Liberal pundits and Democrat office holders spent most of the year warning that death and mayhem were the inevitable, immediate outcome to expect from any GOP tax cut bill. So when multiple large corporations announced new bonuses and increases in their starting minimum wages Wednesday, the spin shop did its thing – in this case, attempting to convince Americans that what they’re witnessing isn’t really what they’re witnessing.
Two of our favorites, Joy Reid and Kurt Eichenwald, led the pack.
Corporate PR offices are hard at work, having demanded this exorbitant tax cut from Republicans. Watch for lots of Christmas bonuses and charitable donations (which of course they're doing before the bill guts the charitable deduction) and missives to reporters about the above.
— Joy Reid (@JoyAnnReid) December 21, 2017
This is corporate America trying to convince you that their naked greed is charity; that their gluttony is kindness, and that they didn't demand this $1.5 trillion wealth transfer that you, sick kids and seniors are footing the bill for.
— Joy Reid (@JoyAnnReid) December 21, 2017
In Joy’s mind, all of these bonuses and wage hikes are smoke and mirrors and you cannot believe your own eyes. Sure, they may be bonuses of actual, real currency, but the big, eeevil corporations are really just trying to give employees a little hush money in hopes they’ll overlook the CEO’s tax cut.
Joy’s employer, Comcast, is giving $1,000 bonuses to “eligible frontline and non-executive employees.” If Joy is one of those eligible, she’s not saying whether she will take the lucre, or if she’d guilt any subordinates who take it. Is Joy also opposed to the infrastructure investments Comcast says they’ll make – or is she simply contending it’s fake news?
JUST IN: Comcast to give $1,000 bonuses to more than 100K "eligible frontline and non-executive employees" & invest $50 billion over the next five years in infrastructure "based on the passage of tax reform". https://t.co/jn8limUSe7
(Disclosure: Comcast is parent co. of CNBC)
— CNBC Now (@CNBCnow) December 20, 2017
(P.S., Joy, Kira says hi. She can’t get in touch with you anymore!)
After pooh-poohing the Tax Policy Center’s prediction that the average amount of the GOP tax cut for the middle-fifth of wage earners will be $18/week, and after seeing that by midday Wednesday the streets were not littered with the bodies of the GOP Tax Scam victims, Kurt Eichenwald promised that the impact will still come, and only the enlightened will know why.
When the impact of the tax bill comes, the GOPrs will have no idea why it happened and will find some way to blame democrats.
Just like they didn't understand the impact of 1998 Glass Steagal repeal and 2002-2007 interest rates on 2008 economic collapse.
— Kurt Eichenwald (@kurteichenwald) December 20, 2017
But then Wells Fargo (among other companies) announced it was raising its minimum salary range. Oh, no. Quick, Kurt, find a way to discount that!
So, with only 25,000 people in the RANGE of $13.50-$17.00, and Wells Fargo ONLY increasing the $13.50-$14.99 workers, how many benefit? At MAXIMUM, this translates to an average of 25 cents an hour within the range.
— Kurt Eichenwald (@kurteichenwald) December 20, 2017
By evening, Kurt was back beating the “Glass Steagall caused the recession” drum, forgetting that Bill Clinton signed the repeal, and completely ignoring the subprime mortgage fiasco (because mandating that people who can’t afford a mortgage be given one out or fairness always works out so well), then adding some other hullabaloo and a scary prediction!
When glass steagal killed in ‘98, I predicted a major economic collapse w/ massive bank failures in 15 years. Senator Byron Dorgan predicted 10 years. He nailed it almost to the day.
With this tax law, I predict a major collapse within 10 years. I fear what Dorgan would predict.
— Kurt Eichenwald (@kurteichenwald) December 21, 2017
Shades of Nostradamus right there, people.
Watching Eichenwald’s Savannah Guthrie-level economic skills at work reminds me of that great airplane mechanic, Fletch.
It’s all ball bearings, these days. Prep that with some 3-in-1 oil and some gauze, why dont’cha?
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