Apple, Returning Overseas Cash, to Pay $38 Billion Tax Bill

[rmt]

Apple Inc. said it will bring hundreds of billions of overseas dollars back to the U.S., pay about $38 billion in taxes on the money and spend tens of billions on domestic jobs, manufacturing and data centers in the coming years.

The iPhone maker plans capital expenditures of $30 billion in the U.S. over five years and will create 20,000 new jobs at existing sites and a new campus it intends to open, the Cupertino, California-based company said Wednesday in a statement. Apple’s shares rose 1.7 percent to a record closing price of $179.10 in New York.

“We are focusing our investments in areas where we can have a direct impact on job creation and job preparedness,” Chief Executive Officer Tim Cook said in the statement, which alluded to unspecified plans by the company to accelerate education programs.

Apple also told employees Wednesday that it’s issuing stock-based bonuses worth $2,500 each following the new U.S. tax law, according to people familiar with the matter.

In its December approval of the most extensive tax-code revisions since 1986, Congress scrapped the previous international tax system for corporations -- an unusual arrangement that allowed companies to defer U.S. income taxes on foreign earnings until they returned the income to the U.S. That “deferral” provision led companies to stockpile an estimated $3.1 trillion offshore and many were criticized for the moves, including Apple.

By switching to a new system that’s designed to focus on domestic economic activity, congressional tax writers also imposed a two-tiered levy on that accumulated foreign income: Cash will be taxed at 15.5 percent, less liquid assets at 8 percent. Companies can pay over eight years.

Apple is the first major U.S. technology company to act on the new tax law and it joins others, such as Intel Corp., in responding to criticism by President Donald Trump and others that corporations have been ignoring American workers and manufacturing. Job creation was a key pillar of Trump’s election campaign. That means the new positions created by Apple are likely to have a more significant political impact than its $38 billion tax payment, according to Erik Gordon, a professor at the University of Michigan’s Ross School of Business.

“The thrust here is American jobs, jobs on American soil, build manufacturing here, don’t build everything in China,” Gordon said. “You can’t have an announcement of a million jobs. But you can have companies like Apple saying that we’re going to have 20,000 new jobs here. If other companies say they’re going to have new jobs too, it does add up.”

Apple has the largest offshore cash reserves of any U.S. company, with about $252 billion at the end of September, the most recently reported fiscal quarter. The tax rate indicates that Apple is likely bringing back a majority of its overseas cash back to the U.S., leaving only a small portion for international investments like retail stores.

“They’re going to have well over $200 billion by the end of this year that will be available for incremental investments, capital returns and M&A,” said Matthew Kanterman, a New York-based Bloomberg Intelligence analyst. The new tax law lets U.S. companies bring overseas cash reserves back home in one year and pay the resulting tax bill over eight years. “And Apple hasn’t historically done big M&A,” he said.

The $30 billion in capital expenditures will come as part of $350 billion that Apple expects to spend in the U.S. over the next five years. The 20,000 new jobs include additional Apple employees at its campuses, data centers, and retail stores, but not third-party developers for iPhone and Mac apps, an economy Apple has touted in the past.


Apple said that part of the $30 billion in capital expenditures will go toward a new U.S.-based campus, new data centers and additional supplier investments. The company, which opened a new headquarters in Cupertino last year, said its new U.S. site initially will be focused on employees who provide technical support to Apple product users. The new location, which Apple said it will announce later this year, will be similar to the company’s existing campus in Austin, Texas, for supply-chain and technical-support employees.

Apple said it will increase its local manufacturing fund, announced last year, from $1 billion to $5 billion, indicating that it will be sourcing more components for its products domestically. As part of the original fund, Apple invested in Corning Inc. and Finisar Corp., companies that make components for iPhone glass screens and lasers for Face ID and AirPods, respectively.

“These are probably many capital expenditure initiatives and new site build-outs that Apple was already planning on doing regardless of repatriation,” said Michael Olson, an analyst at Piper Jaffray, who has the equivalent of a buy rating on the stock.

“What’s not said in this release is that there is more potential for increased buybacks for shareholders and acquisitions that might not have taken place if it were not for the cash influx from overseas,” Olson said. Apple typically provides updates on its share buyback program when it announces second quarter earnings.



https://www.bloomberg.com/news/videos/2018-01-17/apple-expects-repatriation-tax-payments-of-about-38b-video


https://www.bloomberg.com/news/articles/2018-01-17/apple-expects-38-billion-tax-bill-on-overseas-repatriated-cash

[rmt]

Apple's Press Release:


Apple accelerates US investment and job creation

$350 Billion Contribution to US Economy Over Next Five Years


https://www.apple.com/newsroom/2018/01/apple-accelerates-us-investment-and-job-creation/

[rmt]

Yes! Just as I had hoped.

[Blake]

Wow thanks Trump!

[rmt]

Wow thanks Trump!

Pretty telling - good news for the country and hardly a word from anyone - people would rather comment on s******e, mental deterioration, insults, and banging.

[Pavlov]

Good news for the Apple expansion in West Virginia.

[boutons_deux]

Fuck Apple and their tax avoidance /evasion

The bulk of this money will go to Capital, not Labor

[dabom]

Fuck Apple and their tax avoidance /evasion

The bulk of this money will go to Capital, not Labor

[ducks]

Fuck Apple and their tax avoidance /evasion

The bulk of this money will go to Capital, not Labor
Poor you trump said companies would do this

[ducks]

Good news for the Apple expansion in West Virginia.

