Apple today announced a plan to dedicate $ 2.5 billion to combat the California housing crisis. After that announcement, Democratic presidential candidate Senator Bernie Sanders slammed Apple and said the company helped create the housing crisis by not paying its fair share of the tax.
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In a statement released tonight, Sanders says that Apple's $ 2.5 billion commitment to the California housing crisis is an act of "hypocrisy." He accuses Apple of "throwing a penny on a housing crisis" that it "helped create."
The Vermont senator explains that Apple's announcement is an effort to "distract from the fact" that it played a role in creating the problem:
"Apple's announcement that it enters the real estate lending business is an attempt to distract that fact that it has helped create California's housing crisis. We can't count on corporate tax evaders solving California's housing crisis. "
Sanders also points out that Apple is just the latest" tech industry tax factor "trying to make" its entry into the housing industry that a philanthropic act of altruism. ”Facebook and Google have both announced similar, but smaller, investments in the housing crisis.
Sanders states that Apple's announcement today is "to raise $ 800 million in taxpayer subsidies and keep a quarter of a billion trillion dollars of profits offshore, to avoid paying billions of dollars in taxes."
"When we defeat Donald Trump, we will get companies like Apple to start paying their fair share, so we can finally start making huge long-term investments that guarantee Americans affordable housing."
Like The Hill for his part, Senator Sanders recently explained his Housing for All plan, which $ 2.5 trillion would provide housing for all US residents, funded by a wealth tax on the top tenth of a percent of revenue.
not the first time Bernie Sanders has sparred with Apple. In 2016, Sanders asked Apple to make its products in the United States and pay its fair share of taxes.
Apple's $ 2.5 billion commitment $ 1 billion was praised by California Gavin Newsom, who called it an "outstanding financial commitment." Apple's commitment includes $ 1 billion in affordable housing investment, $ 1 billion in mortgage loans for first-time buyers, and $ 300 million worth of Apple land opened to affordable housing projects.
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