First Ramifications of Tax Bill Hits Home

Examples of the wealth being transferred from the wealthy to the middle class.
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Yes, and when government involvement is lessened.

 

Looks like more money being transferred from wealthy corporations to the poor and middle class. MAGA.

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More wealth transfer from rich to lower classes.
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NEW YORK (Reuters) - Walmart Stores Inc said on Thursday it would raise entry-level wages for hourly employees to $11 an hour as it benefits from the biggest overhaul of the U.S. tax code in 30 years.

The world’s largest retailer said the increase would take effect in February and that it would also expand maternity and parental leave benefits and offer a one-time cash bonus of up to $1,000. The increase will benefit more than 1 million U.S. hourly workers.

The company raised its minimum wage to $9 an hour in 2015. In 2016, it said employees who finished an internal training program would be eligible for $10 an hour.



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LOUISVILLE, Ky. (WDRB) -- Some Humana workers will soon get a pay bump thanks to the GOP tax reform plan.

The Louisville-based company announced Tuesday that because of the lower corporate income tax rate, it's investing in its employees. It's raising the minimum hourly rate for full- and part-time associates to $15 an hour. The company is also accelerating a previously announced incentive program for employees.



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Apple announces plans to repatriate billions in overseas cash, says it will contribute $350 billion to the US economy over the next 5 years

Apple says the new tax law will help it will contribute $350 billion to the U.S. economy over the next five years.

It says it will create 20,000 new jobs and open a new campus.

Apple expects to pay about $38 billion in taxes for the horde of cash it plans to bring back to the United States.



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Bank of New York Mellon Corp. (BK) executives said nearly all of this year's benefits from the new U.S. tax law will go to technology upgrades and its employees instead of shareholders.

That includes a raise in the minimum wage to $15 an hour starting March 1 largely for those who work in the firm's operations unit. The higher hourly wage will affect about 1,000 of the bank's 52,500 employees, according to finance chief Mike Santomassimo.


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NEW YORK (AP) -- The Walt Disney Co. will give more than 125,000 eligible employees a one-time $1,000 cash bonus and invest $50 million in an education funding program.

The media company said Tuesday the bonuses will go to all full and part-time non-executive employees, either hourly or salaried, who have been with the company since January 1, 2018, and are based in the U.S.



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Starbucks gives workers raises, stock grants due to tax law

NEW YORK (AP) — Starbucks is giving its U.S. workers pay raises and stock grants this year, citing recent changes to the tax law.

All employees will soon be able to earn paid sick time off, and the company’s parental leave benefits will include all non-birth parents. Starbucks Corp. said Wednesday that the changes affect about 150,000 full-time, part-time, hourly and salaried employees, most of whom work as baristas or shop managers. The new benefits apply to workers at more than 8,200 company-owned stores but not at the 5,700 licensed shops like those found inside supermarkets.



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Home Depot is awarding its hourly employees in the U.S. a one-time cash bonus of as much as $1,000 following the passage of new tax legislation.

The bonus amounts will be determined based on a person's length of service, similar to Walmart's strategy. All of Home Depot's U.S. hourly workers will get at least a $200 bonus, a spokeswoman told CNBC, and the maximum payout is $1,000 for workers who've served at least 20 years.



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FedEx to Give Wage Increases, Bonuses to Workers

FedEx says it will give wage increases, bonuses and make a voluntary $1.5B contribution to its pension plan following recent tax reform legislation.

FedEx Corp. said Friday that it'll raise compensation by more than $200 million, with about two-thirds going to hourly workers by pushing up this year's annual pay increases to April 1st from the normal October date. The rest of the money will fund increases in performance-based incentive plans for salaried personnel.

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Miami-based Ryder System, Inc. will give special tax reform employee bonuses totaling $23 million, the company said in a filing late Monday. Ryder, with locations pretty much everywhere in the USA will pay the bonuses in February to all non-incentive bonus eligible employees.

An excerpt from the Ryder filing reads as follows:

In connection with the anticipated benefit of the Tax Act, the Company awarded a
one-time cash bonus, estimated to be approximately $23 million or $0.27 per
diluted share, to all non-incentive bonus eligible employees of the Company employed on December 31, 2017. The bonus will be paid to eligible employees in February 2018. – Jan. 29, 2018 Ryder System, Inc. filing



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