Senator Bernie Sanders slams Apple’s $2.5 billion pledge, accuses company of ‘throwing pennies at a housing crisis’ it ‘helped create’

U.S. Senator Bernie Sanders (I-Vermont)
U.S. Senator Bernie Sanders (I-Vermont)

“Sen. Bernie Sanders (I-Vt.) on Monday accused Apple of ‘throwing pennies at a housing crisis’ that it ‘helped create’ after the tech giant announced it will spend $2.5 billion on affordable housing in California,” Justine Coleman for The Hill:

The presidential candidate released a statement ripping Apple’s “hypocrisy” and saying he would require large companies to pay “their fair share” in order to make “investments that guarantee Americans affordable housing.”

California has faced scrutiny for its rate of homelessness, particularly from President Trump’s administration, which cited the population when calling on the state to address its air and water quality.

MacDailyNews Note: Sanders’ announcement via Facebook, verbatim:

Apple’s announcement that it is entering the real estate lending business is an effort to distract from the fact that it has helped create California’s housing crisis – all while raking in $800 million of taxpayer subsidies, and keeping a quarter trillion dollars of profit offshore, in order to avoid paying billions of dollars in taxes. Today, more than 134,000 Californians are homeless and renters need to earn $34.69 per hour to afford the average two-bedroom apartment. We cannot rely on corporate tax evaders to solve California’s housing crisis. When we defeat Donald Trump, we are going to make companies like Apple start paying their fair share, so that we can finally start making massive long-term investments that guarantee Americans affordable housing.

See also: Apple commits $2.5 billion to combat housing crisis in California.

MacDailyNews Take: Relax, Bernie! Don’t have a… mmm.

Well, suffice to say, it’ll certainly be interesting to see Apple employees’ political contributions this cycle.

FYI: Apple has long been the United States’ largest taxpayer. Apple has paid $39.591 billion in U.S. income taxes over the past three fiscal years alone. In 2018, Apple announced the company’s direct contribution to the U.S. economy will be more than $350 billion over a five year period including a record tax payment due to repatriation of overseas profits that accounts for approximately $75 billion of Apple’s direct contribution. Apple is not “keeping a quarter trillion dollars of profit offshore” nor does the company “evade” taxes. Apple pays every tax dollar it owes in every country around the world.

43 Comments

  1. Nothing will ever be enough to the band of socialists that dragged California down into the sewer. The would take all of apple’s wealth and destroy all its value and still not solve the problem. They’ve wasted many multiples more than 2.5B already and are utter failures. Apple is stupid in giving more to these failures and expecting a different result.

    I hope apple shareholders sue the hell out of apple, its board, and tim cook, with personal liability, for spending share holders money without the proper vote and care to minority shareholder rights.

    Bernie would bring the entire country into the sewer. This guy hasnt had so much as a paper route in his life, living a life off the govt teat. He is pure evil trying to bring socialism to this country. Just like the philosophies he preaches, he’s a bottomless pit of loss.

    1. So does the orange idiot, who ordered his 2020 campaign banners from the Jiahao Flag Co. Did the Chinese workers pledge allegiance and promise to KAG?

      You must like being lied to by your dictator wannabe. Everyone knows that Bernie’s too old to be president. His policies, even if they did result in healthier more prosperous citizens, could never overcome the Fox news propaganda. US pays the most for healthcare and education while steadily dropping in objective measures of success. Thank goodness for inheritance billionaires for bringing up the US averages. Oligarchs make everyone happier.

      1. California is becoming the Orange Idiocracy as the orange flames destroy the whole state. The flames created by the dumbass policies that Democrats love. Clear no brush, leave all the dead trees, let power lines become overgrown with trees and brush. Orange Idiots – California people. Committing arson against their own state. What total f-ing morons. And then they vote for the communist Sanders who rips the very people he wants to fund his campaign. And they will. Because they are dumbasses.

        1. Whatever: You gotta be farking kidding. Of Bernie’s policies, “even if they did result in healthier more prosperous citizens.” He loves the old Soviet Union and he’s the leftist of all the lefties running. He’s no where near the lauded Scandinavian model, but the closest of all public politicians to Venezuela and thinks we should seek to emulate Cuba’s med program. One thing good about both countries is the citizenry is not nearly as portly as the US…because there are food shortages, not because of idyllic programs.

