Lots of companies are giving employees $1,000 bonuses and crediting the corporate tax cut. Five Hawaii banks have done that. Several major airlines are doing it. Baltimore Gas & Electric also plans to pass some savings back to rate-payers. This is pretty cool, though none of these companies are passing ALL of it through.
And then there is the telecoms giant Comcast, which testified that as corporate tax cut would allow it to create thousands of jobs, and instead announced more than 500 Christmas layoffs. Two lessons here. The bonuses prove that cynicism is no substitute for knowledge. Even companies sometimes do good.
The second lesson is that gullibility is no substitute for knowledge. Few things change the impulse of companies to act in their own economic interest.
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