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The Tax Reform wheel spins for walmart
Topic Started: Jan 11 2018, 05:18 AM (666 Views)
Davis
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Fulla-Carp
There have been enough announcements already that we should probably start a job creation, wage increase and bonus wheel.

Today’s contestant is:

https://www.cnbc.com/2018/01/11/walmart-to-boost-starting-wage-give-employees-bonus-after-tax-bill.html

Remind me again why the public hated the legislation. :lol2: :lol2:
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Mikhailoh
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If you want trouble, find yourself a redhead
I know only one guy who is really unhappy. He took out home equity loans to buy houses for his kids. Now he can't deduct the interest.
"I have strong feelings about gun control. If there's a gun around, I want to be controlling it." Clint Eastwood, Pink Cadillac
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George K
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Finally
Mikhailoh
Jan 11 2018, 05:28 AM
I know only one guy who is really unhappy. He took out home equity loans to buy houses for his kids. Now he can't deduct the interest.
Home equity interest is still deductible if used to finance the purchase of your primary residence.

Still gotta exceed that $24K threshold, however.
Edited by George K, Jan 11 2018, 05:32 AM.
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Mikhailoh
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If you want trouble, find yourself a redhead
Yes. I suspect he will still benefit. The houses he purchased are unlikely to generate $12K interest annually. He just won't get as much of a break as others.
"I have strong feelings about gun control. If there's a gun around, I want to be controlling it." Clint Eastwood, Pink Cadillac
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jon-nyc
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Cheers
Davis
Jan 11 2018, 05:18 AM
Remind me again why the public hated the legislation.
- Massive increase in deficit and debt
- Corporations are largest beneficiaries.
- Most individual tax cuts expire in just a few years
- Explicit partisan targeting with certain tax increases
- Ignored carried interest despite repeated and loud claims to the contrary during the campaign
- Boldface lies by Trump about not personally benefitting from the plan
- Unpopular (and mostly tax irrelevant) additions like ANWR drilling


Hey, you asked.
Clowns to the left of me, jokers to the right.
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John Galt
Fulla-Carp
Will be interesting to see if bonuses are just a 2018 phenomenon and quietly disappear after that, while the corporations continue to enjoy their reduced tax burden into the future.
Let us begin anew, remembering on both sides that civility is not a sign of weakness.
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Davis
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Fulla-Carp
jon-nyc
Jan 11 2018, 06:15 AM
Davis
Jan 11 2018, 05:18 AM
Remind me again why the public hated the legislation.
- Massive increase in deficit and debt
- Corporations are largest beneficiaries.
- Most individual tax cuts expire in just a few years
- Explicit partisan targeting with certain tax increases
- Ignored carried interest despite repeated and loud claims to the contrary during the campaign
- Boldface lies by Trump about not personally benefitting from the plan
- Unpopular (and mostly tax irrelevant) additions like ANWR drilling


Hey, you asked.
You give them so much credit for such long term thinking, seriously? You know what is going to happen when they get their palm greased. Hey, it’s right out of the dem playbook.

But you are right, I’ll grant you that.
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George K
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Finally
jon-nyc
Jan 11 2018, 06:15 AM
Hey, you asked.
Quote:
 
- Massive increase in deficit and debt
I won't descend into whataboutism. Wait...I just did.
Quote:
 
- Most individual tax cuts expire in just a few years
As required to get it through via reconciliation
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"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

"There are 57 different genders, but politics is binary."
- David Burge, 7/29/18
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Davis
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Fulla-Carp
John Galt
Jan 11 2018, 06:26 AM
Will be interesting to see if bonuses are just a 2018 phenomenon and quietly disappear after that, while the corporations continue to enjoy their reduced tax burden into the future.
That is quite the concession, I guess you are hunkering down for a long year.
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George K
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Finally
John Galt
Jan 11 2018, 06:26 AM
Will be interesting to see if bonuses are just a 2018 phenomenon and quietly disappear after that, while the corporations continue to enjoy their reduced tax burden into the future.
https://www.cnbc.com/2018/01/11/walmart-to-boost-starting-wage-give-employees-bonus-after-tax-bill.html
Quote:
 
The big-box retailer announced Thursday it will increase its starting wage rate for hourly employees in the U.S. to $11, and expand maternity and parental leave benefits. Currently, Walmart's starting wage is $9 until workers complete a training program. Then, they receive $10.

