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Penn Financial CEO Matt McCall, U.S. Business & Industry Council Research Fellow Alan Tonelson debate whether Apple’s practices hurt or help Ame...
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Hello everybody I'm Gerri Willis and apple executive once -- it's not our job to fix America's economy it's our job to make great products.
But candid Q -- have -- apple simply never tried some say it's the latter and that makes apple well on American joining in tonight's debate.
Alan tunnels and research fellow for the US business and industrial council and that McCall the CEO of -- financial.
Well the via -- I wanna start with this idea of whether apple is on American.
I mean think about it.
Almost all of its seventy million iphones thirty million ipads sixty million other products sold last year not a one of them made.
In America Matthew first is apple on American both.
-- dozen American and late apple pie I mean really think about apple I think America.
I just in -- -- all the people in area where album products almost every person in Ager had some -- -- apple products on them or owns a blend of apple product.
To me yes it is American how much money that this company brings back -- puts back in the US economy how many people it does employee here in the United States as well.
Look at the Apple -- stores that they have out there that I mean it's to me this is as America's it comes into occupant or story -- -- out of the garage and now look at.
Allen is sick.
-- if we're talking about companies.
That -- to America's productive capacities.
That -- had to America America's innovation capacities that contribute lots of highways jobs in this country.
Apple doesn't pass that test that all effective -- miserably.
Because apple not only recently but for decades has been offshoring but not only production jobs -- places like China.
But increasingly jobs in research development and engineering and process designed also.
And again apple has been doing this not only for its very latest products apple has been doing -- since since -- since it began making PCs back in the 1980s.
All right well I wouldn't tell you why we think this is so important.
Apple of course.
Ties with Exxon -- -- for being the biggest company in terms of market cap.
Let's take a look at the number of jobs this company provides some 8783000.
Only 50000.
Of those.
Our jobs and stores right in here in America now compared to Exxon 80000 jobs.
They might think well okay Jerry.
What about a big time employer we've known over time like GM an auto maker.
202000.
Workers GE 287.
Of course none of this compares with Wal-Mart with 2.2 million.
Workers at the end of the day apple is the future of America in my view it's a big technology company coming up with new ideas every single day.
Why can't they make some of these products in America.
They probably could make some of -- America but if you're running a company as Steve Jobs was when he's alive.
And now Tim Cook you have to look at the bottom line look at your shareholders are stakeholders and what are you try to do for that person you try to make.
The most money as possible without really you know -- anybody issues anything -- this is not unethical.
We live in a global economy's not the same as it was thirty or forty years ago.
So the fact that apple can make the iPad much cheaper overseas and bring up that can give you an I an opportunity to afford that I packed chariot that -- has made here United States to be much more expensive are kind of generic included a four Mary Alice -- through them.
The problem is that.
What this country needs most the walls to get genuinely healthy.
Is not more consumption.
It's not more great products coming in from overseas it's the ability to produce to create earnings.
Two to live within its own means and apple.
Brings us in exactly the opposite direction what -- again apple is not ending on that to America's productive capacity it's not getting on that to America's innovation.
We think that will either win win win win the event will come through certainly not want to become Apple's jobs and produce goods here unites states.
Apple is obviously it's not company and most it's not a publication off and their -- is not a lot of how exactly does.
Not it is not -- job.
To look out for American economic interest but that's why.
We make a huge mistake when we allow companies like apple.
And all the other offshoring multinational companies to -- US international economic policy because in fact.
The free trade deals the offshoring deals which is what they really work that apple -- so many of its other count reports pushed and lobbied for so hard.
Have created this situation where -- -- even that I cannot make its products -- on the topic on the table here.
So there's about eleven billion in taxes -- could be paid in this country to reduce our debt and our deficit.
That's not -- here because apple is paying that money overseas what do you -- -- Well I think that's because the way our tax code here is United States they are forced again to be the best company that they can be the most profitable they're forced to do something that is legal.
They're doing something legal then they're they're they're making the most money for their stakeholders.
And another go back -- Allen saying you know OK sure apple yes we're not most.
They're actively a -- for our economy.
The same time in the -- innovation out innovation innovation was Steve Jobs in -- -- garage treating one of the largest corporations in a world.
-- about a work and the knowledge is increasingly going overseas that does not benefit the US economy.
And what apple basically does is it gives us great products -- what -- me when their meat overseas when the range in the -- overseas to a very great extent.
When they're increasingly designed oversee is also.
That does not contribute -- currency will shut the water -- zero for details.
Step back -- shut the bar is however a lot we've been talking about specifically and even a glowing color doesn't sit although we talk.
We can talk about specific policy responses probably another time.
But but don't deny the facts that I just stated and in fact you've implicitly accepted them -- How so -- you're not challenging them.
-- -- -- -- -- What's that a -- that these individuals overseas I disagree I disagree don't think renovating restaurants over things -- US economy I'll I know that apple -- what is your basis for saying that both candidates -- Europe's what is your basis for saying this apple PR.
Apple -- hard not -- -- about -- what's -- basis Johnson.
That no different US generally -- -- -- there I let you know he's actually you're only if we let our future economic like that is -- calories and the economy.
You're -- don't tell me about a global economy the global economy that we live in today was a large part created by the short -- lobbying.
Our priorities of US multinational and that happened there largely responsible for sinking this country back into record levels of -- to -- our -- down but I don't think that's let's talk about that another time okay.
You know it's a fascinating conversation and I and I really think that a lot of people out there would like to see some of those 700000 jobs right here in the US today.
Are you guys great debate thank you so much for coming on you that is both stated your case is very well thank you so --
