“President Trump to his conservative critics: I read you loud and clear!” Grabien News reports. “After coming under criticism from many on the right — most prominently, the Drudge Report — for seeming to move popular campaign promises like repealing ObamaCare and reining in the tax code to the back burner, this morning Trump promised a ‘phenomenal’ tax reform package will be presented in the next two to three weeks.”
Grabien News reports, “Speaking to airline executives at the White House, Trump empathized with the burdensome regulatory climate the industry is operating under, and promised to begin making reforms.”
Read more in the full article here.
MacDailyNews Take: As we’ve been saying for many years now, the U.S. corporate tax rate is way too high. Obviously.
Under the current U.S. corporate tax system, it would be very expensive to repatriate that cash. Unfortunately, the tax code has not kept up with the digital age. The tax system handicaps American corporations in relation to our foreign competitors who don’t have such constraints on the free flow of capital… Apple has always believed in the simple, not the complex. You can see it in our products and the way we conduct ourselves. It is in this spirit that we recommend a dramatic simplification of the corporate tax code. This reform should be revenue neutral, eliminate all corporate tax expenditures, lower corporate income tax rates and implement a reasonable tax on foreign earnings that allows the free flow of capital back to the U.S. We make this recommendation with our eyes wide open, realizing this would likely increase Apple’s U.S. taxes. But we strongly believe such comprehensive reform would be fair to all taxpayers, would keep America globally competitive and would promote U.S. economic growth. – Apple CEO Tim Cook, May 21, 2013
SEE ALSO:
Apple raises $10 billion in debt ahead of President Trump’s repatriation tax plans – February 3, 2017
After Apple’s blowout earnings, the Street looks toward ‘iPhone X’ and President Trump’s tax reforms – February 3, 2017
President-elect Trump’s corporate tax reform expected to have some positive impact on Apple EPS – January 14, 2017
Exploring Apple’s tax situation under U.S. President Donald Trump – November 21, 2016
Morgan Stanley: Apple stands to benefit the most from President Trump’s corporate tax plans – November 11, 2016
Apple and U.S. President-elect Trump: Can a tax cut for overseas cash heal wounds? – November 10, 2016
Donald Trump plan calls for cuts in corporate taxes, personal income tax rates – August 9, 2016
Barring a tax holiday, Apple will need to raise over $50 billion in debt the next 2 years – July 15, 2016
Cramer: Apple’s Tim Cook is ‘patriotic’ on taxes – December 21, 2015
Apple CEO Tim Cook is absolutely right – and wrong – on U.S. corporate tax policy – December 20, 2015
Apple CEO calls corporate tax rap ‘total political crap’ – December 18, 2015
Apple avoids $59.2 billion U.S. tax bill – October 7, 2015
U.S. companies now have $2.1 trillion overseas to avoid corporate taxes – March 4, 2015
Trump: And don’t forget to kill off the individual mandate on Obummercare.
Make that the UNCONSTITUTIONAL individual mandate.
Activist judges who invent/change words in written law (Roberts, “tax”) are poison to the Constitutional Republic.
You do realize Roberts is Republican and was appointed to various posi8tions by Saint Reagan (peace be upon him), Bush the Elder and Bush the Idiot. Confirmed by Republitard- in lockstep, of course.
As to the Tax cuts, I guess Deficits only matter when Democrats are in office. Gawd knows Republicans have proven incapable of balancing the Federal Budget. Not one Republican since Eisenhower has pulled it off and he would be considered a raging liberal by today’s GOP. Nixon, Ford, Reagan, Bush the Elder, Bush the Idiot all failed to balance a budget
Regardless of the crapshoot that some judical nominations present (see the mistake known as Anthony Kennedy), The Obamacare “Tax” That Chief Justice Roberts Invented Is Still Unconstitutional.
Actually the Supreme Court decides what is constitutional. Not you and not Forbes.
You stay mired in the past. Just like the election, it’s done. The decision is made. Now try moving forward instead of jumping up and down and stomping feet while your tantrum rages on.
When DavGreg is right, he’s right. Increasing spending and tax cuts worked for Reagan because we had a strong economy, if you’re going to decrease taxes, in spite of the fact that history says revenues will increase, be safe. Decrease spending as well.
