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More than Half of Americans Say They Didn't Get a Pay Raise this Year (marketwatch.com)
Although the economy saw new peaks in 2018, not all Americans report reaping the benefits. An anonymous reader shares a report: The majority of workers say they saw no salary increases this year, according to a new survey. More than 60% of Americans said they didn't get a pay raise at their current job or get a better-paying job in the last 12 months, according to a survey released Wednesday from finance site Bankrate.com. Meanwhile, executives have seen a surge in compensation, according to an August study from the Economic Policy Institute. The average chief executive officer at the 350 largest firms in the U.S. received $18.9 million in compensation in 2017, the study showed, a 17.6% increase over 2016. Despite those disparities, 91% of Americans say they have the same or greater confidence in the job market than they did one year ago, according to Bankrate.com.
I mean, look at this and you can see precisely why employees have no loyalty to their companies. Either at least give people inflation-based raises or merit ones on top or face the prospect of losing them.
Capitalism aims to get profit by paying labor less than it is worth.
Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
The oversupply of labor from foreign engineers who hold H-1B visas reduces or eliminates pay raises for American engineers. Most foreign engineers come from India.
In 2016, Donald Trump promised to immediately suspend the H-1B program upon his becoming president. He broke his promise.
Only twice in my life did I not get an annual raise, both times I found a new job and put in my notice shortly afterwards.
... for the already rich
The average chief executive officer at the 350 largest firms in the U.S. received $18.9 million in compensation in 2017, the study showed, a 17.6% increase over 2016. Despite those disparities, 91% of Americans say they have the same or greater confidence in the job market than they did one year ago, according to Bankrate.com.
Comparing the average American to the C-levels in the top 350 might be a little disingenuous. That said, something is seriously fucked up when the economy is going to crap while C-levels somehow get a 17.6% increase over 2 years.
And finally, and perhaps most pertinent, why isn't there a backlash? If this had been reported in Europe there would be hell to pay. Unions, political parties and ideological organizations would all protest and cause problems.
Hell, a week or three ago in Sweden somewhere, the politicians of Lidingo something municipality voted to increase their own salaries. There was such a ruckus that they in the end had to lower their salaries and apologize for being slithering opportunists. They were held accountable by the people.
In France, right now, well... France has a habit of taking things too far. But the French population do realize that if they band together, they have a voice and they can force change (or stasis, as in this case).
Don't you have a big statue or something to remind you of these lessons?
...for billionaires. Sorry rust-belt, all you get in you stocking is coal (literally).
Support Right To Repair Legislation.
Weird, huh..
Didn't Trump promise $4000 to $9000 average pay increase due to the tax cuts?
PJRC: Electronic Projects, 8051 Microcontroller Tools
I've been stuck in the same job for 16 years. I've tried leaving but employers either ignore what skills I have or my current employer gives me a lousy reference just to keep me there. I've never gotten a raise...just pay reductions. I don't get vacations...but I can take unpaid time off. I don't get overtime...I just don't. If I work 35 hours a week, 40 hours a week, or 60 hours a week...I get the same pay. I make below living wage but just a few dollars above poverty. My boss refuses to do proper payroll so I get to 1099 myself and lose half my income to taxes.
The concept that people get paid more...or get paid for not working...or get paid based on how long they work is entirely foreign to me. I've been stuck so long I don't care. I just grind out every single day waiting for the boss to die or me to die.
Welcome to the new working America. Paid just enough to keep struggling....underappreciated enough to not care anymore.
I haven't had a pay raise in 15 years. Lots of job changes, title changes and other things, but no pay raises. Family always lives as if we are
unemployed and thus, the lack of pay raises don't sting quite as much.
economy and such, not?
And Kushner. And Girl TRUMP! And all the FAT CATS thanks to Ryan, McConnell, and the fucking lazy-ass Republicans.
I have no problem with employers who seek to pay the least they can. Employees who feel valued or need the job will stay. Some employers seek to make sure people feel fairly compensated others don't. It's their call.
People who feel like that employers have an obligation to look out for their employees should join a union if their employer isn't meeting that standard. That's what unions are for.
in the US the average inflation rate was 2.1% last year. and probably higher next year but CPI raises are backward looking. I believe Social security got a 2.9% CPI based increase this year.
So fo the average person, any raise under 2.1 to 2.9% wasn't a raise, it was a cost of living adjustment for inflation.
