Will Trump plan raise pay $4,000? Ask your boss
President Donald Trump says you are about to get a big pay raise.
In fact, according to the president’s press secretary, under his tax reform bill “a typical, hardworking American family would get a $4,000 pay raise.”
A number of economists and other experts dispute this claim, and back it up with numbers, but we don’t have to get into math.
I’m terrible at math.
There is a much simpler way for you to find out if what the president says is true, or if you are being scammed.
Take a moment today, stroll into your boss’s office and ask him or her:
“How soon after President Trump’s tax play passes can I expect my $4,000 raise?”
They’ll be laughing too hard to answer you with words, but you’ll get the idea.
You’ve been conned.
“My Council of Economic Advisers estimates that this change ... would likely give the typical American household a $4,000 pay raise,” Trump said in a speech to truckers in Pennsylvania.
Even the best estimates by Trump’s own people say that might – might – happen over eight years.
Eight.
By then, the tax cuts Trump is promising to regular Americans will have expired while the tax cuts to big businesses – worth billions – will go on forever.
The big boys got their cut in writing. Your raise?
Not in writing.
The argument that the president and the Republicans in Congress have been making is that if they drastically cut taxes for our wealthiest brothers and sisters, and their companies, they will raise your wages and create more jobs.
The thing is, corporate profits in America area already at an all-time high. Meaning they could be creating jobs now.
Not only that, but when Trump’s own guy, his top economic adviser, Gary D. Cohn, asked a bunch of chief executives how many of them would invest the money they saved from tax cut, only a few raised their hands.
That’s because the law Trump is pushing does not REQUIRE companies to use the big windfall from the tax cuts to create new jobs.
Instead, they could – and probably will – pocket the cash.
The Communications Workers of America asked the companies that employ its members to promise to give workers a pay increase if they get a tax cut.
The companies mocked the suggestion. Calling it a publicity stunt.
Actually, it’s a fairly simple question. One that you might ask Sen. John McCain and Sen. Jeff Flake before they vote on the tax plan.
If the Republican-controlled Congress wants to give the wealthiest among us a big fat tax break why is there no requirement for them to use that money to create jobs and increase wages?
Not a suggestion.
Not an expectation.
Not a wish.
A requirement.
As in, you ONLY get this tax break if you use the money to increase wages or create jobs.
The president’s press secretary, Sarah Sanders, tweeted: “The average American family would get a $4,000 raise under the President’s tax cut plan. So how could any member of Congress be against it?”
Simple answer?
Because it’s a hoax.