Geee Posted January 9, 2018 Share Posted January 9, 2018 As the union-backed “Fight for $15” movement has sought to enact mandatory minimum-wage increases in states and localities across the country, tax reform seems to have spurred wage growth using a different approach. On the day President Donald Trump signed the sweeping tax-reform law, the New Jersey-based OceanFirst Financial Corp. issued a press release announcing “a commitment to increase the bank’s minimum hourly pay rate to $15.00 within 30 days of the enactment of the Tax Cuts and Jobs Act,” affecting 135 employees. It’s one of 21 companies that have announced raising their base wage to $15 per hour because of tax reform, on a running list compiled by Americans for Tax Reform that currently shows more than 120 companies have announced raises or bonuses for employees. Businesses large and small are taking the same action, citing tax reform as the reason, including some of OceanFirst’s much larger national competitors, such as Fifth Third Bancorp, with 13,500 employees, 3,000 of whom will benefit from the boost in base wage to $15, according to a company. Heritage Foundation 1 Link to comment Share on other sites More sharing options...
Valin Posted January 9, 2018 Share Posted January 9, 2018 ANOTHER MINIMUM WAGE FAIL: Red Robin Restaurants Eliminate All Busboys Hank Berrien January 9, 2018 On Monday, the national restaurant chain Red Robin announced it would eliminate busboys at all of its 570 restaurants, as the company expects it will save $8 million in 2018 by doing so. Red Robin’s chief financial officer Guy Constant told attendees at the ICR retail conference, “We need to do that to address the labor increases we’ve seen.” Michael Saltsman, director of the Employment Policies Institute (EPI), told FOX Business, “I read that as minimum wage. Somebody like Red Robin, which has a lot of exposure in western states [where the minimum wage is rising faster] … this is sort of a burger and beer chain. If they can’t pass those increases off in higher prices … they have to find a way to do more with less.” 851Franchise.com editor-in-chief Nick Powills added, “From a business standpoint, [Red Robin made a] very smart move. From an employee standpoint, you just cut out $8 million worth of labor. The interesting thing about the minimum wage hike is that those that made the decisions to do it, did it on behalf of the employee … when intentions are good, and you can’t appease everybody, someone is going to eventually be on the short [end of the] stick.” (Snip) 1 Link to comment Share on other sites More sharing options...
Valin Posted January 11, 2018 Share Posted January 11, 2018 ONE MILLION Americans (and counting) will receive tax reform bonuses John Kartch As of Jan. 10, 2018 – 7:30 p.m. ET Tax Cuts and Jobs Act Bonus Ticker: At least 1,039,839 Americans (and counting) will receive special bonuses from their employer thanks to tax reform <br> "Just ten days into 2018 the Tax Cuts and Jobs Act has changed the nation for the better. American companies are raising wages, paying bonuses, expanding operations and increasing 401(k) contributions. This growing list will be updated daily at www.atr.org/list" -- ATR president Grover Norquist (Please help ATR expand this list – if you know of any companies giving bonuses, pay hikes, 401(k) match increases, charitable donations etc. due to tax reform, please send to jkartch@atr.org) (Snip) __________________________________________________________________________________ Link to comment Share on other sites More sharing options...
Valin Posted January 11, 2018 Share Posted January 11, 2018 Power Line 2 Link to comment Share on other sites More sharing options...
Valin Posted January 12, 2018 Share Posted January 12, 2018 Bonus Bonus Bonus! Steven Hayward Jan. 11 2018 [I see John is after this story also, just below.] Is it still Christmas? Or is Nancy Pelosi just determined to be the gift that keeps on giving all year round? Today, in answer to a reporter’s question about the growing number of companies giving bonuses to their workforce because of the tax bill, said that the bonuses were “insignificant crumbs.” I’ll bet a lot of the people receiving the bonuses don’t think so, though we do have to sympathize with Pelosi, since she lives in a San Francisco neighborhood (when she isn’t up at her fancy Napa Valley vineyard and luxury resort) where $1,000 isn’t very much. Easy to see why she might sniff at such a trivial amount. (Snip) _____________________________________________________________________________________________ Link to comment Share on other sites More sharing options...
Valin Posted January 12, 2018 Share Posted January 12, 2018 ...... Stephanie Ruhle on Tax Reform: Looks Like People Will See More Money in Their Paychecks Right Away Cameron Cawthorne January 12, 2018 MSNBC host and NBC correspondent Stephanie Ruhle said Friday that most Americans will see an increase in their paychecks right away under the Republican tax reform law. NBC "Today" co-host Hoda Kotb said that the Internal Revenue Service (IRS) is out with revised income tax withholding tables and that whenever things get confusing with taxes, the show brings in Ruhle to explain the system. "There are going to be these IRS tax calculators that are coming out online, so you're going to put out next month and you're going to go online and say, ‘Here's my income, here's my family information,' and by putting that out, they're going to spit out a number," Ruhle said. "You're going to tell your employer if it seems too high or too low. Yes, it's making you nervous…. This tax bill went through very quickly. They don't have all the forms they need, but, according to the government, mid year, these companies should figure it out." Kotb asked Ruhle whether it looks like more people will get more money in their paychecks right away. (Snip) Link to comment Share on other sites More sharing options...
