Bernie Sanders hammers Apple’s $2.5 billion housing plan

With Apple pledging $2.5 billion to fund new methods of easing
the housing crisis in California, it would seem like everyone would
be supportive of the tech giant’s new civic-minded philosophy
toward its community.

But not Senator and Presidential candidate Bernie Sanders.

Sanders blasted Apple for what he called the company’s
“hypocrisy” of “throwing pennies at a housing crisis” that
the Vermont senator says Apple had a hand in creating. Among
Sanders comments is an accusation that Apple “is entering the
real estate lending business is an effort to distract from the fact
that it has helped create California’s housing crisis.”

In the statement that he put out late Monday, Sanders also
slammed Apple for what he said was not paying its fair share of
taxes.

“We cannot rely on corporate tax evaders to solve
California’s housing crisis,” Sanders said.,


Apple made its housing-funding plans public early Monday
. Among
the features of Apple’s proposal is the company contributing $1
billion to an investment fund for affordable housing and $1 billion
to a mortgage assistance fund for first-time homebuyers that will
be run by the state of California.

Apple also said it would make $300 million in land available to
use for building affordable housing in San Jose, and $200 million
for loan, grants, and charity programs related to housing.

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But Sanders, who as part of his presidential campaign has offered a
“Housing for All” proposal that he aims to fund with higher
taxes on households with net-worths of more than $32 million,
wasn’t buying Apple’s newfound generosity.

“Apple is the latest tech industry tax evader that has
portrayed its entry into the housing business as an act of
philanthropic altruism,” Sanders said.

Apple didn’t immediately return a request for comment about
Sanders’ statements.

 

Source: FS – All – Real Estate News 1
Bernie Sanders hammers Apple’s .5 billion housing plan