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Apple’s $350bn pledge is all smoke and mirrors

Apple is bringing a pile of cash home to roost, to the tune of $38 billion – in a sizable victory for President Trump’s tax reforms implemented last year. This one-off tax payment is part of a larger projected contribution of $350 billion by Apple to the US economy over the next five years, whereby smoothing over its shady tax practices of the past could assist Apple in completing a major home soil acquisition. Netflix, perhaps? Don’t hold your breath. Apple plans to build a monster new campus in the US to create 20,000 jobs at data and tech support centers, costing around $30 billion, and has promised to increase its innovation fund for manufacturers from $1 billion to $5…

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