Further Evidence That the Tax Cuts Have Not Led to Widespread Bonuses, Wage or Compensation Growth
The bottom line is that there has been very little increase in private sector compensation or W-2 wages since the end of 2017.. One of the leading arguments for the GOP’s Tax Cuts and Jobs Act of 2017 has been that it will raise the wages of rank-and-file workers, with congressional Republicans and members of the Trump administration promising raises of many thousands of dollars within ten years. The Trump administration’s chair of the Council of Economic Advisers argued in April that we are already seeing the positive wage impact of the tax cuts:
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