Keeping with the economic trend I started a couple of posts ago……
Have you filed your taxes yet? Did you get a refund?
I have filed and I had to pay.
What about the rest of America?
I mean us real people not those stiff criminals that we call the top 1%.
Did those lovely tax cuts that Trump gave the country benefit the rest of us or were the benefits for his rich buddies?
A new six-month analysis of President Donald Trump’s 2017 tax cuts details how workers received little benefit from the plan, despite the savings many of their powerful corporate employers received.
The Center for Public Integrity (CPI) interviewed independent tax analysts and officials who were involved in the Republican Party’s effort to sell the so-called American Tax Cuts and Jobs Act to the public—and within their own party ranks. Progressive critics have consistently called the law nothing nothing more than a “tax scam.”
The GOP’s insistence on a tax law which included the largest corporate tax cut in U.S. history—from 35 to 21 percent—resulted in companies saving about $150 billion in the first year after the passage in December 2017.
Trump and then-House Speaker Paul Ryan had spent months telling Americans they stood to save hundreds or even thousands of dollars in taxes, with Trump telling one crowd that the average family would see a pay raise of about $4,000, a benefit that would “trickle down” from employers’ corporate tax cuts.
After running a campaign on the idea that America was an impoverished wasteland, Donald Trump has spent his presidency bragging about the economic expansion that began under Barack Obama but continued under him. Though he might be a glutton for credit, Trump isn’t wrong, exactly, when he celebrates the “record economy” in his tweets: Unemployment in the United States is at a 50-year low, the stock market is soaring, and GDP is growing at a brisk clip. Polls have found that people are confident in the state of the economy.But that doesn’t mean Americans really believe a rosy overall economy is improving their lives.