1 of 1- Goose
- Cogito ergo sum
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- Registered: 1/29/2015
- Posts: 13,427
The Trump Economy
The Blue line are corporate profits.
The red line represents weekly wages for workers.
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
- Just Fred
- Duke of Cortona
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- Posts: 3,863
Re: The Trump Economy
This graph represents something I feel should really be at the heart of any conversation about the economy. But, it rarely comes up. Too many people point to the stock market as if that tells the complete story.
- tennyson
- Exchanger
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- Registered: 2/06/2015
- Posts: 6,654
Re: The Trump Economy
The tax cuts were basically a giveaway to Big Business and the markets pretty much reflect that their earnings have skyrocket even further.
The average Joe got kind of peanuts from the cuts, other than their 401Ks might have done well, but don't expect this market explosion to last because of it.
Meanwhile the deficit has ballooned by $1 Trillion this year alone and will wind up being a further burden on the Average Joe's children and grandchildren.
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
- Just Fred
- Duke of Cortona
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- Posts: 3,863
Re: The Trump Economy
Well, we've gotta pay for those tax cuts for the wealthy somehow:
President Donald Trump told lawmakers on Thursday he wants to scrap a pay raise for civilian federal workers, saying the nation's budget couldn't support it.
In a letter to House and Senate leaders, Trump described the pay increase as "inappropriate."
"We must maintain efforts to put our Nation on a fiscally sustainable course, and Federal agency budgets cannot sustain such increases," the President wrote.
An across-the-board 2.1% pay increase for federal workers was slated to take effect in January. In addition, a yearly adjustment of paychecks based on the region of the country where a worker is posted -- the "locality pay increase" -- was due to take effect.
Trump said both increases should no longer happen.
Last edited by Just Fred (8/30/2018 4:35 pm)