Interesting article in today's LA Times, commie pinko rag that it is...
Apple plans to repatriate an estimated 245 billion over the next 5 years. With that, they plan to invest 30 billion in the US to create 20,000 jobs, with about 1/3 of that going to data centers.
Kudos to Apple.
The article also notes:
During the election Trump was credited with stopping Carrier from moving jobs into Mexico by giving them a tax break. Carrier acquiesced, but between now and then most of those positions have been laid off anyway. Including 200 more this month.
Experts still expect that the money companies repatriate will mostly be used for acquisitions, mergers, stock buybacks, shareholder dividends, debt repayment, and expansions. Except for expansions, none of those benefit workers.
The last time companies were given freedom to repatriate money was in 2004 when congress offered a 5.25% tax rate on repatriated funds. That plan did not result in many new jobs as the majority of it went to shareholders.
Boo, hiss.
So there's some good signs, but still the experts have the expectation that the new tax rate will not really help many outside of corporate officers and shareholders. Methinks some companies are throwing Trump a bone to silence the critics, but again I'm just a skeptic who looks at past performances.
Time will tell.
But I still don't trust humans and their greed.
Apple plans to repatriate an estimated 245 billion over the next 5 years. With that, they plan to invest 30 billion in the US to create 20,000 jobs, with about 1/3 of that going to data centers.
Kudos to Apple.
The article also notes:
During the election Trump was credited with stopping Carrier from moving jobs into Mexico by giving them a tax break. Carrier acquiesced, but between now and then most of those positions have been laid off anyway. Including 200 more this month.
Experts still expect that the money companies repatriate will mostly be used for acquisitions, mergers, stock buybacks, shareholder dividends, debt repayment, and expansions. Except for expansions, none of those benefit workers.
The last time companies were given freedom to repatriate money was in 2004 when congress offered a 5.25% tax rate on repatriated funds. That plan did not result in many new jobs as the majority of it went to shareholders.
Boo, hiss.
So there's some good signs, but still the experts have the expectation that the new tax rate will not really help many outside of corporate officers and shareholders. Methinks some companies are throwing Trump a bone to silence the critics, but again I'm just a skeptic who looks at past performances.
Time will tell.
But I still don't trust humans and their greed.