Tax reform is already working

[drudixon]

*** just brought its money home. 5.5bn in taxes the USA would have never seen under Obama. The USA will have record receipts in 2018. Our company plans numerous capital improvement projects in the US as well.

We're just one of many companies to do this.

Obama economic policies are complete fail sauce, and his celebrity fan boys thinking this tax reform was bad, need to think again.

PS Walmart employees are already enjoying their raises.

[mtpockets]

*** just brought its money home. 5.5bn in taxes the USA would have never seen under Obama. The USA will have record receipts in 2018. Our company plans numerous capital improvement projects in the US as well.

We're just one of many companies to do this.

Obama economic policies are complete fail sauce, and his celebrity fan boys thinking this tax reform was bad, need to think again.

PS Walmart employees are already enjoying their raises.

[thomashenry]

https://www.zerohedge.com/news/2018-...-creation-plan

And Apple Employees received 2500.00 Bonus

Also this Moron Governor of NY, Guys a total Buzzkill.............https://www.zerohedge.com/news/2018-...irness-fix-tax

[Brackneyc]

Crumbs. Until you hit a net worth of 90mil, you’ll never understand.

[Karl_Hungus]

I'm sure it's just inertia from Obama. That is the usual line.

[Mark1T]

*** just brought its money home. 5.5bn in taxes the USA would have never seen under Obama. The USA will have record receipts in 2018. Our company plans numerous capital improvement projects in the US as well.

We're just one of many companies to do this.

Obama economic policies are complete fail sauce, and his celebrity fan boys thinking this tax reform was bad, need to think again.

PS Walmart employees are already enjoying their raises.

Maybe I'll move up to the Cashier position at muh Walmart after just a couple more years, after all

MT is catching on

it's gonna be interesting seeing CNN dance around it too

No dancing, Senor Ocean. They just don't report on it, at all. They want their viewers to think Trump is Hitler incarnate.

https://www.zerohedge.com/news/2018-...-creation-plan

And Apple Employees received 2500.00 Bonus

Also this Moron Governor of NY, Guys a total Buzzkill.............https://www.zerohedge.com/news/2018-...irness-fix-tax

Nice, Thomas.

Crumbs. Until you hit a net worth of 90mil, you’ll never understand.

Exactly, Bracky.

[poundXpound]

Apple will be investing $350 billion over 5 years in the US and will pay $38 billion in tax on it. That's $38B the treasury would not have received without tax reform. They also plan to add 20,000 new jobs here. Treasury will also get a $ influx from all those new income tax $, too.

[drudixon]

It's maddening, instead of shipping jobs to India, I can hire here. Wtf with socialists. Makes me angry how dumb people are.

[Clinos]

I'm getting chest pains from all this winning.

[7Seconds]

Apple will be investing $350 billion over 5 years in the US and will pay $38 billion in tax on it. That's $38B the treasury would not have received without tax reform. They also plan to add 20,000 new jobs here. Treasury will also get a $ influx from all those new income tax $, too.

The 38 billion is a one time payment for the 250 billion they they will bring back from overseas (instead of the 88 billion it would have paid under the old tax rate.) When they say they are contributing $350 billion to the economy, they are taking the retail value of their iPhones and iTunes sales and macs and such. As for whether it is a good idea to trade a lower tax for the Treasury to get the cash, we will see how this plays out. As a taxpayer, I am unsure but as an AAPL shareholder, I am estatic for the dividend and share buybacks.

[Jtbny]

https://www.zerohedge.com/news/2018-...-creation-plan

And Apple Employees received 2500.00 Bonus

Also this Moron Governor of NY, Guys a total Buzzkill.............https://www.zerohedge.com/news/2018-...irness-fix-tax

Cuomo is working on other ways to circumvent some of the new tax stuff, too. He's proposing a shift away from employees paying income taxes to the employer paying the tax where they can write it off bypassing the new law. The amount would still be the same though. It looks like an accounting shell game to me. I don't know enough about it but on the surface it seems like a win for the employees.

I do wish NY had term limits for Governor

So far the economic news sounds good. Lets hope it continues!

