This is hilarious. COSTCO has reaped a huge windfall because of the Trump tax plan. They’ve announced, almost militantly, that they are going to “put the money back into its employees.” They say it like they’re going to show the world what’s the right thing to with “greedy profits.”
Then they go on to explain a rudimentary conservative economic theory, as if it’s a revelation they need to share:
The company’s effective tax rate for its fiscal second quarter, which straddled the calendar year, was 27.7 percent, said chief financial officer Richard Galanti in a conference call Wednesday afternoon. That’s down from 35.6 percent during the same quarter of its 2017 fiscal year.
“Some will fall to bottom line, yes,” he said. “We also take care of our employees.”
Wait, tax savings are going to be used to pay employees more AND lower prices? That might sound like a company is losing profits, but read what COSTCO figured out all on their own. This crazy gambit will attract more customers which will ultimately lead to greater profits!
But, but we were told the leftist model works best-
Raise taxes on businesses while forcing them to pay employees $15 an hour, which drives businesses away, which ultimately blights an area, forcing people to go on welfare in an area where the tax base is eroding daily.
THAT’S the superior economic policy, and it’s the one the left is going to run on against Trump in 2020.
ht/ jd hasty