Supply-Side Economics

[Chicks]

The Trump tax cuts still aren't helping regular folks

https://finance.yahoo.com/news/trump...152707820.html

Seven months after they went into effect, the Trump tax cuts are sharply boosting corporate earnings.

Ordinary Americans are still waiting.

A quarterly wage index administered by Payscale, the compensation-analytics firm, found that income actually fell by 0.9% from the first quarter to the second quarter of this year. The Trump tax cuts went into effect on Jan. 1 of this year, and on their own should have increased take-home pay for about 65% of households, according to the Tax Policy Center.

But that’s not what workers are reporting in the Payscale survey, which solicits information from 300,000 workers each month. “I’d like to say it’s an anomaly, but I’m concerned it’s not,” Payscale chief economist Katie Bardaro tells Yahoo Finance. “So far, there hasn’t been any bolstering of paychecks for the typical worker.”

Gee, what a surprise! I'm SHOCKED that Whell got this so wrong.

[whell]

Originally Posted by Chicks

The Trump tax cuts still aren't helping regular folks

https://finance.yahoo.com/news/trump...152707820.html


Gee, what a surprise! I'm SHOCKED that Whell got this so wrong.

Oh, I see. Yahoo News takes a TINY data slice quarter over quarter and decides that an economic plan isn't working and Americans aren't noticing. RIIIGGGGHHTT!

If you expand the data slice just a tiny bit, year over year, it looks a weeeeee bit different.

Wages in the United States increased 4.56 percent in April of 2018 over the same month in the previous year.

https://tradingeconomics.com/united-states/wage-growth

If this keeps up, and it shows no sign of abating since the labor market continues to show strength, year over year wage growth will be quite strong. Inflation is a risk, but the Feds don't seem surprised by anything that's happening and believe that current inflationary trends are on par with expectations established in 2017.

Incidentally, we also have competing info from USA Today and Glassdoor that suggested June 2018 was the strongest month for wage growth 2018 YTD.

"With unemployment hovering around historic lows, employers' need to fill roles climbs," said Glassdoor Chief Economist Andrew Chamberlain in a press release. "What results is that more workers, especially in high demand industries like healthcare, finance, and e-commerce, are in the driver's seat to negotiate for better pay in order to fill these roles."

The Glassdoor data showed that traditional blue-collar jobs -- such as truck driver, warehouse associate, and materials handler -- posted large wage gains. The increases were tied to the increasing demand for manpower in those areas created by growth in e-commerce, and Chamberlain expects that wages for these positions will continue to climb throughout 2018.

I'd say things are moving along as pretty well. But hey, if you want to cherry pick the stuff that looks like bad news (which really might just be skewed reported based on a limited data set), and then try to spike the football with it by suggesting that "Whell got this so wrong", well you go right ahead little Chicklet.

[finnbow]

Originally Posted by whell

Oh, I see. Yahoo News takes a TINY data slice quarter over quarter and decides that an economic plan isn't working and Americans aren't noticing. RIIIGGGGHHTT!

You took the one Carrier incident (subsequently discredited) as proof-positive of Trump's wonderfulness.

[whell]

Originally Posted by finnbow

You took the one Carrier incident (subsequently discredited) as proof-positive of Trump's wonderfulness.

Ummm....false equivalence? Oh Bob!

[bobabode]

Originally Posted by whell

Ummm....false equivalence? Oh Bob!

You can't really be this dense, can you?

Waving your arms around and screeching 'false equivalence' like a Minah bird isn't some sort of magic cloak that shields you when you are shown to be a hypocrite, Mike.

Sorry, bro.
F-

[whell]

Oh, and the Carrier deal has not been "discredited", as much as you'd like to believe that.

http://www.politifact.com/truth-o-me...plant-indiana/

We previously rated Trump's promise to keep the Carrier plant in Indiana a Promise Kept because Carrier decided to reverse, in part, its plan to move some of its operations to Mexico, preserving about 800 jobs. We knew at the time that a different set of workers would still lose their jobs as Carrier moved fan coil manufacturing lines to Mexico in 2017.

Nothing material has changed since we last wrote about this in January, except we know exactly how many workers will be laid off, 632. Our rating remains a Promise Kept.

But hey, I know you really need to believe that it was "discredited", so if you you don't want to read the linked info, I'll understand.

[finnbow]

You're response indicates that it was a partially kept, yet misleading, promise and it remains an example of you using a single (somewhat misleading) data point to try to illustrate a nonexistent trend. Fail.

[whell]

Originally Posted by finnbow

You're response indicates that it was a partially kept, yet misleading, promise and it remains an example of you using a single (somewhat misleading) data point to try to illustrate a nonexistent trend. Fail.

You're so cute. Politifact calls it a"promise kept", but somehow that filters through your slanted mind as a fail. Hillarious!

[Chicks]

Best be careful using Politifact, Whell. Your Dear Leader's lies are regularly fact checked there. It doesn't reflect well on him, or, by proxy, you.

Here's a recent one on his utterly unqualified economic advisor. Pants on Fire.

http://www.politifact.com/truth-o-me...ling-rapidly-/

[donquixote99]

Whell is here to enjoy fighting with the liberals. So even a poor little unsupported cry of 'false equlivalence' keeps the fight going.