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**"Beginning in 2018, we will see benefits from the tax reform ... in the form of lower corporate tax rates," CEO Brian Moynihan said in an internal memo to employees obtained by CNBC.
President Donald Trump signed a bill on Friday that overhauls the U.S. tax code.
Bank of America will give some of its employees a $1,000 bonus, citing the tax bill that was just signed into law.**
"Sinclair Broadcast Group announced Friday it would pay a $1,000 bonus to almost 9,000 of its full-time and part-time employees after the recent passage of the GOP tax bill."
**Washington Federal**
"Seattle-based banking company Washington Federal said it would give 5 percent merit increases to all employees earning less than $100,000 annually, as well as invest in employee training and technology upgrades, and make a $5 million contribution to its main philanthropy foundation."
If you watch the fake news of CNN, MSNBC, NBC, CBS, ABC, ETC. ETC. you would believe that this tax bill only helps the Rich.
If you listen to the Liberal deception on this site, you would believe that Trump only cares about the Rich! The facts are that the wealthy might be the only ones who could possibly have tax increases as a result of losing deductions on very high wealthy mortgages, and state tax deductions, etc.
Your federal standard deuction will be doubled to $24,000 so these losses to state tax deductions will not effect most middle class families.
If you blindly swallow the outright lies from the Trump haters, all I can say is get off debate sites, because you have no clue to what is going on.
Not one Democrat voted for this GOP Tax bill! Do you know why that is? Democrats live off their welfare voting blocks, and need our tax dollars to buy those votes!
Now this Tax bill is also a huge tax cut for low income families who will pay no federal taxes on the first $24,000 of their income!
This tax bill will double the tax credits for your children!
This tax bill will drop couple's income tax brackets to 12% if you make up to $90,000!
DOES THAT SOUND TO YOU LIKE A TAX BILL THAT ONLY HELPS THE RICH?
Stop believing the outright lies from fake news!
Stop believing the outright lies from the Democrat Party!
Stop believing the outright lies from the Liberals on this debate site!
Ues your brains, see through their lies, and when your paycheck increases in Febuary, remember all the lies from the left when you vote in the next elections.
Look.. The tax bill is SOOOO generous to corporations, that they can AFFORD to give away money.. But, the giveaway has NOTHING whatsoever to do with the new tax law.
Here's the TRUTH about it that right wingers won't tell you.. IF some future congress DOESN'T make the middle class tax cuts permanent, taxes for the middle class will go UP.. IF corporations put the money in their pockets instead of creating jobs, the tax law will have been just one giant giveaway to the rich.. Finally, IF we don't grow at 4%, the ENTIRE $1.5 TRILLION is added to the debt...
Here's the TRUTH about it that right wingers won't tell you.. IF some future congress DOESN'T make the middle class tax cuts permanent, taxes for the middle class will go UP
And of course what Democrats won't tell you is that they would be permanent if Democrats had chosen to participate.
"Beginning in 2018, we will see benefits from the tax reform ... in the form of lower corporate tax rates," CEO Brian Moynihan said in an internal memo to employees obtained by CNBC.
President Donald Trump signed a bill on Friday that overhauls the U.S. tax code.
Bank of America will give some of its employees a $1,000 bonus, citing the tax bill that was just signed into law.
"Sinclair Broadcast Group announced Friday it would pay a $1,000 bonus to almost 9,000 of its full-time and part-time employees after the recent passage of the GOP tax bill."
Washington Federal
"Seattle-based banking company Washington Federal said it would give 5?percent merit increases to all employees earning less than $100,000 annually, as well as invest in employee training and technology upgrades, and make a $5 million contribution to its main philanthropy foundation."
1)We could happily tax them into oblivion as we watch them all pick up and move out of the country and actually gather less taxes because everyone is gone.
2)"Giveaways" make companies stay rather than be run off. Supply side economics works in principle, whether lefties like it or not. Reagan cut corporate taxes in similar fashion and had tremendous success.
Finally, IF we don't grow at 4%, the ENTIRE $1.5 TRILLION is added to the debt...
Quit heavily funding the UN and mindlessly supporting other countries. Then quit giving benefits to illegal aliens who aren't even citizens. The right aren't economic geniuses con. They just don't live in looney land where you spend trillions on non-Americans and foreign countries and wonder why you're broke.
AT&T;is 100% lying about those bonuses. Unions had been fighting for those for months before the tax bill was passed. They requested higher wages and the company said no but did agree to that one time bonus. THEN the tax bill came out and now theyre lying and saying the bonus was because of the tax bill when it had been agreed to for months. And even if it was from the tax bill it makes up 7% of what AT&T;is saving from the tax cut. So 93% goes right to shareholders and executives.
why lie? Because its in their best interest to make corporate tax cuts and other right wing economic plans APPEAR favorable to the middle class so they will keep voting for it thinking it to be in their best interest. AT&T;is a proven example of lying so i wouldnt be surprised if other companies did it. Keep in mind corporate profits have been at an all time high for several years. These bonuses couldve been done back in 2014
Cite that claim please. I havent seen more than a dozen companies publicly declare bonuses. And subtract 1 for At&t;'s being a blatant lie.
