Trump: 'Fake News Media' Is Blasting Tax Cuts, While Companies Start Spreading the Wealth

By Susan Jones | December 21, 2017 | 8:34 AM EST

President Trump celebrates the passage of tax reform legislation on Dec. 20, 2017. (Photo: C-SPAN screen grab)

(CNSNews.com) - In a Thursday morning tweet, President Trump again confronted the liberal news media for adopting the Democrat line on tax cuts – that they're great for the wealthy but bad for the middle class.

Trump wrote:

"The Massive Tax Cuts, which the Fake News Media is desperate to write badly about so as to please their Democrat bosses, will soon be kicking in and will speak for themselves. Companies are already making big payments to workers. Dems want to raise taxes, hate these big Cuts!"

At a White House news conference on Wednesday celebrating passage of the tax cut legislation, President Trump announced some breaking news:

"This just came out two minutes ago. They handed it to me -- AT&T plans to increase U.S. capital spending $1 billion and provide $1,000 special bonuses to more than 200,000 U.S. employees. And that's because of what we did, so -- that's pretty good. That's pretty good!"

And there's more:

The Boeing Company on Wednesday announced $300 million in "employee-related and charitable investment" as a result of the tax reform legislation.

Comcast made the following announcement on Thursday:

"Based on the passage of tax reform and the FCC's action on broadband, Brian L. Roberts, Chairman and CEO of Comcast NBCUniversal, announced that the Company would award special $1,000 bonuses to more than one hundred thousand eligible frontline and non-executive employees.

"Roberts also announced that the Company expects to spend well in excess of $50 billion over the next five years investing in infrastructure to radically improve and extend our broadband plant and capacity, and our television, film and theme park offerings. With these investments, we expect to add thousands of new direct and indirect jobs."

Wells Fargo announced on Wednesday that it will raise its minimum hourly pay to $15, and it will target $400 million in donations to community and nonprofit organizations in 2018. The company also announced that beginning in 2019, it will target 2 percent of its after-tax profits for corporate philanthropy.

“We believe tax reform is good for our U.S. economy and are pleased to take these immediate steps to invest in our team members, communities, small businesses, and homeowners,” said Wells Fargo President and CEO Tim Sloan.

Democrats, meanwhile, insist that corporations will spend their extra cash on stock buy-backs, executive bonuses, and dividends to enrich investors.

But at the White House on Wednesday, Trump said "many companies" have said "they're so happy," and will be making announcements about employee bonuses and investment just as AT&T did.

"So we're going to see something that's going to be very special. We're bringing the entrepreneur back into this country. We're getting rid of all the knots and all the ties. And we're going to see -- you're going to see, you're going to see what happens. And ultimately, what does it mean? It means jobs. Jobs, jobs, jobs.

"So it's going to be really a very special period of time. We're in a very special period time. And it's going to be even more so," Trump said.


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