SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Presidential Candidate Bernie Sanders speaks during the AFL-CIOs first-ever Presidential Summit in Philadelphia. (Photo: Preston Ehrler/SOPA Images/LightRocket via Getty Images)
Bernie Sanders Says Apple's $2.5 Billion Home Loan Program a Distraction From Hundreds of Billions in Tax Avoidance That Created California Housing Crisis
"We cannot rely on corporate tax evaders to solve California's housing crisis."
Nov 03, 2019
Sen. Bernie Sanders on Monday sharply criticized an announcement from tech giant Apple that the company would invest $2.5 billion in helping to asssuage the effects of California's housing crisis--a crisis that Apple has contributed to by driving prices up as the company has expanded in the San Francisco area.
"Apple's announcement that it is entering the real estate lending business is an effort to distract from the fact that it has helped create California's housing crisis--all while raking in $800 million of taxpayer subsidies, and keeping a quarter trillion dollars of profit offshore, in order to avoid paying billions of dollars in taxes," Sanders, a candidate for the Democratic nomination for president in 2020, said in a statement.
"Bernie Sanders comes out swinging on Apple's housing announcement," tweeted ReCode reporter Teddy Schleifer.
\u201cBernie Sanders comes out swinging on Apple\u2019s housing announcement.\n\n\u201cApple is the latest tech industry tax evader that has portrayed its entry into the housing business as an act of philanthropic altruism.\u201d\u201d— Teddy Schleifer (@Teddy Schleifer) 1572900901
"Bernie is the first 2020 candidate I've seen to weigh in on this," added Schleifer.
Sanders, in his statement, said that relying on company's like Apple to solve the issue is not a solution--no matter how much money the tech giant is throwing at the problem.
"Today, more than 134,000 Californians are homeless and renters need to earn $34.69 per hour to afford the average two-bedroom apartment," said Sanders. "We cannot rely on corporate tax evaders to solve California's housing crisis."
As Common Dreams reported, Sanders unveiled his "Housing for All" plan in September, promoting an end to homelessness, national rent control, and the construction of 10 million new homes.
The senator referred to the plan on Monday, promising Apple that it would contribute to solving the issue, though perhaps not in the way the company had in mind. The proposal calls for $2.5 trillion in spending over the next decade--which would "be fully paid for by establishing a tax on the wealthiest top one-tenth of one percent of Americans," according to the Sanders campaign.
"When we defeat Donald Trump, we are going to make companies like Apple start paying their fair share, so that we can finally start making massive long-term investments that guarantee Americans affordable housing," said Sanders.
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Sen. Bernie Sanders on Monday sharply criticized an announcement from tech giant Apple that the company would invest $2.5 billion in helping to asssuage the effects of California's housing crisis--a crisis that Apple has contributed to by driving prices up as the company has expanded in the San Francisco area.
"Apple's announcement that it is entering the real estate lending business is an effort to distract from the fact that it has helped create California's housing crisis--all while raking in $800 million of taxpayer subsidies, and keeping a quarter trillion dollars of profit offshore, in order to avoid paying billions of dollars in taxes," Sanders, a candidate for the Democratic nomination for president in 2020, said in a statement.
"Bernie Sanders comes out swinging on Apple's housing announcement," tweeted ReCode reporter Teddy Schleifer.
\u201cBernie Sanders comes out swinging on Apple\u2019s housing announcement.\n\n\u201cApple is the latest tech industry tax evader that has portrayed its entry into the housing business as an act of philanthropic altruism.\u201d\u201d— Teddy Schleifer (@Teddy Schleifer) 1572900901
"Bernie is the first 2020 candidate I've seen to weigh in on this," added Schleifer.
Sanders, in his statement, said that relying on company's like Apple to solve the issue is not a solution--no matter how much money the tech giant is throwing at the problem.
"Today, more than 134,000 Californians are homeless and renters need to earn $34.69 per hour to afford the average two-bedroom apartment," said Sanders. "We cannot rely on corporate tax evaders to solve California's housing crisis."
As Common Dreams reported, Sanders unveiled his "Housing for All" plan in September, promoting an end to homelessness, national rent control, and the construction of 10 million new homes.
The senator referred to the plan on Monday, promising Apple that it would contribute to solving the issue, though perhaps not in the way the company had in mind. The proposal calls for $2.5 trillion in spending over the next decade--which would "be fully paid for by establishing a tax on the wealthiest top one-tenth of one percent of Americans," according to the Sanders campaign.
"When we defeat Donald Trump, we are going to make companies like Apple start paying their fair share, so that we can finally start making massive long-term investments that guarantee Americans affordable housing," said Sanders.
Sen. Bernie Sanders on Monday sharply criticized an announcement from tech giant Apple that the company would invest $2.5 billion in helping to asssuage the effects of California's housing crisis--a crisis that Apple has contributed to by driving prices up as the company has expanded in the San Francisco area.
"Apple's announcement that it is entering the real estate lending business is an effort to distract from the fact that it has helped create California's housing crisis--all while raking in $800 million of taxpayer subsidies, and keeping a quarter trillion dollars of profit offshore, in order to avoid paying billions of dollars in taxes," Sanders, a candidate for the Democratic nomination for president in 2020, said in a statement.
"Bernie Sanders comes out swinging on Apple's housing announcement," tweeted ReCode reporter Teddy Schleifer.
\u201cBernie Sanders comes out swinging on Apple\u2019s housing announcement.\n\n\u201cApple is the latest tech industry tax evader that has portrayed its entry into the housing business as an act of philanthropic altruism.\u201d\u201d— Teddy Schleifer (@Teddy Schleifer) 1572900901
"Bernie is the first 2020 candidate I've seen to weigh in on this," added Schleifer.
Sanders, in his statement, said that relying on company's like Apple to solve the issue is not a solution--no matter how much money the tech giant is throwing at the problem.
"Today, more than 134,000 Californians are homeless and renters need to earn $34.69 per hour to afford the average two-bedroom apartment," said Sanders. "We cannot rely on corporate tax evaders to solve California's housing crisis."
As Common Dreams reported, Sanders unveiled his "Housing for All" plan in September, promoting an end to homelessness, national rent control, and the construction of 10 million new homes.
The senator referred to the plan on Monday, promising Apple that it would contribute to solving the issue, though perhaps not in the way the company had in mind. The proposal calls for $2.5 trillion in spending over the next decade--which would "be fully paid for by establishing a tax on the wealthiest top one-tenth of one percent of Americans," according to the Sanders campaign.
"When we defeat Donald Trump, we are going to make companies like Apple start paying their fair share, so that we can finally start making massive long-term investments that guarantee Americans affordable housing," said Sanders.
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.