[Pavlov]

That was a joke. They'll probably quadruple their presence in Austin now.

[Chucho]

Poor you trump said companies would do this

LMAO. Ducks doing "The Ducks" and pissing all over Booty.

[DMX7]

$38B doesn't cover the $1.5T the tax bill cost the US tax payers.

[ducks]

Better to nothing and other companies will do it to

[Chucho]

$38B doesn't cover the $1.5T the tax bill cost the US tax payers.

Is that $1.5 trillion annually or over an estimated time frame?

[Th'Pusher]

Is that $1.5 trillion annually or over an estimated time frame?

It’s an estimated value over a specific time frame.

[Chucho]

It’s an estimated value over a specific time frame.

How long? Like during this term? A decade?

[Th'Pusher]

How long? Like during this term? A decade?

10 years. Read the fucking news or stop playing dumb. That $38B is a one time payment and was factored in when projecting the impact of cost of the tax bill.

[dabom]

10 years. Read the fucking news or stop playing dumb. That $38B is a one time payment and was factored in when projecting the impact of cost of the tax bill.

You did more in that one answer than 3 of these repug faggots. tbh. :lol

[Chucho]

10 years. Read the fucking news or stop playing dumb. That $38B is a one time payment and was factored in when projecting the impact of cost of the tax bill.

So that $38 billion was factored in? Didn't see that in the CRFB analysis a few months ago. And if that $38 b was factored in, why not the "tens of billions" Apple is going to spend and invest, the $350 billion referenced in this article? The $1.5 trillion could be on the high end of the cost projection. And if Apple is "coming home", its a safe assumption others will too and will pay taxes and offset that $1.5 trillion and push the cost projection further to the high end.

$1.5 trillion added over a decade when the debt has basically quadrupled in two decades isn't much in the grand scale. The debt surpassing the economy in ten years isn't anywhere near the fault of this tax cut as it is the insane spending by the government this century.

I get you, but you can walk back the douche a few feet every now and then for discussion sake.

[Chucho]

You did more in that one answer than 3 of these repug faggots. tbh. :lol

Cheerleader routines. Neat.

[DMX7]

So that $38 billion was factored in? Didn't see that in the CRFB analysis a few months ago. And if that $38 b was factored in, why not the "tens of billions" Apple is going to spend and invest, the $350 billion referenced in this article? The $1.5 trillion could be on the high end of the cost projection. And if Apple is "coming home", its a safe assumption others will too and will pay taxes and offset that $1.5 trillion and push the cost projection further to the high end.

$1.5 trillion added over a decade when the debt has basically quadrupled in two decades isn't much in the grand scale. The debt surpassing the economy in ten years isn't anywhere near the fault of this tax cut as it is the insane spending by the government this century.

I get you, but you can walk back the douche a few feet every now and then for discussion sake.

The analysis probably did consider the benefits of repatriation due to lower tax rates. It may not have singled out by name Apple in any analysis but substantial repatriation almost certainly had to be an assumption in their calculations.

[Chucho]

The analysis probably did consider the benefits of repatriation due to lower tax rates. It may not have singled out by name Apple in any analysis but substantial repatriation almost certainly had to be an assumption in their calculations.

Might re-visit it soon, it was a very detailed, itemized cost breakdown.

[DMX7]

Might re-visit it soon, it was a very detailed, itemized cost breakdown.

link me to what you were looking at. This is offsetting revenue, not cost.

[Chucho]

http://www.crfb.org/blogs/tax-cut-and-jobs-act-will-cost-15-trillion

[ElNono]

I don't understand the OP's happiness over this, considering she claims to be worried about deficits. These 'tax holidays' where companies only pay a small percentage of what they're due in taxes only add to the deficit.

Puzzling, tbh

[Isitjustme?]

I don't understand the OP's happiness over this, considering she claims to be worried about deficits. These 'tax holidays' where companies only pay a small percentage of what they're due in taxes only add to the deficit.

Puzzling, tbh

Now that the coon's gone from the White House the deficits seem to be puzzingly less important

[ElNono]

Now that the coon's gone from the White House the deficits seem to be puzzingly less important

It's also the implied cuckery.... basically, you can't dodge taxes like Apple or Google does, you should be actually pretty mad that they game the system and get away with it, tbh...

Talk about draining the swamp

[boutons_deux]

$38B = 15%

would have been about $100B in taxes at 39%. So the oligarchy, with Apple alone, just stole $60B from US.

Next up, BigPharma drug traffickers to repeat their scam the Repugs gave them in 2004. Repatriate $10Bs at 5%, then fire 10Ks employees

[pgardn]

Now that the coon's gone from the White House the deficits seem to be puzzingly less important

Yes.

Its just you.

[Blake]

LMAO. Ducks doing "The Ducks" and pissing all over Booty.


Cheerleader routines. Neat.

Lol

[Chucho]

Lol


Free rent.

[Blake]

Free rent.

That's not how it works, dummy.

[DisAsTerBot]

That's not how it works, dummy.

:lol

[Chucho]

That's not how it works, dummy.

You're spending an awful lot of time thinking about me. Rent free, dummy.

