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Americans Expect Biggest Pay Jump in Years

j-mac

j-mac

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Americans are more optimistic about wage growth than they have been in years. U.S. consumers anticipate earnings will rise 2.73 percent in the coming year, the most since data collection began in 2013, according to the results of a New York Fed survey released Monday and conducted last month. January was only the third month in the survey’s 56-month history in which expected wage growth topped expected consumer price inflation, which fell slightly, to 2.71 percent.

https://www.bloomberg.com/businessweek
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Surplus to Treasury, Wages going up....And Pelosi before the tax cut called it "Armageddon"... Now I am no financial wiz, but this news all looks good....Refreshing.
 
I get paid bi-monthy; federal taxes went down $135 for my 2/15 check.
 
j-mac said:
Surplus to Treasury, Wages going up....And Pelosi before the tax cut called it "Armageddon"... Now I am no financial wiz, but this news all looks good....Refreshing.
Click to expand...

LIke most righties, seems like you didn't read the fine detail of your own link

Americans are more optimistic about wage growth than they have been in years. U.S. consumers anticipate earnings will rise 2.73 percent in the coming year, the most since data collection began in 2013, according to the results of a New York Fed survey released Monday and conducted last month. January was only the third month in the survey’s 56-month history in which expected wage growth topped expected consumer price inflation, which fell slightly, to 2.71 percent.
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Sorry, for one, being optimistic doesn't mean its fact. Secondly, the tax law hasn't even taken hold, maybe a few people are starting to see a little more in their paycheck. And history shows time and time again that tax breaks to the rich don't do **** to increase wages. Wages would not be stagnant as we have had 40 years of smaller and smaller taxes on the top, yet wages have stagnated

The fact unemployment is so low means companies will have to compete for workers and pay better. Combine that with pushes from democrats to increase pay, min wage increases, etc, this points to why wages might increase.

You have multiple companies admitting as much, but hey, you just fine a few that give out a one time pittance of a bonus (while subsequently shutting stores and laying off workers) and you pretend that's the norm. Meanwhile several companies admit they are using their tax break not to build or expand, or go to workers, but to pay dividends to share holders or buy more of their stocks.
 
I took on semester of economics in college and math was never a strong suit. I have heard 'sugar high' used to describe the current tax reform. Basic addition and subtraction don't wash with giving money back/away and then complaining that there is not enough funding, so let's just keep kicking the debt/deficit down the road. I think the fact that the tax break for regular people was touted as 'temporary' and the corporate cuts were labeled 'permanent' should be an alarm.
 
Sampson Simpson said:
LIke most righties, seems like you didn't read the fine detail of your own link



Sorry, for one, being optimistic doesn't mean its fact. Secondly, the tax law hasn't even taken hold, maybe a few people are starting to see a little more in their paycheck. And history shows time and time again that tax breaks to the rich don't do **** to increase wages. Wages would not be stagnant as we have had 40 years of smaller and smaller taxes on the top, yet wages have stagnated

The fact unemployment is so low means companies will have to compete for workers and pay better. Combine that with pushes from democrats to increase pay, min wage increases, etc, this points to why wages might increase.

You have multiple companies admitting as much, but hey, you just fine a few that give out a one time pittance of a bonus (while subsequently shutting stores and laying off workers) and you pretend that's the norm. Meanwhile several companies admit they are using their tax break not to build or expand, or go to workers, but to pay dividends to share holders or buy more of their stocks.
Click to expand...

Is that how it works? Then I "anticipate" and am "optimistic" about winning the lottery this year.

Yay me!
 
j-mac said:
Surplus to Treasury, Wages going up....And Pelosi before the tax cut called it "Armageddon"... Now I am no financial wiz, but this news all looks good....Refreshing.
Click to expand...

We'll see on Wednesday when CPI comes out. Hopefully inflation hasn't picked up too much. In any case this has nothing to do with the tax cut so I don't know why you're bringing that up.
 
Samhain said:
I get paid bi-monthy; federal taxes went down $135 for my 2/15 check.
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Your witholding changed. Beware that it's on you to make sure it's correct. If it's not, you are the one who owes the money.
 
