The Donald keeps on winning, page-2

First 2 Last

Share
Profile

Follow
nickyjames

22,698 Posts.

7

26/01/18

14:42

Post #: 30591829
Share

Originally posted by pints ↑

Apple’s announcement on Wednesday that it will repatriate most of the estimated $274 billion that it holds in offshore earnings is great news for the United States. Uncle Sam will get a one-time $38 billion tax payment. The company promises to add 20,000 jobs to its U.S. work force, a 24 percent increase, and build a new campus. Another $5 billion will go toward a fund for advanced manufacturing in America.
C’mon. What’s with the long face?
In December this column warned that hysterical opposition to the Republican tax bill was a fool’s game for Democrats that could only help Donald Trump. Yes, there were things to dislike in the legislation, from both a liberal and a conservative perspective.
But it was not the moral and fiscal apocalypse its critics claimed. And its central achievement — a dramatic cut in corporate rates to 21 percent from 35 percent — was an economic no-brainer that many Democrats, including President Obama, had supported (albeit less steeply) just a few years ago.
Apple will not be the only multinational that will soon bring back gigantic profits to take advantage of new low repatriation rates. Microsoft holds $146 billion in overseas earnings, Pfizer $178 billion, General Electric $82 billion, Alphabet $78 billion, and Cisco $71 billion, according to estimates from the Zion Research Group. The total stash is about $3 trillion — by one measure nearly three times what it was just a decade ago.
Assume that just half of that money comes home to the United States. It’s still the equivalent of Canada’s entire gross domestic product. Not too shabby, especially considering all the hyperbolic predictions of economic doom that went with Trump’s election.

Expand

I am old enough to remember the days @Chuck used to continually ask “are we winning yet”. That was a long time ago and the curious mr Chuck ain’t so curious any more.
11 Upvote

Reply

Top Stories

Week 28 Wrap: Tariff chaos back for some reason; CBA holds strong

ILU

Rare earths stocks surge as Pentagon buys big stake in US REE miner

Trump just dropped a 200% tariff bomb. Here's how to cash in

HotCopper Highlights: RIP to Botanix (for now); Droneshield new ATH; Trigg mystery halt

VMM

'Big tick': Viridis positions for global leadership with Colossus pre-feasibility study

Listen: HotCopper Wire Podcast 017 – RBA holds the toppings

AII

Inside the depths of Panasqueira: A legacy carved in rock

CWX

Carawine faces Fraser Range JV collapse as IGO moves to scrap partnership

LIS

'Opens doors': Li-S Energy the first Oz company to produce lithium metal foils

AAU

Antilles brings Chinese ally on board to keep Neuva Sabana work chugging on