Tax bill results in 130 companies giving bonuses

Mountainmanbob

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The reason I am posting this new thread in regards to the tax bill is because so many people are chiming in and saying that the (CEOs and the ones up top are going to be the main ones benefiting from this tax bill.)

Well, it appears they are spreading the money around pretty good to the common common folk?

Something like 70% of the people are pleased so far with the tax bill.

Any credit given to Trump out there or did Obama start it all?

M-Bob

 
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Mountainmanbob

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Great. I would rather have a pay raise.

I have heard that many, many of those are coming soon, we will see?

Been watching my retirement check from the City. Don't think they will be following private business real soon on this one.
M-Bob
 
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Steve Petersen

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I have heard that many, many of those are coming soon, we will see?

Been watching my retirement check from the City. Don't think they will be following private business real soon on this one.
M-Bob

Do you get a COLA on your retirement?
 
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dgiharris

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The problem I have with these declarations of corporate philanthropy is that they can very easily be mathematical shell games or PR conning campaigns.

For the sake of argument lets say that the Tax cut gives my company a boon of $15M dollars. Now, if I take $5M of that bonus and give it to employees then use another $5M to up my quality and reduce price and upgrade equipment, then take that last $5M and stick it in my pocket, I think you could probably argue that the Tax cut was great for everyone.

But, if I stick $14M in my pocket, take $500k and sprinkle that among my employees, and use the other $500k to roll back into my business... then you could argue that the Tax cut wasn't all that great for everyone.

So the devil is definitely in the details and truth be told, those are details we can never know.

Then there is the matter of the long view. The Tax Cut amounts to taking Trillions of dollars away from the federal government long term. Now, if the government can cut spending in a way that does not hurt social services (i.e. the people) then you can make a compelling argument that the Tax Cuts were warranted. However, if you can NOT reduce spending such that social services aren't hurt, then you can make a compelling argument that the Tax Cuts were harmful.

Please note the argument about the efficacy/righteousness of said social services is a separate argument.
 
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Mountainmanbob

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Do you get a COLA on your retirement?

Happen to have my monthly pay stub right in front of me yes I do receive COLA annuity. To be honest with you I do not even know what that is it says $779 and $0.66. Is that money I pay out or I get back?

I don't pay much attention but I sure do appreciate the monthly check.

M-Bob

Okay I went back and studied it a little more and looks like that is money that I receive. I receive a COLA annuity and a taxable COLA insurance allowance a base pension and a Medicare reimbursement and free medical-- pretty sweet.
32 years on the job
credit for 36 years -- long story.
 
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Halbhh

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Sure. But for a company and the employees too, the flexibility of bonuses that can increase or decrease allows them to pay their workers more, but in a flexible way that allows them to pay less in a recession, and thus lay off fewer. So, if there is a trend of bigger bonuses combined with rather modest pay raises, this isn't actually that bad.
 
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Steve Petersen

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Sure. But for a company and the employees too, the flexibility of bonuses that can increase or decrease allows them to pay their workers more, but in a flexible way that allows them to pay less in a recession, and thus lay off fewer. So, if there is a trend of bigger bonuses combined with rather modest pay raises, this isn't actually that bad.

Have you ever worked for a Fortune 100 Company? I have, and it is just continuous 'take' from employees.
 
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Mountainmanbob

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Have you ever worked for a Fortune 100 Company? I have, and it is just continuous 'take' from employees.

Never have worked for a Fortune 100 company.

Owned a bicycle shop for three years next to State College back when I was young and then after that went to work for the City.

Did those companies pay you well?
When I started with the City most of the jobs were very low paying.

Sorry I just realized that post was not even for me too much coffee I'm done for the morning have a good day Bob

M-Bob
 
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Steve Petersen

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Never have worked for a Fortune 100 company.

Owned a bicycle shop for three years next to State College back when I was young and then after that went to work for the City.

Did those companies pay you well?
When I started with the City most of the jobs were very low paying.

