House Minority Leader Nancy Pelosi’s “apocalypse” continued to crash and burn this week, with coffee retail giant Starbucks announcing its plan to dramatically expand employee benefits and wages in the wake of the massive GOP tax cuts.
The global coffee-chain revealed their drastic re-investment on Wednesday, vowing to spend over $250 million on higher wages, expanded employee benefits, increased stock options, as well as creating thousands of new jobs across the country.
According to CNBC, the company directly credits the recent overhaul of the US tax code as the main factor behind their decision, saying, “Investing in our partners has long been our strategy, and due to the recent changes in U.S. tax law, we are able to accelerate some significant partner investments.”
“Just as we have always felt strongly that our partners are key to our business success, we have also known offering a valuable, comprehensive benefits package helps us retain our valuable partners,” said Starbucks CEO Kevin Johnson. “The value of Starbucks benefit package [fully accessed] is unmatched by other retailers and provides thousands of dollars above the value of other companies compensation offerings.”
Starbucks is the latest American-based corporation to announce major reinvestments and expansion in the US economy following the recently passed GOP tax cuts. In recent weeks, Walmart, Visa, American Airlines, Disney, and others have vowed to raise wages and pay out big bonuses across the country.
ARMAGEDDON? Visa RAISING EMPLOYEE BENEFITS Following GOP Tax Cuts
House Minority Leader Nancy Pelosi’s dire predictions of “Armageddon” and the “end of the world” regarding the GOP tax cuts continued to evaporate on Monday, with credit card giant Visa announcing it would be expanding benefits to its US-based workers following the business-friendly legislation.
According to CNBC, Visa announced the company would be “raising its 401(k) matching for employees in response to tax reform.”
“JUST IN: Visa is raising its 401(k) matching for employees in response to tax reform; company also will examine other long-term investments.”
JUST IN: Visa is raising its 401(k) matching for employees in response to tax reform; company also will examine other long-term investments. pic.twitter.com/aoo5jT8ns1
— CNBC Now (@CNBCnow) January 8, 2018
The move makes the company the latest American corporation to drastically increase benefits and bonuses to workers following the GOP tax cut. American Airlines, AT&T, Boeing, Southwest Airlines, and others all announced renewed investments after President Trump signed the bill.
Hours before the law’s passage, former Speaker of the House Nancy Pelosi slammed the legislation; saying the new tax cuts would spark “Armageddon,” adding that it would bring about “the end of the world” for hard-working American families.
LIBERAL FAIL: ‘Armageddon’ Avoided as Airlines PAY BIG BONUSES After GOP Tax Cuts
Liberal predictions of “Armageddon” and the “end of the world” following the passage of the GOP’s tax cut legislation may have been premature, with several giant corporations announcing bumped-up bonuses for workers after the bill was signed into law by President Trump.
House Minority Leader Nancy Pelosi’s predictions of chaos and “death” were nowhere to be seen this holiday season, as large businesses such as AT&T, Wells Fargo, Boeing, and others vowed to kick-back their tax-cut windfall to American workers.
On Tuesday, aviation giants Southwest Airlines and American Airlines announced their plans to dish-out $1,000 bonuses to all full-time and part-time employees based in the United States, as well as their plans to donate upwards of $5 million to charity.
JUST IN: Southwest Airlines to give all full-time and part-time employees a $1,000 cash bonus on Monday & company will also make $5M in charitable donations and invest in its Boeing fleet due to tax reform passage. https://t.co/YKho1O67Ek
— CNBC (@CNBC) January 2, 2018
“We will be able to invest even more in aircraft and facilities, and we will be able to do so with even greater confidence about the future,” said American Airlines CEO Douglas Parker.
Users on social media were quick to point out the liberal fail this week, sarcastically saying, “But I was told tax reform would make thousands die!”
But I was told tax reform would make thousands die! https://t.co/QATtnXur5h
— Dana Loesch (@DLoesch) January 2, 2018