So when he proclaims that “lower taxes on American business means higher wages for American workers”, the fact that this statement is demonstrably false is beside the point: as a new report from the Institute for Policy Studies shows, the job growth rate for corporations that paid the least amount in taxes over the past eight years was negative 1%, compared to 6% for the private sector as a whole; businesses for the most part spent tax breaks not on job creation but on stock buybacks and executive pay.
It’s also beside the point whether Trump actually believes corporate tax cuts benefit workers. They benefit him, and the people he goes golfing with, and that’s all that matters. This is a president who embodies rent-seeking at its purest.
Consider the Department of Labor, an otherwise low-profile department targeted in Trump’s budget proposal for a 21% funding cut, the largest of any federal agency after the Environmental Protection Agency and State Department.
The Department of Labor is known mostly for enforcing overtime and minimum wage rules under the Fair Labor Standards Act, and probably wouldn’t be on Trump’s radar were it not for the fact that it has hit his businesses with 24 violations for failing to pay workers.
Trump’s original pick to run the department, Carl’s Jr CEO Andy Puzder, shared with Trump a long list of FLSA violations; his fast food business is one of the worst offenders in an industry well known for ripping off workers.