It’s mostly nonsense, but the economy really is doing well.
Corporate America is beginning to routinely frame any kind of positive announcement in ways that Republicans say is evidence their tax bill is already boosting the economy. The truth, however, is that the economic trends at work long predate the passage of the tax bill — or even Donald Trump’s inauguration. The real change is political.
— Paul Ryan (@SpeakerRyan) January 24, 2018
Back in October 2016, for example, Apple announced plans to make $16 billion worth of capital expenditures in fiscal year 2017, up from $12.8 billion in the previous year. Apple is both the world’s biggest company and one of its most iconic and recognizable brands. These facts — duly reported in the company’s annual Form 10-K filed with the Securities and Exchange Commission — were widely noted in the business and technology press but weren’t considered to be a major political story.
By the same token, when Walmart announced a wage increase in February 2015 and then another one in January 2016, everyone got the basic story: The years-long process of economic recovery was underway, and a company forced to share a bit more money with its workforce wanted to milk the moment for whatever PR opportunity it was worth.
Apple’s announcement on Wednesday that it “expects to invest over $30 billion in capital expenditures in the US over the next five years” (not in any clear way an increase over its prior pace), by contrast, was immediately framed by the company itself as linked to the recent Tax Cuts and Jobs Act. It was then embraced by President Trump as Read More Here