View Single Post
  #1  
Old 01-11-2018, 09:12 AM
whell's Avatar
whell whell is offline
Senior Member
 
Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
Skewering of Leftist Economic "Conventional Wisdom"

"Conventional Wisdom" - tax cuts for business are bad, since the business will not pass along the benefit of those cuts to workers, and there will be no economic benefit for anyone except business owners or share holders.

Reality:

https://www.bloomberg.com/news/artic...f-tax-overhaul

Wal-Mart Stores Inc. is boosting its starting hourly wage to $11 and delivering bonuses to employees, capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market.

“Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.,” Chief Executive Officer Doug McMillon said in the statement.


Wal-Mart’s decision makes it the latest corporate titan to plow expected tax savings into employee payouts. Boeing Co., AT&T Inc. and Wells Fargo & Co. have all made similar announcements in recent weeks. Wal-Mart said it’s “early in the process of assessing potential additional investments” it could make.
Reply With Quote