6 Months In: Trump Tax Law Sold Out Workers While CEOs Cashed In
June 20, 2018
It’s been 6 months since the Trump tax law passed. It’s more clear than ever: Trump’s tax law sold out workers, while CEOs and wealthy corporations cashed in.
Wages have gone down for most workers since the Trump tax law passed.
Despite Trump and Republicans’ promises, real hourly wages for most workers have actually declined since the passage of the Trump tax law.
While Americans face higher costs of living — including from rents, health care premiums, drug prices, and higher gas prices — wages have not kept up.
But, the CEOs of big corporations are paying themselves millions more.
According to the SEC, CEOs have cashed in on stock buybacks fueled by the Trump tax breaks to boost their own compensation by tens of millions of dollars.
Last year, median CEO pay for the largest U.S. companies hit an all-time high.
Corporations are paying wealthy shareholders a record amount of money.
Corporations are poised to shower their wealthy investors with a $2.5 trillion gift.
Corporations are using the Trump tax law to benefit their wealthy shareholders with record stock buybacks, up 83 percent so far this year.
Americans see the reality of the Trump tax law. Six months in, it’s increasingly unpopular.
Overall approval for the Trump tax law remains underwater and continues to trend downward: approval has fallen 10 points since its peak at 44 percent in January.