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Tax cut savings flow to company stockholders, trickle to hourly workers

After U.S. corporations got a big tax cut in December, a flurry of announcements touting bonuses and pay raises for hourly employees raised hopes that the cash windfall would keep flowing down to American workers. But the sharing of wealth hasn’t been as generous as hoped. The early payouts, such as one-time awards of $1,000 given to certain workers at AT&T, Comcast and Walmart, and $2,500 in stock awards for Apple employees, were praised by the Trump administration and Republican members of Congress. They trumpeted the awards as examples of how the $1.5 trillion tax cut would result in bigger paychecks for middle-class employees. But the number of companies letting workers know they are getting a bonus, raise or other form of financi ...