Current Events > Tax cut went towards stock buybacks, not wages

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Antifar 06/28/18 8:02:15 AM #1:	https://www.nbcnews.com/business/economy/what-did-corporate-america-do-tax-break-buy-record-amounts-n886621 The Republican tax reform package that was supposed to raise wages and spur hiring has instead funded a record stock buyback and dividend spree, benefiting investors and company executives over workers. President Donald Trump signed the bill in December last year, saying the corporate tax cut would make it favorable for companies to bring back into the U.S. cash stashed in foreign operations. "More than 70 percent of this [tax cut] will be returned to workers," said White House Press Secretary Sarah Huckabee Sanders at a January press conference after the bill came into effect. However, companies have instead used the extra cash to spend billions of dollars buying back their own stock, boosting the value of shares held by investors. Buybacks reduce the number of shares on the market, immediately increasing the value of the shares that investors already hold. Over the past year, S&P 500 companies have given their shareholders a record $1 trillion in the form of buybacks and dividends, led by Apple, Cisco Systems, and other technology giants. Stock repurchases hit nearly $190 billion in the first quarter for the S&P 500, according to preliminary results from S&P Dow Jones Indices. The last time that record was set was just before the Great Recession, when companies bought up almost $172 billion of buybacks. Compounding the issue is a recent study by the Office of SEC Commissioner Robert Jackson that found that a stock buyback announcement often leads to a short-term stock price pop, which corporate insiders use to cash out their shares. "I think its high time the SEC reexamine its outdated buybacks rules, said Rob Jackson, a commissioner at the agency. Labor market expert Harry Holzer, a professor of public policy at Georgetown, told NBC News that he and his colleagues aren't surprised that the corporate tax cut's main beneficiaries haven't been workers. "Productivity has been lousy in the U.S. since the dotcom boom ended, but companies have seemed to not need high productivity to have high profits, so they don't have incentive to invest in their workers or in capital," he said. "Throwing more money at them to lower corporate taxes is not something that will solve that problem." Repatriating cash from overseas or a windfall from lower tax bills has given many companies a surge of capital to put to work," Greg McBride, chief financial analyst for Bankrate.com, told NBC News. "There is little argument that wage growth has been the most sluggish aspect of the economy recovery. Some companies did use part of the tax cut to give their employees a one-time cash bonus, allowing them to benefit workers without raising the company's fixed costs. However, employees pay a higher tax on bonuses as supplemental income. Average hourly pay has risen 2.7 percent in May from a year ago, but it's not as fast as the surge in corporate profits. One solution might be to access the $2 trillion in excess reserves currently in the banking system, suggested Louis Hyman, an assistant professor at Cornell University's School of Industrial and Labor Relations, in an email. "Instead of focusing on tax cuts, we should be focused on ways to get that capital invested in growth industries that employ ordinary Americans," said Hyman. --- kin to all that throbs <cite>Antifar posted [p:904114425] in Tax cut we... [t:76757968]...</cite> <quote>https://www.nbcnews.com/business/economy/what-did-corporate-america-do-tax-break-buy-record-amounts-n886621 <quote>The Republican tax reform package that was supposed to raise wages and spur hiring has instead funded a record stock buyback and dividend spree, benefiting investors and company executives over workers. President Donald Trump signed the bill in December last year, saying the corporate tax cut would make it favorable for companies to bring back into the U.S. cash stashed in foreign operations. "More than 70 percent of this [tax cut] will be returned to workers," said White House Press Secretary Sarah Huckabee Sanders at a January press conference after the bill came into effect. However, companies have instead used the extra cash to spend billions of dollars buying back their own stock, boosting the value of shares held by investors. Buybacks reduce the number of shares on the market, immediately increasing the value of the shares that investors already hold. Over the past year, S&P 500 companies have given their shareholders a record $1 trillion in the form of buybacks and dividends, led by Apple, Cisco Systems, and other technology giants. Stock repurchases hit nearly $190 billion in the first quarter for the S&P 500, according to preliminary results from S&P Dow Jones Indices. The last time that record was set was just before the Great Recession, when companies bought up almost $172 billion of buybacks. Compounding the issue is a recent study by the Office of SEC Commissioner Robert Jackson that found that a stock buyback announcement often leads to a short-term stock price pop, which corporate insiders use to cash out their shares. "I think its high time the SEC reexamine its outdated buybacks rules, said Rob Jackson, a commissioner at the agency. Labor market expert Harry Holzer, a professor of public policy at Georgetown, told NBC News that he and his colleagues aren't surprised that the corporate tax cut's main beneficiaries haven't been workers. "Productivity has been lousy in the U.S. since the dotcom boom ended, but companies have seemed to not need high productivity to have high profits, so they don't have incentive to invest in their workers or in capital," he said. "Throwing more money at them to lower corporate taxes is not something that will solve that problem." Repatriating cash from overseas or a windfall from lower tax bills has given many companies a surge of capital to put to work," Greg McBride, chief financial analyst for Bankrate.com, told NBC News. "There is little argument that wage growth has been the most sluggish aspect of the economy recovery. Some companies did use part of the tax cut to give their employees a one-time cash bonus, allowing them to benefit workers without raising the company's fixed costs. However, employees pay a higher tax on bonuses as supplemental income. Average hourly pay has risen 2.7 percent in May from a year ago, but it's not as fast as the surge in corporate profits. One solution might be to access the $2 trillion in excess reserves currently in the banking system, suggested Louis Hyman, an assistant professor at Cornell University's School of Industrial and Labor Relations, in an email. "Instead of focusing on tax cuts, we should be focused on ways to get that capital invested in growth industries that employ ordinary Americans," said Hyman.</quote></quote> ... Copied to Clipboard!
ManBeast462 06/28/18 8:03:48 AM #2:	Most employees have stock options --- https://imgur.com/EKKJrY6 <cite>ManBeast462 posted [p:904114462] in Tax cut we... [t:76757968]...</cite> <quote>Most employees have stock options</quote> ... Copied to Clipboard!
