AT&T, Comcast Say GOP Tax Bill Will Mean $1,000 Bonuses for Employees

Megalith

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AT&T is planning to invest an additional $1 billion into its US networks in 2018 and give hundreds of thousands of employees a one-time bonus after the passage of the new tax bill. Comcast is doing something similar: the company will be giving out $1,000 bonuses to “eligible frontline and non-executive employees.”

A wave of new broadband spending next year could increase the industry's overall investment numbers, giving ammunition to industry and FCC officials who predicted that the deregulation would accelerate upgrades to the nation's Internet infrastructure. The bonuses also come as a number of Internet providers, including Comcast and DirecTV, the television provider owned by AT&T, announced price hikes for their broadband and cable TV packages that are expected to start next year.
 

Skirge01

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Democrat/Liberal spin (actually read an article which implied this): But, the executives and shareholders are getting many times the windfall, so this is bad.

Somehow, I doubt the employees getting these checks are seeing it that way.
 

bman212121

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They aren't going to see that they only get a $1,000 check once, while the same time next year the company can pocket that extra $200 mil they will have freed up.


EDIT: That sentence was a train wreck, so I'm going to try again.

The employees who receive a $1,000 check will be happy they are getting money. They will not stop to realize that all of the money that was distributed this year ($200 million in the case of AT&T) will still be saved every year after. So AT&T can give it away this year without even thinking about it because they can pocket all of that money in the future.
 
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Biznatch

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Democrat/Liberal spin (actually read an article which implied this): But, the executives and shareholders are getting many times the windfall, so this is bad.

Somehow, I doubt the employees getting these checks are seeing it that way.


Exactly, they should be happy with the crumbs, and completely ignore that the tax 'cuts' are a money grab for the rich (86% goes to the top 1%). While increasing out already record breaking deficit another 1.5T..... Who the fuck do people think is going to end up paying for that? I'll give you a hint, it won't be the top 1%..... But all these short sighted morons are jumping for joy over the crumbs, which will be taken away in the next decade. Lets also not forget the savings will be more than offset by the increase in health insurance, especially with the mandate removed. You thought prices were rising before? HA!
 

Zion Halcyon

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Lol. Already libs are moving the goalposts. "Crumbs" They say.

Tell that to the single mother who will be able to provide better care for her child and will get a 73% reduction in taxes.
Tell that to the family drowning in debt from medical bills thanks to the ACA.

I have figured liberals out: the only way they can stay in power is to convince people that good is bad, bad is good, and to never, EVER be happy because it goes against the perpetual outrage they need to stay in power. Its a mental illness, I'm convinced of it.
 

otherweeb

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Bread & Circuses

A one time $1000 bonus looks great in a headline until you think about the BILLIONS these corporations are gonna save in taxes.
 

sirmonkey1985

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hmmm get a tax break yet increase costs to the customer then spin it off as being generous to their employee's even though the vast majority of them are contract workers and aren't eligible for the bonus..

wonder when the announcements will happen that the ceo's of these companies get a pay increase.. lol..
 

Taldren

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Exactly, they should be happy with the crumbs, and completely ignore that the tax 'cuts' are a money grab for the rich (86% goes to the top 1%). While increasing out already record breaking deficit another 1.5T..... Who the fuck do people think is going to end up paying for that? I'll give you a hint, it won't be the top 1%..... But all these short sighted morons are jumping for joy over the crumbs, which will be taken away in the next decade. Lets also not forget the savings will be more than offset by the increase in health insurance, especially with the mandate removed. You thought prices were rising before? HA!
Ah, the 'people' that believe that being better off is not being better off because someone else is more better off. To go through life not knowing how percentages work, smh ... and you call those that do "morons".

LOL that isn't even going to cover the increased cost of insurance next year alone.
You can thank Obamacare for that one. Ever since that law went into effect half my families doctors retired or left general medicine and my rates have nearly tripled.
 

kirbyrj

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Bread & Circuses

A one time $1000 bonus looks great in a headline until you think about the BILLIONS these corporations are gonna save in taxes.

