The American economy continues to roar under President Trump and the GOP-controlled Congress, with federal trackers and analysts predicting an unprecedented 5.4% GDP growth in the first quarter of 2018.
The shocking numbers show the US economy rebounding after years of stagnating wages and low-growth GDP in the wake of the “Great Recession” under former President Barack Obama.
“The economy is on track to put up blockbuster growth numbers in the first quarter, according to the latest forecast from the Atlanta Fed,” writes CNBC. “GDP is expected to surge 5.4 percent to start 2018, the central bank branch estimated in its latest rolling look at how the economy is progressing.”
In other signs of progress, consumer spending surged from 3.1% to 4% following the passage of the GOP tax cuts and jobless claims continue to hover around “generational lows” with unemployment at just 4.1%.
President Trump touted the economic success story during his State of the Union address Tuesday night; applauding companies and corporations for raising wages, expanding benefits, and paying big bonuses after he signed the sweeping tax overhaul into law.
ARMAGEDDON CONTINUES: FedEx Announces $3.2 BILLION in Raises, Bonuses
The dire liberal predictions of doom and gloom following the recently passed GOP tax cuts continued to evaporate Friday, as shipping giant FedEx announced its plan to increase wages across the country and pay out big bonuses to American-based workers.
According to the New York Post, the nationwide shipping corporation unveiled its new plan to pay out over $200 million in increased wages, pledging two-thirds of the fund towards hourly employees and the rest to be doled out using performance metrics and time-served in the company.
FedEx also vowed to invest another $1.5 billion in the corporation’s benefits package and an addition $1.5 billion for its American transportation hubs.
“FedEx believes the Tax Cuts and Jobs Act will likely increase GDP and investment in the United States,” said a statement on the company’s website.
The announcement makes the shipping giant the latest American-based corporation to reinvest in the US economy following the passage of the GOP tax cuts.
AT&T, Starbucks, Disney, Home Depot, Walmart, American Airlines, Visa, and others have all raised wages and payed out big bonuses within weeks of President Trump signing the sweeping GOP tax legislation into law.
ARMAGEDDON CONTINUES: Pfizer to REINVEST BILLIONS in US Following GOP Tax Cuts
The liberal predictions of “doom and gloom” and “death and destruction” in the aftermath of the GOP tax cuts continued to evaporate on Tuesday, with pharmaceutical giant Pfizer announcing its plan to reinvest billions of dollars in the US economy following the sweeping tax legislation.
Pfizer now plans to repatriate tens of billions of dollars in profits back to the United States after the GOP plan slashed taxes on overseas holdings; finally allowing the New York-based corporation to bring those funds back to America.
“The drugmaker said Tuesday that it would pay $15 billion in so-called repatriation taxes over the next eight years to shift foreign earnings back to its home market. The exact amount the company plans to bring back was not immediately clear,” writes USA Today.
“The aspects of most importance to us were addressed in the new tax code, strengthening our ability to make capital allocation decisions that maximize patient benefit and enhance shareholder value,” said Pfizer’s Chief Financial Officer.
The announcement comes as other giant American-based companies -such as Walmart, AT&T, Disney, American Airlines, Starbucks, Home Depot, and more- unveil their plans to raise wages and pay big bonuses in the immediate aftermath of the GOP tax overhaul.