81–90 of 537 posts
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."
Earlier quoted context omitted.
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?
But for rich and poor alike, a layoff is definitely life-changing....
Earlier quoted context omitted.
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?
That's up to a $1000 bonus. That's if you've been working there for 20 years.
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…
Incorrect. There is a repatriation tax holiday that enables them to pay lower rates than normal on repatriated cash. It is designed to encourage repatriation. They are not required to do so.
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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).
Bank of America, AT&T, Comcast, Walmart, Jetblue, Southwest are just a few who announced $1,000 bonuses. Not laughable to middle class Americans. Aren't middle class who liberals fight for? Source: http://money.cnn.com/2018/01/11/news/economy/tax-law-raises-...
There have been a few announcements of actual wage increases that corporate PR departments have tried to attribute to the tax cuts, but in every one I've looked at, it was clear the wage increase was just the result of normal market forces and dressed up to pretend it was the result of tax cuts. For example, a few banks (including Wells Fargo) announced a minimum wage increase to $15/hour, but Bank of America announced that same change at the end of 2016, before any tax cuts.
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Job creation and hiring mean different things. I can hire someone for a job that already existed and was previously filled by someone else. If I bring a new job into existence, that hasn't been filled by anyone before then saying I created that job doesn't seem particularly untoward.
I anybody creates jobs it's the people who buy stuff and create demand. Then someone will meet that demand and potentially hire someone. I don't think Apple "creates" jobs. It hires people for certain needs that have been created by the market. If they don't fill the need somebody else will do in a market economy.
Can nitpick it for sure. It has billions of dollars sitting around, it can choose to open a new data center, new manufacturing plant, start a cloud offering, Uber-for-dogs, whatever. Or it can continue sitting on that money. It's not automatic. That's what people mean by "job creation". Choosing to invest the money usually involves creating new positions.
Another way to look at it, is that it is location dependent. Since it is an American company, it might "hire" for a position that used to be filled in China, but the new hire is US. On the global market it "hired" someone in the US market it "created" a job.
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?
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…
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.
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…
> 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. Why is that fascinating? It's the tax holiday the tech megacorps have been asking for since the last one in 2004.
Earlier quoted context omitted.
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…
>The repatriation is deemed, i.e no company has a choice in it. Incorrect. There is a repatriation tax holiday that enables them to pay lower rates than normal on repatriated cash. It is designed to encourage repatriation. They are not required to do so.
Unfortunately, you're incorrect.
https://www.pwc.com/us/en/tax-services/publications/insights...