Trump and Republicans promised their massive tax cuts for the rich and big corporations would create jobs and raise wages, but that never happened. Voters know the truth: the Trump tax law hasn’t benefited them.
The Trump tax law has not created jobs. The 1,000 largest public companies eliminated nearly 140,000 jobs since the tax law was passed.
New York Times: “Many companies also said they would use tax savings to create jobs. But the Just Capital research finds that, since the tax cuts were passed, the 1,000 largest public companies have actually reduced employment, on balance. They have announced the elimination of nearly 140,000 jobs.”
The Trump tax law has not accelerated wage growth. Wage growth has yet to pick up when accounting for inflation since the tax law was passed.
New York Times: “Nearly a year after the cuts were signed into law, wage growth has yet to pick up when accounting for inflation. In September, the Labor Department reported that inflation-adjusted wages had risen 0.5 percent from the year before. That’s a slower rate of growth than the economy itself experienced in September 2017, when it was 0.6 percent.”
Voters saw through Republican lies. Only 28% percent of voters said the Trump tax law had benefited them, according to exit polls.
Business Insider: “According to an exit poll conducted by CNN, NBC, ABC, and other major news outlets, few midterm voters believed that the GOP tax law benefited them: 28% of people surveyed said the Tax Cuts and Jobs Act has helped them.”