AT&T handing out $1,000 bonuses to 200.000 US employees after tax bill passes

[A dot Ham]

AT&T Is Handing Out $1,000 Bonuses To Its Employees After Tax Bill Passes

AT&T is handing out $1,000 bonuses to 200,000 of its U.S. employees after lawmakers successfully passed tax reform on Wednesday.

The Dallas-based telecom company also reiterated its promise to invest $1 billion in the country in 2018 if the bill is signed into law. The sweeping tax reform was approved by Congress this afternoon and will now go to President Donald Trump for his signature.

"Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,” said AT&T CEO Randall Stephenson in a statement. “This tax reform will drive economic growth and create good-paying jobs."



https://www.forbes.com/sites/laureng.../#5bd48b277d61

Awesome to see what a business president can accomplish

This says a lot about AT&T and virtually nothing about tax reform, and/or the current president or his policies.

In other words this is an empty gesture.

First, not all companies are going to kick the money they save this year on taxes to their employees, or their stockholders.

Second, considering the implications of the FCC net neutrality vote, AT&T will make that back in no time flat.

[Bryntrollian]

Comcast is doing the same, right?

[Nurasu]

Comcast is doing the same, right?

Yes; they're both drinking champagne and letting it "trickle down" on their employees.

[furydeath]

let me know when Walmart finally pays its workers better.

[Nurasu]

let me know when Walmart finally pays its workers better.

Pfff, AT&T isn't paying anyone better either. Statistically, this bonus will go to employees' debt and do nothing to reinvest or reinvigorate the economy. Neither will ATT's tax break; they're still downsizing offices, outsourcing customer service, and monopolizing local markets (more so if they get their merger).

[God Save The King]

Is this actually true - is the tax rate for corporations in the rest of the industrialized world at around 20%?

The worldwide average is 22.6%, when weighting for population and GDP, it is 30.6%.

Looking at just the industrialized world, the USA is, in theory, higher. But it is effectively the same as other countries, a little bit above the average. This is because of the staggering number of deductions and loopholes.

The USA could stand to lower the corporate tax rate, and rebuild the tax code. Foreign countries, with lower taxes & better social systems, simply spend their money better and more efficiently than the USA. The actual tax rate in our nation isn't crazy high, but we spend all those resources poorly when compared to the rest of the developed world.

[Bryntrollian]

Yes; they're both drinking champagne and letting it "trickle down" on their employees.

At the same time, they plan to raise the billing rates of their customer base by a decent margin.

[Swizzington]

If anyone looks at this story and thinks this justifies the tax bill then well...they are a gullible fool.

[WoWGoneBad]

Its 1000 more than I'm getting, it's probably 1000 more than the employee's expected.

Wait until they get hit with the Tax burden of that increased income......

[Zan15]

AT&T Is Handing Out $1,000 Bonuses To Its Employees After Tax Bill Passes

AT&T is handing out $1,000 bonuses to 200,000 of its U.S. employees after lawmakers successfully passed tax reform on Wednesday.

The Dallas-based telecom company also reiterated its promise to invest $1 billion in the country in 2018 if the bill is signed into law. The sweeping tax reform was approved by Congress this afternoon and will now go to President Donald Trump for his signature.

"Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,” said AT&T CEO Randall Stephenson in a statement. “This tax reform will drive economic growth and create good-paying jobs."



https://www.forbes.com/sites/laureng.../#5bd48b277d61

Awesome to see what a business president can accomplish

Gullible trumpkins at it again

As its already been said this amounts to pennies for ATT on top of the amount they will save next year.
200m is about 6% ish of the total they will save.

but it gets worse, if you calculate the 10 year savings on this plan vs the 200 million dollars it will come close to 40 billion dollars, while giving employees 200 million since they have not committed the 200m for the next 10 years.

1 billion dollar one time investment out of the 22.4 billion they already spend and out of the 16 billion in free cash flow is next to nothing.

this is nothing but a 1 time publicity show to garner favor from regulators, trump and the public when they are trying to merge with another company.


So where is the other 94% of their savings going? Based on stock ownership and executive bonuses, Most of its going right to the 1%.

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According to the Institute on Taxation and Economic Policy, AT&T enjoyed an effective tax rate of just 8 percent between 2008 and 2015, despite recording a profit in the United States each year, by exploiting tax breaks and loopholes. (The company argues that it pays significant taxes, at a rate close to 34 percent in recent years, but that includes deferred taxes and state and local levies.)

