Apple Plans $350 Billion Boost to U.S. Economy Over 5 Years, 20,000 New Jobs, and a New Campus [Updated]

[thadoggfather]

If you want to give credit to Trump for this, then will you also blame him when ten million people lose their health care because of the recently passed tax bill? Or will that be Obama's fault? Hillary's? "The Dems"?

You’re living in a hysterical hypothetical world handed you to by the media. Take a walk, breath calmly. Reflect. Relax.

I don’t blame the president for hypotheticals. And I applaud the mandate being repealed. Absurd to incur a penalty when you already don’t have health care. To pay for others who don’t have health care? No thanks. Obama can keep that as part of his legacy.

Hillary is a lunatic get over it

Why are “the Dems” in quotes?

 

[mac_in_tosh]

Every tax cut in the last 50 years has resulted in more money coming in to the treasury.

Not according to my sources. More money came in but it did not make up for the decrease in tax revenue i.e. a net loss.

 

[69650]

REEEEEEEEE

Donald trump was supposed to ruin this country !!!

MAGA

He’s still got 3 years left.

 

[samiwas]

Are people so stupid to not take what the CEO of the company said even though he despises Trump?

What did Cook say? Oh yeah, that they are bringing money in from overseas, apparently. The rest of the expansion is not because of a tax break passed less than a month ago. DOn't be so delusional.

You’re living in a hysterical hypothetical world handed you to by the media. Take a walk, breath calmly. Reflect. Relax.

I don’t blame the president for hypotheticals. And I applaud the mandate being repealed. Absurd to incur a penalty when you already don’t have health care. To pay for others who don’t have health care? No thanks. Obama can keep that as part of his legacy.

The only way for a healthcare system to function efficiently is for everyone to pitch in. If everyone is not paying in, then costs only rise. It's absurd to think otherwise.

 

[mac_in_tosh]

You’re living in a hysterical hypothetical world handed you to by the media. Take a walk, breath calmly. Reflect. Relax.

I don’t blame the president for hypotheticals. And I applaud the mandate being repealed. Absurd to incur a penalty when you already don’t have health care. To pay for others who don’t have health care? No thanks. Obama can keep that as part of his legacy.

Hillary is a lunatic get over it

Why are “the Dems” in quotes?

"The Dems" is how Trump refers to them.

Was not the presumed rapid growth due to tax cuts a hypothetical?

And you should reflect, since when people without health care get seriously ill or have an accident, it is precisely others who pay for it. That's why a conservative think tank came up with the idea of the mandate.

Hillary is a lunatic but the lazy, ignorant, pathological liar Trump is a great president? I get it.

 

[thadoggfather]

"The Dems" is how Trump refers to them.

Was not the presumed rapid growth due to tax cuts a hypothetical?

And you should reflect, since when people without health care get seriously ill or have an accident, it is precisely others who pay for it. That's why a conservative think tank came up with the idea of the mandate.

Hillary is a lunatic but the lazy, ignorant, pathological liar Trump is a great president? I get it.

Your use of “when” in this post and previous, means it hasn’t happened. Means it’s a hypothetical you have created. You’re upset over hypotheticals. That’s how petty arguments have devolved to.

Hillary is a lunatic. You genuinely don’t think so? And you’re upset she’s sitting around making money from her toxic book blaming everyone but herself, instead of being president? Poor Hillary. Gimme a break
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What did Cook say? Oh yeah, that they are bringing money in from overseas, apparently. The rest of the expansion is not because of a tax break passed less than a month ago. DOn't be so delusional.



The only way for a healthcare system to function efficiently is for everyone to pitch in. If everyone is not paying in, then costs only rise. It's absurd to think otherwise.

What’s delusional? Did you watch the abc interview where she asks would this possible without policy changes and he says no?


You make things up. I’m gonna stop replying to thoughtless replies to my posts.

https://9to5mac.com/2018/01/17/tim-...wont-get-cheaper-with-apples-u-s-investments/

How triggering is 9to5’s headline title?

You guys live in an alternate reality and who am I to disrupt that? Carry on

 

[mikef07]

What did Cook say? Oh yeah, that they are bringing money in from overseas, apparently. The rest of the expansion is not because of a tax break passed less than a month ago. DOn't be so delusional.



The only way for a healthcare system to function efficiently is for everyone to pitch in. If everyone is not paying in, then costs only rise. It's absurd to think otherwise.

What did Cook say?

Reporter asks - "Without these policy changes would you be able to announce the creation of 20,000 jobs?" First words out of his mouth are "No"

Next time do just maybe 5 minutes of actual due diligence?

