Trump's promise of a $4,000 pay hike for the average working family just came up $3,999.99 short
According to the Economic Policy Institute’s Larry Mishel, data from the Bureau of Labor Statistics’ Employer Costs for Employee Compensation shows that “bonuses actually fell $0.22 between December 2017 and December 2018 and the average bonus for 2018 was just $0.01 higher than in 2017.”
While the White House continues to insist to this day that bonuses—big ones!—were handed out at companies across America all thanks to the T.C.J.A (née the Cut Cut Cut Act), it has backed away from putting an exact number on the rewards now that the actual data is out. When the administration was selling the plan, it claimed the average American family would wake up to an extra $4,000 in its pocket, and maybe even up to $9,000. Those figures were provided by Trump’s Council of Economic Advisers, whose chairman, leading light Kevin Hassett, argued during the shutdown that furloughed workers should consider the (unpaid) time off a free vacation.
https://www.vanityfair.com/news/2019/04/...s-tax-cuts
According to the Economic Policy Institute’s Larry Mishel, data from the Bureau of Labor Statistics’ Employer Costs for Employee Compensation shows that “bonuses actually fell $0.22 between December 2017 and December 2018 and the average bonus for 2018 was just $0.01 higher than in 2017.”
While the White House continues to insist to this day that bonuses—big ones!—were handed out at companies across America all thanks to the T.C.J.A (née the Cut Cut Cut Act), it has backed away from putting an exact number on the rewards now that the actual data is out. When the administration was selling the plan, it claimed the average American family would wake up to an extra $4,000 in its pocket, and maybe even up to $9,000. Those figures were provided by Trump’s Council of Economic Advisers, whose chairman, leading light Kevin Hassett, argued during the shutdown that furloughed workers should consider the (unpaid) time off a free vacation.
https://www.vanityfair.com/news/2019/04/...s-tax-cuts
