Article

2017-12-21 Economy

Fifth-Third and Wells Fargo Will Pay $15 Minimum Wage Thanks to Tax-Reform Bill

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Posted by Besoeker 2017-12-21 05:07|| || Front Page|| [6 views ] Top

#1 They will be able to open accounts in their own names now.

Posted by Woodrow 2017-12-21 06:57|| 2017-12-21 06:57|| Front Page Top

#2 If I may:
Higher wages + bonuses = higher costs = lower profit margins = cost-cutting = layoffs + replace by robots.

This is a bunch of PR bullshit by banks to say 'thanks' to Trump for his corporate tax cuts. As a strong believer in small government, I love the idea of tax cuts. However, I'm rather dubious that corporations will pass this $ down to their workers in a sustainable way. Will there be fits and starts - like $1,000 bonuses from AT&T? Probably. Higher CEO salaries? Definitely. Wage increases? Maybe among the higher-value employees, but only temporarily among lower-wage workers who will be replaced by robots.

If there's a silver lining, it's that Bitcoin et al may eventually displace banks altogether. Screw bankers.

Posted by Glomosing Omainter7636 2017-12-21 10:04|| 2017-12-21 10:04|| Front Page Top

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