January 19, 2018

Repatriation

I'll give Congress and President Trump props.

I wanted to go a bit deeper on my comment to nb's video. The bonuses and wage increases after the Corporate Tax cut are exciting and are an unalloyed good. I'm not being argumentative. But...

But the repatriation of -- say it with me -- "A QUARTER OF A TRILLION DOLLARS" to the US from foreign accounts is exciting. My Libertarian buddies may not cheer, but the WSJ Page points out that the $38 Billion in taxes "finances a lot of Social Security checks." But what Apple will do with the remaining $212 Billion is pretty exciting.

Am I showing elitist stripes? The $1000 bonuses to good old, salt-of0the-Earth, American workers is swell. But just one company bring that kind of Jack home to design products and build factories might help them more.

By the way, some of the benefit is flowing into wages. Apple also announced a $2,500 employee bonus in the form of restricted stock. The longer-run benefit to workers is that investment makes labor more productive, which will make wages grow over time. Yet Democrats are still claiming that shareholders will be the sole beneficiaries of tax reform and workers will get crumbs. Who you gonna believe: Chuck Schumer or your own eyes?

Jeez, they might even fix iTunes on the PC!

116th Congress Trump Revolution Posted by John Kranz at January 19, 2018 12:04 PM

@JK: you're only being "elitist" to the extent that you can do math and understand economics. You'd be thrown out of Boulder if anyone finds out! Hmmm, maybe you should work from home for a few more days :-)

You are 100% correct, IMO, that the wage increases & bonuses are small change (still, enough "crumbs" for many to make a tasty cake) compared to Apple and other things like the $1B investment (equal to a million bonuses) by AT&T.

Still, I'm willing to float the populist balloon around here and see how it resists some arrows... then I'll put it up on FB {heh}

Posted by: nanobrewer at January 19, 2018 1:11 PM | What do you think? [1]