However that's the average person. Many people's incomes include things like benefits and the cost of those went up for employers. There's all sorts of other ways that high income earners dont' feel inflation the same way that lower income earners do. For example, if you have a big fat mortgage without and ARM then inflation is actually cutting the amount you are paying (effectively!) so it's actually helping.
So if you are a lower paid person and you did not get a raise nore than 2% then you got a cut due to inflation.
Some drink at the fountain of knowledge. Others just gargle.
I saw no increase in my pay from the tax cut. I did get a 4% raise and a bonus this year, though.
I hate fat people.
So, I guess in terms of free time, that counts for something. One things for sure... you can't put a price on the sanity I've regained these past few weeks. Too bad it'll all be out the window soon enough :D
If they can give us tax cuts WITHOUT increasing the deficit and debt, I'm all for it. Not decease it on future growth, but decrease it now.
is from changing jobs. Sad but something I've become used to in the last twenty years of working. It started out with getting a minimal cost of living raise one year and then twice that the next. No rhyme. No reason. That job got left by the wayside when they invited me to pursue other opportunities, along with 10% of the rest of the staff that year. It wasn't a layoff. Heavens no. It was Jack Welsh adjustment. Just enough people to keep those still there afraid that they might be next.
It's been the same pattern since then. It was always up and down and up and down. Only real raises when I moved onto another job. I kept asking for more and they kept putting up. Finally got one that felt right. Good management. Good people. Hope to stay here for some time.
And he raised tariffs too so that's good
But it went to cover the increases in my employer sponsored health insurance. :(
Had the misfortune to be acquired by DXC Technology. This piece of shit company was formed by the piece of shit that was CSC and the piece of shit that was HPE, and moulding it into a bigger pile of crap. This company NEVER gives annual increases.
Day one of the job under DXC saw a good, solid kick in the teeth of over $1,000 a month down from where I was before. They "compensated" for the loss by adding a stipend to the pay for a year, with the promise to do something more permanent by the end of that year. Well, 12 months rolled by and they followed through on that promise: a good, solid kick win the teeth by eliminating the stipend and leaving the base salary exactly where it was before.
Other companies that were acquired after us saw how we are being treated, and are looking to bail, too.
So come the new year, I'm gone. Good riddance.
In other news ..... nearly 75% of American workers admitted they performed no tasks in 2018 which increased the value of their company.
This 60% thing is an interesting statistic, but it would be more relevant if we could see the proportion of Americans who didn't get pay raises for the last 5 years or so. It's effectively citing a number without a baseline for comparison.
Additionally, it could also be phrased as "40% of Americans got a pay raise this year", and in the context of our recent depression (starting at around 2008) might be a piece of good news. We'll never know.
The economy only really started to take off about October of last year, so we've only had a little more than a year of good economy. Will this trend continue? It might be nice to see a sparkline for this pay raise information month-by-month to see if represents an increasing trend.
Additional to that, the article as posted in a negative light (60%, without baseline) and immediately dives into how management all got raises. It then goes on to talk about minimum wage and how inflation hit a 6-year high in July of 2018.
The article is all about class envy, trying to gin up outrage in order to get clicks. Isn't it simply *awful* how those evil managers reward themselves while keeping most worker wages the same!!!
(Inflation in July 2018 was 0.01%, yet another number cited without baseline to provoke outrage.)
Really. It's well known that wages have been flat for much of the 2000's, and others report that US wage growth is at a nine-year high.
Take a skeptics view of click-bait articles.
So here are the actual figures:
https://media.brstatic.com/201...
In the past 12 months, have you gotten a raise at your current job, gotten a better paying job, neither or both?
27% got a pay raise.
6% got a better paying job.
5% got both.
62% got neither.
Note: among respondents who are employed full time or part time.
Sounds to me like great numbers. A very large amount of people in my experience are very passive, and will not look for a better job, nor bother asking for a pay raise. They just go with the flow, which is the "neither" part. Which means all they get are inflation correction kind of raises, plus the union/collective bargaining items, but they don't actually get raises or better paying jobs.
To me that looks that if you're active enough to either look for a better job, or ask for a pay raise and your work performance entitles you to it, you're going to get it in the current job market. So go and do it if you're in that 62%. And remember that while doing that, you must be looking for a better job while doing it. Yes, that's additional effort. And yes, that's how you get a raise instead of being a part of passive 62%.
