Topic: Corporate Bonuses

Former Treasury Secretary Larry Summers dismissed recent corporate bonuses as a "gimmick" designed to curry favor with the Trump administration. Summers argued that companies are using one-time bonuses instead of permanent wage increases despite the permanent nature of the corporate tax cuts. He also claimed that job growth in 2016 under the Obama administration was faster than in 2017.

Following the passage of the new tax bill, major corporations including AT&T and Comcast announced $1,000 bonuses for hundreds of thousands of employees. Additionally, several banks like Wells Fargo and Fifth Third announced they would raise their minimum wage to $15 an hour. Critics suggest these moves were coordinated to demonstrate the immediate benefits of the legislation.