Larry Mishel: Bonuses Are Up $0.02 Since the Gop Tax Cuts Passed: "the GOP’s Tax Cuts and Jobs Act... tax cutters claimed that their bill would raise the wages of rank-and-file workers.... The Trump administration’s chair of the Council of Economic Advisers argued in April that we were already seeing the positive wage impact of the tax cuts: 'A flurry of corporate announcements provide further evidence of tax reform’s positive impact on wages. As of April 8, nearly 500 American employers have announced bonuses or pay increases, affecting more than 5.5 million American workers.'... New data allows us to examine nonproduction bonuses.... The $0.02 per hour (inflation-adjusted) bump in bonuses between December 2017 and September 2018 is very small.... The White House contention that corporate tax cut-inspired widespread provision of bonuses that led to greater paychecks through bonuses or wage increases for workers is not supported...
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