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Trump Voters Winners In First 24 Hours Of Tax Reform

As we’ve pointed-out on several occasions the just-passed tax reform package isn’t perfect, and it isn’t the bill we would have written, but in less than 24 hours it is starting to do what President Trump promised – encouraging private sector wage growth in the U.S. economy.

Reuters reports that AT&T, the No. 2 U.S. wireless carrier, said it will pay $1,000 bonuses to more than 200,000 employees and invest an additional $1 billion in the United States in 2018, once the tax reform bill is Trump tweetsigned into law.

AT&T said in a statement that the employees eligible for the bonus are all “union-represented, non-management and front-line managers.”

In other words – Trump voters.

The company has more than 250,000 employees in all. The bonuses will cost the company at least $200 million, but the precise amount is not yet known, the company said.

Reuters reports Wells Fargo & Co followed suit, saying the bank will hike minimum hourly pay to $15 an hour in March, up 11 percent from its previous minimum. It will also offer new restricted stock awards to 250,000 employees.

Regional U.S. bank Fifth Third Bancorp said it would raise the hourly wage for nearly 3,000 of its employees to $15 and give a one-time bonus of $1,000 to more than 13,500 employees, which its CEO said was made possible by the corporate tax cut.

The company said it expected to distribute the bonuses by year-end, assuming Trump signs the bill by Christmas – which is not certain - and that the pay increases would go into effect once the bill became law.

The cable industry also joined the wave of corporate announcements linked to the passage of the tax bill reported The Washington Post. Comcast chief executive Brian Roberts said the company would be giving out $1,000 bonuses to “eligible frontline and non-executive employees,” otherwise known as Trump voters.

Comcast also said it would be investing “well in excess of $50 billion” over the next five years into its infrastructure, media businesses and theme parks, in light of the legislation and of the Federal Communications Commission's recent decision to deregulate the broadband industry.

Meanwhile, our friend Ian Mason of Breitbart reports that the Boeing Company, America’s largest aerospace firm, tweeted Wednesday that the just passed Tax Cuts and Jobs Act will allow them to spend $300 million on “employee-related and charitable investment.”

“For Boeing, the reforms enable us to better compete on the world stage and give us a stronger foundation for the investment in innovation, facilities and skills that will support our long-term growth.”

According to a later news release, the exact allocation of the $300 million is still being worked out, but the broad strokes are as follows:

$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.

“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 explained.

President Trump summed-up the results in a tweet: “The Tax Cuts are so large and so meaningful, and yet the Fake News is working overtime to follow the lead of their friends, the defeated Dems, and only demean. This is truly a case where the results will speak for themselves, starting very soon. Jobs, Jobs, Jobs!”

The Fake News media can kvetch about “trickle down” economics all they want, but $1,000 bonuses to Trump voters – frontline workers and managers – and companies announcing $15 an hour minimum wage is a huge political win for President Trump, and a big quality of life win for America’s hard-pressed working families.

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The Tax bill is a SCAM.......in 10 years everyone loses except the wealthy and big business.
We lost our deductions and ten years we have a HUGE Tax increase with no deductions..
I will Never vote for a single republican again on the federal level.