 

[samiwas]

What’s delusional? Did you watch the abc interview where she asks would this possible without policy changes and he says no?

You make things up. I’m gonna stop replying to thoughtless replies to my posts.

Need a safe space?

How triggering is 9to5’s headline title?

You guys live in an alternate reality and who am I to disrupt that? Carry on

Yeah...we're the ones in an alternate realities.

 

[thadoggfather]

Need a safe space?



Yeah...we're the ones in an alternate realities.

These aren’t arguments. That’s why it’s run it’s course on me replying to stuff like this. I’m preaching to the wind.

If people like you said you know what you’re right they aren’t I just feel like venting, then I’d say fine. But you genuinely think that’s a good counter argument of a post right there

Just like if you said you know what reality does suck and crawling out of fantasy land is painful so I simply ain’t doing it. I could respect that on some level too

But you think your fantasy land is some concrete truth tho- void of fact, and completely blinded and solidified by party lines and media narratives. And you
Aren’t unique in this regard. It’s sad. Genuinely sad. Not sure how else to describe it.

 

[samiwas]

What did Cook say?

Reporter asks - "Without these policy changes would you be able to announce the creation of 20,000 jobs?" First words out of his mouth are "No"

So, they really did plan a massive expansion in three weeks. That's incredible.

Next time do just maybe 5 minutes of actual due diligence?

The irony is so rich here, I don't even know where to begin.

 

[mikef07]

So, they really did plan a massive expansion in three weeks. That's incredible.



The irony is so rich here, I don't even know where to begin.

What did Cook say?

Reporter asks - "Without these policy changes would you be able to announce the creation of 20,000 jobs?" First words out of his mouth are "No"

That is from a man who despises Trump.

 

[samiwas]

What did Cook say?

Reporter asks - "Without these policy changes would you be able to announce the creation of 20,000 jobs?" First words out of his mouth are "No"

That is from a man who despises Trump.

...followed by "let me be clear...there are large parts of this that were because of tax reform, and there were large parts of this that we would have done anyway." Maybe "We brought back money from overseas to buy back stock shares because of the tax break, but we were going to build this new office and create the 20,000 jobs anyway." None of us, including yourself, have any idea what was already planned and what is the result of this tax bill. The second part where he compares corporate and individual results had an obvious edit in it...wonder what the other part was?

BUT...no one can call this tax bill a success until we see the actual results. If it creates tons of good-paying jobs and reduces the deficit greatly, then I will absolutely call it a success. If we keep up the same normal/mediocre job growth of the past few quarters and substantially raise the debt to pay for these tax cuts, I will absolutely call it a failure. Even if we do gain jobs, but substantially raise the debt, it's somewhat of a failure. But, we all know that at that point, debts and deficits won't matter as long as it's under Republican watch.

 

[mikef07]

So keeping the tax rates high (like under Obama) and adding more debt in Obama’s 8 years than all of the other presidents combined was a better way to do things?

The facts are he flat out said no these jobs would not have been created if not for the policy change.

 

[Solomani]

The bonus to employees is a nice start.

But Trump deserves zero credit for this. Apple already accumulated all that money thanks to its economic success during Obama's years.

 

[Defthand]

If the tax bill wasn't passed, they would have most likely have just shifted the money to a different tax haven.

True. But those havens are becoming scarcer or less discreet.

Here’s an interesting detail... the actually monies were/are likely in the U.S. all along, where they are safer from potential economic or political catastrophes. Probably in a bank in New York. The shells are just entities on paper.

 

[mikef07]

The bonus to employees is a nice start.

But Trump deserves zero credit for this. Apple already accumulated all that money thanks to its economic success during Obama's years.

You fail to understand basic economic principles if you think the current policy has nothing to do with this.

 

[Makayla]

Why am I not surprised a positive thread descended into in-fights?

Oh well, at least the mods had the foresight to put it in prsi.

 

[mac_in_tosh]

Your use of “when” in this post and previous, means it hasn’t happened. Means it’s a hypothetical you have created. You’re upset over hypotheticals. That’s how petty arguments have devolved to.

Hillary is a lunatic. You genuinely don’t think so? And you’re upset she’s sitting around making money from her toxic book blaming everyone but herself, instead of being president? Poor Hillary. Gimme a break

It's not hypothetical that people get sick or get in accidents. Statistically, it's very predictable given the large sample size in the U.S. population. When it happens to people who choose not to get insurance, in effect others are paying for them in the form of higher insurance premiums to cover these cases. I thought you were against paying for others.

