LETTER Companies need to invest in workers
The new tax reduction for large companies is supposed to increase the amount of work and investments that companies will make in America. However, most analysts believe the money will be used for stock buybacks. If that is true, the tax reduction does nothing for the American worker.
This is where unions have a chance to impact America.
Watch to see which companies start to buy back stock. It is time for unions to use their collective bargaining power to demand that this money be used for increased wages, or new product investments.
Just a few weeks ago, Gary Cohn, the National Economic Council director, was in attendance when The Wall Street Journal asked a group of CEOs whether they were planning to increase their business investment with the new cash windfall they would receive. None of them were.
Unions must help lead the charge and make sure that business leaders use the money in the way President Trump has promised they would. If the people don’t take the initiative, the powerful will continue to give the profits to themselves. We need to help union voices be heard again and support their efforts to increase investment in America.
Mark Pinsley
Allentown