[Bando]

Cuomo is working on other ways to circumvent some of the new tax stuff, too. He's proposing a shift away from employees paying income taxes to the employer paying the tax where they can write it off bypassing the new law. The amount would still be the same though. It looks like an accounting shell game to me. I don't know enough about it but on the surface it seems like a win for the employees.

I liked TN, tax on everything you buy, milk, cheese, but no income tax. I went to WalMart today and looked at the line of people on scooters at the pharmacy waiting for their meds and griping that they needed a smoke, all on my dime.

My dime feels stretched pretty thin at times.

[Jtbny]

I liked TN, tax on everything you buy, milk, cheese, but no income tax. I went to WalMart today and looked at the line of people on scooters at the pharmacy waiting for their meds and griping that they needed a smoke, all on my dime.

My dime feels stretched pretty thin at times.

How anyone can afford to smoke here in NY is beyond me, tbh. I see the prices at Speedway and am blown away

[Bando]

How anyone can afford to smoke here in NY is beyond me, tbh. I see the prices at Speedway and am blown away

IIRC, I quit at just under $5 a pack in 2000. I literally quit because of the price increase, not the health benefits. But gubn't worked in my case, I won't be on a gubn't ventilator anytime soon, in fact I'm thinking of racing in a spring 5K.

Crazy how we are so controlled by the government overlords

[drudixon]

The 38 billion is a one time payment for the 250 billion they they will bring back from overseas (instead of the 88 billion it would have paid under the old tax rate.) When they say they are contributing $350 billion to the economy, they are taking the retail value of their iPhones and iTunes sales and macs and such. As for whether it is a good idea to trade a lower tax for the Treasury to get the cash, we will see how this plays out. As a taxpayer, I am unsure but as an AAPL shareholder, I am estatic for the dividend and share buybacks.

Under Obama my company's r+d died. All we did was share buybacks. We still will, but now we'll invest in capital improvements because we can actually get a better roi.

In an ironic twist, I'm going to side with liberals on this classic pass the buck quote, "don't blame the individual, blame the system that created it." Karl Marx sic

[drudixon]

How anyone can afford to smoke here in NY is beyond me, tbh. I see the prices at Speedway and am blown away

The lower the economic strata the greater percentage of people smoke. True story.

[JediRN]

I'm sure it's just inertia from Obama. That is the usual line.

It's a fact. It's also a fact the tax cut and spend policies increase economic growth. Unfortunately we are not saving our fire wood for when we need it. We are making the camp fire as big as we can right now with no thought of tomorrow.

When I see the debt actually go down, like in the Bill Clinton days, you can have all the I told you so's you want.

Everything still isn't rosie for a lot of average people.

https://www.politico.com/story/2018/...45493?lo=ap_c1

‘He made promises that he didn’t keep’: Laid-off factory workers feel betrayed by Trump
The president has turned his focus to wider benefits of his tax overhaul after a campaign packed with pledges to keep jobs in the U.S.

The drive of millions that led to the rise of Trump and Bernie Sanders is still there. Most people don't feel a stock market rise. But boy when it plummets they seem to be the first and hardest hit.

Where was this praise when jobs were being created 200,000+ and 300,000+ and the stock market was going up and up and up under Obama?

And how are the Trumpkins going to pin the fall on the dems? You know it will happen.

[7Seconds]

Under Obama my company's r+d died. All we did was share buybacks. We still will, but now we'll invest in capital improvements because we can actually get a better roi.

In an ironic twist, I'm going to side with liberals on this classic pass the buck quote, "don't blame the individual, blame the system that created it." Karl Marx sic

I am all for Apple getting more cash (dividends/buybacks) and I think the lower taxes will make investment opportunities look more lucrative (increasing their expected returns), but just having more cash doesn't increase investment, especially for a large company with tremendous access to capital. It's not like this hasn't been tried before.



https://www.cnbc.com/2017/04/26/what...s-profits.html

Current estimates put the total stockpile that U.S firms are holding abroad so as to avoid U.S. taxes at somewhere in the $2.5 trillion range. Back in 2004, Congress approved a plan to "repatriate" such overseas funds that companies could bring back home at a reduced rate.

The program was part of the American Jobs Creation Act. The hope then, as now, was that companies would shovel that money back into the economy in the form of investment and job creation.

It didn't quite work out that way.

