“U.S. employers announced plans to cut 32,423 jobs in December, bringing the year’s total to a low not seen since 1990, global outplacement consultancy Challenger, Gray & Christmas reported Thursday,” Chloe Aiello reports for CNBC.
“Cuts in 2017 totaled 418,770, 20 percent below 2016’s number. In 1990, companies announced plans to cut 316,047 jobs,” Aiello reports. “Last month saw 7.4 percent fewer job-cut announcements than November, and 3.6 percent fewer than in December 2016.”
“Widespread restructuring and competition from online sales led to unprecedented cuts in retail jobs in 2017. Retail employers announced 76,084 job cuts this year, a 28 percent increase from 2016, according to the Challenger report,” Aiello reports. “‘The retail pivot that caused thousands of store closures and job cuts was not seen in any other industry this year,’ John Challenger said.”
“The passage of the tax bill has prompted unprecedented hiring plans for 2018,” Aiello reports. “Employers report plans to hire more than 1.1 million near hires, 27 percent more than last year.”
Read more in the full article here.
MacDailyNews Take: Strong U.S. employment certainly bodes very well for the economy in general and for makers of coveted goods, such as Apple, in particular.
SEE ALSO:
Congressional Republicans deliver epic overhaul of U.S. tax laws to President Donald Trump – December 20, 2017
U.S. employment jumps more than expected in November, boosts U.S. stocks – December 8, 2017
Goldman Sachs sees U.S. unemployment rate hitting lowest level since the late-1960s – November 20, 2017
American consumer confidence soars to highest level since December 2000 – October 31, 2017
U.S. jobless claims plunge to lowest level since 1973 – October 19, 2017
U.S. economy picks up steam; second-quarter GDP up 3.0% reflecting robust consumer spending and strong business investment – August 30, 2017
U.S. consumer confidence shows Americans upbeat on jobs, economy – July 25, 2017
This is great news for everyone (except for Democrat Party politicians)!
Who was President in 1990?
President George H. W. Bush, who was to his predecessor President Reagan (whose policies unleashed the American economic engine in a way never seen before or since) as Tim Cook is to Steve Jobs.
It’s one thing to start the locomotive and get it running at its peak. It’s quite another to take over, sit in the engineer’s chair, and try not to run it off the rails.
President Trump is attacked by those who are dependent on the teat of the status quo. They are in it for themselves, not for the good of the country. The more vociferous the attacks on the transformational President Trump (after decades of crap seat-warmers from both parties from 1989 to 2017), the bigger the personal stake they have in keeping the status quo.
Obviously, none of the President’s policies have actually been enacted into law and gone into effect yet. Part of the boost to the economy is a continuation of the recovery from the Great Recession that was already underway prior to November 2016.
The rest is all about the perception in the big-business community that he is on their side. Despite all the populist rhetoric, Mr. Trump’s actual behavior has been what would be expected of a forthright plutocrat. The governing mantra of this Administration has been “What is good for The Trump Organization is good for America.”
That reassures all the other plutocrats, who are making business decisions on the assumption that the Government will protect the oligarchs’ interests, even when they conflict with the public interest. Recent evidence of this is the rollback of regulations to ensure the safety of fracking on federal lands, to avoid a repetition of the Deepwater Horizon disaster, and to slow strip-mining next to the most pristine wilderness area in the North-Central USA. Similar decisions in the last couple of weeks include defunding mass-transit expansion between New Jersey and New York, eliminating most of the staff in the EPA that conducts pollution inspections, and decisions to abolish both the agency that investigates chemical spills and the advisory panel on HIV/AIDS policy.
His sponsorship of a tax plan that disproportionately favors big business generally—and real estate investors quite specifically—demonstrates his commitment to his own prosperity over that of a broader audience. There is also the factor that defense spending is a major driver of the American economy, and his policies pretty much guarantee that we will be spending a whole lot of money on meeting the foreign threats that he continues to provoke. War is good for business. As Mr. Trump himself proved, rich men’s sons need not fight America’s battles when there is sufficient working-class and minority cannon fodder.
