January 11, 2018

WalMart announces bonuses thanks to Trump Tax Cuts

Some Democrats (I'm looking at you Elizabeth Warren) are still hollering that the Trump cuts in the Tax Cuts and Jobs Act of 2017 have to be reversed.  I wonder how WalMart employees are feeling about that after the company announced (like many others) that it's bonusing employees as a result of the tax cuts. Oh, and Walmart is also raising it's minimum wage, so this is not a one-time pacifying thing. 
Walmart's workers will soon reap the benefits of the recent tax law changes, as the world's largest private employer raises its starting wage, creates new benefits and distributes bonuses to eligible workers.

The big-box retailer announced Thursday it will increase its starting wage rate for hourly employees in the U.S. to $11, and expand maternity and parental leave benefits. Currently, Walmart's starting wage is $9 until workers complete a training program. Then, they receive $10.

Walmart will also pay a one-time cash bonus to eligible employees of as much as $1,000. The payouts, which should total roughly $400 million, will result in a one-time charge that the company will take in its fiscal fourth quarter.
Apparently tax law matters and lower taxes can benefit both employers and workers.  In other words it's not a zero sum game. So, are you still expecting a Democrat wave in 2018? Stop looking in the rear view mirror.

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