          Like Obama who ironically once said, “there’s a point when you’ve made too much money,” Bernie’s now in the 1% with his book revenue. Lucky him for the gains, but is he paying his fair share? As we learned earlier this year, it was discovered he wasn’t even paying his campaign workers minimum wage! To repeat, the workers–his workers…he’s scamming the proletariat, even with a beloved union in place. What a scumbag as he talks out of two orifices.

          What the hell does “fair” mean anyways. When you try to make it all equal or fair for all, you know someone ends up being treated unfairly? What’s so right about that picture?

          1. Well said and spot on indictment of the Soviet style socialist. I’m amazed he has so much support. Wait, everything is FREE and you don’t have to pay for it or lift a finger except to sign your name on the government assistance application.

            Bernie style socialism NOT going to happen in the USA! USA! USA!…🇺🇸

        2. My beloved state of California is upside down now due to the democats. If your a felon and commit a crime, your good. No problem. Cops wont do anything anymore. If your homeless and kill somebody your good. Just a pat on the back on on your merry way. Break into somebodies house? Sure, nothing will happen. Illegals have more clout than citizens. Now I pack my Glock everywhere since you could be attacked and of course your attacker would get off scot free after murdering your spouse.

          You have to just shoot first to win.

      2. “So does the orange idiot, who ordered his 2020 campaign banners from the Jiahao Flag Co.”

        Contradiction Idiot: You have NO problem buying the iPhone or other Apple product you are typing on from China, right? Tell the rest of the class why your hypocrisy and sense of FAIRNESS does not apply to THE Democrats and liberal companies, hmmm?

        “US pays the most for healthcare and education while steadily dropping in objective measures of success.”

        Yes on both counts!

        What party passed the ACA with not a single Republican vote and smugly cheered and bragged how it would reform health care, hmmm? Keep your doctor, cut your costs in half, more access to great health care — ALL LIES. Millions remain uninsured, millions can’t afford premiums and costs have doubled and tripled for thousands. That’s what happens when you hire a media adored orator and preachy liberal president without a shred of business, common sense or economics experience. Dumb academic PC elitist Democrats, not sorry.

        What party controls education and what Democrat dominated union controls education for decades and decades, hmmm? The U.S. spends the most per student of all the G8 Nations and consistently scores the lowest test scores. Of ALL the nations in the world, YES ALL, the latest figures show the U.S. spends a close second per student.

        The common denominator here is Democrat failure! If both industries were a Fortune 500 company the CEO would be in jail for malfeasance, companies filing for bankruptcy and stripped of their Dun and Bradstreet/JD Powers ratings.

        Reasonable people would conclude after decades of FAILURE, they would be shamed and lose their power.

        Unfortunately, not in politics with Big Media support… 😡

  2. Actually, Apple, like most every other financially sound business did pay the reported $39.5 billion in taxes. While undoubtedly they wrote checks to the IRS, it is actually Apple’s customers who paid their tax bill. All corporations back their tax liability into the cost of their products.

    1. To add to what you and “Leo” said above:

      Apple’s “fair share” is ZERO because it is Apple’s customers, employees and stockholders are who pay the taxes. And, if and when Apple gets “subsidies” it is other taxpayers that foot that bill.

      I’d like to see direct taxation to individuals including “one bill” per year for their total tax bill. Imagine that!

      Failing that, I find “The Fair Tax” compelling- that is a national sales tax on all NEW purchases offset by a “prebate” up to the poverty line so that “necessities” like food aren’t taxed. Please take the time to learn about The Fair Tax because it isn’t what you think.

  3. The effects of the astonishing stupidity demonstrated by the left since the onset of Trump Derangement Syndrome are going to last for a very long time.

    The problem in San Francisco started a long time ago. Long before the tech boom. Try back in the 50s and 60s. You need to go back to the Fillmore Project. It was an “urban renewal” project that forced black people and their businesses out. San Francisco was embarrassed by this so they set up a bunch of zoning regulations to supposedly preserve the city’s ambiance.

    And they did. Not much has changed. Every time I’m forced to go to San Francisco, it strikes me that it’s a city in love with itself. Vs. New York, a city at war with the people. Or Los Angeles, a city with severe cognitive disorder.

    This was all in a pretty good Business Insider article…

    Searching…
    Searching…
    Searching…

    Ah… https://www.businessinsider.com/san-francisco-housing-crisis-history-2017-7

    They also banned buildings over 40 feet tall.

    And like TX says, they allow neighborhoods to object to housing developments.

    And there’s also rent control which exacerbates the situation.

    Seems to me they’re going to have to change some of those zoning laws, allow the cute cottage houses to be destroyed and put in some 10 story buildings.