Walmart will also pay a one-time cash bonus to eligible employees of as much as $1,000. The payouts, which should total roughly $400 million, will result in a one-time charge that the company will take in the fourth quarter of this year.

The bonuses will be determined by an employee's length of service at the company. Those workers with more than 20 years of experience will qualify to receive the full $1,000. However, workers with less than two years of experience will receive $200, a Walmart spokesman told CNBC.

Employees with 15 to 19 years of service at Walmart will receive $750, while those with 10 to 14 years of work there will receive a $400 bonus, he said. Five to nine years of experience merits a $300 bonus, while two to four years of service will result in a payout of $250.

In expanding its parental and maternity leave policy, Walmart will offer full-time hourly employees in the U.S. 10 weeks of paid maternity leave and six weeks of paid parental leave. Salaried workers will also receive six weeks of paid parental leave.

Prior to these changes, full-time hourly workers were only eligible for up to eight weeks of paid maternity leave and two weeks for paid parental leave.

The company is also creating a new benefit that provides financial assistance to its employees who are looking to adopt a child, giving them as much as $5,000 per child to cover expenses such as adoption agency fees, translation fees and legal costs
Other than the bonus, these sound like permanent changes.
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"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

"There are 57 different genders, but politics is binary."
- David Burge, 7/29/18
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Davis
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Fulla-Carp
Hats off to NPR picking up the story and covering it fairly.

https://www.npr.org/sections/thetwo-way/2018/01/11/577314202/citing-new-tax-law-walmart-to-raise-starting-wages-expand-parental-leave
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jon-nyc
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Cheers
Davis
Jan 11 2018, 06:27 AM
jon-nyc
Jan 11 2018, 06:15 AM
Davis
Jan 11 2018, 05:18 AM
Remind me again why the public hated the legislation.
- Massive increase in deficit and debt
- Corporations are largest beneficiaries.
- Most individual tax cuts expire in just a few years
- Explicit partisan targeting with certain tax increases
- Ignored carried interest despite repeated and loud claims to the contrary during the campaign
- Boldface lies by Trump about not personally benefitting from the plan
- Unpopular (and mostly tax irrelevant) additions like ANWR drilling


Hey, you asked.
You give them so much credit for such long term thinking, seriously? You know what is going to happen when they get their palm greased.
The opposite is the case, if you’re curious.


But your response makes no sense. What did you mean to say? If you have a point, phrase it as such, rather than as a question.
Clowns to the left of me, jokers to the right.
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jon-nyc
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Cheers
George K
Jan 11 2018, 06:29 AM
jon-nyc
Jan 11 2018, 06:15 AM
Hey, you asked.
Quote:
 
- Massive increase in deficit and debt
I won't descend into whataboutism. Wait...I just did.
Quote:
 
- Most individual tax cuts expire in just a few years
As required to get it through via reconciliation
It was a choice. They could have had the corporate tax rate go up instead. Or not affect the deficit so much in the first place.
Clowns to the left of me, jokers to the right.
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Davis
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Fulla-Carp
You give the public, who largely cannot name their Congresscritters or other pertinent policy info, credit for valuing concepts beyond their level of comprehension.
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Jolly
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Geaux Tigers!
jon-nyc
Jan 11 2018, 06:15 AM
Davis
Jan 11 2018, 05:18 AM
Remind me again why the public hated the legislation.
- Massive increase in deficit and debt
- Corporations are largest beneficiaries.
- Most individual tax cuts expire in just a few years
- Explicit partisan targeting with certain tax increases
- Ignored carried interest despite repeated and loud claims to the contrary during the campaign
- Boldface lies by Trump about not personally benefitting from the plan
- Unpopular (and mostly tax irrelevant) additions like ANWR drilling


Hey, you asked.
The tax cuts won't expire. Oh, they might get close, but I don't think any politician wants to take money out of people's pockets when they know he's taking it.
The main obstacle to a stable and just world order is the United States.- George Soros
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jon-nyc
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Cheers
I agree they’re likely to be extended in some form. But the law is what it is.
Clowns to the left of me, jokers to the right.
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Jolly
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Geaux Tigers!
jon-nyc
Jan 11 2018, 07:27 AM
I agree they’re likely to be extended in some form. But the law is what it is.
And drilling on the North Slope ain't unpopular down here. It's how a lot of folks make their living. Worry more about them easing up the safety regs in the Gulf...
The main obstacle to a stable and just world order is the United States.- George Soros
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George K
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Finally
Waste Management to give $68M in bonuses:
Quote:
 
Waste Management said Wednesday that it will give $2,000 in special bonuses to about 34,000 employees.

