Apple and MAGA!
Ping!
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Posted on 01/17/2018 2:36:51 PM PST by mandaladon
Apple is planning to build another corporate campus and hire 20,000 workers during the next five years as part of a $350 billion commitment to the U.S. that will be partially financed by an upcoming windfall from the country's new tax law.
The pledge announced Wednesday comes less than a month after Congress approved a sweeping overhaul of the U.S. tax code championed by President Donald Trump that will increase corporate profits.
Besides dramatically lowering the standard corporate tax rate, the reforms offer a one-time break on cash being held overseas.
Apple plans to take advantage of that provision to bring back about $252 billion in offshore cash, generating a tax bill of roughly $38 billion. It's something that Apple CEO Tim Cook promised the company would do if it could avoid being taxed at the 35 percent rate that had been in effect under the previous tax law.
About $75 billion of the $350 billion in U.S. investments will be paid from money that had been overseas, Apple estimated.
Companies who bring back money stashed overseas this year will be taxed at a 15.5 percent rate, below the new 21 percent rate for U.S. corporate profits under the new law. As a whole, corporate America has an estimated $2.6 trillion in overseas cash, with most of that concentrated in the technology industry, with Apple sitting at the top of the heap.
(Excerpt) Read more at newsmax.com ...
Nasty Pelosi said it’s crumbs................
We want Apple and Amazon in Alabama. Please come here, we will treat you right.
I don’t understand the numbers. Is my math way off? If you hired a million people, and spent $350,000 for each one of them, you would go through $350B.
Hiring “only” 20,000? How much are they being paid?
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Start up the H1-b presses!
Jut kidding, it’s good news. But let’s see what happens. Promises are cheap.
All good. How about cutting iPhone prices in half?
Is Apple going to put its money where its politics are? Will they build this new facility in some high tax coastal sh!thole city?
20,000 jobs is a lot of crumbs.
Profits...so companies making 9-11% in profits, is to liberals, greed, and what is wrong with America.
But government taking anywhere from 10-37% of what we earn is "just paying our fair share."
Winning!
Amazon wants access to an airport that can flying International routes. They should seriously consider a campus site near the under-used Fort Worth Alliance Airport.
Hopefully they are smart enough to locate outside of California.
You’re right.
Bay Area tech companies are not interested in hiring American. H1-Bs for all!
No, you misunderstand. Apple makes money every year by generating revenue. . . they are talking about money flowing into the US economy from Apple's business activity.
This does not just flow from the money paid to employees. . . but also from purchases, retail sales, etc. This money flows through the economy at every level. The more of it that moves through the US economy, the better and more gets syphoned off to the US and state treasuries at every one of those levels as it changes hands.
Sword is this going to be another donut - mother ship? Just want to know.
Then the money won't happen. . . Apple would join all the rest of the cellular phone makers in a race to the bottom of the barrel toward bankruptcy. There are only one or two cellular phone makers at most, usually only one, that ever makes a profit in the cellphone industry. One of those has always been Apple, the other is usually Samsung. The rest post losses.
Apple's second largest concentration of employees is already in Austin, Texas. Next is Cork, Ireland.
But, I suspect they will build in California, near their current headquarters.
I have no clue. . . it depends on how well the space ship design works. If they find the efficiency of the ring design is working well, they might build another. If not, they may try another design innovation. Time will tell.
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