SK8T3R215 06/28/18 8:05:45 AM #3:	ManBeast462 posted... Most employees have stock options Lol no --- New York Knicks, New York Jets, New York Yankees. <cite>SK8T3R215 posted [p:904114531] in Tax cut we... [t:76757968]...</cite> <quote><cite>ManBeast462 posted...</cite> <quote>Most employees have stock options</quote> Lol no</quote> ... Copied to Clipboard!
GATTJT 06/28/18 8:07:36 AM #4:	Nobody saw this coming. --- http://steamcommunity.com/id/gamerfanfan/wishlist <cite>GATTJT posted [p:904114593] in Tax cut we... [t:76757968]...</cite> <quote>Nobody saw this coming.</quote> ... Copied to Clipboard!
deupd_u 06/28/18 8:07:37 AM #5:	We have all this extra money now, let's waste it by paying people more for work they already do for their current pay! --- Snipers don't shoot at paper, they shoot watermelons. https://imgur.com/jo511lG <cite>deupd_u posted [p:904114594] in Tax cut we... [t:76757968]...</cite> <quote>We have all this extra money now, let's waste it by paying people more for work they already do for their current pay!</quote> ... Copied to Clipboard!
Anarchy_Juiblex 06/28/18 8:13:02 AM #6:	Duh. --- "Tolerance of intolerance is cowardice." ~ Ayaan Hirsi Ali <cite>Anarchy_Juiblex posted [p:904114748] in Tax cut we... [t:76757968]...</cite> <quote>Duh.</quote> ... Copied to Clipboard!
kelemvor 06/28/18 8:19:43 AM #7:	ManBeast462 posted... Most employees have stock options I do. If not, most employees definitely have 401(k)s. <cite>kelemvor posted [p:904114927] in Tax cut we... [t:76757968]...</cite> <quote><cite>ManBeast462 posted...</cite> <quote>Most employees have stock options</quote> I do. If not, most employees definitely have 401(k)s.</quote> ... Copied to Clipboard!
Darkman124 06/28/18 8:20:36 AM #8:	kelemvor posted... ManBeast462 posted... Most employees have stock options I do. If not, most employees definitely have 401(k)s. prove it also prove that their holdings in the 401k would make a stock buyback even remotely comparable to a wage increase to topic, as an investor: duh. --- And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not. <cite>Darkman124 posted [p:904114946] in Tax cut we... [t:76757968]...</cite> <quote><cite>kelemvor posted...</cite> <quote><cite>ManBeast462 posted...</cite> <quote>Most employees have stock options</quote> I do. If not, most employees definitely have 401(k)s.</quote> prove it also prove that their holdings in the 401k would make a stock buyback even remotely comparable to a wage increase to topic, as an investor: duh.</quote> ... Copied to Clipboard!
Southernfatman 06/28/18 8:28:17 AM #9:	Idiots will still be happy because they got some crumbs. They'll gladly lube themselves up and bend over and grab their ankles for any little thing. --- https://imgur.com/hslUvRN When I sin I sin real good. <cite>Southernfatman posted [p:904115164] in Tax cut we... [t:76757968]...</cite> <quote>Idiots will still be happy because they got some crumbs. They'll gladly lube themselves up and bend over and grab their ankles for any little thing.</quote> ... Copied to Clipboard!
Bio1590 06/28/18 8:37:55 AM #10:	Nobody could have predicted this would happen! --- https://imgur.com/bbRWLI8 https://imgur.com/A0BErSV <cite>Bio1590 posted [p:904115424] in Tax cut we... [t:76757968]...</cite> <quote>Nobody could have predicted this would happen!</quote> ... Copied to Clipboard!
Hexenherz 06/28/18 8:38:22 AM #11:	is anyone really surprised by this? I already see people defending it lmfao --- ESO: @Ultima_Vyse RS3: UltimaSuende . 99 WC/99 FISH/ 85/99 Cooking <cite>Hexenherz posted [p:904115435] in Tax cut we... [t:76757968]...</cite> <quote>is anyone really surprised by this? I already see people defending it lmfao</quote> ... Copied to Clipboard!
John_Galt 06/28/18 8:41:47 AM #12:	I'm not seeing the problem here --- Who is John Galt? <cite>John_Galt posted [p:904115556] in Tax cut we... [t:76757968]...</cite> <quote>I'm not seeing the problem here</quote> ... Copied to Clipboard!
Antifar 06/28/18 8:42:42 AM #13:	kelemvor posted... If not, most employees definitely have 401(k)s. They do not, at least not with any money in them In total, only 14% of companies had 401(k) plans for their employees in 2012, according to a January 2017 report from two U.S. Census Bureau researchers who reviewed all W-2 tax forms in the U.S., and those are mostly larger companies. Of those, only about a third of workers are contributing to those plans. Put another way only about 54 million American workers put money into a 401(k) plan in 2015, according to the Investment Company Institute, while 150 million were employed in that year, according to the Bureau of Labor Statistics). --- kin to all that throbs <cite>Antifar posted [p:904115581] in Tax cut we... [t:76757968]...</cite> <quote><cite>kelemvor posted...</cite> <quote>If not, most employees definitely have 401(k)s. </quote> They do not, at least not with any money in them <quote>In total, only 14% of companies had 401(k) plans for their employees in 2012, according to a January 2017 report from two U.S. Census Bureau researchers who reviewed all W-2 tax forms in the U.S., and those are mostly larger companies. Of those, only about a third of workers are contributing to those plans. Put another way only about 54 million American workers put money into a 401(k) plan in 2015, according to the Investment Company Institute, while 150 million were employed in that year, according to the Bureau of Labor Statistics).</quote></quote> ... Copied to Clipboard!
