Tax Plan

[Baker Boy 1,485]

Boeing

 

The aerospace and defense company immediately announced $300 million in investments after the bill passed, with $100 million toward corporate giving including employee gift-match programs, $100 million toward workforce development, training and education and $100 million toward enhancing Boeing’s workplaces.

 

"On behalf of all of our stakeholders, we applaud and thank Congress and the administration for their leadership in seizing this opportunity to unleash economic energy in the United States," Boeing (BA) President and CEO Dennis Muilenburg said in a statement. "It's the single-most important thing we can do to drive innovation, support quality jobs and accelerate capital investment in our country."

 

Comcast

 

The Philadelphia-based telecom corporation said it would award $1,000 bonuses to more than 100,000 non-executive employees. In addition, Comcast (CMCSA) NBC Universal Chairman and CEO Brian L. Roberts said the company plans to spend more than $50 billion in the next five years on infrastructure investments that are expected to create "thousands of new direct and indirect jobs."

 

In a press release, Comcast said the initiatives were "based on the passage of tax reform and the FCC's action on broadband."

 

Fifth Third Bancorp

 

The Cincinnati-based banking corporation said it would raise the minimum hourly wage for all employees to $15 per hour and dispense $1,000 bonuses for more than 13,500 workers. The company says tax reform was directly responsible for the initiatives.

 

“It is good for our communities, employees and Fifth Third Bank (FITB),” Fifth Third President and CEO Greg Carmichael said.

 

Wells Fargo

 

Wells Fargo & Company (WFC) said it would raise the minimum wage for its team members to $15 per hour and earmark $400 million for philanthropic initiatives in 2018. Some $100 million of that total will be committed to boosting small businesses, while $75 million will support neighborhood revitalization efforts.

 

“We believe tax reform is good for our U.S. economy and are pleased to take these immediate steps to invest in our team members, communities, small businesses, and homeowners,” said Wells Fargo President and CEO Tim Sloan. “We look forward to identifying additional opportunities for Wells Fargo to invest, as we continue to execute our business strategies and provide long-term value to all our stakeholders."

 

AT&T

 

The telecom giant said Wednesday that more than 200,000 of its employees, including union-represented and non-management workers, will be eligible for a $1,000 bonus. The checks will be in the mail in time for the holidays if Trump finalizes the tax bill with his signature before Christmas. AT&T (T) also said it will invest $1 billion more than expected in the U.S. in 2018, once the cuts are final.

 

“Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,” AT&T Chairman and CEO Randall Stephenson said in a statement. “This tax reform will drive economic growth and create good-paying jobs.”

http://www.foxbusiness.com/markets/2017/12/20/gop-tax-bill-at-t-boeing-among-corporations-rewarding-employees.html

[jerryskids 5,206]

https://www.cnbc.com/2017/12/20/fifth-third-bancorp-unveils-bonuses-minimum-wage-hike-after-tax-bill-passage.html

 

 

Companies handing out bonuses, raising their employees' minimum wage to $15.00.................. Pathetic that these ahole Dems are getting in front of the camera and saying this only benefits the rich.

 

Someone needs to loop those all together when 2018 Congress/Senate Races come up.

 

You just know Trump lined these up in anticipation of the tax plan passing. The Dems are bringing a butter knife to a gun fight against him. MAGA!

[RaiderHaters Revenge 3,585]

this is awesome

 

WTG AT&T, Comcast, Boeing, and the Banks, its only DAY 1!!!!!

 

more to follow

screw your leftist fight for 15, let the corporations show they are the good guys. There are the ones providing the damn jobs

 

FWIW, there are some employees at these places who just saw a 100% pay raise almost overnight

[patweisers44 697]

We now know part of what went on in those meetings early in trumps tenure, when he called all those corporate big shots to the White House.

 

[parrot 789]

Should regular people like you and I look into making ourselves pass-through corporations? This is what Ive been hearing but apparently theres some point you want to reach income-wise before its likeky to do much for you

 

I've been looking that the pass-through provisions a little more. It's pretty interesting what they did, they just walled it off to service firms for the most part. So if you were lucky enough to inherit a bunch of real estate from your dad, you get a fat tax break. But if you've worked hard to become a doctor, lawyer, accountant, plumber or "any business where the principal asset of the business is the reputation or skill of one or more of its employees", you don't get that tax break. I thought this was supposed to be about jobs? Law firms, accounting firms, medical practices... those are labor intensive areas that tend to be very good-paying jobs. What's the logic in this other than the lost revenue when lawyers, doctors, and accountants started making sure that all of their compensation was "business income" rather than wages? Isn't this the definition of the government arbitrarily picking winners and losers?

