Abigail Marone

Voters Consistently Reject Tax Increases at the Ballot Box

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Posted by John Kartch, Abigail Marone on Friday, March 8th, 2019, 11:49 AM PERMALINK

Consultants often try to convince elected officials that Americans don’t mind tax increases. Such consultants cite questionable opinion polls. But the most accurate polls are elections, and the ballot box results show Americans consistently reject tax increases.

A review by Americans for Tax Reform of the past three election cycles -- 2018, 2016, and 2014 -- shows that voters nationwide have rejected every major tax increase ballot measure:

 

2018

Arizona voters prevent new tax hikes - Proposition 126, which prohibited the state and local governments from enacting new taxes or increasing tax rates on services performed in Arizona, was passed with 64% voting YES.

Washington state carbon tax defeated - For the second time in a row, blue state Washington voters firmly rejected a carbon tax. Initiative 1631 was defeated by a 56.3% - 43.7% margin.

Missouri voters reject gas tax hike - Proposition D, which would have hiked Missouri's gas tax by more than 58%, raising the rate from 17 to 27 cents per gallon, was rejected by more than 54% of Missouri voters.

Utah voters reject gas tax hike - Utah voters sent a clear message to state lawmakers they do not want them to even think about raising the state gas tax. Non-binding Question 1 asked Utah voters if they wanted to advise the legislature to raise the state gas tax. Utah voters rejected the question with more than 65% voting NO.

Colorado voters reject massive personal and corporate income tax hikes -  Amendment 73, which would've imposed personal and corporate income tax hikes, was rejected by voters, with 56% voting NO.

Colorado voters defeat sales tax increase - Proposition 110, which would've raised the state sales tax, was rejected by voters, with 60% voting NO.

Maine voters reject payroll tax hike - Question 1, which would’ve enacted a payroll tax and non-wage income tax to fund a Universal Home Care Program was rejected by voters, with 62% voting NO.

South Dakota voters reject tobacco tax hike - Initiated Measure 25, which would have increased the excise tax on cigarettes, was rejected by voters, with 55% voting NO.

 

2016

Washington state rejects carbon tax - Initiative 732 got rejected by a 58.5% to 41.5% margin. The initiative would have phased in a $25 per metric ton carbon tax over a period of two years. After reaching $25 it would have continued to increase by 3.5% plus the rate of inflation until the tax reached $100.

Colorado rejects payroll and income tax hike – By a 79.9% to 20.3% margin, Colorado voters rejected Amendment 69, a massive tax increase that would have imposed a 10% payroll tax and a 10% tax on all non-payroll income.

Oklahoma rejects 22 percent sales tax hike  - State Question 779 got rejected by a 59.4% to 40.6% margin. State Question 779 would have hiked the sales tax by 22% (from 4.5% to 5.5%).

Oregon rejects business tax increase - By a 59.2% to 40.8% margin, Oregon voters rejected Measure 97 which would have implemented a 2.5% gross receipts tax on all corporate sales exceeding $25 million.

Colorado rejects tobacco tax increase - By a 53.7% to 46.3% margin, Colorado voters rejected Amendment 72, which would have increased the tobacco excise tax by $1.75 per 20-pack. Additionally, all other tobacco products excluding e-cigarettes would have been taxed at 62 percent of the manufacturer's list price.

Missouri rejects 23-cent cigarette tax increase - Missouri voters rejected Proposition A by 55.3% to 44.7% margin, which would have increased the cigarette tax by 23 cents per pack by 2021. Further, all other tobacco products would have been subject to an additional 5% sales tax.

Missouri rejects 60-cent cigarette tax increase  - By a 59.2% to 40.8% margin, Missouri voters rejected Constitutional Amendment 3, which would have raised the cigarette tax by 60 cents per 20-pack in 15 cent increments by 2020. Additionally, an 'equity assessment fee' of 67 cents per pack would have been imposed on manufacturers who did not sign the Tobacco Masters Settlement Agreement (TMSA) of 1998.

North Dakota rejects Tobacco Tax Increase - North Dakota voters rejected Initiated Statutory Measure 4 by 61.7% to 38.3%, which would have increased the state tobacco tax from 44 cents to $2.20 per pack. Also, it would have raised the tax on other tobacco products (including liquid nicotine and electronic vapor products) from 28 percent to 56 percent of the wholesale purchase price.

