Thread regarding Lowe's Cos. layoffs

Let's not forget tax law lowered Lowes tax rate from 35% to 21%

https://www.theguardian.com/us-news/2019/apr/30/trump-tax-cut-law-investigation-worker-benefits

While corporate pretends Rome is burning, they now are benefiting from a corporate tax law that was lowered substantially. Just read an article that stated that only 6% of these new savings is going to the workforce while the rest, not surprisingly, is going to shareholders and stock buy backs. Sound familiar to anyone else?!

As soon as the law was passed I nearly screamed from the roof top that there was a massive flaw in the thinking that corporate tax savings would EVER go to actually stimulating the economy and the lives of the working class. Nothing was preventing corporations from simply just pocketing the savings! This is why every corporation in lockstep with each other, almost like every CEO in america discussed this, offered ONE TIME 1,000 dollar bonuses to full time workers. They NEEDED the working class to WANT the law to be passed! They KNEW in the long run they'd make billions off the savings!

The law should have been written as such: if you refuse to put the savings into your company then youre taxed at 35%. However, if you can prove you're putting that savings into your workers wages, equipment upgrades etc. (things that directly benefit your workforce and the overall working class economy) then your tax rate is 21%. This would have prevented them from just giving that money over to the ultra wealthy.

So just remember as positions are eliminated and hours cut, cut, CUT .....Lowes is paying 21% this year and not 35% like they have in previous years!

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Post ID: @OP+YP3TDYe

4 replies (most recent on top)

Be careful when you mention the word Trump. His cult followers are very emotional and get triggered easily if you say he is anything less than perfect. I am sure in their undeveloped minds, this corporate tax break was somehow a very positive thing. Haha

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you should take some economics and financial planning courses. Listen to your Democrat’s they will raise the tax on wealthy “individuals” making over ____[ fill in the blank) the key word is individuals. People like politicians, celebrities, CEO’s don’t usually get paid as individuals. They are paid as corporations. They know the types with the lowest tax brackets. So when you hear any politician say we are raising taxes on the 1%, that’s just the s---ers that were too stupid to hire a good tax planning accountant. When I left Lowe’s, I got hired in a very wealthy mostly democrat city. I’ve been in the meetings. They tell their wealthy friends Trumps tax plan will k--l them. They can only write off $10k in state and local taxes now. Before they wrote off every family trip, phone, cars, rides on private jets and got a deduction. I saw they changed the withholding, I adjusted and brought home more than I made at Lowe’s. But I made less money, then I got over $2k more in a tax refund than I ever did at Lowe’s. (I only worked a few months last year).

It’s not about politics it’s about learning how what ever party in control caters to their friends.

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Post ID: @1xsz+YP3TDYe

has less to do with trump and more to do with the overall failures of government always caving to Big Industries. doesnt matter who is in office..these things always end up favoring those with the deepest pockets. the legislation could have been very positive. on the surface lowering corporate taxes is a great thing and makes us much more competitive on the world stage and gives companies greater flexibility with what to do with their earnings, but the titans of industry no longer want to build empires, they want to loot coffers. would have taken basically one provision and the lowering of these taxes would have been amazing for the little guy. Given that trump himself has always been in the service industry (and on the private side of things), his businesses actually need a robust economy to be successful. the better the economy does, the more disposable income people have, the more likely his own businesses do better. CEO's engaging in stock buybacks and giving more to shareholders does nothing to benefit the hospitality industry!

the point of this reminder is that taxes have been substantially lowered for corporations....this should be remembered with every move they make...especially those that put more money in the hands of millionaires and billionaires while all the while saying they need to do more to cut labor cost.

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Post ID: @1lkw+YP3TDYe

Be careful when you mention the word Trump. His cult followers are very emotional and get triggered easily if you say he is anything less than perfect. I am sure in their undeveloped minds, this corporate tax break was somehow a very positive thing. Haha

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Post ID: @1tci+YP3TDYe

Rome (Lowes) is buring - to the ground - all while Nero (Marvin) dances, sings, and acts like knows what the hell is going on.

Or to look at it another way...

Marvin is hitler, the managers are his loyal troops, we are all Jewish people, and Vegas is Nuremberg.

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Post ID: @1cjo+YP3TDYe

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