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Kudlow: Apple CEO Gave Glowing Praise to Trump for GOP Tax Cuts

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Apple CEO Tim Cook reportedly told President Donald Trump in a meeting in the Oval Office on Wednesday that he loves the Republican tax reform law passed in December.

Larry Kudlow, Trump’s top White House economic adviser, conveyed to CNBC on Thursday it was the first thing the Apple chief said when he and the president met.

“He loves the tax cut and tax reform,” Kudlow said. “He said it’s great for business. And Apple is going to be building plants, campuses, adding jobs, lots of business investment. That was the first point he made to President Trump.”

Cook also offered his thoughts to Trump about trade issues with China, which undoubtedly included the topic of intellectual property theft by the Chinese.

The Tax Cuts and Jobs Act dropped the corporate tax rate from 35 percent — the highest in the industrialized world — to 21 percent, which is below the average.

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After passage of the law, Apple announced in January plans to invest $350 billion in the U.S. economy, create 20,000 new jobs and open a new campus over the next five years.

Additionally, the company said it would be bringing virtually all of its $250 billion cash earned overseas back into the U.S.

According to CNBC, Apple is the nation’s largest taxpayer.

In addition to cutting the corporate rate, the tax reform law encouraged corporations to bring cash back to the U.S. by paying a one time repatriation fee of between eight and 15 percent.

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The New York Times reported in January that Apple — which had 94 percent of its total cash of $269 billion outside the U.S. — planned to pay a $38 billion tax payment to move its cash back into the country.

Trump took great satisfaction in the move, saying it was exactly what he predicted would happen under the new tax law.

Bloomberg reported that Apple was among 500 companies that announced bonuses, pay raises and/or new benefits following passage of tax reform.

Apple told its employees they would each receive $2,500 worth of stock in the company.

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Apple has more than 120,000 employees worldwide.

Cook was among Trump’s guests at the state dinner for French President Emmanuel Macron on Tuesday and was given the honor of sitting at the head table with the two national leaders.

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Randy DeSoto has written more than 2,000 articles for The Western Journal since he joined the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book "We Hold These Truths" and screenwriter of the political documentary "I Want Your Money."
Randy DeSoto is the senior staff writer for The Western Journal. He wrote and was the assistant producer of the documentary film "I Want Your Money" about the perils of Big Government, comparing the presidencies of Ronald Reagan and Barack Obama. Randy is the author of the book "We Hold These Truths," which addresses how leaders have appealed to beliefs found in the Declaration of Independence at defining moments in our nation's history. He has been published in several political sites and newspapers.

Randy graduated from the United States Military Academy at West Point with a BS in political science and Regent University School of Law with a juris doctorate.
Birthplace
Harrisburg, Pennsylvania
Nationality
American
Honors/Awards
Graduated dean's list from West Point
Education
United States Military Academy at West Point, Regent University School of Law
Books Written
We Hold These Truths
Professional Memberships
Virginia and Pennsylvania state bars
Location
Phoenix, Arizona
Languages Spoken
English
Topics of Expertise
Politics, Entertainment, Faith




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