Business News News

Workers with tepid wages come up short on benefits and bonuses, too

Ninety percent of workers should have higher take-home pay as a result of the tax cuts, said John Kartch, vice president of communications at Americans for Tax Reform, a conservative advocacy group.

He pointed to a list of companies providing new benefits and bonuses in response to the tax cuts.

“I’ve spent a lot of time on the phone with small businesses on this list, and I can tell you there is a lot of excitement out there,” Kartch said. “I’d encourage you to reach out to some of them, beyond economists sitting behind desks in D.C. and New York.”

Robert, a manager at a location owned by Darden Restaurants, who asked not to use his full name because he was discussing his job, described the bonus the company gave as a result of the tax cuts as “breadcrumbs at best.”

After taxes, he was left with an extra $300. “I paid an electric bill and went out to eat,” he said.

Darden did not respond to a request for comment.

The reality is that wages, benefits and bonuses are all slow to grow, Mishel said. “Workers are still waiting to see a payoff from the recovery,” he said.

More from Personal Finance
How much the Mega Millions winner will get to save and spend
Are your finances better, worse or the same under President Trump?
Happy 100th birthday! Now, here’s why you may pay surprise taxes

source : CNBC

Related posts

Trump may hold up South Korea trade deal until a deal made with North Korea


Jobs seen strong but March storms could be factor


global arms industry sees first sales uptick since 2010


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.