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Southwest Airlines Loves The New Tax Plan, And They're Showing Employees Just How Much

Just before the holiday break, President Donald Trump put his signature on the long-awaited GOP tax plan. This brought to a close months of hand-wringing from both sides of the aisle, as there were a number of times that it looked like the plan was dead in the water in spite of the fact that the GOP has a clear legislative majority.

All the while, there was an endless amount of pontificating from politicians, political commentators, and general observers about the pros and cons of the plans.

In a nutshell, many on the Right feel that it’s the greatest thing since sliced bread. More money in the pockets of the average taxpayer can further stimulate the economy, and making things less onerous for employers may also encourage them to make further investments in US workers.

On the Left, the reaction was markedly different, and the plan was presented as if it was the worst things in the history of things. So which one is it?

As always, we will ultimately have to wait and see about that. Politicians and commentators love to tout their psychic capabilities and tell us exactly how things are going to turn out, but the cold hard reality is that they have no idea.

On paper, there are several pros and cons. One of the biggest pros is larger paychecks for most workers, while one of the large cons is the impact on those that live in highly-taxed states to begin with.

For the final word, we’ll have to see how things turn out through the course of 2018.

That said, early returns are pretty promising. A number of large companies immediately stepped up to the plate to show their enthusiasm for the new plan by dropping bonuses on employees.

As Independent Journal Review shares, Southwest Airlines has added their name to the list and provided employees with a post-Christmas surprise.

“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,” CNBC tweeted.

Southwest Chairman and Chief Executive Officer Gary Kelly released a statement on the plan itself, and it sounds like the company is completely on board.

“We applaud Congress and the President for taking this action to pass legislation, which will result in meaningful corporate income tax reform for the transportation sector in general, and for Southwest Airlines, in particular,” the statement read in part.

“We are excited about the savings and additional capital, which we intend to put to work in several forms—to reward our hard-working employees, to reinvest in our business, to reward our shareholders, and to keep our costs and fares low for our Customers.”

It’s been pretty awesome to see a number of companies sharing the wealth with employees in the wake of the new plan, and we’ll hold out hope that will continue as opposed to using the windfall for increased compensation for already highly-paid executives.

When employees are benefitting directly and seeing immediate dividends from the plan, it’s a pretty tough sell to present the plan as a bad thing. As for those that live in the aforementioned highly-taxed states, perhaps its time for those citizens to put some pressure on local officials to provide a lot more bang for all of their bucks.

Source: Independent Journal Review
Photo: Wikimedia Commons, CNBC/Twitter, YouTube

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