Originally Posted by solipsism
I'm all for this so-called tax holiday.
PS: This is article about politics so I'm surprised at how tame the rhetoric is so far. If ever there was a thread for crazies to take their soapbox this is it.
Au contraire, I'm appalled by the general level of ignorance about how economies and businesses actually on these forums (examples below).
But then I just read the infographic
detailing the demo diffs between iPhone and Android users, and it won't make me change my products of choice, but Apple users are much bluer as a group. As is Steve, of course, and Apple did put Al Gore on the board.
Originally Posted by bad_ika
Think different. Compel repatriation and tax it at 70% at threat of imprisonment for all senior executives.
Thanks for your helpful input, Commissar! Shape up these bourgeoisie pigs or shackle and send them to Siberia for "re-education"! And PS, that's not "thinking different," it's simply rehashed Marx channeled through Stalin. Both demonstrated masters of how to make an economy hum by harnessing the most effective tools for managing and encouraging proper human motivation. Not.
Originally Posted by studiomusic
What's 5% of $1.5 trillion?
Much better than 0% of $1.5 trillion.
Guess what - as per the thinking above and below, many here aren't going to get that.....
Originally Posted by simonsharks
If it really is about "investment" then so be it. Allow them to bring back their money tax free on the condition that they actually do reinvest it. Call their bluff!
What - do you think they stuff it in vaults and swim around in it like Scrooge McDuck? Or just stick it in mattresses....? On the other hand, if instead of this insane impulse to CONTROL what businessfolk do, you want to talk about incentivizing economic activities we want to occur (like, first, incentivizing bringing the money here in the first place as this proposal does), then we have a basis for dialog.
To be fair to you, though, our banks - propped up with trillions of dubious "FedBucks" courtesy of FR Chairman Bernanke - are kind of doing that, but the money repatriated by non-financial corps will be circulating and invested in something here instead of being isolated outside of the country.
And even if not all poured into hiring and building, etc., it's bound to be beneficial to have even their accounts and gold and such here.
Multi-nationals (like it or not/rightly or wrongly) find "home" to be where their capital and markets are. Keeping the money overseas makes American corps gradually less American.
Originally Posted by SiMBa37
So let me get this straight, our federal and state governments have no cash to fund any programs from school aid to health care, they are unwilling to tax the rich for revenue...and somehow repatrioting $1 trillion + dollars tax free is going to somehow stimulate the economy? Remind me how again?
So let me get this straight, despite record government spending (where "poor, modest civil servants" have greater job security/layoff immunity, higher wages, better retirement and health care and amazingly more paid leave than workers in the private sector) - and where Medicaid is the single largest item in most state budgets, we're funding no "programs from school aid to health care"?
And 5% = tax free?
And the top 5% of earners paying over half of all federal income taxes collected = not taxing the rich for revenue?
Damn, you could have fooled me.
Remind me where you studied math again??
Originally Posted by bad_ika;1927798...
It's a very simple issue of who is stronger, governments or corporations.
Or unions or other non-corp lobbying groups representing social program and other subsidy beneficiaries - corporate and otherwise, plus contractors who depend on gov't for their businesses, and finally, media, 90%+ of whose reporters and content producers support big gov't and its programs - who, collectively, form the backbone of "strong" gov't. support.
(The fact that 90% or more of reporters personally vote Democratic has been studied and replicated several times - and that doesn't include the movie, video and music communities who command so much of our collective attention, and of whom probably over 95% are demonstrably on the left to far left in nearly piece of "propa-tainment" they offer us.)
Originally Posted by cheviot
Doesn't Apple already have 87 billion in cash they aren't spending? What would adding to the pile of money do?
Argghhh. Again, it's not in a mattress. And even if it is, we're better off as a country if it's in a mattress in the US. (And given that Apple now has more cash reserves than the US gov't., which, yes is true, again, I know I'd prefer those to be on shore in these times.)
Originally Posted by BenRoethig
It brings the money home and gives it to people like Steve Jobs who aren't hurting for money instead of the people now struggling to feed their families because their jobs are being shipped overseas to slave labor factories.
This sentence is so twisted into a pretzel as to almost defy comment. If Apple could deploy more of its cash here, it might spend more here. And of course things like building their huge new data center and proposed new "spaceship" HQ - funding many construction and related jobs - to handle their growing number of US employees only ships jobs overseas to slave labor factories.