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McWicked

GOP Tax Cut gave working Americans a 1-cent bonus. You're welcome.

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According to the Economic Policy Institute’s Larry Mishel, data from the Bureau of Labor Statistics’ Employer Costs for Employee Compensation shows that “bonuses actually fell $0.22 between December 2017 and December 2018 and the average bonus for 2018 was just $0.01 higher than in 2017.” While a number of companies made ring-kissing announcements after the bill was signed into law claiming it had allowed them to dispense modest one-time bonuses, a number of these had reportedly been in the works long before the legislation was passed. What’s more, as Mishel notes, the trend toward giving out bonuses rather than raises “started taking off four years ago,” and hasn’t exactly been great for employees, considering they’re not permanent.

 

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When the administration was selling the plan, it claimed the average American family would wake up to an extra $4,000 in its pocket, and maybe even up to $9,000. Those figures were provided by Trump’s Council of Economic Advisers, whose chairman, leading light Kevin Hassett, argued during the shutdown that furloughed workers should consider the (unpaid) time off a free vacation.

 

If only someone could have predicted the tax cuts would benefit only the super rich. :shrug: 

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4 hours ago, Goukosan said:

but @Vinisaid he likes Trump and took him at his word when he said the cut was for the average man :cmpunk1:

The tax cut didn't even cover my monthly internet bill. :] 

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