The News Will Claim American Express As An Example of Trump Failure

THE MEDIA HAS BEEN NEARLY ALL BUT SILENT IN REPORTING THOSE MULTITUDES OF COMPANIES WHO HAVE REPORTED EMPLOYEE BONUSES AND WAGE INCREASES DUE TO THE TRUMP TAX CUTS. But you can bet there is one story that will make their news all day, and probably for a week or more, and that's American Express announcing that due to a $2.6 billion increased charge in taxes due to the Trump tax cuts, they will be suspending their share buyback program.

I say this even though in the eyes of liberals those share buybacks are just for the greedy shareholders anyway—that's not why they'll hit this one full force.

It's a negative story in their eyes, and they'll want to point this out as the leading example that they are right and the GOP is wrong that the tax cuts will benefit anyone. Even though STILL American Express has also said that they feel the tax cuts are a benefit in the long term, good for the company, and good for America.

The news media will assuredly leave that part out, or not highlight it nearly as much. It's what they always do.

Just another reason to make sure that when you are following any news source, it is not the only news source. And you also have to make sure to cut through the smoke to get to the real truth of the matter. Why is American Express incurring the extra charges? In a nutshell it is related to how they were dealing with accounting under the old tax laws—and as a result their capital ratios changed.

What else will not be reported? Invariably and assuredly the fact that they will also be making incremental contributions to their employee profit sharing plans to adjust for the differences. In other words...

American Express is eating the expense and NOT putting the burden on the backs of the people who work for them.

There is really nothing at all negative about this story at all. No one is getting hurt. Not really. But I bet you the news will not tell you that. I'd be willing to wager a bet in fact. Just watch, wait, and see. It'll be all they can talk about and point to when they get their panels gathered to talk about the evil corporations and the "Armageddon" Nancy Pelosi warned us about.