2017 "Tax Reform": They'll Screw This Up Too, Right? - Page 99 - Politics and Economics

An earlier round of this came in late December, when AT&T announced it was paying out a $1,000 holiday bonus to its employees and attributed the decision to the GOP tax bill.

AT&T, like other telecommunications companies, has received some significant regulatory favors from the Trump administration in the form of new rules rescinding net neutrality regulation and allowing internet service providers to sell users’ web browsing data. They’re also struggling to gain regulatory approval for a proposed merger with Time Warner. Their framing of the bonus as a tax bill payoff was immediately hailed by GOP politicians, and they were swiftly followed by Comcast and two major banks.

Now, if you stop to think about it for a moment, it’s pretty clear that Donald Trump did not invent the practice of the corporate holiday bonus in December 2017. Indeed, according to the Bureau of Labor Statistics, about a quarter of private sector workers got a “holiday,” “year-end,” or “cash profit-sharing” bonus back in 2016:

It will take months for the data to become available to assess whether more bonuses were actually paid in 2017 than in 2016. And even if they were, there’d be no particular reason to think bonuses were paid because of the tax law. But the political upside to companies in regulated industries saying that whatever bonuses they are paying for whatever reason were due to the tax law is pretty clear.

By contrast, back in March 2016, when Comcast agreed to an across-the-board 2 to 3 percent pay raise with 10 months of retroactive back pay, it didn’t see any particular political upside in showering the Obama administration with praise.

And that's the truth of the matter. It'll take a while to see if or what the economic impact of the bill is, but Trump signaled to CEOs that if they want favorable treatment or to avoid harsh treatment they need to pay fidelity to him and they are. So we get corporate announcements about how the tax bill, Trump's signature achievement, has done X or Y good thing.

Quote:

Companies could choose to lobby quietly for Republican policies they like without overtly entering the fray in this way — executives loved Bush’s tax cuts too but didn’t spend the mid-aughts sending out an endless stream of press releases crediting the president with every new hire and every raise.

By engaging in this way, they are perhaps marginally increasing the likelihood of receiving favorable treatment from the White House. But they are also spurring the ongoing radicalization of Democratic Party elites. Under both Obama and Clinton, Democrats saw themselves as essentially performing a balancing act between a range of legitimate interests — including big business.

....

But that’s starting to change. Late last year, a Democratic senator who told me he thinks his caucus is getting pulled too far to the left also casually mentioned that a government takeover of the entire broadband and cable industry might be a good idea. And the Democrats who actually think of themselves as left-wing are thinking bigger than that.

As well they should. If companies want to throw their hat in with Trump, Democrats shouldn't welcome them back in when they're in power.

https://www.vox.com/explainers/2018/...ions-explained

01-28-2018 , 11:47 AM

#2452

Huehuecoyotl

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Legit lol

01-31-2018 , 10:46 AM

#2453

raradevils

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With the crumbs that are in my paycheck this week due to tax cuts. I'm going to be able to eat lots of cake the rest of the year.

01-31-2018 , 11:21 AM

#2454

TiltedDonkey

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Join Date: Sep 2013 Posts: 2,975

ban

01-31-2018 , 01:30 PM

#2455

otatop

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Higher taxes in 5 years is worth it for an extra $20 a paycheck now, hoo boy!

01-31-2018 , 01:36 PM

#2456

raradevils

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Quote:

Originally Posted by otatop

Higher taxes in 5 years is worth it for an extra $20 a paycheck now, hoo boy!

$20? Mine each month is large enough to make a luxury car payment.

If the dems take over the house and senate with veto proof majorities the tax cuts could expire next year.

01-31-2018 , 01:40 PM

#2457

Loki

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Join Date: Nov 2015 Posts: 12,772

Rara, aren’t you a business owner?

01-31-2018 , 01:50 PM

#2458

raradevils

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Quote:

Originally Posted by Loki

Rara, aren’t you a business owner?

Nope, I gave that up so I could have free weekends and days off.

01-31-2018 , 02:03 PM

#2459

TiltedDonkey

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Join Date: Sep 2013 Posts: 2,975

Quote:

Originally Posted by raradevils

$20? Mine each month is large enough to make a luxury car payment.

If the dems take over the house and senate with veto proof majorities the tax cuts could expire next year.

ban

Quote:

Originally Posted by raradevils

Nope, I gave that up so I could have free weekends and days off.

You are old.

01-31-2018 , 02:06 PM

#2460

raradevils

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Quote:

Originally Posted by TiltedDonkey

ban

You are old.

