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Only 17 companies have ‘showered their workers with bonuses’ thanks to Trump’s tax overhaul

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President Donald Trump celebrated the Republican tax cut bill on Twitter, claiming that companies giving one-time bonuses because of the legislation. President Donald Trump has been celebrating the Republican tax bill since its passage last month, claiming that companies are “showering their workers with bonuses” thanks to the tax overhaul.

An analysis by CNN found that only 16 companies in the S&P 500 responded to the tax overall by raising wages, handing out bonuses, or improving benefits. That number rose by one late Tuesday afternoon after Southwest Airlines announced a $1,000 cash bonus.

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“It’s good marketing, but you don’t have a trend yet. It’s premature at this point,” said William Klepper, a management professor at Columbia Business School.

CNN noted Wells Fargo is spending only 5 percent of the company’s total tax savings on a wage hike and additional charitable giving.

“It’s a token compared with what companies are actually saving,” explained Jeffrey Sonnenfeld, senior associate dean at the Yale School of Management. “Where is the rest of the money going?”

Helaine Olen, a Washington Post contributor, explained why such pronouncements by a tiny fraction of companies should not be viewed as signs of a permanently changed economy.

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“But bonuses are, by definition, an irregular, voluntary, often one-time event. They are not a firm commitment to better pay. A company can give them once and never give them again,” Olen explained.

“So why did companies make announcements timed to the tax bill?” Olen asked. “This is very likely a strategy to curry favor with a thin-skinned president known to like flattery. If so, it’s working.”


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Pulitzer Prize-winner reveals why the White House thinks Trump’s Ukraine scandal ‘can be spun as positive’

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Despite the growing movement for impeachment, advisors to President Donald Trump believe the bombshell reports about soliciting foreign election interference from Ukraine can be "spun as a positive" for the president's 2020 re-election campaign.

Ashley Parker, a White House reporter for The Washington Post, was interviewed about the thinking of Trump's advisors by MSNBC's Steve Kornacki on Monday.

"This is a White House, a Trump White House, that is used to being under siege. There was of course the two-and-a-half-year saga with the Mueller investigation culminating in the Mueller report, Mueller’s testimony recently. There have been a million other controversies, flare-ups, moments when the White House was forced to defend a comment from the president, allegation against the president, these sorts of things," Kornacki noted.

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Pelosi may start ‘Select Panel’ for Trump impeachment after latest Ukraine bombshells: report

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As the movement in Congress to impeach President Donald Trump continues to grow, Speaker Nancy Pelosi (D-CA) is considering starting a select committee to focus the investigations into President Donald Trump.

"As House Democrats find themselves once more navigating the tricky politics of impeachment, a new idea is being floated by several members: creating a select panel of members that would handle those responsibilities," The Daily Beast reported Monday evening. "A senior Democratic aide tells The Daily Beast that the idea of a select panel has 'been raised by some members' as a way to consolidate impeachment proceedings around Donald Trump."

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Latest Democrat to back impeachment did so live on MSNBC: ‘We have no choice’

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Yet another Democrat is backing impeachment following the latest revelations that Donald Trump allegedly solicited foreign election interference from Ukraine in return for military aid.

The movement for impeachment grew significantly on Monday.

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