 

ETA: Full disclosure; there is an income threshold of $157,500. Why not just apply that income threshold to all pass-through income regardless of industry?

 

ETAA: Anyone who reads these pass through provisions and says with a straight-face that they simplified the tax code is on crack.

[Baker Boy 1,485]

MAGA

 

Lets see if this works better than the Dems policy of tax and spend our way to prosperity.

[IMMensaMind 459]

this is awesome

 

WTG AT&T, Comcast, Boeing, and the Banks, its only DAY 1!!!!!

 

more to follow

screw your leftist fight for 15, let the corporations show they are the good guys. There are the ones providing the damn jobs

 

FWIW, there are some employees at these places who just saw a 100% pay raise almost overnight

Bill Kristol is so whackadoodle TDS that he's complaining about this.

[Baker Boy 1,485]

To a man with a hammer, everything looks like a nail. Mark Twain

[IGotWorms 3,315]

 

I've been looking that the pass-through provisions a little more. It's pretty interesting what they did, they just walled it off to service firms for the most part. So if you were lucky enough to inherit a bunch of real estate from your dad, you get a fat tax break. But if you've worked hard to become a doctor, lawyer, accountant, plumber or "any business where the principal asset of the business is the reputation or skill of one or more of its employees", you don't get that tax break. I thought this was supposed to be about jobs? Law firms, accounting firms, medical practices... those are labor intensive areas that tend to be very good-paying jobs. What's the logic in this other than the lost revenue when lawyers, doctors, and accountants started making sure that all of their compensation was "business income" rather than wages? Isn't this the definition of the government arbitrarily picking winners and losers?

 

ETA: Full disclosure; there is an income threshold of $157,500. Why not just apply that income threshold to all pass-through income regardless of industry?

 

ETAA: Anyone who reads these pass through provisions and says with a straight-face that they simplified the tax code is on crack.

Dang, sounds like Im focked

[drobeski 3,061]

Democrats have proven time and time again that they hate America and Americans

[jerryskids 5,206]

PFB or other people complaining about this plan for high-tax states, please help me to understand this: under the previous plan, since you could deduct your high state tax on federal, you were essentially paying a lower fed percentage than a similar wage earner in a low-tax state. It seems to me that we should all pay the same towards the feds, then if you want to pay higher state taxes for things that don't affect me whatsoever, go for it but don't expect me to subsidize it on the fed end.

 

What am I missing?

[Hardcore troubadour 12,653]

PFB or other people complaining about this plan for high-tax states, please help me to understand this: under the previous plan, since you could deduct your high state tax on federal, you were essentially paying a lower fed percentage than a similar wage earner in a low-tax state. It seems to me that we should all pay the same towards the feds, then if you want to pay higher state taxes for things that don't affect me whatsoever, go for it but don't expect me to subsidize it on the fed end.

 

What am I missing?

You make sense on the surface, but factor in States like NY give more to the Feds than they get back, even with the deduction. So someone from those states can claim they are the ones doing the subsidizing, so they have to in turn pay higher state taxes.

[mobb_deep 917]

PFB or other people complaining about this plan for high-tax states, please help me to understand this: under the previous plan, since you could deduct your high state tax on federal, you were essentially paying a lower fed percentage than a similar wage earner in a low-tax state. It seems to me that we should all pay the same towards the feds, then if you want to pay higher state taxes for things that don't affect me whatsoever, go for it but don't expect me to subsidize it on the fed end.

 

What am I missing?

Youre still being taxed twice on the same income under the new plan. Just not as much as someone in a high tax state.

 

And we (people in NY, Cali, etc) dont want to subsidize the crappy states that pay nothing into the fed, but you dont seem too concerned with that... South Carolina gets back 8$ for every dollar sent to the fed.

[lickin_starfish 1,482]

How about NY lower it's focking taxes? Bow bout dah?

[cyclone24 1,814]

Youre still being taxed twice on the same income under the new plan. Just not as much as someone in a high tax state.

