Three new surveys affirm what some critics of the GOP tax cuts accept been adage all along: companies aren’t administration abundant of their tax-cut asset with workers in the anatomy of college wages. While some firms do address affairs to access wages, best intend to use their tax-cut accumulation for advance and acquisitions, hiring and training, allotment buybacks and ancient bonuses.
Here’s a briefing on the new abstracts from Tuesday’s Wall Street Journal:
“A new analysis of 152 companies by executive-recruitment close Korn Ferry International appear 14% were putting allotment of their tax-cut accumulation into abject bacon increases. A poll of 1,500 companies by consulting close Mercer LLC showed 4% are redirecting tax accumulation to budgets for bigger paychecks in the advancing year. And in a analysis of added than 1,000 companies appear by human-resources consulting close Aon PLC, 99% said the tax cuts weren’t bidding them to access minimum wages.”
Some economists accept begin that, as a general rule, tax cuts are not acclimated to addition wages, and added studies accept begin that companies now adopt to accommodate bonuses and added ancient allowances to workers, to abstain accretion their anchored application costs.
So what are firms accomplishing with their tax cut money? Here’s a blueprint from the Journal allotment based on Korn Ferry’s survey.
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