Trump promised pay increases of $4,000 - $9,000 if Russia Tax Cut was passed
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countryboy
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Source?
Payscale: AFTER TAX CUTS, WAGES DECLINED IN 80 PERCENT OF INDUSTRIES
Trump's WH statement, October 2017: Reducing the statutory federal corporate tax rate from 35 to 20 percent would, the analysis below suggests, increase average household income in the United States by, very conservatively, $4,000 annually.
blackascoal
The Force is With Me
TRUMP’S TAX PLAN IS FAILING TO GIVE AMERICAN WORKERS THE WAGE GROWTH HE PROMISED
8/3/18
President Donald Trump promised Americans a $4,000 pay hike when he passed his tax cuts last December. Yet eight months later wage growth has been stagnant despite record low levels of unemployment.
Friday’s jobs report showed unemployment at 3.9 percent, an 18-year low. But even with historic lows, workers' pay has only increased by 2.7 percent since last year. With inflation hovering around 2 percent, that’s an adjusted 0.7 percent growth in earnings. A wage earner would have to bring in more than $570,000 to see that promised $4,000 increase in pay. Instead, the average worker is seeing a weekly pay raise of just $16.42.
“This jobs report provides the latest evidence that the Republican tax law has done little to raise real wages in this country,” said Senator Martin Heinrich, ranking member of the Joint Economic Committee, in a statement.
https://www.newsweek.com/trump-tax-plan-wage-growth-1056660
8/3/18
President Donald Trump promised Americans a $4,000 pay hike when he passed his tax cuts last December. Yet eight months later wage growth has been stagnant despite record low levels of unemployment.
Friday’s jobs report showed unemployment at 3.9 percent, an 18-year low. But even with historic lows, workers' pay has only increased by 2.7 percent since last year. With inflation hovering around 2 percent, that’s an adjusted 0.7 percent growth in earnings. A wage earner would have to bring in more than $570,000 to see that promised $4,000 increase in pay. Instead, the average worker is seeing a weekly pay raise of just $16.42.
“This jobs report provides the latest evidence that the Republican tax law has done little to raise real wages in this country,” said Senator Martin Heinrich, ranking member of the Joint Economic Committee, in a statement.
https://www.newsweek.com/trump-tax-plan-wage-growth-1056660
It's not bringing jobs back; BMW, Carrier, and Harley Davidson are just some of the companies who have outsourced or are outsourcing jobs, even after being given a tax cut.
Also, slowest pace of job growth since 2017, which was the slowest since 2011.
Wages rising at nearly the same rate as inflation = no real wage growth
countryboy
Verified User
The claim was "Trump promised pay increases of $4,000 - $9,000 if Russia Tax Cut was passed". Where did Trump say this? Quotes please.
Even leftwing hacks at politico debunk this lower wage nonsense.
https://www.politifact.com/truth-o-...ges-fall-18-percent-after-donald-trumps-tax-/
The tax cuts have been in effect for all of six months. Were you expecting miracles? GDP and wage bonuses are up, and the economy is humming along. Get a fucking life ya fucking loser.
countryboy
Verified User
Not bringing jobs back? We are at full unemoyment, and GDP is at 4.1%. Only a leftist loon could find doom and gloom in that, lol.
countryboy
Verified User
Lol! Did your lord and savior do better? Oh, that's right, it was Bush's fault, I forgot.
In the link, idiot:
Drumpf's WH statement, October 2017: Reducing the statutory federal corporate tax rate from 35 to 20 percent would, the analysis below suggests, increase average household income in the United States by, very conservatively, $4,000 annually. When we use the more optimistic estimates from the literature, wage boosts are over $9,000 for the average U.S.household.
So you didn't read the link I gave you. Do you even know how to read?
Here's what your link says:
When we looked at a standard BLS measurement for wages — median usual weekly inflation-adjusted earnings for full-time wage and salary workers — we found that this measurement actually rose slightly between the first and second quarter of 2018, from $350 a week to $351 a week.
That's a far cry from the $4,000-$9,000 wage increases Trump promised in 2017 here.
I wasn't expecting shit, and shit's exactly what I got. We were told in 2017 that the Russia Tax Cut would increase wages $4,000-$9,000. Then you posted a link showing they'vg grown only $351. Now, does $4,000 = $351 in Conservatardia? How about $9,000 = $351?
GDP is inflated by nearly a full point thanks to an increase in exports to get ahead of the tariffs. So orders were accelerated and increased in Q2 2018; what does that mean for inventory orders for Q3 2018? Nearly 0.6% of that 4.1% GDP is due solely to the rush of soybean exports to avoid the tariff.
Economic growth would have been about 3.1% without the tariffs.
Exactly.
Thanks, Obama.
Which is 1% higher thanks to rushing to get exports out ahead of the tariffs.
Q3 2018 is going to be brutal because the inventory orders will be lower thanks to rushing to get inventory out in Q2 ahead of the tariff.
By this time next year, we will probably be in a recession.
I read that to mean wages rose by $1 a week, not $350!
LINK to Trump promised pay increases of $4,000 - $9,000 if Russia Tax Cut was passed please. Thank you.
Link to this claim please. Thank you.
Once again you would be wrong; as you are on almost everything. Why do you like removing any lingering doubt you're a lying leftist asshole on steroids?
Link to this claim please. Thank you.
Once again you would be wrong; as you are on almost everything. Why do you like removing any lingering doubt you're a lying leftist asshole on steroids?
You all promised $4,000-$9,000 in higher wages if your Russia Tax Cut was passed.
At best, wages rose about $350.
And that was eaten up by higher inflation.
Does $350 = $4,000 in Conservatardia?
That is a massive pile of bullshit. So tell me willful moron, do corporations pay taxes? Or are they merely TAX collectors? Dunce.
How is this incorrect? The tax law has only taken effect this year. You haven't presented anything that suggests this is wrong.
If you are single, and make $100,000, you would have paid a marginal tax of $25,000. Under Trumps plan it is now $20,000. That is a savings of $5,000.
If you are single and make $40,000, you would have paid a marginal tax of $6000. Under Trumps plan it is now $4,000. That is a savings of $2,000.
Corporations have gone from a tax of 35% to only 21%. That means that ALL of us, as consumers of their services and products, will be paying 14% less for them. After all, anyone with a brain knows that corporations do not pay taxes, they collect them.
Now let's get to the bottom line of your stupidity; your argument is that we, as tax payers, would have been better off at the higher rates. That's not merely stupid, but incredibly moronic.
STFU, seriously.
https://www.taxpolicycenter.org/publications/analysis-donald-trumps-tax-plan/full
LIE and LAME; these decisions were made LONG before the tax law was signed into effect you lying dumbass. Also, BMW already has factories in the SE assembling cars. They aren't going anywhere.
LIE and LAME. With current pace of job growth, Fed may hike rates in June
https://economictimes.indiatimes.co...ne-ryan-sweet-moodys/articleshow/51266711.cms
Key words; RISING. Unlike the Obamunism era. Good thing we got all those tax cuts. All this GROWTH is causing signs of INFLATION.
But in moron land where you wallow, job growth, tax cuts and higher wages are a bad thing. STFU, seriously.
So then cutting the corporate rate didn't bring jobs back.
Right, but that's still a slow pace of job growth.
So far, in the last 18 months, Trump put fewer people to work than in the final 18 months of Obama's term.
2017 was the slowest pace of job creation since 2011.
2018 is just as slow as 2017.
Slow job growth.