Wednesday, August 15, 2018

Charting the Trump Economy

Center for American Progress summarizes The Trump Economy in One Chart.

Trump’s economic agenda has been relentlessly aimed at helping big corporations, the wealthy, and Trump himself at the expense of the rest of us—and it’s succeeding wildly.

New numbers show that for Americans, real wages are stagnant and even declining because consumer prices (costs for everyday spending) are rising. Americans are losing purchasing power: “A separate report released Friday (Aug. 10) showed average hourly earnings were flat in July, and average weekly earnings fell 0.2%”

At the same time, big corporations are stuffing their pockets thanks to Trump & Co.’s December tax scam, and making sure not one drop trickles down.

Profits vs. wages
Trumponomics in one chart

‘I don’t understand why the Democrats are not pounding on this chart every single day’ is the headline of a Daily Kos piece (authored by “Aldous J Pennyfarthing ”). This piece has more commentary and another revealing chart.

Donald Trump said the Republican tax bill would boost the average family’s disposable income by $4,000.

Donald Trump said wealthy people like him would lose big after the bill was passed.

Donald Trump says a lot of things. Hardly any of them are true.

And here’s the stark proof that, when it comes to the Republican tax scam, Trump’s critics were right, while Trump was just wanking off to an ‘80s pin-up of the Laffer curve … [See first chart.]

… it is quite the chart. It’s so eye-opening, in fact, it prompted equities analyst and Bloomberg Television contributor Barry Ritholtz to state: “I don’t understand why the Democrats are not pounding on this chart every single day from now until the midterm election.”

Productivity vs. wages
More Trumponomics in action

Coincidentally, the [first] chart looks eerily similar to a graph that shows a sharp divergence between wages and productivity since Ronald Reagan made the world safe for greedy assholes again: [Second chart]

Democrats, feel free to use any and all of these. Voters really need to see them over and over and over again until November 6 — and beyond.

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