“While some of these efforts were indeed in the works, Washington enabled most of this job-creating plan to occur by changing the tax code to allow companies to return capital to all stakeholders,” Cook told Cramer in a call on Wednesday, shortly after the tech giant announced plans to repatriate billions in overseas cash.
Cramer noted that Cook has been pushing for reforms like this for some time. Reflecting on Cook’s comments, Cramer said Thursday that he felt the Apple CEO was reaffirming “the idea that this is a new regime, and certainly there’s lots of money to go around.”
“It’s good for the country,” Cramer added.
“Tim told me about that,” said Cramer. “He said, ‘Look the people very much want to participate in the upside of the company and this is a longer-term way than a one-time cash bonus.'”
The investment “is bigger than the Marshall Plan,” said Cramer, whose charitable trust owns shares of Apple.
Cramer was referencing a 1948 initiative named for then-Secretary of State George Marshall in which the Truman administration devoted billions to rebuild Western Europe after World War II.
A lot of what Apple wants to do is “redo the country,” Cramer said. “They want to teach people code. … They are very big thinking.”
— CNBC’s Anita Balakrishnan and Elizabeth Gurdus contributed to this report.
Tim Cook tells Cramer: New tax law helped pave the way for Apple’s massive investment plan