I look forward to seeing spending on the “war on terror” being decreased. I doubt I will. Once you go to war with a noun, (drugs, war), you never get out.
Listen to the way Kennedy speaks to the country vs. the way our bozo Kardashian speak morons address the nation of Kenye class idiots they have now.
My favorite JFK comment…
Remarks at a Dinner Honoring Nobel Prize Winners of the Western Hemisphere. April 29, 1962
“I want to tell you how welcome you are to the White House. I think this is the most extraordinary collection of talent, of human knowledge, that has ever been gathered together at the White House, with the possible exception of when Thomas Jefferson dined alone.”
the very definition of eloquence, to me.
Good one! Glad you’re having a positive day.
Everyday that Donald Trump is president is a positive day! Thanks!
Like that, Bush the Idiot, as another name for Baby Bush.
And of course, a baby bush is a Shrub.
Waiting on any substance behind these hollow words is as fruitless as waiting for an update on Android
Yeah, as if Trump hasn’t done more in his first 8 days than Oblahblah did in 8 long years of fecklessness.
In just his first TWO DAYS as President:
1. Russia and Syria publicly announced wanting peace with the U.S.
2. Israel’s Prime Minister announced desire to repair the damaged relationship (thanks to Obama) between them and the U.S.
3. DOW hits an all-time high.
4. Canada and Mexico have announced willingness to renegotiate NAFTA with the U.S.
Funny how Executive Orders were abuse of power by Obama but exercise of power by Trumpenstein.
Trump has managed to piss off any number of longtime US allies.
He has managed to disrupt the lives of American citizens and legal resident aliens by his idiotic entry ban. Note he did not ban people coming from a single country Trump does business with. He also failed to include Saudi Arabia, which was where the majority of 9-11 attackers called home.
He has also asked for the resignation of every Inspector General in the US Government. This despite the fact they are supposed to be independent and not political hacks.
He has appointed as Education Secretary a woman who has never been a student, teacher or staffer of a single Public School.
He has installed more Wall Street Banksters into the Executive Branch than any President in history.
He has appointed to various agencies people who are opposed to the very existence and mission of those agencies.
He has targeted a rule that requires Financial Advisors to act in the best interest of customers. How would you like it if your Doctor, Plumber, Lawyer or Banker was allowed to mislead you into decisions that made him/her more money but fucked you over?
This is what Fox Newz, Limpaugh, Breitbart, NewsMax and the rest have brought us.
Haha funny DavGreg. It’s called paybacks, revenge, tit-for-tat. Ain’t Karma a b1tch?
Moronic comment. Beyond stupid.
Nothing I’ve listed above has anything to do with an executive order.
If Oblahblah hadn’t misused executive orders, he’d have a legacy instead of having it erased because executive orders can erase executive orders. The mistake that was the Obama presidency will be erased due to his own incompetence.
Education ≠ Public schools.
That is your mistake. And it’s a doozy.
Why are Libs afraid of school choice? No more indoctrination. No more uneducated masses in dire need of public assistance who’ll vote Democrat (because they’re uneducated). No more guaranteed jobs for teachers who are failing our students. No more federal control of what is proven to be better administered locally.
Obama chose to send his own daughters to Sidwell Friends, a private school among D.C.’s most exclusive institutions whose annual tuition runs around $30,000. If he felt so strongly that offering lesser-privileged children vouchers to attend better schools would stymie public schools, then why not put his own daughters in one?
Obama killed the D.C. voucher program to please public teachers’ unions – prompting them to open up their war chest even more in the next elections. Never forget that Obama’s daughters’ futures were too precious to be sacrificed on the altar of politics. But, evidently, the futures of other lesser-privileged children were not.
Among the children who were forced to to return to public school after Obama scrapped vouchers were two of his daughter’s lesser-privileged schoolmates, who were using their vouchers to attend Sidwell.
Lib/Dem/Prog hypocrisy knows no bounds.
Mr NeoCon, I have enlightened you over this before.