Contrary to the intent, the benefits skewed toward a select few companies in a select few industries. Rather than use the money for hiring and capital purchases, companies plowed the cash into share buybacks and dividends, and many of the biggest beneficiaries actually cut American jobs in the years after the repatriation.

"While empirical evidence is clear that this provision resulted in a significant increase in repatriated earnings, empirical evidence is unable to show a corresponding increase in domestic investment or employment," the Congressional Research Service, Congress' nonpartisan think tank, said in a report.

In the 2005-06 time frame, Pfizer, which repatriated $37 billion, slashed 10,000 jobs. Merck, which brought back $15.9 billion, cut 7,000 jobs, and HP pared its employment rolls by 14,500 after repatriating $14.5 billion.

[Brackneyc]

Might as well eat a bowl of dog poop with a cherry on top. (Paraphrase from Ms. Nancy)

Pelosi, the gift that keeps on giving the whole year through.

[Mark1T]

Cuomo is working on other ways to circumvent some of the new tax stuff, too. He's proposing a shift away from employees paying income taxes to the employer paying the tax where they can write it off bypassing the new law. The amount would still be the same though. It looks like an accounting shell game to me. I don't know enough about it but on the surface it seems like a win for the employees.

I do wish NY had term limits for Governor

So far the economic news sounds good. Lets hope it continues!

Good example of the anti-business party.

[drudixon]

I am all for Apple getting more cash (dividends/buybacks) and I think the lower taxes will make investment opportunities look more lucrative (increasing their expected returns), but just having more cash doesn't increase investment, especially for a large company with tremendous access to capital. It's not like this hasn't been tried before.



https://www.cnbc.com/2017/04/26/what...s-profits.html

Hp had bought eds then. With the massively horrible nmci contract washing out, they had to shed jobs. Also, itanium was a massive problem, they had to shed jobs. That was Carly fiorinas fault, not the tax act.

PS I don't work for Apple

[poundXpound]

The 38 billion is a one time payment for the 250 billion they they will bring back from overseas (instead of the 88 billion it would have paid under the old tax rate.) When they say they are contributing $350 billion to the economy, they are taking the retail value of their iPhones and iTunes sales and macs and such. As for whether it is a good idea to trade a lower tax for the Treasury to get the cash, we will see how this plays out. As a taxpayer, I am unsure but as an AAPL shareholder, I am estatic for the dividend and share buybacks.

Excuse me, but the only way Apple would have paid $88B under the previous tax law was IF THEY HAD BROUGHT THE $ BACK TO THE USA. That wasn't going to happen, so Treasury would have gotten zero. Which is better for the US, $0 under the old tax law or $35 billion under the new one?

[7Seconds]

Excuse me, but the only way Apple would have paid $88B under the previous tax law was IF THEY HAD BROUGHT THE $ BACK TO THE USA. That wasn't going to happen, so Treasury would have gotten zero. Which is better for the US, $0 under the old tax law or $35 billion under the new one?

You're not wrong, but it is sufficient to say the US has an overly complex tax system. As I understand it there are tweaks that could have been made that would encourage companies to bring money being held and untaxed, into the US and pay taxes on it. However, to get more of it most of the solutions require more time and patience to implement -- this was a quick one shot deal -- and it worked if the goal was to get a lot of money now and perhaps sacrifice more later. We pretty much gave the big corporations whatever they wanted. The playbook for big companies now seems fairly simple:



1. Hold large cash reserves overseas.



2. Say it is due to high tax rates.



3. Politicians lower the tax rate for a smaller shorter boom in revenue.



4. Corporations save money.



5. Repeat.

[ElrondHubbard]

Where was this praise when jobs were being created 200,000+ and 300,000+ and the stock market was going up and up and up under Obama?

And how are the Trumpkins going to pin the fall on the dems? You know it will happen.

That's easy. The individual tax cuts are set to expire in seven years. That will be under a Democratic administration. So when the Democratic President attempts to re-instate those tax cuts, he'll be greeted with howls of outrage from the right, about how he's going to explode the deficit by doing so. It's actually a fairly ingenious piece of cynicism they put together.