 

And we (people in NY, Cali, etc) dont want to subsidize the crappy states that pay nothing into the fed, but you dont seem too concerned with that... South Carolina gets back 8$ for every dollar sent to the fed.

Ironic considering I don't want to subsidize individual people who pay nothing into the fed.

 

See how fun that is?

[Filthy Fernadez 2,696]

Ironic considering I don't want to subsidize individual people who pay nothing into the fed.

 

See how fun that is?

Congrats sir on winning this thread. What prize would you like? A spiral sliced ham? Doritos for life? Pics of Bea Arthur nekkid?

[Hardcore troubadour 12,653]

How about NY lower it's focking taxes? Bow bout dah?

People have no idea how high they are. It's ridiculous. Never mind our state tax starts at dollar one and makes it's way up to almost 7%, the school taxes are through the roof. I pay over 6k in school taxes alone.

[mobb_deep 917]

Ironic considering I don't want to subsidize individual people who pay nothing into the fed.

 

See how fun that is?

Neither do I, so Im not following the irony?

[IGotWorms 3,315]

How about NY lower it's focking taxes? Bow bout dah?

Maybe folks live having stuff like good public schools?

[IGotWorms 3,315]

Ironic considering I don't want to subsidize individual people who pay nothing into the fed.

 

See how fun that is?

Ironic considering that a stay at home kept man ultimately contributes nothing

[Hardcore troubadour 12,653]

Maybe folks live having stuff like good public schools?

Lol. The NYC school system is a holding pen for the most part. And there are many, many private schools in NY. You don't think rich liberals send their kids to public schools, do you? Maybe scarsddale and a few others. Very few. Same goes for CT and NJ.

[IGotWorms 3,315]

Lol. The NYC school system is a holding pen for the most part. And there are many, many private schools in NY. You don't think rich liberals send their kids to public schools, do you? Maybe scarsddale and a few others. Very few. Same goes for CT and NJ.

Depends where you are, like anywhere. If theyre good public schools in a good area Im sure many folks send their kids there.

[mobb_deep 917]

Ironic considering that a stay at home kept man ultimately contributes nothing

Lol. Cyclone, the conservative who doesnt work, and hates the 2nd amendment. Youre a liberal bro. Quit faking the funk.

[Baker Boy 1,485]

Lol. The NYC school system is a holding pen for the most part. And there are many, many private schools in NY. You don't think rich liberals send their kids to public schools, do you? Maybe scarsddale and a few others. Very few. Same goes for CT and NJ.

He believes in the liberal fallacy that if you spend more money it has to be better. It is a mistake they made last election.

[Hardcore troubadour 12,653]

Depends where you are, like anywhere. If theyre good public schools in a good area Im sure many folks send their kids there.

Many don't. Especially in NYC

[RaiderHaters Revenge 3,585]

Maybe folks live having stuff like good public schools?

 

you know that California spends the most per student in the country on schooling?

 

you know that California has the 49th best schools in the country?

[Hardcore troubadour 12,653]

 

you know that California spends the most per student in the country on schooling?

 

you know that California has the 49th best schools in the country?

Proof positive that the parents are the most important factor. Not overpaid Gym and Home economics teachers.

[IMMensaMind 459]

Ironic considering that a stay at home kept man ultimately contributes nothing

 

Lol. Cyclone, the conservative who doesnt work, and hates the 2nd amendment. Youre a liberal bro. Quit faking the funk.

Interesting technique, insulting and besmirching a conservative so bad that you finally consider him at the level you occupy.

[Baker Boy 1,485]

Maybe folks live having stuff like good public schools?

What you have is very high priced teachers and administrators with large salaries and huge pensions.

[Patriotsfatboy1 1,432]

 

you know that California spends the most per student in the country on schooling?

 

you know that California has the 49th best schools in the country?

 

Based on what data are they 49th? Everything that I have seen has them middle of the road with some southern states having the worst.

[IMMensaMind 459]

Based on what data are they 49th? Everything that I have seen has them middle of the road with some southern states having the worst.

 

By lots of data.

 

http://www.laweekly.com/news/california-is-home-to-some-of-americas-worst-public-schools-7205447

[SUXBNME 1,335]

Ironic considering I don't want to subsidize individual people who pay nothing into the fed.

 

See how fun that is?

[IMMensaMind 459]

http://www.scpr.org/blogs/education/2015/01/08/17773/report-gives-california-poor-grade-low-ranking-for/

[TimmySmith 2,782]

 

you know that California spends the most per student in the country on schooling?