Solar_Crimson 06/28/18 8:43:42 AM #14:	You mean a tax plan put forth by a business mogul benefits other businesses instead of their workers? Say it ain't so! --- Be wary of boarding the hype train, lest you end up on the ruse cruise... - nanobuilder (r/nintendo) http://backloggery.com/SolarCrimson <cite>Solar_Crimson posted [p:904115617] in Tax cut we... [t:76757968]...</cite> <quote>You mean a tax plan put forth by a business mogul benefits other businesses instead of their workers? Say it ain't so!</quote> ... Copied to Clipboard!
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Darkman124 06/28/18 8:43:59 AM #16:	Antifar posted... In total, only 14% of companies had 401(k) plans for their employees in 2012, according to a January 2017 report from two U.S. Census Bureau researchers who reviewed all W-2 tax forms in the U.S., and those are mostly larger companies. Of those, only about a third of workers are contributing to those plans. Put another way only about 54 million American workers put money into a 401(k) plan in 2015, according to the Investment Company Institute, while 150 million were employed in that year, according to the Bureau of Labor Statistics). Those numbers don't add up- they suggest 14% of companies employ nearly 99% of workers. Are they counting traditional IRAs as 401k plans? --- And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not. <cite>Darkman124 posted [p:904115621] in Tax cut we... [t:76757968]...</cite> <quote><cite>Antifar posted...</cite> <quote>In total, only 14% of companies had 401(k) plans for their employees in 2012, according to a January 2017 report from two U.S. Census Bureau researchers who reviewed all W-2 tax forms in the U.S., and those are mostly larger companies. Of those, only about a third of workers are contributing to those plans. Put another way only about 54 million American workers put money into a 401(k) plan in 2015, according to the Investment Company Institute, while 150 million were employed in that year, according to the Bureau of Labor Statistics). </quote> Those numbers don't add up- they suggest 14% of companies employ nearly 99% of workers. Are they counting traditional IRAs as 401k plans?</quote> ... Copied to Clipboard!
frozenshock 06/28/18 8:44:45 AM #17:	It was the same thing in 2008. --- I don't hate people, people hate me. <cite>frozenshock posted [p:904115640] in Tax cut we... [t:76757968]...</cite> <quote>It was the same thing in 2008.</quote> ... Copied to Clipboard!
A_Good_Boy 06/28/18 8:46:27 AM #18:	Where's @Caution999? The president needs defending. --- Who is? I am! <cite>A_Good_Boy posted [p:904115677] in Tax cut we... [t:76757968]...</cite> <quote>Where's @Caution999? The president needs defending.</quote> ... Copied to Clipboard!
Darkman124 06/28/18 8:47:34 AM #19:	A_Good_Boy posted... Where's Caution999? The president needs defending. he claimed he quit this board --- And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not. <cite>Darkman124 posted [p:904115707] in Tax cut we... [t:76757968]...</cite> <quote><cite>A_Good_Boy posted...</cite> <quote>Where's Caution999? The president needs defending.</quote> he claimed he quit this board</quote> ... Copied to Clipboard!
HydraSlayer82 06/28/18 8:48:08 AM #20:	Heres recent: https://www.cnbc.com/2018/03/12/how-many-americans-dont-have-access-to-a-401k.html Its pathetic. --- Sigless user <cite>HydraSlayer82 posted [p:904115726] in Tax cut we... [t:76757968]...</cite> <quote>Heres recent: https://www.cnbc.com/2018/03/12/how-many-americans-dont-have-access-to-a-401k.html Its pathetic.</quote> ... Copied to Clipboard!
thronedfire2 06/28/18 8:48:47 AM #21:	Duh? --- I could see you, but I couldn't hear you You were holding your hat in the breeze Turning away from me In this moment you were stolen... <cite>thronedfire2 posted [p:904115742] in Tax cut we... [t:76757968]...</cite> <quote>Duh?</quote> ... Copied to Clipboard!
A_Good_Boy 06/28/18 8:48:55 AM #22:	Darkman124 posted... A_Good_Boy posted... Where's Caution999? The president needs defending. he claimed he quit this board Then that means @Capn Circus stands alone. --- Who is? I am! <cite>A_Good_Boy posted [p:904115748] in Tax cut we... [t:76757968]...</cite> <quote><cite>Darkman124 posted...</cite> <quote><cite>A_Good_Boy posted...</cite> <quote> Where's Caution999? The president needs defending.</quote> he claimed he quit this board</quote> Then that means @Capn Circus stands alone.</quote> ... Copied to Clipboard!
itachi15243 06/28/18 8:49:58 AM #23:	John_Galt posted... I'm not seeing the problem here Then you're blind --- I do drawings and stuff https://www.fiverr.com/blueblitz <cite>itachi15243 posted [p:904115781] in Tax cut we... [t:76757968]...</cite> <quote><cite>John_Galt posted...</cite> <quote>I'm not seeing the problem here</quote> Then you're blind</quote> ... Copied to Clipboard!
Hexenherz 06/28/18 8:50:43 AM #24:	P sure John Galt is a throwaway gimmick account given the name and everything. --- ESO: @Ultima_Vyse RS3: UltimaSuende . 99 WC/99 FISH/ 85/99 Cooking <cite>Hexenherz posted [p:904115807] in Tax cut we... [t:76757968]...</cite> <quote>P sure John Galt is a throwaway gimmick account given the name and everything.</quote> ... Copied to Clipboard!
voldothegr8 06/28/18 9:02:31 AM #25:	Unemployment is the lowest it has been in 18 years which matches the lowest it has been since the 60's. Jobs are plentiful again and there aren't long lines in the application pools these days, in other words far less competition for jobs which means better chance of getting hired. I'm sure some execs are treating themselves as they tend to no matter the economic landscape, but it's disingenuous at best to imply the tax cuts haven't stimulated job growth. Companies aren't being taxed to death anymore and ARE hiring more as a result. --- Oda break tracker 2018- 3 (2) \| THE Ohio State: 11-2 \| Oakland Raiders: 6-10 Super Mario Maker Profile: 1237-0000-0073-02FE <cite>voldothegr8 posted [p:904116163] in Tax cut we... [t:76757968]...</cite> <quote>Unemployment is the lowest it has been in 18 years which matches the lowest it has been since the 60's. Jobs are plentiful again and there aren't long lines in the application pools these days, in other words far less competition for jobs which means better chance of getting hired. I'm sure some execs are treating themselves as they tend to no matter the economic landscape, but it's disingenuous at best to imply the tax cuts haven't stimulated job growth. Companies aren't being taxed to death anymore and ARE hiring more as a result.</quote> ... Copied to Clipboard!
