Democrats Win When American Workers Lose

Top Democrats hope America loses
Top Democrats Nancy Pelosi and Chuck Schumer explain how they hope tax cuts will fail to help America.

When Democrats win, when their policies win, then more often than not Americans and American workers lose. For example, research has shown that minimum wage increases emotionally touted by Democrats cost American jobs:

“… in 2013, a $1 increase in the minimum wage was associated with a 1.48 percentage point increase in the unemployment rate, a 0.18 percentage point decrease in the net job growth rate, a 4.67 percentage point increase in the teenage unemployment rate, and a 4.01 percentage point decrease in the teenage net job growth rate. Consequently, high state minimum wages increased unemployment by 747,700 workers and reduced job growth by 83,300 jobs.”  -American Action Forum

Yesterday President Trump signed the Tax Cuts and Jobs Act passed by Republicans in Congress. Americans could benefit from this as early as this coming January according to some analysts. Immediately of course top Democrats denounced it. Matt Vespa at Townhall wrote that:

“The Wall Street Journal editorial board noted that if Nancy Pelosi had navigated a piece of legislation that saw a deluge in businesses announcing that hundreds of millions will be devoted to charitable giving, investment, and bonuses to their workers, she’d be dancing in the aisles of the House floor in a Santa suit.” -Townhall

Quoting from the same Wall Street Journal article above:

“Among the criticisms of the corporate-rate cut is that businesses mostly would buy back shares, benefiting only shareholders. Certainly many will do that. But the announcements by AT&T, Boeing and Comcast suggest another likely result. In a growing economy with a tight labor market, scarce workers are increasingly valuable. When Boeing says it plans to invest $100 million in its workers, the clear message is that Boeing knows that in a strong and competitive economy, it is going to be in a bidding war for talent.”

“That is part of the argument made by White House chief economist Kevin Hassett and others. A wide body of research suggests that corporate tax reform that lets companies retain a greater share of earnings will benefit workers in higher wages.”

“How any of this is bad is a mystery. Democrats are betting that the private sector will fail to respond to the tax bill’s incentives. Democrats used to be the party of hope. Now, by their daily admission, they have become the party of hoping that tax cuts will fail and private investment won’t help workers.-Wall Street Journal

It would be bad news to Democrats if President Trump’s tax bill succeeds, and like in the Reagan years, benefits did trickle down to most everyone, at least most every American working for a living.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: