Two years after Trump tax cuts, the middle class is lagging

[Yo_Mama_Been_Loggin]

Income for middle-class Americans is growing more slowly than for both top earners and the poor, according to the Congressional Budget Office. The analysis comes two years after President Donald Trump enacted the Tax Cuts and Jobs Act, a major overhaul in the nation's tax laws billed by the White House as a boon for the middle class.

After accounting for taxes and government benefits, the middle fifth of households will see their income grow by 6.6% through 2021, the CBO forecast — that compares with a 17% gain projected for America's richest workers. In dollars and cents, the middle 20% of families will have seen their income grow a total of only $4,400, to $70,300, between 2016 and 2021, the agency estimated.

Income for the top 1% is expected to rise nearly $200,000 over that same five-year period to nearly $1.4 million; the bottom 20% could see their annual income grow a total of $1,7000 to $36,700.

The analysis factors in the impact of taxes and of government "transfers," which include benefit programs such as Medicaid and food stamps (but exclude social insurance programs like Social Security).

https://www.msn.com/en-us/money/markets/two-years-after-trump-tax-cuts-the-middle-class-is-lagging/ar-BBYv5oa?li=BBnbfcN

[Wellstone ruled]

1. Plus,all those Tariff's

are now showing up at your local Retailer.

[LakeArenal]

2. Surprise!!! Who'd a thunk it?

Every body.

[OhNo-Really]

3. 2010 Census Results

Did you know that 45% of US workers earn less than $25,000 a year. That is why these reports are for “household income”

The “Family Values Party” 😂😂😭😭😭
has forced both parents to work full-time. And we wonder why kids are depressed

2010 Census Report published September 2011

https://www.census.gov/newsroom/releases/archives/income_wealth/cb11-157.html

Unavoidable Monthly Expenses

Family cell phones $100s per month
Family Auto Insurance w/2 teens $100s/mo
Family Health Insurance $100s/mo
Household internet & TV $100s/mo
Housing $1000+/mo
House Insurance $100s/mo
Real Estate Taxes $100s/mo
Utilities $100s/mo
Clothing
School supplies
Food

We are sitting sheep being fleeced at every turn!

[leftyladyfrommo]

5. I figured out how much I have spent for just insurance

in my lifetime. Auto, medical, homeowner's, business. It was a huge amount of money.

And I have had maybe 1 or 2 claims for small amounts.

[OhNo-Really]

6. Same here! And the hugest bldgs. Banks & Insurance. US Fleecers

[Buckeyeblue]

4. I think the problem is that we work so hard to survive we don't have the energy to work for change

Imagine if 70% of the middle class cancelled their health insurance tomorrow and demanded lower cost medical care? The market would have to adapt. But how could we get 70% of the people to engage in this type of protest?

Those in power only keep their power because the people let them. This applies to our leaders as much as it applies to Putin. But people want some degree of comfort. And we are willing to trade our dignity to have it.