{"id":2557,"date":"2018-05-01T14:40:00","date_gmt":"2018-05-01T14:40:00","guid":{"rendered":"http:\/\/democrats.org\/blog\/2018\/05\/01\/no-evidence-whatsoever-trump-tax-helps-workers\/"},"modified":"2018-05-01T14:40:00","modified_gmt":"2018-05-01T14:40:00","slug":"no-evidence-whatsoever-trump-tax-helps-workers","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/no-evidence-whatsoever-trump-tax-helps-workers\/","title":{"rendered":"\u2018No Evidence Whatsoever\u2019 Trump Tax Helps Workers"},"content":{"rendered":"

When Republicans passed the Trump tax, they said it would deliver an investment boom and would trickle down to help American workers – those were both lies.<\/p>\n

 <\/p>\n

Yesterday, Marco Rubio finally admitted the truth about the Trump tax<\/strong> (which he voted for): it’s not helping American workers.<\/strong><\/p>\n

 <\/p>\n

Business Insider<\/a>: “MARCO RUBIO: There's 'no evidence whatsoever' that Trump's tax bill has helped American workers<\/strong>”<\/p>\n

 <\/p>\n

Associated Press<\/a>: “Sen. Rubio: Corporations aren’t investing tax cuts in jobs<\/strong>”<\/p>\n

 <\/p>\n

Republicans promised that corporations would reinvest their tax cuts to benefit American workers, but there’s no sign that is happening.<\/strong><\/p>\n

 <\/p>\n

New York Times<\/a>: “Investment Boom From Trump’s Tax Cut Has Yet to Appear<\/strong>”<\/p>\n

 <\/p>\n

New York Times<\/a>: “Republicans sold the 2017 tax law as ‘rocket fuel’ for American investment and growth, saying that corporations — flush with cash from lower tax rates — would channel money back into the economy by building factories and offices and investing in equipment, which would help companies grow and provide winnings for workers. […] But, so far, hard evidence of such an acceleration has yet to appear in economic data<\/strong>, which show more of a steady investment roll than a rapid escalation.”<\/p>\n

 <\/p>\n

MarketWatch<\/a>: “More worrisome, business investment fell for the third time in four months<\/strong> based on a closely followed measure known as orders for core capital goods. Core orders dipped 0.1%.”<\/p>\n

 <\/p>\n

Big corporations and wealthy shareholders are the only real beneficiaries as the Trump tax has not boosted the economy or helped workers.<\/strong><\/p>\n

 <\/p>\n

New York Times<\/a>: “And while there are pockets of the economy where investment is picking up — among large tech companies and in shale oil business, for example — corporate spending on buying back stock is increasing at a far faster clip, prompting a debate about whether the law is returning money to the overall economy or just rewarding a small segment of investors.<\/strong>”<\/p>\n

 <\/p>\n

Bloomberg<\/a>: “America’s companies are swimming in cash thanks to the big cut in the corporate tax rate<\/strong>.  The roughly 180 companies in the S&P 500 Index that have reported results saw their effective tax rate drop by 6 percent on average in the first quarter. That saved them a total of almost $13 billion in taxes, an analysis by Bloomberg shows. About a third of that went to 44 financial firms.  What companies are doing with that boatload of money is a bit muddy.”<\/p>\n

 <\/p>\n

CNN<\/a>: “America's economic growth slowed at the beginning of 2018 as household spending stalled in spite of recent tax cuts<\/strong>. The US economy grew at a rate of 2.3% in the first quarter, according to the Commerce Department's preliminary report on Friday. That's slower than the 2.9% pace in the fourth quarter of 2017.”<\/p>\n","protected":false},"excerpt":{"rendered":"

When Republicans passed the Trump tax, they said it would deliver an investment boom and would trickle down to help American workers – those were both lies.   Yesterday, Marco Rubio finally admitted the truth about the Trump tax (which he voted for): it’s not helping American workers.   Business Insider: “MARCO RUBIO: There's 'no <\/p>\n","protected":false},"author":0,"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-2557","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\n\u2018No Evidence Whatsoever\u2019 Trump Tax Helps Workers - 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\/no-evidence-whatsoever-trump-tax-helps-workers\/\" \/>\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=\"2018-05-01T14:40:00+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" 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\/no-evidence-whatsoever-trump-tax-helps-workers\/\",\"url\":\"https:\/\/democrats.org\/news\/no-evidence-whatsoever-trump-tax-helps-workers\/\",\"name\":\"\u2018No Evidence Whatsoever\u2019 Trump Tax Helps Workers - 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