Despite Republican claims, the Trump tax is not trickling down to workers. In fact, only 2 percent of Americans say they have benefited at all from the Trump tax.
The vast majority of Americans have not seen any benefit from the Trump tax.
The Hill: “Only 2 percent of American adults reported receiving a bonus, a bump in pay or another perk due to the Republican tax overhaul passed in December, a new survey found.”
The Trump tax will not trickle down to workers – 80% of companies say they don’t plan to give any raises at all.
MarketWatch: “The U.S. tax bill signed into law in December will have a limited effect on the U.S. economy, as companies are unlikely to spend their tax savings on growth initiatives while the tax cut for the wealthy will not trickle down.”
Bloomberg: “Only 4 percent of companies said they had ‘increased wages for all employees’; an additional 3 percent said they planned to do so in the next year. While an further 13 percent said they’re ‘considering taking action this year or next,’ a full 80 percent of companies aren’t considering giving raises at all.”
If Trump and Republicans were serious about helping workers, they wouldn’t have given almost all the benefits to the wealthy and big corporations.
New York Times Editorial Board: “If President Trump and the Republicans in Congress were serious about helping workers via the tax code, they had obvious options open to them: They could have cut taxes on the middle class and expanded the earned-income tax credit for poorer workers. Instead, they chose to write giant checks to big investors on the accounts of future generations.”