Drudge Retort: The Other Side of the News
Monday, June 17, 2019

AT&T's benefit was a tax windfall of $21bn and an additional estimated $3bn annually. But instead of creating jobs and increasing investment into the company, AT&T has eliminated 23,328 jobs since the tax cut bill was passed, according to a recent report by the Communications Workers of America. The CWA also said AT&T reduced their capital investments by $1.4bn.

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Yep. The GOP should be voted out of office en masse. The taxation laws need to be brought back into line with spending.

#1 | Posted by BruceBanner at 2019-06-17 08:45 PM | Reply

Can we each punch this CEO till he pee's blood?

#2 | Posted by Tor at 2019-06-17 08:57 PM | Reply

This is what they wanted.

Just ask them, they'll tell you.

#3 | Posted by snoofy at 2019-06-17 09:03 PM | Reply

Bosses pocket Trump tax windfall as workers see job promises vanish

"No one could have anticipated...".

Bwaaaahhh ha ha ha ha.

#4 | Posted by oldwhiskeysour at 2019-06-17 09:35 PM | Reply | Newsworthy 1

Most CEO's and executives are liars and criminals.

#5 | Posted by aborted_monson at 2019-06-17 10:02 PM | Reply

I'm shocked, I tells ya....

www.youtube.com

#6 | Posted by Corky at 2019-06-17 11:04 PM | Reply

There was a town hall on TV attended by 100 Fortune 500 CEOs before this tax bill was passed.

When the moderator asked for a show of hands of how many planned to increase wages or hiring with the savings, 3 or 4 raised their hands.

Of course, none of them turned down their own raises or whined about increased stock option profits.

#7 | Posted by AMERICANUNITY at 2019-06-18 12:37 AM | Reply

This scam has been going on since Reagan, if you haven't figured it out yet you never will.
Somehow, Republicans have turned stupidity into a virtue. It's is patriotic to be stupid today, other countries laugh at the stupid Americans. If you are a Trump voter stay away from mirrors, there is a stupid person looking back at you and it will hurt your feelings.
If you are a Mitch McConnell voter.....OMG!!! you are beyond hope.

#8 | Posted by danni at 2019-06-18 06:28 AM | Reply | Newsworthy 1

This is what they wanted.
Just ask them, they'll tell you.

#3 | POSTED BY SNOOFY AT 2019-06-17 09:03 PM | REPLY

Not only did they want it, but they said before the tax cut was passed publicly.

I remember one of Fat Nixon's minions asking a crowd of CEO's how many were going to invest in their companies, hire or raise wages because of the tax cuts and less than 5% of the crowd raised their hands.

Tax cuts never 1) cut prices, 2) raise wages (other than the c-suite) or 3) increase employment.

Cutting taxes gives the CEO's an incentive to raid the coffers for themselves and or shareholders.

This is the fruition of that. Stock buybacks, CEO pay and dividends were the way the tax cuts were spent. Period.

It just staggers the mind that anyone outside of the C-suite believes the line of -------- that tax cuts increase wages and or hiring.

#9 | Posted by Nixon at 2019-06-18 08:19 AM | Reply

I predict the usual suspects of GOP supply side kool aid guzzlers will avoid this thread like it was Ebola.

#10 | Posted by Nixon at 2019-06-18 08:19 AM | Reply

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From bloomberger

Unemployment is close to a half-century low and inflation is so subdued that some have pronounced it dead. The two gauges added together are known as the "misery index." Waring, who has crunched those numbers, says they show Americans are less miserable than they've ever been

#11 | Posted by Sniper at 2019-06-18 11:19 AM | Reply

""At 46 years old, I'm looking for a new job," Smith said. "They basically told us we either need to move south or lose our job. It was out of the blue. We had no idea.""

Here's the problem with partisan hypocrites. This story is nothing new. This stuff happens regardless of tax legislation. Offices close, offices open, and on and on. Using this as any kind of political smoking gun only shows your ignorance and hate. You should be looking to spread happiness and fairness, something DR Libs are too hate-filled and intolerant to do with a GOP POTUS in office.

