Discover and read the best of Twitter Threads about #TCJA

Most recents (9)

In 2020, #TCJA will generate more $ benefit to foreign investors ($38.3 billion) than to the the least well-off half of Americans (1.9 + 12.4 + 0.5*24.4 billion).

Lots of analysis @Schieder_ @iteptweets, including at the state level.
@Schieder_ @iteptweets In 2020, #TCJA will generate 8.4x more benefit for the richest 20% of American families than for the middle 20% of American families
@Schieder_ @iteptweets #TCJA's estate tax cut generates benefits only for families in the richest 1%.

The 1%'s estate-tax benefit alone exceeds all benefits to average families at every income level outside the richest 5% of families.

#TCJA benefited the 1% 8.4x their estate-tax benefit.
Read 4 tweets
@realDonaldTrump @foxandfriends No. You just changed your talking point (green text). The job-growth trend (blue line), not so much.

Your administration was born on 3rd base & you want to con us into thinking you hit a triple. Americans aren't falling for it. #NoFool
@realDonaldTrump @foxandfriends Job growth has basically just continued on the inherited trend. But slowed a little.
@realDonaldTrump @foxandfriends Same story with the unemployment rate. It's low & that's wonderful.

It's low thanks to progress so steady over so many years. Check out the trend over the last 12 years. Inherited progress has slowed.
Read 18 tweets
@realDonaldTrump You changed your talking point. The job-growth trend, not so much (graph).

Your administration was born on 3rd base & you work to con people into thinking you hit a triple.
@realDonaldTrump Job growth has basically continues on the same trend you inherited. But slowed a little.
@realDonaldTrump Same story with the unemployment rates. They're low & that's wonderful. They're low thanks to progress so steady over so many years.
Read 12 tweets
@realDonaldTrump Unemployment is low & that's good. Check out trends in unemployment for African-Americans & other groups.

Progress so steady since 2010. No improvement on the trends you inherited.
@realDonaldTrump Check out the trend in the # of U.S. jobs. Same story. Progress so steady since 2010. No improvement on the trend you inherited.

You changed your talking point. The job-growth trend, not so much.
@realDonaldTrump This chicken can claim it's doing an awesome job driving because it took over the wheel when momentum's going the right direction.

When circumstances require more than squawking & preening, reality will be clear.
Read 7 tweets
@GOPChairwoman @realDonaldTrump The talking point changed. The job-growth trend, not so much.
@GOPChairwoman @realDonaldTrump Same story with the unemployment rate.

The administration was born on third base & you work to con us into thinking it hit a triple.
@GOPChairwoman @realDonaldTrump Beyond coasting on inherited trends, how has POTUS used power of his office?

Managed 1 big econ policy change: #TCJA tax law. Gave gift ($$ requiring no behavior change) to company owners. Profits skyrocketed.

Wages? An average hour of work buys 1.3% more now than a year ago.
Read 7 tweets
All 50 states & DC saw their avg. tax liability fall from 18.0% to 29.1%. D.C. saw the least decrease, and largest decline in avg. tax refund at 6.1%, while North Dakota saw the largest increase at 6.7% on average.

#TaxDay #TCJA
Tax liability in real dollars is down nearly $1,200 on avg. (as promised), but tax refunds were up avg. $43. That’s BC an average of $1,156 went into paychecks during the year, or about $50 for a biweekly paycheck starting in March of 2018.

So...… #TaxDay
So... everyone should make sure they reassess and update W-4s if need be, because w/ all 12 months impact, some could see refunds decline by $200 or more next year as less is taken from their paychecks.

But overall, #TCJA was a big net positive.… #TaxDay
Read 4 tweets
Happy #JobsDay! 8:30 ET @BLS_gov delivers most important signals abt how economy is changing

+208K jobs. If >0, extends longest streak of monthly job creation on record to 8 years+1 month (graph). Progress so steady over so many years.

Big question: wage growth?
I worked as CEA senior economist for labor in 2016-‘17. Briefed @WhiteHouse & LaborSec on #JobsReport monthly…

I was honored to serve American people:

Public servants toiled all month surveying abt 200K bizs + individs, crunched data & made #JobsReport stats for us. Thanks @BLS_gov! Read @ryan_d_nunn @dwschanz @MichaelRStrain…
Read 25 tweets
Anyone else notice @nytimes made a monumental mistake in their report about Samuel and Felicity Taxpayer? As it turns out (We blame Turbo Tax!), the happy couple will pay LESS in taxes (like appx. 85% of the country), due to the Tax Cuts and Jobs Act. NOT a $3,896 tax hike. #SMH
2. @nytimes excuse for flawed & failed analysis on impact of tax reform for Samuel and Felicity Taxpayer doesn't even make sense. You can't blame @turbotax “What-If Worksheet” for NY Times not claiming earned income credit. And they're corrected analysis is still wrong...
3. Even in @nytimes corrected "analysis," which now adds earned income credit, they STILL did not give Samuel & Felicity Taxpayer $1500.00 in credits for dependents! So, they are actually paying $1543 less in taxes due to #taxcutsforamerica, or #TCJA. Very sloppy partisan report.
Read 5 tweets
(1) Here's my latest Team Trump #PhotosThread.📸🦁🇺🇸

The previous one ran from Dec 8 to 18:

Info & links to 12 other photos threads since June 2017:… … …

Enjoy! RT to help #MAGA
(2) The President started the week with a landmark National Security Strategy speech in Washington, DC. #PeaceThroughStrength #AmericaFirst
(3) Oh noes! He held the glass with both hands again! Probably because he unconsciously worries about spilling some, like I do. We're neat freaks and germaphobes, stop judging us!😎
Read 72 tweets

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