Sicilianthing

Trump & Clan scramble for a Tax Plan for the Middle and Poor classes sinking... but 10% won’t cut it !

The First TaxShamPlanS**m for the Rich has evaporated and no Trickle Down Economics evolved,

Why is Trump using the Same applications as all those before him ?


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Most Americans say their finances haven't improved since the e******n

27 percent of people earning under $30,000 a year said their finances have worsened since the last e******n.

A majority of Americans don’t believe their financial situation has improved since the last e******n, according to the results of a new survey released just two weeks before the midterms.

Since the 2016 p**********l e******n, 62 percent of Americans said their financial situation hasn’t improved, according to a survey conducted by Bankrate.

Despite a strengthening economy and a 3.7 percent unemployment rate, the lowest in nearly 50 years, the traditional indicators of economic health aren’t providing the real picture of how individual Americans are feeling, said Mark Hamrick, senior economic analyst at Bankrate.

“There is distance between what the broad brushstroke economic data tells us and the experience of individuals in our country,” he said. “It doesn't align perfectly with the experience of each and every person.”

Of those not satisfied with their finances, less than one-third said they blamed President Donald Trump and the Republican-controlled Congress, according to the survey.

The lowest earners may be feeling the brunt the most. Of those making less than $30,000 per year, 78 percent said their financial situation has not improved, while 27 percent said their finances have worsened since the last e******n.

“The rising tide has certainly not lifted all boats,” Hamrick said. “There is the risk that individuals see those headlines [about personal income tax cuts] and say 'Wait a minute, that isn't my experience.'”

Americans who meet the retirement age of 65 and older were also pessimistic, with 76 percent reporting that they feel their financial situation has not improved since the last e******n.

Meanwhile, 54 percent of people earning more than $75,000 per year said they are feeling better about their finances, with 26 percent even saying they had improved in the past two years, according to the survey.

Hamrick said there may be two key reasons why higher earners are feeling more optimistic.

“With the broad improvement in the stock market, wealthier individuals tend to be more highly invested,” he said. “We also know the benefits of the personal income tax cut have benefited higher income individuals.”

Ahead of the midterm e******ns, a poll from the Pew Research Center found that 74 percent of Americans say the economy is a “very important” issue as they head to the polls.

But no party seemed to have a clear edge.

When Pew asked whether Republicans or Democrats would do a better job of handling the economy, respondents were pretty split. Democrats received 41 percent of the v**e, while Republicans had 40 percent.

To sum it all up: Everyone agrees the economy is important, but there appears to be no strong preference as to which party can improve it.

Airforceone

There is no mistery to the American economy when we reach a point where, inflation is rising, wages now are stagnant, and unemployment will follow. Due to inflation rising prices the bottom 90% of our population stops buying stuff.

When unemployment rises we have lost funds to the federal government. Every recession this country has had. The only way to stop it is through government spending and lower interest rates that slows the unemployment rate and injects cash into our economy and people start buying stuff again. That will now stimulate the private sector because we are buyin stuff. Unfortunately with the Trump tax cuts we are not putting cash in the hands of the consumer just giving more cash to the upper 1% and we know now that does nothing and the trickle down effect never occurs.

Just think about the $2.4 Trillion in deficit spending and the only people that benefit are 1% of the population. Where would this economy be today if those wealthy tax cuts were put directly into the hands of the bottom 90% of the American people or investing $2.4 trillion over 8 years of investing in our infrastructure. This creates jobs people are now buying stuff the private sector benefits by this spending.

If that $2.4 trillion was invested into Public spending I can say that investment would pay for itself and there would be no deficit due to people buying stuff

woodguru

In the past the wealthy understood that a robust economy depends on a thriving middle class, people have to be able to afford whats being manufactured. Wealthy industry leaders understood that paying high taxes was their contribution to the economic growth and recovery as government kicked down in the form of infrastructure spending that put americans to work with good jobs.

This giving the wealthy money that's supposed to kick down to the working class is a deeply failed experiment that the GOP refuses to give up on.

Sicilianthing

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Noted and agreed something is terribly wrong with this whole picture.

Sicilianthing

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Also noted and agreed

PeterS

And here I thought conservatives were boasting of how well they are doing since Trump took over? Could it possibly be that only 30% of the nation is conservative or perhaps they are all just lying like thier fearless leader...

Sicilianthing

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I could careless what party they belong to Peter, it affects all middle and lower class.

Stay focused

Airforceone

You are 100% correct putting the cash in the hands of the actual consumers works.

I was in the Electrical contracting business for 35 years. The years that I paid the most taxes was when I was making a ton of money. Pay high dollar in taxes making a fortune pay low tax in dollars I was not doing so good.

When the bottoms 90% of wage earners have cash there spending it on stuff. Trickle down didn’t work under Reagan, Bush, Trump all it did was explode the deficit and gave all the nation’s wealth to the upper 1%. There doing it on purpose to they want to bankrupt this country and crate an Autocratic government controlled by the wealthy.

(THATS WHY THIS MID TERM E******N IS SO IMPORTANT PROBABLY THE MOST IMPORTANT IN THE HISTORY OF THIS COUNTRY. If the democrats do not get control of either branch this country is cooked democracy as we know it are gone.

Sicilianthing

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Steady immigration legal and illegal is destroying the Wealth distribution in this country...

Please go there.

PeterS

I am focused. Trump will never admit that his magnificent economy is faltering and his followers will believe anything that comes out of his mouth. The t***h will never matter so long as we have a liar for president and that you can't see that means that you lost your focus a long time ago...

Sicilianthing

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Uhhh valid points but no I’m not out of focus, I’m the one who supports Trump still from a distance but calling out all the bulls**t lies also...

I measure his intentions by the level of his inactions and those are mounting.

You and I are mostly at opposite views about what America was, is and supposed to be going forward.