Tax Cuts

POSTED BY: THGRRI
UPDATED: Thursday, April 17, 2025 01:12
VIEWED: 22355
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CAPTAINCRUNCH

Sunday, February 18, 2018 6:02 PM

Quote:
Originally posted by JEWELSTAITEFAN:
Quote:
Originally posted by JEWELSTAITEFAN:
News said Chipolte gave their employees a $1,000 bonus check because of the Tax Reform improvements.
So these are bartenders, cooks, and waitresses, right?
I keep hearing about these Tax Reform Bonus Checks. From $1,000 to $4,000 as examples.
Anybody know how these are working? Are the companies just issuing company wide bonuses, just because they are happy with Tax Reform?
Are the companies merely issuing one check for the January difference in the Employee's Tax withholding? The new Tax withholding tables for 2018 did not come out by the end of January, so the excessive withholding was still at the 2017 rate.
Or did companies issue the whole year's worth of reduced withholding in one shot, and then will continue with the 2017 withholding rate for the remainder of 2018?
Does anybody know exactly what this is about? Are all of these reported companies doing the same thing, or variations?

I'm wondering if a $1,000 bonus check is for an employee getting a Tax Reform pay raise of $12,000 for the year, or $8,000/yr? Or only $1,000 increase per year? Or is it unrelated to annual wages?

Why don't you ask your employer?

JEWELSTAITEFAN

Wednesday, February 21, 2018 4:55 AM

Quote:
Originally posted by JEWELSTAITEFAN:
Quote:
Originally posted by 6IXSTRINGJACK:
The more I think of that the less I even understand what you're getting at. If an employee was getting a "pay raise" from a tax break, why would the company they work for give them more? I'm not getting your connection here.

Do Right, Be Right. :)
you sound like you are repeating my question. I'm not getting the exact connection either.

Use DuckDuckGo to search "Tax Reform bonus checks" - many hits, some say 40 companies have, other hits say 170 companies have.
Maybe also search "Tax Reform windfall"

http://money.cnn.com/2018/01/11/news/economy/tax-law-raises-bonuses/in
dex.html

http://money.cnn.com/2018/01/11/news/economy/tax-law-raises-bonuses/in
dex.html

http://www.washingtonexaminer.com/1000-employee-bonus-check-credits-tr
ump-tax-cut-and-jobs-act/article/2645981

AT&T
http://www.foxbusiness.com/markets/att-to-give-employees-1000-bonuses-
after-trump-signs-tax-bill

https://finance.yahoo.com/news/gop-tax-bill-t-boeing-214700499.html

http://www.washingtonexaminer.com/boom-40-companies-give-trump-tax-ref
orm-bonuses-up-to-2000/article/2644910

http://newyork.cbslocal.com/2018/01/05/tax-reform-credited-for-company
-bonuses/

http://dailysignal.com/2018/01/16/164-companies-credit-tax-reform-for-
bonuses-and-pay-raises/

https://www.atr.org/list

Indiana specifically:
https://www.atr.org/indiana

https://www.usatoday.com/story/money/2018/01/11/list-companies-paid-bo
nuses-boosted-pay-since-tax-bill-passed/1023848001/

Home Depot up to $1,000:
https://www.cnbc.com/2018/01/25/home-depot-to-award-hourly-employees-1
000-bonus-due-to-tax-reform.html

Another $1,000:
http://www.breitbart.com/big-government/2018/01/17/software-company-ce
o-credits-trump-tax-cut-jobs-act-1000-bonus-checks/

Fiat Chrysler
http://fortune.com/2018/01/12/fiat-chrysler-bonus-tax-reform/

https://townhall.com/tipsheet/katiepavlich/2017/12/22/heres-a-list-or-
companies-giving-worker-bonuses-aftee-tax-reform-n2426226

Tyson Foods
https://www.agweb.com/article/tyson-foods-tax-reform-bonus-checks-apne
ws/

I saw some of those mentioned were Walmart, PepsiCo, MetLife, Boeing.

6IXSTRINGJACK

Wednesday, February 21, 2018 6:46 AM

I don't know about the other companies, but I know that Walmart announced these bonuses the very same day that it closed 63 stores in the country without giving anybody a single day notice they were doing it.

Why they would have given bonuses that same day can be left open for debate, but I think it was a PR move to deflect from putting a few thousand Americans out on their asses without any advance warning.

Regardless of the actual reason here, I think it pretty gauche to attribute that bonus to the tax reform. Surely eliminating the cost of operating 63 facilities and paying all of those workers saved them many times more money than any tax reform did this year, in both the short term and the long term.

Do Right, Be Right. :)

JO753

Friday, March 2, 2018 4:48 PM

https://www.nytimes.com/2018/03/01/opinion/taxpayers-scammed-republica
ns.html?action=click&contentCollection=Politics&module=Trending&version=Full®ion=Marginalia&pgtype=article

Paul Krugman op ed on the bogus tx cut.