 

2014

Massachusetts voters eliminate a vote-less backdoor tax hike on taxpayers - Question 1: In deep blue Massachusetts, voters repealed a law that indexed the state gas tax to inflation by 53% – 47% 

Nevada voters defeat a two percent “margin tax” on businesses -  Question 3: In Harry Reid’s home state, voters defeated a proposed two percent "margin tax" on businesses by 80% – 20% . The revenue from the new tax was to be granted to the state’s public school districts.

Tennessee voters enshrined a prohibition on state and local income taxes in the state constitution by a vote of 66% – 34%

Georgia voters passed a state constitution cap on the state income tax - Amendment A: Voters enshrined in the state constitution a cap on the state income tax at the effective rate on January 1, 2015 by a vote of 74% – 26% . Therefore the state legislature is now constitutionally prohibited from increasing the state income tax rate any higher.

Photo Credit: Joe the Goat Farmer


Crenshaw on GOP Tax Cuts: There's more money in the pockets of the people - that's the reality.

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Posted by Abigail Marone on Tuesday, March 5th, 2019, 4:50 PM PERMALINK

In a House Budget Committee hearing, Rep. Dan Crenshaw fought back against Democrats who tried dismissing the positive impact the Tax Cuts and Jobs Act is having on businesses.

Crenshaw provided numerous examples from Texas businesses who have given pay raises, employee bonuses, employee benefits, and announced expansion plans as a direct results of tax cuts. The good news doesn't end in Texas, GOP tax cuts have helped small businesses nationwide. 

He also argued that the purpose of government is not to tax and spend, as most Democrats would like to think, but rather, to tax people at the least extent possible while still providing for basic needs enumerated in the Constitution. 

Read his remarks below:

"We're talking about a difference in philosophy, not just tax rates. It's a question of whether the government should be taking more of your money or whether you should keep more of your money. It's a difference in the role of government.

"It seems to me, that you all believe that the role of government is to tax the people as much as possible so that you and your benevolent fellow academics can dream up more programs for the government to spend money on. I don't believe that. I don't believe that's what the role of government is for.

"The role of government is to protect God-given rights that we have and to ensure that we live as free as possible. The role of government is to tax people to the least extent possible while still taxing them enough to cover basic needs for government. If we are questioning what those needs are, we can just look at our Constitution. They're generally pretty clear.

"You said that these anecdotes are imaginative... it's literally not imagination to bring up anecdotes. It's literally not that, it's reality. So here's some reality from Texas, direct results from the Tax Cuts and Jobs Act. 

McDonald's increased educational opportunities by $150 million as a result of the tax cuts. $500 employee bonuses at Camp Contstruction Services, reduced prices for customers at Center Point Energy, $500 employee bonuses at Group 1 Automotive, $1,600 employee bonuses at Cabot Oil & Gas, $2,000 employee bonuses at Waste Management, $1,000 to $4,000 bonuses paid to employees at Insperity totaling $17 million, base wages raised to $15/hour at Cadence Bancorp along with an increased 401(k) contribution and employee stock purchase plan, Covestro had a choice between three new facilities, a $1.7 billion facility, between Asia, Europe, and Houston, so they chose Houston and they say it's directly because of the tax cuts.

These are not imaginative anecdotes. These are real. There's more money in the pockets of the people - that's the reality."

A Texas-sized list of tax cut good news in the state can be found at www.atr.org/Texas

See also: over 750 companies offering pay raises, bonuses, 401(k) match increases, expansions, benefit increases, and utility rate reductions due to the Republican tax cuts.

 


Starbucks: GOP Tax Cuts "Accelerated" Wage and Benefit Increases

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Posted by Abigail Marone on Tuesday, January 29th, 2019, 11:10 AM PERMALINK

Starbucks employees are benefiting from the Tax Cuts and Jobs Act enacted by congressional Republicans and President Donald Trump. According to the company, the tax cuts "accelerated" wage increases, employee stock grants, and Partner and Family Sick Time benefits.

"These offerings will total more than $250 million for more than 150,000 partners and are accelerated by recent changes in the U.S. tax law," the company said in a January 2018 statement.

"The Starbucks example is a reminder that the GOP tax cuts help every community in America," said Grover Norquist, president of Americans for Tax Reform.

In a letter to employees, Starbucks CEO Kevin Johnson wrote:

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 to continue our leadership as the retail industry leader in total compensation and benefits.   

Excerpts of the Starbucks company statement can be found below:

Building on a long history of providing relevant, industry-leading benefits, Starbucks Coffee Company (NASDAQ: SBUX) today announced a series of new partner (employee) offerings that span across wage and benefits. These offerings will total more than $250 million for more than 150,000 partners and are accelerated by recent changes in the U.S. tax law. 

