Apple to pay 38B in taxes..create 20,000 new US jobs.......

[Bird Dog]

Apple: We'll pay $38B in taxes and add 20,000 jobs in the U.S.
http://money.cnn.com/2018/01/17/technology/business/apple-jobs-economy/index.html


Apple also informed employees worldwide on Wednesday that they would receive a $2,500 stock bonus in response to the new U.S. tax code, according to a source familiar with the matter. Bloomberg, which reported the news earlier, said the bonus would be available to employees below a certain senior level.

So much winning........

 

[Starman]

Apple: We'll pay $38B in taxes and add 20,000 jobs in the U.S.
http://money.cnn.com/2018/01/17/technology/business/apple-jobs-economy/index.html


Apple also informed employees worldwide on Wednesday that they would receive a $2,500 stock bonus in response to the new U.S. tax code, according to a source familiar with the matter. Bloomberg, which reported the news earlier, said the bonus would be available to employees below a certain senior level.

So much winning........

The hiring and CAPEX were going to happen anyway, regardless of the repatriation.

Nothing to see here.

 

[transporter]

What Apple is doing is great...but, as expected, it is the exception not the norm. (Apple also has the largest cash hoard on hand of any company ever in the history of time.)

Here is a more realistic view of the impact of the corporate tax cuts:

Despite a handful of high-profile announcements, the recent cuts in corporate taxes haven't yet had a meaningful impact on American companies' plans to boost investment or raise workers' pay, a CNBC survey of large companies found.

The Trump administration has estimated that the average American worker could see their annual wages grow by $4,000 as a result of the drop in corporate taxes.

So far, however, those pay increases have been few and far between. With a few exceptions, companies that have announced specific plans are offering one-time bonuses in place of permanent wage increases.

It's also unclear how smaller employers will deploy any savings from the new tax law. Roughly half of all American workers are employed by companies with payrolls of fewer than 500 workers, according to the Small Business Administration.

Proponents of the tax law argue that lower taxes will help smaller companies boost wages as they compete to hire workers in a tight labor market. Yet some economists, including Joel Naroff, chief economist at Naroff Economic Advisors, doubt that most small businesses will see a big enough windfall to pass those savings along to workers.

"That means the bonus and minimum wage announcements make for good PR, but not necessarily strong income gains for workers," he said.

https://www.cnbc.com/2018/01/17/few...savings-to-boost-wages-cnbc-survey-finds.html

 

[transporter]

And then there is this one:

In our national survey, roughly two-thirds of respondents indicated that the tax reform hasn't enticed them into changing their investment plans for 2018...

For our regional BIE survey, the capital investment results were similar (you can see them here). And as for hiring, the typical firm doesn't appear to be changing its plans. Interestingly, here too, smaller firms were more likely to say they'd ramp up hiring. Among larger firms (more than 100 employees), nearly 70 percent indicated that they'd leave their hiring plans unchanged.

http://macroblog.typepad.com/macroblog/2018/01/what-businesses-said-about-tax-reform.html

 

[transporter]

Then of course there was the informal survey done by Sec. Mnuchin in a room full of CEOs who, when asked, would not commit to increased hiring, spending or wages.

So, yes, the Apple news was good news. (Apple announce before the bill was passed that they would do something like this by the way.) But the overall news is what everyone told you it would be.

 

[GURPS]

Apple’s $38 billion tax commitment is the largest such sum announced in response to the major overhaul of the U.S. tax code that President Donald Trump signed into law late last year. That law included an incentive for U.S. companies to bring home offshore holdings, with companies required to pay a one-time tax of 15.5% on overseas profits held in cash and other liquid assets.

U.S. companies have long pushed for such a change to enable them to repatriate overseas cash without what they considered an excessive tax hit. Apple on Wednesday cited the tax changes as the reason for its $38 billion payment. It didn’t say how much of its $252.3 billion in overseas cash holdings it plans to bring home, though it will be the vast majority, Chief Executive Tim Cook told ABC News in an interview.

All told, Apple said it would directly contribute $350 billion to the U.S. economy over the next five years, with the bulk—about $55 billion this year, for example—coming from ongoing spending on parts and services from U.S. suppliers. That number also includes the federal tax payment and capital spending.

Mr. Cook touted the plans as building on Apple’s support for the U.S. economy. “We have a deep sense of responsibility to give back to our country and the people who help make our success possible,” he said in a statement.


https://www.wsj.com/articles/apple-...atriation-tax-plans-new-u-s-campus-1516215419

 

[GURPS]

The hiring and CAPEX were going to happen anyway, regardless of the repatriation.

Nothing to see here.

proof

 

[Starman]

proof

It's right in the FREAKING ARTICLE YOU JUST POSTED.

Did you even read it?

 

[GURPS]

Apple: Get ready for our $350 billion US investment — thanks to tax reform


When companies like Wal-Mart and Target announced bonuses and wage increases, Pelosi and other Democrats had zero compunction about attacking both the benefits and their motives. They sniffed that $2000 was mere “crumbs” and that retailers like Wal-Mart should have paid a “living wage” long before now. Lost in those snobbish and dismissive remarks were any discussion as to what might have been holding back those employers from doing so, of course, and the Left’s long campaign against Wal-Mart made it easy to demonize and dismiss them.

That’s what makes this announcement by Apple particularly golden and delicious. Not only do they have a reputation for wokeness and hipness, they’ve also been more or less hostile to the Trump administration since before it arrived. Remember when CEO Tim Cook sent an emergency message to his employees after Donald Trump won the election? That came just a few months after Apple pulled its donation to the Republican convention over Trump’s remarks on a range of topics. Cook also felt compelled to message his employees over Trump’s remarks about the riot in Charlottesville. It’s been clear that Cook hasn’t much use for Trump, and especially that he wants to be seen as not having much use for Trump.

It's right in the FREAKING ARTICLE YOU JUST POSTED.

Did you even read it?

I must have missed the part where the CAPEX was previously planned before the Tax Cuts were announced .... that was YOUR Claim, right ?

 

[Starman]

I must have missed the part where the CAPEX was previously planned before the Tax Cuts were announced

I reckon so. :shrug:

 

[GURPS]

In our national survey, roughly two-thirds of respondents indicated that the tax reform hasn't enticed them into changing their investment plans for 2018...

so on the other hand 1/3 are enticed to make changes ?

 

[GURPS]

I reckon so. :shrug:

well you made the claim ... link up the Apple Press Release made PRIOR to the Tax Cut Announcements


all I saw was this :

Apple has faced criticism over the past decade for overseas manufacturing of its iPhones, of which it has sold more than one billion, rather than making them domestically. Mr. Trump during the presidential campaign blasted the company for outsourcing. He later called on Apple to build a factory in the U.S. and last year said Mr. Cook promised to build three plants in the U.S. Apple also has been the poster child for parking overseas profits offshore, and U.S. lawmakers and others have claimed the company sought to avoid U.S. and international taxes—a criticism Apple has strongly rejected.

Apple has responded over the past year by pointing to its spending on procurement in the U.S. and to the size of the so-called app economy spawned by the iPhone, which the company says has created more than 1.6 million U.S. jobs.

 

[Bird Dog]

It's right in the FREAKING ARTICLE YOU JUST POSTED.

Did you even read it?

I read it again, help me out.

All corps have hiring and CAPEX plans. Apple changed theirs due to the new tax law.
The $2,500 bonus to all employees wasn’t in any of their plans and it is in direct response to the tax law.