• Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.
  • We have made minor adjustments to how the search bar works on ResetEra. You can read about the changes here.

Lime

Banned for use of an alt account
Banned
Oct 25, 2017
1,266
https://www.vox.com/policy-and-politics/2017/12/8/16746034/apple-gop-tax-bill

Richard Waters and Tom Braithwaite at the Financial Times ran the numbers yesterday and found that the Republican tax plan's largest single winner is going to be Apple, which stands to reap a windfall of about $47 billion. For a sense of scale, that would cover four years' worth of the federal tab for the Children's Health Insurance Program which provides coverage to 9 million kids but is currently on hiatus since congressional Republicans say they can't find the money.

What's particularly striking about this windfall is that though Apple has been a fierce advocate for corporate tax reform — $47 billion is a lot of money after all — Apple CEO Tim Cook has explained over and over again that shoveling billions into his corporate treasury won't boost his investment spending.

Interest rates are low these days, and interest payments are tax deductible — and Apple keeps a lot of its balance sheet cash on the books of subsidiaries incorporated in offshore tax havens. Apple's cash-management game is to bide its time until it gets a tax windfall (i.e., soon, if Republicans get their way) and then kick the windfall out to shareholders in the form of dividends or buybacks. It's an important part of their overall corporate strategy, but it has nothing to do with investment.

 
Oct 27, 2017
3,902
Portland, OR
$47 billion that they can then reinvest into competitive bonus packages to retain top talent at the executive level. Think of all the jobs that will open up as a handful of executives suddenly find themselves needing new yachts and jets?
 

Chamaeleonx

Banned
Oct 27, 2017
2,348
Seems fair, they are really struggling currently
Yes, the poor people at the top of Apple really need this money infusion to stay alive. =/

Honestly, I already think Apple has to much cash and especially the jobs they contribute will get reduced with automation eventually. Therefore they will earn even more while also employing less people. =/
 

KHarvey16

Banned
Oct 27, 2017
9,193
Is this a "cut" in the sense Apple won't be taxed on repatriation of profits it makes overseas that it wasn't going to bring back unless the rules on that changed anyway?
 

Chekhonte

User banned for use of an alt-account
Banned
Oct 31, 2017
1,886
That should stack up nicely with the 300 billion they have in off shore accounts according to the paradise papers.
 

CreepingFear

Banned
Oct 27, 2017
16,766
Yep, we really need to get rid of social security and medicare to help the great innovators over at Apple. It's what Jesus would have wanted.
 

GrizzleBoy

Banned
Oct 25, 2017
2,762
Its okay.

All the people who were forced to vote for Donald Trump due to economic anxiety will simply turn on him.
 

Greg NYC3

Member
Oct 26, 2017
12,498
Miami
Quick, someone let Paul Ryan know. Maybe he can buy some Apple stock to offset those Medicare/Medicaid deficits.
 

gruenel

Member
Oct 27, 2017
116
$47 billion that could be spent on education, healthcare or infrastructure. Think about what could be done with this amount of money. Instead it will rot on offshore bank accounts. SMH
 

Snake Eater

Attempted to circumvent ban with alt account
Banned
Oct 27, 2017
11,385
There are going to be some mighty fine bonuses given out in the future

the trickle is going to be glorious
 

Username1198

The Fallen
Oct 27, 2017
8,128
Space, Man
Poor people should pay less, rich people and corporations should pay more. But it's the other way around. How's this fair?

Edit hngghhhhhhh that trickle down money......get in my belly
 

BriGuy

Banned
Oct 27, 2017
4,275
Sad state of affairs, but we'll still have 100 pages of "OMG sexy!" iPhone XI hype in eight months.
 

WedgeX

Member
Oct 27, 2017
13,228
A tax cut to a company that does not even manufacture its own goods in the United States?

Sounds about right.
 
Oct 25, 2017
5,542
Easiest way to generate internet anger: Add Apple to the headline.

Public companies don't owe you shit. They work for stockholders and themselves. They aren't going to actively give money away because it's the morally right thing to do.
 

Brera

Banned
Oct 27, 2017
441
Tim Cook likes to act the good guy.

But he's stealing literally candy from babies.

Time Crook is just a Trump Toady!
 

