Saturday, December 15, 2018

Over 6 Out Of 10 Workers Did NOT Get A Raise This Year


Donald Trump and congressional Republicans touted their tax cut as being for the "middle class", even though most of the cuts went to the rich and corporations. They justified it by saying the tax cut would produce a massive amount of new good-paying jobs, and workers would get a significant raise (an average of about $4,000).

That didn't happen. Job creation is about what it was before the tax cut, and far too many of the jobs being created are low-wage and low-benefit jobs. The raises didn't happen either.

As the chart above shows, about 62% of American workers say they got neither a raise or a better job.

What happened to all the money corporations saved with their huge tax cuts? They used most of it to buy back their own stock (which artificially raised the price of that stock -- benefitting owners and executives). Almost none of it went to help workers.

The chart above shows results of a Bankrate / SSRS Poll -- done between November 20th and 25th of a national sample of 1,000 adults, with a 3.61 point margin of error.

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