Liberal ≠ Progressive
Liberal ≠ Democrat
Democrat ≠ Liberal
Democrat ≠Progressive
Progressive ≠ Democrat
Progressive ≠ Liberal
just as
Republican ≠ Tea Party
Republican ≠ NeoConservative
Conservative ≠ Republican
Tea Party ≠ Republican
School choice is a term with a very fluid definition. And FYI, all schools indoctrinate students with something. Learning your multiplication tables is a form of indoctrination. Learning spelling, grammar and punctuation are forms of indoctrination. Studying the Bible, Book of Mormon or Koran are also forms of indoctrination. Studying Milton Friedman is a form of indoctrination. So spare us the fake outrage and pejorative tone that public education is somehow doing something private schools are not.
Public funds should not be expended teaching you about Jesus, Yahweh, Mohammed, Allah, Joseph Smith, Gautama Budda or or the Flying Spaghetti Monster as divine or as creator of the universe. Teach your sky spook mythology on your dime and your time.
Charter Schools have been all over the map regarding results despite often having the option to choose whom to admit. Some cherry pick students and leave the difficult cases to the Public District. In the end, charters often do less well than the public district.
I did not vote for President Obama but am aghast at the vile contempt directed at every thing that came from his mouth of his pen by people who mostly seem to have been offended that an African-American occupied the White House.
FYI, I am an independent Progressive and have never been a member of the Democratic Party or considered myself a liberal in the American vernacular understanding of the term. Classic Liberalism is in fact a champion of Laissez-faire- not Conservatism. Theodore Roosevelt and Robert La Follette were both Progressives and both Republicans.
I am no friend of the AFT and NEA- the two teacher unions that were more interested in electing Hillary Clinton President than educating children.
As to your specious charge that uneducated people vote Democratic, I will leave you with these well established facts:
1-The more educated you are the more likely you are to be Liberal.
2-The poorly educated were the bulk of Trump voters.
“The ‘C’ students run the world.”
– Harry Truman, democrat.
There is a lot of bullshit regarding US corporate tax rates.
While the US has one of the higher base tax rates, it is fairly middle of the pack for effective tax rates. There are so many exemptions, carve outs, loop holes, etc that few companies pay the rates pundits and morons like Trump like to throw around.
We could significantly reduce our quoted rate by getting rid of all the various tricks and variances allowed under law and not significantly change the effective tax rates for most companies. I am all for tax simplification and oppose the use of the tax code to encourage or discourage behavior by people or corporations. Taxes should be a fair levy to generate the revenue necessary to operate our government and the services it provides- nothing more. No sin taxes, no tax subsidies or rebates, no tax credits.
While we are at it, get rid of the ability to deduct state and local taxes from your federal tax. That is nothing other than a federal subsidy of high tax states by residents of low tax states.
Finally, I agree with you on something!
nice idea. Now tell us how you are going to get congress and spray tan man to go along with it.
We need a new Congress. Poor Kentucky, the people just don’t realize the republicans in their state assembly are keeping them from working. Election after election they elect republicans and complain about how nothing is being done. The just don’t get it, republicans do nothing, they talk about doing something, but the actually do nothing. trump is a prime example his executive orders are worthless, just a photo op thrown together to make it look like he is doing something.
Poor Kentucky, doesn’t understand the Obamacare just set up a grocery store, the marketplace, and in that store, on the shelves are insurance plans that have the same ingredients in them. Just like a grocery store, the prices are different, but unlike the generic soap on isle one, the store guarantees that is will do the job just like the name brand.
Insurance companies want to offer cheaper plans, sure, sure, but the way that works is they will take your money and not cover anything, or cover less or cap how much they will cover, all while the CEO makes a one billion dollars. That’s your money! The money you need to stay alive.
If the direction seems bad, maybe you should stop electing republicans, elect independents, if you don’t want democrats, but stop electing people that tell you if you let us dirty up your drinking water you can have a job. You know, remove regulation that protect you. The rich can afford bottled water.
Repatriation of cash to the US should be tied to in country capital investment.
A big tax discount for all dollars spent building factories in the US would be a win-win
No, Apple and other corporations should be able to bring their money home without being required to spend it in any particular way any more than what you spend your income on should be subject to government direction.
