Piggybacking off Guy’s post earlier yesterday, Home Depot decided to give their employees a $1,000 bonus, thanks to the new tax bill President Trump signed into law. So far, over three million workers have received bonuses. Over 250 companies have agreed to hand them out, citing the bill’s economic impacts. The largest has to be Apple’s repatriation of $250 billion in overseas cash, along with their $350 billion investment over the next five years that will create 20,000 jobs with it. Other companies have also signaled employee investment and an increase in donations to charitable causes. The middle and working class are benefitting from this, but House Minority Leader Nancy Pelosi (D-CA) and Rep. Debbie Wasserman Schultz (D-FL) don’t seem to understand.
“Frankly, if you look at the bonuses, which I haven’t heard of a corporate bonus more than $1,000 so far. Which by the way is taxed, so it’s not $1,000. And then you spread $1,000 over the course of the year – to think of about how much that is – of course they get it all at once. But I’m not sure that $1,000 (which is taxed, taxable) goes very for almost anyone,” said Wassermann Schultz. Yeah, this coming from a woman who was appalled that the House GOP did not extend the payroll taxcuts that would have added an additional $40 to workers.
"Tweet what #40Dollars means to you," she tweeted in 2011. Now, $1,000 is nothing. Yes, life comes at you fast.
I found it.— Michael Shapiro (@mis2127) January 25, 2018
I found possibly the greatest life comes at you fast ever. pic.twitter.com/IBuPfwTlGy
Keep in mind, some companies are giving out bonuses in that amount; it varies. And some are doling out up to $3,000 in bonuses to their workers. Pelosi also repeated the line that these bonuses were crumbs.
Okay—do Democrats know that over half of all Americans have less than $1,000 in savings. This is a big deal to a lot of people, unless you're a limousine liberal like Pelosi (via CNBC)?
If your savings account balance is hovering at or below $1,000, you're not alone.
According to a 2017 GOBankingRates survey, more than half of Americans (57 percent) have less than $1,000 in their savings accounts.
While that's an improvement from last year, when 69 percent of Americans reported having less than $1,000 in savings, a higher percentage have no savings at all: 39 percent, up from 34 percent in 2016.
This is a lot of money for these families. It’s a few grocery bills, electric bills, gas bills, etc., so maybe they know and they’re just downplaying, or they’re legitimately aloof concerning the everyday lives of the people they claim to champion. I can see how the bubble mentality can take hold here; Democrats really have no one representing Middle America, where these bonuses will do the most good. Josh Jordan tweeted last December that even an extra $18/ week goes a long way for working class families:
I'd be careful mocking an $18/week tax cut for working families. That $18/week could be a swimming lesson, an afternoon at the movies, school supplies, or an every-other-week dinner out for the family. What might seem little to you might feel like a bonus to many others.— Josh Jordan (@NumbersMuncher) December 21, 2017
First off - a half a person is going to have a hard time doing swimming lessons or going out to eat.— Josh Jordan (@NumbersMuncher) December 21, 2017
Second - I'm glad you think $36 can't even feed one person.
Glad to see you're not at all out of touch. https://t.co/GqIYtSkTTB
Fast food absolutely can be a "dinner out" for families - *especially* with kids. Or going out for pizza. Or going to Chuck-E-Cheese so the kids can play.— Josh Jordan (@NumbersMuncher) December 21, 2017
But yeah- keep mocking the idea that some families view that as going out. That's how I grew up and I thought it was great. https://t.co/fPLuwZGFmI
Is $1,000 being crumbs really going to be the rallying cry, as this tax bill becomes more popular? You betted against the American worker, you put the middle class in the crosshairs, and you voted against a better job-creating climate all because you wanted to see Trump fail. And now, you’re going to bitch that the bonuses companies are giving their workers because of the better economic climate, a climate you voted against, are too small. Children, you lost. And I have a feeling you’re going to continue to get kicked in the teeth for opposing this tax bill.