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Nobody had to convince Apple or any other company to do anything. The repatriation is deemed, i.e no company has a choice in it. And while you may believe it wa

• j4ship 9y ago
  you couldnt pass this bill becuase liberals didnt want it , because liberals dont want to see this kind of legislation. You have it now becuase liberals have less stopping power.
• downandout 9y ago
  >The repatriation is deemed, i.e no company has a choice in it. Incorrect. There is a repatriation tax holiday that enables them to pay lower rates than normal on repatriated cash. It is designed to encourage repatriation. They are not required to do so.
  • IBM 9y ago
    >Incorrect. There is a repatriation tax holiday designed to encourage repatriation. They are not required to do so. Unfortunately, you're incorrect. https://www.pwc.com/us/en/tax-services/publications/insights/tax-reform-readiness-us-mandatory-deemed-repatriation-issues.html https://www.pwc.com/us/en/tax-services/publications/insights...
    • hateduser2 9y ago
      No u
      • dang 9y ago
        Would you please not post unsubstantive comments here?
    • downandout 9y ago
      Unfortunately, that article is clear as mud and seems to use the word “mandatory” in its headline as editorialized clickbait. In its explanation: “[The plan] uses the mechanics under subpart F to impose a one-time ‘toll charge’ on the undistributed, non-previously taxed post-1986 foreign E&P of certain US-owned foreign corporations as part of the transition to a new territorial regime. The toll charge is reduced by a deduction computed in a manner that ensures a 15.5-percent effective tax rate on ‘cash’ and an 8-percent effective tax rate to the extent the inclusion exceeds the cash position.” There is nothing there indicating that people with guns were going to show up with guns and demand that Apple repatriate its cash. Once again, the bill was designed to encourage repatriation.
      • IBM 9y ago
        I'm not sure why you think a big 4 accounting firm would need to do clickbait, but that's beside the point. Whether Apple left the cash in Ireland or brought it back to the US, they would have paid $38B in taxes. That's the mandatory part. That's what the quoted text literally says. And since you seem to be unaware, the vast majority of Apple's cash has already been in the US for years, invested in US treasuries and other fixed income assets and held by American trust banks. It's Irish cash only in a legal sense. This is broadly true for all other American multinationals as well.
        • downandout 9y ago
          The point is that the tax is mandatory, not the repatriation. If they didn’t believe that the US was the best place to put that money, they could have paid the tax and left it there or moved it elsewhere. The fact that they are deploying that capital here indicates some level of belief that the American economy will thrive under this tax plan.
          • threeseed 9y ago
            This is pure fiction you've invented here. Apple bringing capital back to the US is solely to do with their being tax incentives to do so. Nothing more. Nothing less.
    • prklmn 9y ago
      Disregard the link with the confusing title and think critically for a moment. Do you really think the US government is forcing all companies to bring any and all profits earned and stored overseas back to the United States? That’s what you’re implying.
      • IBM 9y ago
        The US government is forcing all companies to pay a mandatory tax of 15.5% on all overseas profit that was designated as "indefinitely reinvested" under the previous tax regime. This is a mandatory one-time tax as part of a shift to a territorial system. Multinationals can do whatever they want with the cash, but considering that they've been lobbying government on a repatriation bill for over a decade specifically to be able to do domestic M&A, pay dividends, or do share buybacks, it's pretty obvious that all of that cash is coming back to the US. A business that wants to reinvest all their cash internationally is free to do so (and in fact the previous tax regime incentivized it), but they're going to be paying US tax on what they've accumulated so far.
      • pdeuchler 9y ago
        Where the database that holds the dollar amount is located doesn't matter, what matters is where it's taxed and where it's spent. The US government _forced_ the companies to pay this tax, that point is irrefutable.
        • downandout 9y ago
          All taxes are compulsory - "_forced_" - as you put it. Who would pay them if they weren't? However, they are free to invest it wherever they choose, and they have chosen the US. That is not "mandatory repatriation".
  • dschuler 9y ago
    The repatriation tax holiday actually encourages corporations to hoard profits overseas until the next "one time" tax break. There was a repatriation tax holiday in 2004 also.
• makomk 9y ago
  Prior to the bill passing, pretty much every single Democrat-leaning publication tried to spin it as an evil Trump/Republican plot to give Apple billions of taxpayer money, with the figure calculated based on the difference between what they'd pay if they repatriated all those funds at the full tax rate (which wasn't ever going to happen) and the amount they'd pay under the bill. If people associate this bill with Trump and the Republicans, it's because their opponents fought hard to make that association.
  • IBM 9y ago
    They fought this bill hard because the tax proceeds are being given away to corporations with a massive reduction in the corporate rate (along with other giveaways that benefit the wealthy such as lowering personal income taxes and raising the threshold for the estate tax), in direct contravention to their policy goals. Had the Republicans chosen not to use this opportunity to go for broke while they're in control of Congress and the White House, they'd have Democratic support.
    • spoiledtechie 9y ago
      Its called job creation. Companies who benefit create jobs...