Also, on average these bonuses are accounting for about 15-20% of what the companies made in the tax break. In At&t;'s case the bonuses accounted for only 7% of what they made in the tax break. IF that money came out of the tax break. Which it didnt. So At&t;just reaped a massive tax cut despite making billions and they distributed 0% of it to employees.
Nobody is saying people wont benefit from whatever bonuses are offered. But in many cases the bonuses are just a cheap way for the company to appease its employees and make trump's tax plan look good because ultimately they run out the back door with most of the money.
Also, on average these bonuses are accounting for about 15-20% of what the companies made in the tax break.
And? If people get some of it, that's kind of the point, and companies making more money hurts me in no way.
Nobody is saying people wont benefit from whatever bonuses are offered.
Then thank Trump for said benefits for many.
But in many cases the bonuses are just a cheap way for the company to appease its employees
I bet their employees aren't complaining.
and make trump's tax plan look good because ultimately they run out the back door with most of the money
You're assuming that these companies don't invest any of it back into their companies, that no rich people are philanthropists, and that these companies have no economic reason to do things with said money to keep their stock holders happy. And if some rich guy somewhere makes some money, it hurts me none. So what?
And? If people get some of it, that's kind of the point, and companies making more money hurts me in no way.
Thats horribly inefficient. If the goal is worker and employee relief then cutting billions of dollars in revenue to the government to transfer only 15-20% of that money to workers is a total waste. Youd be better off not cutting taxes and just taking all of the money that would be saved and just paying every employee a stipend from that. There is no logic in passing a measure where the goal is employee relief and 75+% of the benefits go to the people who are already rich and well off.
Then thank Trump for said benefits for many.
A short term benefit in exchange for a long term net loss is not a good idea. Its like taking a loan from a loan shark with massive ballooning interest. Sure, yeah, you get a small tax cut or bonus. But what is the trade off? The trade off is a massive hole in the deficit right now. How is that going to be patched? Well paul ryan has already come out and said they want to "reform" medicare/medicaid and social security. Reform of course meaning cut.
So these workers get a one time $1000 bonus. They pay off 2 rent bills and then in a month theyre smack right back where they were and now they can look forward to LESS Social security retirement benefits.
Sweet deal. Not.
You're assuming that these companies don't invest any of it back into their companies,
Sure they invest some of it back. But massive portions of it go to massive multimillion dollar ceo bonuses and things like that.
that no rich people are philanthropists,
the majority are not
and that these companies have no economic reason to do things with said money to keep their stock holders happy. And if some rich guy somewhere makes some money, it hurts me none. So what?
It will hurt many people in different ways. It benefits mostly rich people. And puts the decision to help out workers in the hands of the companies and just hopes that they pass it on. Most of them are showing a good face by doing a small bonus when in reality most of them are making out like bandits. Dont forget there are other tax cuts in the bill aside from just the corporate rate. You also have the repeal of the estate tax which literally only helps the top 2% of americans. All of this revenue to the government lost. Which would be fine if we wanted to patch the deficit hole by cutting wasteful corporate welfare (which this basically was) or wasteful military spending or something. But no, theyre gonna go after earned benefit programs.
Corporate profits are at an all time high. They couldve been doing these bonuses all along and still make massive profits. The tax rate was entirely unnecessary but they love it because theyre making tons of money. They want people to think tax cuts for the rich are good for workers so theyre doing these small wage raises and bonuses so people defend those types of policies and vote for republicans. Meanwhile the wealth disparity in this country grows more vast
Youd be better off not cutting taxes and just taking all of the money that would be saved and just paying every employee a stipend from that.
Trump doesn't have that authority or option at his bidding.
There is no logic in passing a measure where the goal is employee relief and 75+% of the benefits go to the people who are already rich and well
Sure there is. Both employee and the company make more money. If I get a $2,500 bonus, why would I care if Bill Gates goes from $100 billion to $101 billion?So what? And if he invests in America and American business, and keeps the jobs here, even better.
Reagan implemented the same type of model, and Libsdidn't die, and the world didn't end.
The trade off is a massive hole in the deficit right now
The last two globalist clown Presidents can be thanked for that. Trump has a year under his belt without us watching the deficit climb relentlessly as in the past.
While Obama was racking up a defict the size of China, libs had nerry a rebuke. They told us we were racists, then told us how great he was, and went back to watching night talk show hosts bashing conservatives.
