Wells Fargo CEO admits he won’t use his tax windfall to create more jobs

a reply to: introvert

What's new is letting the people keep their money

originally posted by: avgguy
a reply to: angeldoll

It's actually 3% nice try though

"Meals on Wheels is a membership organization, with 5,000 community-based programs that provide services to seniors. Though the membership organization gets a small amount of federal funding ($248,000 in 2015, about 3 percent of its operating budget), the broader network that actually provides services is a diffuse group of organizations with varied sources of funding."

www.google.com...

From the next sentence in your source:

. Together, they spend $1.46 billion, 35 percent of which comes from one source of federal funding: the Older Americans Act nutrition program administered by the Health and Human Services Department.

originally posted by: Mandroid7
Your source is complete garbage.

Read the T&C's for that website. For $50 they will publish your story, but only of the story doesn't seem partisan, you can talk about anything, like our wonderful immigrants, global warming etc....

You have been scammed.

Actually, the site pays the writer $50. Check again. Still think they are trash tho.

originally posted by: avgguy
a reply to: introvert

What's new is letting the people keep their money

That is untrue. People are allowed to claim certain deductions on their taxes, just like before.

This is no different than what we have seen in the past.

originally posted by: JohnnyCanuck

originally posted by: bigfatfurrytexan
a reply to: Southern Guardian

The biggest impact of "trickle down" is investment.

But why does 'trickle-down' always smell like pee?

Shhhhh....its raining.

Any benefits the middle class gets from trickle down, will be eaten up by inflation, that's what deficit spending always brings.

www.faireconomy.org...

Your only alternative is to establish an S corp and play the game like adults. That's what I did...

www.credibly.com...

Sorry, all you salaried wage slaves are SOL unless you get with the program.

a reply to: introvert

So meals on wheels isn't 35% federally funded. The conglomerate is. Big difference

a reply to: introvert

False, people save more money under these policies than under the previous

a reply to: introvert

How much do you want to bet that the savings for the average American will last JUST long enough to where Trump can get out of office and the sudden "tax hike" (which is probably part of the tax bill to begin with) can't be blamed on him but the next president. Kind of like how the 56+ months of job growth we had under Obama is now Trump's doing in his supporters' opinions.

originally posted by: Southern Guardian
a reply to: rickymouse

Because that $7 million tax break given to Carrier last year really did a wowzer for Indiana right? Or did Carrier continue to cut and ship jobs to Mexico in the end?

How many excuses?

I think their stockholders saw that profit. And the owner/CEO/top brass.

originally posted by: 3NL1GHT3N3D1
a reply to: introvert

How much do you want to bet that the savings for the average American will last JUST long enough to where Trump can get out of office and the sudden "tax hike" (which is probably part of the tax bill to begin with) can't be blamed on him but the next president. Kind of like how the 56+ months of job growth we had under Obama is now Trump's doing in his supporters' opinions.

If I read correctly, they're supposed to "roll back" after awhile.

Dianne Feinstein complaining that tax reform won't help the rich.

a reply to: Throes

Yep I'm looking at 4k minimum myself, so it's helping my family a good deal. We vote with our dollars and purchase as much as possible from local small businesses, so it helps a lot.

Wells Fargo is pretty much history I would say anyway. The investment building by work just took the sign down out front and all 3 local bank offices are gone.

If you have a 401k through Wells Fargo that is what you want to hear. Banks are not in general job creators, but if they are successful they are more likely to make investments in companies that do make jobs.

originally posted by: Southern Guardian
Can you still picture that money trickling down?

In an interview with CNN Money, Wells Fargo CEO Tim Sloan made it clear what he plans to do with the corporation’s tax windfall — and it doesn’t benefit the average American worker.

“Is it our goal to increase return to our shareholders and do we have an excess amount of capital? The answer to both is, yes,” Sloan told CNN Money. “So our expectation should be that we will continue to increase our dividend and our share buybacks next year and the year after that and the year after that.”

And it’s not just Wells Fargo that stands to benefit. Goldman Sachs could also see a tax break worth up to $6 billion dollars from the GOP tax bill.

thinkprogress.org...

That $1.5 trillion deficit is looking like a giant bottomless pit I tell ya. There's already a wide consensus among various economic groups, individuals, that this tax plan will do little to nothing to benefit the economy as a whole let along the lower classes. This is just a kickback for the rich.... plain and simple. Not sure what more evidence people want. Straight from the horses mouth.

Gee, returning the money to the shareholders. You know the everyday people with 401ks, pensions, etc who own shares in Wells Fargo.

The economic retardation of people like the OP is what is really sad.

originally posted by: Southern Guardian
The argument isn't that this tax plan won't benefit many outside the rich. The issue is, this tax plan puts the bulk of the financial benefit on the wealthy

THEY PAY THE BULK OF THE GODDAMNED TAXES!!! Of course they will, and absolutely should, see the greatest removal of sticky little government fingers shoved into their pockets. If you're running a chicken farm and you have a few hens who don't produce any eggs versus the majority and a few who produce twice as many eggs versus the majority, guess which hens get a little extra feed and which ones find their way to the axe and then the dinner table? This is why I cannot understand the mindset of the tax and redistribute crowd... we are punishing those who actually keep this flophouse on wheels rolling along while pushing policies that keep enough folks on the dole to ensure they'll keep voting for the Meal Ticket. It's pretty damn sick and twisted and almost a form of slavery... "You keep choking down that dirt and Master will see to it that you get your meals and your housing, ya boy?" Bizarro world: The people who believe in ALL Americans' ability to pull themselves up and be a success are the bad guys while the people who have no faith in poor Americans and look down their noses at them, telling them they can't ever be a success and viewing them as little more than charity cases are the white knights. LMAO, what a GD joke.

OP: He will spend his money, on something. Strust me. ..He ain't going to eat it.

originally posted by: avgguy
a reply to: introvert

False, people save more money under these policies than under the previous

Do you have a source that does a proper comparison?

As I understand it, this tax deal is a step back to what we experienced in the 90's.

So what? He's "hoarding" money, for when? When a wheelbarrow full, buys a loaf of bread? That has happened, that is, "historically accurate". A "Tax windfall"? Really? That's money, that is his, to BEGIN WITH!