With Tax Cuts in Hand, CEOs Admit They Won’t Invest Record Profits in Worker Wage Hikes

(How’s that “trust the plan” thing from “Q” working out? No wonder Youtubers are getting paid to push Trump policies)

by Jake Johnson from Truth Out

As the US’s largest banks post record profits, massive companies continue their unprecedented stock buyback spree, and already-obscene CEO pay packages are set to rapidly expand in the aftermath of the Trump-GOP tax cuts, top corporate executives are now openly admitting that they have no plans whatsoever to invest their enormous windfall into wage increases for workers.

During what Axios described as a “rare, candid, and bracing talk from executives atop corporate America,” at the Dallas Fed late last week, Troy Taylor, CEO of Florida’s Coca-Cola franchise, said of the possibility of broad wage hikes for workers: “It’s just not going to happen. Absolutely not in my business.”

“Of course the GOP tax scam didn’t help working people,” noted Wisconsin congressional candidate Randy Bryce, aka “The Iron Stache,” in response to the Axiosreport. “CEOs would rather pay themselves than pay us.”

And CEOs are not merely conceding that “the days of most people getting a pay raise are over” despite the lofty promises Republicans made after they rammed through their $1.5 trillion in tax cuts. As Axios reports, well-heeled corporate executives are also actively moving to “reduce their workforces further” to cut costs and boost their bottom lines.

“The message is that Americans should stop waiting for across-the-board pay hikes coinciding with higher corporate profit; to cash in, workers will need to shift to higher-skilled jobs that command more income,” Axios summarized…

[read more here]

3 Responses

  1. I hardly ever read Common Dreams or Truth Out anymore, so thanks for pointing to these articles. For once, they actually focus on things which matter. Both of these websites are deeply compromised, imho, but one can occasionally get some actual information. People who follow the financial press, like us, knew this was happening all along, of course. So, nice of them to point out the obvious.

  2. Why wasn’t there more “truth being put out” ahead of these tax cuts?
    Where were the “liberals”, the Progressives, the Moderates, the Democrats, the working class, etc.?
    There are millions and millions more of “us” than of “them”.

    Why are these things allowed to happen?
    How are these things allowed to happen?

    Is the average American too self-absorbed to notice?
    Is the average American too stoned to care?
    Is the average American too lazy to act?

    Sadly, the answer to all 3 questions is….yes.

    Only when a foreign entity takes over our nation will the American populace come out it’s drug induced haze, lift it’s eyes to the reality facing it, and try to act.
    Only, it will be too late.
    The New Order will identify the “dangerous” dissenters and either murder or inter the majority of them.
    Remember your world history : Whenever a nation’s government has fallen, there has always been a Purge, to a lesser or greater extent, of the Intelligentsia (those able to understand what’s going on) and the Brave (those willing to do something about it).

    The Stoners and the Cowards will simply accept it, “fire up” another one, and lament, in private, the passing of the Greatest Nation in the World, the former United States of America.

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