ON THE RADIO: Apple-gates Open Let The Flood Begin
Apple, the big and valuable company that liberals love, has announced that it will bring much of its off shore profits into the country.
Apple will pay a hefty $38 billion in taxes on over $250 billion in offshore cash from profits they earned by doing business in other countries. Apple has said they will use that cash to grow its investments in the USA which means building plants and a 2nd head quarters which in turn will lead to thousands of new jobs here in the USA.
But if you listen to the left, you would think that Apple was hoarding their cash due to their tax break given under the new tax law. Apple would not share its new found windfall.
But Apple, along with over 100 large companies, has announced that all of their US employees will get a bonus as well because of the tax cut. Employees will get Apple stock worth about $2500. Now we all know that Apple stock is worth more than that and that it will grow and grow fast.
So its a bonus that could mean a huge windfall for the employee in about 5 years or so. I guess that is crumbs according to Pelosi.
Wall Street Journal: Apple To Pay $38 Billion In Taxes On Cash Overseas, Build New US Campus