 

you know that California has the 49th best schools in the country?

It's DC by a mile (or was 2 years ago)

 

https://nces.ed.gov/programs/digest/d14/tables/dt14_236.75.asp?current=yes

 

And you know what DC has ended up with? The single best school system in the nation for white kids. Status quo for black ones.

[Patriotsfatboy1 1,432]

By lots of data.

 

http://www.laweekly.com/news/california-is-home-to-some-of-americas-worst-public-schools-7205447

 

Except that your own link has a problem in that it references wallethub,com which has California as 28th out of 51 (includes DC). Maybe the writers at LA Weekly went to California public schools?

[Hardcore troubadour 12,653]

It's DC by a mile (or was 2 years ago)

 

https://nces.ed.gov/programs/digest/d14/tables/dt14_236.75.asp?current=yes

 

And you know what DC has ended up with? The single best school system in the nation for white kids. Status quo for black ones.

How did that happen?

[jerryskids 5,206]

You make sense on the surface, but factor in States like NY give more to the Feds than they get back, even with the deduction. So someone from those states can claim they are the ones doing the subsidizing, so they have to in turn pay higher state taxes.

 

 

Youre still being taxed twice on the same income under the new plan. Just not as much as someone in a high tax state.

 

And we (people in NY, Cali, etc) dont want to subsidize the crappy states that pay nothing into the fed, but you dont seem too concerned with that... South Carolina gets back 8$ for every dollar sent to the fed.

 

Interesting points, thanks. A few comments:

1. I wonder what the fed distribution would look like in NY, Cali, etc. would look like if you took out the major metro areas? I'm not thinking Fresno or Buffalo are net positives...

2. More importantly, it seems like you are espousing a return towards state sovereignty, where the Feds only get involved in... ya know, fed things like defense, interstate commerce/crimes, a few other things. I'm good with that.

[IMMensaMind 459]

Except that your own link has a problem in that it references wallethub,com which has California as 28th out of 51 (includes DC). Maybe the writers at LA Weekly went to California public schools?

In fact, a spokeswoman for WalletHub says, "California has the 12th worst school system in America."

 

The study was based on 17 metrics, including student-to-teacher ratio, dropout rates and average SAT and ACT scores. Compared with the other 49 states and the District of Columbia, California ranked 47th in reading test scores, 46th in math test scores and dead last in student-teacher ratios.

 

We were 43rd for our high number of disciplinary incidents per 100,000 students, 35th for SAT scores and 33rd for our dropout rate. One of our best showings was in the percentage of licensed or certified public school teachers in the state; by that metric, we're No. 22. Huzzah!

Not so much.

[Baker Boy 1,485]

Youre still being taxed twice on the same income under the new plan. Just not as much as someone in a high tax state.

And we (people in NY, Cali, etc) dont want to subsidize the crappy states that pay nothing into the fed, but you dont seem too concerned with that... South Carolina gets back 8$ for every dollar sent to the fed.

Maybe the state should let you deduct your Federal Tax.

 

BTW: there are dozens of double taxes you pay everyday like sales tax, utility taxes, gas taxes, alcohol taxes, and on and on and on...

[Hardcore troubadour 12,653]

 

 

 

Interesting points, thanks. A few comments:

1. I wonder what the fed distribution would look like in NY, Cali, etc. would look like if you took out the major metro areas? I'm not thinking Fresno or Buffalo are net positives...

2. More importantly, it seems like you are espousing a return towards state sovereignty, where the Feds only get involved in... ya know, fed things like defense, interstate commerce/crimes, a few other things. I'm good with that.

New York's economics are driven by the city and the surrounding counties. The rest of the state is largely inconsequential. You take the good with the bad. Buffalo could be a raging economic engine or the mess that it is. Wouldn't move the needle much either way. Not enough people. Now if you took out the crap areas down state with millions of people being subsidized you'd have something. NYC has a small, no large army of police and a firehouse every couple of miles. Never mind the schools and hospitals that service communities that contribute nothing but some cheap labor. The NYPD is bigger than many countries whole defense forces, there to keep a lid on the mayhem that would ensue if many areas of the city were left to their own devices. But Deblasio is in the process of neutering it even more than he already has. Stand by, in a few years the city will be back to Dinkins time, instead of Guilliani time.