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ATT by our analysis at the Institute for Policy Studies, reduced its total work force by nearly 80,000 jobs between 2008 and 2016

Whoot they are going to create a few hundred jobs.......

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The company has also spent $34 billion repurchasing its own stock since 2008, according to our institute report, a maneuver that artificially inflates the value of a company’s shares. This is money that could have gone toward research and development or hiring.

Gee i wonder where that tax break will go????

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https://www.nytimes.com/2017/08/30/o...cuts-jobs.html

Our report analyzes the 92 publicly held American corporations that reported a profit in the United States every year from 2008 through 2015 and paid less than 20 percent of their earnings in federal income tax.

If claims about the job-creation benefits of lower tax rates had any validity, these 92 consistently profitable firms would be among the nation’s strongest job creators. Instead, we found just the opposite.

The companies we reviewed had a median job-growth rate over the past nine years of nearly negative 1 percent, compared with 6 percent for the private sector as a whole. Of those 92 companies, 48 got rid of a combined total of 483,000 jobs.


At the companies that cut jobs, chief executives’ pay last year averaged nearly $15 million, compared with the $13 million average for S&P 500 companies.

[WoWGoneBad]

My job has been trying to fill 10 different positions for the past year, the problem isn't the jobs its that the people don't want to get the prerequisite skills.

It is not that people do not want to get the necessary skills(well for some yes) but it is the tremendous amount of debt they will incurre to get those skills. Then you have the ones who are saying, why spend thousands on education to get a job starting at 15 per hour when I can go work for Wal-Mart or Target and get the same amount.

Take for instance me, I received 2 emails for Admin positions. 1 at 13 per hour and 1 for 16 per hour. I spent 45k on a Information Technology degree wher it sits in my drawer collecting dust. Not because I have not "tried" to get a job, but because I dont have the skills to get the job.. Funny how that works. GEt an education to get minimal skills for a job that wants 1-3 years experience and you have 6 months.

People are tired of seeing these ads and said fuck it, go work for walmart and make the same. FYI: the above is example not par for course.

But as to the topic, yeah when I read it I was like, "hey that is pretty cool" then once I let it sink in I was ROFLMAOing......... 1k bonus isnt shit in today's economy. It is one monts rent in LOW income areas, a car payment, Credit Card payments for Xmas shopping.....

Now let the tax situation sit in and then you will prolly lose about 100 of that frm taxes. Be taxed at the new year for the 1000 bonus along with your current wages......

What seemed ike good PR is just trickle down shit from the top while they light their 250 dollar cigars with their 100 dollar bills and laugh at Mar a Lago with Trump, Ryan and McConnell

[IIamaKing]

Are you trolling? $1,000 usd is nothing.

In that case please send me 1000 dollars usd. Its nothing after all.

[Hilhen7]

In that case please send me 1000 dollars usd. Its nothing after all.

Sure, just wait until the government gives me millions in handouts.

[Mittens]

Yeah, you're not a nurse and you are wrong.

Also; nursing is one of the professions being impacted by technology.

Nursing is among the safest jobs.

https://www.theguardian.com/us-news/...reative-health

[Serenity91]

The whole "the rich are just helping their fellow rich out!" line is one that really has no place outside of liberal talk shows. It sounds good at face value and its a convenient sounding excuse to rage against something GOP.

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The real question is, why do *you* like the idea of the government have more of your money?

Because I'm not stuck in permanent teenage rebel mode and acknowledge that my country needs the money to function properly?

[Clone]

Nursing is among the safest jobs.

https://www.theguardian.com/us-news/...reative-health

No it's not. Nursing has become oversaturated in the past few years. Many aspects of a nurse's job can also be automated to decrease the amount of nurse's needed.

[Dezerte]

Awesome to see what a business president can accomplish

Yup.

"Up to 1400 AT&T employees are getting coal in their stocking courtesy of AT&T."

http://www.dslreports.com/shownews/A...ristmas-140923

[Mosotti]

A company firing people not needed anymore by the business? Unheard-of!

[Draco-Onis]

A company firing people not needed anymore by the business? Unheard-of!

But it is when you are spinning the PR line that tax cuts were the thing you needed to hire tons of people and give raises.

[Mosotti]

But it is when you are spinning the PR line that tax cuts were the thing you needed to hire tons of people and give raises.

But do you understand that a huge company with hundreds of thousands of workers needs different skills right? If the business is shifting why keep a thousand installers when there's nothing to install anymore?