Posted on 12/20/2017 4:52:39 PM PST by springwater13
Expect a stampede of companies handing out bonuses, raising pay, spending on capital projects and giving to charities, with the windfall from the massive corporate tax cuts passed Wednesday.
In the hours after Congress the GOP tax cut plan, a handful of companies jumped to announce plans to share some of the proceeds on their employees and spend on infrastructure. AT&T was first out of the gate, saying it would give more than 200,000 unionized employees a special bonus of $1,000 once the tax bill is signed. The company also said it would increase its capital expenditures by $1 billion.
Both Fifth Third Bancorp and Wells Fargo followed, saying they would raise their minimum wage to $15 an hour. Fifth Third said it would also give workers a bonus, and Wells Fargo said it would give $400 million to community and nonprofit organizations next year.
Comcast, which owns CNBC parent NBC Universal, said it would pay 100,000 frontline and non-executive employees special $1,000 bonuses. The company also said it is making the move because of the FCC's recent change in broadband rules and tax reform. It also said it plans to spend well in excess of $50 billion over the next five years on infrastructure improvements.
"This is exciting stuff. This is good. This is not just a whole bunch of guys saying I can buy back a lot of stock here and jazz up my numbers through financial engineering. This is a bunch of business leaders saying we can use this tax benefit to grow our company, keep our loyal employees and assist the community," said Dick Bove, banking analyst at Vertical Group.
The corporate tax rate is being cut to 21 percent from 35 percent. Bove said banks pay an average 31 percent tax rate.
(Excerpt) Read more at cnbc.com ...
God what a bunch of histrionic little girls they are.
Ronald Reagan, thou art avenged!!
Comcast would invest $50 billion over the next five years in infrastructure towards its broadband plant and capacity in the USA.
50 billion dollars because of Trump’s tax cut and Trump killing Soros’ and Obama’s communist net neutrality.
Comcast on Wednesday announced that it will give $1,000 to over 100,000 of its employees as a result of the passage of tax-cut legislation in Congress, as well as the FCC’s repeal of net neutrality.
“Based on the passage of tax reform and the FCC’s action on broadband, Brian L. Roberts, Chairman and CEO of Comcast NBCUniversal, announced that the Company would award special $1,000 bonuses to more than one hundred thousand eligible frontline and non-executive employees,” the company said in a statement.
Roberts also announced that Comcast would invest $50 billion over the next five years in infrastructure towards its broadband plant and capacity, and our television, film and theme park offerings.
Comcast says that it expects to bring on thousands of new employees as a result of the investments. The firm says it will offer further details in its Jan. 24 earnings report.
Read more: http://thehill.com/policy/technology/365908-comcast-announces-1000-bonuses-in-response-to-tax-reform
Yes, it's "Trickle-down" economics, or more commonly referred to as:
REAGANOMICS!
yes.
Bump!
ATTENTION BUSINESS LEADERS!!! Please educate your stupider employees about how exactly this benefits their own pay and bonuses!!
Too bad Matt Lauer won’t get a grand, but the NBC staffers who have to put up with Megyn and Mika will.
Over $1,3 billion was promised to be handed out as bonuses or new equipment purchases today.
Southwest Airlines was talking a new fleet yesterday.
we’re talking a real chunk of change in the last 24 hours.
This is all about new jobs, raises, and bonuses.
Not to worry folks, the Kenyan will jump in front of a camera in the next 24 hours to claim Trump didn’t build this business climate.
Trump is a bully! How dare he give Americans a tax break.
Just wonder how much of this Trump set in action quietly behind the scenes over the past few weeks and months. My guess is a lot via some phone calls. If President Trump (I’m never going to get tired of typing those two words together) did, that is yet another example of Trump helping regular Americans, winning, and MAGA!
Great. Now throw out the Green Cards and start hiring Citizens.
It’ll largely be big companies. Small companies like the one I work for won’t do anything unfortunately.
Now Boeing won’t have to worry about moving all the new work to South Carolina either!
Thanks springwater13. So, whats the DNC talking point, soon to arrive as media spin? The tax cuts will cause inflation.
Good, I guess. I haven’t follow that move closely.
I thought the Dems thought they would give it to stockholders...I guess they were wrong — as usual.
Those Soros stooges are like “Hey man, where’s my $1,000. This sucks!”
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