What's the problem with corporations saving billions in taxes? It's now a closer tax market to what these same corporations get in other parts of the world instead of being absurdly high only here in the U.S. What's wrong with encouraging repatriation of foreign money? I'd rather it in the U.S. economy than the European economy. Plus, you are free to invest in these companies and share in their profits.
 

ochadd

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I used to work for a credit card collections company and bring in $10k-$15k every week in fees. Late fee, over the credit limit, yearly fees. Employees were excited to win coozies, gloves, extra jean day, etc for collection competitions. I made $9.50 an hour and he made $235 after overhead off me. I still would have been over the moon excited for $1000 bonus while knowing I made that for the company before lunch time. A rat has to be happy there are scraps to eat.
 

otherweeb

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What's the problem with corporations saving billions in taxes? It's now a closer tax market to what these same corporations get in other parts of the world instead of being absurdly high only here in the U.S. What's wrong with encouraging repatriation of foreign money? I'd rather it in the U.S. economy than the European economy. Plus, you are free to invest in these companies and share in their profits.

No problem!
That's how Capitalism works.

I'm just saying AT&T and Comcast had their PR pumps primed for this. Big headline, Positive exposure. They come out first as helpers of the little guy.
Completely distracts from the existing sentiment that Comcast is out to screw you.
 

darckhart

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"The bonuses also come as a number of Internet providers, including Comcast and DirecTV, the television provider owned by AT&T, announced price hikes for their broadband and cable TV packages that are expected to start next year."
Let's sum this up: Corporate tax rate slashed permanently. Execs still expected to pocket millions in yearly bonuses. Price hikes for customers starting in 2018. One time $1k bonus for some employees.
Let's see who really makes out here....
 

cyclone3d

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I'll believe that they are going to spend money upgrading stuff AFTER they actually do it. They've already pocketed a massive amount of tax money they were given to do the same exact thing years ago.
 

HAF72

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Fuck Obama and his "healthcare as income" stunt. Now I have to pay taxes on an extra $10-12k because he decided it was fucking income.

This tax bill will also remove the mandatory insurance requirement too :)

To all the other people, Companies like wellsfargo and Fifth Third Bancorp will also be increasing their minimum wage to $15/hr so it is just not a one time bonus too.

https://www.cnbc.com/2017/12/20/this-is-just-the-start-of-companies-increasing-spending.html
 

britjh22

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Lol. Already libs are moving the goalposts. "Crumbs" They say.

Tell that to the single mother who will be able to provide better care for her child and will get a 73% reduction in taxes.
Tell that to the family drowning in debt from medical bills thanks to the ACA.

I have figured liberals out: the only way they can stay in power is to convince people that good is bad, bad is good, and to never, EVER be happy because it goes against the perpetual outrage they need to stay in power. Its a mental illness, I'm convinced of it.

Oh, you mean the single mother that would have previously been able to use CHIP before this current administration/congress let is lapse?
You think people will be better off with medical bills now that ACA has been gutted by removing the mandate, cutting funding to get people enrolled, and making enrollment a shorter window?

If you think the current administration/congress is working for the general publics good, I really don't know what to tell you. They are just removing anything the last administration did regardless of it's merit (like the fact that airlines were made to disclose bag fees, better get rid of that!), and pillaging this country for all it's worth.
 

sadsteve

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No problem!
That's how Capitalism works.

I'm just saying AT&T and Comcast had their PR pumps primed for this. Big headline, Positive exposure. They come out first as helpers of the little guy.
Completely distracts from the existing sentiment that Comcast is out to screw you.

Not all positive. What about the price increases for broadband next year, that doesn't sound very positive to me.
 

Endgame

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Bonus implies one time. I'd be impressed if they said raise.

Additionally, the highlight of that story shouldn't be the bonus, but the price hike.
 

bugleyman

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I have figured liberals out: the only way they can stay in power is to convince people that good is bad, bad is good, and to never, EVER be happy because it goes against the perpetual outrage they need to stay in power. Its a mental illness, I'm convinced of it.

That seems totally reasonable. :ROFLMAO:

Seriously, though, this is exactly the mindset that is ripping this country apart.
 
