Apple CEO Tim Cook says the iPhone maker's repatriated profits will result in a $38 billion US tax payment and generate $350 billion in economic activity
WNU Editor: Just a side story, but it is very revealing that after Apple made public it's intention to repatriate back to the U.S. $350 billion from overseas... money that will be given as bonuses to its employees and the rest invested to create tens of thousands of jobs .... Apple To Repatriate $350 Billion From Overseas Back To The U.S. Economy (January 17, 2018) .... you then have this insane push from California lawmakers ..... ‘Time for middle class tax justice’: California corporate tax bill offsets Trump cuts (Sacramento Bee). In short .... these lawmakers want to grab a good chunk of the money that Apple wants to bring back to the country .... and they want to do it because they can.
5 comments:
"We are all Negan" - California Lawmakers
Wait. Apple's Headquarter is in silicon vallet, california.most products are designed there. Only fair they get a good share
"Wait. Apple's Headquarter is in silicon vallet, california.most products are designed there. Only fair they get a good share " - Anon
You are missing the whole point. Why I can guess from one of a few different reasons.
The Apple CEO knows what California's tax rate is. After all he has a CFO (Chief Financial Officer) who will tell him what the ramifications will be. The big dogs at Apple know what the federal and state tax rates are.
California Demoncrats want to add additional taxes on top of the one's they already have.
"Democratic Assemblymen Kevin McCarty of Sacramento and Phil Ting of San Francisco announced Thursday that they will pursue a constitutional amendment to add a surcharge on large companies that do business in California"
In the long run this will work as well as all the ssoda taxes Demoguecrats have enacted.
With telework companies do not have to be physically located near each other for synergy.
That is if it gets too onerous, because the one party California legislature goes too Negan on them, software companies can decamp to other state.
"The big dogs at Apple know what the federal and state tax rates are"
So does a guy with a high school degree and access to Wikipedia lol
Just pointing out that this latest Demoncrat move is just another grab for more monies.
The Dems are trying to run California like Venezuela. In 15 years they will succeed; they will be where Venezuela has been under Maduro.
The Dems really need the money because they have ran California so poorly and need the funds to paper over their misgovernance. PERIOD!
TRUE: California has the nation’s highest poverty rate, when factoring in cost-of-living
www.politifact.com/california/statements/2017/jan/20/chad-mayes/true-california-has-nations-highest-poverty-rate-w/
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