---------------

Starbucks pays above the minimum wage in all states across the country. In April, all eligible U.S. hourly and salaried partners will receive a second wage increase in addition to the annual increases that they have already received this fiscal year. This will include an investment of approximately $120 million in wage increases that will be allocated based on regional cost of living and laws that vary from state to state. 

On April 16, we will provide an additional 2018 stock grant for all eligible full-time, part-time, hourly and salaried U.S. partners across our stores, plants and support centers, who have been active as of Jan. 1, 2018. All Starbucks retail partners will receive at least a $500 grant, store managers will each receive $2000 grant and plant and support center partner (non-retail) grants will vary depending on annualized salary or level. This investment alone is valued at more than $100 million.  

A new Partner and Family Sick Time benefit will be available to all eligible U.S. partners, which will allow partners to accrue paid sick time based on hours worked and then use them if they or a family member needs care. When this benefit goes into effect this year, Sick Time will accrue at a rate of one hour for every 30 hours worked, thus a partner working 23 hours a week can expect to accrue approximately five days of sick time benefit over the course of one year.

Starbucks has also reaffirmed their commitment to create more than 8,000 new part-time and full-time retail jobs and an additional 500 manufacturing jobs in its Augusta, Georgia soluble coffee plant.

For store partners, Starbucks has also expanded their parental leave policy to include all non-birth parents with up to 6 weeks of paid leave when welcoming a new child. 

These new offerings are in addition to the nearly $7 billion of capital that Starbucks will deploy to build and renovate stores, manufacturing plants and technology platforms in the U.S. over the next five years. Starbucks remains committed to providing opportunities to tens of thousands of Americans from disadvantaged backgrounds.

Americans for Tax Reform has a national compilation of good news arising from the GOP's tax cuts. Click here to see highlights in your state.

 


Vermont Residents Rally Against Carbon Tax

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Posted by Abigail Marone on Monday, January 21st, 2019, 3:07 PM PERMALINK

Vermont lawmakers considering a carbon tax were confronted by protests on their first day in session. Dozens of anti-carbon tax protesters, wearing yellow vests, showed up at the statehouse to voice their opposition to the policy.

The protesters, dressed to mimic the Yellow Vest movement in France, explained that they opposed the carbon tax measure because Vermonters can’t afford any new taxes on gasoline, diesel, and home heating fuels.

Dwight Day, a Vermont resident, attended the rally to oppose the tax. He told Americans for Tax Reform he was passionate about stopping the tax because “the carbon tax is just another excuse by the socialist liberals to get more money from VT citizens and make VT even more business unfriendly.”

About 75 people attended the rally, according to attendees.

Skyler Bailey, a self-proclaimed political independent, attended and spoke at the rally. In his speech he said he believed the global climate has been warming but that a carbon tax won’t do anything to help.

“When the Essex plan was first made public, I was determined to have an honest look at it and to judge it by its merits,” he said, referring to Vermont’s proposed carbon tax. “My suspicions were raised when its authors claimed the plan would be both revenue neutral and a good source of revenue for funding the development of new technologies.”

Bailey told Americans for Tax Reform that when he went to look into the claims of proponents of the Vermont carbon tax, he could “find no evidence at all that they had not quite literally made their numbers up.”

“When I started doing my own research, I could find no evidence that carbon taxes had ever decreased emissions in the countries where they have been tried, and even correlate with increased emissions,” he continued.

Bailey thinks the tax would be particularly problematic for Vermont residents. “Vermont is a state with a large proportion of our population who are very barely keeping their heads above water financially. We have high taxes, a high cost of living, and we are a rural state where most people spend large portions of their income on gasoline and heating fuel. A carbon tax in Vermont would hurt a lot of people who absolutely cannot afford it, and there is no evidence that emissions would be decreased at all.”

“Carbon taxes are regressive taxes that disproportionately hurt the poor, and do not decrease emissions,” concluded Bailey.

 

Carbon Tax Bill is $1 Trillion Tax Hike

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Posted by Abigail Marone on Monday, December 17th, 2018, 12:50 PM PERMALINK

 

The carbon tax bill recently introduced by House Democrat Ted Deutch is a $1 trillion net tax increase over 10 years. 

According to a recent report from the Congressional Budget Office, a $25 per ton carbon tax increasing by two percent per year adds up to a total net tax increase of $1.1 trillion, as shown below:

 

The Deutch bill hits the $25 per ton mark in year two, and increases by $10 per year, which means the $1 trillion tax hike estimate is a lowball estimate. In reality the net tax hike would be significantly higher.

