{"id":1003767,"date":"2019-02-13T11:39:18","date_gmt":"2019-02-13T15:39:18","guid":{"rendered":"https:\/\/democrats.org\/?p=1003767"},"modified":"2024-05-23T20:09:38","modified_gmt":"2024-05-23T20:09:38","slug":"trumps-economic-policies-only-benefit-those-at-the-top","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/trumps-economic-policies-only-benefit-those-at-the-top\/","title":{"rendered":"Trump\u2019s Economic Policies Only Benefit Those At The Top"},"content":{"rendered":"

Trump may try to tout his economic policies, but the reality is that they have only benefited those at the top. Trump\u2019s tax law led to the national debt surpassing $22 trillion for the first time in history, and did nothing to benefit workers.<\/p>\n

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The national debt surpassed $22 trillion for the first time in history, in part because of Trump\u2019s tax law, and could jeopardize our economic security.<\/p>\n

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USA Today<\/a>: \u201cThe national debt surpassed $22 trillion for the first time on Tuesday, a milestone that experts warned is further proof the country is on an unsustainable financial path that could jeopardize the economic security of every American.\u201d<\/p>\n

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Axios<\/a>: \u201cThat figure has climbed at a faster pace following the enactment of President Trump’s tax cut bill in December 2017.\u201d<\/p>\n

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Trump promised that his tax law would raise wages. Instead, after touting one-time bonuses, corporations continue to buy back billions in stock.<\/p>\n

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NBC News<\/a>: \u201cCorporations are using savings from the 2017 tax law to continue to buy back billions in stock after trumpeting employee bonuses and benefits.\u201d<\/p>\n

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NBC News<\/a>: \u201cFor many of those same companies, a tiny fraction of the total number of U.S. businesses, executives haven’t yet announced another round of bonuses or wage increases with the same fanfare \u2014 even though the tax law continues to mean billions for their bottom lines. \u2026 Most American businesses that announced bonuses and wage increases seem to be more like Emerson, which has \u2018no plans to make an additional 401(k) contribution this year,\u2019 a company spokeswoman said. That’s what has made the promise of higher compensation so far elusive.\u201d<\/p>\n

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A record 7 million Americans are 90 days or more behind on their auto loan payments, which economists warn is a red flag.<\/p>\n

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Washington Post<\/a>: \u201cA record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis. Economists warn that this is a red flag.\u201d<\/p>\n

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The Federal Reserve chair warned that income inequality was the biggest challenge in the next 10 years as income growth for working-class Americans \u201chas really decreased.\u201d<\/p>\n

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Washington Post<\/a>: \u201cPowell, who was appointed by President Trump but has been a frequent target of Trump\u2019s ire, said he was concerned that income growth for middle- and working-class Americans \u2018has really decreased,\u2019 while \u2018growth at the top has been very strong.\u2019 Powell pointed out that the United States used to be a global leader in mobility \u2014 the ability of people born into poverty to move up to the middle class or even the wealthiest echelons of society. But that is no longer true.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Trump may try to tout his economic policies, but the reality is that they have only benefited those at the top. Trump\u2019s tax law led to the national debt surpassing $22 trillion for the first time in history, and did nothing to benefit workers.   The national debt surpassed $22 trillion for the first time […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1003767","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nTrump\u2019s Economic Policies Only Benefit Those At The Top - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/trumps-economic-policies-only-benefit-those-at-the-top\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-13T15:39:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-23T20:09:38+00:00\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/trumps-economic-policies-only-benefit-those-at-the-top\/\",\"url\":\"https:\/\/democrats.org\/news\/trumps-economic-policies-only-benefit-those-at-the-top\/\",\"name\":\"Trump\u2019s Economic Policies Only Benefit Those At The Top - 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