Drudge Retort: The Other Side of the News
Sunday, April 15, 2018

The latest Employment Situation report from the Bureau of Labor Statistics shows weekly employee earnings have grown $75 since tax reform passed, well short of the $4,000 to $9,000 annual increases projected by President Trump and House Speaker Paul Ryan (R-Wis.). During the three months following passage of the tax bill, the average American saw a $6.21 increase in average weekly earnings. Assuming 12 weeks of work during the three months following passage of the corporate tax cuts, this equates to a $75 increase. Assuming a full 52 weeks of work, the $6.21 increase in weekly earnings would result in a $323 annual increase, nowhere near the minimum $4,000 promised and $9,000 potential annual increases projected by President Trump and Speaker Ryan if significant cuts were made to corporate tax rates.

More

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

Only complete idiots thought this trump tax manure would turn out differently than it has.

#1 | Posted by Angrydad at 2018-04-15 05:48 PM | Reply

Is the author of this opinion piece so stupid that he doesn't understand that contracts are negotiated on an annual basis? With a strong employment picture and higher earnings, that is when wage growth will occur.

#2 | Posted by Rex_Buyt at 2018-04-15 10:26 PM | Reply | Funny: 1

With a strong employment picture and higher earnings, that is when wage growth will occur.

#2 | POSTED BY REX_BUYT

Won't happen.

Studies have proven that corporations take the free tax money from tax cuts and pass it to shareholders instead of passing it to workers wages ...

What President Trump is doing to the American Dream
www.drudge.com

It's all spelled out in that 29-minute video in the above thread.

#3 | Posted by PinchALoaf at 2018-04-15 10:37 PM | Reply

Studies have proven that corporations take the free tax money from tax cuts and pass it to shareholders

=============

Some will go to shareholders. But a cut this drastic and across the board in the face of a historically low unemployment rate is unprecedented so your studies lack validity. They also seem to ignore that those workers also have 401k programs that benefit as shareholders. The only workers that will not benefit are the low skilled workers competing with illegals due to supply still outstripping demand and the fact that those jobs not having a meaningful 401k program.

At the end of the day, you cannot state that you are both for middle class jobs and open borders.

#4 | Posted by Rex_Buyt at 2018-04-15 11:09 PM | Reply

All previous tax cuts haven't helped workers, so we just need to make the tax cuts bigger, it will be different this time.
-idiot

#5 | Posted by bored at 2018-04-15 11:35 PM | Reply | Newsworthy 2

All previous tax cuts haven't helped workers, so we just need to make the tax cuts bigger, it will be different this time.
-idiot

#5 | POSTED BY BORED

===============

No need to sign your posts as idiot, the content gives you away.

Most tax cuts in US history have been done to help boost poor employment numbers and a stagnant economy. In those instances, it is not surprising why companies either sat on cash or gave to investors rather than raising their cost basis in the face of uncertain demand and low worker negotiating power.

Of course, this is basic common sense which is why you struggle to understand it. Now, go pull out the fries before they burn.

#6 | Posted by Rex_Buyt at 2018-04-15 11:47 PM | Reply

Tax cuts growing wages was always a lie to get the dumb ----- to buy into it.

#7 | Posted by 726 at 2018-04-16 10:19 AM | Reply | Newsworthy 1

"basic common sense" is usually cited in the absence of hard evidence. GAO says that as designed just about all of the benefit of the tax scam goes to the 1%. They make more bribes, excuse me, campaign contributions than most of us so they get all the goodies. Sigh.

#8 | Posted by SomebodyElse at 2018-04-17 11:02 AM | Reply

" It should be 85 at a minimum"

Just repeating Trump's claim that this was the biggest tax cut in history just makes you look foolish. Reagan's tax cut was much bigger than this one and the era of Reagan brought the wage stagnancy that we've lived with ever since.

#9 | Posted by danni at 2018-04-17 12:09 PM | Reply

Wrong quote posted about my last post. Should have been:

"But a cut this drastic and across the board in the face of a historically low unemployment rate is unprecedented so your studies lack validity."

#10 | Posted by danni at 2018-04-17 12:10 PM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2018 World Readable

Drudge Retort