The carbon tax bill is a massive and continually ratcheting national energy tax. It allows politicians to raise taxes in the future without ever having to vote. Just as the French carbon tax law grows more oppressive with time, within five years the Deutch bill would automatically rise to $55 per ton. For reference, the carbon tax handily rejected by blue Washington state voters in November started at $15 and ratcheted up by $2 per year.

Voters across the USA and other countries continue to reject carbon taxes, but Democrats continue to find new ways to separate Americans from their money. The Democrat national party platform endorses a carbon tax, while the Republican platform rejects any and all carbon taxes.

Other Democrats have signed onto the Deutch carbon tax bill, including John Delaney, Anna Eshoo, and the eternal politician Charlie Crist. Deutch also convinced Republican congressmen Francis Rooney (Fla.) and Brian Fitzpatrick (Pa.) to co-sponsor the bill, though they were nowhere to be found during the bill rollout media events.

Deutch's bill includes a number of other horrible provisions. Let's look at the details:

Shovels taxpayer money into a giant vat for IRS, EPA, and State Department bureaucrats. The IRS and EPA will develop a cozy relationship -- and what's not to love about that -- to siphon cash from the vat of taxpayer funds for what the bill calls "Administrative Expenses" and "Other Administrative Expenses." For reasons unclear, State Department bureaucrats will also have access to the vat of taxpayer funds. What could go wrong?

Gives broad powers to IRS chief to find new products and entities to be carbon-taxed. The IRS is directed to work with the EPA in order to find more tax targets: "Any manufactured or agricultural product which the [Treasury] Secretary in consultation with the [EPA] Administrator determines" is a tax target. The newly-carbon-taxed items will be added to the long list already specified in the bill: Iron, steel, steel mill products including pipe and tube, aluminum, cement, glass, fiberglass, pulp, paper, chemicals, and industrial ceramics.

Gives broad powers to the EPA chief. The bill gives czar-like powers to the EPA chief including the power to impose "monitoring, reporting, and record-keeping requirements" on Americans. The bill also gives the EPA chief power to conduct investigations and force "information collection."

Establishes a creepy DC-based "Carbon Dividend Trust Fund" -- which also only considers children to be one-half of a person: The “Carbon Dividend Trust Fund” leftovers will somehow be routed from DC on a per-person basis -- except humans under the age of 19 are only considered half of a person:

Here it is, straight from the bill text:

"PRO-RATA SHARE.—A carbon dividend payment is one pro-rata share for each adult and half a pro-rata share for each child under 19 years old of amounts available for the month in the Carbon Dividend Trust Fund."

Gives broad powers to the Treasury Department to issue even more rules and regulations. The bill language states:

"The Secretary shall promulgate rules, guidance, and regulations useful and necessary to implement the Carbon Dividend Trust Fund."

Imposes income tax on the carbon tax "dividend." Yes, the government fleeces the taxpayers and sends the carbon tax money to DC, where it is siphoned off by bureaucrats. Then a leftover "dividend" is supposedly sent out to the countryside where it is then subject to income tax! Here is the bill language:

 “(D) FEE TREATMENT OF PAYMENTS. -- Amounts paid under this subsection shall be includible in gross income.

A tax on a tax, which will likely increase the complexity of your annual tax filing. Here's an idea -- how about not taking the money from taxpayers in the first place?

Greases the skids for a European-style Value Added Tax, a cash cow for big government by erecting a complex carbon tax border adjustment scheme.

Authorizes armed carbon tax enforcement agents. The bill authorizes armed carbon tax enforcement agents to collect the new tax on energy used by Americans. As if customs enforcement doesn't already have enough on its plate, the bill states:

“The revenues collected under this chapter may be used to supplement appropriations made available in fiscal years 2018 and thereafter -

 “(1) to U.S. Customs and Border Protection, in such amounts as are necessary to administer the carbon border fee adjustment.”

Authorizes certain government sharing of Social Security information. The bill states:

“(B) COMMISSIONER OF SOCIAL SECURITY. -- The Commissioner of Social Security shall, on written request, disclose to officers and employees of the Department of the Treasury individual identity information which has been disclosed to the Social Security Administration as is necessary to administer section 9512

Americans for Tax Reform opposes the bill. "The proposed carbon tax is a gas tax and a tax on your electric bill. Worse, it increases automatically year after year so the politicians can raise your taxes without ever having to vote," said Grover Norquist, president of Americans for Tax Reform. "The tax will be hidden in the price of all goods and services. A hidden tax. A permanent tax. An uncontrolled tax that increases without end."

