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posted by martyb on Friday January 19 2018, @02:48AM   Printer-friendly
from the a-billion-here-and-a-billion-there...-now-you're-starting-to-talk-about-real-money dept.

Apple invests $350 billion (with a "B") in USA over next 5 years

https://www.apple.com/newsroom/2018/01/apple-accelerates-us-investment-and-job-creation/:

Apple today announced a new set of investments to build on its commitment to support the American economy and its workforce, concentrated in three areas where Apple has had the greatest impact on job creation: direct employment by Apple, spending and investment with Apple's domestic suppliers and manufacturers, and fueling the fast-growing app economy which Apple created with iPhone and the App Store. Apple is already responsible for creating and supporting over 2 million jobs across the United States and expects to generate even more jobs as a result of the initiatives being announced today.

Combining new investments and Apple's current pace of spending with domestic suppliers and manufacturers — an estimated $55 billion for 2018 — Apple's direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple's ongoing tax payments, the tax revenues generated from employees' wages and the sale of Apple products.

[...] "Apple, already the largest US taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made."

Using the new 15.5 percent repatriation tax rate, the $38 billion tax payment disclosed by Apple means they are doing a $245 billion repatriation. Apple had $252.3 billion in overseas cash as of the end of September quarter, according to SEC filings so that means the company is bringing back nearly all of its foreign cash.

Apple announces plans to repatriate billions in overseas cash and contribute $350B to US economy!

"Apple on Wednesday made a slew of announcements about its investment in and contribution to the U.S. economy in part because of the new tax law.

The headline from Apple is that it will make a $350 billion 'contribution' to the U.S. economy over the next five years, although it's unclear exactly how the company came to that number." https://www.cnbc.com/2018/01/17/apple-announces-350-billion-investment-20k-jobs-over-5-years.html


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  • (Score: 2, Informative) by Anonymous Coward on Friday January 19 2018, @03:04AM (3 children)

    by Anonymous Coward on Friday January 19 2018, @03:04AM (#624537)

    The tax law change means that Apple decides to bring profits back into the USA.

    No credit is given to the people who made that happen.

    Some people don't want to admit that we're making America great again, or they hate that we are doing so.

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  • (Score: 4, Insightful) by c0lo on Friday January 19 2018, @08:29AM (2 children)

    by c0lo (156) Subscriber Badge on Friday January 19 2018, @08:29AM (#624617) Journal

    Some people don't want to admit that we're making corporate America great again,

    FTFY. Because that's all you are doing. In 10 years, while the 1percenters will continue to pay less tax, 53% of Americans will pay more.

    Woohoo, what a great Great America you're making, enjoy and don't let others have any part of this "blessings", it's only humane to carry it by yourselves.

    --
    https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
    • (Score: 0) by Anonymous Coward on Friday January 19 2018, @08:56AM

      by Anonymous Coward on Friday January 19 2018, @08:56AM (#624624)

      If the 1 percenters are using their resources creating jobs and actually DOING stuff, I have no problem... they HAVE to have the resources to do big things.

      What really gets me is rent-seeking. To me, that kinda thing should be taxed to all high-heaven.

      It sickens me to see my neighbors lose their home to the banks, then house flippers snap it up, and rent it out. On borrowed money. Printed up just for them by their sister business which has a charter as a bank, under the fractional reserve banking law, so they end up effectively buying the house for ten percent of its price.

      I do not begrudge our leaders of industry for their wealth... but I sure begrudge the banking industry for sucking so much overhead in the form of usury for funds they do not have. Somehow our Congress deems the copying of a song off the internet as "theft", but does not consider the actions of our banking system, flooding our markets with ever more loans of dollars they do not have, as fraud of some sort.

    • (Score: 0) by Anonymous Coward on Friday January 19 2018, @09:34AM

      by Anonymous Coward on Friday January 19 2018, @09:34AM (#624630)

      You are assuming the tax cuts will expire as scheduled. That didn't happen with the Bush tax cuts.

      The situation is weird: The expiration is only there so that the bill could be passed with all the democrats in opposition. The democrats then go on about how taxes will increase in a decade, knowing that many people will ignore the fact that this is because democrats refused to help.

      Bernie Sanders tweeted about the taxes going up in the future, and how this showed republicans taxing the middle class. (something Bernie Sanders actually wanted to do!) Ted Cruz immediately offered to make the cuts permanent, asking Bernie Sanders to co-sponser a bill to do so. Hmmm, do you think Bernie Sanders will do that? I doubt it. He just wants to sling mud.