Executives Reveal Trump Tax Lies: It’s Won’t Trickle Down To Workers


Trump and Republicans gave massive tax cuts to big corporations that they claimed would eventually trickle down to workers. Now, executives say to forget about broad-based pay hikes and that they also plan to reduce their workforces further.


Axios: Forget about broad-based pay hikes, executives say

Very few Americans have enjoyed steadily rising pay beyond inflation over the last couple of decades, a shift from prior years in which the working and middle classes enjoyed broad-based wage gains as the economy expanded.

Why it matters: Now, executives of big U.S. companies suggest that the days of most people getting a pay raise are over, and that they also plan to reduce their work forces further.

Quick take: This was rare, candid and bracing talk from executives atop corporate America, made at a conference Thursday at the Dallas Fed. The message is that Americans should stop waiting for across-the-board pay hikes coinciding with higher corporate profit; to cash in, workers will need to shift to higher-skilled jobs that command more income.