Former Treasury Secretary Dismisses Tax Cuts As “Gimmicks”

“So I think there’s a lot of appearance management here, and look, the corporate tax cut’s gonna be forever. If the firms really believe this had to do with the corporate tax cuts, why aren’t they committing the bonuses?”

More on Economic Gains for Americans

Summers may view tax cuts and pay increases as a “gimmick,” however, Americans For Tax Reform (ATR) seems to have a contrasting outlook. A report from them reads as follows:

“At least 267 companies have already announced wage and salary increases, bonuses, or 401(k) match increases.”

Some of the aforesaid companies include Nephron Pharmaceuticals, Bank of Hawaii, Starbucks, Walmart, Capital One, and many others. Furthermore, many employees will receive bigger and better 401Ks, company stock, and other workplace perks. Summers did not state whether or not he believes hardworking Americans view the aforementioned economic gains as “gimmicks.”

What Do Americans Think of Bonuses from the Tax Bill?

Unlike Summers, countless Americans have expressed happiness and appreciation for the aftereffects of the Tax Cuts and Jobs Act. The GOP tax bill has received accolades for “boost[ing] incentives” and causing “wage increases, bonuses, pension funding, and capital investment[s].” Ultimately, a considerable amount of people in this country do not view the tax bill as a “gimmick.”