Because they have so much money to make and so little to lose (other than self-respect) from his policies, most so-called conservatives are willing to sit by and watch the dismemberment of our constitutional framework. What do you think they would have said if President Obama had attempted prior restraint of a book critical of his leadership? I think they would have called it what it is—a violation of at least the spirit and probably the letter of the First Amendment. Who cares when there is money to be made?
Just for completeness’ sake:
Having last week killed the regulations intended to avoid a repetition of the Deepwater Horizon disaster that killed 11 people and cost on the order of $23B in economic impact, Mr. Trump today announced that it was opening roughly 90% of America’s offshore reserves (including many areas that have been protected for decades) to exploration and production.
Since America is currently a net energy-exporting nation, this was not required for national security. Since America is at essentially full employment, it was not necessary for any domestic economic purpose. It represents no more or less than a blank check for the oil companies.
Yes, their stocks will go up tomorrow and so will the stock market, but who is really going to benefit? More of Mr. Trump’s fellow oligarchs, I’m betting.
Oooooh Weeeee! 👏🏻
That delicious and timely late breaking news devoured by Trump hating Democrats everywhere, “Just for completeness’ sake!” You just could not help yourself, I understand, because it made your day and an exclamation point to your post above it. Good for you.
Sorry to burst your bubble, but energy exploration on the vast uninhabited expanse of planet Earth is usually a good thing, done responsibly with respect to the environment and all applicable laws. Your agitating and NARROW Democrat talking points post to the contrary is just that.
After reading the latest (first post) tedious TXuser manifesto of everything wrong with the Trump administration I have to ask myself the following question.
Should I waste as much time as you do detailing counterpoints to your negative litany list of PERCEIVED evil transgressions by President Trump? All accomplished in a remarkable first year for a rookie first time politician. Answer: for now, probably not.
I will use an analogy to make THE point regarding your second post. Reminds me of the age old argument regarding outlaw biker gangs going back to “The Wild One” uncertain days in the 1950s, then heightened later by the Hells Angels in the 1960s.
Specifically, the one percenter argument of bad bikers make the remaining 99% look bad. Your negative litany list accomplishes the SAME EFFECT because you neglect to BALANCE your opinions and NEVER mention the positive aspects of President Trump legislative actions.
No matter, New Year here and chance to redeem yourself. Please tell the rest of the class, Mr. self described “straight white male conservative,” in the same tedious style — ALL THE POSITIVE ACTIONS President Trump — has ACCOMPLISHED in his first year as President.
Looking forward to it and Happy New Year …
GeoB,
Finally we agree on something: “[E]nergy exploration on the vast uninhabited expanse of planet Earth is usually a good thing, done responsibly with respect to the environment and all applicable laws.” That is exactly why I think that exploration of sensitive offshore areas without appropriate safeguards is a bad thing.
I can imagine your list of “ALL THE POSITIVE ACTIONS President Trump — has ACCOMPLISHED in his first year as President.” It would be quite lengthy.
My list would be much shorter. After giving the matter considerable thought over the last 11.5 months, I can’t come up with a single one.
Even on the negative side, about the only things he actually has accomplished in the realm of policy rather than rhetoric are (1) Appointing a number of young men to the Federal Judiciary who will be confounding us with their ideology-based opinions for the rest of my lifetime; (2) Dismantling a whole range of protections for citizen rights and the environment that took decades to build up and will require almost as much time to restore; (3) Attacking the Bill of Rights, particularly all five of the First Amendment rights, more aggressively than any President since at least Nixon or possibly Wilson; (4) Undermining America’s relations with virtually all of its allies except Israel, Guatemala, Honduras, and a few Pacific Islanders; (5) Moving the world closer to war almost everywhere; and (6) passing a tax bill that will accelerate the redistribution of America’s wealth from 98% of our population to the remaining 2%.
I hope that wasn’t too tedious for you.
“I can imagine your list of “ALL THE POSITIVE ACTIONS President Trump — has ACCOMPLISHED in his first year as President.” It would be quite lengthy.”
To remind the rest of the class. I offered the self described “straight white male conservative” AND ALSO self described “fiscally conservative Republican” that TXuser posted multiple times — a challenge to LIST ALL PRESIDENT TRUMP’S ACCOMPLISHMENTS in his first year in office. Here is the response:
“My list would be much shorter. After giving the matter considerable thought over the last 11.5 months, I can’t come up with a single one.”
