Welcome Guest [Log In] [Register]
Welcome to The New Coffee Room. We hope you enjoy your visit.


You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.


Join our community!


If you're already a member please log in to your account to access all of our features:

Username:   Password:
Add Reply
  • Pages:
  • 1
  • 2
Tax Reform Wheel Tracker
Topic Started: Jan 11 2018, 07:03 AM (977 Views)
George K
Member Avatar
Finally
Copper
Feb 4 2018, 01:42 PM
Stop spending.

Now, that's just crazy talk.
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
Offline Profile Quote Post Goto Top
 
George K
Member Avatar
Finally
Chipotle

Quote:
 
The company is rolling out benefits reaching all of its 71,000 employees, including special cash and stock bonuses and enhanced paid and parental leave.

Qualified hourly employees and salaried restaurant employees will receive a special one-time cash bonus of up to $1,000, and some staff employees will receive a one-time stock grant.

Other offerings will include accelerated training programs, and additional paid parental leave for everyone, from hourly managers to salaried employees.

The company also added life insurance and short-term disability insurance coverage for hourly restaurant managers.
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
Offline Profile Quote Post Goto Top
 
Luke's Dad
Member Avatar
Emperor Pengin
You know, I can't help but wonder about the possibility of these raises and bonuses causing inflationary pressure. Would it make more sense to do slightly smaller raises and bonuses, and offer some price drops back to the consumer, instead?
The problem with having an open mind is that people keep trying to put things in it.
Offline Profile Quote Post Goto Top
 
jon-nyc
Member Avatar
Cheers
Bonuses are a one time event. Great morale builder, and great PR. Raises and price drops have a lot of friction that makes them hard to reverse.

In my defense, I was left unsupervised.
Offline Profile Quote Post Goto Top
 
Axtremus
Member Avatar
HOLY CARP!!!
The business tax rates' reductions are permanent.
Why are the increase in workers' remunerations not permanent?
Three possibilities:
1. Businesses need more time to plan/institute "permanent" changes
2. Businesses too greedy and want to pocket all the benefits of the tax rate reductions in the future, not sharing with the workers
3. Businesses not confident that the positive effects of the tax rate reductions will last

1 as an excuse can only lasts a short while, likely no more than a year.

2 can go on forever

3 as an excuse can also only lasts a short while ... after some time observing, businesses eventually have to conclude whether the positive effects of tax rate reductions are long lasting or ephemeral.

Give this tax cut thing 2~3 years, and we'll see whether the business tax rate cuts will lead to long lasting boost to workers' income (and if so, by how much).
Offline Profile Quote Post Goto Top
 
Davis
Member Avatar
Fulla-Carp
I predict wages are going up and it will manifest itself in BLS reports. I see people are making predictions so we can review. Wage raises do take a while in any planning cycle.
Offline Profile Quote Post Goto Top
 
Copper
Member Avatar
Shortstop
Axtremus
Feb 7 2018, 02:59 PM

Why are the increase in workers' remunerations not permanent?

Freedom.
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
Offline Profile Quote Post Goto Top
 
Davis
Member Avatar
Fulla-Carp
https://www.marketwatch.com/story/jobless-claims-drop-9000-to-221000-remain-near-45-year-low-2018-02-08
Offline Profile Quote Post Goto Top
 
George K
Member Avatar
Finally
CVS

Quote:
 
CVS will boost starting pay for hourly employees to $11 per hour from $9 per hour, starting in April. Pay ranges and rates will be adjusted for many of its retail pharmacy technicians, front store associates and other hourly retail employees later in the year. Full-time employees will qualify for as much as four weeks of paid parental leave, and worker health-care premiums will hold steady at current rates.

The health-care company has more than 240,000 employees.
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
Offline Profile Quote Post Goto Top
 
John Galt
Fulla-Carp
Quote:
 
While many companies are using President Trump's tax cuts to give workers bonuses or raise wages, the maker of Kleenex and Huggies is doing the opposite.

Kimberly-Clark announced on Tuesday that it would cut between 5,000 and 5,500 jobs, or roughly 12 or 13% of the company's employees.

The personal care product company also announced plans to shut down 10 manufacturing facilities. The restructuring program is estimated to save Kimberly-Clark $500 to $550 million by the end of 2021.

The company said it plans to use savings from the Republican tax plan to fund the cuts and other restructuring efforts, The New York Times reported. Tax savings would additionally be used for capital investments and to allocate capital to shareholders, CFO Maria Henry said in a call with analysts.


http://www.businessinsider.com/kimberly-clark-pays-for-layoffs-with-trump-tax-cuts-2018-1

edit: They got Wisconsin state tax incentives, too.

