It's been a little over a month since President Trump signed the pro-growth Tax Cuts and Jobs Act into law, marking the most significant changes to our country's tax code since 1986. Americans didn't have to wait long to see the benefits.
Thanks to the Tax Cuts and Jobs Act, more than 250 U.S. companies (and counting) have recently announced major new investments. More than three million Americans are receiving wage increases, bonuses, or enhanced benefits. Other major employers are planning to invest billions in our economy, building new facilities, creating more jobs, and fueling stronger growth. I've been particularly glad to see companies large and small putting their tax savings toward charitable contributions. Boeing, for example, is allocating $100 million toward charitable giving, $100 million toward infrastructure enhancements, and $100 million toward workforce training.
Here's how tax reform is already paying off for thousands of hardworking Missourians:
Kansas City Southern employees received a $1,000 bonus.
Southwest Airlines gave a $1,000 bonus to its 1,100 Missouri workers.
Walmart, our state's top employer, announced bonuses, wage increases, and expanded benefits that will impact 27,500 Missourians.
Great Southern Bancorp, Inc. gave $1,000 in cash to all full-time employees and $500 to part-time workers.
There's even more good news ahead. As early as this month, Missourians will see how much more of their hard-earned paycheck they'll be taking home iwth the new tax cuts in effect.
By nearly doubling the standard deduction, doubling the child tax credit, and lowering tax rates, Missouri families will be able to keep more of what they earn instead of sending it to the IRS. And, by increasing U.S. competitiveness and giving small businesses the opportunity they need to reinvest and expand, the new tax code creates a foundation for more jobs with higher wages in the future. No wonder the National Federation of Independent Business reported small business optimism was at an all-time high at the end of last year.
I've heard from Missourians all over the state who have been positively affected by our new tax codoe. If you have a story to add, I'd like to hear it. You can share your story here.
I think it may be a little early to judge this, but I do have a question. Since the government spends money to stimulate an ailing economy, was it wise to do this now? The economy was in pretty good shape and has been on positive trends for several years. It seems to be sparking some inflation as well. What will happen if we hit a recession and the need for government spending arises? Do we spend more and drive up the deficit? I know all of Joplin is concerned over the deficit, until Repubs are spending the money.
ReplyDeleteOne-time bonuses from companies that get huge permanent tax cuts - and those bonuses collectively amount to less than .1% of what corporations will have gained in one year of tax cuts alone. In many cases they amount to obvious efforts to pander on the part of companies that want government favors (AT&T) or that want to mask the fact that they are cutting jobs. Some are even arguing that the recent stock market decline is at least partly the result of the "over-heating" effect of a tax cut that isn't necessary to provide stimulus to an already strong economy.
ReplyDeleteAnd for this we're expanding our debt massively and putting essential programs like social Security and Medicare at risk. At Davos, the president of the IMS even argued that the corporate tax cut and the resulting problem of rising American debt would, within a few years, but the world economy at risk. Since few Americans care about anything but MAGA, however, perhaps they should think about how a few patry bonuses measure up to drowing their grandchildren in debt. Remember all the folks who whined about how the stimulus - employed to pull the economy away from the brink of collapse - was immoral because it ran up a little debt?
Blunt, you are a real genius. Thanks to your over the top tax cuts to large corporations, they will gladly hand out a 1 time bonus to make themselves look good while they bankroll millions from the taxes they won't pay. But your bonus recipients may want to hold onto those bonuses to pay the taxes you will be adding to gasoline, groceries and anything else you can tax later on to make up for the loss in revenue. Keep the little guy paying for your ignorant mistakes. Trickle down at it's finest. How much are you and your "party and greed before country" lobbyist family making from your bribes Mr. Scumbag?
ReplyDelete956 and 1106, From here on out, we will refer to these people as the "Trump Thousandaires." If they want to see real bonuses, check out the GM profit sharing checks this week- $11,000.00. Those darn unions!
ReplyDeleteThanks Senator Blunt for helping President Trump make America Great Again.
ReplyDeleteThe overseas capital is coming back to USA—just look at Apple
Harvey Hutchinson 303-522-6622 voice&text
You betcha there Harv! Make 'Murica White Again and keep them rich folk happy! You can be bought off with some slight of hand and it shows your simple mindedness. Wait for your gas tax, sales tax and anything else they can tax to go up now that the top 2% and corporations are saving billions in taxes. You fools just don't seem to understand that money for the military, infrastructure, veteran healthcare etc. has to come from somewhere. Now the republican thieves are going to work on how they can steal our money from Social Security and Medicare. The scum want to privatize it so their rich banking buddies can "invest" our money while putting the interest in their pockets. In the meantime, your party before country fools are driving the deficit even higher but now it is OK because it is the Republican party doing the spending. You hypocrites are vile scum.
ReplyDeleteNot according to State Auditor Nicole Galloway, but what would she know? Cue the posts and see who can call her a Lib the most in one sentence.
ReplyDeleteAnonymous 8:56,
ReplyDeleteYou sound like those $1,000 bonuses that Walmart, Kansas City Southern, and many others gave in your mind would be crumbs—-you know like the dirtbag Pelosi(/Marie Antoinette) said they were
Harvey Hutchinson 303-522-6622 voice and text
Aw Harvey, You know crumbs like your dirtbag president (der Trumpenfuhrer or is it der Gropenfuhrer) is keeping with the "make the rich richer again" party before country manifesto. His Russian buddies are smiling from ear to ear. Then, the little uneducated people that don't understand actual politics and can only vote for the "R" will be slowly taken out by their own ignorance of the actual facts. You just can seem to get it that this little bonus is a tiny percentage of what these corporations are going to save. But then, you don't like facts. Keep playing in your alternate facts universe. So far, you are playing their lying hypocritical playbook to the letter.
ReplyDeleteAnonymous 7:28
ReplyDeleteSpeaking of Russian buddies; turns out Hillary, Bill, and Obama were doing the colluding. Billions for the Clinton Foundation from the Uranium One deal( should never have happened), and fraudulent dossiers prepared with help of Russians and Christopher Steele to get an illegal FISA warrant with the excuse of spying on Carter Page( actually an excuse to break into Trump Towers( Watergate deja Vu again), and soy in Trump. Now we learn from crooks at top of FBI and DOJ and Susan Rice, that the information was delivered to Obama and Then Hillary campaign. She had paid millions for the phony dossier
Harvey Hutchinson 303-522-6622 voice&text
Show your proof Harvey! All you have to go on is your religious belief in Faux (FOX) News and their "alternative facts" that have been debunked time and time again. Go back to your National Enquirer bible and keep reading your flat earth conspiracies. Your buddy der Trumpenfuhrer is going full Nixon and will be impeached for treason. Talk about paying millions, your poor excuse of a president has been paid millions by the Russians. Oh, by the way, your tin foil hat fell off.
ReplyDeleteAnonymous 12:32
ReplyDeleteThe Obama administration was erriely like the Nixon; using the IRS to harass political opponents, abusing and lying to the FISA courts in order to break into Trump courts. With all of this corruption in the White House and Crooked Hillary, we can only thank Gid Almighty that Trump was elected and the Republic saved.
Harvey Hutchinson 303-522-6622