Davis
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4:35 PM - Feb 04, 2018 #21

When this post was initiated on Jan 11, their were 1 million who received tax reform bonuses. As of today it has tripled to over 3 million. In the meantime we have increasingly seen raises and many companies raise their minimum wage to $15 an hour. We will have to see if the trend continues, but the response has been very fast thus far.
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George K
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4:44 PM - Feb 04, 2018 #22

Copper wrote:
Winning.
https://www.washingtonpost.com/news/won ... this-year/
wrote:It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.
"Now look here, you Baltic gas passer... "
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Nothing is as effective as homeopathy.
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Improviso
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4:50 PM - Feb 04, 2018 #23

Identifying narcissists isn't difficult. Just look for the person who is constantly fishing for compliments
and admiration while breaking down over even the slightest bit of criticism.

We have the freedom to choose our actions, but we do not get to choose our consequences.
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Davis
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5:04 PM - Feb 04, 2018 #24

There are definite risks to tax reform, but as far as the stock market goes it could drop another 4000 points and still vastly outperformed the predictions of a Trump presidency.
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Copper
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9:42 PM - Feb 04, 2018 #25

George K wrote:
Copper wrote:
Winning.
https://www.washingtonpost.com/news/won ... this-year/
wrote:It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.
Stop spending.

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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10:57 PM - Feb 04, 2018 #26

Copper wrote:Stop spending.
Now, that's just crazy talk.
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George K
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2:33 PM - Feb 07, 2018 #27

Chipotle
wrote: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.
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Luke's Dad
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10:01 PM - Feb 07, 2018 #28

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.
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jon-nyc
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10:26 PM - Feb 07, 2018 #29

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.

Clowns to the left of me, jokers to the right.
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Axtremus
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10:59 PM - Feb 07, 2018 #30

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).
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Davis
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12:19 AM - Feb 08, 2018 #31

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.
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Copper
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2:55 AM - Feb 08, 2018 #32

Axtremus wrote: 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
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Davis
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1:54 PM - Feb 08, 2018 #33

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George K
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7:09 PM - Feb 08, 2018 #34

CVS
wrote: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.
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John Galt
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2:52 PM - Feb 13, 2018 #35

wrote: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 ... uts-2018-1

edit: They got Wisconsin state tax incentives, too.
wrote:One of the Fox Valley’s largest employers has announced it is closing two Wisconsin plants and eliminating 600 jobs—but that won’t change its eligibility to claim a state tax credit that nearly eliminates the requirement for manufacturers to pay state income taxes. That’s 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. That’s a lot of money. For example, that’s more than all the tuition and fees combined paid by students in Wisconsin’s 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-Clark’s announcement illustrates that allowing a corporation to get away with paying next to nothing in income taxes doesn’t mean that corporation will increase the number of workers it employs.
https://urbanmilwaukee.com/2018/02/12/w ... k-layoffs/
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Copper
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3:53 PM - Feb 13, 2018 #36

John Galt wrote:
wrote: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
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Davis
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3:11 AM - Feb 14, 2018 #37

In the last 9 days the tracker has gone from 3 million to 3.5 million people. That’s more than 50,000 a day, tough pace to keep up.
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John Galt
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1:15 PM - Feb 14, 2018 #38

wrote:Donald Trump’s promise that corporations will use his giant new tax cut to make new investments and raise workers’ 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. That’s 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 they’ll 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 isn’t reinvested in new equipment, research or factories. Buybacks don’t add jobs or raise wages. They don’t increase productivity. They don’t 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 — 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 “magic of the market,” 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 America’s wealthy not one but two big windfalls: They stand to gain the most from the tax cuts for individuals, and they’re the big winners from the tax cuts for corporations.
http://www.heraldextra.com/news/opinion ... fb878.html

Lots more about stock buybacks from Seeking Alpha: https://seekingalpha.com/article/413908 ... her-poorer
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Davis
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10:12 PM - Feb 14, 2018 #39

Robert Reich, is this why the market surged, but if so why are we correcting? The massive amounts you are talking about didn’t move the market and those companies sure took a haircut? What is going on?
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Davis
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5:09 PM - Mar 09, 2018 #40

NFSTDS

Don’t look at this month’s job report. It will ruin your weekend.
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