#12 | Posted by humtake at 2019-06-18 12:53 PM | Reply

This scam has been going on since Reagan, if you haven't figured it out yet you never will.
Somehow, Republicans have turned stupidity into a virtue. It's is patriotic to be stupid today, other countries laugh at the stupid Americans. If you are a Trump voter stay away from mirrors, there is a stupid person looking back at you and it will hurt your feelings.
If you are a Mitch McConnell voter.....OMG!!! you are beyond hope.

#8 | POSTED BY DANNI AT 2019-06-18 06:28 AM | REPLY

So why are so many people trying to get into America if it is as bad as you are always telling us?
And stop giving us crap about companies arn't raising wages, we have a real hiring problem, companies are spending a lot of money to attract workers and offering great wages, they just can't find the workers. That is real world not the doom and gloom crap you gravitate towards. People make up this --- up because idiots believe it. Congratulations

#13 | Posted by fishpaw at 2019-06-18 12:56 PM | Reply | Newsworthy 1

"Here's the problem with partisan hypocrites. This story is nothing new. This stuff happens regardless of tax legislation. Offices close, offices open, and on and on."

The seas change, it happens all the time, so it's totally normal and nothing a ship should even take any notice of.

#14 | Posted by snoofy at 2019-06-18 12:56 PM | Reply

"But instead of creating jobs and increasing investment into the company, AT&T has eliminated 23,328 jobs since the tax cut bill was passed, according to a recent report by the Communications Workers of America. The CWA also said AT&T reduced their capital investments by $1.4bn."

That's because the new tax code incentivized taking profits out of businesses, and disincentivized reinvestment, either capital or human.

IOW...THAT'S THE WAY THEY PURPOSELY TURNED THE DIALS.

Sometimes it seems no one understands conceptual math at all.

#15 | Posted by Danforth at 2019-06-18 12:57 PM | Reply

Thing is dan, you seem to ignore the fact that unemployment is at a 50 year low and there are over a million job openings than people looking for work. Pull it out dan and look around.

#16 | Posted by Sniper at 2019-06-18 01:08 PM | Reply

It is worth noting that AT&T just finished a fiber roll-out so some of these layoffs are literally because there's no need for that labor any more.

That being said, it doesn't change the fact that the GOP "new tax code incentivized taking profits out of businesses, and disincentivized reinvestment, either capital or human" as Danforth explained to our deaf right-wingers.

#17 | Posted by snoofy at 2019-06-18 01:16 PM | Reply

Trickle down Ray-Gun-nomics, anyone?

#18 | Posted by KillerKarlKrupt at 2019-06-18 01:18 PM | Reply

Can we each punch this CEO till he pee's blood?
#2 | POSTED BY TOR AT 2019-06-17 08:57 PM

You presume that it uses blood.

But to answer your question - yes, these monsters will be fought because people are going beyond the breaking point. Our homeless population increases and these parasite corporations limit how we can economically react to the world of disparity they have created. Medical costs are destroying families en mass. Education costs follow the family throughout their lifetime. It's beyond the point of requiring these essential services - they need to be nationalized.

Punching them hardly touches on rectification, but it is a natural reaction when encountering such immense greed and sociopathy.

#19 | Posted by redlightrobot at 2019-06-18 02:08 PM | Reply

-Tax cuts never 1) cut prices, 2) raise wages (other than the c-suite) or 3) increase employment.

People always believe they do or at least make it all easier to happen because everyone, whether or not they are a business owner, believes a business executive or owner when they say, "If the govt would get off my back, I could grow my business or offer health benefits or add on, etc"

It's believable when a main street business owner says something like that.....so naturally it's believable when the CEO of AT&T says it also.

This is why most rank and file wage earners in this country will say, "if the govt would get off my bosses back, we'd all be better off around here". People believe that.....but it doesn't change the fact that lowering corporate tax rates doesn't generate any benefit for workers.

#20 | Posted by eberly at 2019-06-18 02:40 PM | Reply | Funny: 1 | Newsworthy 1

"2) raise wages (other than the c-suite)"

#MAGA

#21 | Posted by snoofy at 2019-06-18 02:41 PM | Reply

"it doesn't change the fact that lowering corporate tax rates doesn't generate any benefit for workers."

