>>THE GOP TAX BILL IS GOING TO HAPPEN, IT'S APPARENTLY GOING TO
BE SIGNED SOMETIME TOMORROW, AND IT WILL END UP THROWING ABOUT
$1.5 TRILLION AT CORPORATIONS AND THE TOP 1%, AND THE REASON
WE ARE SUPPOSED TO FIND THIS EVEN REMOTELY ACCEPTABLE IS THAT
THE CORPORATIONS ARE GOING TO TAKE THAT MONEY AND THEN THEY
ARE GOING TO PRODUCE MORE JOBS AND HIGHER PAY AND BONUSES AND
THINGS LIKE THAT FOR WORKERS.
SO WITH THE BILL BEING SIGNED,
CORPORATIONS ARE COMING OUT AND MAKING THESE BIG PROMISES ABOUT
WHAT THEY ARE GOING TO GIVE TO THE WORKERS TO LURE US IN.
BUT
LET'S BREAK DOWN THE ACTUAL NUMBERS AND SEE HOW IMPRESSED WE
SHOULD BE WITH SOME OF THIS INFORMATION.
WE WILL GET TO THE
NUMBERS FOR A SECOND BUT FIRST HERE ARE THE ANNOUNCEMENTS, SO
LET'S JUDGE THOSE --
>>WE HAVE SOME OTHER THINGS LIKE COMCAST WILL GIVE 100,000
WORKERS AND NONEXECUTIVE EMPLOYEES $1000 BONUSES, AND
THESE SORTS OF THINGS ARE OUT THERE.
IF YOU TURN TO
FOXBUSINESS OR CNBC YOU WILL SEE THESE HEADLINES, AND IT SOUNDS
GOOD, 100,000 WORKERS GETTING A $1000 BONUS.
YOU MIGHT THINK, OH
MY GOD, REPUBLICANS ARE RIGHT, GIVE THEM THE MONEY AND THEY
PASS IT ON TO THE WORKERS.
THERE ARE A COUPLE PROBLEMS WITH IT.
FIRST OF ALL --
>>SO SIX WEEKS AGO THERE WAS ALREADY TALK OF THESE SORTS OF
BONUSES GOING THROUGH.
BACK WHEN THE CURRENT DRAFT OF THE TAX
BILL HAD FAILED AND THERE WERE NO VOTES, IT MIGHT NOT HAVE
PASSED AT THAT POINT -- WE THOUGHT IT WOULD, BUT IN THE
MEDIA THEY THOUGHT IT MIGHT NOT -- SO IT LOOKS LIKE A YEAR-LONG
NEGOTIATION OF THE UNION IS WHY THEY ARE GETTING A $1000 BONUS,
NOT BECAUSE THEY ARE ALL OF A SUDDEN GOING TO BE SHOWERED WITH
MONEY.
ALSO UNDERSTAND WHY MIGHT THESE CORPORATIONS BE COMING
OUT?
WHY MIGHT AT&T IN PARTICULAR COME OUT WITH THIS
MESSAGING?
UNDERSTAND WHAT IS GOING ON IN
THE BACKGROUND --
>>INTERESTING, THAT.
THAT THEY ARE GIVING THESE BONUSES THAT
THEY WERE ALREADY GOING TO GIVE, AND GIVING PRAISE TO A MAN WHO
WAS GOING TO BLOCK A DEAL THEY WANTED TO DO.
>>EITHER BLOCK IT OR APPROVE IT, AND NOW HE'S IN A BETTER MOOD
TOWARD AT&T.
LET'S THINK ABOUT ALL THE WAYS AT&T WINS FROM THE
TRUMP ADMINISTRATION, THEY NEED TO MERGER APPROVED, KILLING NET
NEUTRALITY, TRUMP KILLING NET NEUTRALITY POTENTIALLY GIVES
THEM BILLIONS MORE IN EXTRA REVENUES AND PROFITS.
SO THEY'VE
MADE OUT LIKE BANDITS.
AND EVEN IF THIS WAS A MOVE OUT OF THE
GOODNESS OF THEIR HEARTS, WHICH WE KNOW FOR A FACT BECAUSE THE
NEGOTIATIONS THAT HAVE BEEN GOING ON FOR A WHOLE YEAR, IT'S
NOT, BUT EVEN IF IT WAS, IT'S A TINY AMOUNT TO GIVE BACK FOR THE
BILLIONS YOU ARE GETTING.
