Did You Get a Raise and/or Bonus After the Trump Tax Cut?
Not getting political. Just curious if this tax cut is working as promised.
The build up on the big tax cut was impressive. The claims were that the average family would see around four thousand dollars extra take home pay this year. Companies everywhere where going to shell out generous bonuses, hire more employees and raise wages.
Did any of this happen in your world? Certainly didn't happen in mine. In fact, I seem to have gone backwards.
The whole sales pitch on this tax cut was that businesses would use their tax savings to hire more workers, pay higher wages and bonuses. You know, the old "trickle down" scam. What happened was most big businesses used the extra cash flow to by back their own stock and most substantial bonuses went to upper level executives. I'm sure there was a sample where things played out the way it was sold.
I think President Eisenhower had the best plan. 90% business tax that could be reduced to almost nothing by hiring more people and reinvesting in their business. In this case, money did actually trickle down.
Has your household income improved significantly from the tax cut?