Trumps tax package delivering bonuses to workers already, but Democrats slag off companies offering them

Thumbs up for tax cut bonuses

Donald Trump passed a new tax package, substantially reducing taxes.

The dividends to workers have begun flowing almost immediately:

Walmart’s workers will soon reap the benefits of the recent tax law changes, as the world’s largest private employer raises its starting wage, creates new benefits and distributes bonuses to eligible workers.

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 its fiscal fourth quarter.

The bonuses will be determined by an employee’s length of service. 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.

Before 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. In a blog posted on the company’s website, CEO Doug McMillon said he had received feedback from multiple employees who thought the current adoption policy was limited.

Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.,” McMillon said in prepared remarks.

“We are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers and associates and to further strengthen our business, all of which should benefit our shareholders,” he added. “However, some guiding themes are clear and consistent with how we’ve been investing — lower prices for customers, better wages and training for associates and investments in the future of our company, including in technology.”

Brilliant, exactly what Trump wanted. More than 1 million people work for Walmart, they will benefit immediately. This will also put pressure on other big box organisations to match those benefits for staff.

However, the Democrats think that these changes are “so pathetic”.

Thursday at her weekly press conference, House Minority Leader Nancy Pelosi (D-CA) said the companies announcing wage increases and bonuses in light of the Republican tax bill were “so pathetic.”

Pelosi said, “The number of bonuses that were given, one of the bonuses was already in a union contract, and they added a little more money to that. That same firm just told their employees that they were going to be laying off 1,500 people and if they want to save their jobs, they could all start working 32 hours in those communities.”

She added, “So, in terms of the bonus that corporate America received versus the crumbs that they are giving to workers to kind of put the schmooze on is so pathetic. It’s so pathetic. I would hope that with their big advantage of bringing money home at a very low rate that they would invest in infrastructure and things, but the experience has been that they will do dividends, they’ll do stock buybacks and things like that. I think it’s insignificant.”

What a miserable socialist bint. No wonder the Democrats can’t work out why Hillary Clinton lost.

More than one million workers just benefited privately from federal corporate tax cuts…and they are too miserable to acknowledge it. What did the Democrats promise? Oh that’s right, nothing.

Nancy Pelosi is the poster child for the reason for term limits. I wonder how much she pays her staff at her hotel and her winery? I wonder if they would think such bonuses to be insignificant and pathetic?

It is like Labour cancelling the tax cuts from the budget and then pretending that they never cancelled them.

 

-Breitbart, MSNBC


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story.  And when he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet.   Cam Slater doesn’t do quiet, and as a result he is a polarising, controversial but highly effective journalist that takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him.  But you can’t ignore him.

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