Valin Posted January 17, 2018 Share Posted January 17, 2018 Humana Will Increase Minimum Wage, Offer Incentive Pay Due to Tax Reform Ali Meyer January 17, 2018 Humana has announced it plans to increase its minimum wage for workers as well as offer incentive pay thanks to the tax reform package signed into law in December, the Louisville Courier Journal reported. "Like many U.S. companies, Humana will begin benefitting this year from a lower corporate income tax rate," the company said. "This provides Humana with the opportunity to make an investment in our employees, using the proceeds from tax reform to further the long-term financial health and well-being of our employee population." The health insurer plans to increase its minimum wage to $15 for both full-time and part-time employees and has changed plans to start its incentive pay program now instead of waiting until 2019. (Snip) Link to comment Share on other sites More sharing options...
Valin Posted January 17, 2018 Share Posted January 17, 2018 CNBC BREAKING: Apple says it will contribute more than $350 billion over the next five years to the US economy through investments, will add "over 20,000 new jobs through hiring at existing campuses and opening a new one"http://cnbc.com/id/104950854 12:02 PM - Jan 17, 2018 Apple announces plans to repatriate billions in overseas cash, says it will contribute $350 billion to the US economy over the next 5 years 10:02 AM - 17 Jan 2018 Link to comment Share on other sites More sharing options...
Valin Posted January 17, 2018 Share Posted January 17, 2018 @CNBC JUST IN: Apple will give employees a bonus of $2500 in restricted stock units due to the new tax reform law. 1:46 PM - 17 Jan 2018 Link to comment Share on other sites More sharing options...
Valin Posted January 18, 2018 Share Posted January 18, 2018 “I was at my son’s basketball game on Sunday. And a UAW worker from the Chrysler plant in Belvedere came up to me and said, ‘This is going to get me $4,000 in my paycheck. I thought this was only for the rich. I guess that’s me now." Paul Ryan 1 Link to comment Share on other sites More sharing options...
Valin Posted January 18, 2018 Share Posted January 18, 2018 Link to comment Share on other sites More sharing options...
Geee Posted January 18, 2018 Author Share Posted January 18, 2018 48 minutes ago, Valin said: “I was at my son’s basketball game on Sunday. And a UAW worker from the Chrysler plant in Belvedere came up to me and said, ‘This is going to get me $4,000 in my paycheck. I thought this was only for the rich. I guess that’s me now." Paul Ryan Hmmm. That's not even a Wisconsin resident. Belvedere is in Illinois 2 Link to comment Share on other sites More sharing options...
Valin Posted January 19, 2018 Share Posted January 19, 2018 The Out-of-Touch Party Adriana Cohen January 19, 2018 Democrats are out of touch. They made that abundantly clear when every liberal lawmaker rejected the Tax Cuts and Jobs Act and did everything possible to obstruct its historic passage. Instead of working in a bipartisan manner to help grow the U.S. economy and restore the American dream for all, liberal politicians -- including Democratic Party leadership -- told voters the GOP tax bill would be bad for them, bad for the economy and a gift to the rich. Then millions of Americans got a raise -- faster than liberals could knit another * pussy hat. (Snip) Apple's CEO told his employees in a letter: "I'm happy to announce that starting immediately and running through the end of 2018, Apple will match all employee charitable donations, up to $10,000 annually, at a rate of two to one. In addition, Apple will double the amount we match for each hour you donate your time." So the charity sector will also benefit from the GOP tax bill the out-of-touch party resisted. (Snip) ______________________________________________________________________________________ I suspect April 1 2018 will bring more bad news for San Fran Nan. * Whatever happened to them? Link to comment Share on other sites More sharing options...
Geee Posted January 24, 2018 Author Share Posted January 24, 2018 Disney, JP Morgan Chase Join Companies Handing Out Bonuses in Wake of Tax Reform Walt Disney Company and JP Morgan Chase on Tuesday joined a growing list of companies that have recently made plans to invest in their employees in the form of bonuses, wage increases, and education programs. Newly announced employee bonuses have been on the rise since President Donald Trump signed the GOP tax reform law in late December. Disney and JP Morgan have joined a number of prominent companies that have often cited tax reform as the motive to invest in employees, including Boeing, AT&T, Wells Fargo, Comcast, Bank of America and Walmart, CNBC reports. Disney announced Tuesday its plans to pay out $1,000 bonuses to 125,000 employees and to invest $50 million in employee education. "We are directing approximately $125 million to our cast members and employees across the country and making higher education more accessible with the launch of this new program," Disney CEO Bob Iger said in a statement. Link to comment Share on other sites More sharing options...
