Worker bonuses plummet as corporations rake in billions from GOP tax scam
It is also the #TrumptaxSCAM
Worker bonuses plummet as corporations rake in billions from GOP tax scam
https://shareblue.com/worker-bonuses-plummet-corporations-billions-gop-tax-scam/
By
Dan Desai Martin -
June 19, 2019
Rich corporations got a permanent tax break from Republicans last year, while workers barely got anything.
After a flurry of press releases last year touting all the bonuses that would come when Republicans passed their tax scam, it turns out corporations scaled back on worker bonuses in 2019, and drastically. But they're still reaping the benefits of the GOP tax scam, according to a Tuesday Wall Street Journal report.
Compared to this time last year, worker bonuses have dropped by a stunning 24%, based on data from the Bureau of Labor Statistics (BLS). The drop is the largest decrease on record, dating back to 2005.
Since the tax scam was signed into law in December 2017, Trump and Republicans have highlighted anecdotal evidence from corporate press releases to promote its greatness. In January 2018, for example, the Trump administration praised Walmart for giving out bonuses, even as the company was closing more than 60 stores.
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But now the bonuses "appear to largely have been a one-time windfall," and "were a short-term jolt rather than a sustained change," according to the Wall Street Journal..................................
