As Donald Trump celebrates Labor Day by proposing to slash taxes for CEOs such as himself, it may come as a shock that a president who was previously best known for firing people on TV might not have been completely sincere in his promise to put “American workers first”.
And like most things he says, it’s hard to tell what that’s supposed to mean. This is the same man who, as a candidate, said US workers’ salaries were “too high”, something even the most reactionary politician knows not to say out loud.
So when he proclaims that “lower taxes on American business means higher wages for American workers”, the fact that this statement is demonstrably false is beside the point: as a new report from the Institute for Policy Studies shows, the job growth rate for corporations that paid the least amount in taxes over the past eight years was negative 1%, compared to 6% for the private sector as a whole; businesses for the most part spent tax breaks not on job creation but on stock buybacks and executive pay.
It’s also beside the point whether Trump actually believes corporate tax cuts benefit workers. They benefit him, and the people he goes golfing with, and that’s all that matters. This is a president who embodies rent-seeking at its purest.