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Corporate tax cuts didn’t trickle down

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Republicans claimed that their big corporate tax cut would raise wages and bonuses for workers. How’s that looking now? Surprise! Not so hot.

The Economic Policy Institute is out with two key pieces of research on this question, and by two different measures, the corporate tax giveaway failed to deliver for workers. For one thing, Republicans claimed the move would lead to increased investment, which would trickle down to workers. In fact, investment growth has stalled. “That’s not to say that the TCJA itself stopped the upward trend in investment growth,” Hunter Blair writes, “but it sure is nothing like the investment boom its proponents promised.”

Second, right after the Republican tax law passed, a bunch of corporations announced bonuses for workers. It looked like a corporate PR move to benefit Republicans … and it was. “The average bonus for 2018 was just $0.01 higher than in 2017,” Lawrence Mishel writes, drawing on Bureau of Labor statistics.

This blog was originally published at Daily Kos on April 20, 2019. Reprinted with permission.

About the Author: Laura Clawson is labor editor at DailyKos.


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