foreveraIone 06/28/18 9:03:37 AM #26:	Hexenherz posted... P sure John Galt is a throwaway gimmick account given the name and everything. i think he used to go by simply dave. --- https://imgur.com/aVTScxQ Always. Edgy. <cite>foreveraIone posted [p:904116205] in Tax cut we... [t:76757968]...</cite> <quote><cite>Hexenherz posted...</cite> <quote>P sure John Galt is a throwaway gimmick account given the name and everything.</quote> i think he used to go by simply dave.</quote> ... Copied to Clipboard!
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KamenRiderBlade 06/28/18 9:09:29 AM #28:	You can never trust a corporation to raise wages for it's employees. That should be obvious knowledge #1 to anybody who lives in the modern US. --- Are you a MexiCAN or a MexiCAN'T - Johnny Depp '*Once Upon A Time in Mexico*' <cite>KamenRiderBlade posted [p:904116416] in Tax cut we... [t:76757968]...</cite> <quote>You can never trust a corporation to raise wages for it's employees. That should be obvious knowledge #1 to anybody who lives in the modern US.</quote> ... Copied to Clipboard!
Darkman124 06/28/18 9:10:34 AM #29:	KamenRiderBlade posted... You can never trust a corporation to raise wages for it's employees. That should be obvious knowledge #1 to anybody who lives in the modern US. it should, yes. --- And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not. <cite>Darkman124 posted [p:904116459] in Tax cut we... [t:76757968]...</cite> <quote><cite>KamenRiderBlade posted...</cite> <quote>You can never trust a corporation to raise wages for it's employees. That should be obvious knowledge #1 to anybody who lives in the modern US.</quote> it should, yes.</quote> ... Copied to Clipboard!
DemonBuffet 06/28/18 9:12:10 AM #30:	Lmao!!!! Maga maga maga maga --- Trololol <cite>DemonBuffet posted [p:904116514] in Tax cut we... [t:76757968]...</cite> <quote>Lmao!!!! Maga maga maga maga</quote> ... Copied to Clipboard!
IMNOTRAGED 06/28/18 9:13:05 AM #31:	Southernfatman posted... Idiots will still be happy because they got some crumbs. They'll gladly lube themselves up and bend over and grab their ankles for any little thing. --- https://imgur.com/kkm3QaD <cite>IMNOTRAGED posted [p:904116548] in Tax cut we... [t:76757968]...</cite> <quote><cite>Southernfatman posted...</cite> <quote>Idiots will still be happy because they got some crumbs. They'll gladly lube themselves up and bend over and grab their ankles for any little thing.</quote></quote> ... Copied to Clipboard!
CableZL 06/28/18 9:13:38 AM #32:	KamenRiderBlade posted... You can never trust a corporation to raise wages for it's employees. That should be obvious knowledge #1 to anybody who lives in the modern US. Pretty much. When I first started working, I kinda just expected to be given annual raises. Even when I did work at places that gave annual raises, the raises weren't very meaningful. I've done much better for myself by getting certs and just demanding raises or moving to another company that will pay more. --- https://imgur.com/ByKGlJb https://imgur.com/nZdaA8D https://imgur.com/VBLBILg <cite>CableZL posted [p:904116572] in Tax cut we... [t:76757968]...</cite> <quote><cite>KamenRiderBlade posted...</cite> <quote>You can never trust a corporation to raise wages for it's employees. That should be obvious knowledge #1 to anybody who lives in the modern US.</quote> Pretty much. When I first started working, I kinda just expected to be given annual raises. Even when I did work at places that gave annual raises, the raises weren't very meaningful. I've done much better for myself by getting certs and just demanding raises or moving to another company that will pay more.</quote> ... Copied to Clipboard!
NinjaWarrior455 06/28/18 9:17:04 AM #33:	Libcucks BTFO!!! MAGA!!! --- Super Bowl 52 Champions!!!! http://myanimelist.net/animelist/NinjaWarrior457 <cite>NinjaWarrior455 posted [p:904116688] in Tax cut we... [t:76757968]...</cite> <quote>Libcucks BTFO!!! MAGA!!!</quote> ... Copied to Clipboard!
FLUFFYGERM 06/28/18 9:18:37 AM #34:	According to government data, there has been an increase in weekly/hourly wages from May 2017 to May 2018. https://www.bls.gov/news.release/empsit.t24.htm Would like to see the wages go up faster and harder, but these things take time. You can't force someone's labor to be worth more than it really is. Economy has to grow and there has to be competition for employees if you want higher wages. https://www.economist.com/united-states/2017/11/14/blue-collar-wages-are-surging.-can-it-last https://www.nytimes.com/2018/01/05/business/economy/jobs-report.html --- Do good. Eat communists. <cite>FLUFFYGERM posted [p:904116744] in Tax cut we... [t:76757968]...</cite> <quote>According to government data, there has been an increase in weekly/hourly wages from May 2017 to May 2018. https://www.bls.gov/news.release/empsit.t24.htm Would like to see the wages go up faster and harder, but these things take time. You can't force someone's labor to be worth more than it really is. Economy has to grow and there has to be competition for employees if you want higher wages. https://www.economist.com/united-states/2017/11/14/blue-collar-wages-are-surging.-can-it-last https://www.nytimes.com/2018/01/05/business/economy/jobs-report.html</quote> ... Copied to Clipboard!
