Thank you FedEx. Yesterday's earnings call.

"So turning to tax reform. I know there are a lot of questions about possible changes for us as a result of that. So let me cover as much as I can. We welcome the possibility of lower corporate tax rate, a territorial tax system and 100% expensing of qualifying capital if these provisions are signed into law. Any capital acceleration for FedEx would primarily be for replacement of equipment and technology. If tax reform is enacted, we expect our uses of cash from tax savings would include: optimizing CapEx to capture the benefits of 100% expensing to further grow the business and create even more upward mobility for our team members; funding our pension plans beyond our current forecast; increasing the dividend as our board may approve; continuing our stock repurchase program at our current modest levels; and investing in M&A where it makes sense. As Raj will discuss, U.S. GDP could increase materially next year as a result of U.S. tax reform. If this occurs, we would likely increase capital expenditures and hiring to accommodate the additional volumes triggered from this incremental GDP growth.


If the Tax Cuts and Jobs Act is enacted as set forth in the Joint Conference Report, we estimate our earnings per share could increase by $4.40 to $5.50 per diluted share for FY '18 before mark-to-market year-end pension accounting adjustments, primarily due to the revaluation of our net deferred tax liabilities. This range also includes an estimated $0.85 to $1 per diluted share due to a lower tax rate on fiscal 2018 earnings for the last 5 months of fiscal '18. As we have stated many times in the past, we would like to see a level playing field for corporate taxes. This tax reform bill would go a long way in making U.S.-based corporations more competitive globally."

We have been hearing this for thirty five years, yet it never seems to play out that way.

Biden is doing a GOOD job.

BUT WHAT ABOUT MY MORTGAGE INTEREST AND PROPERTY TAX! WHO WILL GIVE THOSE THAT DON'T REALLY PAY TAX A BIGGER REFUND!

EIC baby, Negative tax rate. I think Rubio fought for that child tax credit to be refundable too....

Biden is doing a GOOD job.

I will give you this point for now because for me accepting this requires a small bit of faith. I think the world particularly financial is very different then the late 80's. I feel the country and people will be better off in 10 years. Others do not. It really makes little sense to beat this to death as there is nothing that can be done about it.

I guess we will see is all there really is.

I was being facetious. It really aggravates me how the entirety of the tax talking points is misleading.

Yup. It's just political jockeying. Obama was in favor of lowering the corporate tax rate. All the Congressional Dems know it is necessary for long term competitiveness.

It is a great day for the U.S. Economy. 2018 is probably going to be rocky stock market wise as this was a buy on the rumor sell on the news deal (I am guessing). You saw the run-up since the last election in anticipation of this. But longer term, this is huge.

Biden is doing a GOOD job.

Remember when the Republicans were all screaming about the ACA and how bad it was, and the response was "Well, what was your proposal for healthcare reform"?".

Not seeing a Democratic tax reform proposal here....

This thing may not be good. You never really know on any reform. The biggest economic crisis in our lifetime came from what virtually everyone thought was a great reform in the 90s. I think there are a lot of good goals in here and denis has provided that in a very nice manner. Now, maybe it won't work, and we'll change it.

And let's be honest, nothing the Republicans or Democrats do is going to solve the problems of those who literally don't have a 401k. Those people either don't care about retirement savings, or truly can't afford to save for retirement. To act like we should base our entire tax reform around those people sounds nice but would be short sighted.

Biden is doing a GOOD job.

Remember when the Republicans were all screaming about the ACA and how bad it was, and the response was "Well, what was your proposal for healthcare reform"?".

Not seeing a Democratic tax reform proposal here....

The process employed by Republicans did not allow for Democratic input. It was much worse than Obamacare.

Biden is doing a GOOD job.

I will give you this point for now because for me accepting this requires a small bit of faith.

I think the world particularly financial is very different then the late 80's. I feel the country and people will be better off in 10 years.

Others do not. It really makes little sense to beat this to death as there is nothing that can be done about it.

I guess we will see is all there really is.

C'mon don't even pretend the right had input or cooperating spirit in Obamacare.

