Two New Apple Centers In Iowa
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Posted on 08/24/2017 2:19:27 PM PDT by TigerClaws
Try to use your pea brain for one second. K Street is in total alignment against the Trump economic agenda you buffoon. There is not ONE lobbyist on K Street pushing for protectionist trade tariffs or Trumps economic agenda in any way. Not one. K Street is all about open borders, rape trade, off shoring and anti American economic policies, the policies you Free Traitors™ love so much. You are an enemy of the Trump agenda which makes you my enemy. Why keep your head up the a$$ of globalists like McTurtle?
K street is about buying government protection and favors for its clients, and its clients alone, at the expense of other businesses and the taxpayer.
Next time, we’ll just take all those millions out of your pocket and won’t bother the other taxpayers.
They can say they are going green, but the real reason is the electric is cheap.
I thought this was a conservative web site? Since when do Freepers complain about tax cuts? Are you sure you belong here? FOAD.
“Wholesale electric costs around 1.7 cents per Kwh.”
That is cheap. Around here it is about $0.10.
You are wrong. K Street is fighting and bribing pols for Free Traitors™ and one sided trade. I know it. You know it. Nobody on K Street is fighting for the Trump agenda. I wish that was not true but the reality is K Street is owned by the globalists.
Tax cut for the business but not for everyone else. Everyone else must pay more taxes to make up the difference but then you understood that but wanted to be snippy.
Interesting, I literally just read an article off of Drudge that Tim Cook is barnstorming Iowa and Ohio...
http://ntknetwork.com/is-tim-cook-running-for-president/
The economic stimulus and the taxes generated will be more then the paltry $207M. It is not a zero sum game but you knew that.
Is the DU down? Why are you here? Globalist tax lovers are at the DU, join them.
Apple would have built there no matter what. Stop these extra special perks across the nation and we’ll be all the better.
This is the same as giving blacks extra points on the civil service exam. Guess you’re all for that.
Giving blacks extra points doesn’t employ hundreds of people, increase the tax base and spin off other service/construction industries. The are plenty of democrat websites that agree that tax cuts are bad. Go find one.
I thought we were done about this thread. You don't give up with the Apple bashing, even when presented with facts. How ignorant of you. You are the one who refuses to listen to the math presented to you. And I graduated as a math major, and know math very well. Let me explain it to you again, as your ears are clogged. (With what, I don't know, it ain't brains.)
Apple is not being given money. They are being given incentives. Apple is giving over $100 million dollars to build facilities for the public. Apple is paying out money for the privilege of getting tax incentives. The local government is currently getting zilch for the land, no property tax revenue at all. Apple is getting a discount on future property taxes on their future use of the land, spread out over a couple decades.
This is no different than the tax incentives given to my daughter and son-in-law in Des Moines to buy and develop property there. The neighborhood was run down and vacant, and the city was generating no property tax income. My daughter is not super rich, just an ordinary citizen. So there goes your argument of only the super rich getting help. My daughter is a little girl. They provided her with an incentive of no property taxes for ten years as long as she bought the property and fixed it up. As a result of her and dozens of other new property owners, the neighborhood was revitalized and is now a trendy destination. The city of Des Moines wins - they are now generating income from new inhabitants who spend locally, hire contractors locally, and beautify the area. Same goes for Apple and other I.T. companies who recently built in Iowa due to the same tax incentives.
Now, have I educated you in basic math? (I used to be a paid math tutor, this lesson is for free.)
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I'm an Economist. Look at it this way: Apple is giving the community $100 million now instead of $188 million over 20 years. . . or essentially $9.4 million per year. Apple can easily invest that $100 million in itself and throw off more than the $9.4 million to pay the property taxes per year, but this way, the local government gets to build some needed programs without borrowing at high interest rates. The future value the money is worth more to both in hand now than being slowly expended or received over time. it's a win-win for both Apple and the local community. now add the gain not only in direct jobs gained but in concatenated jobs added. That's why said "thousands and hundreds" because that IS the ultimate result of the initial and secondary and tertiary and so-on jobs that flow from such a development.
Money spent in the community is not spent just once, Ilovesarah. It will be spent multiple times as it flows through that community, changing hands, as a means of exchange. it doesn't disappear unless it's taxed away to Washington the State capitol. eventually, it will be, but until it is, that $100 millions will be echoing and re-echoing throughout the local community creating wealth as people spend it and those who receive it, in turn, also spend it, ad depletum.
And that report is WRONG, lover of Sarah. Do you always cite left wing reports from socialists? It was thoroughly investigated by a US Senate investigation in May of 2014 and Apple CEO appeared to testify under oath about those funds. The money held overseas by Apple has ALREADY BEEN TAXED and the US Income Tax has been paid on it.
Apple pays an effective US INCOME TAX RATE on its world wide income of approximately 28%. You can look it up. It's published in the quarterly and yearly Financial records filed with the Securities and Exchange Commission required to be filed by law. In fact, Tim Cook brought Apple's audited 2012 Income Tax Returns with him when he testified before the US Senate investigating committee, whose investigating staff claim that Apple was paying NO US TAXES AT ALL, that showed not only was paying US INCOME TAXES, but in fact, Apple in 2012, a fairly typical year for them, had paid MORE US Income tax than any other business! In that year, Apple paid $1 of every $40 of US business Income Taxes Paid that year.
Compare Apple's approximate 28% Income Tax rate on it's earnings to Microsoft's 2015 of 8.4%, Google's 2.6%, and Amazon paid a very high effective 60% but on minuscule profits listed in the tens of millions from hundreds of billions in sales while for most of their existence reported losses and paid no taxes.
International tax law requires that income tax is paid in a companies home nation. Apple is the US. And that is where they paid the income taxon the money held off-shore! It has been reported and taxed.
IF Apple were to bring that money into the USA, there is a tax code that requires it to be TAXED AGAIN at 35%, even though it was already taxed. The USA is one of only TWO countries in the world that taxes its citizens and companies when they patriate money earned outside of their nations' borders. The other is a landlocked African dictatorship. All other nations allow their citizens to bring their earnings home without re-taxing them so they can be invested at home. Not so the USA which stupidly prevents it with a confiscatory tax rate to bring your own money home! THAT IS WHAT THAT ARTICLE WANTS APPLE TO DO: Move its own money from one bank off shore to another bank in the US and pay 35% to the US Government for the privilege of doing it. INSANITY.
Apple could not care less what the price of electricity is in Iowa. Cook stated Iowa's commitment to renewable sources was an inspiration and gave incentive to the decision, not that that it was instrumental. Every single one of Apple's data centers is 100% energy-independent and self-powered and in fact sells power back into the grid. Apple's new headquarters in Cupertino is completely off the grid. Iowa's wind generation was a small factor in Apple's decision to locate there, but Apple will most likely build additional capacity by adding more wind powered generators and/or solar panels and storage to fully power its facilities at peak draw. For Apple, these energy savings turn into a profit center adding to their bottom line.
They are going to invest $100 MILLION for “public improvements” for a city of 13,790 people, 5,154 households, and 3,689 families?
And only 50 new full time jobs are coming?
Wow, they struck it rich!
Dang! The price of gasohol is going to shoot up now!
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