Apple plans new U.S. campus, to pay $38B in foreign cash taxes

Post by zghst » Wed, Jan 17, 2018, 8:32 PM UTC

eqmvii wrote: post #88

downandout wrote: post #36

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…

> a tax plan proposed by a President The corporate tax changes weren't his idea - they have been kicking around Capitol Hill with more or less bipartisan support for years, and it almost happened while Obama was president. The full package of changes wound up being highly politicized and controversial, but the corporate changes were always seen as very likely to pass sooner or later.

Post by pktgen » Wed, Jan 17, 2018, 8:33 PM UTC

ovao wrote: post #100

pktgen wrote: post #85

Earlier quoted context omitted.

It's very telling that most of the announcements of benefits to workers purportedly attributable to the tax cuts are in the form of one-time bonuses. The corporate tax cuts are ongoing; the bonuses to workers are one-time. These are nothing more than PR moves. Moreover, the headlines are misleading in some cases; for example, Walmart's touted "$1,000 bonus" was actually $200-$1,000 depending on years of service. Only…

> These are nothing more than PR moves. They’re certainly good for PR, and perhaps that’s the primary intention, but employees are benefitting from it.

Post by guyzero » Wed, Jan 17, 2018, 8:33 PM UTC

downandout wrote: post #36

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…

Post by untog » Wed, Jan 17, 2018, 8:34 PM UTC

nodesocket wrote: post #92

FigmentEngine wrote: post #76

Earlier quoted context omitted.

https://thinkprogress.org/walmart-fires-thousands-after-bonu...

This is #fakenews. Walmart did not fire employees, Sam's club a separately owned subsidiary did, mainly because the Sam's club business is not doing well and had to make hard decisions. It is widely accepted that Walmart had no idea Sam's club was going to do the round of layoffs when they announced their wage increase and bonuses. Also, thinkprogress really should not be cited as a source of quality unbiased news.

Post by downandout » Wed, Jan 17, 2018, 8:35 PM UTC

IBM wrote: post #108

downandout wrote: post #96

Earlier quoted context omitted.

Unfortunately, that article is clear as mud and seems to use the word “mandatory” in its headline as editorialized clickbait. In its explanation: “[The plan] uses the mechanics under subpart F to impose a one-time ‘toll charge’ on the undistributed, non-previously taxed post-1986 foreign E&P of certain US-owned foreign corporations as part of the transition to a new territorial regime. The toll charge is reduced by a…

I'm not sure why you think a big 4 accounting firm would need to do clickbait, but that's beside the point. Whether Apple left the cash in Ireland or brought it back to the US, they would have paid $38B in taxes. That's the mandatory part. That's what the quoted text literally says. And since you seem to be unaware, the vast majority of Apple's cash has already been in the US for years, invested in US treasuries and…