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Old 01-11-2018, 09:32 AM  
Just Passin' By Just Passin' By is offline
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Bloomberg: Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul

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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.

The increase takes effect next month and will cost $300 million on top of annual wage hikes that were already planned, the world’s largest retailer said Thursday. The one-time bonus of up to $1,000 is based on seniority and will amount to an additional $400 million. The company is also expanding its maternity and parental leave policy and adding an adoption benefit...
https://www.bloomberg.com/news/artic...f-tax-overhaul


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Old 01-11-2018, 11:00 AM   #31
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Originally Posted by Loneiguana View Post
You could live on less than 20,000 a year when taking into affect taxes?
I sure could. Of course, I wouldn't want to which is why I wouldn't look to Wal Mart for permanent employment. You can rent a decent pad here where I live for 300 ish/month. Do you think you could make it happen on $11/hour?
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Old 01-11-2018, 11:01 AM   #32
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Originally Posted by Iowanian View Post
^^Proof that you don't understand how business works.

A business has a good year and they pay more bonus and dividends. If you get either of those you should be happy. It does NOT guarantee that the next fiscal year will be as lucrative so it's pretty difficult to promise the same results. Doesn't work that way in the real world.
Oh I understand very well; but the notion put forth by the GOP and Trump was that the cuts would increase WAGES...this is not evidence of that.
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Old 01-11-2018, 11:01 AM   #33
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Originally Posted by Over Yonder View Post
I sure could. Of course, I wouldn't want to which is why I wouldn't look to Wal Mart for permanent employment. You can rent a decent pad here where I live for 300 ish/month. Do you think you could make it happen on $11/hour?
$300 a month? Good god. Either you live in BFE or our definition of "decent" is different.
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Old 01-11-2018, 11:02 AM   #34
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Originally Posted by Fire Me Boy! View Post
Wouldn't a permanent tax cut extend into future fiscal years?
A permanent tax cut would definitely be of consideration for me in business. It definitely would be a consideration for long term expenditures and investments.

The part you can't control right now is interest rates, revenues, costs of goods and distribution etc...

This is proof to me that you just can't make people happy. A corporation, that has no obligation legally to do this, increases benefits and their low end wage threshold and before the ink is dry, people are wanting more.

it's like caving and letting my kids have half a soda on a pizza night and they're complaining about wanting their own bottle before the seal is even cracked.
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Old 01-11-2018, 11:03 AM   #35
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Originally Posted by Mr. Kotter View Post
Walmart's been the ONLY large one, that I've heard of...good for them.
Walmart is increasing their starting wage. If you read the information it says pay increases are in place for 2017. It would be very expensive to change wages at this point with a large company. They also have bargaining employees in some stores and our under contract. Bonuses are not part of those contracts. A bonus is the easiest way for large companies to distribute the money for a tax plan that was passes a few days before the start of they year. Next years wages will reflect the economics of the business with the current tax plan and this will be on the table when the union contracts are up.

As far as other companies doing this:

Most large banks Wells Fargo, 5th 3rd, US Bank have increased minimum wage paid to $15.00. Then many others have followed as well:

https://bankingjournal.aba.com/2018/...er-tax-reform/
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Old 01-11-2018, 11:05 AM   #36
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Originally Posted by Iowanian View Post
A permanent tax cut would definitely be of consideration for me in business. It definitely would be a consideration for long term expenditures and investments.

The part you can't control right now is interest rates, revenues, costs of goods and distribution etc...

This is proof to me that you just can't make people happy. A corporation, that has no obligation legally to do this, increases benefits and their low end wage threshold and before the ink is dry, people are wanting more.

it's like caving and letting my kids have half a soda on a pizza night and they're complaining about wanting their own bottle before the seal is even cracked.
I'm not complaining here, but I definitely get where Kotter is coming from. The bonuses look good for the companies giving them, but they are a temporary bonus for the employee that won't be felt (for the employee) a year from now.
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Old 01-11-2018, 11:06 AM   #37
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Originally Posted by Mr. Kotter View Post
Oh I understand very well; but the notion put forth by the GOP and Trump was that the cuts would increase WAGES...this is not evidence of that.
It seems to me the text is pretty clear that they ARE increasing the wages AND the benefits AND providing a bonus.

Maybe this doesn't compute for you, but if you have an extra $1000(more like $600 after taxes on bonus) you DO have more wage/income than you have without it. When you get an extra $1200 back at tax refund time, you DO have more wages-income-money than you have without it.

You should thank Trump for that, but you won't. If you can't see evidence of companies increasing their wages already there are two factors in play. 1. your vision is clouded by your rectum 2. It's only been a month and all companies haven't had time to review and implement their strategies.
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Old 01-11-2018, 11:07 AM   #38
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Originally Posted by Mr. Kotter View Post
So what specific government cuts would you advise, ones that realistically could be passed by Congress...in order to make the tax cuts revenue neutral. The key being, realistically.

