade tensions between the United States and China.
Apple veteran and director of federal government affairs Tim Powderly is leading Apple's lobbying efforts, according to Bloomberg. Apple's prior policy exec, Cynthia Hogan, left the company in May after being selected as one of the members of Joe Biden's vice presidential selection committee.
Most Apple products are made overseas, but the 2013 Mac Pro was manufactured in Austin, Texas. The same Texas plant is also responsible for the final assembly of the new Mac Pro models, and Apple decided to use the plant after being provided with tariff exemptions.
Apple chip partner TSMC in May announced plans to open an advanced chip factory in Arizona, and once that plant is open, it is expected to produce 5-nanometer chips. Apple's most recent A-series devices use A14 chips built on a 5-nanometer process.
Apple in 2018 committed to spending $350 billion to boost the U.S. economy over the course of five years, and has contributed funds to U.S. companies that make iPhone components, including Corning and Finisar.
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Article Link: Apple Lobbies for Tax Breaks for Manufacturing More Chips in United States
This article is stupid.
Has no real information.
But then that is Bloomberg Not So Tech News
Let's also not forget the "2017 Tax Cut" was the "2017 Tax Increase" if you live in a state where you pay high property tax and or high state and local taxes. The 2017 program capped state and local tax deductions at $10k (SALT).
This means if you make about $100K and live in a decent house your federal taxes likely went up.
Also the CARE act eliminated the deduction for unreimbursed work expenses until 2025.
SO if you are working from home during COVID, you cannot claim any write offs that your employer does pay for.
Gotta love the GOP!!! NOT!!!!
Sadly, the more products that are manufactured here will more products that are priced out of reach for a lot of Americans...Plus, more and more manufacturing is changing to automation and not people. I saw a piece on Western Digital hard drives being manufactured and there were no humans touching anything till the very end, putting boxes away.
There is a company in Detroit making jeans....100% made is USA, including the cotton, the weaving of the fabric, etc. Prices are win the $50-$60 per pair. Try and sell that to the people buying jeans in Walmart of $9.99.
Are you not going to pay a salary that people can live on?
We are too spoiled, having everything and low cost and our cost of living is so high that series need to be high. i think most of these manufactured in USA companies would go out of business...sadly. We as a "capitalist" country have moved past the point of being an "industrial" country again.
this is not about hurting people, this is about bringing manufacturing jobs back to the US. And it'll probably be a joint venture with TSMC anyway.
What right wing people do not understand is that tax breaks not being awarded are simply the convenient excuse that corporations use to leave for China and the real reason is lower wages and that fact that they are self centred.
Trump never put the US first, only himself. if he had eve put anyone first then the US would not be the worst in the world for Covid cases and there would not have been over 215,000 dead Americans from Covid.
He would also have put there work in rather than complain that 'Thanks to Covid I now have to go back to work'. Not that he ever did any work but that says it all, that he would rather hundreds of thousands of people die from Covid rather than he be forced to do some work.
I guess he would rather play golf and attend rallies where people all clap and cheer for him before then going home and dying huh!
So no, Trump has never and will never put America first!
In your example tariffs would not help but rather hinder. The companies that get affected by the actions of the CCP subsidising industries should better plan and prepare rather than moan when challenges arise and their respective governments should react better rather then simply throw a fit and say it is unfair.
Mel Gibson was warning about China back when Mad Max came out! That is how far back the warnings were there and how dumb, selfish and incompetent the western governments have been and are.
So yes the CCP have a lot to answer for but stop excusing the west because they are to blame too.
Fox News donating to Trump to ensure that democracy does not happen.
I agree with the general sentiment of your post but I will point out that perhaps the US should first try acting like a democratic country and not like the facist dictatorship of Trumps wet dreams before lecturing countries such as China.
Apple would still be rich and powerful had they not outsourced every job they could to China. They just would not have quite a much wealth but would still have more wealth than most countries do. Apple are just in my view, greedy and arrogant.
Trump simply threw one of his usual temper tantrums and implemented the tariffs that were as effective as his Covid travel ban which is to say not effective at all with over 40,000 Chinese citizens coming to the US during the so called ban.
So err, I think we will all laugh at Trump !
Apple can compete more than well enough they just do not want to do so with their own money and demand that we all pay with subsidies that we pay for!
Actually tax credits tend to not work so your post saying nonsense is err nonsense.
Nonsense, that is as bad as saying that because I do not own an umbrella I am supporting floods occurring and people losing their homes and lives.
Won't eve happen because Cook is downright allergic to spending money and down right greedy and selfish in my view!
No, Apple has more than enough money now to pay for it themselves rather than throw a Trump temper tantrum and demand we all pay for it instead.
Because with toddler Trump in charge there will no longer be a democracy and simply a dictatorship where Trump wil demand that companies like Apple make it worth his while otherwise they have all their money and assets seized by him only then for him to do it anyway.
You may like the sound of that but I am sure that those of us that live in the land of reality are appalled at that thought.
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Easy, by sing THEIR OWN MONEY AND NOT MY MONEY, or do you not understand that tax breaks essentially come from the tax payer which means ME and everyone else!
NO1 It is because the big business will bribe, err I mean donate funds to the politicians and therefore get favours in return, whereas the small business such as a hairdresser can not afford to do so.
Politics 101