Valin Posted January 24, 2018 Share Posted January 24, 2018 3 hours ago, Geee said: Disney, JP Morgan Chase Join Companies Handing Out Bonuses in Wake of Tax Reform Walt Disney Company and JP Morgan Chase on Tuesday joined a growing list of companies that have recently made plans to invest in their employees in the form of bonuses, wage increases, and education programs. Newly announced employee bonuses have been on the rise since President Donald Trump signed the GOP tax reform law in late December. Disney and JP Morgan have joined a number of prominent companies that have often cited tax reform as the motive to invest in employees, including Boeing, AT&T, Wells Fargo, Comcast, Bank of America and Walmart, CNBC reports. Disney announced Tuesday its plans to pay out $1,000 bonuses to 125,000 employees and to invest $50 million in employee education. "We are directing approximately $125 million to our cast members and employees across the country and making higher education more accessible with the launch of this new program," Disney CEO Bob Iger said in a statement. Link to comment Share on other sites More sharing options...
Valin Posted January 24, 2018 Share Posted January 24, 2018 Starbucks Employees Just Got A Taste Of The Trump Effect James Barrett January 24, 2018 While Democratic House leader Nancy Pelosi might dismiss it as mere "crumbs," Starbucks employees across the country are getting a personal taste of the Trump effect on the economy — and it's all good. As public opinion of the Republicans' $1.5 trillion tax cut continues to improve for obvious reasons, Starbucks announced that it's joining the growing list of businesses nationwide who are passing down some of those massive tax savings to their employees. Specifically citing the GOP's tax reform bill, Starbucks announced this week that it will be giving its employees pay raises and stock grants. To throw more salt in the permanently open progressive wound, Starbucks says its also using the tax break to help it move forward with some pro-family measures. The Seattle Times reluctantly reports: (Snip) 2 Link to comment Share on other sites More sharing options...
Geee Posted January 25, 2018 Author Share Posted January 25, 2018 Home Depot Awards Employees Up to $1000 as ‘Tax Reform Bonus’ 2 Link to comment Share on other sites More sharing options...
Geee Posted January 26, 2018 Author Share Posted January 26, 2018 FedEx announces wage increases, bonuses amid tax reform FedEx announced wage increases, employee bonuses and pension funding on Friday, citing the new Republican-backed tax reform plan. The company announced that two-thirds of $200 million in increased compensation will go to hourly employees, while the remainder will be put toward performance-based incentive plans for salaried employees. FedEx also said $1.5 billion will be put toward the company's pension plan and another $1.5 billion would go toward expanding the company's hub in Indianapolis. 2 Link to comment Share on other sites More sharing options...
Geee Posted January 29, 2018 Author Share Posted January 29, 2018 Exxon Mobil to invest $50 billion in US over 5 years, citing tax reform Link to comment Share on other sites More sharing options...
Valin Posted February 1, 2018 Share Posted February 1, 2018 Cigna raises wages, benefits following tax law Kimberly Leonard Feb 1, 2018 Health insurer Cigna announced Thursday it will increase the minimum wage for its employees to $16 an hour and raise contributions to retirement accounts thanks to the passage of the Republican tax law signed by President Trump late last year. The total cost invested in higher wages, mostly for frontline employees, will be $15 million, and $30 million for its additional 1 percent match to the 401(k) program. Cigna credited the freed up funds with the tax law, which reduced the corporate tax rate from 35 percent to 21 percent. More than 30,000 of the company's workers are expected to benefit from the increased contribution to retirement funds. (Snip) __________________________________________________________________________________________________________ Make It Stop Make It Stop!!! Link to comment Share on other sites More sharing options...
Geee Posted February 1, 2018 Author Share Posted February 1, 2018 Hostess gives employees $1,250, free snacks after GOP tax cuts Link to comment Share on other sites More sharing options...
Valin Posted February 1, 2018 Share Posted February 1, 2018 1 hour ago, Geee said: Hostess gives employees $1,250, free snacks after GOP tax cuts 1 Link to comment Share on other sites More sharing options...
Geee Posted February 1, 2018 Author Share Posted February 1, 2018 LIST: Tax reform bonuses, raises, or 401k hikes for 300 companies... Link to comment Share on other sites More sharing options...
Valin Posted February 1, 2018 Share Posted February 1, 2018 Nancy Pelsoi Need I Say More? Link to comment Share on other sites More sharing options...
Geee Posted February 6, 2018 Author Share Posted February 6, 2018 50,000 GM Factory Workers to Get $11,750 Profit-Sharing Checks Link to comment Share on other sites More sharing options...
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