Companies all over America are celebrating the Trump administration’s tax cuts. Corporations including AT&T, Bank of America, Boeing, Sinclair, and many others, are paying large bonuses to employees with the stated purpose of passing on tax savings.
In a press release, Sinclair CEO Chris Ripley said, “We recognize that our employees are our most valuable resource, truly appreciate their combined achievements for our Company and look forward to a very bright future.”
Certainly, confidence in the American economy has increased under the Trump administration, as the stock market continues to reach all-time highs and the Consumer Confidence Index continues to report increases.
The Tax reform bill, which includes a huge corporate tax cut, has completely changed America’s economic favorability internationally. The United States has shifted overnight from having the highest corporate tax rate in the OECD, to having one of the lowest.
— Donald J. Trump (@realDonaldTrump) December 22, 2017
Trump signed the tax bill into law today, December 22nd.
Critics have argued that the bill’s focus on corporate tax cuts will leave the middle class behind, but the bonuses offered to employees around America appear to demonstrate trickle-down economics (i.e Reaganomics or Voodoo Economics) in action.