Jon Queally at Common Dreams writes—Only 9 Percent of Fortune 500 Companies Have Shared GOP Tax Cut Windfall With Workers:
Less than ten percent of the nation's wealthiest and most-profitable companies have shared any of the financial benefits they received from a massive corporate tax cut provided by President Donald Trump and Republicans, a new analysis released Tuesday shows.
According to Americans for Tax Fairness, a coalition of organizations which advocates for progressive tax reform, the numbers in their new analysis revealthat the GOP public relations campaign touting the idea that corporations would be sharing "a big slice of their huge Trump tax cuts with their workers through bonuses and wage hikes is mostly hype."
The ATF analysis, in fact, draws from financial data and public statements compiled by a similarly named (though ideologically opposite) group, the Americans for Tax Reform. The right-leaning ATR has been maintaining a database of how Fortune 500 companies have implemented or altered fiscal policies since passage of the GOP tax cuts at the end of 2017.
"Not only are few big corporations sharing any portion of their tax-cut bounty," the group stated, "but the amounts going to workers pale when compared to how much the companies are getting in tax cuts and to how much they’re returning to shareholders through stock buybacks and dividends (where those figures are available). [...]
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“Science, my lad, is made up of mistakes, but they are mistakes which it is useful to make, because they lead little by little to the truth.”
~Jules Verne, A Journey to the Center of the Earth (1864)
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BLAST FROM THE PAST
On this date at Daily Kos in 2013—‘We pay the same for food, we pay the same for gas … even though we’re getting paid less’:
Recognizing that the fight for fair pay doesn't end the day after the fourth anniversary of the signing of the Lilly Ledbetter Fair Pay Act any more than it ended on any random day in the four previous years, Democratic senators spoke out for the Paycheck Fairness Act on the floor of the Senate Wednesday. Maryland's Barbara Mikulski, California's Barbara Boxer, Michigan's Debbie Stabenow, Washington's Maria Cantwell, and, apparently representing the boys, Alaska's Mark Begich called for the Senate to take up the bill, which would close loopholes in the Equal Pay Act of 1963.
“We pay the same for food, we pay the same for gas and we pay the same for the mortgage even though we’re getting paid less,” Stabenow said. “That’s just not right.” [...] “We’re calling on [Republicans] in the spirit of fairness and justice to give all the women in America the same opportunity as their male counterparts,” Boxer said. “If there is [another] filibuster to this bill, I will not understand it.”
There was, of course, a way to make it much less likely Republicans could or would filibuster the Paycheck Fairness Act and so many other bills, but that ship has sailed and this bill, like all the rest, will have to deal with the obstruction-enabling rules of today's Senate.
On today’s Kagro in the Morning show: It’s the norming of the State of the Uniom! (Hey, that works on multiple levels!) It’s all about the multiple levels today, as we explore Trump’s continued trashing of norms, and our continued doing of nothing about it. We’ve actually had a lot of practice at it!
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