Good on Apple's part. Trump has nothing to do with this.
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Apple Plans $350 Billion Boost to U.S. Economy Over 5 Years, 20,000 New Jobs, and a New Campus [Updated]
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This has nothing to do with the tax bill, and they didn't indicate the amount they are repatriating, if any at all.
Tax Havens have always been illegal (there are numerous methods Apple has used with some pretty funny names), but in America our politicians decided to bow to corporate power rather than actually hold it to account....across multiple administrations no less.
Complete and utter lie. Apple was investing billions long before Trump came to power. What the poster you replied to was getting at is Apples success has spanned multiple Presidents/Administrations. In other words, Apple is successful because of Apple, not any particular President. Of course Apple, like any company, will modify their business to take advantage of any changes to laws, but they still stick to their same basic business plan. That has nothing to do with Trump or Obama or any other President.
I think you may be confusing tax avoidance with tax evasion. There are many legal ways to avoid paying tax. You can argue the morality of it all day, but it’s certainly not illegal.
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Apple will be paying 15.5 percent in taxes to repatriate its overseas cash, suggesting the company plans to repatriate approximately $245 billion, or nearly all of its foreign money.
Article Link: Apple Plans $350 Billion Boost to U.S. Economy Over 5 Years, 20,000 New Jobs, and a New Campus
To clarify, the law “deems” all foreign earnings as repatriated, whether or not it is actually brought back in.
Open mind? I don't even care for Trump, but there's simply NO question that the tax reform bill would NOT have happened were it not for Trump's constant pushing. Then there's that little issue about who signs a bill into law. To say that it's not the POTUS's doing is disingenuous at best.
The $350 billion is the sum of all the economic activity in the US due to Apple. Apple is ALREADY on track to make this contribution to the US economy, due to the sheer amount of sales they have.
If Apple sells $70 billion in stuff in the US each year over the next 5 years, that's $350 billion contribution to the US economy.
Nope. The CBO already has decades of stats on how much tax cuts stimulate the economy, and it's always fractions of a dollar in stimulus per dollar spent. Corporate tax cuts are actually statistically weaker for the economy than tax cuts for wealthy individuals. Get ready for loads of stock buybacks, skyrocketing upper level management compensation, and record setting profits (i.e., money that doesn't actually get circulated, i.e., money that won't stimulate anything).
Apple's massive contribution to the US economy is because of the iPhone, which grew under Obama.
Trump might actually cause Apple to slow down Apple's contribution to the US economy.
The repatriation tax would not have occurred. Apple was literally borrowing money to pay dividends in order to avoid repatriating income.
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I wouldn't read that $350B as a direct contribution to the US economy. In other words, they aren't directly injecting $350B into the economy. They are "contributing" $350B to the economy over 5 years. Language is important. That "contribution" will come in many forms: supplier orders, property taxes, creating jobs and then assigning a value each of those new jobs "contributes" to the overall economy, etc. It's not a direct investment on their part. Not that I'm complaining. This is all very good news.
Yeah, open mind. If you were close minded you would fail to recognize the point you are making.
It was a compliment.
Given Apple’s location in liberal Silicon Valley it’s no surprise they aren’t linking it to tax reform explicitly. But you can bet that Tim Cook and Luca Maestri had a very Merry Christmas after the tax bill passed.
He saved the US economy.
Why exactly is the MAGA crowd trying to claim this has anything to do with Trump or the tax bill?
Did you thank Obama for saving the US economy?
I just saw a tweet from a right-leaning news site that said: “Apple to create 20,000 new jobs because of tax reform”.
OK I’m glad tax reform passed but nowhere in Apple’s press release did it say the 20K jobs were a result of the tax bill just passed. In fact tax reform wasnt even mentioned in the press release other than the tax bill that will be due as a result of repatriation. It’s not like Tim Cook or the CFO are out there talking up this tax bill. Most of what Apple announced was probably going to happen regardless. But obviously now is a good time to announce it and get some positive press.
OK I’m glad tax reform passed but nowhere in Apple’s press release did it say the 20K jobs were a result of the tax bill just passed. In fact tax reform wasnt even mentioned in the press release other than the tax bill that will be due as a result of repatriation. It’s not like Tim Cook or the CFO are out there talking up this tax bill. Most of what Apple announced was probably going to happen regardless. But obviously now is a good time to announce it and get some positive press.
Keep telling yourself that!
And Venezuela's economic plight has nothing to do with socialism!
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA you are making my sides hurt man. Where the heck are you living that he saved the economy?
There is no place for good honest discussion on here, grab a pitchfork and join in! Seriously though, it seems like people are so wound up about either loving or hating Trump. I think that that vast majority of people are somewhere in the middle, but those on the fringes are so loud and vocal.
. Really starting to get tired of the Trump is horrible / awesome groups. Does he do good things, sure. . . .and then does some stupid things. But ALL presidents have done good and bad.And they still do, and will continue to do so.
So why do the MAGA people think the tax-bill has anything to do with this?
This is only a $5 billion investment over the next 5 years. They make a lot more profit than that in the US alone, and don't need repatriated cash to cover this.
This has nothing to do with trump and his Make America Hate Again initiative.
Your 401K was only up 37% the last year?
Why didn't it do as well as Obama's first year?
This is good news, and I can see the connection to the tax bill that President Trump signed. In its entirely though I think the tax bill and deregulation in general will be regarded as an overall negative for the middle and working classes.
Once I see a wave of well paying jobs returning to places where the only option for people is to work in a coal mine or Walmart then will I change my mind on Trump's overall economic agenda.
Once I see a wave of well paying jobs returning to places where the only option for people is to work in a coal mine or Walmart then will I change my mind on Trump's overall economic agenda.