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Originally Posted by Chi-Town
Apple is sitting on $250 billion in cash. And how many of their products are made here? Just some food for thought.
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"...tax cuts, which slashed the corporate tax rate from 35% to 21%, boosted corporate profits overnight for many big firms. Combined with the new provision that caused U.S. companies to repatriate billions in overseas earnings, many companies are awash in cash.
But, says Michael Patcher, an analyst at Wedbush Securities, “The tax law didn’t do anything to provide an incentive to employers to create jobs. There’s nothing in there that would suggest that employers have a particular incentive to hire more people or pay the ones that they have more money.”
How Companies Are Spending the Trump Tax Cuts | Money
"Apple, as usual, is leading the pack with a record-breaking $100 billion stock buyback. "
All of this makes the stocks more valuable and benefits anyone who has a large stake in the company....ie, the executives.
I am out of my element with this, but my concern, and if I should not be concerned please correct me.
The buybacks were predicted immediately on the new tax bill, but the dramatic increase it caused in our deficit is still growing and it was supposed to come down.
That deficit worries me more than anything......it is something we pass on to our children and grandchildren and I recall all the worrying when it was so much lower