With every passing day, it becomes clearer who’s reaping the benefit of the huge tax cut handed over to American corporations by the Republican-dominated Congress in December.
Spoiler alert: Not workers or customers, but shareholders, especially the rich ones. (Don’t be fooled by those $1,000 bonuses handed out by a few big companies anxious to curry favor with the Trump White House — if they were serious about improving their employees’ lot they’d distribute the money in the form of permanent raises, not a bonus that you can safely bet will be a distant memory by this time next year.)
The big drug company Pfizer seems intent on being a pace-setter in cranking out the benefits of the tax cut to stakeholders who need them the least. In an announcement over the weekend, Pfizer said it was shutting down its research efforts on treatments for Alzheimer’s and Parkinsonism. The company didn’t say how much it was spending on the two conditions, but said about 300 researchers will lose their jobs as it redirects its research and development budget elsewhere.