Robert Reich
Who's really benefiting from Trump's tax cuts? Almost 4 months after the cuts went into effect, the lion's share of the gains are going to those at the top:
1) Wall Street banks handed out $31.4 billion in bonuses last year. That's up 17 percent from 2016, and is 2.5 times the combined annual earnings of all 884,000 full-time minimum wage workers in America.
2) Stock buybacks are through the roof. Since the tax cut became law, buybacks have surged to $88.6 billion. That’s more than double the amount of buybacks in the same period last year, according to data provided by Birinyi Associates.
3) Corporations are on a massive spending spree. Companies have already poured more than $325 billion this year into mergers and acquisitions, the highest level of spending since 2000.
Compare this to the paltry $2.5 billion of bonuses to regular employees that corporations say they’ll dispense in response to the tax law, and you see theses bonuses for what they are – a fig leaf to disguise huge corporate windfalls.
What do you think?
Source
https://www.facebook.com/RBReich/?hc_ref=ARTEPZ-F7p-1rAv7pR6WWUxhT9ovzMzqGZRW7GWfMb4I5tf2oKbLBvTTbIvdsM6VC-I&fref=nf
This blog will focus on political images I have found all around the Internet, though I will intersperse some commentary and quotes that I find interesting.
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