Wednesday, December 27, 2017

In the days after Republicans passed their tax cut legislation, House Minority Leader Nancy Pelosi warned that passage of the bill would be “Armageddon.”


Ladies and gentlemen, witness the horror of our Armageddon:
In the hours after Congress approved the GOP tax cut plan, a handful of companies jumped to announce plans to share some of the proceeds on their employees and spend on infrastructure. Boeing was first out of the gate, followed by AT&T, which said it would give more than 200,000 unionized employees a special bonus of $1,000 once the tax bill is signed. The company also said it would increase its capital expenditures by $1 billion.

Both Fifth Third Bancorp and Wells Fargo followed, saying they would raise their minimum wage to $15 an hour. Fifth Third said it would also give workers a bonus, and Wells Fargo said it would give $400 million to community and nonprofit organizations next year....


...In Texas: New Braunfels-based Rush Enterprises is planning to give each of its employees a $1,000 bonus after President Donald Trump signs the tax reform bill into law. The commercial truck dealer said all of its approximately 6,600 U.S. employees will receive the one-time payout — which will cost about $6.6 million....

In Wisconsin: Associated Bank said Thursday it will boost its minimum hourly wage to $15 and pay workers a $500 bonus when the recently passed federal tax reform is signed, making it the first major Wisconsin firm to announce it is joining the list of companies saying their employees will directly benefit from the legislation. The Green Bay-based bank, the largest financial institution headquartered in the state, said it will raise its minimum wage to $15 an hour from $10 — a 50% boost — and distribute the one-time bonus to all hourly, non-commissioned employees once the tax legislation is signed into law....

In Idaho: Idaho health care and home products company Melaleuca Inc. announced Thursday that it will be the latest major business to give its workers bonuses in response to President Donald Trump’s tax cuts....


And indeed, reports of anguish and financial ruin have arrived and been collected here and here. The Christmas holiday brought no respite, as even more companies announced how they would be punishing their workers with bonuses and raises to maximize the pain and suffering caused by the apocalypse-inducing legislation....

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