----------------------------
DUZ XaT SEM RiT TQ YQ? - Jubal Early

http://www.7532020.com

SECOND

Friday, March 2, 2018 5:15 PM

Quote:
Originally posted by JO753:
https://www.nytimes.com/2018/03/01/opinion/taxpayers-scammed-republica
ns.html?action=click&contentCollection=Politics&module=Trending&version=Full®ion=Marginalia&pgtype=article

Paul Krugman op ed on the bogus tx cut.

Taxpayers, You’ve Been Scammed
Paul Krugman, March 1, 2018
www.nytimes.com/2018/03/01/opinion/taxpayers-scammed-republicans.html

So you go out for dinner with a wealthy acquaintance. “I’ll take care of everything,” he says, and orders you a hamburger. Then he orders himself an expensive steak and a bottle of wine, which he doesn’t share. And when the waiter comes with the check, he points at you and says, “Charge it to his credit card.”

Now you understand the essence of the Trump tax cut, signed into law a little over two months ago.

The key thing you need to know is that right now the U.S. government has no business cutting taxes. We need more revenue, not less. Why? The federal government, as an old line says, is a giant insurance company with an army. Most of its costs come from Social Security, Medicare and Medicaid — and all three programs are becoming more expensive as ever more baby boomers reach retirement age. This means that unless we cut back sharply on benefits that middle-class Americans count on, we will need to raise more revenue than in the past.

JO753

Friday, March 2, 2018 7:29 PM

U O! The forum haz boundry break out agen (or still?).

----------------------------
DUZ XaT SEM RiT TQ YQ? - Jubal Early

http://www.7532020.com

SECOND

Friday, March 2, 2018 8:27 PM

Quote:
Originally posted by JO753:
U O! The forum haz boundry break out agen (or still?).

Yet even before the tax cut, federal tax receipts were looking weak for an economy with low unemployment and a rising stock market — for example, far lower as a percentage of G.D.P. than the tax take during the Clinton boom of the 1990s, and even a bit lower than they were at the end of the Bush-era expansion. The tax cut will push them lower still. Something will have to give.

And we already know what will give, if Republicans get their way: programs that benefit working Americans. In fact, the usual suspects like Paul Ryan were talking about the need for “entitlement reform” — meaning cuts in Medicare and Medicaid — to reduce deficits even as they were passing a huge tax cut that will make those deficits much worse.

Hence my analogy about the guy who “gives” you a hamburger, then bills it to your credit card. Ryan celebrated the tax cut with a tweet about a teacher saving $1.50 a week on her taxes; that’s like saying you should feel grateful for a “gift” that’s actually being charged to your own credit card. How’s that $75-a-year saving going to look when the teacher finds out that, partly because of that tax cut, her mother’s Medicare plan has been converted into an inadequate voucher system and Medicaid won’t pay for her father’s nursing home care?

Meanwhile, about your companion’s steak dinner: Most of the tax cut actually consisted of huge tax breaks for corporations, which is in effect a big tax cut for stockholders. And while many Americans own a bit of stock via their retirement accounts, even if you include these indirect holdings, more than 80 percent of stocks are owned by the wealthiest 10 percent of the population. So on the face of it, the wealthy are giving themselves a big gift, and sending the bill to the middle class.

Now, the tax cut’s defenders insist that it won’t really work that way, that the benefits of lower corporate taxes will trickle down to workers instead. How’s that supposed to happen?

Well, the theory is that lower corporate taxes will draw in lots of money from overseas, which corporations will invest in new plants and equipment, which will drive up the demand for labor, which will raise wages. And to be fair, there’s probably something to this theory — something, but not very much.

First of all, even if the process were to work as advertised, it would take a long time — probably decades. Even the most optimistic analyses suggest that there would be little effect on wages for the first few years, which means that for now what looks like a tax break for the wealthy is, in fact, a tax break for the wealthy.

Second, the story relies on a long chain of events with multiple weak links. For example, corporations with monopoly power won’t see lower taxes as a reason to invest more; they’ll just take the money. Meanwhile, there’s growing evidence that big employers are using their power to suppress wages; cutting their taxes won’t change that fact. So even in the long run we shouldn’t expect a lot of trickle-down.

But wait — weren’t there a lot of stories about companies using the tax cut to give their workers bonuses? Yes, there were — but only because the news media let themselves get played. Most of those bonuses would have happened anyway: In an economy with low unemployment, there are always some companies deciding to pay a bit more to attract workers. But companies had every incentive to pretend that the tax cut was responsible, if only to curry favor with the Trump administration.

And in any case the bonus hype was out of all proportion to the reality. So far, we’ve seen about $6 billion in bonuses versus more than $170 billion in stock buybacks, that is, handing money to wealthy stockholders. And money spent on buybacks is money that isn’t being invested in plants and equipment, the supposed point of the tax cut.

