I don’t think anyone can argue against this. More jobs are a good thing, and repatriating that much money is obviously a great thing. Even opening a new campus is a positive, especially if they are going to build it from scratch.
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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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What if someone hacked into your bank account, stole every dollar of your savings, and then handed out all of it in one thousand dollar increments to homeless people. That sure would be a good thing for those homeless people, right?
The point I'm making is that because something awful helps some people doesn't necessarily make it a good thing that should happen. This tax bill is most definitely going to help some people, the problem is at what cost.
So was ending net neutrality. So far no one has died as a result.
Also, the net neutrality problem is not going to be something that smacks everyone over the head the moment the rules change. These ISPs aren't that stupid. The changes will come slowly at first, but a decade later things will be very different from how they are today.
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I don't know, maybe because my damn 401K was up 37% last year - And it all started the night new POTUS was elected.
Anti-Trumpers are the new 'Flat-Earthers'[/QUOTE]
How is this possible? I heard if Trump was elected the worlds financial market was going to collapse. Wait....I just checked and my 401k, Roth and Profit Sharing are all up.
Offices cost money, factories cost money, supplies cost money, manufacturing cost money, taxes cost money, training cost money.....jobs are generally more than 1 year in duration, ect.
Not to mention that of course 100% of that money isn't going to salaries. Suppliers in America, ect.
Then again #JustDemocartMath
They oughta build a building directly across from Google in Bakery Square (in Pittsburgh's East Liberty neighborhood). Make it just one story taller, and angle the solar panels so they reflect directly into the Google office windows.
Must be nice, I always had to go forth search out and find my own jobs.
Have to admit that in over 50+ years I was never without a job either.
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How much of this is due to Apple losing essentially tax-exempt status in Ireland and the EU? Apple wouldn’t just voluntarily pay a lot more than it has before would it? That’s not exactly in the best interest of shareholders. If so, why didn’t they do it earlier? Methinks they decided they’d either rather pay the US than the EU or (more likely) the US has offered to charge a lower rate on repatriation than the EU was going to take in back-taxes. So I’d say it has more to do with what the EU are doing than with anything Trump has said or done.
A lot of people seem to be happy to rush to a gushing level of praise for Apple, but I advise caution. Especially given Apple’s history of extreme tax minimisation that they’ve openly defended. There’s a lot more to this than meets the eye, or a lot less benefit is what I’m saying. I’m not denying there’s some good news, but these sort of announcements are extremely political and you have to examine the figures and use of language very carefully before you can even begin to gain much of an insight.
I still challenge Apple’s insistence that they’re reaponsible for the third-party “App Store economy” and can therefore claim the jobs it creates and taxes that it generates as their own. No Apple, that belongs to the hard-working developers and software companies, don’t mix that in with your figures to inflate them to such a degree! Any respected financial analyst or regulator would pull them up on it, and Apple wouldn’t claim such things officially, but this is a political media release. Please, can the media do their job in examining such absurd claims!
I’m also concerned how a Trump administration would spend, or how easily it could squander, amounts like $38 billion. Will it go to better or universal health care for the millions of uninsured Americans - the so called “bigger, better” system Trump promised in place of ObamaCare? I’m pretty sure the military could squander it easily enough. Then again, it’s nothing compared to US sovereign debt. Whatever happened to the debt ceiling crisis? Were they politically-engineered crises for a Democratic president only? And that $38 billion is a one-off bonus - what are the real annual increases in local expenditure and tax that they’re promising? No not the App Store developers, just Apple?
There’s some good news here, especially for those who can benefit directly, but I’m a little concerned it won’t go to areas that need it the most - like, say, most of Trump’s voter base in the poorer States. I’m pretty sure other countries are going to feel a bit pissed off now as well, since much of the income was earnt outside the US. But I’m hopeful it’ll spawn greater action from those countries, because increasing concentration of wealth has to stop. It’s getting absurd.
Corporations like Apple are on notice globally. It’s an increasing political issue here in Australia too, where Apple has been paying low single-digit rates of tax (as in many other countries) for years and almost zero tax locally in 2016. We’re expecting a change of government next year, or possibly even this, to one that will hopefully pursue a fairer and more just system in that regards. Apple, be warned!
A lot of people seem to be happy to rush to a gushing level of praise for Apple, but I advise caution. Especially given Apple’s history of extreme tax minimisation that they’ve openly defended. There’s a lot more to this than meets the eye, or a lot less benefit is what I’m saying. I’m not denying there’s some good news, but these sort of announcements are extremely political and you have to examine the figures and use of language very carefully before you can even begin to gain much of an insight.
