Tax Reform Boosts Wages Big League Overnight – Liberals Complain It’s Not Enough

Watching liberal pundits try to argue against what’s objectively a phenomenal tax plan for middle America and American industry truly has been fun the past couple of days.

All of a sudden, the same talking heads who think that birth control needs to be free because women apparently can’t afford $12 a month are on television arguing that a tax plan which puts an extra grand in the pockets of the average family is no big deal.

MSNBC’s Joy Reid for instance argued that, and you can’t make this up, it doesn’t matter if the middle class does better because rich people will do even more better! In response to the news that AT&T would be giving all their workers a $1,000 bonus following the passage of tax reform, she tweeted the following in a bizarre rant:

Do you think there’s a single employee out there who would refuse a $1,000 bonus because his boss got a $10,000 one? Of course not. It’s reminiscent of an old Margaret Thatcher quote “So long as the gap is smaller, they [the socialists] would rather have the poor poorer.” Oh – and the Kurt Eichenwald individual she mentioned sold all his stocks ahead of the election in the event of a Trump Presidency.

What a brain-trust those two make. By the way, the only reason the majority of the bill’s benefits go towards higher earners is because, shocker, they pay most taxes. Proportionately speaking, it’s lower earners who benefit more!

Anyway, it’s clear that tax reform is going to be boosting worker paychecks in the form of higher wages (which they’ll also get to keep more of), and AT&T is the hardly firm to come out and publicly do so. According to CNBC:

• Both Fifth Third Bancorp and Wells Fargo followed, saying they would raise their minimum wage to $15 an hour. Fifth Third said it would also give workers a bonus, and Wells Fargo said it would give $400 million to community and nonprofit organizations next year.
• Comcast, which owns CNBC parent NBCUniversal, said it would pay 100,000 frontline and non-executive employees special $1,000 bonuses. The company also said it is making the move because of the FCC’s recent change in broadband rules and tax reform. It also said it plans to spend well in excess of $50 billion over the next five years on infrastructure improvements.
• Boeing also announced $300 million in employee-related spending and charitable donations. FedEx, when it announced earnings, said it expects U.S. GDP could increase materially next year as a result of tax reform. FedEx announced that the company will ramp up hiring in response to the tax bill.

What’s a liberal to do in the light of all this good news?