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Wages TANK After Trump's Wealthy Tax Cut

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+23 more 
posted on Jul, 29 2018 @ 03:03 AM
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Well how about them fruits of those massive Trump tax cuts? I'm feeling déjà vu:



Yep, wages have tanked:


When Republicans delivered $1.5 trillion in tax cuts last December and slashed the corporate tax rate from 35 percent to 21 percent, they said it would come with a big wage boost for American workers. Except it hasn’t.

Over the weekend, this chart from Bloomberg showing private data from PayScale’s wage index swept across Twitter. It shows a drop in wages in the second quarter of the year. While wages have risen by 12.9 percent overall since 2006, wages adjusted for inflation (so-called “real wages”) have actually fallen by 9.3 percent.

And between the first and second quarters of 2018 — after the tax cuts were enacted — real wages fell by 1.8 percent.

Source

Things never change I guess? Hey I mean look many of you got some of taxes back so I guess that's a gain? Not that longterm income stagnation or decline is of any concern. Seeing what, $2K back worth of taxes is enough to keep some of you jolly for a good few months but longterm, when looking at income inequality, it doesn't bode well for the middle and lower classes.



But hey? Maybe we should give it more time I guess? It should even out and we should start seeing growth.... eventually.



+1 more 
posted on Jul, 29 2018 @ 03:07 AM
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That was a tweet with material from @bopinion
Get it ?


+3 more 
posted on Jul, 29 2018 @ 03:10 AM
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a reply to: Southern Guardian

1.8% ?? LoL I gained a hell of a lot more than that through my tax cut. Anyways is there any proof that Trumps tax cuts is the actual cause of the wage drop, or might the wages have dropped anyways?



posted on Jul, 29 2018 @ 03:11 AM
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a reply to: Southern Guardian

I think we should just raise taxes back up LMFAO!


(post by BotheLumberJack removed for a manners violation)
+7 more 
posted on Jul, 29 2018 @ 03:18 AM
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a reply to: Southern Guardian

From Wikipedia:


PayScale was developed to help people obtain accurate real-time information on job market compensation. The service works via the Internet by enabling individual employees to submit their job profile and salary data, which is then compared to others. The company claims that it is able to use the volume of information statistically to determine accurate real-time salary information.[6]

The company generates revenue by selling aggregate data and web services to employers, to aid in determining correct market rates for hiring, benchmarking and budgeting, and by targeted advertising to employees that visit its web site.

The company has published rankings of U.S. universities based on "return on investment," or the purported difference between student expenditures for a university degree and the money they earn from it.[7] These rankings are dramatically different from better-known rankings published by U.S. News and World Report, Forbes, The Economist, and other mainstream publications (for instance, PayScale places Yale University 93rd among American universities and Georgetown University 132nd). The Chronicle of Higher Education has criticized PayScale for using misleading sample sizes and for omitting all alumni of universities who go on to grad school from its count.[8]


And the graph claims to include data calculations from as far back as 2006 but the x axis begins at 2016.

By the way, you don't find it odd that a business publication is taking an explicit political position with its article twitter post?



posted on Jul, 29 2018 @ 03:18 AM
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off-topic post removed to prevent thread-drift


 



posted on Jul, 29 2018 @ 03:19 AM
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a reply to: Alien Abduct


1.8% ?? LoL I gained a hell of a lot more than that through my tax cut. Anyways is there any proof that Trumps tax cuts is the actual cause of the wage drop, or might the wages have dropped anyways?


Thank you for that anecdotal account of yours. One of many to follow I'm sure.

As for proof these tax cuts are the cause? Well we have a (R) President, and (R) congress, we had (R) tax cuts passed last year heavily in favor of the wealthy and record corporate tax cuts. I'm uncertain what else one could attribute this to? Maybe it's those record deficits the administration and congress are predicting? Causing panic and cost cutting among businesses? Whatever it is, those multi-trillion tax cuts don't seem to be doing jack for the working man.


I think we should just raise taxes back up


Who proposed raising taxes?



posted on Jul, 29 2018 @ 03:19 AM
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originally posted by: Alien Abduct
a reply to: Southern Guardian

I think we should just raise taxes back up LMFAO!



Democrats may actually be onto something this time. Raise taxes and wages will increase!



posted on Jul, 29 2018 @ 03:22 AM
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What is the starting wage for full time employment in the restaurant business in Calif. In 93 it was about 6.50 an hour.



posted on Jul, 29 2018 @ 03:22 AM
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a reply to: Violater1

There's an actual source from Bloomberg but I'm sure you missed out that past in your haste to attack the OP.

What's next? Fake news? Or maybe another anecdotal account from you? You own a business? It's going fantastic? You got $1000's back in tax cuts and now you're living it up? Share with us here please.



posted on Jul, 29 2018 @ 03:24 AM
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Fake news.


+15 more 
posted on Jul, 29 2018 @ 03:29 AM
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originally posted by: Southern Guardian
a reply to: Alien Abduct


1.8% ?? LoL I gained a hell of a lot more than that through my tax cut. Anyways is there any proof that Trumps tax cuts is the actual cause of the wage drop, or might the wages have dropped anyways?


Thank you for that anecdotal account of yours. One of many to follow I'm sure.

As for proof these tax cuts are the cause? Well we have a (R) President, and (R) congress, we had (R) tax cuts passed last year heavily in favor of the wealthy and record corporate tax cuts. I'm uncertain what else one could attribute this to? Maybe it's those record deficits the administration and congress are predicting? Causing panic and cost cutting among businesses? Whatever it is, those multi-trillion tax cuts don't seem to be doing jack for the working man.