Quote:
 
One of the Fox Valleyís largest employers has announced it is closing two Wisconsin plants and eliminating 600 jobsóbut that wonít change its eligibility to claim a state tax credit that nearly eliminates the requirement for manufacturers to pay state income taxes. Thatís because businesses can claim the credit even if they lay off workers, shutter factories, or ship jobs overseas.

The Manufacturing and Agriculture Credit costs the state an estimated $276 million this year in tax breaks for manufacturers and agricultural producers. Thatís a lot of money. For example, thatís more than all the tuition and fees combined paid by students in Wisconsinís technical college system.

For such a big tax break, you might think that the state would require a great deal of accountability on the part of manufacturers receiving the credit. But in fact, there is no requirement that businesses create even a single job to receive the credit. Kimberly-Clarkís announcement illustrates that allowing a corporation to get away with paying next to nothing in income taxes doesnít mean that corporation will increase the number of workers it employs.


https://urbanmilwaukee.com/2018/02/12/wisconsin-budget-the-lesson-of-kimberly-clark-layoffs/
Edited by John Galt, Feb 13 2018, 06:55 AM.
Let us begin anew, remembering on both sides that civility is not a sign of weakness.
Offline Profile Quote Post Goto Top
 
Copper
Member Avatar
Shortstop
John Galt
Feb 13 2018, 06:52 AM

Quote:
 
For such a big tax break, you might think that the state would require a great deal of accountability on the part of manufacturers receiving the credit.



Making a deal is an art.
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
Offline Profile Quote Post Goto Top
 
Davis
Member Avatar
Fulla-Carp
In the last 9 days the tracker has gone from 3 million to 3.5 million people. Thatís more than 50,000 a day, tough pace to keep up.
Offline Profile Quote Post Goto Top
 
John Galt
Fulla-Carp
Quote:
 
Donald Trumpís promise that corporations will use his giant new tax cut to make new investments and raise workersí wages is proving to be about as truthful as his promise to release his tax returns.

The results are coming in, and guess what? Almost all the extra money is going into stock buybacks. Since the tax cut became law, buy-backs have surged to $88.6 billion. Thatís more than double the amount of buybacks over the same period last year, according to data provided by Birinyi Associates.

Compare this with the paltry $2.5 billion worth of employee bonuses corporations say theyíll dispense in response to the tax law, and you see the bonuses for what they are: a small fig leaf to disguise the big buybacks....

Money spent on buybacks isnít reinvested in new equipment, research or factories. Buybacks donít add jobs or raise wages. They donít increase productivity. They donít grow the American economy.

Yet CEOs love buybacks because most CEO pay is now in shares of stock and stock options rather than cash. So when share prices go up, executives reap a bonanza.

At the same time, the value of CEO pay from previous years also rises in what amounts to a retroactive (and off the books) pay increase ó on top of their already humongous compensation packages.

Big investors also love buybacks because they increase the value of their stock portfolios. Now that the richest 10 percent of Americans own 84 percent of all shares of stock (up from 77 percent at the turn of the century), this means even more wealth at the top.

Buybacks used to be illegal. The Securities and Exchange Commission considered them unlawful means of manipulating stock prices, in violation of the Securities Acts of 1933 and 1934.

In those days, the typical corporation put about half its profits into research and development, plant and equipment, worker retraining, additional jobs and higher wages. But under Ronald Reagan, who rhapsodized about the ďmagic of the market,Ē the SEC legalized buybacks.

After that, buybacks took off. Just in the past decade, 94 percent of corporate profits have been devoted to buybacks and dividends, according to researchers at the Academic-Industry Research Network.

Last year, big American corporations spent a record $780 billion buying back their shares of stock. And that was before the new tax law.

