Corporate America's Response to Tax Reform (so far)

So here is a rundown of companies that has so far responded to the Tax Reform bill. Article Link

AT&T:

AT&T announced they would “invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees.

That is a huge investment into the U.S. Also the $1k bonus probably made the Union happy, that would be a first.

Comcast:

Company would award special $1,000 bonuses to more than one hundred thousand eligible frontline and non-executive employees. Roberts also announced that the Company expects to spend well in excess of $50 billion over the next five years investing in infrastructure to radically improve and extend our broadband plant and capacity, and our television, film and theme park offerings.

This is amazing that a corporation is willing to invest $50 Billion that with a "B".

Boeing:

$100 million for corporate giving, with funds used to support demand for employee gift-match programs and for investments in Boeing’s focus areas for charitable giving: in education, in our communities, and for veterans and military personnel. $100 million for workforce development in the form of training, education, and other capabilities development to meet the scale needed for rapidly evolving technologies and expanding markets. $100 million for “workplace of the future” facilities and infrastructure enhancements for Boeing employees.

Wells Fargo:

Wells Fargo will be raising their minimum wage to $15 an hour and donating $400 million to charity and philanthropy.

So I guess companies can afford $15 an hour wage if the U.S. Government lets up on corporate tax rates.

Fifth Third:

Over 13,000 employees of Fifth Third Bancorp will get a $1,000 bonus. They also announced that they are raising their minimum wage to $15 an hour.

With the outcome we have seen so far why this has not happened already. I guess corporations are not as evil as most think (unless it's an ESOP, then yeah it just evil).

A question, is this part of the $3 trillion that I have heard that is being held outside the U.S. by U.S. firms just to get around the corporate tax rate?
Article

American companies looking to avoid paying domestic tax rates are holding about $2.6 trillion in overseas earnings, a number that has been rising steadily for years, according to new research from Capital Economics.

~Morpheus

If anyone paid attention, they would know this tax cut was a tax cut for the wealthy and middle class. The disagreement is some of us think its a good idea as an incentive for the corps to invest in the United States again. Then there are some that think it will just be a large tax break for the wealthy and they continue to move jobs overseas. As you point out, so far it looks like Trumps plan with the taxes to stimulate the economy is working with some major corps. Hopefully that trend continues and the middle class can finally feel some of the weight lifted off their shoulders. We still have a long way to go though.

You basically have to be totally brain dead to think that higher tax rates improve the economy

Id say youre equally braindead if ascribing to the : Well corporate america is happy; so we will be too.

I remember the day on ATS where people (rightly) didnt just do what corporate america told them to. Wow, so employees will get 1000 bucks.. once... so? That 1000$ will be gone in a month, and then what? Slightly higher rates each year until - wait for it- middle america is paying MORE than that 1000 bucks they got in 2017. What will all the executives be getting? What about bank regulation rollbacks as well... If you dont see the writing on this wall, theyve already won. Its not left/right. Its the 1% vs the rest of us. And youre giving them their win.

Being a reasonable person I will take whatever I can get and all the disgruntled libs can send a check to me to get over their pain

originally posted by: mikell
Being a reasonable person I will take whatever I can get and all the disgruntled libs can send a check to me to get over their pain

Yes, we aren't hearing from the libs anymore about how their 401Ks took a hit are we? No, and what have they done with their windfall.

a reply to: toysforadults


Riddle Me this----------->

Why when the subject of raising the minimum wage to $15.00 was broached it was met w/a bunch of non-positive crap but when these banks mention raising their minimum wage to $15.00/hr. it is just great??

Is it because at that time there was a black Muslim™ married to transgender in the big chair??

originally posted by: JimNasium
a reply to: toysforadults


Riddle Me this----------->

Why when the subject of raising the minimum wage to $15.00 was broached it was met w/a bunch of non-positive crap but when these banks mention raising their minimum wage to $15.00/hr. it is just great??

Is it because at that time there was a black Muslim™ married to transgender in the big chair??

It could be because of Obama, but I think it's more about this tax bill coming from the Republicans and not the Democrats. It's less about the numbers and what is financially-beneficial, and more about which team made the score.

I also have to laugh at people that think this corporate "response" to the tax reform bill is somehow earth-shattering. It's not. It's not new.

Corporations donate tons of money to charity each year. Why?

Tax write-offs...the irony.

a reply to: introvert


I'd bet that WellsFargo™ still has "Bail Out $$$" remaining from when TheBanksters™ were at TheTrough™ and huddled together under the free flowing $$$ from US Taxpayers.

ThirdFifth™ at least has paid back 99% of their bailout handout $$

It's only the beginning. Methinks the democrats have placed themselves so far on the wrong side of this they might not ever find a way back.

originally posted by: bknapple32
Id say youre equally braindead if ascribing to the : Well corporate america is happy; so we will be too.

I remember the day on ATS where people (rightly) didnt just do what corporate america told them to. Wow, so employees will get 1000 bucks.. once... so? That 1000$ will be gone in a month, and then what? Slightly higher rates each year until - wait for it- middle america is paying MORE than that 1000 bucks they got in 2017. What will all the executives be getting? What about bank regulation rollbacks as well... If you dont see the writing on this wall, theyve already won. Its not left/right. Its the 1% vs the rest of us. And youre giving them their win.

So what would you have done to make the US attractive to corporations that create jobs for more taxpayers?

I know Canada is worried since yeaturday, we were soaking up a lot capital flight that was rampant through the Obama admin. We are going to have to sweeten our deal to corporations if we don't want to lose the investment we have enjoyed here for a decade.

originally posted by: bknapple32
Id say youre equally braindead if ascribing to the : Well corporate america is happy; so we will be too.

I remember the day on ATS where people (rightly) didnt just do what corporate america told them to. Wow, so employees will get 1000 bucks.. once... so? That 1000$ will be gone in a month, and then what? Slightly higher rates each year until - wait for it- middle america is paying MORE than that 1000 bucks they got in 2017. What will all the executives be getting? What about bank regulation rollbacks as well... If you dont see the writing on this wall, theyve already won. Its not left/right. Its the 1% vs the rest of us. And youre giving them their win.

Exactly!

When the oilfield tanked a some 3-4 years ago (or started to), my company (HUGE Company) said... "No more raises for now" and laid off more than half of our workforce globally. Hey, I'm still happy to have a job here! So no complaints then.

Couple years of no raises... My rent still went up every year.

Finally, this year we got a 3% raise. Hey... I'm happy. Much of the company didn't get any raise but based on what we do, they were happy to give us that.

Still... my rent went up far more than that 3% in the last 3 years. I can only sit back and hope that it gets better and believe that now that things are picking up, everything will catch up. So sure I'm happy with what I have but being happy with it doesn't mean it's enough.

I see the same thing happening here with the whole tax BS. I was hopeful that the original idea was going to push through but nope.... they took some of that back and went right back to the same old brackets.... and it was supposed to be less confusing. hah!