I'd like to know who those 9,000 American suppliers and manufacturers are. Other than Corning who supplies the Gorilla Glasses for almost all smartphone makers, I can't really name any significant domestic suppliers who would make up $55B of their "spending."
I'm guessing they are also counting suppliers for their infrastructure. So they are counting it when they buy 2x4s for a corporate office from a US wood supplier.
Technically, the structural components for an Apple corporate office are likely to also come from Corning.
>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 What percentage of jobs of these are full time versus part time? Why do large corporations and politicians love to toot their horns about 'jobs', but refuse to go into details? Oh wait, there public. >Employees:As of Septembe…
They're counting app developers, who may be working full-time for themselves or another employer.
>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 What percentage of jobs of these are full time versus part time? Why do large corporations and politicians love to toot their horns about 'jobs', but refuse to go into details? Oh wait, there public. >Employees:As of Septembe…
They are also probably considering a number of indirect jobs (say, waiter at a restaurant near their campus) so that 6% figure is incorrect
they finally pay for part of what they owe You only owe the taxes that the law compels you to pay. There's no obligation whatsoever to pay a dime more. Do you personally look to pay the maximum amount of taxes that you could possibly justify through various readings of the tax code? Because I guarantee that your tax software or your tax accountant are not "taking advantage" of opportunities for you to pay more unless…
No but I also don't set up a pretend subsidiary in Ireland that owns my intellectual property and pays me dividends for my freelance work. To pretend that they didn't go above and beyond to avoid paying taxes is lunacy.
If it cost $5 and took less than 10 minutes to set up, would you?
For apple, the effort is worth the benefit. For you, it may not be.
I find it fascinating that a tax plan proposed by a President reviled throughout the Valley is the one thing that finally convinced Apple to repatriate much of its overseas cash and invest it here in the US. They of course give no credit to him in this press release, but the proof is in the pudding. Of the many heavy handed ideas and efforts made by the previous administration to convince Apple to do this, exactly 0…
Once corporations have exhausted their large hoard of overseas cash, the amount they repatriate will go down significantly. So isn't this really just a short-term boost?
The idea I think was to lower the corporate tax in general which will also give companies an incentive to stay and pay taxes here. Don't know how that will work long term. Maybe it will, until there would be another tax haven country advertising a better tax deal.
To be fair the bonuses I've heard about have been laughable so far and accompanied by large lay offs in two cases (Walmart and Comcast).
> I've heard about have been laughable so far Having been poor, then living on $750/month in US for many years, a $1000 bonus is not life changing but also not laughable. The companies certainly didn't have to give those and could have pocketed all of it. > large lay offs in two cases (Walmart and Comcast). Are those because of the tax incentives?
> Are those because of the tax incentives?
Decreasing taxes on retained profits increases the incentive to cut any activity that is a short term loss rather than trying to turn it around.
Because business expenses are deductible from corporate “income” taxes, they are functionally retained profits taxes.
I find it fascinating that a tax plan proposed by a President reviled throughout the Valley is the one thing that finally convinced Apple to repatriate much of its overseas cash and invest it here in the US. They of course give no credit to him in this press release, but the proof is in the pudding. Of the many heavy handed ideas and efforts made by the previous administration to convince Apple to do this, exactly 0…
Once corporations have exhausted their large hoard of overseas cash, the amount they repatriate will go down significantly. So isn't this really just a short-term boost?
A short term domestic investment for a long-term tax benefit. The headlines made immediately after the new legislation is passed are what will stick with people the most.
I'm not saying this is definitely the case, and I would love to be proven wrong. I just don't see how a tax cut would have corporations scrambling to return jobs to the U.S., instead of having both a tax cut AND cheap foreign labor.
I find it fascinating that a tax plan proposed by a President reviled throughout the Valley is the one thing that finally convinced Apple to repatriate much of its overseas cash and invest it here in the US. They of course give no credit to him in this press release, but the proof is in the pudding. Of the many heavy handed ideas and efforts made by the previous administration to convince Apple to do this, exactly 0…
Nobody had to convince Apple or any other company to do anything. The repatriation is deemed, i.e no company has a choice in it. And while you may believe it was "proposed" by Trump, it has actually been in the works for years by both parties in Congress and by Obama [1]. They could just never pass a bill (because what else did you expect with Obama in the WH and Republicans in control of Congress) because Democrats…
you couldnt pass this bill becuase liberals didnt want it , because liberals dont want to see this kind of legislation. You have it now becuase liberals have less stopping power.
I find it fascinating that a tax plan proposed by a President reviled throughout the Valley is the one thing that finally convinced Apple to repatriate much of its overseas cash and invest it here in the US. They of course give no credit to him in this press release, but the proof is in the pudding. Of the many heavy handed ideas and efforts made by the previous administration to convince Apple to do this, exactly 0…
Once corporations have exhausted their large hoard of overseas cash, the amount they repatriate will go down significantly. So isn't this really just a short-term boost?
No. These types of investments don’t simply wash away - they go to building long term value for the corporations that make them, which creates good jobs, demand for housing, etc. Further, as long as this tax plan remains in place, corporations will continue to allow international profits to flow back into the US. Even if Trump is unseated in the next election, given the positive reaction among corporations to his tax plan, it may be politically impossible for the next Administration to return to punitive tax rates despite their predilection for them.
All the comments seem to be sketpical or negative. I think it's funny if you go back right before tax reform passed and look at all the comments on articles here on HN almost all were blasting tax reform. Saying it won't work, it does not help the economy, does not create jobs, and repatriation only leads to stock buybacks and executive bonuses. So far we've seen company after company giving substantial bonuses to al…
To be fair the bonuses I've heard about have been laughable so far and accompanied by large lay offs in two cases (Walmart and Comcast).
What about Walmart also increasing their hourly pay? [0]