WITHOUT FURTHER ADO, THE
AMOUNTS.
>>FOR EACH OF THESE, WE DECIDED TO LOOK INTO BASED ON HOW MUCH
THEY MAKE IN A YEAR, WHAT DOES THIS REPRESENT?
UNDERSTAND THIS
WENT THROUGH TYT'S ACCOUNTING DEPARTMENT, WHICH WAS ME, AND
I'M NOT A MATHEMATICIAN.
YOU MIGHT WANT TO CHECK THESE
NUMBERS YOURSELF BUT HERE IS WHAT WE CAME UP WITH.
FOR AT&T,
THEY WILL GIVE AS I SAID BASICALLY $200 MILLION IN
BONUSES, $1000 TO I BELIEVE 100,000 EMPLOYEES.
200,000.
THEIR YEAR END REVIEW FOR INVESTORS LISTED THEIR
CONSOLIDATED REVENUE IN 2016 AS $163.8 BILLION, AND ACCORDING TO
MY MATH, THE MONEY LABEL GIVEN BONUSES IS 0.00119% OF THEIR
ANNUAL REVENUE, AND APPARENTLY THEY WERE ALREADY GOING TO GIVE
IT ANYWAY.
THAT IS A TINY LITTLE PERCENTAGE.
>>$163 BILLION IN REVENUE, YOU CAN DO THE MATH AT HOME BUT
LET'S SAY YOU MAD ONLY HAD A 10% MARGIN WHICH I WOULD BE
SURPRISED BY, THAT'S $16 BILLION.
AND INSTEAD OF PAYING
37% YOU PAY 21%, YOU WILL SAVE BILLIONS.
EVEN IF YOU GIVE THOSE
BONUSES OUT, FEEL FREE TO DO THE MATH AT HOME, ANYWAY YOU SLICE
IT THIS IS AN OLD MONSTER TRICK.
YOU SHAKE PEOPLE DOWN FOR MONEY,
YOU GET MONEY, AND WHEN IT COMES TIME FOR A CELEBRATION YOU GIVE
A LITTLE BIT TO THE POOR HERE OR THERE.
AND THEY GO, I DON'T
KNOW, DON AT&T GAVE ME A LITTLE BIT FOR MY SICK CHILD, HE MUST
BE A GOOD PERSON.
NO, I GOT NEWS FOR YOU, THEY KEPT THE LION'S
SHARE.
>>AND DON TRUMP GAVE YOU ABOUT $60 OF A TAX BREAK FOR THE NEXT
10 YEARS.
BASED ON THE PERCENTAGES I FOUND IT DOESN'T
SEEM RANDOM THAT IT WAS .00119, THEY ARE ALL PRETTY CLOSE TO
THAT.
COMCAST IS GIVING 100,000 PEOPLE $1000 BONUSES, MARKET
WATCH LISTED THEIR SALES AND REVENUE IN 2016 AS $80.4
BILLION, THE BONUSES WORK OUT TO .00142 PERCENT OF THEIR ANNUAL
REVENUE, SIMILAR TO WHAT AT&T IS DOING, AND SOMETHING THAT IF IT
WAS ON SOME SORT OF PIE CHART YOU COULDN'T VIEW IT WITH THE
UNASSISTED EYE.
THEY ALSO SAID THEY ARE GOING TO DO $50 BILLION
IN INFRASTRUCTURE INVESTMENTS OVER THE NEXT FIVE YEARS, THAT
SOUNDS MORE SIGNIFICANT, THEY'VE ALSO PROVIDED NO EVIDENCE THAT
THEY ARE DOING IT BECAUSE OF THE TAX CUTS.
AND I WAS A COMCAST
BUYER FOR QUITE A WHILE, I HAD THEIR SERVICE, YOU KNOW WHAT
THEY HAVE NEEDED FOR A LONG TIME?
TENS OF BILLIONS OF
DOLLARS IN INFRASTRUCTURE INVESTMENTS.
THIS IS STUFF
THAT'S LONG OVERDUE, BUT NOW ANYTHING THEY CAN SAY IS DUE TO
THE CORPORATE TAX CUTS, THEY WILL DO IT, THEY WILL RELEASE A
PRESS RELEASE, AND TRUMP WILL PRAISE THEM.
>>AND COMCAST, SOMEONE ELSE THAT WINS WHEN NET NEUTRALITY IS
KILLED.