    They’re going to literally have to think outside the box. This is not nuclear fusion. There are all kinds of ways to build new kinds of housing. You’d think they’d be all eager to try new stuff with all kinds of renewable energy tech… well except for the fog and rain and lack of wind. But speaking of nuclear…

    Blaming Apple seems more than unfair. Kinda dumb, but it is Bernie.

    I do not know why Apple doubled down on Northern California. They could have gone so many places. This state is managed by lower primates.

    1. Not only that, they don’t allow any significant development on the “ocean side” of the mountains like near Half Moon Bay.

      Some of those wackos out there think the solution is to build a high speed train to Hollister or even Los Banos and let “the Elite” live is SF to San Jose and let “the workers” live in Los Banos. That’ll work.

      1. I think they should tunnel due east to Patterson. 2 big tunnels for Rail and Vehicle traffic.

        Much bigger ROI than rail from Sac to LA. And people would use it.

    1. The connection is that Apple, Google, HP, etc. each brought in tens of thousands of new residents who overwhelmed the local infrastructure and housing stock. These new residents were paid salaries enormously higher than the prevailing local wages, so they were able to bid up rents and house prices to the point that the existing residents could no longer afford them or the property taxes. After displacing the locals, the new residents used their political power ($$$) to prevent the construction of high-density or affordable housing, contributing to a homelessness crisis. Long-term residents are furious about this, and are determined to punish the tech firms one way or another. Apple is scrambling to address the issue to avoid what could be much more severe consequences.

      The same thing is happening in Seattle and Austin, which are also scrambling to find a solution.

      1. More like capitalism in full force. Are we going to overlook the value of real estate, that went up as well for those who invested before the tech boom; and then got to benefit from the valuation increase? (The $50,000 house in 1965 now is worth $2 million)

        1. Sometimes it’s about more than Capitalism. Most of the time, the market should get to decide things. Sometimes, the affects of a trend are so obviously headed toward disaster that a little outside the box thinking is required. Even in places where everyone is pretty wealthy, you’re always going to have lower paying jobs that are quite necessary (think food service, utilities, even medical which are normally considered higher paying but relative to tech salaries perhaps not) . . . . these people need places to live so they can work there and contribute their skills to the economy. I’m not saying this is entirely the government’s job and maybe Apple’s investment will be followed in suit by other tech firms who recognize they inadvertently created a situation. But to ignore that there is one or to flatly reject the possibility that tax dollars ought not be collected or appropriated in ways to head off these kinds of things can be short sighted. Would be nice to see businesses that “caused” the problems fix them without government interference and to become a model for other places. This kind of thing happens all over the place and it’s not a bad thing to consider how to avoid it becoming a major issue. Maybe we can learn a thing or two here. As an outsider, I find it fascinating. To really be efficient in solving these things, we can’t fear the business or government boogiemen. We should listen to the ideas and support some common sense so that, for once, it can prevail.

  4. Bernie himself has three houses, two more than any proper old socialist needs. His most recent acquisition seems to have been funded by his grifting spouse taking advantage of a non-profit educational foundation.

        1. Nah, Ding dong, you’ve got it wong. Mr. Dingler makes some good stuff.
          Magic Carpet Landscapes are fantastic.
          In-spit of your dud post, mention of his website encouraged my visit of enrichment.
          Getting out of your box sometime might be good.

  5. The story is disappointing as well as largely irrelevant. Bernie Sanders is only supported by a minority of Democrats and will not be getting the nomination. He also does not represent what most Democrats believe despite what Republicans would like you to believe.

    1. All of the candidates are supported by a minority of the Democratic Party in the primary to this point. No one is above 50% or even 30% at this point. So, this is a logically meaningless comment that. With this many candidates remaining in the race, no one may achieve the majority in the early primary races. Trump did not win any early Republican primary contests and yet he is president.

      1. @Lottie Da
        My comment is not logically meaningless because, unlike most other Democratic candidates, there is a large percentage of Democrats that really don’t like Sanders. He will never grow his supportres above where it is now currently at.

    2. Recently reported: 70% of millennials would vote for a socialist. Up for grabs is the truthfulness of the report, the definition of socialist/ism, and how deep and how many actual Dems would embrace socialism, but there is a concrete mindset swinging towards the Grab ‘n Give proposals of Benie and Elizabeth. (Grab from the rich and Give to the rest). One has to pair Elizabeth when talking about the policies of Bernie and I’d venture to say, she does represent a fair share of Dems thinking.

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