The current occupant of the White House read this off the TelePrompTer during his visit to Nancy Pelosi’s house:
Wages are rising at the fastest pace in decades, and growing for blue collar workers, who I promised to fight for, faster than anyone else. We passed a massive tax cut for working families and doubled the child tax credit. The United States economy is growing almost twice as fast today as when I took office, and we are considered far and away the hottest economy anywhere in the world.
(Interesting that Republicans no longer vilify the President for using a TelePrompTer.)
Wages supposedly rising and taxes lower, yet there are seven-million Americans who are three months or more behind on their car payments. This seems counter-intuitive as so many have been enjoying larger take-home pay during the past year.
Could be those behind on car payments intended to get caught up when they received their tax refunds. Oops. Many early tax-return filers are distressed to discover their refunds are smaller than they expected, averaging 8.4% less. (The scolds out there tell us a tax refund means we have given the government an interest-free loan during the year.)
When the much-vaunted tax changes went into effect, the IRS issued revised withholding schedules for employers to use. Cynics say the new tables were skewed too low to make the alleged tax reduction appear larger than it actually was.
So much winning.