Not a “single one!?!?!?!”
You are ABSOLUTELY the lowest form of DISHONESTY and misrepresentation of party affiliation and motives on MDN and elsewhere, I have EVER READ.
Obvious you are a deceitful Marxist liberal Democrat PLANT, here daily to DENIGRATE EVERYTHING Republican or Conservative. And not ONE word denigrating Democrats, EVER.
Sadly, you are the lowest form of SWAMP SCUM and the only fools are those that buy your DAILY DECEIT.
Have a nice day …
Poor Trump, he inherited such a mess of lowering unemployment numbers. What a burden to inherit 4.8% jobs.
The Muslim Usurper’s “trickle up” poverty was such a resounding success!
I was able to retire in style from the empire I was able to garner from “Cash For Clunkers.”
4.5% reduction in unemployment in Obama’s first year was pretty good. Especially considering every right wing rag was predicting the next Great Depression.
Also, the Obama administration doled out plenty of trickle down stimulus. It was requested by a republican Fed chairman (Paulson) and authorized by a bipartisan vote in congress.
Now we have a handful of amnesiac partisan hacks trying to tell us that Obama didn’t usher in any recovery and only their orange oligarch can possibly bring forth prosperity. In the form of corporate welfare, slashing taxes for companies already awash in cash while consumer demand from the lower classes, a small fraction of whom may get token tax cuts, will see negligible stimulus. The trump worship on this site is getting absurd.
As Bannon said: treasonous and unpatriotic.
As Murdoch said: fucking idiot
As several staffers have said: economically illiterate
The US economy bubble will pop and with the dysfunctional executive busy tweeting and golfing, one can predict about the same response when it does as when GW Bush read his little goat story: stained shorts and disbelief.
FAKE FACTS …
But still you can’t show us your REAL FACTS. Why not goeb? You got nothing?
It was. No economy grows without consumer demand. Congratulations on fooling yourself into believing that the rich hoarders will create massive employment centers when the population growth of America has slowed and the purchasing power of the increasingly indebted American people has declined in real terms since Nixon struck his dirty deal with China.
Curious why you need to disparage an entire religion to make an inane point?
Islam isn’t a religion, it is a plague.
And then you woke up:
http://www.politifact.com/truth-o-meter/statements/2017/sep/20/donald-trump/how-strong-job-growth-been-trumps-watch/
You can choose to endlessly cheerlead for an oligarch or you can look at this objective factual data. Can goeb and botvinnik admit reality? Probably not.
When can the Treasury expect your check returning your tax cut?
:::crickets:::
Happy New Year. 🎉
Surely you recognize the “Trump is clueless” deceitful MO.
Seems our old pain in the arse “Citizen X” after being banned, then went on as “Banned in San Diego,” also banned, is now back as “Trump is clueless.”
Here’s why:
1. In a post yesterday I called him on it and his reply, “What is a citizen X?” Funny, when I asked the same question of “Banned in San Diego” the response was EXACTLY the same.
2. As in the past, he repeatedly stalked you, me and Firsty. Same insults, deflective posts, off topic weeds wandering blather, etc.
3. From 11:55 p.m. Friday until 2:21 a.m. Saturday, I counted 14 consecutive posts by TIC directed at the three posters mentioned in number 2.
The last time this happened was when “Banned in San Diego” went on a rapid fire tirade with much more posts that were removed the next day and never heard from again.
I don’t know about you, but I filed my last response to TIC yesterday.
Just sayin’ …
is he anywhere in this picture?
Great pic.
And no, Citizen X is not in the photo.
He is serving time in the state pen …
It’s working!
Working for whom?
So, your unbridled hate for President Trump has denigrated your standards to post what looks like FAKE PHOTOSHOPPED PHOTOS? Pity …
So easy to get you riled up by posting a true undoctored photo. Amazing what thin skin you have, goeb. Can’t even admit your idiot president has the most historically bad combover ever.
The economy has NOT been affected by 45s as none of his policies are in effect. This is still due to Obama. 45s tax cut starts in a year and will temporarily and slightly benefit the middle class while mega corporations get a permanent cut they don’t need which will increase deficit and cause a recession again. Economy is dependent on 70% consumer demand which is determined by the working class, so if they have less $$ there will be less demand.