FLUFFYGERM 06/28/18 9:19:45 AM #35:	CableZL posted... KamenRiderBlade posted... You can never trust a corporation to raise wages for it's employees. That should be obvious knowledge #1 to anybody who lives in the modern US. Pretty much. When I first started working, I kinda just expected to be given annual raises. Even when I did work at places that gave annual raises, the raises weren't very meaningful. I've done much better for myself by getting certs and just demanding raises or moving to another company that will pay more. I've been at my current job for a bit over two years now. First year I got an 8% raise in total comp, second year I got a 9% raise in total comp. I'm expecting this year to be 15% as I'm gunning for a promotion as well. Depends where you work, broseph. --- Do good. Eat communists. <cite>FLUFFYGERM posted [p:904116798] in Tax cut we... [t:76757968]...</cite> <quote><cite>CableZL posted...</cite> <quote><cite>KamenRiderBlade posted...</cite> <quote>You can never trust a corporation to raise wages for it's employees. That should be obvious knowledge #1 to anybody who lives in the modern US.</quote> Pretty much. When I first started working, I kinda just expected to be given annual raises. Even when I did work at places that gave annual raises, the raises weren't very meaningful. I've done much better for myself by getting certs and just demanding raises or moving to another company that will pay more.</quote> I've been at my current job for a bit over two years now. First year I got an 8% raise in total comp, second year I got a 9% raise in total comp. I'm expecting this year to be 15% as I'm gunning for a promotion as well. Depends where you work, broseph.</quote> ... Copied to Clipboard!
itachi15243 06/28/18 9:26:46 AM #36:	voldothegr8 posted... Unemployment is the lowest it has been in 18 years which matches the lowest it has been since the 60's. Jobs are plentiful again and there aren't long lines in the application pools these days, in other words far less competition for jobs which means better chance of getting hired. I'm sure some execs are treating themselves as they tend to no matter the economic landscape, but it's disingenuous at best to imply the tax cuts haven't stimulated job growth. Companies aren't being taxed to death anymore and ARE hiring more as a result. Actually, the unemployment is largely due to people leaving the labor force recently and jobs aren't being created at the rate they should and hiring is very sluggish. That along with wage increase also being very slow to rise could end up being an issue --- I do drawings and stuff https://www.fiverr.com/blueblitz <cite>itachi15243 posted [p:904117067] in Tax cut we... [t:76757968]...</cite> <quote><cite>voldothegr8 posted...</cite> <quote>Unemployment is the lowest it has been in 18 years which matches the lowest it has been since the 60's. Jobs are plentiful again and there aren't long lines in the application pools these days, in other words far less competition for jobs which means better chance of getting hired. I'm sure some execs are treating themselves as they tend to no matter the economic landscape, but it's disingenuous at best to imply the tax cuts haven't stimulated job growth. Companies aren't being taxed to death anymore and ARE hiring more as a result.</quote> Actually, the unemployment is largely due to people leaving the labor force recently and jobs aren't being created at the rate they should and hiring is very sluggish. That along with wage increase also being very slow to rise could end up being an issue</quote> ... Copied to Clipboard!
CableZL 06/28/18 9:30:15 AM #37:	FLUFFYGERM posted... I've been at my current job for a bit over two years now. First year I got an 8% raise in total comp, second year I got a 9% raise in total comp. I'm expecting this year to be 15% as I'm gunning for a promotion as well. Depends where you work, broseph. I agree it depends on where you work, but in my situation, I've more than tripled my income thanks to certs and demanding raises instead of just doing nothing an expecting a raise. --- https://imgur.com/ByKGlJb https://imgur.com/nZdaA8D https://imgur.com/VBLBILg <cite>CableZL posted [p:904117200] in Tax cut we... [t:76757968]...</cite> <quote><cite>FLUFFYGERM posted...</cite> <quote>I've been at my current job for a bit over two years now. First year I got an 8% raise in total comp, second year I got a 9% raise in total comp. I'm expecting this year to be 15% as I'm gunning for a promotion as well. Depends where you work, broseph. </quote> I agree it depends on where you work, but in my situation, I've more than tripled my income thanks to certs and demanding raises instead of just doing nothing an expecting a raise.</quote> ... Copied to Clipboard!
FLUFFYGERM 06/28/18 9:32:01 AM #38:	CableZL posted... FLUFFYGERM posted... I've been at my current job for a bit over two years now. First year I got an 8% raise in total comp, second year I got a 9% raise in total comp. I'm expecting this year to be 15% as I'm gunning for a promotion as well. Depends where you work, broseph. I agree it depends on where you work, but in my situation, I've more than tripled my income thanks to certs and demanding raises instead of just doing nothing an expecting a raise. Yeah, you've gotta be intentional about letting your manager know what your accomplishments are, what your goals are, etc. They aren't going to keep track of all of that unless you work at a small company where a manager has just a few direct reports. Once you get to bigger companies, it doesn't scale for a manager to track someone that closely. So you'll have to track your own performance and make sure it lines up with what your manager is being told. If I didn't get a good raise at my current job each year, I'd just go down the street and find a new job that pays more tbqh. So for now the job market is treating me really well. --- Do good. Eat communists. <cite>FLUFFYGERM posted [p:904117274] in Tax cut we... [t:76757968]...</cite> <quote><cite>CableZL posted...</cite> <quote><cite>FLUFFYGERM posted...</cite> <quote>I've been at my current job for a bit over two years now. First year I got an 8% raise in total comp, second year I got a 9% raise in total comp. I'm expecting this year to be 15% as I'm gunning for a promotion as well. Depends where you work, broseph. </quote> I agree it depends on where you work, but in my situation, I've more than tripled my income thanks to certs and demanding raises instead of just doing nothing an expecting a raise.</quote> Yeah, you've gotta be intentional about letting your manager know what your accomplishments are, what your goals are, etc. They aren't going to keep track of all of that unless you work at a small company where a manager has just a few direct reports. Once you get to bigger companies, it doesn't scale for a manager to track someone that closely. So you'll have to track your own performance and make sure it lines up with what your manager is being told. If I didn't get a good raise at my current job each year, I'd just go down the street and find a new job that pays more tbqh. So for now the job market is treating me really well.</quote> ... Copied to Clipboard!
Darkman124 06/28/18 9:37:40 AM #39:	CableZL posted... FLUFFYGERM posted... I've been at my current job for a bit over two years now. First year I got an 8% raise in total comp, second year I got a 9% raise in total comp. I'm expecting this year to be 15% as I'm gunning for a promotion as well. Depends where you work, broseph. I agree it depends on where you work, but in my situation, I've more than tripled my income thanks to certs and demanding raises instead of just doing nothing an expecting a raise. it also depends on your age and employment duration my first couple years at my employer i was seeing 10% raises each year, that petered off over time as i became part of a journeyman level of experience in my field. in most technical fields, there's an early weeding-out period much like the first year of college where those who can't really cut it lose their jobs or get stuck at the low end of the salary band. but using personal experience as a substitute for concrete statistical information to extrapolate broad societal trends is a logical fallacy, which proudclad knows (and does anyway). --- And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not. <cite>Darkman124 posted [p:904117457] in Tax cut we... [t:76757968]...</cite> <quote><cite>CableZL posted...</cite> <quote><cite>FLUFFYGERM posted...</cite> <quote>I've been at my current job for a bit over two years now. First year I got an 8% raise in total comp, second year I got a 9% raise in total comp. I'm expecting this year to be 15% as I'm gunning for a promotion as well. Depends where you work, broseph. </quote> I agree it depends on where you work, but in my situation, I've more than tripled my income thanks to certs and demanding raises instead of just doing nothing an expecting a raise.</quote> it also depends on your age and employment duration my first couple years at my employer i was seeing 10% raises each year, that petered off over time as i became part of a journeyman level of experience in my field. in most technical fields, there's an early weeding-out period much like the first year of college where those who can't really cut it lose their jobs or get stuck at the low end of the salary band. but using personal experience as a substitute for concrete statistical information to extrapolate broad societal trends is a logical fallacy, which proudclad knows (and does anyway).</quote> ... Copied to Clipboard!
FLUFFYGERM 06/28/18 9:39:28 AM #40:	Darkman124 posted... CableZL posted... FLUFFYGERM posted... I've been at my current job for a bit over two years now. First year I got an 8% raise in total comp, second year I got a 9% raise in total comp. I'm expecting this year to be 15% as I'm gunning for a promotion as well. Depends where you work, broseph. I agree it depends on where you work, but in my situation, I've more than tripled my income thanks to certs and demanding raises instead of just doing nothing an expecting a raise. it also depends on your age and employment duration my first couple years at my employer i was seeing 10% raises each year, that petered off over time as i became part of a journeyman level of experience in my field. in most technical fields, there's an early weeding-out period much like the first year of college where those who can't really cut it lose their jobs or get stuck at the low end of the salary band. The day I don't get my nice beefy raise is the day I switch jobs, either as a lateral move into a hot company or into a higher role at another company. I could land a senior position right now at other companies but I'm hoping to get promoted at my current company soon since I think it'd look hot on my resume. Although if it takes too long despite me already checking off all the boxes needed for a promotion, I'll just bite the bullet and get promoted by switching jobs lol. --- Do good. Eat communists. <cite>FLUFFYGERM posted [p:904117522] in Tax cut we... [t:76757968]...</cite> <quote><cite>Darkman124 posted...</cite> <quote><cite>CableZL posted...</cite> <quote><cite>FLUFFYGERM posted...</cite> <quote>I've been at my current job for a bit over two years now. First year I got an 8% raise in total comp, second year I got a 9% raise in total comp. I'm expecting this year to be 15% as I'm gunning for a promotion as well. Depends where you work, broseph. </quote> I agree it depends on where you work, but in my situation, I've more than tripled my income thanks to certs and demanding raises instead of just doing nothing an expecting a raise.</quote> it also depends on your age and employment duration my first couple years at my employer i was seeing 10% raises each year, that petered off over time as i became part of a journeyman level of experience in my field. in most technical fields, there's an early weeding-out period much like the first year of college where those who can't really cut it lose their jobs or get stuck at the low end of the salary band.</quote> The day I don't get my nice beefy raise is the day I switch jobs, either as a lateral move into a hot company or into a higher role at another company. I could land a senior position right now at other companies but I'm hoping to get promoted at my current company soon since I think it'd look hot on my resume. Although if it takes too long despite me already checking off all the boxes needed for a promotion, I'll just bite the bullet and get promoted by switching jobs lol.</quote> ... Copied to Clipboard!
FLUFFYGERM 06/28/18 9:40:19 AM #41:	Darkman124 posted... but using personal experience as a substitute for concrete statistical information to extrapolate broad societal trends is a logical fallacy, which proudclad knows (and does anyway). damn that's a pretty snide comment to sneak in there during an edit, dude, considering @CableZL offered his personal experience first and I was merely commenting on that. my first post in the topic had real data in it. you're still sore from getting spanked last time aren't you? --- Do good. Eat communists. <cite>FLUFFYGERM posted [p:904117565] in Tax cut we... [t:76757968]...</cite> <quote><cite>Darkman124 posted...</cite> <quote>but using personal experience as a substitute for concrete statistical information to extrapolate broad societal trends is a logical fallacy, which proudclad knows (and does anyway). </quote> damn that's a pretty snide comment to sneak in there during an edit, dude, considering @CableZL offered his personal experience first and I was merely commenting on that. my first post in the topic had real data in it. you're still sore from getting spanked last time aren't you?</quote> ... Copied to Clipboard!
