Making America Great Again, with tax cuts

The left-wing are going to find it hard to make this news sound bad:

Apple on Wednesday made a slew of announcements about its investment in and contribution to the U.S. economy in part because of the new tax law.

The headline from Apple is that it will make a $350 billion “contribution” to the U.S. economy over the next five years, although it’s unclear exactly how the company came to that number.

The company also promised to create 20,000 new jobs and open a new campus.

It said it expects to pay about $38 billion in taxes for the horde of cash it plans to bring back to the United States. This implies it will repatriate virtually all of its $250 billion in overseas cash.

Apple also said it will spend over $30 billion in capital expenditures over the next five years. About $10 billion in capital expenditures will be investments in U.S. data centers, the company said.

Apple added that it will spend $5 billion as part of an innovation fund, up from the $1 billion CEO Tim Cook announced last year on CNBC’s “Mad Money.”

The job creation will include direct employment and also suppliers and its app business, which it had already planned to grow substantially (app developers earned $26.5 billion in 2017.) The new campus will focus on customer support.

Wednesday’s announcement indicates that Apple will still have hundreds of billions of dollars in cash. It could spend that money on buybacks, dividends or acquisitions or moonshot projects.

The announcement raises the bar for the world’s most valuable company — now a huge driver of the economy — to continue its dominance and growth in the wake of political pressure on big tech companies. The plan calls for Apple to keep up 2018’s $55 billion “supercycle” spending rate with domestic suppliers and manufacturers.

“We have a deep sense of responsibility to give back to our country and the people who help make our success possible,” Cook said in a statement.

The Democrats opposed the tax cuts and now they are paying dividends for both the economy and Donald Trump.

This is a perfect example of how governments can make a big difference, simply by creating the environment for businesses to grow in. Not subsidies, not by entering the market themselves, not by artificially raising wages with silly minimum wage rises, but by reducing costs to government.

Donald Trump really is making America great again with sensible business policies.

 

-CNBC

 


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story.  And when he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet.   Cam Slater doesn’t do quiet, and as a result he is a polarising, controversial but highly effective journalist that takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him.  But you can’t ignore him.

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