Electric Utility Wants to Cut Rates - More Tax Overhaul Benefits

No, that's not how reality works. You need to come up with an explanation for why the tax cuts were what led to these higher wages. Otherwise you might as well assume that my choice in breakfast cereal led to the increase in wages; and that they would have been larger without the tax cuts.

And you are protesting waaaay too much. Short term, everything is unicorn farts and lollipops. Some of us are worried about the impact down the road. We all like instant gratification, but some of us do worry about what happens in the long term. Of course, if people would read the fine print on the Devil's contracts he would quickly go out of business, but today's crop of politicians shows just how many people can't be bothered.

Of course, the raises and bonuses were more on the order of "lovely parting gifts" for employees at 63 Sam's Club Stores. But, I thought tax cuts were going to keep that sort of thing from happening...

Jeff Bezos is forcing Walmart's hand, not the tax cuts.

Tax cuts are the cure for everything. Apostate!

Aaaah, so SOME things are NOT caused by the tax cuts. You just have to figure out which ones fit the narrative.

I must say, this is one of the most entertaining threads we've had in while, given that all sides are using the exact same arguments against each other without seeming to realize it.

Or you could pay attention to the retail revolution that is happening right now.

You mean there are nuances, pesky details and things other than what appears on the surface going on in the economy? Whoda thunk it?

Don't know if you noticed, but I'm agreeing with you. Just pointing out why the 'no-spin' claims upthread are bullshit.

For years we heard from leftie economists about the new reality where 2% GDP growth is all we should expect in the US - 'secular stagnation' in leftie-eco-speak.

We seem to be looking past that convenient and distorted view of reality to stronger growth. The tax cuts will be a big part of keeping the strong economic growth going. We're still seeing the seeds daily. But leftie spin is entertaining, particularly when typed by contortionists like Packy.

Yes, and we will accomplish stronger growth by completely disregarding the lower classes, wealth inequality, and the environment. All of the gains will go to the 1% as they have for all of this century so far.

Is that your definition of economic success?

Of course, they deserve it!

That's just one opinion, and a wrong one, imo.

Obviously it's not an opinion that I think has any merit or basis in fact.

A picture sounds about right for the case you present.
Eight years under Obama liberal ideology and leftie economic policies COMPLETELY failed to improve wage-rates or materially improve lives of any of the people you blow horns and make big - and ultimately empty- noises about wanting to help.

Common sense and economic theory both suggest pro-growth policies - like the ones now being tried by GOP - will make EVERYONE better off (including the poor and the have-nots). And now we’re already seeing some benefits accrue to the working class and the bottom-earners in the US economy. Time will almost certainly show greater improvements in the lives of the 'bottom 99' than during Obama’s eight years of get-them-aid-not-jobs liberalism.

You don’t realize the irony of how appropriate the head-in-sand pic reflects your misplaced, blind, repetition of the same old tired class-warrior Pelosi-like crap.

These are all transparent lies. Are you @gturner?

^Sure, Red. Your credibility's thinner than an anorexic model's waistline.



https://tradingeconomics.com/united-states/wage-growth

Forgive me if I chuckle - there was a time when lefties argued that the new reality was that US could only achieve the same sub-2% growth rate so popular in euroland (matching Germany's sclerotic long-term growth rate) - that probably in large part due to pro-growth policies the US will beat the last 3 consecutive quarters in 2017, being at 3% growth. I'll take it!

@Tuttle

We had, at best, two years of what Tuttle calls "leftie policies" under Obama. After he lost Congress in 2010, that was the end.

And your chart about wage growth --

As we can see, the long-term downward trend started in the late 1970s. That was about the same time America made a hard turn to the right and starting embracing Reaganomics, which Bush Jr doubled down on, and Donnie is now tripling down on.

But I suppose in your fantasy world, wage growth depression happened despite Republican voodoo economics, not because of it, hey?

^ You apparently didn't read the chart.

During the Reagan years it pretty clearly shows wage growth between 5-10% range.
In contrast to Bush & Obama years: 1-5 % range (i.e. barely exceeds inflation, when it did at all). Outside of your information circles, the fact that Obama did nothing to help the lower classes and wage growth is quite well known and accepted, albeit blamed on insurmountable structural changes i.e. 'globalization.'

And if Obama's policies weren't so counterproductive to growth, then why did simply rolling them back coincide so predictably with the superlative 3 per cent that was "no longer possible for US growth rates due to secular stagnation" in the very short time since deconstruction of Obama-regulatory-era has been implemented?

If we don't see 4Q growth of 3 per cent again (after 2nd and 3rd Qs) I'll rethink my current thesis. But don't hold your breath on negativity, you're bound to fail faster than liberal policies.

can't say about the power companies specifically BUT...

The private companies are giving "bonuses" and so forth at a rate of basically 1% of their anticipated profit. It is for all practical purposes a pittance invested in public relations

Why aren't you supporting the economic policies of the 1960s and 1970s?

https://www.bloomberg.com/amp/view/...e-real-reason-walmart-raised-its-minimum-wage

Bloomberg has some interesting and slightly scary things to say on this topic.

https://thinkprogress.org/att-praises-tax-bill-c4bab31e1067/

Also when you dig in to these bonuses all of it becomes a lot more complicated than the "it's because of the tax cut" claim. AT&T's CEO claimed a $1000 bonus was due to the tax cut then it turned out he had a showdown with the labor union late last year where he had to agree to this bonus in order to avoid a strike.

So is the tax cut for businesses responsible for a concession labor unions got before the tax bill was even written? That seems doubtful.

What policies were those, exactly?

The ones that took the US from - 6 to + 5 on the graph you provided but can't read?

yesterday was simply public service so leftforge can't claim ignorance. do what you will with your washed out 'brains', no sweat; call every benefit you see "crumbs" you'll be in appropriate company. : (