Will Apple Repatriate Profits?

probably belongs in the OT but

Apple has announced significant investment in the US that at least half of is do to the tax plan.  If Apple's CEO was telling the real truth he would say its 100% due to that but he doesn't want in the Tech world which is very liberal to appear to be giving Trump props.  

The taxing of the profits brought back is going to go a long way to offset that deficit.  All that Billions in investment causes more taxes being generated both from corp profits and wages to workers.  Trickle down for individuals has a mixed bag of results but spurring increases in business investment is a proven tried and true way of generating a bigger economy and  more tax receipts. This is going to work in spades and all those deficit projections don't have this impact in them.

Z wrote

Apple has announced significant investment in the US that at least half of is do to the tax plan.  

So in a month after a bill is passed they come up with a multi-billion dollar capital spending plan?  Really?

Z wrote

The taxing of the profits brought back is going to go a long way to offset that deficit.  All that Billions in investment causes more taxes being generated both from corp profits and wages to workers.

That's just more of the magical thinking of tax cuts cause revenue increases.    

Z wrote

Trickle down for individuals...

Don't make me laugh.  

The real truth is that GOPs don't really care about anything except tax cuts for rich people. All the talk about abortion and guns and the deficit is just BS to get the votes of religious nuts and survivalists.  Sadly, I'm not rich enough to be a Republican, so it doesn't do anything for me.

mm

Z wrote

probably belongs in the OT but

Some smart person figure out what this discussion is really about, and post a new thread thread in the OT.  Comments about the UMP still welcome here.

Harvey wrote

 

Some smart person figure out what this discussion is really about

Whew, that leaves me out

It's hard being this darn good lookin tho

Milo Maltbie wrote

 Sadly, I'm not rich enough to be a Republican, so it doesn't do anything for me.

mm

 or smart enough either  

That was clever, but apparently I'm too educated to be a Republican:


mm

Coach and Milo Maltbie need a time out

Keep that political BS in the OT please


I'm just happy as hell you don't have to wait to sit at the damn bar ---- could you imagine that!?

So milo please explain how the tax law that has Apple bringing hundreds of billions back to the US, paying $38 billion in tax that never would have entered the treasury under Clinton, creating 20k extra new jobs over 5 years is a bad thing.  Multiply this by thousands of companies and we are talking Trillions in inflows to our economy and historic amounts of investments in the economy.

Libersals are totally clueless on all matters economic and you are proving to be the village idiot.  In a yr every dem in Congress will be running away from voting against the tax bill.  I dont like Trump and didn’t vote for him but this tax law is a is a grand slam and is the reason our retirement actts all have gone up so much the past yr.

Z wrote

Libersals are totally clueless

Hey at least you can let em rip now in the OT.

How'd I do naming this thread?

In my clueless opinion I don't think the market knew what trump was going to do the last 12 months. I believe this long in the tooth rally has been extended because, many businesses may have assumed it would include less regulation or checks on business.  I wonder how the markets knew trump would get his tax bill passed, it was a razor thing margin.

Also one other point, half America owns no stock. So the definition of "us" (or our retirement accounts) is important.

Z wrote

So milo please explain how the tax law that has Apple bringing hundreds of billions back to the US, paying $38 billion in tax that never would have entered the treasury under Clinton, creating 20k extra new jobs over 5 years is a bad thing.  Multiply this by thousands of companies and we are talking Trillions in inflows to our economy and historic amounts of investments in the economy.

You seem to think all those things are certainties, but they are not.  A lot of money will be repatriated, but it is not clear how much or whether the tax revenue raised will offset the revenue losses that are certain to occur.  No one knows how much this new law affected Apple's investment plans.  No one knows what tax law a different president might have signed.  As Harvey noted, only about half of Americans own stocks, and a large fraction of stocks are owned by foreigners, so a run up in the stock market is not something that benefits all Americans.  We believe wealth creation eventually leads to widespread prosperity in the long term, but the key words there are "long term."  There is not much evidence of widespread prosperity in the US in the last 30 years or so, and in any event corporate profits and capital formation are not currently a problem in the US economy.  We know that because, among other things, interest rates remain low.  Whether the uncertain effects of lower corporate taxes will be more beneficial than the certainty that public debt will increase be maybe a TRILLION dollars is an empirical question, and the answer will only be known in the future.

Of course, you are satisfied that debt is no longer a problem because tax cuts, which is all that Republicans really care about.  Your unwillingness to even consider the possibility of an uncertain future is the mark of a stupid person.

mm
 

Milo Maltbie wrote

money will be repatriated

So I got the title right?

