AT&T handing out $200 million plus in bonuses because of GOP tax cut, Corporate tax rates cut to 21% from 35%, Invest additional $1 billion in the US in 2018
“The truth is, raising the minimum wage could be just about the worst thing he could do for the jobs market. We are already 7 million jobs in the hole, 7 million fewer jobs than when the President took office. Raising the minimum wage means employers whose businesses are struggling will simply get rid of jobs. They will cut workers. According to the Heritage Foundation, the last minimum wage increase eliminated 300,000 jobs”…Gerri Willis Fox News February 13, 2013
“One of the CBO’s most intriguing estimates is that by 2017 there will be 2 million fewer full-time jobs on the market than there would have been without Obamacare, and that figure could climb to 2.5 million by 2024.”…Market Watch February 4, 2014
“Businesses do not pay for taxes and minimum wage hikes, employees and consumers do”…Citizen Wells
From Business Insider.
“AT&T is handing out more than $200 million in special bonuses because of the GOP tax cut”
“AT&T says it will pay a $1,000 bonus to more than 200,000 US employees after the GOP tax bill is enacted — an announcement sure to please Republican lawmakers who have been pitching corporate tax cuts as a boost for American workers.
The bill, which Congress passed this week, reduces the corporate tax rate to 21% from 35% while allowing a one-time repatriation of overseas cash. Companies are mostly expected to buy back stock or pay down debt with their savings.
Still, AT&T was quick to announce its plan after the House voted to pass the bill on Wednesday.
“Once tax reform is signed into law, AT&T plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T US employees — all union-represented, non-management and front-line managers,” the company said in a press release. “If the president signs the bill before Christmas, employees will receive the bonus over the holidays.”
At an event at the White House on Wednesday afternoon, President Donald Trump called AT&T’s plan “pretty good.”
Last month, Stephenson blasted the Department of Justice over its plans to sue to block his company’s $84.5 billion takeover of Time Warner. At the time, Stephenson called the lawsuit “unprecedented” and said it “defies logic.”
Throughout his presidential campaign, Trump blasted the AT&T-Time Warner merger, saying, “Deals like this destroy democracy.” More recently, the president said he “always felt that was a deal that’s not good for the country.””