Workers barely benefited from Trump's sweeping tax cut, investigation shows

[riversedge]

Source: The Guardian



Big companies drove the 2017 Tax and Jobs Act, but did not commit to any specific wage hikes, the Center for Public Integrity found



Tue 30 Apr 2019 02.00 EDT Last modified on Tue 30 Apr 2019 08.47 EDT


Big companies drove Donald Trump’s tax cut law but refused to commit to any specific wage hikes for workers, despite repeated White House promises it would help employees, an investigation shows.

The 2017 Tax and Jobs Act – the Trump administration’s one major piece of enacted legislation – did deliver the biggest corporate tax cut in US history, but ultimately workers benefited almost not at all.

This is one of the conclusions of a six-month investigation into the process that led to the tax cut by the Center for Public Integrity, a not-for-profit news agency based in Washington DC.

The full findings, based on interviews with three dozen key players and independent tax experts, and analysis of hundreds of pages of government documents, are published today in an in-depth piece.


‘Just 6% spent on workers’


The tax hike was sold to citizens as a move that would boost the economy, add jobs and hike wages. The president said in one speech that it would bring the average American household “around a $4,000 pay raise”.....................................

Read more: https://www.theguardian.com/us-news/2019/apr/30/trump-tax-cut-law-investigation-worker-benefits

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In his joint address to congress on 28 February 2017, Donald Trump officially launched his tax cuts effort, saying there would be a ‘big, big cut’ for companies and ‘massive tax relief for the middle class’. Photograph: JIM LO SCALZO / POOL/EPA

[delisen]

1. and now workers will be additionally taxed for

the new infrastructure taxes coming up.

[iluvtennis]

17. Yep, and additional taxes coming our way for trumpazee's border wall. his plan is

to take money from military ang guess how that will be backfilled - on the backs of taxpayers

[Jumpty]

2. And it increased the debt

Trump wants another tax cut despite his failure.

[Iliyah]

3. Golly geez . . .

This only confirms that the corporate media, 1-2%ers don 't give a rat arse about what is happening to the middle class and probably welcomes it's decline.

[IronLionZion]

4. Maybe these workers will vote against the wealthy liars who took advantage of them

GOP had to have known this would catch up to them eventually. Maybe some of them can go spend more time with their families.

[jmowreader]

18. I think they were counting on Congress to flip in 2018

This law WILL crash the economy. You know it will.

Their intent is for it to collapse while a Democrat is in the White House and Democrats hold both houses of Congress. When it does, Shitler will run to a television camera as fast as he can and claim that Democrats are solely responsible for Great Depression II.

[Ohiogal]

5. Was this really any surprise?

Not to me, it wasn’t!

And ... uugghh that is one nauseating photo of the disgusting orange turd.

[llmart]

6. That's his Mussolini face.

Ugly fascist.

[Blue_Tires]

7. Hey media -- THIS is the story you need to print out and take with you

the next time you make that monthly trip to deep red Trump country to let the yokels blab about how godly and saintlike he is...

[turbinetree]

11. Yeah they keep missing this point, they have turned into "gossip" shows.................

amazing......................

[PatrickforO]

8. That's not the worst of it by any means.

What is worst is that safety nets and earned benefit programs like Social Security are endangered by this horrible piece of fiscal irresponsibility.

And, when the next recession comes, 'the great stupid' (most Americans) will EXPECT a stimulus package. Unfortunately, the bankers might not allow it because this criminal piece of legislation has driven the national debt up to unsustainable levels.

Stupid.

Stupid.

Stupid.

Our first act in January 2021 needs to be to REPEAL THIS DANGEROUS ACT AND REFORM THE TAX SYSTEM IN THE RIGHT WAY, SO CORPORATIONS AND RICH PEOPLE PAY THEIR FAIR SHARE.

[turbinetree]

9. The Tax Cuts and Jobs Act of 2017 Has Not Paid for Itself

https://psmag.com/economics/the-tax-cuts-and-jobs-act-of-2017-has-not-paid-for-itself


Note: My family had to pay $2000.00 in Federal taxes and over $400.00 in state ( Maryland ) on combine income of over $85,000.00), while good old Boeing paid zero and Lockheed paid close to zero and Amazon paid 0 for example.........................................I keep thinking that corporations are people...........................right John Roberts.......................they are grifters

[MichMan]

14. Only 2.35 % Federal taxes?

2000/85,000 = 2.35 % tax rate

That is a ridiculously low amount to pay in taxes on that amount of income. Most of us paid at least 5 times that amount

[turbinetree]

15. The only way it was that much was that we had to decrease withholding

and take more taxes out, or it would have been more..............next year it goes up almost $5,000.00, and my income is social security and very small pension....................the numbers will not add up next year........................

[TZ617]

16. 2.35% in Federal taxes?

I'm guessing that "turbinetree" was stating the amount they had to pay with their tax filings as opposed to all the taxes withheld plus those payments. If not, I need to hire their accountant! Quite an amazing deal. Also, not sure how Social Security and a "small pension" would add up to $85,000 unless somebody else in the family is working at decent wages to get to that number. It just doesn't add up.

[PatrickforO]

20. Indeed.

I pay over seven times more than that.

[world wide wally]

10. Trump does give us choices...

We can choose to call hm a liar, a fraud, a cheat, or a thief.

[Bengus81]

12. And they THOUGHT they would?? ROFLOL...just more of the same Reagan/Bush

tinkle down. Oh I know...it was ALL suppose to be different THIS time.

[yaesu]

13. throwing the working class a few crumbs just to keep them happy

while they give a full course dinner to the rich elite. Its the republiCon way.

[lagomorph777]

19. At a medical facility yesterday, overheard workers complaining how must the "cut" cost them.

This piece of garbage is going to help us in 2020. We need to keep bringing it up.

[oasis]

21. Disgusting. MAGAts are content with Trump's "sweet nothings" he

shovels to them at rallies. Stupidity reigns.