Increasing to $30 billion over the next five years including $10 billion allocated to data centers. Apple said it will repatriate overseas cash and deliver a record tax payment. That amount will be about $75 billion of its contribution to the U.S. economy. The repatriation tax payment will be about $38 billion. As for the U.S. Apple outlined the following: $10 billion will be allocated to data center investments across the U.S. The 20,000 new jobs will be due to hiring at existing campuses and opening a new one. Apple is breaking ground on a new facility in downtown Reno. The company is expanding its Advanced Manufacturing Fund from $1 billion to $5 billion. The fun aims to bolster American manufacturers. Apple will also invest in teaching students to code and programs focused on STEAM. Apple ended fiscal 2017 with $269 billion in cash, cash equivalents and marketable securities. http://www.zdnet.com/article/apple-expands-u-s-capital-spending-plans-to-add-20000-jobs-invest-in-data-centers/?loc=newsletter_large_thumb_related&ftag=TREc64629f&bhid=20488073700934301399675531064365
You do know this is basic propaganda right? Like of course they will say this. They desire tax cuts. They want to show the public there is merit to these tax cuts for the group of people who are already holding on to the most accumulated wealth in mankind history. If you are a corporate executive, you would do the exact same spin. You want the public to vote in legistlators that will do the your bidding. You do know that they would expand their products and services only if the market demands it right? If there is demand, they will invest. They will take out investment loans. You seriously think a company like Apple will stagnate growth if the market is asking for the opposite if they have a high tax burden? You actually think this? It's a dumb business decision to expand products and services without an incentive on the demand side to expand. And Tim Cook and Apple executives aren't dumb. Do you understand that capitalism is essentially a race to see who can dominant a market first? A company with immesne capital like Apple don't give a **** about their cash reserves when the expand. They want to expand into high demand markets as fast as possible. That's how industry works.
Poor @crash5179 This bit of propaganda was deconstructed over 12 hours before he made this post. https://slate.com/business/2018/01/no-apple-is-not-creating-20-000-jobs-because-of-the-tax-bill.html
https://www.cnbc.com/2018/01/17/few...savings-to-boost-wages-cnbc-survey-finds.html yes.... if companies like Apple that stashed their cash overseas suddenly get billions dumped on them... THEY WILL INVEST IT back in company growth. Yes... the tax bill impacts this notion drastically. No doubt about that. However.... the issue was NEVER that companies like Apple didn't have enough cash on hand. It was always about WAGE GROWTH & job growth opportunities in expanding small to mid sized companies. Where people see a bump in their paycheck is typically been when their company expands and they expand their roles & job titles with the company's growth. Other than some one-time bonuses, I just don't see the evidence that my paycheck will suddenly get bigger because large C-Corps like Apple have more cash on hand. Also wasn't Trump the president for small businesses? What does this tax bill do for them? I work for a growing 200 mil dollar mid-market company myself. Companies like mine are a prime example of whether the tax bill will give an opportunity to grow and expand, or if the tax bill will just give large C-Corp conglomerates like Apple to monopolize and starve us out further.
It's because Silicon Valley is a arms race to see who can dominate first in emerging markets such as ai and robotics.
I know, it’s all a giant conspiracy to fool everyone. You guys are so predictable with your propaganda cries.
Lol giant conspiracy? It's just Corporate executives saving face to the public. It's not some elaborate scheme dude. It's called lobbying. They have that power. We don't. You really aren't the brightest.
What... are you saying that DEMAND is what is driving a growing industry? No way. I thought it was supply side economics that grows industry and the economy. Just need to lower taxes and regulations on industries like coal and watch the growth take off.
Will have to wait and see if he can sustain this economy for seven more years. If not I guess we'll have to give all the credit to Oprah Winfrey
I just find it hilarous that you think corporations that already have the most accumulated wealth in corporation history need more money thrown at them to 'create jobs'.
So many liberal tears in this thread. Lol. Just sit back and enjoy a stronger economy as industries and corporations like Apple continue to reinvest in the US thanks largely to the reduction in corporate taxes. Everything in life is not some big conspiracy theory between the conservatives and corporate America like so many have claimed. As Tim Cook said, “Some of the things Apple announced they would have done anyway but a large portion is because of the corporate tax cut down to 21%. More jobs with better pay will make the economy stronger.
Lol, for something to be a conspiracy - it has to be secret. There's nothing secret about the quid pro quo of allowing Apple to evade billions and billions of taxes and then getting a "thx" press release. Again, nobody's ever going to convince a true believer like @crash5179 but I guess celebrating the successes of your financial betters is now the opiate of the poor (not including actual opiates)
There is no grand conspiracy theory. It's very simple. Companies like Apple and Comcast can throw campaign donations and lobbying influence at politicians. In return they get what they want but they understand that at face value, cutting tax revenue so a bunch of people who are already holding on to the most wealth in human history is a bad look as a company so for PR reasons they attribute any growth to tax cuts because they want to 'prove' to the common folk such as yourself "it works". That isn't a conspiracy. That is basic corporatism that both sides of the political spectrum are guilty of.
It was just over a year ago there were a few of you rabbling about how Trump would put us in a recession, and/or we'd being in a nuclear war with N Korea and we would be Russia's b****. Economy is great. Syria has cooled off. N. and S. Korea are now talking to each other. Some of you just need to admit how wrong you have been.