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HAF72

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Not all positive. What about the price increases for broadband next year, that doesn't sound very positive to me.

Its not like the first time they have increased prices. It's not only the US broadbands that are increasing the prices next year too. Many UK broadbands are raising the prices for next year too.

http://www.telegraph.co.uk/bills-and-utilities/broadband/bt-will-charge-customers-36-year-january/

Bonus implies one time. I'd be impressed if they said raise.

Additionally, the highlight of that story shouldn't be the bonus, but the price hike.

My post several posts up states that companies like Wellsfargo and others are increasing their minimum wage to $15/hr due to the tax bill...

https://www.cnbc.com/2017/12/20/this-is-just-the-start-of-companies-increasing-spending.html
 

Chimpee

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Lol. Already libs are moving the goalposts. "Crumbs" They say.

Tell that to the single mother who will be able to provide better care for her child and will get a 73% reduction in taxes.
Tell that to the family drowning in debt from medical bills thanks to the ACA.

I have figured liberals out: the only way they can stay in power is to convince people that good is bad, bad is good, and to never, EVER be happy because it goes against the perpetual outrage they need to stay in power. Its a mental illness, I'm convinced of it.

If you really think that way, I suggest you look at the conservative arguments too. The plain fact is, both sides play that card in order to stay in power. The current system of a two party politics is just bad for all Americans. Left vs right, liberal vs conversatives, pick a side and don't even try to work with the other side is the MO for both parties now.
 

nutzo

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You can thank Obamacare for that one. Ever since that law went into effect half my families doctors retired or left general medicine and my rates have nearly tripled.

But the cost where going up before (as the left likes to argue)

My costs have gone up way faster since Obamacare, and my coverage has gotten much much worse.
I had to switch to the HMO a couple years ago, as the max out of pocket on the PPO (family) passed 10K.

Next year the HMO was going to increase by over 25%, so to keep the price the same, we now have an HMO with a $6,000 max out of pocket.
Cost of a few days in the hospital would now be $6,000 instead of the previous $125.

Before Obama care, I paid 1/3 less for a PPO with a $3,500 max out of pocket.

Only people happy with Obamacare are the people who are heavily subsidized by the taxpayers, or the people bilking the insurance companies by running the fake rehab centers out here in California.
 

Dekoth-E-

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$1000 bonus...Taxed like normal bonuses so the actual take home will be more like $640. As a result of overall company performance yearly raises will be frozen and the new taxes will reduce that $640 down to around $400 and assuming the average front line making 35k a year the lost yearly 3-4% raise being a lost raise of about $1400 most employees can expect to take home exactly $1000 less next year. Bonus Tax Math is Fun!...until you realize you got dicked over.
 

bugleyman

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If you really think that way, I suggest you look at the conservative arguments too. The plain fact is, both sides play that card in order to stay in power. The current system of a two party politics is just bad for all Americans. Left vs right, liberal vs conversatives, pick a side and don't even try to work with the other side is the MO for both parties now.

This. So this.

For every "the left sells rage!" I could come back with "the right sells fear!"
For every "liberalism is a mental disorder!" I could come lament the "inbred, ignorant rednecks!"

The problem is that the more people embrace this sort of reductive thinking -- and trust me, I know it is tempting -- the more %ucked we are as a country.
 
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CNote

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But the cost where going up before (as the left likes to argue)

My costs have gone up way faster since Obamacare, and my coverage has gotten much much worse.
I had to switch to the HMO a couple years ago, as the max out of pocket on the PPO (family) passed 10K.

Next year the HMO was going to increase by over 25%, so to keep the price the same, we now have an HMO with a $6,000 max out of pocket.
Cost of a few days in the hospital would now be $6,000 instead of the previous $125.

Before Obama care, I paid 1/3 less for a PPO with a $3,500 max out of pocket.

Only people happy with Obamacare are the people who are heavily subsidized by the taxpayers, or the people bilking the insurance companies by running the fake rehab centers out here in California.
Did you have the same plan? Or was the previous one even more basic than what you have now? Plus do you live in ine of the states that decided to not start its own market? The ones who have seem to be doing ok... its almost like those states have a vested interest in it succeeding.
 

