Wells Fargo, a company that earns billions of dollars, is about to get billions more thanks to the new Republican tax bill. That’s an increase of possibly $5 billion, based on the $21. 93 billion Wells Fargo profited in 2016.
The current CEO, Tim Sloan, said that money will go to the company’s investors, and not to expenditures like new hiring.
In a presentation to investors, Sloan was asked what the company plans to do with the GOP-engineered windfall.
Despite being handed out billions by the Republican Party, their priorities are clearly to reward those who are already well-off – who even profited from the scandal – and not in hiring people in North Carolina and Pennsylvania.
The Republican tax bill is another in a long line of tax scams, where the only thing that trickles down on to average Americans is more empty promises and deception.