“You know, it’s a common refrain among the pundits that the fights we have around here are pointless. They’re not. What’s unhealthy is when we neglect the means that we’ve always used to resolve them. That's the real threat to this country, not more debate. And the best mechanism we have for working through our differences and arriving at a durable consensus is the Senate. An executive order can’t do it. The fiat of a nine-person court can’t do it. A raucous and precarious partisan majority in the House can’t do it. The only institution that can make stable and enduring laws is the only one we have in which all 50 states are represented equally, and where every single Senator therefore has a say in the laws we pass here. This is what the Senate was designed for. It’s what the Senate is supposed to be all about, and almost always has been.

“Just take a look at some of the most far-reaching legislation of the past century. Look at the vote tallies. Medicare and Medicaid were both approved with the support of about half the members of the minority. The Voting Rights Act of 1965 passed with the votes of 30 out of 32 members of the Republican minority — all but two. Only six Senators voted against the Social Security Act. And only eight voted against the Americans with Disabilities Act.

“None of this happened by throwing these bills together in a backroom and dropping them on the floor with a stopwatch running. It happened through a laborious process of legislating, persuasion, and coalition-building. It took time and patience and hard work, and it guaranteed that every one of these laws had stability.

“Now compare that to the attitude behind Obamacare. When Democrats couldn’t convince any of us that this bill was worth supporting as written, they decided to do it on their own and pass it on a party line vote. And now we’re seeing the result. The chaos this law has visited on our country isn’t just deeply tragic, it was entirely predictable. And that will always be the case if you approach legislation without regard for the views of the other side. Without some meaningful buy-in, you guarantee a food fight. You guarantee instability and strife. It may very well have been the case that on Obamacare, the will of the country was not to pass the bill at all. That’s what I would have concluded if Republicans couldn’t get a single Democrat vote for legislation of this magnitude. I’d have thought, maybe this isn’t such a great idea. But Democrats plowed forward anyway. They didn’t want to hear it. And the results are clear. It’s a mess.

If I like my investments , can I keep my investments with this bill?

The Republicans should have worked with Democrats to pass this plan, using regular order (not reconciliation) in the Senate. But such is Washington that it would never get done.

If I like my investments , can I keep my investments with this bill?

Biden is doing a GOOD job.

Yeah, this time the money will find its way to the middle class.




Some will. FedEx will be fine. People who live paycheck to paycheck are probably dancing in the streets now that Denis' stocks will continue to grow. Fortunately, we do not live paycheck to paycheck.



When rape is inevitable, lay back and enjoy it.



We know how this will play out. Steve Mnuchin was caught on a hot mic admitting who will benefit from this tax scam. Hint: It's not the middle class.

The Republicans are geniuses for continuing to trick their base into believing that they are just temporarily displaced millionaires.

Biden is doing a GOOD job.

Legislation would get done. But it would take longer than 4 months. Good policy takes time to create.

Biden is doing a GOOD job.

Yeah like 30 years.

President Obama proposed a major overhaul of the nation’s corporate tax code on Wednesday, an election-year gambit that aims to draw a contrast over a key policy issue with the Republicans vying to replace him.

The plan would lower the nation’s corporate tax rate to 28 percent. At the same time, Obama wants to boost overall revenue from corporate taxation by banning numerous deductions and loopholes that save companies tens of billions of dollars a year on their tax bills...

Uh...
https://www.washingtonpost.com/business/economy/obama-to-propose-lowering-corporate-tax-rate-to-28-percent/2012/02/22/gIQA1sjdSR_story.html?utm_term=.2ca3368d7a25

Biden is doing a GOOD job.

C'mon don't even pretend the right had input or cooperating spirit in Obamacare.

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

Subsidized but mandatory insurance purchases was a Heritage Foundation idea

Yes and it didn't pass.

looking at these numbers, the tax refund I'm going to get (as far as I can tell) will literally allow me to not have to work a 3rd job next year. This is fantastic for me. At this point in my life I don't really care what long term effect it has, I just need to get back in the black.

Biden is doing a GOOD job.

Gee, I wonder why ...

Biden is doing a GOOD job.

Subsidized but mandatory insurance purchases was a Heritage Foundation idea

I am not a legal expert, how many times do I have to say it?

looking at these numbers, the tax refund I'm going to get (as far as I can tell) will literally allow me to not have to work a 3rd job next year. This is fantastic for me. At this point in my life I don't really care what long term effect it has, I just need to get back in the black.

I am not a legal expert, how many times do I have to say it?