Nancy Pelosi has made headlines for sometimes about trying to demean the thousands of dollars in bonuses that the middle-class workers have been receiving due to the GOP tax cuts. She has called bonuses ‘crumbs’ and made a comparison to the middle class to mice who are stupid enough to fall into a mouse trap. Chuck Schumer decided he would follow Pelosi’s lead.
“What are most companies doing, so many of them, with these massive tax breaks they got? They are announcing stock buybacks that benefits the CEO. It raises their stock and doesn’t help anybody else. Mastercard, $4 billion, Bank of America $5 billion, Pfizer 10 billion, Wells Fargo $22 billion,” said Schumer in a Senate floor speech.
“Many, many more. $100 billion have been announced in stock buyback since the Senate announced its tax bill. When the American people learn that some of them are not getting anything, some of them are getting raises, and the rest are getting crumbs, and big corporations and wealthy individuals are getting nice, fat pieces of pie, they’re going to be outraged. They are already,” said Schumer.
“The truth is these one-time bonuses are a drop in the bucket compared to what corporations could be doing for their workers,” said Schumer.
Even though the middle class is saving a huge amount of money, Schumer believes we should be angry that we aren’t saving more (even though he wants to raise taxes.) We are also supposed to be angry that wealthy people will receive tax cuts as well. His tricks aren’t working.