Six months after President Trump and Republicans in Congress jammed through massive tax cuts mostly for corporations and the wealthy, it has become clear that working families are suffering while billionaire GOP campaign contributors luxuriate in a tax windfall.
While stumping for his tax plan, President Trump claimed cutting taxes for big corporations would result in an average pay raise of $4,000 for working families.
Well, the tax bill slashed the corporate tax rate by over 40 percent and handed multinational corporations a $400 billion tax discount on their accumulated offshore profits, but what was the result?
Working people are still waiting for their $4,000 raise. Average hourly wages have actually gone down slightly, after adjusting for inflation, since the tax bill passed.
Read the full article.