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Sep. 16, 2019 6:14 am
UAW workers say they want a cut of the profits.
This is part of the reason
“Over the last year, GM has reported that it’s received a tax cut of about $157 million from cuts to the corporate rate in the new Republican tax code. But rather than use that money to invest in hiring new workers, open new plants, or raise wages, the company has spent nearly $100 million buying back its own shares, a move that almost exclusively benefits top executives and wealthy shareholders. Now after spending $100 million enriching themselves (and paying the company’s CEO $22 million, 295 times more than the average GM employee’s salary), the company’s leadership is claiming it can’t afford to keep its American plants open.”
