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Old 01-02-2018, 11:14 PM   #1
JustRalph
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More terrible tax news

https://apnews.com/9991b762ca8047a19...&utm_medium=AP
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Old 01-02-2018, 11:32 PM   #2
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cbs did a section on how much a typical families taxes will go up with new law

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Old 01-03-2018, 07:32 AM   #3
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The truth

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cbs did a section on how much a typical families taxes will go up with new law

https://www.youtube.com/watch?v=N3OG5zL51Bg
The average household would get a tax cut of $1,610 in 2018, a bump of about 2.2 percent in that average household's income, according to a report released Monday by the Tax Policy Center, a nonpartisan think tank that has been critical of the tax overhaul plan.
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Old 01-03-2018, 07:55 AM   #4
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The average household would get a tax cut of $1,610 in 2018, a bump of about 2.2 percent in that average household's income, according to a report released Monday by the Tax Policy Center, a nonpartisan think tank that has been critical of the tax overhaul plan.
Then what does Nancy Pelosi mean when she says 'this is armeggedon' ?

https://nypost.com/2017/12/04/this-i...-gop-tax-bill/
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Old 01-03-2018, 08:08 AM   #5
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Then what does Nancy Pelosi mean when she says 'this is armeggedon' ?

https://nypost.com/2017/12/04/this-i...-gop-tax-bill/
Our Auntie Nancy was simply projecting the Dems' dire consequences unto taxpayers.
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Old 01-03-2018, 09:08 AM   #6
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OMG!

Has anyone heard from Dan????
Someone better check on him.
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Old 01-03-2018, 09:28 AM   #7
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Wow, I thought the capitalist scum would use the money for automation. Marx must be spinning in his grave.
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Old 01-03-2018, 10:32 AM   #8
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Big Pay Raises, $15 an hour minimum

https://www.housingwire.com/articles...ter-tax-reform
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Old 01-03-2018, 01:22 PM   #9
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This is monumental stuff. In a country where the left constantly complains about how evil corporations are, the first reaction of so many of these companies is to funnel some of their tax savings directly to their employees is counter to everything we hear.

The increase in wages is even more important over time.

No one could have predicted this. Cutting the corporate tax rate is already a huge deal for making companies more competitive but these added extra benefits tied in with the fact these same employees will pay less tax on the "new money", is a grand slam.
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Old 01-03-2018, 01:49 PM   #10
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This is monumental stuff. In a country where the left constantly complains about how evil corporations are, the first reaction of so many of these companies is to funnel some of their tax savings directly to their employees is counter to everything we hear.

The increase in wages is even more important over time.

No one could have predicted this. Cutting the corporate tax rate is already a huge deal for making companies more competitive but these added extra benefits tied in with the fact these same employees will pay less tax on the "new money", is a grand slam.
they are talking about their own

Bozo from Amazon is working on robots in shipping department and drones for delivery (even though he got a sweetheart deal for USPS to ship below cost and deliver on Sunday - they probably will be able to make up for it with more volume). Some also think Amazon may try taking over Target in next couple years....

Walmart (Clinton country backers) have been paying low and getting rich themselves. Why pay a livable wage when the dimocrat controlled government will supply EBT, housing insurance...
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Old 01-03-2018, 02:23 PM   #11
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This is monumental stuff. In a country where the left constantly complains about how evil corporations are, the first reaction of so many of these companies is to funnel some of their tax savings directly to their employees is counter to everything we hear.

The increase in wages is even more important over time.

No one could have predicted this. Cutting the corporate tax rate is already a huge deal for making companies more competitive but these added extra benefits tied in with the fact these same employees will pay less tax on the "new money", is a grand slam.
I agree. I bank at BBT. PNC also has many branches around here. Imagine a full time employee who was making $12 an hour and starting Monday is now at $15, that's a huge increase that will help their retirement (401 contributions) and immediately provide a better standard of living. And without gov't mandates (increasing min. wage) which will probably backfire.
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Old 01-03-2018, 02:37 PM   #12
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Locally this is a big fn deal. Hq'd here, lot of positive buzz on the tax cuts. Money going back into pockets of everyday workers. Very nice
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Old 01-03-2018, 02:39 PM   #13
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WOW!!! What generosity!! A $1200 bonus is fifty eight cents an hour over one year. A $1000 bonus is forty eight cents an hour and the $1500 per worker that one of the banks is adding to the pension benefits, comes out to seventy three cents an hour. All of those are one time payouts.

As for the $3 an hour increase in the minimum wage; how many employees will that actually affect? I doubt that there are very many minimum wage workers at any bank; certainly not the tellers, not the accountants. not the folks working in the loan department or the mortgage department, not the personal bankers or those working with businesses. I suspect even the custodial staff is making well in excess of minimum wage.

So, except for a tiny percentage, the banks are raising the wages of no one.
In return for which, their tax rate is being reduced by 40%.
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Old 01-03-2018, 02:48 PM   #14
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Actually, Most, the average salary for bank tellers in the U.S. is $24,470, which is just under $12.00 an hour. So, yes, their tellers most likely received a huge raise.
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Old 01-03-2018, 02:49 PM   #15
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As for the $3 an hour increase in the minimum wage; how many employees will that actually affect? I doubt that there are very many minimum wage workers at any bank; certainly not the tellers,
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US Bank Bank Tellers earn $24,000 annually, or $12 per hour, which is equal to the national average for all Bank Tellers at $24,000 annually and 87% lower than the national salary average for ​all working Americans. The highest paid Bank Tellers work for Guaranty Bank at $46,000 annually and the lowest paid Bank Tellers work for Midwest Bank and Trust Company at $16,000 annually.
https://www.careerbliss.com/us-bank/...s/bank-teller/
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