I've heard a lot of negative things about Hillary during Trump's smear campaign (she's crooked, she's sick, etc.) but to my knowledge even he never called her a lunatic.

When did I say I was upset that she's making money from her book blaming everyone but herself? Maybe you meant to write "you're not upset." She did in fact accept some of the blame, so what you write is not accurate. I assume you didn't actually read the book but just got the Fox News summary. But speaking of accepting blame, Trump never takes responsibility or accepts blame for anything. It's always "the Dems," the "fake news," the rigged polls, the rigged Emmys, etc. I guess you're not upset by that.

 

[Carnegie]

So keeping the tax rates high (like under Obama) and adding more debt in Obama’s 8 years than all of the other presidents combined was a better way to do things?

The facts are he flat out said no these jobs would not have been created if not for the policy change.

I'm generally a fan of the changes that were made to our corporate tax policies. I think they screwed up in some regards, and didn't deliver on some things, but I think what they did was better than not having done anything. I've long advocated for dramatically reducing our corporate tax rate (check, though I'd have liked to see it reduced further), moving to a territorial taxation system (check, kinda), and allowing as-yet unremitted foreign earnings to be repatriated at a dramatically reduced rate (check, kinda).

That said, the 20,000 (Apple) jobs created comes from only a small piece of the $350 billion plus contribution referred to in Apple's announcement today. Most of that contribution is a continuation of what Apple's been doing. (I'm happy to dive further into the numbers if you'd like.)

And regarding those 20,000 created jobs, how many would you guess would have been created over the next five years without the changes in our corporate tax policies? I've little doubt that the tax policy changes will have some effect on what Apple does - in terms of, e.g., capital expenditures and job creation - in the United States. But for comparison, according to other information we've gotten from Apple it added something like 40,000 jobs in the U.S. between 2010 and 2016.

 

[LizKat]

I’m sure there’s a cloud in every sky.

1. That’s an illusion. If the power company lowers your rates, how is that paid for? Every tax cut in the last 50 years wound up raising more revenue. It’s the spending side that needs to be curbed.
2. It is coming.
3. No mandate. Freedom to say “no” is an essential freedom.
4. That sound is money coming back home to yes, jack up share values by adding value to build new stuff.

The forecast here is for a cold but sunny day. All the better to peer at legislative vaporware.

1. If the spending side needs to be curbed, let the party of tax cuts do the curbing at the time they cut the damn tax, not kick it down road ten years and try to float it on "trickle down" benefits. Take responsibility for the disinvestment in government agency that will inevitably result from the cut.

2. There will be no infrastructure bill if it's all about privatizing bridges and roads as the GOP prefers.

3. Killing the ACA mandate was not in itself a proper fix, and every insurer and responsible professional organization in the country said so.

4. The sound of share buybacks is not the sound of building new stuff. It's the sound of the rich getting richer and the sound of oligarchies consolidating ownership.

 

[mikef07]

I'm generally a fan of the changes that were made to our corporate tax policies. I think they screwed up in some regards, and didn't deliver on some things, but I think what they did was better than not having done anything. I've long advocated for dramatically reducing our corporate tax rate (check, though I'd have liked to see it reduced further), moving to a territorial taxation system (check, kinda), and allowing as-yet unremitted foreign earnings to be repatriated at a dramatically reduced rate (check, kinda).

That said, the 20,000 (Apple) jobs created comes from only a small piece of the $350 billion plus contribution referred to in Apple's announcement today. Most of that contribution is a continuation of what Apple's been doing. (I'm happy to dive further into the numbers if you'd like.)

And regarding those 20,000 created jobs, how many would you guess would have been created over the next five years without the changes in our corporate tax policies? I've little doubt that the tax policy changes will have some effect on what Apple does - in terms of, e.g., capital expenditures and job creation - in the United States. But for comparison, according to other information we've gotten from Apple it added something like 40,000 jobs in the U.S. between 2010 and 2016.

I'd be lying if I said I had concrete answers to your questions. Would it have been 0 jobs without the policy change and 20,000 jobs because of the policy change? Probably not. What I do know is Tim Cook (who despises Trump) said without policy change 20,000 jobs would not have been added. So the number is between 0 and 19,999. How many I do not know. What came prior is irrelevant. What is relevant is that a policy change allowed Apple to put forth more jobs than they would have without that policy change. It also allowed money to come into the US and go straight into the US Treasury. Because that money is a small % of the actual money being brought in by Apple it is safe to assume that Apple will use that money that is now on US soil (so to speak) to either pay dividends, buy back stock (thus reducing shares), increase business operations, pay bonuses without it affecting dipping into other areas, etc. Likely some or all of the above and a myriad of other things.