Geforcepat

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I heard one employee at comcast say his office got a $1000 bonus and a raise. he got a 1.50 raise.
 

hlfbkd420

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I don't think it's because of the tax bill passing. It's more than like because Net Neutrality is gone and they are rubbing their greedy fingers over it... Look good with a bonus only to raise prices on all internet users.
 

John Ransom

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Oh, you mean the single mother that would have previously been able to use CHIP before this current administration/congress let is lapse?
You think people will be better off with medical bills now that ACA has been gutted by removing the mandate, cutting funding to get people enrolled, and making enrollment a shorter window?

If you think the current administration/congress is working for the general publics good, I really don't know what to tell you. They are just removing anything the last administration did regardless of it's merit (like the fact that airlines were made to disclose bag fees, better get rid of that!), and pillaging this country for all it's worth.
CHIPS is still there, Trump is redirecting money from another facility until the vote can take place.
 

Uvaman2

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But the cost where going up before (as the left likes to argue)

My costs have gone up way faster since Obamacare, and my coverage has gotten much much worse.
I had to switch to the HMO a couple years ago, as the max out of pocket on the PPO (family) passed 10K.

Next year the HMO was going to increase by over 25%, so to keep the price the same, we now have an HMO with a $6,000 max out of pocket.
Cost of a few days in the hospital would now be $6,000 instead of the previous $125.

Before Obama care, I paid 1/3 less for a PPO with a $3,500 max out of pocket.

Only people happy with Obamacare are the people who are heavily subsidized by the taxpayers, or the people bilking the insurance companies by running the fake rehab centers out here in California.
There's gobs of information missing here.
 

nutzo

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Did you have the same plan? Or was the previous one even more basic than what you have now? Plus do you live in ine of the states that decided to not start its own market? The ones who have seem to be doing ok... its almost like those states have a vested interest in it succeeding.

I live in California which has complete embraced Obamacare and has it's own insurance marketplace, the biggest market in the country.
These are work plans. Since I actual have a decent job I wouldn't qualify for any of the subsidized plans they spend millions advertising on TV.

My office used to just have a small business group plan, but due to the huge price increases, joined a large industry group plan (multiple small companies) to hold back the price increases.

The PPO plan I had several years ago would likely be 2 to 3 times more expensive, if it was still available.
 

John Ransom

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Bonus implies one time. I'd be impressed if they said raise.

Additionally, the highlight of that story shouldn't be the bonus, but the price hike.
Tax cuts are never permanent you can't actually budget off of them. If they did they would be being irresponsible.
 

Biznatch

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Ah, the 'people' that believe that being better off is not being better off because someone else is more better off. To go through life not knowing how percentages work, smh ... and you call those that do "morons".


You can thank Obamacare for that one. Ever since that law went into effect half my families doctors retired or left general medicine and my rates have nearly tripled.


This is the exact mindset of GOP voters and why this bullshit money grab passed and has them all cheering. They dangle a piece of a carrot in front of them, and they jump for joy, but are too short sighted to see what's going to happen in the future, and who will end up paying for this. Then they default to the bullshit 'liberal' label as if that negates any opposing argument.....

I make very good money, and yes I will see a good decrease in taxes (until they expire). But this is the wrong time to add to the deficit so the rich/corporations can get a handout. We are at what, almost at a 20T deficit right now? So the party of no increase to the deficit just handed out money to the people that need it least, myself included. The poor/middle class need this FAR more than I or the rich do, and I would have much preferred if the cuts to be focused on them like the cheeto claimed repeatedly. Or how about removing all the bullshit deductions the top is using to avoid paying their share?



And healthcare was rising at a faster rate before ACA.... But like I've said before, that was a poor bandaid fix for our completely broken healthcare/insurance model in the US. When it's cheaper to purchase a plane ticket to fly to another country and pay out of pocket for a procedure than it is to get it done in the US with insurance, there is a big fucking problem. And our healthcare is ridiculously shitty for being a first world country.....
 
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