I still challenge Apple’s insistence that they’re reaponsible for the third-party “App Store economy” and can therefore claim the jobs it creates and taxes that it generates as their own. No Apple, that belongs to the hard-working developers and software companies, don’t mix that in with your figures to inflate them to such a degree! Any respected financial analyst or regulator would pull them up on it, and Apple wouldn’t claim such things officially, but this is a political media release. Please, can the media do their job in examining such absurd claims!
I’m also concerned how a Trump administration would spend, or how easily it could squander, amounts like $38 billion. Will it go to better or universal health care for the millions of uninsured Americans - the so called “bigger, better” system Trump promised in place of ObamaCare? I’m pretty sure the military could squander it easily enough. Then again, it’s nothing compared to US sovereign debt. Whatever happened to the debt ceiling crisis? Were they politically-engineered crises for a Democratic president only? And that $38 billion is a one-off bonus - what are the real annual increases in local expenditure and tax that they’re promising? No not the App Store developers, just Apple?
There’s some good news here, especially for those who can benefit directly, but I’m a little concerned it won’t go to areas that need it the most - like, say, most of Trump’s voter base in the poorer States. I’m pretty sure other countries are going to feel a bit pissed off now as well, since much of the income was earnt outside the US. But I’m hopeful it’ll spawn greater action from those countries, because increasing concentration of wealth has to stop. It’s getting absurd.
Corporations like Apple are on notice globally. It’s an increasing political issue here in Australia too, where Apple has been paying low single-digit rates of tax (as in many other countries) for years and almost zero tax locally in 2016. We’re expecting a change of government next year, or possibly even this, to one that will hopefully pursue a fairer and more just system in that regards. Apple, be warned!
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Hopefully a number of those jobs will be in software quality assurance....
How is this possible? I heard if Trump was elected the worlds financial market was going to collapse. Wait....I just checked and my 401k, Roth and Profit Sharing are all up.[/QUOTE]
Let me clear some things up for you that you may or may not understand.
The DJIA isn't an indicator of the overall economy.
over 50% of Americans have ZERO money invested in the stock market (mutual funds, 401K, etc)
So yes.... like you, I'm happy my 401K is doing well. Hopefully it's not going to see a major correction any time soon. However, I don't look at my 401K and believe that since it is doing well, this country is doing well.
Correct, hence the cratering wages, high income inequality, and high unemployment under Obama as President despite theDJIA increasing.
And under Trump these other indicators are starting to reverse, especially in minority communities.
Thank you. I logged in just to like this post. And now I’ve realized that this thread provides a nice tidy list of people to put on my ignore list.
I'll agree with this. Western countries are borrowing themselves into oblivion to fund ever more expensive entitlement programs and it is the Asian countries, particularly China, that are bankrolling it. You also have what is basically a massive multi-trillion IOU for future Social Security and Medicare benefits that will not be fundable from the current scheme of FICA and Medicare tax assessments.
The extreme low interest rates of the past decade have masked the issue by artificially keeping interest payments low as debt is constantly refinanced. As interest rates inevitably rise the required interest payments will rise substantially with no way to pay for them other than to issue more debt. It is a death spiral I don't see any way out of, and this tax plan actually causes the problem to get worse as the debt is expected to grow an additional 1 trillion dollars because of the revenue cuts.
There is going to be a great amount of pain as the situation unwinds. I don't know when it will happen but eventually our debts will have to be paid and it is going to take a massive tax increase to cover both the debt payment as well as continue with the promised services previously funded with that increasing debt. Mitt Romney screwed himself with the 47% comment but he was right, you can't run a country where half the citizens are taking more out than they are contributing.
We are allowing ourselves to get in a situation where other countries will have the ability to wreck us economically if we don't do as they say. Not a good position to be in.
Well if they repatriate assets that just might happen.And now we’ll get comments after comment about how if only Apple would pay it’s fair share of taxes.
If it was a Hillary or Obama rally the attitudes would be far different. Just saying.
No, it will only increase taxes for middle-class and lower-income families, increase pollution through deregulation and take away health care from tens of millions of people while raising costs for millions more.
Most of that $350 billion comes from "Apple’s current pace of spending with domestic suppliers and manufacturers."
The rest comes from a new $38 billion tax bill, $30 billion in planned capital expenditures, and $5 billion for its Advanced Manufacturing Fund.
To put the 20,000 new jobs in perspective, Apple has added, on average, nearly 9,000 full-time equivalent employees per year over the last 3 years. I don't know how many of those would have been in the U.S., but as of its last reporting it had 123,000 total full-time equivalent employees and in its announcement today it indicated that it has 84,000 employees in 50 states. So, something like 2/3rds of its employees are in the U.S., maybe less because we're comparing different measures (i.e. full-time equivalent employees versus employees) and different times.