Americans have put their confidence behind President Trump in regards to the economy. The consumer confidence index, the manufacturing index, the industrial production index, construction spending, e-commerce retail sales, real manufacturing and trade industries sales, and countless other metrics are rising. This is based on optimism in President Trump’s policies.
Are you going to start actually posting these actual data points or are you just going to keep making unsubstantiated claims? Cause it looks to me like you’re deceiving yourself taking one point and plotting the future from it
How about you acknowledge the work it took to recover from the last republican fiscal disaster?
Thanks for posting the chart that shows Consumer Confidence under President Trump is higher than Obama. And when the chart updates in four years I suspect it will go higher …
As has already been correctly identified many times to you: Trump has zero accomplishments that have taken effect. The huge corporate tax rate gift he gave to Republican Party donors, well, watch as Apple pockets the money and continues to build almost all its products in China. Apple doesn’t need the tax break, they already have a 1.5% special tax deal in Ireland. Not one penny of it will flow from the Jersey Isles back to the USA because Apple’s donut is complete and Cook isn’t digging any more construction sites.
Denial ain’t just a river in Egypt.
Stupidest sentence ever.
CLUELESS sentence EVER.
Get out of your fantasy world..
Thought I was the only one preaching this. 45 has no policies in effect that affect the economy. This is all Obama’s work. Its been getting better and better since the last republican screwed it up…
“DNC Publicly Endorses ANTIFA”
Antifa is presently on the FBI terrorist list.
And you morons wonder why you’ve lost the White House, The Senate, The House, The Supreme Court, The Governorships and The State Houses.
You’ve lost Bannon, moron. Not too sad?
lol, you morons are hopeless.
Off topic. As botty always does when he knows he has zero data to prove his partisan bs.
“Always?”
Only the intellectually challenged use ABSOLUTE statements .,,
I try to match your endless hyperbole. How many times per day does botvinnik and goeb use insulting absolutes in their fact free rants?
You’re just another fool. Obama was a disaster for this country.
Quantify “disaster “. Before Trump was elected, the USA enjoyed record corporate profits, near record employment, gdp growth faster than all major trading partners except China, strong consumer confidence, secure homelands, no major foreign war expansion, the most stable and secure global currency, and so forth. What exactly did you not like, and what numbers do you have to show it?
Wow, you really ARE CLUELESS …
Is there some reason you are incapable of using facts to substantiate your extremely selfish greedy opinions?
The economy is going gangbusters because of Obama?
The multiple stock market records NEVER SEEN BEFORE IN HISTORY are because of Obama?
The unemployment numbers at decades low numbers are because of Obama?
The violent crime rates dropping in large cities last year are because of Obama?
The GDP growth over 3% under President Trump, never happened the last eight years before Trump took office, are because of Obama?
The Black and Hispanic employment numbers are at an all time highs because of Obama?
I could got on, but we all get the point, you being the exception.
Dave, some wise words from Dean Vernon Wormer:
“Fat, drunk and stupid is no way to go through life, son.”
Animal House, 1978 …
Look again, genious. Obama presided over consistent stable growth. Your republican heros, practically every one, pumped up the economy and then caused the bubble to burst.
Nobody with any economic knowledge expects Trump or any other president to be able to sustain 3% gdp growth over the long term.
“Look again, genious”
Your FAKE posts are as bad as your spelling.
Obama 3% GDP growth in eight years? Ah, no!
Trump 3% GDP in one year? More than once and to be continued.
So sorry, Trump hater …
This is MacDailyNews….and this article has what exactly to do with Apple?
Or is it perhaps that MDN staff are Trump fanboys?
MacDailyNews makes no mention of President Trump in their Take, nor does Aiello anywhere in MDN’s excerpts.
This article is about the macroeconomy which is about as germane to Apple as any topic could be.
Your comment reveals much – about you. President Trump is obviously living rent-free in your empty little head. Lay off the meth, tweaker.
Hell, sorry…all that meth somehow made me think that Trump was implied. Note to self: must rather drink more Kool-Aid.