Put another way, the new tax law is giving Americaís wealthy not one but two big windfalls: They stand to gain the most from the tax cuts for individuals, and theyíre the big winners from the tax cuts for corporations.


http://www.heraldextra.com/news/opinion/national-editorials/reich-trump-s-tax-cut-is-fueling-stock-buybacks-not/article_35137826-8ae4-5658-891a-55fd477fb878.html

Lots more about stock buybacks from Seeking Alpha: https://seekingalpha.com/article/4139081-stock-buybacks-make-rich-richer-poorer
Let us begin anew, remembering on both sides that civility is not a sign of weakness.
Offline Profile Quote Post Goto Top
 
Davis
Member Avatar
Fulla-Carp
Robert Reich, is this why the market surged, but if so why are we correcting? The massive amounts you are talking about didnít move the market and those companies sure took a haircut? What is going on?
Offline Profile Quote Post Goto Top
 
Davis
Member Avatar
Fulla-Carp
NFSTDS

Donít look at this monthís job report. It will ruin your weekend.
Offline Profile Quote Post Goto Top
 
Kincaid
Member Avatar
HOLY CARP!!!
John Galt
Feb 13 2018, 06:52 AM
While many companies are using President Trump's tax cuts to give workers bonuses or raise wages, the maker of Kleenex and Huggies is doing the opposite.

Kimberly-Clark announced on Tuesday that it would cut between 5,000 and 5,500 jobs, or roughly 12 or 13% of the company's employees.
Some jobs suffer during a booming economy. Much less need for Kleenex these days since crying is way down.
Kincaid - disgusted Republican Partisan since 2006.
Offline Profile Quote Post Goto Top
 
Kincaid
Member Avatar
HOLY CARP!!!
John Galt
Feb 14 2018, 05:15 AM
Big investors also love buybacks because they increase the value of their stock portfolios.
Since 90% of my 401k is in stocks, why can't small investors like me love an increase in value of my stock portfolio?
Kincaid - disgusted Republican Partisan since 2006.
Offline Profile Quote Post Goto Top
 
Kincaid
Member Avatar
HOLY CARP!!!
Now I did hear today that although jobs jumped much more than expected, wages did not increase as much as they thought. So that is somewhat disappointing.

However, my wife and I (making a combined $110k per year these days) did see our take home pay go up by $1600+ per year due to less withholding. And while it was not even tangentially related to the tax cuts I did receive the largest raise I have ever had in my life - a very surprising 13%.
Edited by Kincaid, Mar 9 2018, 10:49 AM.
Kincaid - disgusted Republican Partisan since 2006.
Offline Profile Quote Post Goto Top
 
jon-nyc
Member Avatar
Cheers
Davis
Feb 13 2018, 07:11 PM
In the last 9 days the tracker has gone from 3 million to 3.5 million people. Thatís more than 50,000 a day, tough pace to keep up.
Except, do any of us know what the baseline is?


https://www.bloomberg.com/view/articles/2018-03-09/are-tax-cuts-driving-raises-it-s-hard-to-see-in-the-jobs-report
In my defense, I was left unsupervised.
Offline Profile Quote Post Goto Top
 
Davis
Member Avatar
Fulla-Carp
jon-nyc
Mar 9 2018, 10:57 AM
Davis
Feb 13 2018, 07:11 PM
In the last 9 days the tracker has gone from 3 million to 3.5 million people. Thatís more than 50,000 a day, tough pace to keep up.
Except, do any of us know what the baseline is?


https://www.bloomberg.com/view/articles/2018-03-09/are-tax-cuts-driving-raises-it-s-hard-to-see-in-the-jobs-report
Of course this is a legitimate point, just as the acceleration under Obama was after our worst economy in most our lifetimes.

That said making it more attractive for US businesses to do business in the US makes sense to many.

How nice it is to debate the wisdom of Trump economic policy versus whether he is mentally ill and a madman bent on nuclear annihilation with North Korea, or a banana republic under Putin.

Offline Profile Quote Post Goto Top
 
Davis
Member Avatar
Fulla-Carp
And Jon, if you real question is intellectual honesty isnít the real question what is the baseline Krugman etal who argued the impending economic disaster under Trump. The goal posts have definitely been moved...to a new stadium so the ball has to go over the current one now.
Offline Profile Quote Post Goto Top
 
Larry
Member Avatar
Mmmmmmm, pie!
Galt, before you and Ax get too carried away with your attempts to prop up Obama's horrible presidency, you might want to look at the truth about those "two million jobs per year" you claim were created under Obama..

http://time.com/money/4636761/jobs-barack-obama-presidency/

Quote:
 
the unemployment rate is misleading because it only measures those without jobs who are actively seeking employment. Whatís overlooked is the huge population of workers who have simply dropped out of the labor market.


Quote:
 
For nearly every month over the past three years, the unemployment rate has been below 6% and the workforce participation rate has ranged between 62.5% to 63%. Thatís significantly lower than the 66% rate before the Great Recession. Workforce participation hasnít been as low as itís been lately since the Jimmy Carter-era economic malaise of the 1970s. How many people have given up on seeking jobs? In 2014, FiveThirtyEight estimated that 8 million working-age Americans were not employed but also not counted in the unemployment rate because theyíd stopped looking for jobs.

