New data show wages have gone down for people who aren't bosses, following tax cuts
Source: ThinkProgress.Org
The federal government just admitted that workers are earning lower wages since the passage of the GOP tax cuts.
When President Donald Trump was pushing Congress to pass his tax plan last year, which focused on lowering corporate rates and the income taxes of high earners, he pulled out a handy statistic: according to the president's Council of Economic Advisers, the average family would make $4,000 more under the new plan.
Trump repeatedly used this figure to argue for the bill prior to its passage in December 2017, as well as directly after. During a February 2018 speech in Ohio, he claimed "economists estimate that our business tax cut will raise the income of a typical family by an average of $4,000." Vice President Mike Pence has repeated that talking point, as have others in the White House.
On Tuesday, the Bureau of Labor Statistics issued a new release detailing the "real earnings summary" through May 2018.
Read more: https://thinkprogress.org/wages-down-for-workers-since-tax-cut-dae56113144b/
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and it's going to be bigly and you'll love it. Compare to the situation 500 days ago when we were doing duck-and-cover drills and blah blah blah
Credit: EarlG https://www.democraticunderground.com/1017496208
