New Surveys, Same Story: Companies Are Not Using The Trump Tax Law To Benefit Workers
October 3, 2018
New surveys show the same story: companies are not using the Trump tax law to benefit workers, as Trump and Republicans promised they would. In fact, workers’ real wages have actually declined since the Trump tax law was passed.
A new survey shows that 86% of companies are not using the Trump tax law to increase workers’ salaries.
Wall Street Journal: “A new survey of 152 companies by executive-recruitment firm Korn Ferry International revealed 14% were putting part of their tax-cut savings into base salary increases.”
A poll shows that only 4% of companies are passing on some of their massive savings from the Trump tax law to their workers.
Wall Street Journal: “A poll of 1,500 companies by consulting firm Mercer LLC showed 4% are redirecting tax savings to budgets for bigger paychecks in the coming year.”
Another survey of more than 1,000 companies shows that a stunning 99% say they aren’t using the Trump tax law to increase their minimum wages.
Wall Street Journal: “And in a survey of more than 1,000 companies published by human-resources consulting firm Aon PLC, 99% said the tax cuts weren’t prompting them to increase minimum wages.”
Real wages for workers have actually declined since the Trump tax law was passed.
Politico: “According to BLS, gains in full-time median weekly earnings lagged inflation during the first six months of 2018 compared to one year before, and also during the last three months of 2017.”