One year on, GOP tax bill is the gift that keeps on taking [View all]

[turbinetree]

A windfall for coal barons, a lump of coal in the stockings of American workers.

ADAM PECK
DEC 22, 2018, 11:06 AM

n 2018, Republican lawmakers gave the American people a government shutdown for Christmas, sending roughly 800,000 federal employees home for the holidays without a paycheck. And one year ago today, workers unwrapped a tax bill that gifted the country’s millionaires and billionaires even more money.

At the time, Republicans assured the country that their bill would benefit all American workers in the long-term, leading to wage increases, larger bonuses, and a thriving economy that would lift everyone’s financial fortunes. Spoiler! Not so much.

Let’s start with the stock market, Donald Trump’s favorite economic indicator. On December 22, 2017, the Dow Jones Industrial Average closed at 24,782.29. On Friday, the final full day of trading before the Christmas recess, the DJIA closed at 22,445.37.

Friday’s performance on Wall Street — a decline of more than 400 points on the Dow — capped off the worst trading week in a decade. The last time the stock market fell by more than seven percent in a single week came during the height of the Great Recession in 2008.

https://thinkprogress.org/gop-tax-bill-one-year-c4b0ab7f0fe3/


REPEAL that FUCKING TAX CUT..............................