U.S. Markets closed

The gaping hole in Trump’s economic boom

Rick Newman
Senior Columnist
  • S
    Soothsayer
    Wage numbers don't distinguish income growth between millions of people returning to the workforce at introductory wages, and more established income earners.
  • F
    Freddie
    Another odd article. If accurate then they are placing 1 year in office to fix what is claimed to be a 18 year problem. Minimum wage up 2 or 3 times in 18 years with the largest issue IMO is millions of good paying jobs moved over seas or over the boarder.....
  • j
    j
    Any Democrats want to explain how they would fix wage growth or continue economic growth.?
  • S
    Soothsayer
    Wage growth comes after the labor market tightens, not at the start of a boom.
  • M
    MWGRAD
    Pulled from the article...."Globalization has also allowed big companies to move work wherever it can be done cheapest. That enhances corporate profits, while harming those whose livelihoods are affected."

    It takes a while to large economic strategies to work, but part of his focus has been on trade inequities that are causing jobs to move offshore. His goal is to bring those jobs back to the U.S. and require foreign nations to raise their pay rates in certain industries allowing U.S. based workers to be more competitive.

    He is also going after the illegal workforce from both the employee and employer side. Since they cannot work legally, they are often paid under the table without the need of the company to pay various taxes such as matching SS Tax, Unemployment Insurance, etc.... This forces companies that do hire legal workers to slash their pay to try and compete against an illegal workforce.

    And the idea behind many of the Tax Cuts is to keep companies from moving headquarters and other operations offshore. The Company I work for USED to be based in the U.S., but has done many Reverse Mergers with larger companies so those companies can realize the benefit of being based overseas in more tax friendly country. All the Former Headquarters for these businesses were in the U.S.....yet again more U.S. job loss....

    Fixing what is wrong does not take months....it takes years.....and much is very broken....

    None of the above means I like Trump as a person, but I do believe there some fundamental economic issues he is trying to tackle....
  • D
    Dan
    I hope to see these figures change and more workers getting raises. Having said that I am happy that US companies are doing well. As long as the companies are making money there are far less layoffs and disrupted workers.
  • J
    Jeff
    A new report shows that the median household income has climbed 3% since President Trump took office. It's another sign of a strong economy, and at least one poll shows the public credits Trump for the good news.
    A new report shows that the median household income has climbed 3% since President Trump took office. It's another sign of a strong economy, and at least one poll shows the public credits Trump for the good news.
    www.investors.com
  • H
    Hugh
    Rick Newman knows nothing about economics. The first step in creating wage growth is to lower the jobless rate and create more demand for workers - check. Next, the demand for workers will drive up wages as businesses compete for workers.
  • j
    j
    While on the subject, what is Democrats plan for economic growth?
  • J
    John
    The good news is more people are working. Millions fewer on food stamp and unemployment benefits. That means more people paying taxes. Wages will be going up soon because there are more open jobs than people to fill them. My son just got a raise because his company needs to be competitive and they don't want to lose good employees. Many workers received bonuses and other perks. I know Rick Newman is trying to throw a wet blanket on the economic surge we're experiencing. I'm not buying it.