Tax Reform and You

Qhue said:

Trump’s Tax Cuts in Hand, Companies Spend More on Themselves Than on Wages

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My own company has indicated that it will not use its tax savings for any new investment or worker raises. In asking around to friends and family no one I know is getting a higher salary or even a bonus, though I have seen the reports online of some companies offering a 1 time bonus payout.

How about the rest of you? Are you seeing any substantial dividends from this 'once-in-a-generation' tax reform?

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$1400 Trump Bux added to my annual bonus. Extra $74 per paycheck. I know all hourly folks at Comcast got $1000+ bonus.

The idea that companies would pay out employees because they got a tax bump is preposterous. That several companies actually paid one was a massive surprise to, I'm sure, most people.

If you're a company, and you're currently paying your employees a certain wage and they're happy with it, why would you suddenly start paying them more for no reason? It's the same reason that current employees get shittier raises than new hires (put another way, why you'll almost always get a higher pay bump by jumping between companies).

I work part-time on the weekends mostly for mad-money and to get out of the house. The company I work for gave bonuses up to $1000 to employees. No one at our store qualified for that. You had to work for the company 20 years. One guy who was there for 16 years got $750 and I received right around $100 after 3 years. No one got a raise. Better than nothing but I think they only did it because their competition made headlines announcing bonuses a few weeks before.

Gravel said:

If you're a company, and you're currently paying your employees a certain wage and they're happy with it, why would you suddenly start paying them more for no reason? It's the same reason that current employees get shittier raises than new hires (put another way, why you'll almost always get a higher pay bump by jumping between companies).

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Wage pressure is rising, though. Eventually they're going to pay out or lose good employees.

EDIT: FWIW, wife and I work at the same company. She's an engineer, got a 2k raise. My situation is a little different and has nothing to do with taxes, but I'm expecting at least a 20k raise this year that's contingent on a few things. Company has a 2020 goal of rolling out a comprehensive bonus package to all employees. Privately owned.