SK8T3R215 06/28/18 9:54:30 AM #42:	itachi15243 posted... Actually, the unemployment is largely due to people leaving the labor force recently and jobs aren't being created at the rate they should and hiring is very sluggish. That along with wage increase also being very slow to rise could end up being an issue Labor force participation rate has been in the same range for a while now: https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm We also have more job openings than people looking for jobs in the first time since this data was tracked in 2001. https://www.bls.gov/charts/job-openings-and-labor-turnover/unemp-per-job-opening.htm# --- New York Knicks, New York Jets, New York Yankees. <cite>SK8T3R215 posted [p:904118219] in Tax cut we... [t:76757968]...</cite> <quote><quote><cite>itachi15243 posted...</cite> Actually, the unemployment is largely due to people leaving the labor force recently and jobs aren't being created at the rate they should and hiring is very sluggish. That along with wage increase also being very slow to rise could end up being an issue</quote> Labor force participation rate has been in the same range for a while now: https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm We also have more job openings than people looking for jobs in the first time since this data was tracked in 2001. https://www.bls.gov/charts/job-openings-and-labor-turnover/unemp-per-job-opening.htm#</quote> ... Copied to Clipboard!
kelemvor 06/28/18 9:58:04 AM #43:	Antifar posted... kelemvor posted... If not, most employees definitely have 401(k)s. They do not, at least not with any money in them In total, only 14% of companies had 401(k) plans for their employees in 2012, according to a January 2017 report from two U.S. Census Bureau researchers who reviewed all W-2 tax forms in the U.S., and those are mostly larger companies. Of those, only about a third of workers are contributing to those plans. Put another way only about 54 million American workers put money into a 401(k) plan in 2015, according to the Investment Company Institute, while 150 million were employed in that year, according to the Bureau of Labor Statistics). I'm curious TC. It's almost 10 o'clock ET on a Thursday. Do you even have a full time job? Maybe you do and live on the west coast? I work retail and even I have a 401k. In fact, I borrowed against it to buy a house somewhat recently <cite>kelemvor posted [p:904118364] in Tax cut we... [t:76757968]...</cite> <quote><cite>Antifar posted...</cite> <quote><cite>kelemvor posted...</cite> <quote>If not, most employees definitely have 401(k)s. </quote> They do not, at least not with any money in them <quote>In total, only 14% of companies had 401(k) plans for their employees in 2012, according to a January 2017 report from two U.S. Census Bureau researchers who reviewed all W-2 tax forms in the U.S., and those are mostly larger companies. Of those, only about a third of workers are contributing to those plans. Put another way only about 54 million American workers put money into a 401(k) plan in 2015, according to the Investment Company Institute, while 150 million were employed in that year, according to the Bureau of Labor Statistics).</quote></quote> I'm curious TC. It's almost 10 o'clock ET on a Thursday. Do you even have a full time job? Maybe you do and live on the west coast? I work retail and even I have a 401k. In fact, I borrowed against it to buy a house somewhat recently</quote> ... Copied to Clipboard!
voldothegr8 06/28/18 10:00:12 AM #44:	@shockthemonkey posted... voldothegr8 posted... Unemployment is the lowest it has been in 18 years which matches the lowest it has been since the 60's. Jobs are plentiful again and there aren't long lines in the application pools these days, in other words far less competition for jobs which means better chance of getting hired. I'm sure some execs are treating themselves as they tend to no matter the economic landscape, but it's disingenuous at best to imply the tax cuts haven't stimulated job growth. Companies aren't being taxed to death anymore and ARE hiring more as a result. FLUFFYGERM posted... According to government data, there has been an increase in weekly/hourly wages from May 2017 to May 2018. https://www.bls.gov/news.release/empsit.t24.htm Would like to see the wages go up faster and harder, but these things take time. You can't force someone's labor to be worth more than it really is. Economy has to grow and there has to be competition for employees if you want higher wages. https://www.economist.com/united-states/2017/11/14/blue-collar-wages-are-surging.-can-it-last https://www.nytimes.com/2018/01/05/business/economy/jobs-report.html SK8T3R215 posted... Labor force participation rate has been in the same range for a while now: https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm We also have more job openings than people looking for jobs in the first time since this data was tracked in 2001. https://www.bls.gov/charts/job-openings-and-labor-turnover/unemp-per-job-opening.htm# --- Oda break tracker 2018- 3 (2) \| THE Ohio State: 11-2 \| Oakland Raiders: 6-10 Super Mario Maker Profile: 1237-0000-0073-02FE <cite>voldothegr8 posted [p:904118472] in Tax cut we... [t:76757968]...</cite> <quote><cite>@shockthemonkey posted...</cite> <quote><cite>voldothegr8 posted...</cite> <quote>Unemployment is the lowest it has been in 18 years which matches the lowest it has been since the 60's. Jobs are plentiful again and there aren't long lines in the application pools these days, in other words far less competition for jobs which means better chance of getting hired. I'm sure some execs are treating themselves as they tend to no matter the economic landscape, but it's disingenuous at best to imply the tax cuts haven't stimulated job growth. Companies aren't being taxed to death anymore and ARE hiring more as a result.</quote> </quote> <cite>FLUFFYGERM posted...</cite> <quote>According to government data, there has been an increase in weekly/hourly wages from May 2017 to May 2018. https://www.bls.gov/news.release/empsit.t24.htm Would like to see the wages go up faster and harder, but these things take time. You can't force someone's labor to be worth more than it really is. Economy has to grow and there has to be competition for employees if you want higher wages. https://www.economist.com/united-states/2017/11/14/blue-collar-wages-are-surging.-can-it-last https://www.nytimes.com/2018/01/05/business/economy/jobs-report.html</quote> <cite>SK8T3R215 posted...</cite> <quote>Labor force participation rate has been in the same range for a while now: https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm We also have more job openings than people looking for jobs in the first time since this data was tracked in 2001. https://www.bls.gov/charts/job-openings-and-labor-turnover/unemp-per-job-opening.htm#</quote></quote> ... Copied to Clipboard!