Again, as stated above, President Trump is obviously living rent-free in your head.
good, be sure and try the Reverend Jim Jones “special recipe.”
Not before you win your Darwin award botvinnik.
Look, I know they didn’t mention Trump, nor did the original article, but there is no doubt that on a slow news day (with the massive snow storm blanketing the Eastern US), they needed a clickbait, so they delivered one.
And it is apparently working…
Wow, how insightful …
But he’s right. Almost every web site uses the clickbait business model, and although I admire some of them, including MDN, I understand the need for semiprostitution. Journalism has always been yellow, news has always been slanted, because they need to live, to feed themselves and their progeny, to draw another breath, to keep their sponsors interested in their services. But I’m OK with all of that. That’s capitalism, the thing that made America Great. We need more of it, and competing viewpoints are just as important as competing industries. Monoculture is as stultifying as monopoly, and leads to decay.
Guess I should have worded my response differently. I actually agree with Predrag in a “no sh*t Sherlock” kinda way.
In other words, it’s like saying the sun will set today. We all know that as well as tech readers on the savviest tech site out there.
Monetizing clickbait is as old as the Internet itself. Say something enlightening and NEW for a change.
Your post is light years more interesting, specifically your thoughts on culture and the media.
“We need more of it, and competing viewpoints are just as important as competing industries. Monoculture is as stultifying as monopoly, and leads to decay.”
Rocky Balboa, “Absolutely.”
“That’s capitalism, the thing that made America Great.”
Rocky 2.
The following link is for news junkies only. Long haul exhaustive read, but every word is absolutely fascinating and insightful first person behind the scenes account.
A Pulitzer prize winning NYT investigative reporter taking on the Washington Swamp and his bosses and after many years of hard work, government filing personal lawsuits and multiple disappointments, wins …
https://theintercept.com/2018/01/03/my-life-as-a-new-york-times-reporter-in-the-shadow-of-the-war-on-terror/
this morning, Drudge:
DECEMBER JOBS: +148K
BLACK UNEMPLOYMENT RECORD LOW
One whole month… During xmas. Who would have ever thought?
As shown by Politifact above, Trump’s “historic” employment record is in the range of employment increases seen for the last 8 years. Completely inertia driven by years of constant growth and domestic peace. Not that you Trumpanzees would ever admit it. We just spent 8years listening to y’all claim America was falling apart and then bam, the magic Orange Usurper arrived, so within two weeks of his first donor tax gift, all is right with the country again. You fact free propagandists are pathetic.
When the unemployment number started going down during Obama’s terms, all the GOP would say that there is something wrong and fishy. Even up to his last month in office.
Enter Trump and all of a sudden all the same same jobs numbers aren’t bad but good. Just like after hurricane Irma and Maris unemployment claims dropped off significantly which the GOP used to show the Trump economy in action. Problem was, those areas of Texas and all of Fl were eligible for disaster unemployment benefits so it didn’t show up in the standard numbers.
don’t be ridiculous…the amazing renaissance of the American economic juggernaut is the work of one man and his team:
Donald J. Trump: The Man Who Saved America.
Then you should have no problem laying out Trump policies that has created this “American economic juggernaut”.
Go….
drop some more acid.
Only someone on “something” would write what you just wrote in response to the question.
You sending (assuming you work) your tax cut back to the Treasury?
:::crickets:::
I won’t be sending my tax cut back because I’m not certain there will be one. My tax preparer refuses to answer my questions, claiming to be in the dark as to the exact ramifications of the new tax bill. As a stab in the dark, I prepaid my property taxes in case they might increase. Usually in business and commerce tax liabilities are laid out in advance but this time politics triumphed: it was more important to score some kind of win than it was to be transparent; and now the IRS is doing double-duty. I do understand the political pressure our elected representatives felt from their constituents to pass tax reform (mainly their campaign contributors) so I forgive them, as is only human. I might not vote for them again, though, depending on the hit to my pocketbook. Does anyone else, except a political fanatic or apologist, feel any different? Money is the one unifying principle, or so I understood.
Trump policies?
I believe you mistakenly mean President Trump rollback of stifling regulations under the Obama administration that are now positively adding to economic recovery.
Get a grip …
Name one Obama regulation that negatvely impeded your prosperity in any meaningful way. Now tell us exactly what Trump did to fix that specific regulation.