I asked for more as well and it is under review. Working for a non-profit and not making what I could. They need to approach what I could make, not asking for exact parity, but they need to work to retain me. I believe in our mission but mortgages and food arenâ(TM)t free.
the difference in cost and sale price is profit, otherwise known in Negotiable Instruments Law asvthe element of Satisfaction incurring LIMITED LIABILITY or a guaruntee of worth. How long does a Made in China bicycle function as oppossed to a Made in America bicycle? Ford Tough or Chevy Like A Rock? Proft as a future interest can enter a premise of speculative markets by the which thebprofets of God hath only seen! By Grabthar's Hammer, I wish you a Jeremiah 10 Spirit of Christmas Ghosting past-present-future employer.
I work for my God.
And STILL no Universal Healthcare like CUBA has!!
People who get big paychecks got huge tax cuts. I pay myself about $250k/year. Just in my W2 paycheck, I've seen an increase of about $12-14K/year. Will be more on income taxes, I'm sure.
NT
How about for the past couple years? But, every year, our boss & his wife (owners of the company) seem to have enough money to jet off to Africa for a safari. Maybe a lion will get too close one of these days LOL.
Need to cut spending. We have a spending problem.
I got a pay raise at the start of 2018 solely on performance (they’re not guaranteed or typical for my organization). I’ll be lucky to still have a job at the start of 2019 due to budget cuts. Publicly traded companies have a lot of money for things they care about, but what they care about is subject to the opinion of the share holders and might not actually reflect what valuable employees do.
The liars who answered these questions on purpose did it to attack the president. They are traitors and should be put on trial and imprisoned.
1) Open salaries. You don't have to unionize but share salary information with your coworkers. There's a reason why companies like to keep this information secret. It's not to hide the salary of rock star that everyone knows does the lion's share of the work. It's to hide the fact that they're exploiting someone.
2) Renegotiate your compensation every 3 years. People tend to only ask for raises but the truth is that their entire compensation package is up for consideration. If they're not willing to pony up more cash for you then they might be willing to accelerate the timetable for your 401k vestment or give you more PTO. Look at the position and compensation package with fresh eyes.
3) No loyalty. Regularly apply for jobs with other companies. You're an asset to your company and they will have no qualms about letting you go if it doesn't make business sense to keep you around. Don't be blindly loyal to an organization that has no loyalty to you. If they can outsource you, your department, or your division for much cheaper than what they're paying you, then you're gonna be gone soon.
4) Remember that you're working for the shareholders, not management. The goal of the shareholders is to get as much money out of the company for what they invested into it. They don't care about you, your career, or your special needs kid.
5) "Business is war". You and your company are allies, nothing more. The company will bribe (*cough* campaign contributions) your politicians to get the company and shareholders a low tax rate. It won't do the same for you.
captcha: dilemma
I generally get about a 1.5-2.5% raise. But inflation is around 4.5% for food, shelter, education & transportation; which is 90% of my expenses (I don't do much leisure activity). I average about a 1.75% paycut every year. That money isn't gone, it's going somewhere. This is where the last 10 years of wealth inequality came from.
I remember a story when one of the old Kmart's closed down. A woman started at $3/hr in the mid 1970s and ended around $9 bucks an hour in 2018. Trouble was, $3/hr inflation adjusted in 1970 had $16/hr in buying power. She lost over 1/3 of her pay after 40 years or work.
Put another way, if minimum wage kept pace with productivity it'd be over $20/hr right now. Then again, 86% of the lost manufacturing jobs were lost to automation, not the Chinese & Mexico...
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Survey 1000 people over the phone, in 1 week. That's what this article is all about. Yup, all of America is based off of this data. 1000 people.
Everyone has their opinion and leanings. I know, lets show how evil CEOs are, or anyone who make more than you. See those bad people making all this money? Tell me if you could make the same money, would you? Or would you turn down the job or take a pay cut saying you don't deserve it?
Did I get a raise last year? Yes, 2%. Is this enough to cover inflation, no. Am I complaining, NO. If I need to get a new job to pay more I will. It even says in the article changing jobs is how to get a raise. Seems like bad business since you will have to retrain someone new, but there you go.
I saw no increase in my pay from the tax cut.
I did. The amount being deducted for Federal taxes went down, which of course meant that my take-home pay was higher. Now, how that will work out once I do my yearly taxes has yet to be seen. It may very well be that while my take-home per paycheck was higher, the amount I get back in April will be lower and it works out to be no pay increase or even a decrease.
Pretty much.
They increased the standard deduction but eliminated the personal exemption. Anyone who itemizes is going to get screwed.
