The Trump administration deregulation efforts will raise incomes by about $3,100 per household over the next five to 10 years, and sharply reduce prices for consumers, according to a report released Friday by the White House Council of Economic Advisers.
“The deregulatory efforts of the Trump administration have also removed mandates from employers, especially smaller businesses, and have removed burdens that would have eliminated many small bank lenders from the marketplace,” Casey Mulligan, the chief economist for the Council of Economic Advisers, told reporters Friday. “These deregulatory actions are raising real incomes by increasing competition, productivity, and wages.”
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Wow!! A whole $3,100.00 spread out over 5-10 years? Is that after inflation, and taxes (Federal, State, Local)? Is that number an average increase, where-in some will make more whilst others have less? Or is that a Blanket Net Figure for all households where someone works for a living? Well $3,100.00 divided by 5 years equals $620.00/year, or about $51.67/month, or $1.73/day. Divided by 10 years it equals $310.00/year, or $25.83/month, or .86 cents/day. Geez Louise, I wonder how much $,$$$,$$$.00 it took to come up with this "Grand Scheme." There has to have been some real time wizardry to figure out how to sell it to us schlubs. It sounds like someone pulled an all nighter with their pocket calculator. But Hey, Thank You!
ReplyDelete:) It's better than one step backwards at least.
DeleteThat's one way to look at it. Let's look at it a different way, but first some questions.
DeleteIs the $3,100 a ten year total or does the figure represent and incremental increase until at year ten it will become $3,100 per year per household?
Whichever way it is, that $3,100 represents the tax increases will not not cut into a household's income. That shorter stack of paper - I assume to represent fedgov regulations - of 1960 did not become the much larger stack of today overnight. Day by day, year by year, the monster continued to grow until it is the behemoth it is to day. And it will continue to grow, except there is now a $3,100 reduction. That reduction is more than a measly few pennies per day for it tells of that the beast will go on a diet.
Of course, we'll see. My money is that whatever decrease or 'savings' will be less than advertised and will be short-lived. But hey, at least, for today, something is being done to reign in the bloated beast of fedgov.
Rick
How much $$$$$$$ would we save per household if we did away with about 80% of the Government? Just a thought.
ReplyDelete:) 50% would make me happy.
DeleteI'm fairly certain that it means that in 5 to 10 years from now I'll be seeing an additional $3,100 per year in my paycheck. Not $3k total spread out over 10 years. Which for me would equate to about another $240 per month net income. Which is no small change for our family.
DeleteI wasn't sure either way but any extra money would be useful.
Delete