22 august 2019

Cutting tariffs is better than cutting payroll taxes to boost the economy


The longest running economic expansion in United States history continues. The latest jobs report confirms it. Average wage growth has exceeded 3 percent for 11 straight months, while wages have grown at more than twice that pace for the lowest 10th percentile of wage earners, or people making about $12 an hour. That is equivalent to a roughly $1,500 raise for someone earning less than $25,000 a year. Consumer confidence and consumer spending are strong. Unemployment is low, and businesses [...]