[Pavlov]

You're spending an awful lot of time thinking about me. Rent free, dummy."Rent free" can be used when you are mentioned in a thread you haven't posted in. Quoting two of your posts from the same thread posted an hour apart doesn't really qualify tbh.

You knew all this tho.

[Chucho]

"Rent free" can be used when you are mentioned in a thread you haven't posted in. Quoting two of your posts from the same thread posted an hour apart doesn't really qualify tbh.

You knew all this tho.


Rules. Got it.

[dabom]

"Rent free" can be used when you are mentioned in a thread you haven't posted in. Quoting two of your posts from the same thread posted an hour apart doesn't really qualify tbh.

You knew all this tho.

:lol

[Pavlov]

Rules. Got it.Jeez, cry some more. It's just logic.

[Chucho]

Jeez, cry some more. It's just logic.


Yup. Major tantrum going on here.

[Pavlov]

Yup. Major tantrum going on here.He made an easy and funny joke at your expense. And you just had to respond with "Oh yeah, well you're thinking about me because you read my previous posts in this thread from a few hours ago!"

Thin skinned tbh.

[Reck]

Right. Just like the Carrier jobs and money that were supposed to come back. :lol

[Chucho]

He made an easy and funny joke at your expense. And you just had to respond with "Oh yeah, well you're thinking about me because you read my previous posts in this thread from a few hours ago!"

Thin skinned tbh.
So, he is too since that's what triggered his joke?

[Pavlov]

So, he is too since that's what triggered his joke?Your contradicting yourself in the period of one (1) hour triggered it.

It was funny.

Get over it. Stop trying to get back at him for making a joke at your expense.

[Blake]

So, he is too since that's what triggered his joke?

Lol needing help to figure out zing logic

[Chucho]

Your contradicting yourself in the period of one (1) hour triggered it.

It was funny.

Get over it. Stop trying to get back at him for making a joke at your expense.


:lol

[Pavlov]

:lolSee? That's exactly what you should've posted in response to the joke.

[Isitjustme?]

Yes.

Its just you.

huh?

[TeyshaBlue]

Right. Just like the Carrier jobs and money that were supposed to come back. :lol

Yeah. I made a shitty bad call in that thread.:depressed

[DMC]

Deficit will exist regardless. Rather see some of it benefit working Americans instead of nanny lifetime dependant types.

[ElNono]

Deficit will exist regardless. Rather see some of it benefit working Americans instead of nanny lifetime dependant types.

you mean like the military? :lol

IMO, it's a fairly safe bet that the $100+ billion they skirted in taxes would've helped/affected more than the 20,000 people that will benefit from this $350b investment.

Heck, economically speaking, taxing is one of the main avenues to redistribute wealth.

[pgardn]

you mean like the military? :lol

IMO, it's a fairly safe bet that the $100+ billion they skirted in taxes would've helped/affected more than the 20,000 people that will benefit from this $350b investment.

Heck, economically speaking, taxing is one of the main avenues to redistribute wealth.

OOOOOOOOOO

Kidney shot.
Commence peeing blood.

[boutons_deux]

Apple aint gonna invest $350B :lol

[rmt]

$38B = 15%

would have been about $100B in taxes at 39%. So the oligarchy, with Apple alone, just stole $60B from US.

Next up, BigPharma drug traffickers to repeat their scam the Repugs gave them in 2004. Repatriate $10Bs at 5%, then fire 10Ks employees

Why do you and ElNono choose to think that the government would ever have gotten those taxes? Do you think that Apple is stupid - that's what they'd have to be to bring back that money for a 39?% hit. That 39% was law and companies chose to stash trillions abroad. Now 15% is law and we'll see which other companies follow suit. I think $38billion is a good sight better than $0 - which it would have continued to be forever at that 39% rate.

[rmt]

And those 20000 workers will be paying federal taxes, creating demand (more jobs), spending money (state taxes), etc. and if coming off unemployment/welfare - using less government aid.

[ElNono]

And those 20000 workers will be paying federal taxes, creating demand (more jobs), spending money (state taxes), etc. and if coming off unemployment/welfare - using less government aid.

:lol who are you kidding? Those are data center jobs, not menial work. You can't seriously be this naive.

You still seem oblivious that the government is us. You and me.

You take 1/10th of the $100b they skirted *US* (you and me), put it on an infrastructure project, you employ just the same amount of people, benefit way more than 20000 people and you still have $90b to spare.

The argument that they wouldn't bring the money over is ridiculous, and nonsense. The only reason they don't pay what they're due is lack of enforcement and closing of loopholes. None of which this administration did (nor the previous one).

This is just another handout from the swamp to the well connected, too big to fail, while you and me are going to get audited to hell and back if we screw up a line on our tax return.

[ElNono]

And it's not a matter of "choosing to think" or "alternative facts"... The fact is these companies are getting away with murder due to the complicity of DC and the tax code with well known loopholes that never get closed.

That's a fact, and while that's there and we keep handing out these companies "tax holidays", we keep getting the short end of the stick.

I really don't get at all the celebration over this, tbh...

[DMC]

you mean like the military? :lol

IMO, it's a fairly safe bet that the $100+ billion they skirted in taxes would've helped/affected more than the 20,000 people that will benefit from this $350b investment.

Heck, economically speaking, taxing is one of the main avenues to redistribute wealth.
The legless ones or the ones who came back in boxes?

It would have helped more people. Mostly the Chinese.

