Author Topic: Trump’s Economy (merged)  (Read 5544 times)

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Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #15 on: January 12, 2018, 10:56:29 AM »

Offline Roy H.

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The one-time bonuses could be largely PR, although they will help the economy.

The raises and increased benefit packages, like Walmart is implementing, are much more substantial.


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Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #16 on: January 12, 2018, 10:58:53 AM »

Offline Humble G

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Such a big tax cut that Walmart just closed 63 Sam's club locations without notice.....thats 11,000 workers

http://www.businessinsider.com/sams-club-stores-closing-list-2018-1

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Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #17 on: January 12, 2018, 11:00:14 AM »

Offline Spilling Green Dye

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That does not bother me, no. 

And why are they giving bonuses?  The tax law change doesn't affect what they did for 2017. 

Let's push it further - would you be okay with eliminating all taxes to corporations and in return eliminating all public roads, infrastructure, and schools if it meant you got a one-time $3,000 bonus? 

My company had a great year with $8million in extra EBITA profits than expected.  Do you know what they did with it?  Not hire more people.  Instead, they've penny-pinched our commission plans even further to see if they can get even higher profits.  The tax cuts won't affect my pay.  And there are numerous other companies that, if public, will just spend on buying back their shares instead of hiring more people. 

I can be okay with tax cuts if they make sense, and if they are balanced by cost cutting in areas we clearly overspend in without much return on investment (military for example).  But this massive tax cut won't benefit most people, costs will actually go up for healthcare (my industry) b/c we'll have more uninsured people, and unemployment will probably increase.  But enjoy your one-time bonus. 


Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #18 on: January 12, 2018, 11:06:37 AM »

Offline Pucaccia

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Such a big tax cut that Walmart just closed 63 Sam's club locations without notice.....thats 11,000 workers

http://www.businessinsider.com/sams-club-stores-closing-list-2018-1
Sam's club hasn't been a profit maker for some time. This decision was made a long time ago.

Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #19 on: January 12, 2018, 11:08:08 AM »

Offline Pucaccia

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The one-time bonuses could be largely PR, although they will help the economy.

The raises and increased benefit packages, like Walmart is implementing, are much more substantial.
I agree.  Nancy Pelosi called it pathetic. Imagine someone living paycheck to paycheck getting a raise and a bonus as pathetic.

Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #20 on: January 12, 2018, 11:42:27 AM »

Offline More Banners

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That does not bother me, no. 

And why are they giving bonuses?  The tax law change doesn't affect what they did for 2017. 

Let's push it further - would you be okay with eliminating all taxes to corporations and in return eliminating all public roads, infrastructure, and schools if it meant you got a one-time $3,000 bonus? 

My company had a great year with $8million in extra EBITA profits than expected.  Do you know what they did with it?  Not hire more people.  Instead, they've penny-pinched our commission plans even further to see if they can get even higher profits.  The tax cuts won't affect my pay.  And there are numerous other companies that, if public, will just spend on buying back their shares instead of hiring more people. 

I can be okay with tax cuts if they make sense, and if they are balanced by cost cutting in areas we clearly overspend in without much return on investment (military for example).  But this massive tax cut won't benefit most people, costs will actually go up for healthcare (my industry) b/c we'll have more uninsured people, and unemployment will probably increase.  But enjoy your one-time bonus.

I'm with you here. My taxes aren't going down, so there's no tax cut benefit for me and Mrs. Banners. We might see an increase of a few hundred. We're not enrolled in any public benefits and don't have kids in school, so no concerns about impending cuts there.

What could crimp our style is increasing interest rates. This tax move is no doubt a sharp economic stimulus. Many people are going to see some tangible benefit, from less withholding from paychecks, and that's their cut. On the other hand, debt-fueled stimulus like this risks higher interest rates, which makes car loans and mortgages more expensive, lowering purchasing power and possibly some property values for working-class and first home housing.

A little squeeze on taxes, a little squeeze on future car loan, little squeeze on the value of my house is what I'm expecting to be the long term impact for us of this tax bill. We own our  home,but don't make much money.

Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #21 on: January 12, 2018, 11:46:41 AM »

Offline trickybilly

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Lol. What, walmart saves billions and does nothing? They ain't stupid..

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Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #22 on: January 12, 2018, 11:55:31 AM »

Offline More Banners

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Lol. What, walmart saves billions and does nothing? They ain't stupid..

I still remember my mom buying ice create to shut me and my sistere up when we were kids

And that little check from GWB's tax cut.

I don't fault someone for selling out.  It's selling out cheap that p---es me off.

Imagine if they added as a compromise expanding the Medicare tax to other types of earnings to broaden the base as widely as possible, and then covered everyone both over 65 and under 25...

...taking them off of employer paid insurance, fed employee, retiree, military/tricare insurance, Medicaid and other insurance, and just went single-payer for kids like we do the aged. With an overall tax cut for wealthy and corporations, of course.

Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #23 on: January 12, 2018, 11:57:28 AM »

Offline Quetzalcoatl

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Y'all excited for the recession guys?

Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #24 on: January 12, 2018, 12:11:09 PM »

Offline nickagneta

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Yeah, generous Walmart. They will be giving around 1 million of their 1.4 million American workers around $700 million. Meanwhile their sales are $125 billion and they will be saving 10s of billions of dollars every year on taxes. Such corporate generousity.

Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #25 on: January 12, 2018, 12:49:23 PM »

Offline ConnerHenry

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What was lost in the "raise and bonus" announcement was Walmart closing stores and jobs being lost, as Humble G points out.

I work for a large entertainment company who just announced the closing of a HQ location and the loss of over 1,300 jobs. bonuses are flowing for those still with jobs at exec levels, but I can't give my employees a raise larger than 2%.

The Disney/Fox acquisition, if approved, will result in 5,000-10,000 jobs being cut (per Variety). Disney is paying dividends to share holders and record bonuses to Sr execs.

Regardless of political affiliation, one should be wary of headlines that serve as distractions from the whole story

Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #26 on: January 12, 2018, 12:55:21 PM »

Offline Humble G

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Walmart is playing catchup, they have needed to raise min wage for a while and have been doing so the last few years.

"Politics may have given Walmart cover to announce a wage increase while its core business remains under attack from competitors and the labor market. But nothing about the challenges the company faces is changing, which means this won’t be the last time the company closes dozens of stores, or the last time they announce a raise for thousands of workers."

https://www.yahoo.com/finance/news/even-without-tax-reform-walmart-needed-raise-wages-201028372.html
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Re: Because of Trumps Tax Cuts-100's of Companies giving Bonuses and Raises
« Reply #27 on: January 12, 2018, 12:59:49 PM »

Offline nickagneta

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Walmart is playing catchup, they have needed to raise min wage for a while and have been doing so the last few years.

"Politics may have given Walmart cover to announce a wage increase while its core business remains under attack from competitors and the labor market. But nothing about the challenges the company faces is changing, which means this won’t be the last time the company closes dozens of stores, or the last time they announce a raise for thousands of workers."

https://www.yahoo.com/finance/news/even-without-tax-reform-walmart-needed-raise-wages-201028372.html
Walmart pretty much already had plans to raise their minimum wage to $11 per hour. Over the last two years they raised their minimum to $9 then to $10 an hour. They also give little to no health insurance to hourly employees. The idea that Walmart is being generous to their hourly employees is a sham.

Re: Trump’s Economy (merged)
« Reply #28 on: January 16, 2018, 09:02:18 AM »

Offline Roy H.

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Quote
Economists Credit Trump as Tailwind for U.S. Growth, Hiring and Stocks

Economists surveyed by The Wall Street Journal say President Donald Trump has had generally positive effects on U.S. economic growth, hiring and the performance of the stock market during his first year in office.

The professional forecasters also predicted 2018 would see solid growth and a continued decline in the jobless rate. One factor: the tax cuts signed into law by Mr. Trump in December, which most economists say will boost the economy for several years at least.

https://www.wsj.com/articles/economists-credit-trump-as-tailwind-for-u-s-growth-hiring-and-stocks-1515682893

Quote
Economists agree: Trump, not Obama, gets credit for economy

Who deserves credit for the booming economy? This is not a petty argument. How voters answer the question could well determine whether Democrats retake the House of Representatives come November.

