U.S. Republican presidential candidate Donald Trump hands a five-dollar bill back to a supporter after signing it for her following a rally with sportsmen in Walterboro, South Carolina February 17, 2016. REUTERS/Jonathan Ernst/File Photo
The March job numbers, which show a lower than expected growth of 103,000 jobs are part of a growing trend of the job growth that Republicans promised not coming with the tax cuts.
CNBC reported, “Nonfarm payrolls rose 103,000 in March while the unemployment rate was 4.1 percent, falling well short of Wall Street expectations during a month where weather caused havoc on the jobs market, according to a Bureau of Labor Statistics report Friday…Economists had been expecting a payrolls gain of 193,000 and the unemployment rate to decline one-tenth of a point to 4 percent. The monthly reading was a huge slip from the 326,000 reported in February.”
When the tax cuts were passed, the White House through Press Secretary Sarah Huckabee Sanders promised jobs and economic prosperity, “The policies in this bill will cut taxes for hardworking families and put our economy on a path of sustainable economic prosperity and job creation.”
Almost immediately, the exact opposite happened as employers began to buy back stock, pay off debt, and layoff workers. In February, economists reported seeing very little boost in jobs growth due to the tax cuts.
The tax cuts are putting downward pressure on wage growth, so wages aren’t growing as quickly as they should be and the job growth that Trump promised is not coming.
The idea that tax cuts would create job growth was based on a conservative theory that giving tax cuts to large corporations would result in those corporations investing more into growth and the result would be more jobs. Instead, the big corporations have taken the money used it to boost their own bottom lines, while eliminating jobs.
Republican Congressional incumbents are planning to only run on tax cuts, but those tax cuts are failing to deliver on the GOP’s promises. The tax cuts were based on a lie, and each month the American people are the learning the truth about the Trump tax cut failure.
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