You should never measure tax cuts against deficits and debt. That is just a political game that gets played every time and propagandized in the media. They should only be measured against TAX REVENUES. If you cut taxes and overall revenues go up, (because the economy is stimulated and growth drives it) then the tax cut is a benefit to the country as a whole. Just because the politicians decided to spend an extra $500 Billion during the same year that tax revenues only went up by $200 Billion, does not mean the tax cuts causes an extra $300 Billion deficit.
We haven't done our tax returns for the year yet.
Not being to deduct our state taxes against our federal ones, could negate the benefits.
If something is so important that you feel the need to post it on the internet... It probably isn't that important.
Double check your numbers. Spending went up only $200 Billion from FY 17 to FY 18. And most of that was military Republicans wanted. So, yes, most of the deficit is being created by lack of tax revenue.
I didn't get a raise or bonus this year either. No, instead I got signed up for a Jelly of the month club!
The worse part is that I was expecting bonus money to cover the check I wrote for the swimming pool I was going to put in once the ground thawed. Now that check will bounce, I'll have to pay the bank fee for that. The pool company won't start the work in the spring and it may be another year before I can put in a pool. I'm also guaranteed to be at the bottom of the list when I do contact the pool company again.
I just wish someone would drag my boss from his happy cozy home and serve him to me on a silver platter; all tied up with a nice ribbon!
This sucks, and where's the tylenol?
You won't do anything personally to try and fix this situation (learn a new skill, find a different job, make yourself more valuable to your current employer, etc.) but you probably want some politician to 'Fix it', by punishing your employer or making them form a union or something. Big government advocates love to have more people like that.
Keep in mind that the tax reform will add about $1,000,000,000,000 to the deficit, so this is money you are borrowing (with interest) from your future self, or more likely your kids.
There are about 125 million households in the USA, so each family owns about $8000 of that deficit. If your refund has increased by >$8000 per year then this reform was made for you.
If your refund is only $4000/year, then you are borrowing $8000 from your kids. Someone richer than you gets $4000 and you get to keep the other $4000.
If you invest that money and end up paying your kids back (with interest) then they should have no reason to resent you. But if you blow that money, then even if you are one of the families who gets >8000/year, that benefit is gained on the back of your kids future.
Unfortunately, I am working on my own startup that doesn't have the revenues yet where I can pay myself anything. I can't wait until I can say that where the number I am multiplying it by is not zero.
Wages have been stagnant for a loooong time, so this is old news. Until the early 1970's, wages and productivity grew in lock-step with each other, but then they started to diverge. Productivity kept rising ever upward but wage growth slowed and has been largely flat. For the last ten years, I've been an advocate of having multiple streams of income as way to (A) Not be 100% financially dependent on one's job and (B) Overcome wage stagnation. My job's annual wage increase was usually 3%, which meant I was keeping up with inflation, but not really getting ahead. But since I got into dividend investing 10 years ago, my dividend income has risen at about 10% annually. It doesn't take a genius to see that being an investor is better in the long-term than being an employee.
The other half must have been executives...
Not only did I not get a raise, but I was laid off from the company I was working for 34 days after my 40th birthday, while the CEO got a 225% raise.
Keeping in touch with my former coworkers, they have basically "laid off" everyone over 40 this year, in alignment with their focus on a younger workforce.
And ... what?
This compares to recent previous years (using the same methodology) how? Better? Worse?
Nope.
Anyone who lives in a high tax state is going to get screwed and so be it.
Someone in a low tax state making $X should not pay more income taxes than someone in a high tax state making the same.
When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
Dumbass, a tax cut is NOT a pay rise. If you made 30K per annum before the tax cuts, you still made 30K afterwards, ZERO increase.
But if you want to play that game, the vast majority of the tax cut benefits went to the wealthy, you know, the ones who ALSO got a 17% wage increase.
Cost of living goes up, and the working class gets the shaft again.
If the Big Boys would stop lining their pockets long enough to see that it's the working class people that spend their money and keep the economy moving, they might just be more receptive to letting us make more money to actually Spend on their (overpriced) products in the first place.
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Trickle-down economics my Butt!
You do realize that there are deductions besides state and local taxes, right?
You choose to live in a high tax state.
Your problem, not anyone's in a low tax state who doesn't want to subsidize your ass.
Capitalism aims to get profit by paying labor less than it is worth.
Yes but luckily Capitalism is also the labor being free to move about until they feel they are getting what they are worth.
