Drudge Retort: The Other Side of the News
Tuesday, January 23, 2018

Moderately conservative leaning source: A list of 40 firms offering millions of employees bonuses and customers fee cuts has surged to 164 in just 10 days as the likely financial benefit of President Trump's tax reform has started to settle in. The new list, pulled together by the taxpayer watchdog Americans For Tax Reform (more rightward leaning) is likely to bring more attention, especially because ATR's John Kartch also included the amounts of bonuses or rate hikes being offered along with quotes crediting the tax reform package as the reason for their generosity.

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Long read of quotes from many of the companies.

Link to the list of all the companies: https://www.atr.org/list

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Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

"No way, this is fake, they are using monopoly money, it has to be severance pay, lies told by all of them." The Left

#1 | Posted by fishpaw at 2018-01-23 11:51 AM | Reply | Newsworthy 1

See: lmgtfy.com

#2 | Posted by IndianaJones at 2018-01-23 01:46 PM | Reply | Newsworthy 1

#1 | POSTED BY FISHPAW

reclaimtheamericandream.org

To get at what business leaders intend, an international accounting firm did a confidential survey earlier this year asking corporations how they plan to use tax savings.

Their answers undercut the Trump scenario.

Most U.S. multinationals replied that they planned to pass on tax savings to investors through higher dividends and stock buybacks.

Only 23% said they would invest in growth, hiring more workers and boosting wages.

Hardly a surprise, since that has been the pattern for two decades or more.

Billionaire investor and social critic Nick Hanauer of Seattle points out that corporate boards and CEOs have been fueling U.S. economic inequality by steadily cutting labor's share of corporate profits and giving a larger share to the corporate elite.

"Over the last 40 years, corporate profits as a percentage of GDP have increased from about 6% to about 11%, while wages as a percentage of GDP have fallen by about the same amount," Hanauer asserts. "That represents about a trillion dollars a year that used to go to wages, but now goes to shareholders and executives."

More specifically, the Institute of Policy Studies, a Washington research think tank, found that 48 major U.S. companies used tax write-offs and loopholes to cut their actual tax rates below 20% from 2008 to 2015 but instead of using their low tax rates to hire more American workers, they collectively cut a total of 483,000 jobs.


Nick Hanauer is the billionaire who cautions that the pitchforks will come out if this level of obscene wealth inequality continues.

#3 | Posted by PinchALoaf at 2018-01-23 07:37 PM | Reply

More specifically, the Institute of Policy Studies, a Washington research think tank, found that 48 major U.S. companies used tax write-offs and loopholes to cut their actual tax rates below 20% from 2008 to 2015 but instead of using their low tax rates to hire more American workers, they collectively cut a total of 483,000 jobs.

Gee, I wonder who was POTUS during that timeframe? And weren't corporate tax rates the highest in the world then?

Thanks _______!

#4 | Posted by Rightocenter at 2018-01-23 09:18 PM | Reply | Newsworthy 1

The point is, Pinch, most corporations use write-offs, carry forwards and loopholes to cut their effective rates in half around the world, the new effective rate will be around 11% under the new rules, which puts us in the lower middle of tax rates.

That IPS study is meaningless for the point that Hanauer is trying to make.

#5 | Posted by Rightocenter at 2018-01-23 09:20 PM | Reply

Hans shared this elsewhere, but it seems appropriate on this thread as well.

Crumbs

#6 | Posted by Whatsleft at 2018-01-24 05:07 PM | Reply | Newsworthy 1

Yay!

Lower fee fees for the unwashed masses to go with our tinkle down.

#7 | Posted by donnerboy at 2018-01-24 05:15 PM | Reply

Gee, I wonder who was POTUS during that timeframe? And weren't corporate tax rates the highest in the world then?

The point is, Pinch, most corporations use write-offs, carry forwards and loopholes to cut their effective rates in half around the world, the new effective rate will be around 11% under the new rules, which puts us in the lower middle of tax rates.

POSTED BY RIGHTOCENTER

Then close the loopholes, per Hedrick Smith (second video 'What President Trump is doing to the American Dream') ... www.drudge.com

Also, since you don't know, Congress legislates laws (like, you know, corporate tax rates) and the President signs or vetoes them ... civics 101, welcome to 2018 ... you walked into that one ~

#8 | Posted by PinchALoaf at 2018-01-24 05:37 PM | Reply

"And weren't corporate tax rates the highest in the world then?"

Perhaps. Perhaps not.

What was their EFFECTIVE tax rate?

#9 | Posted by donnerboy at 2018-01-24 05:45 PM | Reply

Also, since you don't know, Congress legislates laws (like, you know, corporate tax rates) and the President signs or vetoes them ... civics 101, welcome to 2018 ... you walked into that one ~

I know that, and have pointed that out repeatedly, but you continually call it the "Trump Tax Cut".

For you to link to something that shows that corporations used typical tax avoidance mechanisms when our tax rate was the highest in the world under Obama to reduce their effective rate but didn't "pass on the savings" from those deductions and loopholes as proof that the new tax rates won't benefit employees is asinine.

-speaking of walking into things...you can't have it both ways.

#10 | Posted by Rightocenter at 2018-01-24 05:55 PM | Reply

I know that, and have pointed that out repeatedly, but you continually call it the "Trump Tax Cut".

For you to link to something that shows that corporations used typical tax avoidance mechanisms when our tax rate was the highest in the world under Obama to reduce their effective rate but didn't "pass on the savings" from those deductions and loopholes as proof that the new tax rates won't benefit employees is asinine.

-speaking of walking into things...you can't have it both ways.

#10 | POSTED BY RIGHTOCENTER

Trump went Full Monty in promoting his party's tax cuts that were aimed at corporations already making record profits.

By comparison, Obama's tax cuts -- many people didn't know or denied that Obama cut their taxes, so there's that -- Obama's tax cuts were aimed more at working and middle-Americans, with the added addendum that billionaires like the douche-bag Koch Brothers also benefited during this period, but mostly due to federal subsidies and not outright tax cut windfalls.

Regular Americans being clueless to Obama cutting their taxes coincides with Obama's lack of aggressive messaging (again, as compared to Trump's messaging).

#11 | Posted by PinchALoaf at 2018-01-25 05:18 AM | Reply

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