Workers Never Got Those Bonuses Trump Promised with Tax Cuts

Donald Trump’s signature tax cuts may have purportedly been an effort to put wealth back in the pockets of the average working American, but that hasn’t panned out. Specifically, the president championed that companies would be sharing the wealth with their employees via bonuses, however, two years later, those bonuses are not emerging.

According to Bureau of Labor Statistics, worker bonuses are down a full 24 percent in the span since the Trump tax cuts. That’s actually the biggest drop in bonuses since 2005 – which is far from the outcome we were promised.

To be fair, there was a short spurt of bonuses in the weeks following the tax legislation. Some corporations took the opportunity to award bonuses then (at rates commiserate with 2014’s figures, mind you) though the $1.38 billion in bonuses pale in comparison to the $1 trillion the government lost by instituting the cuts.

It’s important to note that those bonuses were not repeated the next year. In other words, the companies are already taking for granted that extra revenue from the cuts, and aren’t paying them forward to employees anymore. Some employees got a modest bonus once, while the CEOs and shareholder reap the actual benefits indefinitely.

Before anyone asks, yes, Trump did promise massive bonuses. On the same day he signed the legislation into law, he claimed that there would be “big companies and corporations showering their workers with bonuses.” The following year, he boasted, “Millions of Americans are receiving large bonuses and bigger paychecks than they’ve ever received because they have so much money that they didn’t even know they were making.”

In fact, it’s the rich who are making boatloads of money. As we learned last week, the wealthiest people/corporations in this country are now making so much money that they’re not even sure how to use/invest it, and are therefore hoarding more of it than ever before.

This latest news on bonuses is pretty much in line with other findings on other aspects of the Trump tax cuts. The idea that the cuts would pay for themselves in economic stimulus is off by 95 percent. The notion that extra money would inspire companies to hire more people has also gone out the window.

Essentially, the middle and working classes are not feeling the “trickle down” effect they were told because the rich are keeping that money for themselves, which – if we’re being honest – was probably the real plan all along.

582 comments

Rhoberta E
Rhoberta E4 hours ago

brian f
LIKE darlene, you neglect to READ !!!
IF you WERE ABLE to read or comprehend, you would ALSO see that I have said on EVERY post concerning MY country that we could do better !!.
You and darlene just want to cause trouble just like pam w stated about trolls like you.
The other difference between us is that I DO my homework here in Canada and research ALL candidates both locally, Provincially and Federally. Unlike the both of you who just WHINE. How many TIMES do I have to say I would like all US citizens to HAVE health care but I'm just not sure your way is the right way for all.
It's only YOU and your wannabe friend pushing back because you don't have anything else..
You are both liars when it came to being "vegan". darlene knows absolutely NOTHING about health care and is against common sense.
You are both wannabes and THAT has been apparent for years here. Just ask all the members you both helped to get banned from C2 with just this type of phony debate.
Basically all you BOTH do is "NOTHING". Try acting in your community and saying what you do for good. Glass always half empty.

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Brian F
Brian F6 hours ago

Rhoberta E If you're so bothered by people criticizing the corruption in both the USA and Canada, then why bother to post on this site? When 45,000 people die each year in our country because we are the only nation that allows our criminal health insurance industry to rip people off, so they can make billions of dollars, and most of the Democrats are refusing to support Medicare for all, then how can I or anyone remain silent about it? When your leader Trudeau supports the horrible Tar Sands dirty oil expansion, people cannot be silent about it. The purpose of Care2 is to call out corruption, and criticize those people in power who make bad decisions that hurt us all. You seem to be defending this corruption committed by those in power, by constantly attacking people who bring it up. Trump is a crook and a liar, but so are most of the Democrats like Nancy Pelosi who refuses to support Medicare for all, free colleges, and a Green New Deal. In addition Nancy Pelosi like most Democrats and all Republicans takes corporate money. So by only criticizing this crook Trump and ignoring all the corruption in both parties, you are turning people off, which is why people are pushing back on your false narrative. Evil triumphs when good people to nothing. By you attacking those who criticize the corruption of those people in power, you condone this corruption and become dishonest like those people in power who are corrupt.

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Rhoberta E
Rhoberta E7 hours ago

darlene buckinham
YOU and those LIKE you make me queasy. YOUR glass, like brian's, is always half empty . Those in the US WITHOUT insurance would give anything to have what we have in our health care system but of course YOU know better don't you darlene. We have SEEN how much you really know ABOUT health care period. I would also tell you to go beck to where you came from like trump did but unfortunately you DO live in Canada. There's nothing about you that is proud of our country.

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Darlene Buckingham

You are happy with the job Trudeau is doing!? I am proud to be a Canadian but our politicians are not doing a good job of taking care of Canada. The health care system is also having a lot of problems. Long waits and inadequate care. We are in the weeds with the US whether you want to face that or not. Everything is not rainbows and unicorns in Canada.

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Janet B
Janet B9 hours ago

Thanks

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Rhoberta E
Rhoberta E11 hours ago

I am PROUD to be a Canadian and it's really too bad that someone would equate our country WITH the problems the US is having. Sort of makes you wonder doesn't it.
I don't want my country tainted by the US political , environmental, humanitarian aspect that I am so proud of. Is it perfect ? No. Can we do better? You bet but not with the attitudes of some here. I hope when now we are able to offer most Canadians affordable health care, an extremely high level of education , affordable Rx and so much more we build on that and not get into the weeds with the US.

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Rhoberta E
Rhoberta E11 hours ago

darlene buckingham
JUST LIKE brian f
It's really a shame that someone like YOU who spouts peace and "love" has such a bitter streak. It's YOUR responsibility AS a Canadian to do your homework and quit being such a debbie downer. As you so "wisely" say (NOT) all politicians are racist and folks just like YOU make it a contagious thing. Maybe you and brian can be "immunized" against such bitterness.
KUMBAYA, darlene !!

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Darlene Buckingham
Darlene Buckingham11 hours ago

In the meantime make better choices that don't support the corrupt systems that harm life and LIVE in a more sustainable way.

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Darlene Buckingham
Darlene Buckingham11 hours ago

Canada is not any better than the US. We have been duped to believe that if we have the vote that we can pick a wise leader. And how is that working!? Trudeau is no different than Harper. Scheer is such a wonderful man! HA. Who are you going to vote for that will make a difference? The political systems have to change and politicians held accountable rather than the illusion that our votes change anything. What a scam and people fall for it every time, fighting and arguing who is going to be the lesser evil when the lesser evil is still evil. That is what I continue to advocate for - reforms to the political systems and greater accountability. If more people advocated for this we wouldn't have the choice between Clinton or Trump, Trudeau or Scheer. In the meantime make better choices that don't support the corrupt systems that harm life and life in a more sustainable way.

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Brian F
Brian F17 hours ago

Most Democrats voted to give this crook Trump his 750 billion dollar military budget, and most Democrats are lock step in supporting Israel and giving it 10 million dollars a day so it can oppress the Palestinians. Most Democrats also refuse to support Medicare for all, free colleges, and a Green New Deal, so their really isn't much difference between both corrupt parties. Corporations own both corrupt parties and our media. We need honest leaders who take no corporate money like AOC, Tulsi Gabbard and Bernie Sanders. Most of the politicians from both parties are corrupt and take corporate money. When 45,000 people die each year because the USA is the only nation that allows their criminal health insurance industry to run their healthcare, any politician from either party that refuses to support Medicare for all, should be terminated.

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