We’re waiting.
Obvious you have no idea of the stifling regulations in the executive orders under Obama that President Trump rescinded. And passed quite a few of his own to unleash government strings that allow economic growth.
Just compare the stock market the last eight years to the last 11 months.
Nuff said …
So name one already. Why can’t you name one regulation???
CITIZEN X, BANNED IN SAN DIEGO, TRUMP IS CLUELESS.
Fingers crossed MDN catches up to you ..,
What is a citizen X?
I will wait for you to answer the question or admit that you are just repeating right wing propaganda. You seem incapable of backing up any of your assertions with any relevant data whatsoever. Kinda like clueless Trump.
Which part of “lowest level since 1990” don’t you understand?
What part of “Correlation does not imply causation” don’t you understand? The “post hoc ergo propter hoc” error in logic is obviously alive and well. Just because X and Y happen at the same time does not mean that X caused Y. It could be that Y caused X, that X and Y were both separately caused by Z, or that X and Y are co-occuring due to a random coincidence.
bluhbluh buh buh bluhbluhbluh
With that logic, then Obama’s so-called recovery could very well have nothing to do with his policies and the recovery was IN SPITE of his policies and was excruciatingly slow BECAUSE of his policies.
I don’t mind that it took 8 years of stable growth to recover from what it took GW Bush 8 years to break.
Why do you want a boom &bust economy instead of endless 2% growth and full employment? What precisely is wrong with that?
this is what’s “precisely wrong with that”:
China’s GDP growth in 2016 was +7%.
Why do you think this could possibly be, genius? Perhaps you should compare average age and wage of Americans to Chinese.
So what has Trump done to incentivize a company to suddenly invest production in America? Giving a tax cut to corporations that have no shortage of capital? Tweet shaming CEOs into timing their firings to days when Trump is busy golfing? Or is the isolationist rhetoric stimulating to you? Building a great wall around America like your hero Orange Sphincter wants to do will only accelerate the trade gap as America grays and the rest of the emerging economies undercut labor costs across the board. America could have zero taxation and still corporations would build all their new factories in China. 7% growth is slowing as China matures. America’s growth has already slowed because it is more mature and its population growth has been slowed by those idiots who intentionally ignore the economic growth contributions from strong immigration.
Wrong again. Only the last year under Bush the economy tanked thanks to the sub prime lending crisis that was passed by Democrats and took years to implode.
Clueless, you certainly are …
Bipartisan deregulation of the financial industry was a mistake 20 years ago. So why do you support Trump’s insistence to repeat the mistake today???????
Medicare Part D and the most expensive longest war in American history didn’t have any negative effect on the economy?
Who is calling who clueless?
Wouldn’t we all be happier if growth and inflation was a rip snorting 7% per year. Everyone wants their housing, food, and utilities to cost 7% more every year, right? That’s what happens when economic bubbles form as is happening now.
How is the common man going to pay for this short term stimulus (sold as fantastical growth acceleration not seen in 2 generations by the current fiscally illiterate president)? Well they will do what the federal govehas been doing for decades under both parties: accrue debt!!!!!
The Bureau of Labor and Statistics shows that corporate takeover of the federal government , despite dramatic gains in technology, has been skimmed by the elites while average household income in real terms has been flat since 1964.
Oh thank you Trump for solving massive debt by slashing corporate taxes with no requirement for any wage increases or employment gains. All promised by sultan Trump, all religiously believed by goeb and botvinnik without a shred of credible economic analysis that shows anything other than a massive wealth grab by the rich and long term massive debt and increased taxes for everyone else. The Trump Tax Act is so blatantly anti-working class, the tiny tax breaks for the lower classes expire while corporate debt-booming giveaways are projected to add trillions to taxpayer expenses indefinitely. No corporate tax cut has ever paid for itself, but we’ll just wait for goeb to find some data to prove anything that Trump claims. Anything.
What did Trump have to do with it considering he’s been in office for less than a year?
“I hate Trump so much, that I’m sending my tax cut back to the Treasury!”
…said no libtard ever.
