Robert Reich on Nostr: Trump’s tax law cut the corporate tax rate from 35% to 21%. What did corporations ...
Trump’s tax law cut the corporate tax rate from 35% to 21%.
What did corporations do with the money saved?
They didn’t invest it or raise wages.
They spent a record $1 trillion on stock buybacks the year after the law went into effect.
Nothing trickled down to workers.
Published at
2024-07-06 17:34:04Event JSON
{
"id": "3fb02765bdf44d22c81edac1b77fd71d66ca3589d54e167213d62055167482d2",
"pubkey": "349da8cac32e996b69450a0ce3dab9dc9ea62b996dd2970f1e533ed8981b30e1",
"created_at": 1720287244,
"kind": 1,
"tags": [
[
"proxy",
"https://masto.ai/@rbreich/112740744826948931",
"web"
],
[
"proxy",
"https://masto.ai/users/rbreich/statuses/112740744826948931",
"activitypub"
],
[
"L",
"pink.momostr"
],
[
"l",
"pink.momostr.activitypub:https://masto.ai/users/rbreich/statuses/112740744826948931",
"pink.momostr"
],
[
"expiration",
"1722879996"
]
],
"content": "Trump’s tax law cut the corporate tax rate from 35% to 21%.\n\nWhat did corporations do with the money saved?\n\nThey didn’t invest it or raise wages.\n\nThey spent a record $1 trillion on stock buybacks the year after the law went into effect.\n\nNothing trickled down to workers.",
"sig": "5704199d6800b59960416514339f7c01bf1f4fda9cdfae835adc3e3c371039b2c131a87242342092d79602dffbfc7763361208150bf3db1c9e4b8ad1722ef53e"
}