Trump and Obama (and their admirers) are slugging it out, both claiming that it is their policies that have led to the ongoing economic expansion, steady job growth and higher stock prices.

Happily for President Trump, the pros agree with him. A recent survey of economists suggest it is President Trump, and not Obama, who should be taking a bow

The Wall Street Journal asked 68 business, financial and academic economists who was responsible for the strengthening of the economy, and most “suggested Mr. Trump’s election deserves at least some credit” for the upturn.

A majority said the president had been “somewhat” or “strongly” positive for job creation, gross domestic product growth and the rising stock market.

The pros cite the White House’s push for lighter regulation and the recent tax bill as critical to a pro-growth environment; more than 90 percent of the group thought the tax bill would boost GDP expansion over the next two years.

A year ago in the same survey, economists awarded President Obama mixed grades. Most saw his policies as positive for financial stability, but neutral-to-negative for GDP growth and negative for long-term growth. By contrast, Trump was seen as neutral to positive for long-term gains.

Why would Trump rate higher than Obama with this group? Economists point to the upturn in business confidence that accompanied Trump’s election, and tie that to increasing business investment. Spending on capital goods accelerated sharply over the first three quarters of last year, growing at an annualized rate of 6.2 percent.

Such outlays will spur productivity gains and lead to wage hikes, creating a virtuous circle complete with rising consumer confidence and spending.

http://thehill.com/opinion/finance/368904-economists-agree-trump-not-obama-gets-credit-for-economy




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Re: Trump’s Economy (merged)
« Reply #29 on: January 16, 2018, 10:18:39 AM »

Offline kozlodoev

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Quote
Economists Credit Trump as Tailwind for U.S. Growth, Hiring and Stocks

Economists surveyed by The Wall Street Journal say President Donald Trump has had generally positive effects on U.S. economic growth, hiring and the performance of the stock market during his first year in office.

The professional forecasters also predicted 2018 would see solid growth and a continued decline in the jobless rate. One factor: the tax cuts signed into law by Mr. Trump in December, which most economists say will boost the economy for several years at least.

https://www.wsj.com/articles/economists-credit-trump-as-tailwind-for-u-s-growth-hiring-and-stocks-1515682893

Quote
Economists agree: Trump, not Obama, gets credit for economy

Who deserves credit for the booming economy? This is not a petty argument. How voters answer the question could well determine whether Democrats retake the House of Representatives come November.

Trump and Obama (and their admirers) are slugging it out, both claiming that it is their policies that have led to the ongoing economic expansion, steady job growth and higher stock prices.

Happily for President Trump, the pros agree with him. A recent survey of economists suggest it is President Trump, and not Obama, who should be taking a bow

The Wall Street Journal asked 68 business, financial and academic economists who was responsible for the strengthening of the economy, and most “suggested Mr. Trump’s election deserves at least some credit” for the upturn.

A majority said the president had been “somewhat” or “strongly” positive for job creation, gross domestic product growth and the rising stock market.

The pros cite the White House’s push for lighter regulation and the recent tax bill as critical to a pro-growth environment; more than 90 percent of the group thought the tax bill would boost GDP expansion over the next two years.

A year ago in the same survey, economists awarded President Obama mixed grades. Most saw his policies as positive for financial stability, but neutral-to-negative for GDP growth and negative for long-term growth. By contrast, Trump was seen as neutral to positive for long-term gains.

Why would Trump rate higher than Obama with this group? Economists point to the upturn in business confidence that accompanied Trump’s election, and tie that to increasing business investment. Spending on capital goods accelerated sharply over the first three quarters of last year, growing at an annualized rate of 6.2 percent.

Such outlays will spur productivity gains and lead to wage hikes, creating a virtuous circle complete with rising consumer confidence and spending.

http://thehill.com/opinion/finance/368904-economists-agree-trump-not-obama-gets-credit-for-economy
So a bunch of financial and business economists that are on the industry's payroll agree that Trump is responsible for an upswing that started in May 2016? Color me unimpressed.

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