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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) by Azuma Hazuki on Friday January 19 2018, @09:12PM

    by Azuma Hazuki (5086) on Friday January 19 2018, @09:12PM (#624903) Journal

    You're obsessed with me, guy. Sorry to break this to you, but 1) I've got a girlfriend, soon to be wife and 2) I'm gay, so your chances are about the same as...well, as this not being a gigantic propaganda operation. Cry some more.

    --
    I am "that girl" your mother warned you about...
    Starting Score:    1  point
    Karma-Bonus Modifier   +1  

    Total Score:   2