In my perfect world taxes would be lower (like they are now) and we would operate at a surplus. he next best thing would be to have Obama administration tax rates and operate at a surplus, but what we had over the last 8 years were extremely high tax rates and the biggest failure by a President to curb spending in the history of the US. Since both Dems and Repubs have proven they can't manage a lemonade stand when it comes to finances I would rather have lower tax rates and let the actual tax payers keep more of their own money. The second Congress wants to pass a balanced budget amendment and raise taxes I am all for it to get rid of the debt. That will never happen in my lifetime though.

 

[Carnegie]

True. But those havens are becoming scarcer or less discreet.

Here’s an interesting detail... the actually monies were/are likely in the U.S. all along, where they are safer from potential economic or political catastrophes. Probably in a bank in New York. The shells are just entities on paper.

Most of Apple's (so-called) cash holdings - more than $150 billion worth - is in corporate securities, so lent to other companies. Another large portion - more than $50 billion worth - is in U.S. Treasuries, so lent to the U.S. government. Smaller portions are in other kinds of instruments, e.g. mortgage-backed securities.

So, yeah, a lot of Apple's foreign cash is held in U.S.-based instruments and already, effectively, at work in the U.S. economy. It not yet being repatriated just means that the foreign subsidiaries haven't distributed it to the parent domestic company. Those foreign subsidiaries can still do a wide range of things with that cash.

 

[the8thark]

We can all thank everyone who worked hard on these tax cuts for this. Of cause Mr "Trump hating hardline Democrat" Cook will never give the tax cuts their proper credit for this. A republican govern government getting hardline Democrat Tim Cook to act. That's amazing in itself. It's easy to get your supporters to act positively to help the nation. However it's so much harder to get people who really hate you, to positively help the nation.

More jobs are being created.
The overall US stock market is booming.
Apple's indicidual stock price is really high.
Apple is finally considering to move it's cash back to the US - well a portion of it.

All happening right now because the government put into place measures and policies that made this possible.

It’s the average person making 40k a year that is in big trouble in the long run.

Who fed you that lie? The average worker in the US accross many companies are seeing wage and bonus increases now. That's those already employed. And many who are not employed are getting jobs now.
The number is supposedly 2 million US workers getting an increased wage or better bonus.

All of the above is possible due to the tax cuts and other measures this US government have introduced. Tim Cook will never admit it and Tim Cook will try to to get Apple to take all the credit for this. However the evidence is there.

 

[Defthand]

Most of Apple's (so-called) cash holdings - more than $150 billion worth - is in corporate securities, so lent to other companies. Another large portion - more than $50 billion worth - is in U.S. Treasuries, so lent to the U.S. government. Smaller portions are in other kinds of instruments, e.g. mortgage-backed securities.

So, yeah, a lot of Apple's foreign cash is held in U.S.-based instruments and already, effectively, at work in the U.S. economy. It not yet being repatriated just means that the foreign subsidiaries haven't distributed it to the parent domestic company. Those foreign subsidiaries can still do a wide range of things with that cash.

You would have made my day if you had ended with “I should know. I work in the accounting department, but you didn’t hear it from me.”

 

[the8thark]

But Trump deserves zero credit for this. Apple already accumulated all that money thanks to its economic success during Obama's years.

Do you really understand what has happened here? Accumulating the money is not what Trump achieved here. Apple earned that itself as you correctly pointed out. The big win here is getting Apple to move a large amount of it's cash hoard back into the US. Apple always said they wanted to move the money back if the conditions were favorable to Apple. Trump and/or his Republican team and advisors created the positive business atmosphere to allow Apple to do this.

Also Apple's success initially can be traced back to the 2nd coming of Steve Jobs. Obama had nothing to do with it. Lets stick to the facts ok?
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Uhhh...source?

When taxes were cut in the mid 60s, revenue plateaued. When taxes were cut in the early 80s, government revenue dropped for a few years before climbing again at about the same rate it was previously. When taxes were cut again in the mid 80s revenue did not increase in any measurable rate. When taxes were raised a little in the mid 90s, the rate of revenue increased somewhat. Tax cuts in early 2000s don't seem to have done much...hard to say since they were during a period of large revenue drop post 9/11, with revenue starting to increase again a few years later much like it was previously. Revenue increased substantially throughout Obama's tenure, even though we were being "taxed to death".

Revenue is not the best statistic to be quoting. Profits would be better to use. Revenue doesn't take into account expenditure, debts and other such things. You can make all the revenue in the world, but if your debts and expenditures and other such spendings are equally as high, you will never make a profit.