Economic Collapse

[diannedawn]

If only this was true....”but managed to not convince a single American that he's articulate, bright or a good leader.”
Sadly, I am quite sure that there is a group of people that viewed that display of stupidity and applauded.
There are some that absolutely will not ever see what a “moron” that man is.
Worse yet, are those that DO see, but ignore it.

I thought it was pretty interesting yesterday when Walmart announced its bonuses etc, while also laying off other workers and closing Sam’s Club stores....
Which people were out there touting how this was proof of how the wonderful tax cut was trickling down to Joe Blow?
TRUMP was...of course...lol...

Great news, as a result of our TAX CUTS & JOBS ACT! pic.twitter.com/SLvhLxP3Jl

— Donald J. Trump (@realDonaldTrump) January 11, 2018

Ya...sure...

I would agree with this...”Walmart’s behavior is part of a pattern of corporate misdirection related to the GOP tax cuts. AT&T and Comcast both announced bonuses for their employees while also laying off thousands.”
https://thinkprogress.org/walmart-bonus-layoffs-ed187882b011/

I also think that this is a show...these companies are giving a pitence to workers, knowing it will make them LOOK good, and that most people will never think about how much MORE they really gained.
(I do not really agree with this math, because there was more than just the bonsus....there was the starting wage increase and maternity leave etc., but I am sure that the amount of $ that Walmart is trickling down to their workers is very small compared to the amount of $ they are gaining.)
“The one-time bonus Walmart announced this morning amounts to just over 2 percent of the total value of the tax cut to the company.

In fiscal year 2017, Walmart had pre-tax profits of about $20.5 billion and paid an effective federal tax rate of around 30 percent. With a new corporate tax rate of 21 percent, the corporate tax cut is worth at least $1.85 billion to Walmart every year. Since this cut is permanent, the true benefits to Walmart will grow much larger over time. But it’s safe to say that, over 10 years, this corporate tax cut will be worth over $18 billion to Walmart.”

Along the same theme...”House Speaker Paul Ryan (R-Wis.) praised Walmart's gesture to raise its employees' wages on Thursday, calling the tax bill a major help to middle-income families.

"Today marks 20 days since the Tax Cut and Jobs Act became the law of the land," Ryan said. "Already, this new law is helping to improve the lives of middle-income families across the country. You saw the announcement from Walmart just this morning: more than a million Americans are due to receive their bonuses because of tax reform."

He comments were made before the announced layoffs and store closings.

Ryan's counterpart, House Minority Leader Nancy Pelosi (D-Calif.), cast doubt on the benefits of the post-tax-reform bonuses, calling them "insignificant" compared to the benefits that corporate executives will gain under the revised tax system.

“In terms of the bonus that corporate America received, versus the crumbs that they are giving to workers to kind-of put the schmooze on, [it] is so pathetic,” Pelosi told reporters Thursday.”
http://thehill.com/blogs/blog-briefing-room/368533-walmart-to-lay-off-thousands-of-employees

What should be really funny is when Ryan starts pushing his cuts to Social Security and Medicare in an attempt to PAY for these tax cuts....
Whatever happened to all those “fiscal conservatives” who lambasted Obama for the deficit?
Young Guns?

SMH