Under President Trump and the Republican Congress, the corporate class has reaped ever more of the rewards of America’s growth, while the rest of the country has gotten screwed, again.
Consider the GOP’s $1.5 trillion tax cut—the sole legislative “victory” of this administration. The law was plainly written to deliver the vast majority of its benefits to the wealthy, and corporations immediately seized on the windfall. They have spent hundreds of billions on stock buybacks—which is just another way to give more money to corporate executives, who are already making a killing compared to the average family. Meanwhile, workers haven’t seen benefits trickling down, as Republicans claimed they would. Corporations put 37 times as much of their tax windfall into those stock buybacks as on employee compensation. In fact, only 4.3 percent of workers at Fortune 500 companies got a bonus or a raise in the same span—gains that have been largely wiped out by inflation levels which actually lowered real hourly wages.
If the GOP keeps their majority, the hits against working Americans will keep coming. Republicans have made it clear they want to slash Social Security and Medicare—benefits workers have already paid into—in order to plug the hole their tax cut tore into the budget.
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