M-Bob

Pay just kept up with inflation. Non-union employees had MANY years without a pay raise, mandatory furloughs up to two weeks per year. Also, health insurance went from no out of pocket, copay, or deductible to $4000 per year premiums and $12,000 per year out of pockets. Also, they took away retiree medical.

This doesn't include that dropping of employment anniversary gifts, Christmas luncheon and retirement cakes.
 
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Belk

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The reason I am posting this new thread in regards to the tax bill is because so many people are chiming in and saying that the (CEOs and the ones up top are going to be the main ones benefiting from this tax bill.)

Well, it appears they are spreading the money around pretty good to the common common folk?

Something like 70% of the people are pleased so far with the tax bill.

Any credit given to Trump out there or did Obama start it all?

M-Bob


Why is that worth a 1.5 trillion increase to our borrowing over 10 years?
 
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grasping the after wind

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Why is that worth a 1.5 trillion increase to our borrowing over 10 years?

Are you a soothsayer? The normal state of affairs is that the revenue to the federal government increases when taxes are cut until they are cut below the point of diminishing returns. Since taxes were still above the point of diminishing returns we should see an increase in revenue. I think I heard that this was already the case in January and February but I won't vouch for that as I do not remember the source of that and it might not be a reliable source. The problem then is that government spending increases outpace the increase in revenue. So the 1.5 trillion in borrowing over the next 10 years that your predict may well come to pass, if not much more, not because of tax cuts but rather because of spending increases.

I will say that bonuses ought not be the way to judge the tax cuts success. Bonuses are one time things. Judge tax cuts on what the citizen receives in that citizen's pocket on a weekly basis and on how the economy responds to more cash in the system through less government appropriation of profits and wages.
 
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Belk

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Are you a soothsayer?

No, just someone who can read the opinion of experts.


The normal state of affairs is that the revenue to the federal government increases when taxes are cut until they are cut below the point of diminishing returns. Since taxes were still above the point of diminishing returns we should see an increase in revenue. I think I heard that this was already the case in January and February but I won't vouch for that as I do not remember the source of that and it might not be a reliable source. The problem then is that government spending increases outpace the increase in revenue. So the 1.5 trillion in borrowing over the next 10 years that your predict may well come to pass, if not much more, not because of tax cuts but rather because of spending increases.

I will say that bonuses ought not be the way to judge the tax cuts success. Bonuses are one time things. Judge tax cuts on what the citizen receives in that citizen's pocket on a weekly basis and on how the economy responds to more cash in the system through less government appropriation of profits and wages.

Do you have any evidence that shows the experts who ran the numbers on the tax cut to be mistaken?
 
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grasping the after wind

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No, just someone who can read the opinion of experts.




Do you have any evidence that shows the experts who ran the numbers on the tax cut to be mistaken?

What experts are you speaking of. You gave a figure without any source. I cannot give evidence on the work of or even know what level of expertise we are discussing of any experts if the experts remain unknown to me. If your experts work for the GAO I would submit that a perusal of their past predictions would be evidence enough to doubt the competence of their predictive abilities. What would you say qualifies one a to be considered an expert? For many the criterion seems to be that "They work in or have a degree in the field and agree with me"
 
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hislegacy

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Have you ever worked for a Fortune 100 Company? I have, and it is just continuous 'take' from employees.

My daughter works for a non union fortune 100 company and has received a 6,000 a year raise at an entry level position. Along with a stellar benefits plan.
 
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Belk

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What experts are you speaking of. You gave a figure without any source. I cannot give evidence on the work of or even know what level of expertise we are discussing of any experts if the experts remain unknown to me. If your experts work for the GAO I would submit that a perusal of their past predictions would be evidence enough to doubt the competence of their predictive abilities. What would you say qualifies one a to be considered an expert? For many the criterion seems to be that "They work in or have a degree in the field and agree with me"


From everything I have heard they are quite reliable if you take their methodology and assumptions into account. You can't just look at the end results of their predictions without mapping how many of the underlying assumptions were correct. That said the number I quoted actually came from the House Ways and Means Committee.

Tax Cuts and Jobs Act Will Cost $1.5 Trillion
 
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