Apple Inc

[spence]

Originally Posted by nightfighter

Who is to say that there isn't more than the 252 billion that will be repatriated and should have been taxed all along?

Here's the rub, this overseas money is tied up in investments earning returns...it's not cash they're bringing back to the US. They can pay the taxes and have flexibility in the future but there's no guarantee any of it will be spent domestically.

[scottw]

Originally Posted by spence

They can pay the taxes and have flexibility in the future but there's no guarantee any of it will be spent domestically.

Apple is giving its employees a $2,500 bonus
bringing $250 billion in cash that is currently overseas, back to the US
paying $38 billion in taxes on that cash
investing $30 billion in the US to create 20,000 jobs
matching employee charitable donations 2-to-1

is that not "domestically"?

[Jim in CT]

Originally Posted by scottw

Apple is giving its employees a $2,500 bonus
bringing $250 billion in cash that is currently overseas, back to the US
paying $38 billion in taxes on that cash
investing $30 billion in the US to create 20,000 jobs
matching employee charitable donations 2-to-1

is that not "domestically"?

It’s unbelieveable. The ability to deny that which doesn’t serve your personal agenda. A huge tax hit, bonuses, new jobs. None of that amounts to domestic spending.
Posted from my iPhone/Mobile device

[nightfighter]

[QUOTE=Jim in CT;1135581]It’s unbelieveable. The ability to deny that which doesn’t serve your personal agenda. A huge tax hit, bonuses, new jobs. None of that amounts to domestic spending.
Posted from my iPhone/Mobile device[/QUOTE

A huge tax hit??? That is laughable.... It is roughly 15%.
The statutory corporate tax rate has gradually been reduced from over 50 percent in the 1950s to its current 35 percent. So who made out????

[Jim in CT]

[QUOTE=nightfighter;1135588]

Originally Posted by Jim in CT

It’s unbelieveable. The ability to deny that which doesn’t serve your personal agenda. A huge tax hit, bonuses, new jobs. None of that amounts to domestic spending.
Posted from my iPhone/Mobile device[/QUOTE

A huge tax hit??? That is laughable.... It is roughly 15%.
The statutory corporate tax rate has gradually been reduced from over 50 percent in the 1950s to its current 35 percent. So who made out????

It’s 38 billion that can be used to help people.
Posted from my iPhone/Mobile device

[nightfighter]

[QUOTE=Jim in CT;1135605]

Originally Posted by nightfighter

It’s 38 billion that can be used to help people.
Posted from my iPhone/Mobile device

My point is $87.5 billion (which is the 35% tax on $250 bilion) could help a lot more..... and build a wall too. This money could have been helping people during Clinton's, Bush's and Obama's administrations if it had been paid when due, instead of being diverted to Ireland and then the tax haven island of Jersey....

[Jim in CT]

[QUOTE=nightfighter;1135608]

Originally Posted by Jim in CT

My point is $87.5 billion (which is the 35% tax on $250 bilion) could help a lot more..... and build a wall too. This money could have been helping people during Clinton's, Bush's and Obama's administrations if it had been paid when due, instead of being diverted to Ireland and then the tax haven island of Jersey....

Yes, and we could also help more people if you paid a lot more taxes than you owe. But you don't. No one does.


If I owned a company, and I could legally minimize my taxes by moving money elsewhere, I would. So would you. How stupid would one have to be, to pay billions more in taxes than one has to?

W had an uncompetitive corporate tax rate. When you make stupid public policy, sometimes there are negative results. I'm not saying the GOP is perfect. I'm not even saying that the tax overhaul will necessarily prove to be a good thing. I'm saying that because of that tax overhaul, and only because of that tax overhaul, we will have 38 billion more to do some good with.

[spence]

Originally Posted by scottw

is that not "domestically"?

I never said they weren't going to invest more here or that it would be a bad thing. Just some of the numbers are misleading.

[Jim in CT]

Originally Posted by spence

Here's the rub, this overseas money is tied up in investments earning returns...it's not cash they're bringing back to the US. They can pay the taxes and have flexibility in the future but there's no guarantee any of it will be spent domestically.

So you want to pass a law mandating that they spend it domestically?

Apple said there were creating 20,000 jobs in the us. That qualifies as domestic spending.
Posted from my iPhone/Mobile device

[nightfighter]

Originally Posted by spence

Here's the rub, this overseas money is tied up in investments earning returns...it's not cash they're bringing back to the US. They can pay the taxes and have flexibility in the future but there's no guarantee any of it will be spent domestically.

No, the rub is that it is all pre-tax monies.... So in my view it is all dirty, comingled, and investments should be liquidated as a condition of clearing their liability.

[spence]

Originally Posted by nightfighter

No, the rub is that it is all pre-tax monies.... So in my view it is all dirty, comingled, and investments should be liquidated as a condition of clearing their liability.

Hard to enforce that when their actions appear to be legal. But co-mingled...yes.