Premium

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

Avatar
28
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.

Gain unlimited access to Premium articles.

With technology shaping our everyday lives, how could we not dig deeper?

Thurrott Premium delivers an honest and thorough perspective about the technologies we use and rely on everyday. Discover deeper content as a Premium member.

Become a Premium Member Create a Free Account