July 14, 2018

Wages drop in wake of Trump tax cut

CBS -  Six months after the Tax Cut and Jobs Act became law, there's still little evidence that the average job holder is feeling the benefit.

Worker pay in the second quarter dropped nearly one percent below its first-quarter level, according to the PayScale Index, one measure of worker pay. When accounting for inflation, the drop is even steeper. Year-over-year, rising prices have eaten up still-modest pay gains for many workers, with the result that real wages fell 1.4 percent from the prior year, according to PayScale. The drop was broad, with 80 percent of industries and two-thirds of metro areas affected.


Anonymous said...

Life is getting steadily worse for the working class, and when people fear uncontrollable loss, they defend themselves as best they can, even if it's only in an objectively ugly, pointless way.

Of course, some individuals live in such a state of fear, regardless of the objective conditions. Their state of mind is known as "paranoia", and if it gets to a psychotic level, they'll eventually be forced to kill as many of the ones threatening them as they can, in hope that that will back the rest of them off. We would do the same in their position.

Anonymous said...

And here's an example of the "steadily worse", plausibly attributable to the continuing influx of illegal economic migrants from Mexico and points south.

Anonymous said...


Things getting "steadily worse" has nothing to do with undocumented immigrants coming north and every thing to do with elite greed and corporate greed. Blaming immigrants for the economic losses of working people in this country is exactly what the elites and corporations want. If the elites and corporations can keep working class whites from joining with other workers, then nothing will ever improve for all workers. Joins in solidarity with the rest of the 99%, and demand better wages and worker protections, and everyone will benefit. Otherwise you are a tool for the elite and corporations.