Gifted a $1 trillion tax windfall from Congress, US companies only pledge $2 billion for workers

Anybody feeling those benefits trickling down? If not don't bother waiting as it's not looking promising:

Donald Trump’s presidency has been marked by turmoil, and his approval ratings are low. But US CEOs seemed eager to show their support for his first major piece of legislation, the “Tax Cuts and Jobs Act” that cleared Congress on Wednesday (Dec. 20). A clutch of big US banks and telecoms pledged to hand out millions in bonuses off the back of tax reform.

qz.com...

That's lovely. A pledge to pass down the benefits of these tax cuts to the little man. We need this.

The amount announced so far is a small fraction of the total tax savings the bill is expected to hand to corporations in the coming years. Overall, lowering corporate taxes is expected to save companies $1 trillion over the next decade.

Earlier this year, the White House Council of Economic Advisers (CEA) said that dropping the corporate income tax rate to 20% (the new bill makes it 21%) would increase household incomes by at least $4,000 annually. Most economists, including Kimberly Clausing of Reed College, dispute those “wildly optimistic numbers,” arguing that there’s a tenuous relationship between lower corporate taxes and higher wages.

qz.com...

I suppose we'll just 'hope' those corporations that didn't pledge will trickle down their contributions eventually right? AT&T were among the corporations celebrated and waived around as a perfect example of corporations passing the benefits down to their workers with $1,000 bonuses. This was before we learned of their plans to cut thousands jobs at the start of the 2018 year. As for the creation of jobs, the main aim or motivation for these tax cuts? Well we had the CEO of Wells Fargo confirm no job creation would come out of these tax cuts from their end. We've also learned that the Tax bill itself has many loopholes for corporations shipping jobs overseas so we can forget about accountability from big business on these tax cuts.

Trickle down right? It smells a little off to me.

Why don't you pledge your tax return?

Oh, wait...You're not obligated to do so.

originally posted by: Southern Guardian

That's lovely. A pledge to hand out bonuses or create more jobs. We need this. We ned companies to demonstrate that they'll be putting back into the economy, putting back into their works, the $billions handed to them in the form of tax cuts.

Not sure what you are looking for in some kind of instantaneous change...this is something we would look at a year or two down the line to see what impact it has had. I already see some at my work, but I would expect jobs will take time and people don't typically get off cycle raises either. A job basically pays what a job is worth, so where you will see the change is in more jobs and that means more upper level jobs are needed too. It is hard to get a promotion if there is no growth to promote to.

a reply to: projectvxn

I'm also not a billionaire. I don't employ thousands of workers. I'm getting much of a benefit from these cuts either. I'm not getting $ millions in tax cuts.

How are you feeling about these tax cuts? $billions going to the wealthiest? To the corporations? Instead of going back into the country, back into much needed wasted infrastructure?

We'll just continue hoping it'll all trickle down right project?

It's going to trickle down any moment now, right?

a reply to: Southern Guardian

Come, come.

You know this is to make US corps more competitive with industries in other countries. If the corps pay more it would only make them less competitive. So the moral of the story is if a corp pays it's help more, they are less competitive. Or race to the bottom.

This is all bull poopy.

Prices are not set on manufacturing costs, they are set on what the market will bear. That is why corps around the world will kill to get into the US market. It is where the money is.

Don't forget about the telecom companies having another huge win by repealing net neutrality, they've already started the process of slowing our internet down unless we want to hurdle their pay walls to get the same services we've already had since the inception of the internet.

With Net Neutrality Dead, Proposed Bill Promises Internet "Fast Lanes"

So much winning!****








****For corporations and the already mega rich.

a reply to: Southern Guardian

Billions aren't going anywhere. They're just not being taken.

Your complaints show a fundamental lack of understanding how taxes work

Just curious.

During the last eight years under the last president when he raised taxes.

Anyone get a check from it?

Record taxes were collected.

Just EXACTLY what do we have to show for it other than snipping bout the tax cut 9 years later?

originally posted by: Southern Guardian
a reply to: projectvxn

I'm also not a billionaire. I don't employ thousands of workers. I'm getting much of a benefit from these cuts either. I'm not getting $ millions in tax cuts.

How are you feeling about these tax cuts? $billions going to the wealthiest? To the corporations? Instead of going back into the country, back into much needed wasted infrastructure?

We'll just continue hoping it'll all trickle down right project?

It's going to trickle down any moment now, right?

Yeah!!!

Those people that employ thousands of workers, they are the bad guys!

They should pay 80 90 Or 100 percent of their income the greedy heels.

Now me, I'm entitled to as much tax savings as I can get.

a reply to: 3NL1GHT3N3D1

Why are you parroting the media?

Can't you see this is just dividing us?

(did I do that right?)

a reply to: projectvxn

Billions aren't going anywhere.

I'm sure a good chunk of it will find its way into offshore banking accounts where it won't be circulated back into the economy.

Anybody get that feeling that nearly all the posters on ATS are so driven by political bias that everything that they post is extremely unlikely to be true?

I do.

a reply to: Southern Guardian

It's nice to see it's equal.

a reply to: Southern Guardian

I agree with you thread, something is broken. But just ignoring the facts is easier for some.

a reply to: Grambler

I've honestly never even heard of inverse before finding this article. Have you?

Fact is telecom companies are already looking to charge us more for services we've had for years, locking websites behind their pay walls. Are you ready to pay $5+ more a month just to visit sites that you already had access to before?

What's funny to me is you even quoted the part where it says 1 trillion over 10 years...but for you to be happy they need to pony up a good chunk more than 2 billion on day one...never mind that their returns will be spread over 10 years. I would say 2 billion out the gate the first week of the bill being passed is pretty damn good. If we see anything close over the next 10 years this reform will have done more for the population than any other I remember in my 31 years of living.

You can be honest...do you complain cause Trump was behind it? We won't judge you too much I promise...

originally posted by: 3NL1GHT3N3D1
a reply to: Grambler
Are you ready to pay $5+ more a month just to visit sites that you already had access to before?

No, I'd rather gamble.

I'd like to pay 5$ for a chance to visit those websites.

a reply to: 3NL1GHT3N3D1

I'm sure a good chunk of it will find its way into offshore banking accounts where it won't be circulated back into the economy.

Maybe.

But small and midsized corporation will probably be able to use much of that money to grow. Not everyone is an evil, greedy guy. This cartoonish caricature that characterizes business does no one any favors.

Overall, lowering corporate taxes is expected to save companies $1 trillion over the next decade.

$100 billion per year.

That is going to do wonders for the middle class's IRA's and 401ks and other investment accounts.

Trick down people.

a reply to: RickyD

How does lowering corporate taxes benefit people if there is not job growth (we will see) and no wage growth ( we will see
)?

The cuts are to make the corps more competitive with other countries. Giving pay raises to employees defeats the purpose of this whole thing. This is to make corporations profits grow larger, this means they are more successful and better, somehow.


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