Corporations should not be doubly taxed on money earned overseas. If the proceeds are distributed to shareholders as dividends they will be taxed as income- why should they be subject to both a corporate and personal tax?
OBP signed three executive orders directed at crime…this includes pedophile rings….Sessions is comin’ for you Podesta & Co., you piece of shït.
I would like to thank all of you supporters of pedophilia for downvoting my comment…I consider it another badge of honor.
Give it a break Botty. That crap is beneath even you. Stop playing to your groupies. They are so stupid they would scream their approval if you told them Richard Nixon was really Puerto Rican from the Bronx. Perhaps you should consider replacing Miscavage. I bet you could do well as a cult leader of the brain dead . You’re a pretty smart guy, but your followers not so much.
The only “follower” I seem to have is you. I should be flattered by your obsession, but I’m not. It’s more in the vein of an annoyance.
AS you wish regarding the “followers” remark, but as I expected, you failed to respond to/address my point. You know very well the Pedestal/pedophile stuff is pure, unadulterated bullshit, yet propagating it among the brainless and trying to glue it to others is grade school stuff. It really does show how little you think of most supporting your positions and those stupid enough to debate the positions you take solely to antagonize others.
Botty, I find you to be an intelligent man with a defined goal and a structured plan to achieve that goal. I like the show you run so when I come here I take a look at your comments. I enjoy watching the weak crumble under your strategy. So if you wish to call that a follower, fine, but you know full well it is in a completely different context than the way I am using the term. I also like to see where you fall off the cliff and digress to berating and personal attacks as a method of forcing submission. It makes for an interesting contrast with your intelligent side.
You ascribe some kind of omniscient conspiratorial acumen to me that simply just does not exist…or, at least, not by intent. However, we can meet for sex if you’d like…I’ll bring my Tony Bennett LP’s.
see you there!
http://farmersdaughterhotel.com/room/no-tell-room/
Tony Bennet is so far to the left it wouldn’t be unreasonable to call him a commie. So I will graciously bow out and leave you and Tony to share your intimacy by yourselves.
Interesting to learn you are a fan of vinyl reproduction versus the more recent digital technologies
Nothing conspiratorial at all. I’m an observer and I enjoy watching how you play to your audience and how you inspire others who would like to be you. The idea that you have no conscious knowledge of any of this is laughable. You can’t possibly think I come here for anything more than the entertainment value, can you? If you do think I come here for other purposes I will have to re-evaluate your intellectual prowess.
You know exactly how MDN operates and where their almost non-existent boundaries are. You also know if they put a lid on this place and ceased to allow the behavior they openly condone, you and most of those who comment almost exclusively on politically articles would disappear within a day or two.
Once again small business gets screwed as the current administration, like the last several before, allows Goldman Sachs to make the rules.
The end game is simple: if the corrupt puppets “elected” to public office via gerrymandered districts fund government via unending deficits, then the lenders on Wall Street are free to act as the defacto ruling party. Democrats and Republicans are merely the entertainment and disinformation branches of the real political party that owns the formerly great USA. Trump isn’t cleaning up WA-DC, he is ignorant of the real problems facing the nation.
I survived an interview with Psycho Paul Ryan on PBS last night. He made it clear that the tax reform agenda is being set by Congress, not by Trump. So of course Trump takes credit. 😛 Anyway, it will be good to see some *fingers*crossed* sanity instilled into the extravagant spaghetti catastrophe that is current US corporate tax code.
Ryan pointed out that the goal is to be revenue neutral, with tax loopholes being removed as the tax code is simplified. IOW: It’s not supposed to bust the budget. Hopefully, he won’t be pulling any sociopathic BS or ‘tinkle down economics’ garbage as this progresses.
Ryan is globalist trash, bankrolled by Soros.
Ryan is Speaker of the House and controls all spending and taxation. By our Constitution, all taxation or budget must originate in the House. He controls the calendar (schedule) and can fast track or slow walk anything Trump wants.
Not sure if a Trump will bend over and brag his ankles or tilt his head back, but Speaker Ryan is his daddy if he wants anything to move on the Hill. And he is a Republican- a real Republican.
Ryan will not be speaker of the house by the end of the year.
What kind of odds are you offering?