Company after company is giving bonuses and wage increases to their employees and they are crediting the Trump tax cuts. Home Depot and Walmart just gave bonuses, Walmart also gave wage increases, but what’s a $1,000?
Crumbs?
Disney is giving 125,000 of its employees crumbs of $1,000 in cash bonuses. Among them are 88,000 hourly employees. The company will also make a $50 million investment into a new employee education program.
Disney says both initiatives are due to recent tax reform. Some of the biggest companies in the United States have been giving out bonuses to employees, often citing the recently-passed tax bill as the motive. Boeing, AT&T, Wells Fargo, Comcast, and Bank of America are just a few of those distributing new tax benefits to workers.
The bonus applies to any full-time and part-time employees who have been working for Disney since before January 1. Those eligible will receive the bonus in two parts, with one in March and the other in September. Executive level employees are exempt.
Starbucks (SBUX) will increase wages and enact other perks for more than 150,000 U.S. employees as a direct result of recent tax reform. The Seattle-based coffee chain said it will give all of its U.S.-based hourly and salaried workers an unspecified raise in April, in addition to a wage increase already dispersed earlier in the Starbucks’ fiscal year, which began last October. Starbucks says it is investing roughly $120 million in the wage increases.
Their stocks have been going up and we can thank President Trump, the businessman, for that too.
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Starbucks is also awarding workers stock grants worth a total of more than $100 million to those employed by the chain as of Jan. 1, 2018. Retail employees will receive at least a $500 grant, while store managers will receive grants of $2,000, the chain said.
Companies in trouble like Campbells will invest in their business so they can keep on growing and hiring people.e
The tax bill lowered the rate from 35% to 21% and it changed the way we tax international companies based in the U.S.
His tax reform is enticing foreign companies to the U.S.
At the same time, the President is cancelling unnecessary regulations and opening up the energy revolution in the United States. He is also concentrating on stabilizing the Middle East, thanks to Secretary Mattis, by focusing on the energy market they have that could disembowel Iranian Mullahs at some point.
The party of tax and spend only wants to bleed us dry. Remember when Americans understood that?
