Thursday, January 18, 2018

Trump tax

So, Trump and the Republicans enacted the "most drastic changes to US tax code in 30 years". Inevitably, some Leftard protesters made themselves look completely loopy through the use of ludicrous hyperbole.
As the vote occurred, activists in the press gallery shouted “Kill the bill, don’t kill us”.

Anyway, so what has actually happened? Well, it's a big and complicated law but one of the main features is the reduction of Federal Corporation Tax—from around 35% to 21%. So, some companies have already started offering pay awards to their workers a a result.

Further, Apple is now repatriating a massive amount of their overseas cash, leading to the largest tax bill payment ever—a cool $38 billion. In reporting this, The Grauniad makes a very bold assertion... [Emphasis mine—DK]
The company, which has faced international criticism for its tax evasion policies, also said it would spend $30bn in the US over the next five years, creating 20,000 new jobs.
Tax evasion? Apple is deliberately and illegally evading paying tax?

As Sir Humphrey might say, that's a very brave assertion.

Anyway, so far, I think that we can chalk up these tax reforms as a win for Trump.


dustybloke said...

I would like to point out that The Guardian would never, never ever, report Fake News.

Oh no, it just wouldn't

Well, maybe just a teeny weeny bit, if the temptation was irresistible.
And pleased its lefty audience.

bilbaoboy said...

Major, major triumph for Trump and for all who believe that growing the economy is the best way to get more tax for those things that really need doing. Hearing Tim Cook of Apple recognising that he didn't agree with Obama on tax was merely the cherry on the cake.

This doesn't make Trump right on international trade but he really is going to grow the economy and that will get him re-elected.

Voter registration would help too. As the democrats know only to well. It is the illegals that are their only chance. How can anyone refuse voter registration. Somebody, somewhere else detailed the Mexican system. It is a system and it works. The good old USA is way out of line and it skews the system.

Re the economy: Britain could do the same. Short-term pain to get out of the EU, reduce corporate income tax, rapid trade deals with anyone who wants one and frack like crazy. It is the biggest and safest windfall ever granted to God's most beautiful isle.

Cheap energy is one of the keys to future prosperity. And we sit on it while posturing about saving the world from CO2. Drives me mad.

Ed P said...

I hope Apple sues the Grauniad for that lie. They of all people, with their Scott Trust tax avoidance, should know the difference.

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