Trump’s economy is not benefitting working families. His erratic policies have contributed to wages declining, have only made the rich richer, and are leading to rising risks of a recession.
Trump’s erratic policies have contributed to workers’ wages falling behind the rest of the economy.
CNBC: “That 50-year low in unemployment isn’t helping worker paychecks”
CNBC: “While the September nonfarm payrolls report showed that the 3.5% unemployment rate is at a fresh 50-year low, it also indicated that average hourly earnings are on the decline. The one-cent-an-hour slip to $28.09 was the first month-to-month drop since October 2017 and the 2.9% year-over-year rise in wages was the slowest increase since July 2018.”
CNBC: “Indeed, even though the economy continues to grow at about a 2% pace, risks have become elevated that a combination of global weakness, the U.S.-China tariff war and geopolitical turmoil could cause a slowdown or recession in the U.S.”
For the first time on record last year, the wealthiest 400 Americans paid a lower total tax rate than any other income group.
New York Times: “For the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group, according to newly released data.”
Trump’s erratic policies are leading to a rising risk of a recession.
CNBC: “The risk of a recession is rising, and the main threat to the economy is the Trump administration’s trade war, according to a survey released Monday by the National Association for Business Economics.”
