Take the Money and Run: Trump Tax Cuts Boost Earnings of ALEC Corp. Which Promptly Layoff Workers
Nine major publicly-traded corporations that are funders of the American Legislative Exchange Council (ALEC), just reported earnings from the first quarter of 2018. Trump's recent massive corporate tax cuts were sold as a job creation mechanism, but rather than creating jobs, all nine companies reported layoffs that have recently taken place or are planned for 2018.
ALEC, global corporations, and state politicians vote behind closed doors to rewrite state laws that govern your rights. These so-called "model bills" reach into almost every area of American life and often directly benefit the corporations writing or voting on the legislation.
The federal Tax Cuts and Jobs Act of 2017 -- pushed hard by the Koch Caucus in Congress -- lowered the federal income tax rate from 35 percent to 21 percent and the Trump Administration promised that the cuts would cause corporations to invest, expand, and hire new workers, as well as pay bonuses or increase wages.
The Center for Media and Democracy just concluded an analysis of nine companies that are major players in ALEC, showing that even with the tax cut, those corporations have laid off or will lay off employees. Comcast, for example, said it will save $128 million from the tax cut, and announced 500 layoffs. Caterpillar reported that it will pay 9 percent less in income taxes, but also announced it is closing facilities.
http://www.truth-out.org/news/item/44414-take-the-money-and-run-trump-tax-cuts-boost-earnings-of-alec-corporations-which-promptly-layoff-workers
= new reply since forum marked as read
