During the 2016 campaign, Bernie Sanders threatened large corporations with MASSIVE tax penalties if they stashed their hard-earned money overseas.
However, President Trump had a much more practical approach. He proposed taxing them at a LOWER rate so they’d be incentivized to bring that money back and use that money to help stimulate the economy. As expected, that’s EXACTLY what’s happening. (Who would have thought that incentivizing companies instead of THREATENING them would actually work?)
According to the GBH research group, Apple is planning on bringing back nearly $200 billion in foreign cash back into the United States due to the massive tax breaks they’ll receive.
Here’s more from their report (via Breitbart):
A GBH research note signals that Apple is set to bring back approximately $200 billion of its $252 billion foreign cash portfolio as a result of tax breaks that the company will now receive.
With Apple & Cook set to repatriate roughly $200 billion of cash based on our estimates we believe accelerated buybacks, another dividend hike, and potentially larger M&A will be the trifecta of benefits shareholders could expect to see in 2018.
According to other reports, Apple will likely pay a 15 percent tax on any of the funds that are returned from overseas. “With over $250 billion stashed overseas, Apple stands to pay roughly $40 billion under the deemed repatriation provision of the new law,” the report reads.
The report argues that the GOP tax bill is quite friendly to international corporations such as Apple, allowing them to return foreign cash to the U.S. at a low tax rate.
Imagine what Apple could do with that extra $200 billion in cash to use for their business? Imagine the people they could hire, the technologies they could create, and the business they could generate with it?
This is just another WIN for the Trump agenda, and one that will help our economy KEEP THRIVING!