Trump's Tax Cuts for the Rich Not Benefiting US Workers


 

Trump's Tax Cuts for the Rich Not Benefiting US Workers
 


16 May 2018 at 7:05:15 AM
salon

Newsweek

But a new analysis of all Fortune 500 companies found only 4.3 percent of workers will receive a one-time bonus or wage increase tied to the business tax cuts, while businesses received nine times more in cuts than what they passed on to their workers, according to Americans for Tax Fairness, a political advocacy group devoted to tax reform. The analysis also found that companies spent 37 times as much on stock buybacks than they did on bonuses and increased wages for workers.

...

The newest projections by the nonpartisan Congressional Budget Office found that the Republican tax plan led to, in part, a 2018 deficit $242 billion higher than previously estimated.

 

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