The last two globalist clown Presidents can be thanked for that. Trump has a year under his belt without us watching the deficit climb relentlessly as in the past.
Thanks to obama cutting the deficit in half and having 3% gdp for 26 of his 32 quarters as president
While Obama was racking up a defict the size of China, libs had nerry a rebuke. They told us we were racists, then told us how great he was, and went back to watching night talk show hosts bashing conservatives.
Obama barely passed anything that would run up the deficit. i believe youre referring to the two costly wars started by bush which he inherited.
In wars that he didnt start, nor would have ever started.
And the non-iraq/afghanistan bombs and 2nd term bombs dont account for the massive debt crisis you alluded to.
Also funny how out of one side of your mouth obama is a weak and feckless president who loves muslims and is weak on terror then when its convenient suddenly he was so overly militaristic vs terror that he doubled the debt.
So these workers get a one time $1000 bonus. They pay off 2 rent bills and then in a month theyre smack right back where they were and now they can look forward to LESS Social security retirement benefits.
Sweet deal. Not
You don't pay off two rent bills. You put the money in the bank and have a $1,000 cushion while paying your bills like normal.
My retirement is doing great. If you have a 401k plan, your retirement went up 48%. I sold off much of the extra crust and kept in about what I had prior to Trump becoming President. I made $17,000.
You don't pay off two rent bills. You put the money in the bank and have a $1,000 cushion while paying your bills like normal.
I dont think you realize how bad people are struggling. If im already having trouble paying my bills and i get $1000 that money is getting spent in an instant. Not many people will be able to enjoy the $1000 as a cushion. It will provide momentary relief from bills but the bills will far outlast the spending power of that $1000.
My retirement is doing great. If you have a 401k plan, your retirement went up 48%. I sold off much of the extra crust and kept in about what I had prior to Trump becoming President. I made $17,000.
Good for you. Most people dont have a 401k. Your argument at this point is that it worked for you so it works period. That isnt even remotely close to true
I dont think you realize how bad people are struggling. If im already having trouble paying my bills and i get $1000 that money is getting spent in an instant
Oh no one understands financial struggle more than I do. I changed my spending habits, got an education, made some money, and made wise financial decisions. If you are broke, you can't afford the internet.
Oh no one understands financial struggle more than I do. I changed my spending habits, got an education, made some money, and made wise financial decisions.
Of course it doesn't work for everybody. People stay in dead end jobs, don't have ambition, and rather than put even $5 in a 401k or save their tax returns, they load up on $5 Red bulls, and go buy a phone for a thousand dollars.
Of course it doesn't work for everybody. People stay in dead end jobs, don't have ambition, and rather than put even $5 in a 401k or save their tax returns, they load up on $5 Red bulls, and go buy a phone for a thousand dollars.
Translation: if you are poor then it's your fault.
Translation: Even poor people can and do save money and climb into a good situation. Poor people who buy expensive crap, which is most, have no excuse. Anyone can put a few dollars back and pay themselves first. They are broke because of their own financial stupidity.
The fact that corporate profits and worker productivity can be at all time highs and half the country makes 30k or less a year is a testament to that fact. If the rich dependably redistributed wealth we would not have the wealth disparity that we do
Yeah we would. People are given money all the time and blow it in minutes. It would "bail out" very few, and most would be just as broke as before the redistribution.
Secondly, why does a drug dealing, jobless thief deserve anything redistributed his way? Just cause? He'll snort it up his nose in an hour.
No citation is needed to support basic common sense. A philanthropist would by very definition give his money away to those less fortunate, hence preventing him from ever becoming rich.
Let's face it, Trump lied (and lied and lied and....) to U.S. about his tax bill.: I'm making a lot of my rich friends mad at me; It's not going to help ME at all; This is the most bigly tax "cut" in history!; All Americans are going to get a YUGE Christmas present. (....and lied and lied and ...!) Conservatives are STILL lying about what they have done to the American taxpayer ...and lying and lying .....
"Beginning in 2018, we will see benefits from the tax reform ... in the form of lower corporate tax rates," CEO Brian Moynihan said in an internal memo to employees obtained by CNBC.
President Donald Trump signed a bill on Friday that overhauls the U.S. tax code.
Bank of America will give some of its employees a $1,000 bonus, citing the tax bill that was just signed into law.
"Sinclair Broadcast Group announced Friday it would pay a $1,000 bonus to almost 9,000 of its full-time and part-time employees after the recent passage of the GOP tax bill."
Washington Federal
"Seattle-based banking company Washington Federal said it would give 5?percent merit increases to all employees earning less than $100,000 annually, as well as invest in employee training and technology upgrades, and make a $5 million contribution to its main philanthropy foundation."