I think we should just raise taxes back up


Who proposed raising taxes?


So, in other words you have no proof that Trump’s tax cuts are the cause.

How do you know wages wouldn’t have dropped anyways?

By the way I’ll tell you the real reason why wages went down. It’s because we have 20 MILLION illegals working in this country for faaaar below what the job would otherwise pay! THAT drives down wages and THAT is a fact!



posted on Jul, 29 2018 @ 03:31 AM
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originally posted by: Southern Guardian


Fake news.


Oh look! It's a meme!



posted on Jul, 29 2018 @ 03:32 AM
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off-topic post removed to prevent thread-drift


 



posted on Jul, 29 2018 @ 03:33 AM
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originally posted by: Alien Abduct

originally posted by: Southern Guardian
a reply to: Alien Abduct


1.8% ?? LoL I gained a hell of a lot more than that through my tax cut. Anyways is there any proof that Trumps tax cuts is the actual cause of the wage drop, or might the wages have dropped anyways?


Thank you for that anecdotal account of yours. One of many to follow I'm sure.

As for proof these tax cuts are the cause? Well we have a (R) President, and (R) congress, we had (R) tax cuts passed last year heavily in favor of the wealthy and record corporate tax cuts. I'm uncertain what else one could attribute this to? Maybe it's those record deficits the administration and congress are predicting? Causing panic and cost cutting among businesses? Whatever it is, those multi-trillion tax cuts don't seem to be doing jack for the working man.


I think we should just raise taxes back up


Who proposed raising taxes?


So, in other words you have no proof that Trump’s tax cuts are the cause.

How do you know wages wouldn’t have dropped anyways?

By the way I’ll tell you the real reason why wages went down. It’s because we have 20 MILLION illegals working in this country for faaaar below what the job would otherwise pay! THAT drives down wages and THAT is a fact!





Oh right I thought Trump was MAGA, you know , income equality, more jobs better economy... How is possible wages aren't going up?



posted on Jul, 29 2018 @ 03:34 AM
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a reply to: ColdWisdom

My experience with Payscale funnily enough tends to be that individuals and businesses who submit their salaries online tend to boost their incomes to appear competitive in the market. There's exactly zero motivation to underplay the earnings in your company. If this is the concern, the implication, then we'd assume submissions on Payscale are politically motivated which is a little far fetched don't you think? Considering the 1000's of submissions of salary data on there?

With regards to the graph only starting from 2016, it's relevant when applying to this administration. By all means get a complete graph for the last 10 years and share it on here.



+6 more 
posted on Jul, 29 2018 @ 03:38 AM
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a reply to: Southern Guardian


My experience with Payscale


Do you actually have experience with Payscale?


Considering the 1000's of submissions of salary data on there?


How do you know their sample size and methodology? Looks like it wasn't posted.


With regards to the graph only starting from 2016, it's relevant when applying to this administration. By all means get a complete graph for the last 10 years and share it on here.


Tell that to Bloomberg.


+1 more 
posted on Jul, 29 2018 @ 03:39 AM
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originally posted by: hopenotfeariswhatweneed

originally posted by: Alien Abduct

originally posted by: Southern Guardian
a reply to: Alien Abduct


1.8% ?? LoL I gained a hell of a lot more than that through my tax cut. Anyways is there any proof that Trumps tax cuts is the actual cause of the wage drop, or might the wages have dropped anyways?


Thank you for that anecdotal account of yours. One of many to follow I'm sure.

As for proof these tax cuts are the cause? Well we have a (R) President, and (R) congress, we had (R) tax cuts passed last year heavily in favor of the wealthy and record corporate tax cuts. I'm uncertain what else one could attribute this to? Maybe it's those record deficits the administration and congress are predicting? Causing panic and cost cutting among businesses? Whatever it is, those multi-trillion tax cuts don't seem to be doing jack for the working man.


I think we should just raise taxes back up


Who proposed raising taxes?


So, in other words you have no proof that Trump’s tax cuts are the cause.

How do you know wages wouldn’t have dropped anyways?

By the way I’ll tell you the real reason why wages went down. It’s because we have 20 MILLION illegals working in this country for faaaar below what the job would otherwise pay! THAT drives down wages and THAT is a fact!





Oh right I thought Trump was MAGA, you know , income equality, more jobs better economy... How is possible wages aren't going up?


I tell you what, if we get rid of all those illegal immigrants there will be 20 MILLION job openings and THAT ALONE will fix the wage issue because with the lack of workers they would have to offer more money.

What do you propose should be done to fix this wage issue? Hmm? You got a suggestion? I’d like to hear it. Usually all we hear from the left is a bunch of whining but no ideas on how to fix what they are whining about. So let’s hear it what’s your suggestion?



posted on Jul, 29 2018 @ 03:41 AM
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originally posted by: Southern Guardian
a reply to: ColdWisdom

My experience with Payscale funnily enough tends to be that individuals and businesses who submit their salaries online tend to boost their incomes to appear competitive in the market. There's exactly zero motivation to underplay the earnings in your company. If this is the concern, the implication, then we'd assume submissions on Payscale are politically motivated which is a little far fetched don't you think? Considering the 1000's of submissions of salary data on there?

With regards to the graph only starting from 2016, it's relevant when applying to this administration. By all means get a complete graph for the last 10 years and share it on here.



Thank you for that anecdotal account of yours. One of many to follow I'm sure.




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