 

Photo Credit: SalFalko

More from Americans for Tax Reform


California Wants to Tax Your Texts

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Posted by Abigail Marone on Wednesday, December 12th, 2018, 11:46 AM PERMALINK

California regulators want to tax your text messages. Even worse, the tax could be applied retroactively for five years and cost Californians more than $220 million for text messages they have already sent.

The plan will be discussed and voted on at next month’s California Public Utilities Commission meeting.

California is a famously high-tax state, with the highest income tax rate in the nation and a bottomless ability to come up with new ways to tax residents. 

Local business groups have already come out against the proposal. The Bay Area Council, California Chamber of Congress, and Silicon Valley Leadership group calculated that the tax could cost texters up to $44.5 million per year.

“The proposed text tax would be one of the most regressive to come from state bureaucrats in years,” argued Jim Wunderman, President of the Bay Area Council, in an op-ed. “The obvious consequence is that it would discourage some Californians — most likely low-income consumers — from texting. This is troubling since texting has become an almost universal activity in our society, and an important way for people to stay connected.”

Regarding the retroactive nature of the tax, the proposal states:

“As the Commission is affirming an existing policy, some telecommunications carriers may be liable for past amounts due for text messaging surcharges owed. All wireless carriers shall submit Tier 2 Advice Letters within 90 days from the date of this Decision, informing the Commission whether they have reported and remitted surcharges on text messaging services revenue. Wireless carriers who have not reported and remitted surcharges on text messages with the last five years shall identify the amount of intrastate surcharges owed on text messaging services and propose a payment plan in their advice letter filings. 

The California Public Utilities Commission is set to vote on the proposal atits January 10 meeting in San Francisco.

Photo Credit: Marco Verch


Norquist: Dem Corporate Tax Hike Would Increase Your Utility Bills


Posted by Abigail Marone on Monday, November 19th, 2018, 10:06 AM PERMALINK


As Democrats plot a long list of tax increases, ATR president Grover Norquist explained why the proposed Democrat corporate income tax hike will kill jobs and growth and also force Americans to pay higher utility bills.

As a guest on Fox News Channel's Fox & Friends, Norquist said:

“When you raise business taxes, corporate taxes, everybody’s utility bills go up. We know this because when Trump and the Republicans cut the corporate income tax and all 50 states' utilities reduced their fees to people because one of the costs that a utility has when they provide electricity are their taxes, their federal taxes. When they went down, billions of dollars in lower utilities go to all Americans. So when you tax companies, you tax all Americans."

When Republicans controlled the U.S. House for eight years, they not only cut taxes across the board, they passed strict rules preventing tax increases on the American people. Democrats are in the process of weakening or scrapping those rules. Democrats are considering a corporate tax rate hike, a personal income tax hike that would also hit small businesses, a massive national gun tax, a carbon tax, and even an increase in the Death Tax.


Carbon Tax Curbelo Loses in Florida

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Posted by Abigail Marone on Tuesday, November 6th, 2018, 9:55 PM PERMALINK

Earlier this year Florida congressman Carlos Curbelo introduced a bill to impose massive carbon tax on the American people. The Curbelo bill would have raised the cost of everything, hitting poor households the hardest.

Curbelo could and should have been reelected but he was talked into pushing an energy tax on all Americans -- the so-called carbon tax -- and as a result voters kicked him out of office," said Grover Norquist, president of Americans for Tax Reform. "Luckily he can get a job at the ‘moderate’ Niskanen Center. Jerry Taylor has already tweeted, ‘We’d love to have him.’"

The Curbelo loss is yet another sign that carbon taxes are politically toxic.

Below, see ATR's takedown of the Curbelo bill as well as other examples of how the carbon tax has been unpopular at the ballot box


Yikes: Curbelo's Carbon Tax Bill Provides "Travel Expenses" for UN-style "National Climate Commission"

Curbelo Carbon Tax Bill Pays "Experts and Consultants" Up to $164,200 Per Year

Curbelo's Carbon Tax Would Hike Household Energy Bills by $688

Curbelo's Carbon Tax Threatens 300% IRS Fines for "Any person who fails to comply"

Carbon Tax Pushers Beware: Vermont Republican Defeated Carbon-Tax-Supporting Democrat

Carbon Tax Pushers Beware: Australia's Carbon Tax Politicians Were Quickly Voted Out of Office

You might lose your job due to Curbelo's carbon tax but don't worry, he'll "retrain" youTim Andrews: The Carbon Tax Was an Economic and Electoral Disaster in Australia -- A Cautionary Tale for the U.S. 