Sampson Simpson said:
LIke most righties, seems like you didn't read the fine detail of your own link



Sorry, for one, being optimistic doesn't mean its fact. Secondly, the tax law hasn't even taken hold, maybe a few people are starting to see a little more in their paycheck. And history shows time and time again that tax breaks to the rich don't do **** to increase wages. Wages would not be stagnant as we have had 40 years of smaller and smaller taxes on the top, yet wages have stagnated

The fact unemployment is so low means companies will have to compete for workers and pay better. Combine that with pushes from democrats to increase pay, min wage increases, etc, this points to why wages might increase.

You have multiple companies admitting as much, but hey, you just fine a few that give out a one time pittance of a bonus (while subsequently shutting stores and laying off workers) and you pretend that's the norm. Meanwhile several companies admit they are using their tax break not to build or expand, or go to workers, but to pay dividends to share holders or buy more of their stocks.
Click to expand...

As I predicted....This is good news, and you as a liberal can not accept that the signs are good.
 
Khayembii Communique said:
We'll see on Wednesday when CPI comes out. Hopefully inflation hasn't picked up too much. In any case this has nothing to do with the tax cut so I don't know why you're bringing that up.
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No, of course not....I remember in the 80's this type of response was the normal too...Reagan's tax cuts resulted in month after month, quarter after quarter or good economic news, and liberals at the time diminished it, ignored it, even said that what was being reported was a lie.....History repeats.
 
<alt>doxygen said:
Your witholding changed. Beware that it's on you to make sure it's correct. If it's not, you are the one who owes the money.
Click to expand...

I already changed my w4 to take 50 of it and put it back to the IRS. I normally owe every year(between 1-2k) by design, so I've already adjusted just in case its way off.
 
j-mac said:
No, of course not....I remember in the 80's this type of response was the normal too...Reagan's tax cuts resulted in month after month, quarter after quarter or good economic news, and liberals at the time diminished it, ignored it, even said that what was being reported was a lie.....History repeats.
Click to expand...

The tax cuts haven't even taken effect
 
Sampson Simpson said:
LIke most righties, seems like you didn't read the fine detail of your own link



Sorry, for one, being optimistic doesn't mean its fact. Secondly, the tax law hasn't even taken hold, maybe a few people are starting to see a little more in their paycheck. And history shows time and time again that tax breaks to the rich don't do **** to increase wages. Wages would not be stagnant as we have had 40 years of smaller and smaller taxes on the top, yet wages have stagnated

The fact unemployment is so low means companies will have to compete for workers and pay better. Combine that with pushes from democrats to increase pay, min wage increases, etc, this points to why wages might increase.

You have multiple companies admitting as much, but hey, you just fine a few that give out a one time pittance of a bonus (while subsequently shutting stores and laying off workers) and you pretend that's the norm. Meanwhile several companies admit they are using their tax break not to build or expand, or go to workers, but to pay dividends to share holders or buy more of their stocks.
Click to expand...

Bloomberg reports that a record number of small businesses say that now is a good time to expand, and one of the main reasons for that is the tax cuts.
The new tax law “produced the most recent boost to small-business optimism,” NFIB’s William Dunkelberg and Holly Wade said in a report. “And federal government-related cost pressures continue to abate, offering a more supportive business climate for small firms. Consumer spending remains supportive, and business spending and housing remain strong.”
Click to expand...

This is good news as more and more companies are moving toward automation, which will replace some of the role played by human workers.
Optimism among small companies in the U.S. rose more than forecast in January, fueled by a record number of owners who said now was a good time to expand, according to a National Federation of Independent Business survey released Tuesday.
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https://www.bloomberg.com/news/arti...s-optimism-jumps-more-see-good-time-to-expand

 
j-mac said:
Surplus to Treasury, Wages going up....And Pelosi before the tax cut called it "Armageddon"... Now I am no financial wiz, but this news all looks good....Refreshing.
Click to expand...