That's the amazing beauty of the system, the balance - if companies pay too low, workers will not hire on or will quit.
On the other hand, if workers demand too much they will not find, or keep work until they have more realistic demands.
And all without anyone actually figuring out what the "right" pay is, a dynamically self-regulating system - the best kind of system possible, the kind that makes the universe go.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
You should never measure tax cuts against deficits and debt..... They should only be measured against TAX REVENUES. If you cut taxes and overall revenues go up, (because the economy is stimulated and growth drives it) then the tax cut is a benefit to the country as a whole......
Your statement is mathematically provable. Just calculate the required economic growth required to increase tax revenues at the lower tax rate. If the required economic growth is greater than the projected growth due to the stimulus effects, then the tax cut is revenue positive. The problem with all these tax cuts, going all the way back to Reagan is the required economic growth to maintain revenue neutrality has always been much greater than the stimulative effect and the net result is increased government debt. But you won't ever see Paul Ryan or any other GOP congressman openly show how much economic growth would be required to maintain revenue neutrality. That is because they know the tax cuts will explode the deficit without significant government spending reductions.
Imagine the number for the previous time they polled people were like that :
"77% got a pay raise.
6% got a better paying job.
5% got both.
12% got neither."
Then it does not make this year looks very good isn't it ? The point is that you need a baseline, preferably over a decade or two, to be able to compare.
C. Sagan : A demon haunted world:
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But it's because I went from a director position in the private sector to an hourly position in a state agency. Less resposibility, 50% pay increase, better benefits and better retirement. I left because the company wasn't willing to pay more and keep up with pay rates in the area.
"A plan fiendishly clever in its intricacies"- Homer Simpson
The driver of the supposed inequity is state and local taxes.
It's soooo funny how the Left has screamed about people paying their fair share and now that THEY had to do it, they get all upset.
When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
Double check what numbers? The numbers I pulled out of my hat to give as an example? Nobody claimed they were actual, valid numbers. The only real number to consider is 'Did overall tax revenues (you know, the amount the government takes in) increase or decrease after the tax rate cuts?' I believe the answer is INCREASE.
Cops here kill people who get emotional or aggressive.
And "socialism" is a dirty word, as it should be.
It's so funny that idiots don't understand that high tax (blue states) have high taxes at the state level because low tax (red states) leach so much money off of those blue states at the federal level, so they have to make up for paying for the red states whoring. And when i say "funny," i really mean "how fucking stupid can they be."
Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
thanks to mergers and acquisitions there's relatively few companies to work for. Small businesses & startups don't have the resources to pay for healthcare so unless you don't need that you're stuck looking for a bigger one with a big enough risk pool to get good rates. Mix in H1-Bs and outsourcing and your loyalty becomes even less valuable.
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I can't speak to that.
For my part, Schedule E is a wonderful thing that saves me a lot of money every year.
Blue states subsidize almost all red states every year. Red states are the ultimate entitlement whores. Lets pass a law that says no state can get back more than $1.05 benefit per $1 input, nor less than $.95. We'd see virtually every red state collapse because they're leeches.
Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
it was a recession, and it was over in less than 2 years. The economy recovered, the working class didn't. All that wealth went somewhere. It went to the top.
Wage growth has been flat since the 70s after adjusting for inflation. The rich get richer and everybody else gets poorer. This isn't click bait. It's a repeat pattern in our society that's gotten too big to ignore.
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why does it have to be that way? Your father says those things because he was brought up to think that way. He was brought up to think that way because somebody wanted him to.
I'd like to see your father step out of the thought box he was put in by his ruling class. Think of it this way instead:
1. Everybody gets paid what their worth, by law if necessary.
2. Everyone should get what they deserve, and we deserve a good life. Not because of who we are or who are dad is but because we're human beings.
Anything else but the above will turn into a race to the bottom sooner or later. Somebody else will crush your small business or you'll crush them. The winner won't be the best product, it'll be the most violent and amoral.
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but I got a 15% raise the prior year so i'm not totally complaining, and I make a hair north of 200k
Even if what you say is true (and I don't agree that it is), the extra $500 billion the politicians decide to spend in your example likely came from the psychology of tax cuts.
In a complex system, you must pay attention to all reactions, not just the ones you choose. You chose to credit the economic burst to the tax cuts but not the spending increases. That makes no sense. Without all of the fuzzy math floating around letting them make the argument that the economic increase will be much greater, the increases wouldn't have happened.
