How Comcast Is REALLY Spending Tax Break Money
Comcast wants you to believe they’re investing their tax windfall into their employees. There’s just one problem. Cenk Uygur and John Iadarola, the hosts of The Young Turks, show you where that money is really going. Tell us what you think in the comment section below.
Read more here: https://thinkprogress.org/comcast-tax-windfall-ad6cbf125028/
“In December, Comcast announced that based “on the passage of tax reform” it would award a $1,000 bonus to about 100,000 employees. That’s a total expenditure of $100 million.
That sounds like good news for the company’s workers. But it is not, principally, how Comcast is spending its tax windfall.
On Wednesday, in a press release that does not mention the GOP’s recent tax overhaul, Comcast announced massive expenditures on dividend payments and share repurchases. The company said it would increase dividends to shareholders, which totaled $2.9 billion in 2017, by 21 percent. That amounts to an additional $609 million in dividends. Comcast also plans to spend at least $5 billion, and as much as $7 billion, on repurchasing its own stock.”
Hosts: Cenk Uygur, John Iadarola
Cast: Cenk Uygur, John Iadarola
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)
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