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My big new bill, the Accountable Capitalism Act, would restore the idea that big American companies should look out for their workers, not just their shareholders. Why do we need to pass this bill? Just look at what’s happened since the #GOPTaxScam passed. vox.com/2018/8/2/17639…
The #GOPTaxScam showered more than a trillion dollars on big American corporations – a huge windfall for wealthy shareholders and executives. But workers have seen their real wages go DOWN. washingtonpost.com/news/wonk/wp/2…
Let’s look at some individual companies: @WellsFargo got a $3.4 billion boost from the #GOPTaxScam. It turned around and announced plans to close 900 branches, while rewarding executives and shareholders with tens of billions of dollars in stock buybacks.
.@KCCorp will dole out $700-900 million in stock buybacks to help shareholders & executives while cutting up to 5,500 jobs. @Kroger is closing 14 stores & laying off more than 1,600 people while rewarding its corporate execs & shareholders with $1.2 billion in stock buybacks.
For decades, big companies have made record profits while wages for working families haven’t budged. It didn’t use to be this way. We built America's middle class after WWII. We can get back to the time when American companies & workers did well together. newrepublic.com/article/150695…
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