Home | About | Donate

Thanks to Trump Tax Cuts, Major Corporations Set to Spend 'Obscene' $1 Trillion Rewarding Investors Instead of Workers


#1

Thanks to Trump Tax Cuts, Major Corporations Set to Spend 'Obscene' $1 Trillion Rewarding Investors Instead of Workers

Jake Johnson, staff writer

As even one member of the Republican Party was forced to admit earlier this week, President Donald Trump's $1.5 trillion tax cut has done virtually nothing for the vast majority of American workers—but evidence continues to roll in that it has been a massive boon for the largest corporations.

"This is more proof that the Trump tax scam was never meant to benefit workers. It was designed to benefit the wealthy, rich CEOs, and big corporations."
—Americans for Tax Fairness


#2

“It’s a big club, and you ain’t in it. You and I are not in the club.”
–The late Great George Carlin


#3

Here is a detailed look at a survey showing how Corporate America plans to spend its new tax windfall:

With only 19 percent of American corporations planning or considering increasing pension plan contributions as a result of the new lower corporate tax regime, it looks like it’s going to be a cat food future for millions of American workers thanks to the poorly funded defined benefit pension plans that Corporate America has created.


#4

How much of this tax-scam Windfall will be used by corporations to buy
more of our government and representatives?


#5

Indeed, he was great. He also said -
“The reason that they call it the “American Dream” is because you have to be asleep to believe it.”


#6

Well golly I just don’t know how anyone could’ve predicted this … it’s so bizarre and so contrary to all historical evidence … my my isn’t that amazing.


#7

“Historical evidence” remains unchanged for the past 242 years wherein US corporate law requires corporations to act in the best interest of their shareholders or face shareholder law suits that they inevitably lose.

Corporations act in the best interest of workers and customers ONLY when regulations or competition forces them to.

The more politicians they own the more they can prevent competition and the less interest corporations have in their workers and customers.

As Senator from Illinois Dick Durbin reminded us in 2004, for at least the past two decades corporations have owned enough US politicians to control the US gubmit. The 21st century has seen them buying more and more politicians abroad so they can control ALL gubmits around the world.


#8

i don’t know, have you seen the price of cat food lately:)


#9

I would have expected nothing else.


#10

Boy howdy, never saw that comin! Who woulda thunk it!?

The really wild thing is all the kool-aid trumpers that are gettin screwed by his lies and rotting stench every goddamn day are still lapping up his malignant hate-filled garbage and environmental destruction that is and will continue to diminish their lives, health, prospects and that of their children…there has never been as ignorant, greed-driven, and ill-educated fool in such a position of great power…well, you can fool some of the people some of the time, and in this case it appears the trump con is fooling some of the people most all the timeSo, wake up to your only logical conclusion!


#11

The electoral college that has rigged every POTUS election for the past 230 years enables Trump and his ilk to “fool some of the people some of the time” and still win elections.


#12

The club is called Capitalism.


#13

Note that the decline began in the neoliberal Obama Era when the Dems controlled both houses of Congress. The trump debacle plays on a precedent set a decade ago.


#14

Every POTUS since Saint Ron ascended the throne in 1981 enabled the Trump/GOP 2016 power grab that is stacking all levels of federal courts to the extent that any Congressional legislation the 1% doesn’t like will be overturned by right wing judges, many of whom will still be on the bench 40 or years from now.

Obama did indeed keep the 99%'s downward spiral going just as fast as his four predecessors, prompting many Murkins who voted Obama in 2008 and 2012 to vote Trump in 2016.


#15

What in the hell will it take! We do not need any more proof, we need action! Only the most uninformed; politically, naive and ignorant would call this informative. .


#16

I know an Apple retail employee, they told me that the bonus workers get takes 3 years to fully vest, so if they can afford to work there long enough, they may be able to spend it.


#17

So, is anyone really surprised?

What a damn fool (below). (Nope, this isn’t a US company so it didn’t benefit from Trump’s tax cuts for billionaires – it just shows how well the US exports corporate greed.)

As far as gaffes go, it’s pretty priceless: A CEO waiting to discuss his company’s new $10 billion deal in an ITV News interview was filmed singing "We’re in the Money." Mike Coupe, the head of Sainsbury’s supermarkets, was captured quietly singing, “We’re in the money, the sky is sunny, let’s lend it, spend it, send it rolling along.” He has since apologized for his “unfortunate choice of song” and said he was simply “trying to compose myself before a TV interview.”


#18

I don’t remember having voted for it.

Until we can vote by cellphone with blockchain and encryption, expect this.


#19

This article once again forgets the fundamental aspect of savings and investment. The money that is flowing to shareholders isn’t being stored under everyone’s couches. It is being recirculated back into the economy in other ways, either by purchasing other goods and services or investing in other companies. Even if the money is just sent to a bank account, the bank will lend it out…i.e. invest it.

The real question is just whether those earnings that the company made should be retained by individuals who earned it, or taxed to the state to redistribute it. That’s the only question. Which is more efficient? Which is more morally fair? I believe the evidence and morality points to the answer being that, as much as possible, individuals should be allowed to retain most of their earnings. But that’s where the debate should be. Claiming that this tax reform legislation didn’t help one group and help another, or that it won’t lead to investment, simply doesn’t understand basic economics.


#20

Neck Deep in Trump’s Washington Swamp

The levels of corruption in this administration are simply staggering, and they range from open self-enrichment to openly selling policy to the highest bidder. The completely accurate sense that Trump and his party are out to get themselves and their friends rich is the administration’s gaping vulnerability. What’s especially odd is that nobody in the administration seems to have taken even cursory steps to address or paper over this weakness. They’re all just grabbing as much cash for themselves and their allies as they can, while they can.

https://www.dcreport.org/2018/04/26/neck-deep-in-trumps-washington-swamp/