Heh, seriously? Okay, we got a lot of reports of businesses giving their employees bonuses because of the cuts, but I don’t recall a lot of businesses reporting they were going to expand operations because of the cuts.
I guess I could google it, but do you know of any?
I recognize my OP didn’t do a good job of making this clear, but I did try to explain that better in this post:
I wanted to have a discussion around the political implications of the jobs report (which is why I posted it in Elections), not that I was trying to convince everyone here that Trump is awesome because of all the jobs that got added in February.
Apple comes to mind.
On researching this, I see the bigger story regarding Apple and taxes is that they plan to “repatriate” much of their overseas earnings, on which they will pay a record $38 billion in taxes. Funny thing is, you could argue that Trump had to raise taxes in order to prompt this, i.e. Apple goes from paying no taxes on their overseas profits (as long as they remain overseas) to being taxed at 15.5%, whether they bring the money back to the U.S. or not.
Huh, Tax-Raising Trump… who’d’a thunk it?
Anyway, not to quibble the point, Apple promises some 20,000 new jobs over the next five years, but we’ll wait and see on that. Frankly, I’m a little surprised to have to credit this to Trump - giving companies a chance to repatriate funds and take a cut at a reduced corporate-tax rate seems better than letting them just keep the funds abroad and out of reach. I’m curious why previous presidents didn’t try this, or did they?
The way this is worded I suspect you already know the answer, which is that it was done previously in 2004, and attempted again(but not passed) in 2009.
Edited to correct a date (stupid memory!) and add a link.
I’ve already got a handle on what "cherry-picking " means. A perfect example of it was your post with (incorrect) figures starting in 2011. And I suppose I could have rebutted other aspects of your claim, but it was easier and more entertaining to point out the erroneous information you posted and then watch people try to slide the goalposts back a couple of years further.
Thanks for this informative post. I learned a great deal beyond my vague recollection (that Apple had promised some additional domestic investment).
Gotcha. I didn’t recall that post, I see what you meant now.
Well, actually… no, I was not familiar with earlier American attempts to alter tax law to encourage (or mandate) the “repatriation” of overseas corporate revenues. Truth be told, before Trump brought it up, I wasn’t really aware this was an issue, I just figured most corporations would set up subsidiaries in other nations where they did business and pay taxes to those nations on the revenues generated in those nations.
I gather this was a naive, or at least uninformed view. Has, for example, Apple paid taxes to any country on the gargantuan pile-o-dough it has stashed overseas? If not, I kinda wonder why this is legal.
Anyway, if rumours are true, a big hunk of Apple’s soon-to-be-home cash will be spent on stock buybacks. As a shareholder myself (I own a whole eight-millionth of that company!), I shall be watching with some curiosity.
The U.S. has (had!) an unusual tax system, where US-based companies pay taxes on all the income they earn worldwide, regardless of where they earn it. For example, prior to tax reform, if Apple sold an iPhone in the UK the profit they earned on that sale would be taxable in the US. Of course, they could take the taxes they paid in the UK on the sale as a credit against the taxes they owed in the US.
Given this, there evolved a complicated system of tax structures where companies would defer recognizing income in the US so that they wouldn’t have to pay taxes on it until the income was recognized in the US. This led to companies accumulating large amounts of cash offshore while they deferred recognizing that income in the US. (It also led to complicated tax structures where companies wouldn’t recognize the income in the foreign country either, which upset a number of people–this is how companies ended up with effective tax rates lower than the rates of any of the countries where they sold products.)
You guys are fucked up in a number of interesting ways.
Thanks. I guess Trump was correct after all, that NBC is “lying left-wing media.” I realize you did double-check this, but what exactly was wrong with the NBC figures? Did they just use the unrevised numbers, or was it something more insidious?
Cite please. Obviously you wouldn’t have posted as you did unless you confirmed that NBC was lying, but I need a cite in case the liberals ask me for proof.
Thanks again in advance.
I don’t understand what you’re asking for here. I provided the actual numbers, from the BLS, and a link to them, earlier in this thread. The figures you cited were wrong for a number of years, but most critically for purposes of our analysis here, they understated 2017’s job growth by about 183,000 jobs. The only thing I know about your source is that you said they came from “a certain NBC page”. You didn’t provide a link, so I couldn’t confirm anything except that the figures you posted in the thread did not match the official ones from BLS.
And I doubt that even if you had that link would have explained their error or the motives behind it, so as for why they’re wrong, I’d just be guessing.
I’ll note that you’ve used the word lying several times in your post, but that’s not something I’ve accused you or NBC of in this thread. I think you were wrong, but don’t claim any insights into the reason for your being wrong. You suggested it was an innocent mistake, from copy-pasting from “a certain NBC page”, and I accept that. It certainly doesn’t meet my definition of “lying”.
It turns out that on Februrary 2 BLS did a multi-year revision of their numbers; the numbers I copied from MSM were “correct” before that date. Perhaps I was remiss in not checking for recent correction before making an off-hand SDMB post.
I’m glad we got this crucial matter straightened out! 
Yes, me too. 
I guess that post is no longer operative. 
Regards,
Shodan
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reported
Damn, bumped by spam? I figured HD was finally going to enlighten us as to the America-hating Dopers he has found wandering the Elections board.
The March jobs report was very disappointing, showing the economy added only 103k jobs. This sort of news is met with dismay by more than a few Dopers.
Furthermore, January was revised downward by 24k while February was revised upward by 13k which is close to a wash.
In aggregate, the three month period at the start of 2018 is slightly below the rolling three month average for the last five years.
What is to blame? Tax giveaway to the rich? Looming trade wars? Stormy Daniels?
I like the Calculated Risk blog for its analysis of jobs reports. He is more positive about the March report.