Trump said his tax cuts would be a wage boom to workers. We were all going to get rich or, at least richer, thanks to all of the economic gains that would trickle down to us from the tax savings he and the Republican Congress gave the rich. White House economist Kevin Hassett has even bragged that “wages have gone up faster than we (Trump Republicans) thought.” The tax cut worked so well say the Trump Repubs that they just might do another.
Well, the numbers are in and the average America is not seeing a lot more cash in his/her wallet from the Trump tax cuts. According to the Bureau of Labor Statistics the true facts are mostly bad news which will come as little surprise to the average American:
Real average hourly earnings for all employees on private, nonfarm payrolls haven’t changed at all over the last year under Trump.
Real average hourly wages for the 80% of American workers who are “production and nonsupervisory employees” actually DECREASED.
Note: Real wage growth grew 4.7% during Obama’s first year and were 2.4% and 1.8% the last two years he was in office. They have declined every year since Trump took office. And, as noted, were NEGATIVE Trumps second year.
Read the analysis here:
Read the numbers here: