Source (The Center for Public Integrity) : THE SECRET SAGA OF TRUMP’S TAX CUTS
The bulk of the $150bn the tax cut put into the hands of corporations in 2018 went into shareholder dividends and stock buy-backs, both of which line the pockets of the 10% of Americans who own 84% of the stocks.
Just 6% of the tax savings was spent on workers, according to Just Capital, a not-for-profit that tracks the Russell 1000 index.
In the first three months after the bill passed, the average weekly paycheck rose by $6.21. That would be $233 a year.
The president said in one speech that it would bring the average American household “around a $4,000 pay raise”.
The bulk of the $150bn the tax cut put into the hands of corporations in 2018 went into shareholder dividends and stock buy-backs, both of which line the pockets of the 10% of Americans who own 84% of the stocks.
Just 6% of the tax savings was spent on workers, according to Just Capital, a not-for-profit that tracks the Russell 1000 index.
In the first three months after the bill passed, the average weekly paycheck rose by $6.21. That would be $233 a year.
The president said in one speech that it would bring the average American household “around a $4,000 pay raise”.