So the message to middle-class taxpayers is, if you think you were helped by the tax cut, think again. Donald Trump and his allies pretended to

JEWELSTAITEFAN

Saturday, March 3, 2018 12:40 AM

Quote:
Originally posted by second:
Quote:
Originally posted by JO753:
U O! The forum haz boundry break out agen (or still?).
Yet even before the tax cut, federal tax receipts were looking weak for an economy with low unemployment and a rising stock market — for example, far lower as a percentage of G.D.P. than the tax take during the Clinton boom of the 1990s, and even a bit lower than they were at the end of the Bush-era expansion. The tax cut will push them lower still.

Most of the tax cut actually consisted of huge tax breaks for corporations, which is in effect a big tax cut for stockholders. And while many Americans own a bit of stock via their retirement accounts, even if you include these indirect holdings, more than 80 percent of stocks are owned by the wealthiest 10 percent of the population. So on the face of it, the wealthy are giving themselves a big gift, and sending the bill to the middle class.

Now, the tax cut’s defenders insist that it won’t really work that way, that the benefits of lower corporate taxes will trickle down to workers instead. How’s that supposed to happen?

Well, the theory is that lower corporate taxes will draw in lots of money from overseas, which corporations will invest in new plants and equipment, which will drive up the demand for labor, which will raise wages. And to be fair, there’s probably something to this theory — something, but not very much.

Second, the story relies on a long chain of events with multiple weak links. For example, corporations with monopoly power won’t see lower taxes as a reason to invest more; they’ll just take the money. Meanwhile, there’s growing evidence that big employers are using their power to suppress wages; cutting their taxes won’t change that fact. So even in the long run we shouldn’t expect a lot of trickle-down.

But wait — weren’t there a lot of stories about companies using the tax cut to give their workers bonuses? Yes, there were — but only because the news media let themselves get played. Most of those bonuses would have happened anyway: In an economy with low unemployment, there are always some companies deciding to pay a bit more to attract workers. But companies had every incentive to pretend that the tax cut was responsible, if only to curry favor with the Trump administration.

And in any case the bonus hype was out of all proportion to the reality. So far, we’ve seen about $6 billion in bonuses versus more than $170 billion in stock buybacks, that is, handing money to wealthy stockholders. And money spent on buybacks is money that isn’t being invested in plants and equipment, the supposed point of the tax cut.

www.nytimes.com/2018/03/01/opinion/taxpayers-scammed-republicans.html

Such a scam, sez the rabid Libtards.
Corporate Stock Buybacks (increasing or inflating the value of the stocks, which are part of the Executive Compesation Package, and therefore inflating income of Executives who are voting for the Buybacks), and bonuses for workers. That is just horrible.
Compared to Obamanomics era nonstop Buybacks without a single round of Mass bonuses, which made gains of the wealthy far outdistance income of the workers during Bobo's Regime. That is what Libtards clearly prefer.
If they didn't like Buybacks so much, why did they spend 8 years perpetuating them?

And yes, second did copy over today's posts from the Thread For Democrats Only.

THGRRI

Saturday, March 3, 2018 4:23 AM

Mueller asking if Kushner's business interests influenced Trump foreign policy

http://www.msnbc.com/msnbc/watch/mueller-asking-if-kushner-s-business-
interests-influenced-trump-foreign-policy-1175268931949

T

6IXSTRINGJACK

Sunday, March 4, 2018 10:04 AM

Quote:
Originally posted by second:
Quote:
Originally posted by JO753:
https://www.nytimes.com/2018/03/01/opinion/taxpayers-scammed-republica
ns.html?action=click&contentCollection=Politics&module=Trending&version=Full®ion=Marginalia&pgtype=article

Paul Krugman op ed on the bogus tx cut.
Taxpayers, You’ve Been Scammed
Paul Krugman, March 1, 2018
www.nytimes.com/2018/03/01/opinion/taxpayers-scammed-republicans.html

So you go out for dinner with a wealthy acquaintance. “I’ll take care of everything,” he says, and orders you a hamburger. Then he orders himself an expensive steak and a bottle of wine, which he doesn’t share. And when the waiter comes with the check, he points at you and says, “Charge it to his credit card.”

Now you understand the essence of the Trump tax cut, signed into law a little over two months ago.

The key thing you need to know is that right now the U.S. government has no business cutting taxes. We need more revenue, not less. Why? The federal government, as an old line says, is a giant insurance company with an army. Most of its costs come from Social Security, Medicare and Medicaid — and all three programs are becoming more expensive as ever more baby boomers reach retirement age. This means that unless we cut back sharply on benefits that middle-class Americans count on, we will need to raise more revenue than in the past.

Calling the US Government an insurance company isn't selling this to me. It's not that I'm arguing with the sentiment... actually, I applaud Krugman for calling a spade a spade. That is EXACTLY what the government has become over time.

This is a HUGE problem.

Insurance costs are rising at a rate that people can't keep up with anymore. The answer is not more taxes on the people. We need a major overhaul of the entire healthcare system, and the insurance industry as-is needs to be completely gutted.

Do Right, Be Right. :)

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