Will a corporate tax cut lift worker pay? A union wants it in writing
WASHINGTON — At the heart of the Republican tax plan hurtling through Congress is an implicit promise that cutting corporate taxes will lift the middle class through higher wages and more jobs.
House Speaker Paul Ryan, for example, said in a recent speech that “fixing the business side of our tax code is really all about helping families and workers,” adding that “cutting the corporate tax rate means more jobs here in the United States. It will foster increased competition, which will directly drive up wages for our workers.”
Yet few U.S. companies have offered specific plans that support those promises. While many chief executives broadly praise Republicans’ efforts to cut taxes, few have detailed how they would deploy the savings from a corporate tax cut or put more money back in workers’ pockets.
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This week, the Communications Workers of America asked several companies that employ its members to promise to give workers a pay increase if the cut in the corporate tax rate goes through. The request, while unlikely to be heeded, highlights a critical question over who would benefit the most from the tax bill: shareholders or workers?
Read more: https://lasvegassun.com/news/2017/nov/25/will-a-corporate-tax-cut-lift-worker-pay-a-union-w/
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