Corporations Confirm That Republican Tax Cuts Won’t Result In Employee Raises

According to a new analysis by CNBC, most corporations in the US that will be receiving massive tax cuts from the Republican Party admit that they have no plans at all to spend that money on their employees. This lays to rest the Republican talking point of trickle down economics, but don’t expect them to stop screaming that trickle down works. Ring of Fire’s Farron Cousins discusses this.

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According to a new analysis by CNBC, a majority of Fortune 100 companies receiving those massive Republican tax breaks have absolutely no intention whatsoever of using that money to either give their employees a raise or to reinvest it into the economy or into the company. Basically, what they're saying is that, "We're going to keep all this tax cut money and redistribute it amongst our shareholders. We're going to give it out in bonuses to the people at the very top, who also, coincidentally, are getting massive tax cuts from the Republican policy.

Now, the Republicans, while they were trying to sell this tax cut package to the American public ... In fact, Paul Ryan still talks about this on Twitter every single day. They're telling us that we're all getting raises. We're all going to make more money. Look at all these companies that just gave out a one-time, $1000 bonus. I mean, hell, that counts, right? Well, according to the CNBC analysis, those companies that gave employees that $1000, one-time bonus, that actually does count as giving employees a raise, even though it's a one-time thing, not gonna happen again, and the CEOs are still pocketing millions upon millions of dollars from this tax break.

So here are just a few of the companies that have confirmed that they do not have any plans to use their tax cut money to give their employees raises. Alphabet, Pfizer, Coca-Cola, Oracle, Sysco, Walt Disney, 3M, Altria, Pepsi, Facebook, Phillip Morris, Abbott Labs, MasterCard, Berkshire Hathaway, IBM, Morgan Stanley, JP Morgan Chase, Microsoft, Citigroup, Exxon, Amazon, Home Depot, Accenture, Invidia, Chub, Johnson and Johnson, Chevron, Intel, Verizon, the list goes on and on. These are all Fortune 100 companies who are absolutely getting this tax break.

These are multi-billion dollar corporations that have no need for any extra money. They have so much money that when you give them more, they're telling us that they're just going to keep it themselves because they don't need or they don't want to reinvest it into their employees, or into expanding their business. Because in most cases, their businesses are already big enough. So the next time you hear a Republican politician that you're about to get a massive raise, do not believe it for one second, because these corporations have already told us you're not getting that tax cut money.