I guess you changed the text in your message so you wouldn't get banned?

01-31-2018 , 02:08 PM

#2461

stinkubus

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That posted wasn't edited?

01-31-2018 , 02:10 PM

#2462

raradevils

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Quote:

Originally Posted by stinkubus

That posted wasn't edited?

I changed mine after donkey changed his.

01-31-2018 , 02:35 PM

#2463

TiltedDonkey

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Join Date: Sep 2013 Posts: 2,975

Quote:

Originally Posted by raradevils

I guess you changed the text in your message so you wouldn't get banned?

Quote:

Originally Posted by stinkubus

That posted wasn't edited?

Quote:

Originally Posted by raradevils

I changed mine after donkey changed his.

It originally said "you are old and will probably die soon".

I didn't edit it because I feared banning, I just decided it was too harsh. I'm surprised you saw it in the few seconds it was there.

Your posts remain the most tilting of anyone on the forum.

01-31-2018 , 02:44 PM

#2464

Loki

binary duo

Join Date: Nov 2015 Posts: 12,772

Quote:

Originally Posted by TiltedDonkey

Your posts remain the most tilting of anyone on the forum.

I mean, he's happy about getting more money. I’m happy for him. I only wish the rest of the country was getting anywhere near the boost he is. And I hope if the tax scam isn’t removed by a sane congress that he isn’t too financially penalized as the first year of benefits is phased out.

01-31-2018 , 02:47 PM

#2465

goofyballer

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Yesterday it was IRS TARGETING CONSERVATIVE GROUPS, now today rara thinks people getting a $5k/year tax cut are just average ordinary Americans

01-31-2018 , 02:55 PM

#2466

raradevils

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Quote:

Originally Posted by goofyballer

Yesterday it was IRS TARGETING CONSERVATIVE GROUPS, now today rara thinks people getting a $5k/year tax cut are just average ordinary Americans

The average is going to be less than that. The median income in the country is only around 45k. If they were getting 5k it would be huge. That's why it was insulting when Pelosi said it would be crumbs for the average to get 1k. When 1k is a descent bump in pay, no thanks to a single dem.

01-31-2018 , 03:04 PM

#2467

MrWookie

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Join Date: Feb 2005 Posts: 94,159

Quote:

Originally Posted by raradevils

It is crumbs compared to what wealthy shareholders are getting. You know, people who didn't actually need any help because they were already wealthy.

01-31-2018 , 03:08 PM

#2468

goofyballer

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I actually hadn't looked at my new paychecks yet. Turns out I get a luxury car too! This bill is great!

Spoiler:

01-31-2018 , 03:09 PM

#2469

Trolly McTrollson

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Good to know old white dudes are doing okay in Trump's America, I was worried.

01-31-2018 , 03:13 PM

#2470

raradevils

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Quote:

Originally Posted by goofyballer

I actually hadn't looked at my new paychecks yet. Turns out I get a luxury car too! This bill is great!

Spoiler:

Wait, your taxes didn't go up as the dems were telling everyone?

I thought only the wealthy were going to benefit.

01-31-2018 , 03:18 PM

#2471

TiltedDonkey

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Join Date: Sep 2013 Posts: 2,975

rara, do you not pay social security tax? Do you not hit the threshold on that somewhere in the middle of the year?

01-31-2018 , 03:19 PM

#2472

goofyballer

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Quote:

Originally Posted by raradevils

Wait, your taxes didn't go up as the dems were telling everyone?

I thought only the wealthy were going to benefit.

Lots of people's taxes are going up, but since I'm pretty well-off and don't need any more money whatsoever, the GOP decided to give me a gift. I'm white, both in collar and skin color - I deserve it!

01-31-2018 , 03:21 PM

#2473

goofyballer

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Quote:

Originally Posted by raradevils

$20? Mine each month is large enough to make a luxury car payment.

Quote:

Originally Posted by TiltedDonkey

rara, do you not pay social security tax? Do you not hit the threshold on that somewhere in the middle of the year?

Heh good point, I was only looking at the change in federal withholding but my January paychecks are like 1k lower each than my December ones for that reason

01-31-2018 , 03:24 PM

#2474

raradevils

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Quote:

Originally Posted by Trolly McTrollson

Good to know old white dudes are doing okay in Trump's America, I was worried.

It was nice to see the trust fund baby rolled out for the dem response to the sotus. Another one of those that knows what it's like for every common man.