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The public relations spin doctors are working overtime at Apple this week.

The tech giant just announced that it will pay $38 billion to the U.S. Treasury in taxes brought home from overseas—and “create” some 20,000 new jobs. It pledged to invest $350 billion in the U.S. over the next five years and give employees $2,500 in restricted stock units.

That’s all spin.

What Apple really unveiled were plans to collect a massive windfall from the GOP’s corporate tax handout. This was a pay-to-play political scam at its ugliest—and the rest of us are the chumps.

Read the full article in Fortune.

Josh Hoxie directs the program on Opportunity and Taxation at the Institute for Policy Studies.