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A $350 Billion “Contribution” to the U.S. Economy? No (Premium)

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A $350 Billion "Contribution" to the U.S. economy? No

Apple this week announced that it will repatriate almost $252 billion in cash that it holds abroad. But this is Apple, so it is marketing the move as a massive "$350 billion contribution to the U.S. economy." Which is not true.

"Combining new investments and Apple’s current pace of spending with domestic suppliers and manufacturers — an estimated $55 billion for 2018 — Apple’s direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple’s ongoing tax payments, the tax revenues generated from employees’ wages and the sale of Apple products," the Apple announcement notes.

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