Trump’s corporate tax cuts destroy jobs in the USA


This video from the USA says about itself:

Trump Tax Plan Likely Incentivizes Corporations To Move MORE Money Overseas

6 May 2018

TYT Contributor David Sirota discusses a recent Congressional Budget Office report which concludes that the new GOP tax bill not only failed to disincentivize corporations from using various methods to evade U.S. tax rates by moving their profits overseas, it likely achieved the opposite result.

A report released last Wednesday by the Institute on Taxation and Economic Policy (ITEP) documents the plundering of US wealth to benefit the rich since 2001. Under presidents Bush, Obama and Trump—that is, under both Democratic and Republican administrations—US federal tax cuts have resulted in lost revenue of $5.1 trillion, with 65 percent of that money going to the top 20 percent of income earners. When interest on increased federal debt is calculated in, the cost in social wealth totals $5.9 trillion over the past 17 years: here.

The US jobs report for May, released Friday by the Bureau of Labor Statistics (BLS), showed an increase in non-farm payrolls of only 75,000, far below the 223,000 jobs added in April. While the official unemployment rate remained at 3.6 percent, the lowest figure in half a century, this has not translated into significantly higher wages: here.

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