“In a video and interview publishing Tuesday, Carl Icahn shares Donald Trump’s criticism of the U.S.’s failure to overhaul taxation and immigration and raise interest rates,” Beth Jinks reports for Bloomberg. “Icahn backs Trump’s calls to end carried-interest loopholes and rules that encourage corporations to relocate overseas and avoid repatriating profits.”
I would say it’s an endorsement. I think at this moment in time, he’s the only candidate that speaks out about the country’s problems. I’m behind Trump. I disagree on certain points I don’t want to get into, I’m sure those can be worked out, but the basic thing is, you need somebody that can get things going in Congress, and I think he can do it. You need somebody that understands business, and I think he understands it. — Carl Icahn
Full article here.
“The 79-year old investor is Apple’s largest individual shareholder,” Brendan Coffey reports for Bloomberg. “He owns 10.6 million shares in his personal investment vehicle, High River, and another 37.6 million through an 89 percent stake in publicly traded Icahn Enterprises.”
“With a current net worth of $22.6 billion, Icahn is the 33rd-richest person on earth,” Coffey reports. “That’s enough to buy about 1.3 million of the priciest Apple Watch.”
MacDailyNews Take: Regardless of who’s endorsing whom for what, U.S. corporate taxes are obviously too high.
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:
Donald Trump: Why I sold my Apple stock – January 30, 2014
Donald Trump explains Apple’s stock swoon – January 28, 2014
Donald Trump: Apple must go to a larger screen iPhone now! – October 15, 2013
Donald Trump: Tim Cook must immediately increase iPhone’s screen size – April 29, 2013Icahn warns about U.S. stock market while touting Apple – June 25, 2015
Carl Icahn lauds Apple Watch, but he doesn’t want to be pushy – May 20, 2015
Carl Icahn’s open letter to Tim Cook worth $8.35 billion for Apple shareholders – May 18, 2015
Why Carl Icahn believes Apple’s share price should be $240 – May 18, 2015
Carl Icahn issues open letter to Apple CEO Tim Cook – May 18, 2015
Apple expands capital return program to $200 billion – April 27, 2015
Here’s why Carl Icahn wants even more Apple buybacks and why CEO Tim Cook has to pay attention – October 9, 2014