KHarvey16

Banned
Oct 27, 2017
9,193
Here's Tim Cook's quote they cite in the article:

I actually think comprehensive tax reform is so important to this economy. If you think about it, what many, many companies now sell globally. If you sell globally, you earn money globally. If you earn money globally, you don't — you can't bring it back into the United States unless you pay 35 percent plus your state tax. And you look at this and you go, "This is kind of bizarre." You want people to use this money in the United States to invest more. We are in a good position, but an unusual one. Our good position is we can borrow. And so to invest in the United States, we have to borrow. This doesn't make sense on a broad basis, and so I think the administration you saw that they're really getting this, and want to bring this back. And I hope that that comes to pass.

This is related to the tax applied to money made overseas by US companies that gets taxed when those companies bring it back into the US.
 

Mr.Mike

Member
Oct 25, 2017
1,677
That companies themselves wouldn't re-invest money saved from tax cuts is a weak refutation of the claim that tax cuts would increase investments. As mentioned in the article, the plan would be to return the money to shareholders. What the shareholders would then do with the money isn't certain, but it is entirely reasonable to expect that much of it would be re-invested in some other venture.
 

Parch

Member
Nov 6, 2017
7,980
At least Gates gives away his Microsoft money. Tax bill means more philanthropy for him.

I assume Apple execs peel off a few bucks too just to make it seem like they give a shit. You know, so the little people don't get the wrong impression.
 

Brera

Banned
Oct 27, 2017
441
At least Gates gives away his Microsoft money. Tax bill means more philanthropy for him.

I assume Apple execs peel off a few bucks too just to make it seem like they give a shit. You know, so the little people don't get the wrong impression.

This is the ironic bit.

Big Bill was always painted as the bad guy. M$ ended up being a force for good.

Apple is just greed to me.
 

Dr. Dre's Dr.

Banned
Oct 27, 2017
976
Just to be more evil they should do this.
1.buy a ton of bit coin.
2.announce they will begin accepting bit coin
3. Let bit coin sky rocket
4. Sell bit coin
5. Be like nah changed our mind
6. Bit coin crashes
7. Go to step 1
 

Thisman

Banned
Oct 25, 2017
2,841
Apple gets the tax cut and the receiver of the tax cut is evil. Apple is only getting that amount because they earn the most. The tax cut proportionally is the same for amazon, google , Oracle etc etc but no one seems to care that all other big tech companies got same proportional cut, let's make it about the biggest one and single them as evil. If we go by fairly, every single successful us company is evil by this definition and we should stop using them
 

LGHT_TRSN

Member
Oct 25, 2017
7,146
Easiest way to generate internet anger: Add Apple to the headline.

Public companies don't owe you shit. They work for stockholders and themselves. They aren't going to actively give money away because it's the morally right thing to do.

Apparently it's also the easiest way to get people to defend companies hiding billions of dollars because they make gud phones.
 

Thisman

Banned
Oct 25, 2017
2,841
Apparently it's also the easiest way to get people to defend companies hiding billions of dollars because they make gud phones.

You mean every major tech company in existence in US that you you also own a product of proudly. Same story for each company and each complaining individual

This is the ironic bit.

Big Bill was always painted as the bad guy. M$ ended up being a force for good.

Apple is just greed to me.

Which phone do you use
 

LGHT_TRSN

Member
Oct 25, 2017
7,146
You mean every major tech company in existence in US that you you also own a product of proudly. Same story for each company and each complaining individual

Correct, all of these tech companies pretend to be bastions of progress and equality while secretly pushing GOP tax agendas so they can harbor more of their money and profit their shareholders. Fuck 'em all. We shouldn't be defending any of them with "well others do it so..."
 

TheWickedSoul

Member
Oct 26, 2017
1,156
Hey Apple, I'll switch to iPhone and shill for you if you give some of that cash you ain't using.

Pretty gross companies will get this kind of tax cut.
 

Dierce

Member
Oct 27, 2017
3,993
That 47 billion should have gone to pay for education, universal healthcare and provide food for millions. Apple won't be hiring any more people than they have to. Anyone who believes in trickle down bullshit is a fraud and it shames me that as a country we keep falling for this same delusion each time.

Those poor rural people with unrealistic dreams of grandeur who keep voting for republicans. They are truly mentally ill.