Furthermore, the economics won't last. There are limitations to the economy other than what people spend on taxes. Some of those limitations involve finite things like how many workers we have. If you over-rev the economy up and smash it into those walls, the backlash can put you back further than where you started. But, a lot of wheeler and dealers will walk away richer, so I guess it serves a purpose for someone.
The problem with all these tax cuts, going all the way back to Reagan is the required economic growth to maintain revenue neutrality has always been much greater than the stimulative effect and the net result is increased government debt.
This, so much. The tax cuts aren't sustainable, healthy, or needed - but serve to advance the interests of the wealthy. The one good thing America still has going for it is the dollar. We seem to be doing everything possible to ruin that too.
Wow, 91% of those people have the same or greater confidence in the job market. That's incredible because the leftist media is pounding us all with news that a recession will DEFINITELY start next year and everything is going to go to hell. It's all about feelings and if the liberal media repeats the bad news often enough and hard enough, people in general will have less confidence in the job market and start spending less causing a down-turn in the economy and causing a recession. All according to plan, of course.
The problem is that with the recent tax cut, the revenues didn't increase nearly enough to offset it. It's nowhere near the levels the Republicans claimed it would rise to when they passed the tax cuts, it's not even to the level that the CBO estimated it would be so this tax cut is likely going to add to the debt even more than the 1.5 TRILLION dollars the Republicans claimed it would. The GDP has grown at similar levels as during the Obama administration and tax revenues have actually gone down on an inflation-adjusted basis. Studies that have looked at the economic impact of the corporate tax cut mostly went to share buybacks, companies didn't use the money to expand or invest, they gave it to their owners. It doesn't seem to have spurred any growth in the economy at all. The result of this tax bill seems to be that the rich got richer and the middle class (and the future middle class) will be paying the price.
Enigma
Resources are limited in the universe. But our potential to increase value here on earth is great. It's not a zero-sum game. In a free market transaction, both sides win: the value the seller receives (in cash) exceeds her value he places on the good/service she offers, and the value the buyer receives in the form of the the good/service exceeds the value of his cash outlay. If that wasn't true, then the transaction wouldn't occur. When the transaction does occur, value is created. The pie gets bigger.
Look around: billions of people have moved out of poverty in a generation. And it didn't require the people in middle and high income countries to earn less. Globally, obesity is now a bigger problem than hunger, and it didn't require sacrifice from the developed world. Lifespan has increased globally, without the need of drinking the blood of virgins.
I'm confused, State governments pay taxes to the Federal government?
Yeah, I think your data is way out of date. I believe there was a time when your statement was correct, but not any more..
In January 2017, the California Legislative Analyst’s Office said by several measures California is, indeed, a donor state, but just barely. It receives $0.99 in federal expenditures per dollar of taxes paid, which is below the national average return for states of $1.22 per dollar paid, according to its review of a 2015 New York Comptroller study.
if we are going to do that why not just get rid of the federal taxes and let the states handle it like we did prior to the income tax???
why push money around that way?? it makes no sense
have you seen my sig? there are many others like it but none that are the same
They compare the "percent of employees who got a raise" to the "average percent of increase in salary" for executives, and then only the top 350 companies. That's comparing apples to bowling balls.
They start off taking a negative: How many people did not get a raise in their pay rate. Why not state it positive, as nearly 40% of people did get an increase in payrate?
Second, the average percentage of people who see a raise each year is about 14%. To have that near 40% is an astounding increase.
Third, they only looked at salary and rate of pay. A better measurement is total paycheck, because when unemployment is low (like now) they tend to use overtime and extra hours for existing employees before wide-scale pay raises.
Fourth, the number of 2-earner households means there is a higher number of households that saw a salary/payrate increase.
Fifth: Tax cuts mean a lot of workers are seeing increased paychecks even if pay rate and hours did not increase.
Bottom line: 40% is a VERY good number, and when you factor in bonuses, more overtime, more base hours, 2-income households, and lower taxes, the number of people with more money in their pockets to spend/save is significantly higher than 40%, and is a huge boon to those workers and the economy.
The driver of the supposed inequity is state and local taxes.
It's soooo funny how the Left has screamed about people paying their fair share and now that THEY had to do it, they get all upset.
Dude, I just want my mortgage interest deduction. Doubling the standard deduction is destroying my tax return. I will owe more money this year than I have ever owed before, and I live in South Carolina.
