“Republicans have doled out more than $50 billion in tax cuts to the wealthiest telecommunications corporations that are sending out pink slips across America. These tax cuts were supposed to lead to new jobs and better livelihoods for working families, not job cuts and lower wages. Even as wealthy corporations make record profits, Donald Trump and congressional Republicans continue to insist the tax bill was a measure for working families–we know that’s not the case.”
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“The CEOs running S&P 500 companies cumulatively took home $10 billion in 2017, an amount that is 44% higher than what is usually reported, according to an Axios analysis of Securities and Exchange Commission filings. The big reason: CEOs cashing in their stock.”
“In a July 24 memo, the liberal coalition Not One Penny contended that Democrats “are extremely well positioned” to win a messaging war on a tax cut 2.0 package and urged policymakers to focus on arguments centered on the ways such a move would benefit the wealthy and jeopardize federal programs like Social Security, Medicare, and Medicaid.”
“Between the first and second quarters of 2018 — after the tax cuts were enacted — real wages fell by 1.8 percent”
“The tax reform hasn’t yet resulted in appreciably higher wages for American workers. Real average hourly compensation actually fell in the first quarter after the tax reform was passed”