Mnuchin Rebrands “Trickle Down” as “Recycled Back”
Republicans have been trumpeting anecdotes of company bonuses as proof positive that corporate tax cuts are working for all Americans, not just the rich. Government economic data, however, show otherwise at this juncture. The Bureau of Labor Statistics said Wednesday that real average wages were down 0.2 percent on a monthly basis in January. The drop was more pronounced down the line for “production and nonsupervisory employees,” who saw weekly earnings fall by 0.5 percent. For all workers, inflation wiped out nominal wage increases, the…