[DMC]

:lol who are you kidding? Those are data center jobs, not menial work. You can't seriously be this naive.

You still seem oblivious that the government is us. You and me.

You take 1/10th of the $100b they skirted *US* (you and me), put it on an infrastructure project, you employ just the same amount of people, benefit way more than 20000 people and you still have $90b to spare.

The argument that they wouldn't bring the money over is ridiculous, and nonsense. The only reason they don't pay what they're due is lack of enforcement and closing of loopholes. None of which this administration did (nor the previous one).

This is just another handout from the swamp to the well connected, too big to fail, while you and me are going to get audited to hell and back if we screw up a line on our tax return.

We aren't the government just like we aren't the police. We can pretend we are but both have become entities that are a tier above "we the people", in that they have become autonomous groups.

[ElNono]

We aren't the government just like we aren't the police. We can pretend we are but both have become entities that are a tier above "we the people", in that they have become autonomous groups.

Then that's what we need to change, tbh... we can be happy when the "swamp has been drained" and all that is more than just rhetoric...

IOW, celebrating that the rapist used a condom doesn't makes much sense, IMO...

[ElNono]

The legless ones or the ones who came back in boxes?

It would have helped more people. Mostly the Chinese.

Either one works, those pensions ain't paying themselves... but that's from the angle of somebody that's allegedly worried about deficits.

It's ok to hate taxes, but from an economic standpoint, some people need to understand that taxation is an integral part to any healthy economy.

What's baffling is the government picking you as the loser, and celebrating it, tbh...

[DMC]

Getting a pension from 20+ years of near minimum wage salary for being away from your family for months on end isn't the same was being on government assistance through welfare anchor baby pyramid lifestyle. You might as well say the postman or perhaps the senator. Both get government pensions.

We are 16 trillion or so in the hole. We'll be 30 trillion in a few years. None of that will be in my account. Whatever I can get out of the melee I will get. I can feel guilty while financially secure as easily as I can feel morally superior while broke.

[DMC]

Then that's what we need to change, tbh... we can be happy when the "swamp has been drained" and all that is more than just rhetoric...

IOW, celebrating that the rapist used a condom doesn't makes much sense, IMO...

Why not? The alternative is the rapist didn't use a condom. We're getting fucked either way. If nothing else has been made clear in the past however many hundred years, that has.

[ElNono]

Getting a pension from 20+ years of near minimum wage salary for being away from your family for months on end isn't the same was being on government assistance through welfare anchor baby pyramid lifestyle. You might as well say the postman or perhaps the senator. Both get government pensions.

We are 16 trillion or so in the hole. We'll be 30 trillion in a few years. None of that will be in my account. Whatever I can get out of the melee I will get. I can feel guilty while financially secure as easily as I can feel morally superior while broke.

Economically they're the same thing. They're all government expenses that largely get funded by either debt or tax revenue. You can prefer more money goes one way or the other, but that doesn't invalidate that the funds for all that comes from taxes or debt.

So if you're forgiving taxation, you're automatically adding to the debt. I recall OP being extremely worried about the deficit and the debt and the future of our children, tbh, pretty ironic...

[ElNono]

Why not? The alternative is the rapist didn't use a condom. We're getting fucked either way. If nothing else has been made clear in the past however many hundred years, that has.

You're still getting raped, that's why. This wasn't unavoidable. There were actions taken specifically so this would happen, and not only that, to ensure we keep getting raped without lube.

There's nothing to celebrate about that, IMO.

[Pavlov]

lol DMC always acts like nothing has ever or will ever happen to him.

[DMC]

Economically they're the same thing. They're all government expenses that largely get funded by either debt or tax revenue. You can prefer more money goes one way or the other, but that doesn't invalidate that the funds for all that comes from taxes or debt.

So if you're forgiving taxation, you're automatically adding to the debt. I recall OP being extremely worried about the deficit and the debt and the future of our children, tbh, pretty ironic...

That's all bullshit. Very few understand the long term implications of our debt. I understand the short term implications of mine however.

[DMC]

lol DMC always acts like nothing has ever or will ever happen to him.

Like you'll always be post count whoring under some shitbird alt? I'd bet on it.

[DMC]

You're still getting raped, that's why. This wasn't unavoidable. There were actions taken specifically so this would happen, and not only that, to ensure we keep getting raped without lube.

There's nothing to celebrate about that, IMO.

How is it unavoidable? What could I personally do to avoid it?

[Pavlov]

Like you'll always be post count whoring under some shitbird alt? I'd bet on it.:lol I struck a nerve.

[Th'Pusher]

How is it unavoidable? What could I personally do to avoid it?

DMC a disciple Boutons’ fucked and unfuckable gospel :lol

[Blake]

DMC a disciple Boutons’ fucked and unfuckable gospel :lol

Lol

[DMC]

Why did no one here avoid it?

[DMC]

:lol I struck a nerve.

Seems to happen every time you get ethered.

See if you can find the root cause.

[Pavlov]

Seems to happen every time you get ethered.:lol tough guy ether

[ElNono]

That's all bullshit. Very few understand the long term implications of our debt. I understand the short term implications of mine however.

It's not really that complicated. Inflation, first, followed by lower standards of living...


How is it unavoidable? What could I personally do to avoid it?

Who said you or the OP had to do anything personally? OP isn't celebrating she received a tax holiday, she's celebrating that Congress enacted a tax holiday that enabled Apple to skirt billions in taxes.

