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Greedy Capitalist Pigs Celebrate Massive Tax Break … by Giving Employees More Money

21 December, 2017, 00:42 | Author: Samuel Sharp
  • Greedy Capitalist Pigs Celebrate Massive Tax Break … by Giving Employees More Money

U.S. President Donald Trump speaks during a rally at the St. Charles Convention Center on November 29, 2017 in St. Charles, Missouri.

FOX Business breaks down how employees at some major companies are benefitting from the corporate world's good fortune.

The company also announced that it will invest more than $1 billion into the US economy once the bill, the major first tax reform legislation since the Reagan era, becomes law.

AT&T announced Wednesday that it will give $1,000 special bonuses to more than 200,000 "union-represented, non-management and front-line managers" and invest an additional $1 billion in the US, citing the House and Senate passage of the sweeping Republican tax reform bill as its reason for doing so.

In his statement, AT&T chief executive Randall Stephenson called the new tax plan a "monumental step".


President Trump praised AT&T's bonus plans during a Rose Garden event celebrating Congress' passage of the tax plan.

"All union-represented, non-management and front-line managers" are eligible for the bonus.

Boeing, however, said on Wednesday it will use some of its tax savings on employees.

Wells Fargo and Fifth Third Bancorp announced plans on Wednesday to raise their minimum wage to $15 per hour. The idea that the new tax cuts will necessarily pay for themselves by generating federal revenue growth is dubious; the idea that the AT&T bonuses might pay for themselves by smoothing the way for merger approval isn't. The company says tax reform was directly responsible for the initiatives. "Carmichael said the tax cut allowed the Bank the opportunity to reevaluate its compensation structure and share some of those benefits with its talented and dedicated workforce". Some $100 million of that total will be committed to boosting small businesses, while $75 million will support neighborhood revitalization efforts.

Both the House and Senate passed the final version of the Republican tax bill on Wednesday, and a number of companies took the opportunity to announce special bonuses or pay hikes.

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