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Alfredo Ortiz: The tax-cut boom — Trump and GOP were right, Democrats and media flat out wrong
This week marks the second anniversary of President Trump's tax cuts, and their results are a vindication of Trump and his Republican colleagues who passed them over hysterical liberal opposition.
Before they passed, Speaker Nancy Pelosi called the tax cuts “Armageddon” and “the worst bill in the history of the United States Congress.” Senate Minority Leader Chuck Schumer said, “Republicans will rue the day they passed.” Democratic presidential candidates Cory Booker, Bernie Sanders and Elizabeth Warren called them “cruel,” “highway robbery” and “a heist,” respectively.
So how did these predictions turn out? Average wages have risen by 3 percent or more for the last 16 straight months — roughly 50 percent faster than the Obama-era average. Real disposable personal income per household has risen by $6,000 since the tax cuts passed, shattering expectations.
Wage growth has been especially strong for less-skilled employees, growing by 7 percent over the last year
the median income of $60,000 pays no federal income tax at all.
This week marks the second anniversary of President Trump's tax cuts, and their results are a vindication of Trump and his Republican colleagues who passed them over hysterical liberal opposition.
Before they passed, Speaker Nancy Pelosi called the tax cuts “Armageddon” and “the worst bill in the history of the United States Congress.” Senate Minority Leader Chuck Schumer said, “Republicans will rue the day they passed.” Democratic presidential candidates Cory Booker, Bernie Sanders and Elizabeth Warren called them “cruel,” “highway robbery” and “a heist,” respectively.
So how did these predictions turn out? Average wages have risen by 3 percent or more for the last 16 straight months — roughly 50 percent faster than the Obama-era average. Real disposable personal income per household has risen by $6,000 since the tax cuts passed, shattering expectations.
Wage growth has been especially strong for less-skilled employees, growing by 7 percent over the last year
the median income of $60,000 pays no federal income tax at all.
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