Armageddon (in the New Testament) represents the last battle between good and evil before the Day of Judgment.
Armageddon is the word that Nancy Pelosi used to describe the tax cut bill passed a few weeks ago. I thought it might be instructive to review all the evil the bill has produced.
This statement by the Democratic Party leader is both significant and revealing. She expresses the mindset that has become too popular among leaders in her Party. Differences are not a matter of respectful disagreements but as she says good and evil. Should we be surprised that leadership of this sort engenders hate. If you disagree with good Pelosi you are evil. That is the implication that translates into accusations of homophobia, greed, misogyny, cruelty, islamophobia and transphobia etc.
If anyone wonders why so little gets done in Washington, Nancy Pelosi’s attitude will give you some idea of the toxic atmosphere she promotes. It also represents how shallow her intellect must be. I guess she never took the time to read conservative ideological and economic theory. Agree or disagree it certainly is not grounded in evil.
Here’s a list of the emerging benefits of the tax bill. These measures of added prosperity will likely multiply as we go forward. No name calling, no good or evil, no righteous intonations in self-purity just some facts to consider. I offer a partial list of the big players. Small companies usually don’t announce wage, bonus and reinvestment decisions.
Starbucks – will give 250 million dollars in pay raises, company stock and addition benefits to domestic employees.
Jobless Claims – lowest in 45 years
JP Morgan – 20 billion dollar investment across America, up to 400 more branches and more loans to low income Americans
Bank of America – employees making up to $150,000, 140,000 of them will receive $1,00 bonuses.
Apple – will bring back to USA 252 billion dollars in overseas cash and make onetime tax payment of 38 billion dollars
AT&T – 200,000 employees are getting $1,000 bonuses
Comcast – 100,000 employees get $1,000 bonuses or pay hikes
Wells Fargo – minimum wage increase of 14% from $13.15 to $15
Wal Mart – $1,000 bonuses and minimum wage increase of 18% from $9 to $ 11.
American Airlines – 130,000 employees $1,000 bonuses
Fiat Chrysler – 60,000 employees will receive $2,000 bonuses and a manufacturing plant will be moved from Mexico to Michigan.
Toyota and Mazda – locate new 1.6 billion dollar auto plant employing 4,000 people and producing 300,000 vehicles in Alabama.
5th Third Bank – 13,500 employees will receive $1,000 bonuses and minimum wage will be raised to $15.
Jet Blue – 21,000 employees will receive $1,000 bonuses
South West Airlines – all full time employees will receive $1,000 bonuses, pledged to buy more planes from Boeing and 5 million to charities.
Pepco – lower utility rate for 296,000 D.C. residents
Pepco and Delmarva Power – lower rates for 500,000
Baltimore Gas and Electric – 82 million dollars in rate reductions
Pacific Power – 740,000 residents in Washington and Oregon get rate reductions.
Rocky Mountain Power – 1.1 million people in Utah, Wyoming and Idaho get rate reductions.
Commonwealth Edison – 200 million dollars in rate reductions in Chicago and Northern Illinois.
Visa and Aflac – increase 401(k) employee match
This represents the power of organic economics. Did I just coin a new phrase? I give you economics with no artificial ingredients, grown in fertile, free and unencumbered all-American soil. Prosperity’s secret comes not as the result of mandated government wages or regulations but when a free market with lower taxes and only necessary regulations is left in the hands of the American people. Unlike the class warfare rhetoric from the likes of Bernie Sanders and Elizabeth Warren, we are witnessing organic economics delivering prosperity to millions of working Americans. When its words verses results, I’d go with results every time.
I have no desire to label Madame Pelosi et al anything other then alarmist progressives (not evil) out of touch with how to create prosperity. Is this not obvious as she characterized this Bill as Armageddon? All I have done is report the facts with not one smidgen of emotion. Keep your eyes on the business pages throughout 2018. Chances are the results of organic economic policy will fill those pages with dozens of additional positive indicators, as free markets are allowed to work uninhibited. Conservative organic economics works. My God, it actually maximizes opportunity for all Americans in the most efficient and effective ways ever devised. Sounds like the opposite of Armageddon.