Posted on 12/20/2017 6:29:38 PM PST by Olog-hai
Hours after landing a massive tax windfall, AT&T, Comcast, Wells Fargo and Boeing — among other major companies — announced plans Wednesday to share a fraction of their bounty with workers.
The moves pleased President Donald Trump, who has claimed his $1.5 trillion in tax cuts that largely favor the wealthy and businesses would ultimately help the middle class.
But Democratic lawmakers and corporate watchdogs say the move is a public relations stunt that pales in comparison to the profits the companies’ shareholders and executives will reap because of the lower tax rates. The stock market, as well, has risen on the belief the savings will largely go to investors, rather than workers.
Trump was quick to celebrate an announcement by Dallas-based AT&T that it would pay a $1,000 bonus to 200,000 workers once the tax bill passed Wednesday is signed into law. His praise came as the Justice Department is suing to block a proposed $85 billion merger between communications company and Time Warner, a deal Trump has objected to as “not good for the country.”
Outside the White House, Republican lawmakers clapped and cheered as Trump highlighted AT&T’s planned bonus payments. “That’s because of what we did,” Trump said. “So that’s pretty good. That’s pretty good.”
The president suggested that other companies would be making similar announcements, saying “We’re going to see something that’s very special.” …
(Excerpt) Read more at hosted.ap.org ...
I guess it's time for a windfall profits tax on tax windfalls.
-PJ
Someone should tell these fools how ridiculous they look in calling economic revitalization, higher wages, bonus money, jobs, etc. a stunt. I hope this is their campaign strategy for 2018.
Once again the Associated Presstitutes are providing artillery for their Marxist Masters.
That’s right. Whenever labor union guys complained about shareholders making profits over employees, I would remind them that their pension plans are profiting.
Yup - exactly. Middle class 401ks, IRAs, and other stock investments going UP is good for retirements!
Wait, weren’t the middle class wage earners lives supposed to be over today?
Are they sure they’re getting more money?
Bwa ha ha ha...
No more news. Just editorials. One stupider than the last.
Solid reporting. Objective analysis.
Or at least the very best this cesspool of ink swillers can do.
In 6 of the last 8 years, there were no annual merit increases where I work.
2017 was no different. If we were to get a merit increase, it would come in September. Once again, it didn’t.
Then, the effects of the Trump presidency and the possibility of tax reform, changed everything.
It has been announced that merit increases will be reinstated after the first of the year.
And my 401k has NEVER done better than it has since the election of 2016.
They are going to get blown out in 2018. BIGLY !
The gentry are worried that the peons are encroaching on their exclusive hidey-holes.
Ergo the Tax Smackdown Act of 2017.
Josh Boak (same writer) - 'Why Trump’s budget plan wouldn’t likely accelerate growth' May 23, 2017
They keep wishing the intarwebs had an actual memory hole.
Republicans (most) cheer for workers to get more money.
Democrats want non-workers to get more money.
Makers vs. Takers
Only rich people have stocks. I have a 401k.
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