Corporations all across the nation are revealing plans to provide workers with raises, bonuses, and other quality-of-life improvements in direct response to Trump’s tax plan. The unprecedented reform bill slashed corporate taxes by an incredible 14 percent – and it appears to be working across the board.
Unfortunately, not everyone is quite as excited about the rolling bonuses; some Democrats have shared a belief that the announcements are little more than an attempt to “curry favor” with Trump. This includes MSNBC’s Joy Reid, who accused corporate America of “trying to convince you that their naked greed is charity.”
Key Facts on Bonuses and Pay Increases
• For its part, media giant AT&T will disperse $1,000 bonuses to each of its 20,000 workers across the globe. The $20,000,000 disbursement represents a significant fraction of the company’s total revenue last year, which amounted to $163,786,000.
• TV broadcaster Sinclair rolled out $1,000 bonuses to each of its 9,000 employees. Joy Reid, who spoke out about the bonuses being a ploy for attention, will receive $1,000 herself.
• Neither Wells Fargo nor Fifth Third Bank will hand out bonuses, but they are raising wages to a minimum of $15 an hour. Both also announced significant charity work targeting low-income Americans and non-profit organizations.
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How do you think the rest of corporate America will respond to the tax changes when it comes to employee benefits and pay?