So yeah, it was avoidable, and it was wrong, IMO.

[DMC]

It's not really that complicated. Inflation, first, followed by lower standards of living...



Who said you or the OP had to do anything personally? OP isn't celebrating she received a tax holiday, she's celebrating that Congress enacted a tax holiday that enabled Apple to skirt billions in taxes.

So yeah, it was avoidable, and it was wrong, IMO.

All I can do is not buy Apple products. I don't own any. So from where I stand, if it puts more money in my pocket vs removing money from my pocket (all else being equal in my life), then it's not wrong.

[rmt]

:lol who are you kidding? Those are data center jobs, not menial work. You can't seriously be this naive.

You still seem oblivious that the government is us. You and me.

You take 1/10th of the $100b they skirted *US* (you and me), put it on an infrastructure project, you employ just the same amount of people, benefit way more than 20000 people and you still have $90b to spare.

The argument that they wouldn't bring the money over is ridiculous, and nonsense. The only reason they don't pay what they're due is lack of enforcement and closing of loopholes. None of which this administration did (nor the previous one).

This is just another handout from the swamp to the well connected, too big to fail, while you and me are going to get audited to hell and back if we screw up a line on our tax return.

You really think that the government is us - you and me? What a joke if you think those two-faced politicians in DC represent us? Me? Do you think I would be shutting down the government over illegal immigrants? What don't you understand about - under the previous law at 39% no company in its right mind would bring back those billions. Now 15% is law - forget the old - that is no longer law. Why do you feel entitled to it? IMO, money is best used in our and companies' hands - not the government - who take their "share" for their healthcare, pensions, "administrative costs", distribute to who knows what and wastes the rest.

[ElNono]

You really think that the government is us - you and me? What a joke if you think those two-faced politicians in DC represent us? Me? Do you think I would be shutting down the government over illegal immigrants? What don't you understand about - under the previous law at 39% no company in its right mind would bring back those billions. Now 15% is law - forget the old - that is no longer law. Why do you feel entitled to it? IMO, money is best used in our and companies' hands - not the government - who take their "share" for their healthcare, pensions, "administrative costs", distribute to who knows what and wastes the rest.

For once, please get past the dogma, and actually read and learn something. This isn't about representation, it's about simple economics.

Let's start with basic math: 15% of $350b isn't $38b, it's $52.5b. So, right off the bat, we both know they've a "tax holiday" going on. But, regardless, that cash has been there prior to this law, and there's much more out there (to the tune of trillions) which should've been paid for, at the previous or current rate. Are you aware that US citizens that live overseas still have to report and pay US income taxes? I mean, even if you permanently moved. The rules should apply to everyone equally.

Second, as already explained above, every tax dollar that doesn't come in, gets covered with debt. The roads you use, the military that protects you, the education (that you opt not to use, but most people have to work and don't have a choice in that), etc etc etc gets paid with tax dollars or debt.

Remember when you mentioned how your children will have a huge debt burden on their shoulders? You did sound really worried about it. Well, this just put an extra burden on your children.

Third, there's a more complicated technical issue with economy in general, and I can go more into detail about it, but basically, when you have a small number of players hoarding the currency, that's not a healthy economy. That's primarily why taxation exists at all. As much as your dogma tells you that wealth redistribution is a bad thing, it's an integral part of any healthy economy. Taxation is the tool to do that.

Now that we have economy explained, let's circle back to representation: So these 'two-faced politicians in DC' that doesn't represent you put a higher burden on your children's future, and you're celebrating and hoping more of this happen???? Do you hate your children or something?

[ElNono]

All I can do is not buy Apple products. I don't own any. So from where I stand, if it puts more money in my pocket vs removing money from my pocket (all else being equal in my life), then it's not wrong.

At a personal level you can also vote to stop sending these guys over to DC. But what we can do personally doesn't preclude stating our opinions about something that's just plain wrong and fuck us all up. This is one of those, IMO.

[rmt]

For once, please get past the dogma, and actually read and learn something. This isn't about representation, it's about simple economics.

Let's start with basic math: 15% of $350b isn't $38b, it's $52.5b. So, right off the bat, we both know they've a "tax holiday" going on. But, regardless, that cash has been there prior to this law, and there's much more out there (to the tune of trillions) which should've been paid for, at the previous or current rate. Are you aware that US citizens that live overseas still have to report and pay US income taxes? I mean, even if you permanently moved. The rules should apply to everyone equally.

Second, as already explained above, every tax dollar that doesn't come in, gets covered with debt. The roads you use, the military that protects you, the education (that you opt not to use, but most people have to work and don't have a choice in that), etc etc etc gets paid with tax dollars or debt.

Remember when you mentioned how your children will have a huge debt burden on their shoulders? You did sound really worried about it. Well, this just put an extra burden on your children.

Third, there's a more complicated technical issue with economy in general, and I can go more into detail about it, but basically, when you have a small number of players hoarding the currency, that's not a healthy economy. That's primarily why taxation exists at all. As much as your dogma tells you that wealth redistribution is a bad thing, it's an integral part of any healthy economy. Taxation is the tool to do that.

Now that we have economy explained, let's circle back to representation: So these 'two-faced politicians in DC' that doesn't represent you put a higher burden on your children's future, and you're celebrating and hoping more of this happen???? Do you hate your children or something?