Trump Tax cuts
Less than $10K – 4% of taxpayers in your income group would get a tax cut in 2019. By 2027, 1% would get a tax cut and 2% would pay more in taxes.
$10K – $20K – 38% of taxpayers in your income group would get a tax cut in 2019. By 2027, 3% would get a tax cut and 23% would pay more in taxes.
$20K – $30K – 45% of taxpayers in your income group would get a tax cut in 2019. By 2027, 5% would get a tax cut and 22% would pay more in taxes.
$30K – $40K – 61% of taxpayers in your income group would get a tax cut in 2019. By 2027, 9% would get a tax cut and 21% would pay more in taxes.
$40K – $50K – 72% of taxpayers in your income group would get a tax cut in 2019. By 2027, 12% would get a tax cut and 21% would pay more in taxes.
$50K – $75K – 81% of taxpayers in your income group would get a tax cut in 2019. By 2027, 14% would get a tax cut and 26% would pay more in taxes.
$75K – $100K – 84% of taxpayers in your income group would get a tax cut in 2019. By 2027, 22% would get a tax cut and 20% would pay more in taxes.
$100K – $200K – 84% of taxpayers in your income group would get a tax cut in 2019. By 2027, 32% would get a tax cut and 30% would pay more in taxes.
$200K – $500K – 85% of taxpayers in your income group would get a tax cut in 2019. By 2027, 43% would get a tax cut and 40% would pay more in taxes.
$500K – $1M – 91% of taxpayers in your income group would get a tax cut in 2019. By 2027, 58% would get a tax cut and 37% would pay more in taxes.
Over $1M – 80% of taxpayers in your income group would get a tax cut in 2019. By 2027, 61% would get a tax cut and 39% would pay more in taxes.
bullshít.
The numbers did not ultimately come from the New York Times. They were provided by the Joint Committee on Taxation, which is appointed by and controlled by the Republican majority in each House of Congress.
https://www.nytimes.com/interactive/2017/11/30/us/politics/tax-cuts-increases-for-your-income.html
f the NY Times and f you…
It’s so cold that Elizabeth Warren is claiming to be an Eskimo.
By all means, please rebut.
By all means, please reply to “are you sending your tax cut back to the Treasury” query.
This is obvious and very simple to understand.
When you pay the lion share of taxes, you get a lion share share of tax relief.
Who has a problem with that? …
I do. Why do the rich get a bigger PERCENTAGE tax cut than the working man?
The nature of a progressive income tax system (progressive in arithmetical, not political, terms) like the USA has had since 1917, is that people with higher incomes pay a higher percentage than people with lower incomes. That is because people with higher incomes, not surprisingly, have more disposable income that is not tied up paying for food, housing, utilities, and other unavoidable fixed expenses. The arrangement of tax brackets embodies any progressive income tax system.
The Trump Tax Reform, even in the short run, is regressive (again, in arithmetical, not political, terms) because it increases the share of total revenue being collected from poorer people relative to richer ones. Even if middle income taxes go down, what is left still represents a larger share of total revenue than was collected before the reform.
Beyond that, most of the cuts that benefit lower-income Americans in the short run are scheduled to expire, while many of those that benefit richer Americans are permanent. By 2026, the middle class will be paying $5T more than today, the upper class $3T less, and the shortfall will be made up by an increase in the deficit.
Thank you for your support of President Trump, Mr. straight while male fiscal conservative and Republican ..,
No, libertarian retards would never spend any of their personal money on anyone else.
Liberals like just about every one in Cupertino do however give generously to charitable organizations for the betterment of all.
I don’t understand why you ignore the gains made during democratic administrations. You imply over and over again that Trump is your personal savior while the data plainly shows steady gains under the heathen administrations of the party you have sworn to blog against daily … And brainlessly.
Uh, are you serious given the economic numbers?
We need straight talk, not ALTERNATIVE LIBTARD THEORIES …
All very interesting that you demand straight talk while consistently denying objective historical facts. The only thing you post here is partisan rhetoric. Never data.
Why do you think that the Trump Administration is trying to ban the terms “evidence-based” and “science-based” from government documents? Having to limit yourself to verified reality is so suffocating for free spirits like GeoB and Mr. Trump who want to base all their opinions on alternative truths.
Thanks again for your support of President Trump …