There's more to it: lowering corporate tax rates actively DIS-incentivizes benefits for workers.

#22 | Posted by Danforth at 2019-06-18 02:51 PM | Reply | Funny: 1

22

Yes, but you can't sell that.

and is there any evidence that lowering tax rates has caused employers to reduce or eliminate benefits?

#23 | Posted by eberly at 2019-06-18 03:00 PM | Reply

"Yes, but you can't sell that."

It sells on Wall Street.

#24 | Posted by snoofy at 2019-06-18 03:04 PM | Reply

24

People on Wall Street already understand that basic or moderate accounting reality Danforth pointed out.

I'm referring to folks with limited financial acumen (which is 80% of the population)

#25 | Posted by eberly at 2019-06-18 03:06 PM | Reply

Why would you expect the peasant class to understand things?
It seems like an unrealistic expectation.

#26 | Posted by snoofy at 2019-06-18 03:14 PM | Reply

"...is there any evidence that lowering tax rates has caused employers to reduce or eliminate benefits?"

There is evidence of the way the macro dials turn in the new tax code. Compared to the prior tax code, it's less costly to take profits out of the business than before (taxes are lower), and you get less of a tax deduction on the same purchase, capital or labor.

#27 | Posted by Danforth at 2019-06-18 04:07 PM | Reply

Trickle down Ray-Gun-nomics, anyone?
#18 | Posted by KillerKarlKrupt

Tell me how trickle up works.

#28 | Posted by Sniper at 2019-06-18 04:31 PM | Reply

Why would you expect the peasant class to understand things?
It seems like an unrealistic expectation.
#26 | Posted by snoofy

And where would that leave you? In the dark like now?

#29 | Posted by Sniper at 2019-06-18 04:34 PM | Reply

Sniper, I've forgotten more things than you'll ever know.

#30 | Posted by snoofy at 2019-06-18 04:37 PM | Reply | Funny: 1

#29 Increased velocity of money instead of hoarding it in offshore accounts.

#31 | Posted by IndianaJones at 2019-06-18 05:08 PM | Reply

Tell me how trickle up works.

#28 | Posted by Sniper

Only a trump cult member would need something that simple explained to them.

What does a poor person do with their money einstein?

#32 | Posted by SpeakSoftly at 2019-06-18 09:21 PM | Reply

This is why most rank and file wage earners in this country will say, "if the govt would get off my bosses back, we'd all be better off around here". People believe that.....but it doesn't change the fact that lowering corporate tax rates doesn't generate any benefit for workers.

#20 | Posted by eberly

Those are the same idiots who think we need to elect a businessman to run america like a business.

#33 | Posted by SpeakSoftly at 2019-06-18 09:22 PM | Reply

Those are the same idiots who think we need to elect a businessman to run america like a business.
#33 | POSTED BY SPEAKSOFTLY

The only problem being that, business is good.

#34 | Posted by SheepleSchism at 2019-06-18 09:24 PM | Reply

- What does a poor person do with their money einstein?

Buy lotto tickets?

#35 | Posted by SheepleSchism at 2019-06-18 09:25 PM | Reply

Buy lotto tickets?

#35 | Posted by SheepleSchism

Great example. And where does the money for that go? Into the cayman islands like when you give tax cuts for the rich?

#36 | Posted by SpeakSoftly at 2019-06-18 09:31 PM | Reply

The only problem being that, business is good.

#34 | Posted by SheepleSchism

Sure it is.

www.reuters.com
J&J knew for decades that asbestos lurked in its Baby Powder

#37 | Posted by SpeakSoftly at 2019-06-18 09:32 PM | Reply

www.typeinvestigations.org
3M Knew About Dangers of Toxic Chemicals Decades Ago
Internal studies and other documents show that 3M knew by the 1970s that PFOA and PFOS were toxic and accumulating in people's blood.

#38 | Posted by SpeakSoftly at 2019-06-18 09:33 PM | Reply

www.ecowatch.com
Teflon's Toxic Legacy: DuPont Knew for Decades It Was Contaminating Water Supplies

Let's run america like a business!

-trump's cult of morons

#39 | Posted by SpeakSoftly at 2019-06-18 09:33 PM | Reply

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