Somewhat old: 6/17

Speaking to Bloomberg Businessweek, Cook said bringing that money back is "what's good for America." Cook suggested that a more reasonable percentage — 10 percent or 20 percent — repatriation should be required.

"The issue is not that there's a tax on international earnings. The issue is the existing tax has been crazy," Cook said. "No one would bring it back at a 40 percent—I mean, 35 percent federal and then state taxes. That's the problem. I think it's smart for the United States to have some kind of tax revenue for international earnings—if that tax were reasonable."

It's not the first time that Cook has suggested Apple has an unreasonable tax burden. With most of its $256.8 billion cash overseas, Apple has taken some creative measures to keep taxes low in places like Ireland.

15% of 256.8 billion (cash) = 38 billion - that's where (I guess) the tax amount articles are mentioning is from. Maybe the other $100 billion is for capital expenditures (for the 2nd campus, equipment) which may be deducted/written off immediately (don't quote me on this but I remember reading something like this). So I don't think there's any "tax holiday" - unless you're still stuck on the old 39% which as Tim Cook said above was never gonna come back.

https://www.cnbc.com/2017/06/15/apple-ceo-tim-cook-explains-his-plan-for-repatriation.html


Were you complaining or concerned about the country's debt when Obama was rolling out his shovel-ready jobs, $ in stimulus, Cash for Clunkers and whatever program they dreamed up? At least, we can see tangible results now in the stock market, data/numbers, and uptick in (future) jobs. I can also tell the difference from a year ago with the number of job emails for dh and when looking for intern jobs for ds (under Indeed "mechanical engineer intern") - shows up a lot more results than a year ago. The future is looking a little brighter but you are so underwhelmed by $350 billion in investment - it's like hoe-dee-hum-hum - just another day.

I am interested in the jobs (which is what such a huge investment [and hopefully more companies follow suit] will affect) - not what taxes the government gets - because very little is coming back to me. Other than keeping me safe (military), natural disasters (that local governments might not be able to handle and need outside help), and roads when I go on my yearly vacation, I'm not affected much by government - it's mostly I pay my taxes and file my return.


It's not my dogma telling me anything, it's my common sense/self-interest/human nature telling me that - after all, what is the use of working for something, if it's just going to be taken from you and given to someone else?


And please, must you sound so condescending? I took 4 eco classes in college - I don't need the economy explained to me. Regardless of what you say, I'm going to continue to vote and act in my and my kids' best future interests (and I don't think I'm alone in this sentiment whether individual or company) - which is the least taxes possible. If you are so enamored with the government getting what you consider their fair share, you are free to give them more of yours, but please keep your hands off mine.

[ElNono]

Somewhat old: 6/17

Speaking to Bloomberg Businessweek, Cook said bringing that money back is "what's good for America." Cook suggested that a more reasonable percentage — 10 percent or 20 percent — repatriation should be required.

"The issue is not that there's a tax on international earnings. The issue is the existing tax has been crazy," Cook said. "No one would bring it back at a 40 percent—I mean, 35 percent federal and then state taxes. That's the problem. I think it's smart for the United States to have some kind of tax revenue for international earnings—if that tax were reasonable."

It's not the first time that Cook has suggested Apple has an unreasonable tax burden. With most of its $256.8 billion cash overseas, Apple has taken some creative measures to keep taxes low in places like Ireland.

15% of 256.8 billion (cash) = 38 billion - that's where (I guess) the tax amount articles are mentioning is from. Maybe the other $100 billion is for capital expenditures (for the 2nd campus, equipment) which may be deducted/written off immediately (don't quote me on this but I remember reading something like this). So I don't think there's any "tax holiday" - unless you're still stuck on the old 39% which as Tim Cook said above was never gonna come back.

https://www.cnbc.com/2017/06/15/apple-ceo-tim-cook-explains-his-plan-for-repatriation.html

It's on the article you posted on the OP:

In its December approval of the most extensive tax-code revisions since 1986, Congress scrapped the previous international tax system for corporations -- an unusual arrangement that allowed companies to defer U.S. income taxes on foreign earnings until they returned the income to the U.S. That “deferral” provision led companies to stockpile an estimated $3.1 trillion offshore and many were criticized for the moves, including Apple.

By switching to a new system that’s designed to focus on domestic economic activity, congressional tax writers also imposed a two-tiered levy on that accumulated foreign income: Cash will be taxed at 15.5 percent, less liquid assets at 8 percent. Companies can pay over eight years.


Like I said, it's a tax holiday for accumulated foreign income. The only winners on this tax write off are Apple shareholders and the politicos that will get said money on their coffers in the next campaign.


Were you complaining or concerned about the country's debt when Obama was rolling out his shovel-ready jobs, $ in stimulus, Cash for Clunkers and whatever program they dreamed up? At least, we can see tangible results now in the stock market, data/numbers, and uptick in (future) jobs. I can also tell the difference from a year ago with the number of job emails for dh and when looking for intern jobs for ds (under Indeed "mechanical engineer intern") - shows up a lot more results than a year ago. The future is looking a little brighter but you are so underwhelmed by $350 billion in investment - it's like hoe-dee-hum-hum - just another day.

