Not everything is crony capitalism

Published January 18, 2018 5:01am ET



With the passage of the tax reform bill, corporations across America celebrated by passing on some of the tax savings they would receive on to their workers. More than a million people have already received bonuses, wage increases, and increased contributions to 401(k) accounts, and that number continues to grow.

While most Americans see this as a positive development, some writers have raised concerns that the corporations in question are rewarding workers as part of a cynical quid pro quo with legislators who passed the tax cut. Though these writers are correct to be concerned about crony capitalism, workers benefiting financially from pro-growth tax reform is not an example of it.

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