Apple just set a new record – and the GOP tax cuts were a big part of it

What happened?

Apple just bought back $23.5 billion of its own stock in a record buyback program that left its shareholders flush with cash. The company is clearly a big winner from the GOP tax reform bill and plans to continue its stock buyback program as well as to invest in a new Apple campus that will create more jobs.

Remind me:

In January, Apple announced it would invest $350 billion into the U.S. economy over the next five years, crediting the GOP tax plan as a catalyst. The company estimates that its investment will result in 20,000 new jobs.

"There are two parts of tax bill, there's a corporate piece and an individual piece," Apple CEO Tim Cook said at the time. "I do believe the corporate tax side will result in job creation and a faster growing economy."

Glenn’s take:

Anyone who fears a thriving, free-market society that creates jobs should take cover – Apple is making it rain. On today’s show, Glenn specifically called out House Minority Leader Nancy Pelosi, who threatened in February that the GOP tax plan would have dire effects for Americans.

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