If not, then do you support tax cuts that increase the deficit and debt? That doesn't strike me as "fiscally" responsible or conservative....
See, that's the rub. There are pretty much zero that could be realistically be agreed upon and cut. Both sides have their pets. What I do know is that the money is EARNED by us Americans not the gov't, thus our money. So, to speak as if tax cuts are stealing money from Americans is a joke. It's allowing Americans to KEEP their hard earned money.

In my perfect world of Unicorns and Rainbows, I'd slash every single gov't department including congressional monies by 25%. Revenues are at all-time highs and so is spending. The problem is NOT that we don't surrender enough of our hard earned money, it's that those bastards continue to spend too much.
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Old 01-11-2018, 11:08 AM   #39
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Originally Posted by Fire Me Boy! View Post
$300 a month? Good god. Either you live in BFE or our definition of "decent" is different.
It's true. Here's the catch... It's as nice of a place as you can rent near a large city for $1000.

Why? The acquisition cost of the building and low taxes allows nice rentals to cash flow easily at $300.

I work in an industry that pays me fairly well. I have had many opportunities to move to the east coast and double my income, but it would only make my life more hectic and my standard of living would actually decrease.
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Old 01-11-2018, 11:09 AM   #40
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Originally Posted by Iowanian View Post
A permanent tax cut would definitely be of consideration for me in business. It definitely would be a consideration for long term expenditures and investments.

The part you can't control right now is interest rates, revenues, costs of goods and distribution etc...

This is proof to me that you just can't make people happy. A corporation, that has no obligation legally to do this, increases benefits and their low end wage threshold and before the ink is dry, people are wanting more.

it's like caving and letting my kids have half a soda on a pizza night and they're complaining about wanting their own bottle before the seal is even cracked.
You definitely are a parent because that shit is the truth.
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Old 01-11-2018, 11:10 AM   #41
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Originally Posted by Iowanian View Post
It seems to me the text is pretty clear that they ARE increasing the wages AND the benefits AND providing a bonus.

Maybe this doesn't compute for you, but if you have an extra $1000(more like $600 after taxes on bonus) you DO have more wage/income than you have without it. When you get an extra $1200 back at tax refund time, you DO have more wages-income-money than you have without it.

You should thank Trump for that, but you won't. If you can't see evidence of companies increasing their wages already there are two factors in play. 1. your vision is clouded by your rectum 2. It's only been a month and all companies haven't had time to review and implement their strategies.
Personally, heck yeah I'm grateful. In the long run though, it just increase the national debt that our children and grandchildren will be saddled with...of course many folks don't give a shit about that though. I do.

Eh, my medical exam is calling....I'll check back later.
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Old 01-11-2018, 11:11 AM   #42
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Originally Posted by Fire Me Boy! View Post
$300 a month? Good god. Either you live in BFE or our definition of "decent" is different.
I do live in BFE, that's why I said a lot of rural areas that $11/hr would be good money. Although not a true comparison because it's a payment and not rent, I live in a 5 bed 3 bath modular sitting on a full basement and 5 acres, and my payment is 450/month. I can assure you it's a nice place also, it was new in 2006.

I can get you a roach motel here in the neighborhood of $150ish. My definition of decent is small, but overall clean. It's the good part of living in BFE
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Old 01-11-2018, 11:17 AM   #43
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Originally Posted by Mr. Kotter View Post
So what specific government cuts would you advise, ones that realistically could be passed by Congress...in order to make the tax cuts revenue neutral. The key being, realistically.

If not, then do you support tax cuts that increase the deficit and debt? That doesn't strike me as "fiscally" responsible or conservative....

This is where we will always disagree and we will have to wait a few years to see who is right. If the economy consistently grows at 2.3% this bill is revenue neutral, for each additional .4 percent it creates $1.4 trillion in additional revenue. The Republicans believe this will increase revenues and along "reduction in growth"(Dems call these cuts) will be necessary to solver our deficit problem. You can't tax your way out of this problem.

The Republicans weren't willing to accept that 2% growth was the new normal. Forecast now show we may have the first year of 3% growth in over a decade. This should be good news to everybody.
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Old 01-11-2018, 11:18 AM   #44
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Originally Posted by Over Yonder View Post
I sure could. Of course, I wouldn't want to which is why I wouldn't look to Wal Mart for permanent employment. You can rent a decent pad here where I live for 300 ish/month. Do you think you could make it happen on $11/hour?
I lived on an average of 11.50 (factor in tips) for years going through college.

I made it happen because I lived with my now current wife who also made over 10 an hour going through college.

And I wouldn't wish that type of living on anyone.
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Old 01-11-2018, 11:19 AM   #45
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Walmart is increasing their starting wage. If you read the information it says pay increases are in place for 2017.
I'll just point out, again, that Wal Mart did this in 2015 and 2016.

Thanks Obama.
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