Z wrote

So milo please explain how the tax law that has Apple bringing hundreds of billions back to the US, paying $38 billion in tax that never would have entered the treasury under Clinton, creating 20k extra new jobs over 5 years is a bad thing.  Multiply this by thousands of companies and we are talking Trillions in inflows to our economy and historic amounts of investments in the economy.

Libersals are totally clueless on all matters economic and you are proving to be the village idiot.  In a yr every dem in Congress will be running away from voting against the tax bill.  I dont like Trump and didn’t vote for him but this tax law is a is a grand slam and is the reason our retirement actts all have gone up so much the past yr.

Read this:  http://www.latimes.com/business/hiltzik/la-fi-hiltzik-apple-tax-20180122-story.html

CEO's of major corporations know exactly how easy it is to manipulate Trump. All he gives a shit about is their praise. They flatter him, and he will do whatever they want.

The changes in the tax laws will result in the rich getting much richer. The average U.S. worker will gain little to nothing.

Oh, as for the great market gains under Trump: 1 - the market was making records highs when he came into office, and 2 - his first year still lagged behind the gains in Obama and Bush 1's first years in office. But Trump supporters can't be bothered with stuff like reading, or facts.

https://www.nytimes.com/interactive/2018/01/05/business/trump-first-year.html

China 🇨🇳 downgraded our credit rating to BBB+, citing tax cut bill as part of reason.  Less money coming in, less money to pay bills.

Who's economy is it now? When O-man was in it seemed everyone said it wasn't his. Is it his now?? If so I'd like to thank him because I just came off the best year my company has ever had.

Z wrote

.  I dont like Trump and didn’t vote for him but this tax law is a is a grand slam and is the reason our retirement actts all have gone up so much the past yr.

This is frickin crazy. Is Z gonna come back and say that Trump is the reason for the current stock market swoon, too? Live by the sword, die by the sword, right?

The stock market at this point seems to be a method of legalized gambling and a measure of how employers can screw their workers. Giving workers raises? Stock takes a hit. Laying people off? Stock rises.

Companies have been milking middle class people for all of their money so they can pay their CEOs and shareholders. It has worked so well that middle class people don't have any money anymore.

Credit card debt is hitting new highs (I wonder if it has to do with Trump voters expecting the huge windfall in tax savings that Trump & the Koch brothers are getting):

http://www.businessinsider.com/consumer-credit-debt-rises-in-november-2018-1

Savings rate is getting close to a new low:

https://www.bloomberg.com/news/articles/2018-01-26/why-the-savings-rate-is-a-reason-to-worry-about-2018-u-s-growth

As soon as the GOP Medicaid changes start hitting these rural Trump voters, there are going to be a lot of people in this country scrounging for cash, sitting on a bunch of rusty cars in their yards, tons of now useless electronics, and bunches of pieces of plastic from China.

This gave me a chuckle...


So my check went up $70 and I upped my 401k contribution by the same amount.  Not sure what the significance of that is.

LOL -- me too!

Harvey wrote

So my check went up $70 and I upped my 401k contribution by the same amount.  Not sure what the significance of that is.

Assuming you earn 10% per year on your 401k (it will go back toward long term average eventually), and you make an additional $70 contribution per week for the next 10 years, you will have about $14,500 more than if you didn't make that $70 contribution.

Not too much to get excited about.

Just like all these companies offering employees $1000 bonuses, claiming it's due to the tax break. That's $19.23 per week. Taxed at a higher rate than regular pay. It's not going to change anyone's world, but Trump supporters are suckers and they think it's awesome. Just like they think the stock market run was because of Trump (but oddly enough they don't give Obama credit for the even bigger stock market run his first year).

Rich getting richer. Middle class moving down the ladder. Poor staying poor.

Smoke and mirrors.

I wasn't really asking "what will be the impact on my retirement" nest egg or whatever. I was wondering impact on the economy...

If you give money to the poor or the working poor or the lower middle class, you know they will spend it.

If you give the money to the wealthy they will... pocket it or ... ?

If you give money to me personally and I have enough to get by, I will raise my retirement savings. In 2015 my salary was restored to the level of 2008 when I got a 20% pay cut. Last year I got my first real raise since 2008. This is the first yaer when I haven't had to draw from "savings" to pay bills in winter.  (Hmm I wonder why winter is the most expensive :)

When I got my Trump bump, I saved it.  Was wondering if anyone else would do the same, and if so what the impact would be.

BTW not sure how you did your math, but I am OLD (59) and get paid weekly.  Hope to retire at 65.