You should never measure tax cuts against deficits and debt. That is just a political game that gets played every time and propagandized in the media. They should only be measured against TAX REVENUES. If you cut taxes and overall revenues go up, (because the economy is stimulated and growth drives it) then the tax cut is a benefit to the country as a whole. Just because the politicians decided to spend an extra $500 Billion during the same year that tax revenues only went up by $200 Billion, does not mean the tax cuts causes an extra $300 Billion deficit.
What you are claiming happens has never actually happened a single time anywhere in the entire world. Good talking point, but completely false. Possible, but not everything that is possible does happen.
Sorry that your days of tricking people into giving you their money are starting to end.
Half get a raise, half don't? Centered around the mid-point of a Bell-curve?
We should not rest until most of the population are in the top 1%!!
THERE WILL BE CONSEQUENCES FOR YOUR LIES BITCH NAZI FAGGOT KEN DOLL
Filter error: Don't use so many caps. It's like YELLING. Filter error: Don't use so many caps. It's like YELLING.
The trick is tax cuts make a great soundbite.
What is smarter is a balanced budget law. A simplified law. Like this year's budget is equal to last year's revune. Exceptions can be made only in times of war as declared by congress.
That would force the budget to shrink to match income. And if your tax cuts lower revune, then your spending will go down too.
It won't keep it quite lock step, there will still be up and down years. But it will prevent situations like deficet speniding that we have had for the last 30 years
i thought once I was found, but it was only a dream.
Your liberal streets are littered with homeless and yet you cant get them funded, in a job and off the streets with your high state taxes??????
Yeah, let's start with the absolutely astronomical military budget.
"In America, first you get the sugar, then you get the power, then you get the women..." -H. Simpson
So true. If you look at it from a home budget level, this kind of spending would never fly in my home.
We have had record tax revenue so i am not sure what he is asking you.
https://www.usgovernmentrevenue.com/federal_revenue_chart
Definitely a spending problem. Revenue increasing as far as i can see.
If prices go up exponentially, like their religion demands, and salaries stay the same or fall, ... ... then who will be able to even buy their products?? Let alone afford them
Are they seriously not thinking that far ahead?
Or is that why there is so much stock trading of vaporvaluation companies with imaginary insane "worth"? So they can look like they make more profit, while not requiring anything of worth to be bought or made
Nope. Income taxes are individual taxes and unrelated to states.
States don't pay income taxes. YOU do. No matter where you live.
YOUR State is imposing extra costs on you, not any Red state.
communism /kämynizm/
noun
a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs and tens of millions are murdered for the common good.
When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
You have a hugely expensive home. Pay your fair share!
When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
Because intelligent people understand that there are issues best dealt with on the federal level, and those things should be paid for.... unlike the fucking idiots who actively try to destroy the federal government while burying future generations in massive debt. Democrats are tax and spend to better future generations.... republicans are leech off the future and spend to better themselves right now.
Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
Welcome to the end of 2018.
https://wallethub.com/edu/stat...
https://www.money-rates.com/fe...
Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
and you missed his entire point. Not surprising given your simplistic view on how to account for a major change to a fundamental part of society
I don't know, sounds to me like 300% of the companies gave out pay raises, just didn't allocate them equally is all ;) not to worry, they'll try to do a better job of it next year... now get back to work.
But you won't ever see Paul Ryan or any other GOP congressman openly show how much economic growth would be required to maintain revenue neutrality. That is because they know the tax cuts will explode the deficit without significant government spending reductions.
That's because, despite all their alarmist rhetoric about deficits and the Debt (almost always during a Democratic administrations and almost never during Republican ones), they actually don't care about those things. Why Don't Republicans Fret About the Debt Anymore?
[ Or simply Google: republicans don't care about (deficit|debt) ]
It must have been something you assimilated. . . .
Those high tax states are putting less of a burden on the federal government by handling more of the welfare, infrastructure etc locally. Why shouldn't the residents be allowed to offset some of their state tax against their federal tax?
Add "in real terms", and your point would look more convincing.
Welcome to the end of 2018.
https://wallethub.com/edu/stat...
Mar 20, 2018 | John S Kiernan, Senior Writer & Editor
https://www.money-rates.com/fe...
Richard Barrington | MoneyRates.com Senior Financial Analyst, CFA
Posted: April 3, 2018
I don't think either of those two dates qualifies as "The End of 2018"
make an exception for earthquake, hurricane and other natural catastrophe and that sounds fair
Since we just came out of an economic depression, you probably have a lot of people who got new/better jobs less than a full year ago, so they wouldn't be receiving a pay raise by the time this survey was taken.