Esrac 06/28/18 10:08:27 AM #45:	Not really surprising. Businesses don't really have a lot of motivation to increase worker salaries unless they're afraid those (skilled) workers might leave to work for someone else. Most people, I imagine, are some kind of unskilled worker because they can't acquire the education or training for one reason or another. So, their wages probably aren't going up. I'm in the unskilled camp and my employer only gives pay raises of about 1 - 1.5% a year. Which is nothing when you're only making $9 - 11 an hour. Part of the reason I decided to enlist in the Navy. Though I don't know how valuable my rating skills will be if I get out after 4 years. --- http://steamcommunity.com/id/Esrac/wishlist/ <cite>Esrac posted [p:904118853] in Tax cut we... [t:76757968]...</cite> <quote>Not really surprising. Businesses don't really have a lot of motivation to increase worker salaries unless they're afraid those (skilled) workers might leave to work for someone else. Most people, I imagine, are some kind of unskilled worker because they can't acquire the education or training for one reason or another. So, their wages probably aren't going up. I'm in the unskilled camp and my employer only gives pay raises of about 1 - 1.5% a year. Which is nothing when you're only making $9 - 11 an hour. Part of the reason I decided to enlist in the Navy. Though I don't know how valuable my rating skills will be if I get out after 4 years.</quote> ... Copied to Clipboard!
KamenRiderBlade 06/28/18 10:13:22 AM #46:	Employers will NEVER raise wages unless they risk losing talent or can't hire appropriate talent. That's the way it is. The sooner you realize that, the sooner you'll understand how Employers work. --- Are you a MexiCAN or a MexiCAN'T - Johnny Depp '*Once Upon A Time in Mexico*' <cite>KamenRiderBlade posted [p:904119088] in Tax cut we... [t:76757968]...</cite> <quote>Employers will NEVER raise wages unless they risk losing talent or can't hire appropriate talent. That's the way it is. The sooner you realize that, the sooner you'll understand how Employers work.</quote> ... Copied to Clipboard!
LightHawKnight 06/28/18 10:19:05 AM #47:	Shocking. So utterly shocking. --- The Official Odin of the Shin Megami Tensei IV board. "You know how confusing the whole good-evil concept is for me." <cite>LightHawKnight posted [p:904119346] in Tax cut we... [t:76757968]...</cite> <quote>Shocking. So utterly shocking.</quote> ... Copied to Clipboard!
Darkman124 06/28/18 10:27:53 AM #48:	kelemvor posted... I'm curious TC. It's almost 10 o'clock ET on a Thursday. Do you even have a full time job? Maybe you do and live on the west coast? I work retail and even I have a 401k. In fact, I borrowed against it to buy a house somewhat recently don't change the subject KamenRiderBlade posted... Employers will NEVER raise wages unless they risk losing talent or can't hire appropriate talent. That's the way it is. The sooner you realize that, the sooner you'll understand how Employers work. the lesson is to have zero loyalty to your employer and change jobs anytime you get an offer that is a significant raise --- And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not. <cite>Darkman124 posted [p:904119735] in Tax cut we... [t:76757968]...</cite> <quote><cite>kelemvor posted...</cite> <quote>I'm curious TC. It's almost 10 o'clock ET on a Thursday. Do you even have a full time job? Maybe you do and live on the west coast? I work retail and even I have a 401k. In fact, I borrowed against it to buy a house somewhat recently </quote> don't change the subject <cite>KamenRiderBlade posted...</cite> <quote>Employers will NEVER raise wages unless they risk losing talent or can't hire appropriate talent. That's the way it is. The sooner you realize that, the sooner you'll understand how Employers work.</quote> the lesson is to have zero loyalty to your employer and change jobs anytime you get an offer that is a significant raise</quote> ... Copied to Clipboard!
FLUFFYGERM 06/28/18 10:30:14 AM #49:	@Darkman124 you ignored my posts and changed the subject broseph. --- Do good. Eat communists. <cite>FLUFFYGERM posted [p:904119833] in Tax cut we... [t:76757968]...</cite> <quote>@Darkman124 you ignored my posts and changed the subject broseph.</quote> ... Copied to Clipboard!
Esrac 06/28/18 10:31:06 AM #50:	KamenRiderBlade posted... Employers will NEVER raise wages unless they risk losing talent or can't hire appropriate talent. That's the way it is. The sooner you realize that, the sooner you'll understand how Employers work. I know I'm in the lowly unskilled labor pool right now, but my employer, for example, does basically refuse to raise wages in general. The starting wage in my department is $9 an hour and has been for years. The average raise per year is about 1%, so about as close to nothing without actually being nothing. Even though my department is constantly shorthanded because no one wants to drive out to this casino in bumfuck small town Louisiana to work a 10 hour shift for $9 an hour. They offer a 401K program, but they only contribute $0.25 for every $1 the employee contributes, up to 6% of the employee's wage. --- http://steamcommunity.com/id/Esrac/wishlist/ <cite>Esrac posted [p:904119861] in Tax cut we... [t:76757968]...</cite> <quote><cite>KamenRiderBlade posted...</cite> <quote>Employers will NEVER raise wages unless they risk losing talent or can't hire appropriate talent. That's the way it is. The sooner you realize that, the sooner you'll understand how Employers work.</quote> I know I'm in the lowly unskilled labor pool right now, but my employer, for example, does basically refuse to raise wages in general. The starting wage in my department is $9 an hour and has been for years. The average raise per year is about 1%, so about as close to nothing without actually being nothing. Even though my department is constantly shorthanded because no one wants to drive out to this casino in bumfuck small town Louisiana to work a 10 hour shift for $9 an hour. They offer a 401K program, but they only contribute $0.25 for every $1 the employee contributes, up to 6% of the employee's wage.</quote> ... Copied to Clipboard!
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Current Events > Tax cut went towards stock buybacks, not wages (+) Yeah! (+)

Current Events > Tax cut went towards stock buybacks, not wages