AND BY THE WAY ALSO HAD THEIR MERGER APPROVED BACK IN
THE DAY AND GOD KNOWS IF THEY WILL DO MORE MERGERS, AND THEY
TRIED BY THE WAY, AND DIDN'T GET THEIR LATEST ONE APPROVED.
AND
FINALLY, IF YOU ARE THINKING THAT'S INTERESTING, THEY ARE
ALSO DOING CHARITY, WHY NOT JUST INCREASE WAGES?
AND TO BE FAIR,
THE TWO BANKS WE MENTIONED, WELLS FARGO AND FIFTH THIRD
BANK CORP, WHICH IS THE STRANGEST NAME IN AMERICA, HAVE
GIVEN INCREASED WAGES.
SOME PEOPLE ARE CYNICAL ABOUT THAT
SAYING IN THE AREAS THEY WERE THEY WERE LIKELY TO HAVE TO GO
TO $15 MINIMUM WAGE ANYWAY, BUT I DON'T WANT TO BE CYNICAL.
BUT
I WOULD HAVE SAID THE NUMBER ONE THING THEY WILL DO IS GIVE TO
CHARITY, AND WHY IS THAT?
YOU CAN'T UNDO THE WAGE HIKES AND
THEY AFFECT YOUR COSTS GOING FORWARD.
YOU DO ONE TIME
CHARITY, YOU GET WONDERFUL EXPOSURE AND PR, YOU GET
GOOD EXPOSURE AND TAX BREAKS FOR THE CHARITY.
>>WELLS FARGO, $400 MILLION THEY ARE PLEDGING -- THEY
HAVEN'T DONE IT YET, AND I'VE SEEN TRUMP'S PLEDGES BEFORE, I
HOPE PEOPLE ARE FOLLOWING UP -- $400 MILLION FOR COMMUNITY
DEVELOPMENT, THAT SEEMS LIKE A HUGE AMOUNT OF MONEY, AND IT IS,
EXCEPT FOR A COMPANY THAT IN 2016 BROUGHT IN $29.1 BILLION.
AND THEY WILL GET SO MUCH GOOD
PRESS, THE COMPANIES, AND
EVERYONE ON THE RIGHT IS TRYING TO MAKE THIS TAX-CUT LOOK GOOD
BY USING THIS INFORMATION.
>>THE BONUSES ARE ALSO A ONE-TIME EVENTS.
IF YOU INCREASE
WAGES, THAT'S FOR A LONG TIME AND COULD AFFECT YOUR BOTTOM
LINE EVENTUALLY.
NOT THAT THEY AREN'T GOING TO MAKE A PROFIT,
THEY ARE ALL MAKING AND CARNIVAL PROFITS.
BUT IT'S HARDER TO
UNWIND THE WAGES, THAT'S WHY OVERALL THEY AREN'T GOING TO
GIVE YOU HIGHER WAGES.
THEY MIGHT DO A PR GIMMICK AROUND A
BONUS OR AROUND CHARITY, AGAIN THAT'S THE OLD MOB TRICK OF JUST
GIVING A LITTLE BIT, AND BY THE WAY THE SAME TRICK THE ROBBER
BARONS USED -- I MIGHT HAVE TAKEN ALL YOUR MONEY BUT BY THE
WAY ISN'T THAT A LOVELY MUSEUM I SET UP?
THAT IS WHAT'S HAPPENING
HERE.
AND IF IT TURNS OUT THEY ACTUALLY DO WHAT CNBC SAID, A
STAMPEDE OF COMPANIES HANDING OUT BONUSES AND RAISING PAY --
IF YOU HAVE A STAMPEDE OF PAY RAISES WE WILL COME BACK ON HERE
AND TELL YOU ALL ABOUT IT, TYT INVESTIGATES WILL DO A STORY,
AND I WILL GIVE THEM ALL THE CREDIT IN THE WORLD, AS I JUST
DID WITH THE TWO BANKS THAT AT LEAST DID A RAISE.
BUT WE ARE
GOING TO FOLLOW UP, AND I WANT TO SEE IF THEY ACTUALLY SPEND
THE BILLIONS ON INFRASTRUCTURE, IF THEY SEND THE MONEY TO THE
CHARITIES, AND IF THEY DON'T, TYT INVESTIGATES WILL BE
ALL OVER IT.
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