Scoop: Details of the Job Crushing Curbelo Carbon Tax Bill

ATR Statement on the Passage of Scalise/McKinley Anti-Carbon-Tax Resolution

Hillary Clinton Memo Shows Carbon Tax Devastating to Low Income Households

Hillary's campaign manager on a carbon tax: "To be clear: it's lethal in the general, so I don't want to support one."

Center for American Progress Founder: "We have done extensive polling on a carbon tax. It all sucks."

Even Left-Leaning Washington State Voters Rejected a Carbon Tax

KEY VOTE: ATR Urges "YES" Vote on Scalise-McKinley Anti-Carbon Tax Resolution

41 Conservative Groups Support Scalise/McKinley Anti-Carbon Tax Resolution

Canadians Revolt Against Trudeau's Carbon Tax

Photo Credit: Tiger Direct


Trump Tax Cuts Brings New Donuts to USA

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Posted by Abigail Marone on Tuesday, October 23rd, 2018, 5:42 PM PERMALINK

The Tax Cuts and Jobs Act is delivering some pretty sweet perks. Baker Boy, a North Dakota baked goods manufacturer, is producing a brand new donut thanks to the GOP tax cuts. They are also purchasing new equipment, expanding business operations, and hiring new employees.

Never before seen in North America, Magic Ring Donuts are jelly or creme-filled donuts that have a hole in the middle and are injected with filling in the donut ring. The donuts are manufactured with new technology that is only currently used overseas. 

“We’ll be the first company in North America to produce these types of donuts,” Guy Moos, president of Baker Boy told the National Association of Manufacturers.

Baker Boy started selling the Magic Ring Donuts in August across North Dakota, Minnesota, Nebraska, Iowa, and Wisconsin. Dustin Monke, Baker Boy’s marketing manager told Americans for Tax Reform that because of the success they have already had they are working on expanding sales nationally as well as increasing their flavor offering.

“We’re taking advantage of tax reform by writing off the new equipment and reinvesting our savings in the business. Over the next three years, we’ll invest $13 million in growing our business—including $9 million over the next 18 months,” said Moos. “It’s a huge project, but we know tax reform will allow us to grow sales pretty significantly.”

The investment will increase Baker Boy’s production by over 4 times and bring high-paying manufacturing jobs to North Dakota.

“Right now, we can produce 5,000 donuts per hour,” said Moos. “By investing in more modern technology, we’re upping our capacity to 22,000 donuts per hour. That’s about $15 million additional sales of donuts every year.”

“As we grow, we’ll need workers to deal with the increased demand down the road,” explained Moos.

Moos told the National Association of Manufacturers these will be skilled jobs—and that Baker Boy already offers salaries that are nearly double what their competitors pay.

“We start our employees at $17.75 an hour for entry-level jobs and we continue to pay the costs of health insurance for our employees,” said Moos. “We’ve always believed in being a good corporate citizen.”

 Currently, Baker Boy employs over 210 people.

Photo Credit: Baker Boy


GOP Tax Cuts Boost Walgreens Wages

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Posted by Abigail Marone on Friday, October 12th, 2018, 12:20 PM PERMALINK

Walgreens is investing $150 million to raise it’s in store wages and build community health initiatives thanks to the GOP's Tax Cuts and Jobs Act.

“We will be making select incremental investments of around $150 million in fiscal 2019, mainly in store wages, but also to fuel our new community health care initiatives,” said Walgreens CFO James Kehoe. “And you can view these in light of the favorable tax reforms in the US.”

In December, the Republican Congress passed the Tax Cuts and Jobs Act. The bill contained numerous pro-business reforms including full business expensing and cutting the corporate tax rate from 35% to 21%. Not a single Democrat voted for the bill.

Companies across the United States have responded positively to the tax cuts by passing on benefits to employees, customers, and local communities. Walgreens is the latest company to announce that they will be using their tax savings to help their employees and community.

Walgreens employs over 235,000 people with locations in all 50 states and the District of Columbia. Approximately 76% of the US population lives within 5 miles of a Walgreens or Duane Read. Walgreens employees and those in surrounding communities should look forward to the benefits coming their way thanks to President Trump's tax cuts.

 

See also: over 700 examples of tax cut good news -- raises, bonuses, benefit increases, utility rate reductions, business expansions


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