Trump’s Tax Cut One Year Later: What Happened? [The New York Times]
AT&T Inc. (T)
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Source: The New York Times
Many corporations made good on promises to raise wages and pay bonuses. But others announced layoffs, even as the $1.5 trillion tax cut added billions to their bottom lines. Dec. 27, 2018 Image Apple employees during the announcement for a new campus in Austin in front of the map showing the layout. Credit Ricardo Brazziell/Austin American-Statesman, via Associated Press There was a point in early 2018 when big American companies couldn’t stop talking about the Trump tax cuts. Flush with the projected savings from a $1.5 trillion law, they promised to raise wages, hand out bonuses to workers and invest in big projects. They scored headlines, along with applause from President Trump. The fawning faded quickly. Analysts noted that the handouts to workers amounted to a relatively small share of the roughly $200 billion in federal income taxes that corporations avoided thanks to the cuts. Wages across the economy ticked up, but not by nearly as much as some
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