But that said? I feel like much of this "recovery" was just a return to normal, coupled with a reactionary stock market that inflated the worth of businesses beyond what was rational, based on little more than political hyperbole or irrational fears by investors.
IMO, we're about to feel the negative results of that stock market generated valuation bubble as it undergoes a correction. That could, in turn, sink us into yet ANOTHER depression in 2019.
The big "elephant in the room" is the massively increasing debt our government is carrying. They're predicting by 2023, over 40% of all student loans issued will be in default. At some point, that's going to become such a contentious issue, I can see it causing a tipping point where Americans all demand loan forgiveness and free college educations for all citizens. There's no conceivable way the nation can sustain all of that debt while keeping taxation somewhat under control.
Our politicians and Federal Reserve banking folks seem like they're experts at kicking the can down the curb a little further, each time it looks like things are going to come to a head and implode, financially. But at SOME point, when the rest of the world realizes we owe more than we can even produce in exportable goods or services? We're going to hit a point of no return.
People constantly complain about the wage disparity and how MUCH money the rich business owners keep making. But the problem is, they're also the ones really holding things together. (If your nation is trying to justify going even deeper into debt to keep operating and providing all the things the public demands of it? You need to stay in close communication with all of these big corporation heads, who are promising to make the things that can be sold to justify it.) . The government can't convince other nations to keep using the US dollar as a valid currency, otherwise.
So they work 12.5% less and have better social services. Sounds like a great plan
Some drink at the fountain of knowledge. Others just gargle.
I haven't had a raise in 20 years and know several others who haven't either. Certain IT sectors will do anything to avoid giving one.
It's a small world and it smells funny; I'd buy another if it wasn't for the money; Take back what I paid (SoM)
Because the States did a bloody awful job of it all and would do a worse job today.
It's a small world and it smells funny; I'd buy another if it wasn't for the money; Take back what I paid (SoM)
You can't make money if you don't spend money. If a grocery store only stocked according to what it had sold the previous week, one bad product line would put it out of business.
Besidrs, balanced budgets cause inflation, unbalancing the budget.
The correct strategy is to decide what you actually need to get done, then determine what you need to invest in to cover that cost, calculate what you still have then raise the extra money needed to do both.
Good investments mean you don't need to raise as much. If you want low taxes, invest wisely.
It's a small world and it smells funny; I'd buy another if it wasn't for the money; Take back what I paid (SoM)
I got a lousy 1.5% raise, but it was a raise. Got the same raise last year and the year before. I've put it all towards retirement. Shrugs, I'm glad I got it but it doesn't make me thrilled either.
I work for O'Reilly Auto Parts in the Northeast United States. They are a large company with 5,000 plus locations nationwide. You'd think they would pass along some of the millions in taxes they saved thanks to Trump (as hundreds of other companies did), but we never saw a dime. I'm sure the big-shots in suits received a hefty payout but not us, the people who work in the stores. I wouldn't call my raise this year a raise either. I call it an insult. In this economy, O'Reilly calls $0.20 for a nearly perfect review a raise. $0.25 for perfect across the board. Yet they're projecting $20 billion in sales per year by 2020.
A few trillion more in tax breaks for corporations which go directly into stock buybacks to pump up prices and make the CEO's stock options more valuable like the last trillion did will surely trickle down next time!
$20 billion in sales equals how much profit after expense?
Iâ(TM)ll be interested to see which way my taxes go. The loss of SALT will definitely hurt (ironically, I can no longer deduct the out of state property tax I pay in Maine, thanks Susan Collins!). But the lower brackets may compensate for that.
24 hours and not a single reply or down-vote? Did Putin give all the trolls an early Christmas break?
Support Right To Repair Legislation.
Hard to do when other countries (looking at you NATO) don't hold up to their own defense commitments. Unless you believe we shouldn't help defend our allies, then it just doesn't matter.
Yes, there's plenty that could be trimmed, and managed better. And I'm saying that as a 37 yr defense contractor.
Just another day in Paradise
And those 401Ks and other retirement accounts are loaded with fees that come out of our pockets. And the only reason for most of those fees is just because they can and fatten the bottom line.
Most people don't get that 2 -3% every year (not including any commissions and fess with that) adds up to be a significant amount of money over the years.
And we were all bamboozled into thinking that the stock market is a sure thing over the long term, but those who retired in 2000 and 2008 - 2012 would disagree with that.
The 401K/IRA system is rigged against us.