BTW, I've already seen one of my coworkers having to comfort his daughter who called him in tears when she discovered that her taxes had increased by $40 per pay period under the new plan. I'll try to get more details later. She doesn't make much, so that's a fairly big bite out of her income.

[Mark1T]

That's easy. The individual tax cuts are set to expire in seven years. That will be under a Democratic administration. So when the Democratic President attempts to re-instate those tax cuts, he'll be greeted with howls of outrage from the right, about how he's going to explode the deficit by doing so. It's actually a fairly ingenious piece of cynicism they put together.

BTW, I've already seen one of my coworkers having to comfort his daughter who called him in tears when she discovered that her taxes had increased by $40 per pay period under the new plan. I'll try to get more details later. She doesn't make much, so that's a fairly big bite out of her income.

I for one will be patiently awaiting for this crocodile-tear report on the horrors this abusive tax bill brings upon the poor people.

[Plateauplower]

That's easy. The individual tax cuts are set to expire in seven years. That will be under a Democratic administration. So when the Democratic President attempts to re-instate those tax cuts, he'll be greeted with howls of outrage from the right, about how he's going to explode the deficit by doing so. It's actually a fairly ingenious piece of cynicism they put together.

BTW, I've already seen one of my coworkers having to comfort his daughter who called him in tears when she discovered that her taxes had increased by $40 per pay period under the new plan . I'll try to get more details later. She doesn't make much, so that's a fairly big bite out of her income.

Someone is full of $hit. Net pay will increase across the board as the tax brackets have been decreased by 3%. The only people who will not come out ahead are the wealthy with multiple properties or very high SALT and that will be when the file their returns in 2019. If her pay decreased it was probably the result of additional withholdings from something else. It wasnt due to a tax CUT!

[JediRN]

That's easy. The individual tax cuts are set to expire in seven years. That will be under a Democratic administration. So when the Democratic President attempts to re-instate those tax cuts, he'll be greeted with howls of outrage from the right, about how he's going to explode the deficit by doing so. It's actually a fairly ingenious piece of cynicism they put together.

strong analysis

BTW, I've already seen one of my coworkers having to comfort his daughter who called him in tears when she discovered that her taxes had increased by $40 per pay period under the new plan. I'll try to get more details later. She doesn't make much, so that's a fairly big bite out of her income.

Hopefully this won't be the case.

I for one will be patiently awaiting for this crocodile-tear report on the horrors this abusive tax bill brings upon the poor people.

It would be crumbs anyways.

[bustasinclair]

BTW, I've already seen one of my coworkers having to comfort his daughter who called him in tears when she discovered that her taxes had increased by $40 per pay period under the new plan. I'll try to get more details later. She doesn't make much, so that's a fairly big bite out of her income.

Something else caused this, it wasn't the new tax bill. BTW, I'm a tax accountant for reference. Awaiting details.

[bustasinclair]

Someone is full of $hit. Net pay will increase across the board as the tax brackets have been decreased by 3%. The only people who will not come out ahead are the wealthy with multiple properties or very high SALT and that will be when the file their returns in 2019. If her pay decreased it was probably the result of additional withholdings from something else. It wasnt due to a tax CUT!

Not trying to be argumentative, but individuals with multiple properties will come out just fine since they do not rely on the SALT deduction as much as people would advertise. Individuals with multiple properties can convert to rental property or if not, under the old system, they would have gotten caught up in the AMT anyway. Also, wealthier people get their itemized deductions limited at certain income levels. Bottom line is that wealthy people just really don't rely on itemizations as much as middle income people do.

[Plateauplower]

Not trying to be argumentative, but individuals with multiple properties will come out just fine since they do not rely on the SALT deduction as much as people would advertise. Individuals with multiple properties can convert to rental property or if not, under the old system, they would have gotten caught up in the AMT anyway. Also, wealthier people get their itemized deductions limited at certain income levels. Bottom line is that wealthy people just really don't rely on itemizations as much as middle income people do.

That's surprising. I'm only "wealthy" on paper, my liquid assets are low so nothing I need to worry about, but I was thinking the 10k cap would negatively effect someone who was paying high amounts of mtg interest and property taxes. I'm just looking forward toi next year when I can 1040EZ form my taxes and be done instead of fuking with Turbo Tax for the better part of a day....