Roughly one out of every six prime-age American males (ages 25 to 54) has either dropped out of the workforce or is otherwise unemployed. Obviously, if all of these men, plus all the others who have given up on the labor market, were counted in the unemployment rate, it would be a higher than the sub-5% levels of 2016.


Secondly, of the actual jobs created while Obama was in office, the vast majority of them were in the public sector, staffing the huge government expansion he crippled the country with.

So much for your theory.

Now - Ax, you run to the store and get me a pack of Diet Coke, and Galt.... make me a sammich.
Of the Pokatwat Tribe

Offline Profile Quote Post Goto Top
 
George K
Member Avatar
Finally
http://www.mlive.com/business/ann-arbor/index.ssf/2018/03/mcdonalds_investing_150_millio.html
Quote:
 
McDonald's Corp. is earmarking $150 million for college-tuition assistance for its employees, the fast food giant announced Wednesday, March 29.

The money will fund its Archways to Opportunity education program, which assists employees with college tuition assistance at community colleges, universities or trade schools and connect them with English language courses and education advising services.

McDonald's said the funding was available through changes in the U.S. tax law implemented by the Trump administration, which lowered the corporate income tax rate.

Eligible crew members can get up to $2,500 and managers up to $3,000 a year in college tuition assistance, starting May 1 and retroactive to Jan. 1 of this year.
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
Offline Profile Quote Post Goto Top
 
Luke's Dad
Member Avatar
Emperor Pengin
George K
Mar 29 2018, 09:09 AM
http://www.mlive.com/business/ann-arbor/index.ssf/2018/03/mcdonalds_investing_150_millio.html
Quote:
 
McDonald's Corp. is earmarking $150 million for college-tuition assistance for its employees, the fast food giant announced Wednesday, March 29.

The money will fund its Archways to Opportunity education program, which assists employees with college tuition assistance at community colleges, universities or trade schools and connect them with English language courses and education advising services.

McDonald's said the funding was available through changes in the U.S. tax law implemented by the Trump administration, which lowered the corporate income tax rate.

Eligible crew members can get up to $2,500 and managers up to $3,000 a year in college tuition assistance, starting May 1 and retroactive to Jan. 1 of this year.
I'm curious about whether it applies to trade schools as well. A lot of the kids (and adults) working in McDonalds are in positions where they are stuck. 4 years for a degree is just too far away for them to take a step forward in their lives, whereas a 1 year Plumbing Certificate or a 2 year associates degree for Dental Hygenists can be a life changer.
The problem with having an open mind is that people keep trying to put things in it.
Offline Profile Quote Post Goto Top
 
Jolly
Member Avatar
Geaux Tigers!
Luke's Dad
Mar 29 2018, 12:30 PM
George K
Mar 29 2018, 09:09 AM
http://www.mlive.com/business/ann-arbor/index.ssf/2018/03/mcdonalds_investing_150_millio.html
Quote:
 
McDonald's Corp. is earmarking $150 million for college-tuition assistance for its employees, the fast food giant announced Wednesday, March 29.

The money will fund its Archways to Opportunity education program, which assists employees with college tuition assistance at community colleges, universities or trade schools and connect them with English language courses and education advising services.

McDonald's said the funding was available through changes in the U.S. tax law implemented by the Trump administration, which lowered the corporate income tax rate.

Eligible crew members can get up to $2,500 and managers up to $3,000 a year in college tuition assistance, starting May 1 and retroactive to Jan. 1 of this year.
I'm curious about whether it applies to trade schools as well. A lot of the kids (and adults) working in McDonalds are in positions where they are stuck. 4 years for a degree is just too far away for them to take a step forward in their lives, whereas a 1 year Plumbing Certificate or a 2 year associates degree for Dental Hygenists can be a life changer.
Don't know about your part of the world, but down here the trade schools morphed into "community colleges". Pretty much all the same courses, except for some remedial English and math.

So, in our case, I think we'd qualify....
The main obstacle to a stable and just world order is the United States.- George Soros
Offline Profile Quote Post Goto Top
 
DealsFor.me - The best sales, coupons, and discounts for you
Go to Next Page
« Previous Topic · The New Coffee Room · Next Topic »
Add Reply
  • Pages:
  • 1
  • 2