Well, the thing is that is artificial stimulation being pushed by debt. That is the very thing republicans complain about when Democrats are in office. ... it causes a 'boom/bust' cycle. .. or at least that is what has happened in the past 3 times the Republicans did ti.
 
Samhain said:
I already changed my w4 to take 50 of it and put it back to the IRS. I normally owe every year(between 1-2k) by design, so I've already adjusted just in case its way off.
Click to expand...

That works. I cut ours close because I hate loaning the government money.
 
Sampson Simpson said:
LIke most righties, seems like you didn't read the fine detail of your own link



Sorry, for one, being optimistic doesn't mean its fact. Secondly, the tax law hasn't even taken hold, maybe a few people are starting to see a little more in their paycheck. And history shows time and time again that tax breaks to the rich don't do **** to increase wages. Wages would not be stagnant as we have had 40 years of smaller and smaller taxes on the top, yet wages have stagnated

The fact unemployment is so low means companies will have to compete for workers and pay better. Combine that with pushes from democrats to increase pay, min wage increases, etc, this points to why wages might increase.

You have multiple companies admitting as much, but hey, you just fine a few that give out a one time pittance of a bonus (while subsequently shutting stores and laying off workers) and you pretend that's the norm. Meanwhile several companies admit they are using their tax break not to build or expand, or go to workers, but to pay dividends to share holders or buy more of their stocks.
Click to expand...

Here's what americans can expect more of:

Since 1973, pay and productivity have diverged.

From 1973 to 2016, net productivity rose 73.7 percent, while the hourly pay of typical workers essentially stagnated—increasing only 12.5 percent over 43 years (after adjusting for inflation). This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years.

The Productivity?Pay Gap | Economic Policy Institute
 
Fenton Lum said:
Here's what americans can expect more of:

Since 1973, pay and productivity have diverged.

From 1973 to 2016, net productivity rose 73.7 percent, while the hourly pay of typical workers essentially stagnated—increasing only 12.5 percent over 43 years (after adjusting for inflation). This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years.

The Productivity?Pay Gap | Economic Policy Institute
Click to expand...

They are working more productively mainly because of technology and that in turn is reflected in reduction in prices..... How much was a personal computer in the 80s? probably 20x the amount it is now... to even have the equivalent computing power of a cell phone it's almost priceless in comparison.

We have all become richer indirectly due to better productivity.

This is why I think it's bogus to complain about automation, automation will drastically reduces prices, causing all our dollars to be essentially worth more for better technology.
 
j-mac said:
Surplus to Treasury, Wages going up....And Pelosi before the tax cut called it "Armageddon"... Now I am no financial wiz, but this news all looks good....Refreshing.
Click to expand...


What "surplus"? All economists agree that the bill will add 1.5 Trillion to the debt, so where is your surplus?

Here in Oregon wages went up 3% last year before any "tax reform" was passed. Additionally, 19 States passed higher minimum wage laws. Do you think that might have had some effect?
 
poweRob said:
Is that how it works? Then I "anticipate" and am "optimistic" about winning the lottery this year.

Yay me!
Click to expand...

I distinctly remember that even though I anticipated much and was optimistic about my post high school senior prom activities - in the end, the raise I hoped for did not materialize.
 
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RAMOSS said:
Well, the thing is that is artificial stimulation being pushed by debt. That is the very thing republicans complain about when Democrats are in office. ... it causes a 'boom/bust' cycle. .. or at least that is what has happened in the past 3 times the Republicans did ti.
Click to expand...

What do you think the value of a dollar is based upon?
 
haymarket said:
I distinctly remember that even though I anticipated much and was optimistic about my post high school senior prom activities - in the end, the raise I hoped for did not materialize.
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That poor 'bishop!'

:mrgreen:
 
Kreton said:
I anticipate and am optimistic you are going to feel compelled to split it with me.
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Son of a...

My optimism is now down by half.
 
haymarket said:
I distinctly remember that even though I anticipated much and was optimistic about my post high school senior prom activities - in the end, the raise I hoped for did not materialize.
Click to expand...

Oh **** you... I didn't even go to prom. Probably went all the way with myself that night however. :lol:
 
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