The GOP Tax Bill is the culmination of a dark, dangerous dream.
I hate that defective junior high school locker that couldn’t keep this fucker in his place–pinups of Ayn Rand and all.
I wouldn’t want to be Paul Ryan if this Tax Scam is put into law.
He had better change his address, and change his face.
There will be “Wanted” posters circulating everywhere with his mug on them.
No place for the Wicked to run.
Well said, as usual by CPPierce.
The already wealthy will get a windfall.
They’ll look, Ryan correctly states, to invest their additional riches.
But they won’t invest in workers, they’ll chase the high returns offered by exotic debt instruments, like credit default swaps.
Then, when they crash the economy again, Paul Ryan will vote to bail them out.
I mean, damn, haven’t we seen this movie before?
Having serially demonstrated their love of the late Joseph McCarthy, Scott Walker, Paul Ryan and their ilk, Wisconsin must have an above average percentage of its population afflicted with Stockholm Syndrome.
Although I never attended what were defined as rough schools, guys like Paul Ryan were frequently beaten up in yards of the schools I attended. They were so widely disliked that all students witnessing what were considered just reward incidents took a Sergeant Schultz approach…seeing “nothing…nothing”.
The “repeal & replace” republicans are running the deficit scam while the “pro-business” democrats are running the 60-vote scam. The American people are screwed.
AT&T announced in a press release Wednesday that once the bill is signed into law, it plans to “invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees.” The bonus will be paid to all union-represented, non-management and front-line managers
Boeing also says that it will earmark $300 million for “employee-related and charitable investment” as a result of the tax cuts to “support our heroes, our homes, and our future”—though the company did not provide any further details.
According to CNBC, Fifth Third Bancorp plans to “raise its minimum hourly wage for all employees to $15, and distribute a one-time bonus of $1,000 for more than 13,500 employees” following passage of the bill.
lol yeah, I’ll believe that when I see it. Most of the extra $$ is ear-marked for stock buybacks, bonuses for executives, and dividends to shareholders, as always. Trickle-down is a myth.
Yep. for sure. Dividends and bonuses absolutely trickle down.
LOL yeah. I’m torn between buying a yacht this year, or a private jet…decisions, decisions, decisions…so much money trickling down my way…and my unemployed family and friends…they can’t decide between a vacation in Bermuda or France…augh! Frustrating!
Just to take one of example, AT&T has over $48B in cash on hand. That’s pre- tax cut
So, while it’s nice that they’ve decided to be, um, “generous,” there was nothing stopping them from doing so before.
And by generous, I mean paltry. Then again, relatively cheap publicity stunts appear to gain traction with certain rubes out there…
“with certain rubes…”
How much debt do they have?
You mean the low-interest rate debt they’re using to buy Time Warner?
Just out of curiosity, Jim, how did you expect them to finance an $85B acquisition?
Did you pay cash for your house?
Record numbers (in both quantity and value) of corporate mergers and acquisitions during the past five years confirm that there is no tax cut needed for the 1% or their corporations.
Most of the money corporations save on taxes WILL be invested…buying politicians since that is where corporations have achieved the highest return on investment (ROI) during the past three decades.
Seeing how corporations already own as many US politicians as they need to keep increasing profits at the expense of the 99%, most future politician purchases will be abroad so the corporations can oppress the 99% in other nations like they have in Murka.
Yes. Lot’s of the extra corporate money will go to buying politicians, however, as a former denizen of the corporate world most of the corporate tax-cut money will go to:
1. Executive bonuses (because, you know, they worked hard to increase those windfall tax-cut earnings)
2. Stock buy-backs (to boost share price for shareholders and executives holding stock options)
Rest assured that little if any will get invested in the businesses themselves.
Thank you, Charlie Pierce, for your writing. Best piece I’ve read all year and maybe for several years.
They have over $150B in debt. Which makes the cash you brought up largely irrelevant.
They switched from big share buybacks to acquisitions: Direct TV and Time Warner.
Still, their debt is less than 3 years revenue.
But if you think debt is a problem for T, you must view their publicity stunt generosity as a fiscally irresponsible move, right?