When the GOP was trying to sell its tax bill to the American public, they lauded it as key to economic growth – the kick start that our economy needed to drive up wages that have been stagnant for too many years.
It hasn’t worked out the way they promised. At bottom, the tax bill always was just dressed-up trickle-down economics. The vast majority of the benefits went to the wealthy and businesses. The GOP didn’t try to explain how a tax cut for the wealthy would help the rest of us, and of course it hasn’t. They claimed that businesses that have been spending their surplus on stock buybacks and dividends rather than increasing wages, would suddenly become generous with their wealth, and spend this particular surplus on increasing wages. Other than a few token bonuses, that hasn’t happened, which is no surprise. In fact, wages have actually gone down. Businesses that squeezed their workers before the tax bill continue to squeeze their workers now. This behavior won’t change unless we pass laws, like increased minimum wage laws, that force business to pay workers their due.
Tom McClintock continues to support – and lie about – the tax bill his party passed. This is one of the many reasons we oppose Tom McClintock. California’s Fourth District, and this country, deserve better.