Most voters are not feeling any benefits from the growing economy. That’s because Trump and Republicans’ policies are only benefiting those at the top. While wealthy CEOs and big corporations take in record profits, real wages for workers continue to decline. Now, Republicans want to make life even harder for working families by gutting vital safety net programs they rely on, in order to help pay for more tax cuts for the rich.
Most voters are not feeling any benefits from the growing economy. Trump’s economic policies only benefit those at the top.
CNBC: “‘The economy’ may be roaring, but for most voters their economy is not. The difference between those two things reflects the income inequality that has defined America’s modern economy. The positive news Wall Street savors — robust corporate profits, rising stock prices, surging output growth — deliver the greatest rewards to a relatively modest share of more affluent Americans. The rest don’t feel it all that much.”
New numbers show that real hourly wages for the largest category of workers have fallen over the past year.
Bureau of Labor Statistics: “Production and nonsupervisory employees […] From August 2017 to August 2018, real average hourly earnings decreased 0.1 percent, seasonally adjusted.”
Republicans want to pass the Trump tax 2.0, which primarily benefits the rich and could add $3.2 trillion to the deficit over a decade.
Washington Post: “A second round of Republican tax cuts would add an additional $3.2 trillion to the federal deficit over a decade, according to a new report released by a centrist think-tank.”
Washington Post: “TPC also found that the law would give a substantially bigger tax breaks to the richest families over those in the middle class.”
Paul Ryan said that if Republicans keep the majority they will try to gut vital safety net programs like Medicare, Medicaid and Social Security.
Roll Call: “The future of health care and entitlement overhauls sought by the GOP hinge on whether Republicans make gains in the Senate in November in addition to keeping the House, Ryan said.”