Class Warfare Blog

June 3, 2018

Another “Truth” of the Recent Tax Cuts Bites the Dust

Another “truth” (aka lie) that was used to sell the Republican tax cuts has been laid to rest. That “argument” was that corporations will take their tax savings (the really large ones as compared to the pittance you got) and use it in part to increase the wages of their workers. Wages have either been stagnant or gone down for working class people for decades. I quote one of the post’s quotes: “….The moderator asked the panel whether there would be broad-based wage gains again. ‘It’s just not going to happen,’ [Troy] Taylor, [CEO of the Coke franchise for Florida,] said. The gains would go mostly to technically-skilled employees, he said. As for a general raise? ‘Absolutely not in my business,’ he said.”

The gains from the tax cuts went to executives and to shareholders in stock buybacks (which raise the value of the shares still being held) and the bulk of all stocks are help by the wealthy.

Read all about it: More Evidence of Increasing Deflationary Pressure on Wages

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4 Comments »

  1. And is anyone surprised?

    Liked by 2 people

    Comment by Nan — June 3, 2018 @ 12:31 pm | Reply

  2. I am shocked!

    Liked by 1 person

    Comment by Holding The Line In Florida — June 3, 2018 @ 12:39 pm | Reply

  3. That “truth” was laid to rest even before Trump was elected, as there was a study that showed that the companies paying the lowest effective tax rates also created fewer jobs.

    Like

    Comment by List of X — June 5, 2018 @ 8:35 pm | Reply

    • Apparently the Big Lie is back in a big way.

      On Tue, Jun 5, 2018 at 8:35 PM, Class Warfare Blog wrote:

      >

      Like

      Comment by Steve Ruis — June 5, 2018 @ 9:13 pm | Reply


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