tech

Apple plans new U.S. campus; to pay $38 bil in foreign cash taxes

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By Stephen Nellis

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They would do shareholders much better by staying overseas.

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Apple on Wednesday estimated it would spend $350 billion in the United States over the next five years.

That seems like an enormous amount of money to spend in 5 years, even with tax payments. Really unbelievable tbh.

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It did not, however, say how much of the plan was new or how much of its $252.3 billion in cash abroad - the largest of any U.S. corporation - it would bring home. In addition to the $38 billion in taxes it must pay, Apple has run up $97 billion in U.S.-issued debt to pay for previous share buybacks and dividends.

People fear Apple will repatriate just enough money to pay back these debts

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