Don't Thank Trump for Pay Raises Just Yet

Wal-Mart has just announced higher wages and one-time bonuses for most of its workers -- linking the news to the corporate tax cuts signed last month by President Donald Trump. It joins a growing list of companies saying "Thank you" to the president by raising their employees' pay.

The White House is crowing (its celebration only slightly dimmed by Wal-Mart's other announcement, that it's about to close about one in 10 of its Sam's Club stores). Trump said pay would rise, and see, it is; his critics said the windfall would all go to wealthy shareholders, and see, it isn't.