I am interested in the jobs (which is what such a huge investment [and hopefully more companies follow suit] will affect) - not what taxes the government gets - because very little is coming back to me. Other than keeping me safe (military), natural disasters (that local governments might not be able to handle and need outside help), and roads when I go on my yearly vacation, I'm not affected much by government - it's mostly I pay my taxes and file my return.


It's not my dogma telling me anything, it's my common sense/self-interest/human nature telling me that - after all, what is the use of working for something, if it's just going to be taken from you and given to someone else?


And please, must you sound so condescending? I took 4 eco classes in college - I don't need the economy explained to me. Regardless of what you say, I'm going to continue to vote and act in my and my kids' best future interests (and I don't think I'm alone in this sentiment whether individual or company) - which is the least taxes possible. If you are so enamored with the government getting what you consider their fair share, you are free to give them more of yours, but please keep your hands off mine.

As I repeated many times, I was (and I'm not) concerned about the debt because there's no signs of inflation. Heck, at the time, we had signs of deflation.

This idea that if the stock market is doing well, the economy is doing well, is another completely misguided take. The market actually went up 33% in the first 250 days of Obama as president, as opposed to 21% with Trump as president, which means it's an indicator of nothing really.

This isn't your 1970's market, where people actually invested long term in companies, companies got the funding to hire more and expand. Companies like Amazon, an incredible behemoth of our times has barely posted a quarter of profit or two in it's two decade of existence.

I'm not being condescending, I just look at your posts on this topic for a while now, and I have to guess you're either extremely clueless or incredibly hypocritical, tbh.

Being the swole guy I am, I choose to think you were just clueless (hey, it happens to all of us), and I genuinely tried to explain why we're all getting fucked except for these guys, including your children, and there's nothing to celebrate about this. Obviously, I guessed incorrectly, tbh.

After all, why don't you try calling the IRS in the next few days, and telling them that following's Mr Cook's advice, you're going to pay this year's taxes whenever you want, and at the rate you think it's fair? Come back to us with the response, tbh.

Wrapping this up, if you don't think you, me, your children, etc are the government, why do you think the debt or deficits matter? It's not your debt, right? It's the government...

[ElNono]

Oh, and I pay my taxes every year, like stand up citizens do. I don't really have a choice, when the penalty is jail. But I'm no Tim Cook, tbh

[Th'Pusher]

It's on the article you posted on the OP:

In its December approval of the most extensive tax-code revisions since 1986, Congress scrapped the previous international tax system for corporations -- an unusual arrangement that allowed companies to defer U.S. income taxes on foreign earnings until they returned the income to the U.S. That “deferral” provision led companies to stockpile an estimated $3.1 trillion offshore and many were criticized for the moves, including Apple.

By switching to a new system that’s designed to focus on domestic economic activity, congressional tax writers also imposed a two-tiered levy on that accumulated foreign income: Cash will be taxed at 15.5 percent, less liquid assets at 8 percent. Companies can pay over eight years.


Like I said, it's a tax holiday for accumulated foreign income. The only winners on this tax write off are Apple shareholders and the politicos that will get said money on their coffers in the next campaign.



As I repeated many times, I was (and I'm not) concerned about the debt because there's no signs of inflation. Heck, at the time, we had signs of deflation.

This idea that if the stock market is doing well, the economy is doing well, is another completely misguided take. The market actually went up 33% in the first 250 days of Obama as president, as opposed to 21% with Trump as president, which means it's an indicator of nothing really.

This isn't your 1970's market, where people actually invested long term in companies, companies got the funding to hire more and expand. Companies like Amazon, an incredible behemoth of our times has barely posted a quarter of profit or two in it's two decade of existence.

I'm not being condescending, I just look at your posts on this topic for a while now, and I have to guess you're either extremely clueless or incredibly hypocritical, tbh.

Being the swole guy I am, I choose to think you were just clueless (hey, it happens to all of us), and I genuinely tried to explain why we're all getting fucked except for these guys, including your children, and there's nothing to celebrate about this. Obviously, I guessed incorrectly, tbh.

After all, why don't you try calling the IRS in the next few days, and telling them that following's Mr Cook's advice, you're going to pay this year's taxes whenever you want, and at the rate you think it's fair? Come back to us with the response, tbh.

Wrapping this up, if you don't think you, me, your children, etc are the government, why do you think the debt or deficits matter? It's not your debt, right? It's the government...

You should ask DMC how he feels about the forced redistribution of wealth. That’ll be fun.

[rmt]

It's on the article you posted on the OP:

In its December approval of the most extensive tax-code revisions since 1986, Congress scrapped the previous international tax system for corporations -- an unusual arrangement that allowed companies to defer U.S. income taxes on foreign earnings until they returned the income to the U.S. That “deferral” provision led companies to stockpile an estimated $3.1 trillion offshore and many were criticized for the moves, including Apple.

By switching to a new system that’s designed to focus on domestic economic activity, congressional tax writers also imposed a two-tiered levy on that accumulated foreign income: Cash will be taxed at 15.5 percent, less liquid assets at 8 percent. Companies can pay over eight years.


Like I said, it's a tax holiday for accumulated foreign income. The only winners on this tax write off are Apple shareholders and the politicos that will get said money on their coffers in the next campaign.



As I repeated many times, I was (and I'm not) concerned about the debt because there's no signs of inflation. Heck, at the time, we had signs of deflation.

