Tuesday, February 12, 2019

Average American Realizes Trump Tax Bill Screwed Them

Good Day World!

Democrats can rightly say "I told you so" when they fought Trump's tax bailout for corporations and 1 percenters last year.

The results of Trump's con for the wealthy is surfacing as the average American is seeing their tax returns down by 8.0 percent.

A host of economic indicators shows the 2017 Tax Cuts and Jobs Act failed to achieve its key promise, a major increase in investments by business that would create more jobs.

In addition, millions of residents of blue states are about to get hit with big federal income tax increases while many American expatriates who own businesses overseas are also facing unexpected new tax bills.

This kind of corporate tax timing trick has been employed several times since the John F. Kennedy administration in 1962.

The effect each time was to create a brief surge in corporate investment, called capital expenditures, followed by a slump.

This year is no different. The average American is feeling the true effect of the tax scam the Republicans pushed through Congress.

Related: Consumer Sentiment Drops To Lowest Levels of Trump's Presidency

Related: Lower refunds Might Hurt The Economy

Time for me to walk on down the road...

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