The company said the cash bonuses will be given to its North American employees who are not on a bonus or sales incentive plan, including hourly and other employees.

The news comes after other companies have made similar announcements, citing the passage of tax legislation that slashes the corporate tax rate to 21 percent from 35 percent.
A guide to GKSR: Click

"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

"There are 57 different genders, but politics is binary."
- David Burge, 7/29/18
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Copper
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Shortstop
George K
Jan 11 2018, 12:22 PM
Quote:
 
The company said the cash bonuses will be given to its North American employees who are not on a bonus or sales incentive plan, including hourly and other employees.

The rich getting richer

Posted Image

The Confederate soldier was peculiar in that he was ever ready to fight, but never ready to submit to the routine duty and discipline of the camp or the march. The soldiers were determined to be soldiers after their own notions, and do their duty, for the love of it, as they thought best. Carlton McCarthy
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George K
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Finally
Wally World closing 63 Sam's Club stores
Quote:
 
On the same breath that Walmart (WMT) announced that it is raising its hourly wages to $11 and giving employees bonuses due to tax return, the world’s largest retailer also revealed it’s closing 63 Sam’s Club locations across the U.S., which will ultimately lay off thousands of workers.

The news of the exact locations was first reported by Business Insider, but later followed by a tweet from Sam’s Club’s official account.

“After a thorough review of our existing portfolio, we’ve decided to close a series of clubs and better align our locations with our strategy. Closing clubs is never easy and we’re committed to working with impacted members and associates through this transition,” the company tweeted.
A guide to GKSR: Click

"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

"There are 57 different genders, but politics is binary."
- David Burge, 7/29/18
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Mark
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HOLY CARP!!!
:lol:
___.___
(_]===*
o 0
When I see an adult on a bicycle, I do not despair for the future of the human race. H.G. Wells
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Larry
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Mmmmmmm, pie!
John Galt
Jan 11 2018, 06:26 AM
Will be interesting to see if bonuses are just a 2018 phenomenon and quietly disappear after that, while the corporations continue to enjoy their reduced tax burden into the future.
Posted Image
Of the Pokatwat Tribe

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jon-nyc
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Cheers
John Galt
Jan 11 2018, 06:26 AM
Will be interesting to see if bonuses are just a 2018 phenomenon and quietly disappear after that, while the corporations continue to enjoy their reduced tax burden into the future.
What do you think this is, some kind of PR stunt?


You're such a cynic.

Clowns to the left of me, jokers to the right.
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George K
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Finally
https://www.cnbc.com/2018/01/11/fiat-chrysler-to-invest-more-than-1-billion-in-michigan-plant-and-give-2000-bonuses-in-response-to-tax-reform.html
Quote:
 
Fiat Chrysler announced Thursday that it will up its investment in the United States and pay some of its employees special bonuses after the recent tax code overhaul.

CEO Sergio Marchionne said in a statement that these announcements reflect the company's ongoing commitment to manufacturing in the U.S. He also cited the recently signed tax bill as an opportunity to share the savings with Fiat Chrysler employees.

The automaker said it will invest more than $1 billion in a Michigan plant and relocate production of its Ram Heavy Duty truck in 2020. That model is currently being produced in Saltillo, Mexico.

Fiat Chrysler said this decision would create about 2,500 jobs in addition to the ones that have been previously announced.

The company said it will also pay 60,000 of its U.S. employees bonuses of $2,000 each. Fiat Chrysler said these bonuses would not include senior leadership.
A guide to GKSR: Click

"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

"There are 57 different genders, but politics is binary."
- David Burge, 7/29/18
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Davis
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Fulla-Carp
It’s only day 12 of the new year and recent passage of tax reform. Typically planning for salary changes takes time, easier to give a bonus. We will see over time exactly what happens. We already have people with firm opinions, hope we will have that moment of accountability. :lol2:
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