Great Again? US corporations think so as many pass on bonuses and raises in anticipation of tax bill
Great again, US corporations think so. After the Republicans (remember out of 236 Democrats in Congress not one voted for tax reform) passed sweeping tax reform US corporations responded. Boeing, AT & T, Comcast and Wells Fargo are among those that have already passed some of the coming savings on to employees in the form or raises and bonuses.
The Democrats would have you to believe that corporations are evil and not looking out for the little guy. That the tax cuts are just for the wealthy and tax cuts for the rich. This of course is their mantra every time tax cuts are tried. But it is funny how every twenty years or so a Republican comes along with the courage to propose tax cuts and the economy goes into crazy growth. The Democrats and Universities still talk about trickle down economics like it is a product of Satan.
Of the evil US corporations AT & T quickly responded to the tax cuts by giving all 200,000 employees a $1,000 bonus. “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.” Critics and Democrats will say that this is a small percentage of the windfall these companies will receive.
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The thing that Democrats and Socialist (pretty much one in the same) never seem to grasp or acknowledge is that US corporations and businesses are in business to business to make a profit. And when business are making a profit they need more employees. They need more equipment. They need more technology. They need more electricity to keep their lights on. They need more fuel to run their plant equipment. They need lawn care for their corporate headquarters. All of these things create jobs. Bernie Sanders and his Socialist ideas do not create one job. They create dependency and this is what Democrats crave.
Comcast said later on Wednesday that it will give $1,000 bonuses to more than 100,000 employees. Wells Fargo said it will boost its minimum wage to $15 an hour, as well as donate $400 million to nonprofit and community organizations. Major government contractor Boeing said it will provide an additional $300 million for job-training, facility upgrades and charitable giving.
Boeing said it would move forward with $300 million in investments as a result of the new tax law, including $100 million in employee training and education and $100 million to enhance Boeing facilities as part of its “workforce of the future” initiative.
“Each of these investments benefits Boeing’s most important strength – our employees – and reflects the real-time impact and economic benefit of the reforms,” Boeing CEO Dennis Muilenburg, said in a statement.
Are US corporations going to benefit from the tax cuts? Absolutely but for years they have been taxes at one of the highest rates in the world 36%. This has caused many large US corporations to build new plants overseas and in Mexico where they are not punished for success. President Trump and the Republicans made a bold move and all Americans will benefit and Trump is keeping his promise to Make America Great Again.