Apple annouced today it will be repatriating $252B in overseas cash, paying $38B in repatriation taxes, creating 20,000 new jobs in the US, establishing a new US campus and likely a few US manufacuring centers as part of a $350B direct contribution to, and investment in the US economy.  The press release also cited the new 21% corporate tax rate.

Could there be a lesson in this for liberals who think they know macroeconomics?  All I can remember from the Obama years was Burger King moving to Canada to avoid US corporate tax rates and the deafening flapping sound of jobs taking flight from the US.  So yes, definitley a lesson.  Better take notes. 

selective memory

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"The truth is incontrovertible.
malice may attack it,
ignorance may deride it,
but in the end,
there it is." -Sir Winston Churchill

Burger King was acquired by Horton's a Canadian company. ( Burger King , really? all that happened what that the corporate administration moved , exceptionally lame example) you could have brought up the strange case of Carrier.

Strike 1

A tax reduction based on future potential revenue gain, also known as trickle down theory has been tried 2 times recently with zero success

Strike 2

Even the repugs have acknowledged that the federal deficit will increase due to this tax plan. Include any infrastructure rebuild and we crater by 2038 or so. It will take 20 more moves like the one from Apple to come close to replenishing the treasury.

Strike 3



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So if you are a surfer I wish you the prosperity that allows you more time to pursue the salt water dream, and the true happiness that comes from warm water, clean waves and the companionship of your fellow surfers. If you are an internet troll just spewing bs then f off.

All Zeus remembers is Obama caused him to have to switch from BK to Whack Donalds cuz he aint eatin no stinkin Canuck burger!

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I troll 2L.com to be a better person in real life

Siiilly seuss: as if you, or any of the slavish, sycophantic, clueless worshippers of the failed businessman, traitorous, doddering money launderer in chief know anything about economics.
Macro or otherwise. After over eight bankruptcies, (the last of which the russian putin sponsored mob bailed him out of) neither does your glorious genius little lord loofa.
Wanna know who does?
David Stockman. He invented trickle down for Reagan, and he calls this tax grab a giant scam.
And Michael Bloomberg, an ACTUAL billionare, founder of the Bllomberg report.
He calls it a trillion dollar blunder.
Apple lends the vatican and god money, nothing they do financially is going to be affected by anything little donnie and this current group of greedy so called "republicans" do. Period.
I'll post the articles on the subject by bloomberg, and stockman

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It's a democratic hoax

BK bought Hortons with the specific intent of moving their HQ to Canada.  Not the other way around.

the rest of these posts aren't worth a response

 

Even the repugs have acknowledged that the federal deficit will increase due to this tax plan.

In a 3+ percent economy. Any less and lookout.

It's cheaper to use American labor. It looks like the Republican master plan has worked; more for the top and let the bottom scramble. Are you guys still going to bitch about a $15.00 minimum wage or do you still side with Republicans and their drive for indentured workers?

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I was right.

Liar!

What's hysterical is that the democraps added 10 TRILLION dollars to our deficit and you didn't bat an eye lash!

Why is that?!?!


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The REAL truth is....both of the forum idiots are OWNED.
-BOTH of them have no clue who their owner is.
-They are both card carrying narcissists.
^These are PROVED facts.

Make hay while the sun shines. And figure out how to protect it. The Jubilee is coming.

Oh, I don't know, maybe Bush's broken economy, unfunded wars and total obstruction from Republicans had something to do with. To say Obama was solely complicit in the debt is just plain stupid.

There is one more thing I need to add about the new tax plan: They didn't close the loopholes. Many companies in the US didn't pay anything near 35%, hell, there is a large group that paid less than 20% and some of the mega corps paid next to nothing. What happens to the US if tax payments from ten of the largest corporations in the US totals up to zero? If that happens, the $1.5 trillion over ten years will sound like a good deal.

P.S> I much prefer debt that is created by helping the people.



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I was right.

Even Bush came correct after LEAHMAN went down. Stimulus, QE. Took some government intervention to prevent a much worse global financial melt down. It took over 15 years to recover from the Great Depression of the 30s ...( The preceding REPUG administration precipitated that one too. ) Took a Dem to pull us out of that one ( Roosevelt ) tOOK A Dem ( Obama) to pull us out of the most recent one.

Modern Repugs have railed on deficit reduction. Obama had turned the corner. The worst bunch of hypocritical scum bags have now turned tail on deficit reduction and are betting on that ridiculous trickle down theory.

Those that ignore history are doomed to repeat it.



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So if you are a surfer I wish you the prosperity that allows you more time to pursue the salt water dream, and the true happiness that comes from warm water, clean waves and the companionship of your fellow surfers. If you are an internet troll just spewing bs then f off.

Edited: 01/19/2018 at 11:52 AM by jdbman

Yo....MORON!

You do know that REAL economists have already spouted off on exactly what Trumps tax plan will do and what it won't do!

They DON'T agree with you!

Sorry!

You're full of shite!

FOOL!

-------------------------
The REAL truth is....both of the forum idiots are OWNED.
-BOTH of them have no clue who their owner is.
-They are both card carrying narcissists.
^These are PROVED facts.

It's the roaring 20's all over again! Pop the corks, the market will rise forever!

The stock market bubble and an unstable US government is a volatile combination. If it were to come out that the sitting president and his family had been laundering money for the russian mob and he has to be removed from office, it could spook world markets and the whole thing could implode.



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Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".

In a superfluously charged market, the big financial players(trumps bros what happened to drain the swamp I hate wallstreet?) have a hayday "making money off other people's money".

Then it tanks, the big boys already got theirs, and then they try to elect another "disrupt-er" to ride it again.

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I troll 2L.com to be a better person in real life

Why is it that no one ever equates the sub-prime lending crisis to what really  triggered it?  You see many people that entered into and ultimately defaulted on their home loans did so only because Clinton estabished the DPA Program.  This program gave people free money for home loan down payments that they couldn't otherwise afford or qualify for.  

Since these people were poor money managers in the first place many opted for ARMs, balloon payments and other such crappy loan terms.  A high defgree of default was therefore inevitable and it took until Bush's term to collapsealmost as if that were the plan.  Only those less intelligent didn't see the casue and effect, and blamed Bush when he had nothing to do with it.  The real damage was done when Obama bailed out the Wallstreet lenders who should have been allowed to fail for peddling known bad loans like they were hot potatoes. 

Ultimately Wallsteet profited and that explains the closeness of Hillary and Wallstreet during her failed run for the Whitehouse.  They were obviously plotting something nefarious again.

Thanks man! that explains trumps pick for treasury sec perfectly!

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"I remember South Africa in the late 70's, sleeping on the beach at J-bay, smoking ganja with the blacks. On weekends we'd go to the pub in East London to drink beer and fight with the Afrikaners. They liked to fight, I liked to fight. It was a good time"