Oh look ,
Real worker wages have FALLEN since the tax cuts took effect. All that Growth is still not happening. https://www.cbsnews.com/news/worker-wag ... D=ref_fark
"Worker pay in the second quarter dropped nearly one percent below its first-quarter level, according to the PayScale Index, one measure of worker pay. When accounting for inflation, the drop is even steeper. Year-over-year, rising prices have eaten up still-modest pay gains for many workers, with the result that real wages fell 1.4 percent from the prior year, according to PayScale. The drop was broad, with 80 percent of industries and two-thirds of metro areas affected."
Had Trump not lied and failed with his tax cut some of this would not have happened. As I said at the start of this thread the top tax bracket should have simply been raised one or two points, that would have solved a hell of a lot of the loss. Of course the the Republicans and their fundraisers/backers could never have swallowed that. People don't understand that the top must be raised if what Trump committed to is to be.
To restate, while he was pushing for a tax cut Trump clearly said:
“The rich will not be gaining at all with this plan,” [...] “If they have to go higher, they’ll go higher.”http://fortune.com/2017/09/13/donald-tr
"Our framework includes our explicit commitment that tax reform will protect low-income and middle-income households, not the wealthy and well-connected,” [...] ", and it’s not good for me. Believe me."https://www.theatlantic.com/business/ar
Yet "the rich" are clearly the biggest gainers of the tax cut. Or did I miss something? I know for me the AMT change alone has altered my tax hit quite nicely.
But you know, a few hundred companies gave their employees a one time bonus of $1,000.00 so that makes everything alright.
Now if every company that benefited from the tax changes had instead given all employees an additional $1,000.00 in annual pay then you might have something. That would be something real that would directly help the lowest paid employees (the rich/highly paid not so much because $1,000.00 isn't a whole hell of a lot in the grand scheme of annual expenses) and would have flowed most quickly back into the economy.
Last edited by Tugger
on Mon Jul 16, 2018 8:00 pm, edited 1 time in total.
I don’t know that I am unafraid to be myself, but it is hard to be somebody else. -W. Shatner