This idea that if the stock market is doing well, the economy is doing well, is another completely misguided take. The market actually went up 33% in the first 250 days of Obama as president, as opposed to 21% with Trump as president, which means it's an indicator of nothing really.

This isn't your 1970's market, where people actually invested long term in companies, companies got the funding to hire more and expand. Companies like Amazon, an incredible behemoth of our times has barely posted a quarter of profit or two in it's two decade of existence.

I'm not being condescending, I just look at your posts on this topic for a while now, and I have to guess you're either extremely clueless or incredibly hypocritical, tbh.

Being the swole guy I am, I choose to think you were just clueless (hey, it happens to all of us), and I genuinely tried to explain why we're all getting fucked except for these guys, including your children, and there's nothing to celebrate about this. Obviously, I guessed incorrectly, tbh.

After all, why don't you try calling the IRS in the next few days, and telling them that following's Mr Cook's advice, you're going to pay this year's taxes whenever you want, and at the rate you think it's fair? Come back to us with the response, tbh.

Wrapping this up, if you don't think you, me, your children, etc are the government, why do you think the debt or deficits matter? It's not your debt, right? It's the government...

I have already explained that it is far more difficult for there to be a gain in the market when it's high than when it's low.

Look, you may research what are good companies, earnings and what not - everyone is entitled to do what they think is best. My underlying philosophy is buy low, sell high. There is a reason Amazon stock is high - notwithstanding it's only one or two quarters of profit. I only have to see my own behavior trying to get away from Amazon and not being able to. People look at bit coin and think it's crazy because it's got nothing backing it but it has value in that people are willing to pay/buy it for $12k.

You can think I'm extremely clueless or incredibly hypocritical - I've been called far worse on this board - people can call me whatever.

Mr. Cook is doing his job - acting in the interest of his company and following the law as it NOW exists. And chances are, if you own any S&P 500 index fund, you're one of those Apple shareholders.

You still insist that we are the government - so what - we're "f*****g" ourselves? I don't consider myself the government, but I have no choice but to pay for their mismanagement, corruption and distribution of wealth (in taxes) since like you, I don't want to end up in jail. You can consider yourself the government (or anything you want) and so think that you're being cheated out of the taxes that this new law lowers.

[ElNono]

I have already explained that it is far more difficult for there to be a gain in the market when it's high than when it's low.

Look, you may research what are good companies, earnings and what not - everyone is entitled to do what they think is best. My underlying philosophy is buy low, sell high. There is a reason Amazon stock is high - notwithstanding it's only one or two quarters of profit. I only have to see my own behavior trying to get away from Amazon and not being able to. People look at bit coin and think it's crazy because it's got nothing backing it but it has value in that people are willing to pay/buy it for $12k.

You can think I'm extremely clueless or incredibly hypocritical - I've been called far worse on this board - people can call me whatever.

Mr. Cook is doing his job - acting in the interest of his company and following the law as it NOW exists. And chances are, if you own any S&P 500 index fund, you're one of those Apple shareholders.

You still insist that we are the government - so what - we're "f*****g" ourselves? I don't consider myself the government, but I have no choice but to pay for their mismanagement, corruption and distribution of wealth (in taxes) since like you, I don't want to end up in jail. You can consider yourself the government (or anything you want) and so think that you're being cheated out of the taxes that this new law lowers.

So the national debt doesn't affect you or your children, right? Since it's government debt, not your debt?

Something's gotta give here, either it's your debt or it's not. If it's not, then why are you worried about it?

[ElNono]

Basically, we just added a bunch of billions of dollars to the debt for 20,000 jobs (over 5 years, but let's pretend all happen right now). Even if we 'only' added $5b (let's pretend we don't have to pay interest on it, etc) to the national credit card, that comes to... $250,000 per job

Bargain, tbh

[ElNono]

The good news is that Apple stockholders probably won't need to be looking for a job anytime soon either, tbh... there's also that.

[Th'Pusher]

https://m.huffpost.com/us/entry/us_5a63ce41e4b0dc592a09697c

Paul Ryan collected $500k in Koch contentions after tax bill passed.

[boutons_deux]

https://m.huffpost.com/us/entry/us_5a63ce41e4b0dc592a09697c

Paul Ryan collected $500k in Koch contentions after tax bill passed.

yawn, just the oligarchy paying off their whores with pocket change

... is why Congress doesn't give a shit about voter preferences, while fulfilling all the preferences of the oligarchy, continuous confirmation of the the Princeton oligarchy study.

[Splits]

Jesus, EN giving rmt a painal ITT

[DMC]

At a personal level you can also vote to stop sending these guys over to DC. But what we can do personally doesn't preclude stating our opinions about something that's just plain wrong and fuck us all up. This is one of those, IMO.

it doesnt matter who I vote for. just a feel good move.

[ElNono]

it doesnt matter who I vote for. just a feel good move.

true, tbh, same here... but it is one of the few tools we have...

[Th'Pusher]

it doesnt matter who I vote for. just a feel good move.


true, tbh, same here... but it is one of the few tools we have...

Maybe you two should become community organizers.

[boutons_deux]

"This isn't about representation"

Bull fucking shit.

The oligarchy hired the Repug "representatives" to represent primarily, exclusively the oligarchy.

The oligarchy's Repug whores are now polluting the Federal judiciary with extreme right wing, pro-oligarchy judges, a pollution which make the Federal judiciary a SuperFund site for decades.