Home Depot

Trump Tax Cuts Have Home Depot Doing The Unthinkable to Employees

The United States is still reeling from the massive, nearly unprecedented tax overhaul performed by President Trump and the republican-controlled congress.

Of course, there was some mighty “resistance” to the idea of completely rethinking taxes under the Trump banner.  The left hemmed and hawed, moaned and groaned, all as expected.  There were rampant rumors that Trump was merely creating another set of handouts for his corporate pals and there were accusations of a sellout of the American people in favor of these same corporations.

In other words, there was a whole lot of the usual anti-Trump nonsense going around, only this time the left was able to focus it on tax reform.

What many liberals continue to forget, however, is that Donald Trump isn’t some random celebrity who won the White House.  Trump is, instead, an incredibly successful businessman whose name alone is likely worth billions of dollars.  How he could sign off on a bill that would doom American workers was a mystery to those who knew the President and were hearing the outrageous accusations from the left.

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Now, in the wake of the tax bill passing, we have already seen incredible displays of its power.  The American people have been the benefactors of this windfall as well, with a number of employers sending the money back downstream to those who made success possible.

The Home Depot is no exception.

“Home Depot is awarding its hourly employees in the U.S. a one-time cash bonus of as much as $1,000 following the passage of new tax legislation.

“The bonus amounts will be determined based on a person’s length of service, similar to Walmart’s strategy. All of Home Depot’s U.S. hourly workers will get at least a $200 bonus, a spokeswoman told CNBC, and the maximum payout is $1,000 for workers who’ve served at least 20 years.

“Home Depot joins a growing list of corporations, and many retailers, using new tax benefits to invest in their workers.

“‘This incremental investment in our associates was made possible by the new tax reform bill,’ Chief Executive Officer Craig Menear said in prepared remarks. ‘We are pleased to be able to provide this additional reward to our associates.’

“The home improvement retailer said the new tax law will result in added tax expenses of about $150 million in the fourth quarter, which are tied to taxes on offshore earnings. These expenses and the bonus payments will lower Home Depot’s fiscal 2017 earnings by 19 cents a share, the company said.”

Home Depot, much like Donald Trump, is an American success story.

The retailer began from wildly humble beginnings after Bernie Marcus and Arther Blank decided to go into business with one another over coffee.  The pair had previous experience in the home hardware market, and understood what Americans were lacking in that arena.  The two grew the brand from two stores in the late 1970’s to over 2,200 stores currently.

If anyone in America is qualified to be an expert of what success looks like, Arthur Blank, Donald Trump, and Bernie Marcus are.

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