House Speaker Paul Ryan (R-Wis.) really wants you to know how great the Republican tax cuts are.
Worried that the partisan Nunes memo released Friday will undermine the FBI’s ability to do its job? Ryan is happy to remind you, ”The tax cuts are working.”
On Saturday, Ryan outdid himself again with a tweet bragging about the extra $1.50 a week that a Pennsylvania secretary is making thanks to the GOP legislation.
“A secretary at a public high school in Lancaster, PA, said she was pleasantly surprised her pay went up $1.50 a week ... she said [that] will more than cover her Costco membership for the year,” Ryan tweeted on Saturday.
(Photo: Paul Ryan/Twitter)
The tweet refers to an anecdote about the secretary, Julia Ketchum, in an Associated Press article.
A dollar and 50 cents a week amounts to $78 a year. Although every little bit counts for Americans living paycheck to paycheck, an extra $78 a year is a very small amount of money by any standard.
The tweet predictably drew mockery, and Ryan deleted it Saturday afternoon.
To be fair, the $1.50 figure likely reflects Ketchum’s reduced tax withholding in her paycheck due to lower tax rates. As a result of increases in deductions, including a doubling of the standard deduction, she may also get more money back after filing her 2018 taxes next spring.
House Speaker Paul Ryan (R-Wis.) touted the extra $1.50 a week that a secretary would be getting thanks to the tax cut. (Photo: Leah Millis/Reuters)
Ketchum’s experience nonetheless exemplifies a fundamental truth about the tax bill: The gains it provides ordinary people pale in comparison to the boost it gives the super-wealthy.
Middle-class households will, on average, see a $930 increase ― or 1.6 percent boost ― in after-tax income thanks to the GOP tax cut, according to the nonpartisan Tax Policy Center.
By contrast, the top 1 percent of earners ― households making more than $730,000 ― stand to get a 3.4 percent bump, or about $51,000, the Tax Policy Center estimates.
And the TPC projects that the top 0.1 percent of earners, who make $3.4 million a year or more, are due for an extra 2.7 percent, or $193,000.
Notably, other policies more targeted at lower- and middle-income Americans have been shown to provide significant increases in Americans’ hourly take-home pay, as opposed to the boost Ketchum is seeing in her weekly check.
Raising the federal minimum wage from its current level of $7.25 an hour to $15 an hour by 2024 would raise pay for almost one-third of American workers, according to an analysis by the Economic Policy Institute, a progressive think tank. The average full-time worker affected by the increase would get a $3,500 raise once the $15 minimum is phased in, the EPI estimates.
Another key avenue for workers seeking higher wages that grow in tandem with their employers’ profits are labor unions. In 2017, the median pay of a unionized worker was 25.6 percent higher than the median pay of a non-union worker, according to the Bureau of Labor Statistics.
Yet Ryan and his Republican allies are deeply opposed to increasing the minimum wage or making it easier for labor unions to organize. For example, Ryan supported Wisconsin Gov. Scott Walker’s (R) successful 2011 bid to strip Wisconsin’s public sector workers of their collective bargaining rights.
Sen. Richard Blumenthal (D-Conn.) talks with Sen. Elizabeth Warren (D-Mass.) before the start of a Senate Armed Services Committee hearing concerning the roles and responsibilities for defending the nation against cyberattacks, on Oct. 19, 2017.
With Liberty And Justice...
Members of Code Pink for Peace protest before the start of a hearing where U.S. Attorney General Jeff Sessions will testify to the Senate Judiciary Committee in the Hart Senate Office Building on Capitol Hill on Oct. 18, 2017. Committee members questioned Sessions about conversations he had with President Donald Trump about the firing of former FBI Director James Comey, the Deferred Action for Childhood Arrivals (DACA) policy, the ongoing investigation about Russian interference in the 2016 presidential election and other subjects.
Whispers
Sen. Richard Burr (R-N.C.), right, speaks with Sen. Mark Warner (D-Va.) before a confirmation hearing for Christopher Sharpley, nominee for inspector general of the CIA, on Oct. 17, 2017.
Not Throwing Away His Shot
Lin-Manuel Miranda, creator of the musical "Hamilton," makes his way to a meeting of the House Appropriations Subcommittee on Interior, Environment and Related Agencies in the Rayburn Office Building during a round of meetings to urge federal funding for the arts and humanities on Sept. 13, 2017.
Medicare For All
Sen. Bernie Sanders (I-Vt.), center, speaks on health care as Sen. Richard Blumenthal (D-Conn.), left, and Sen. Kirsten Gillibrand (D-N.Y.), right, listen during an event to introduce the Medicare for All Act on Sept. 13, 2017.
Bernie Bros
Supporters of Sen. Bernie Sanders (I-Vt.) pack his office on Sept. 8, 2017. Members of the "Draft Bernie for a People's Party" campaign delivered a petition with more than 50,000 signatures to urge the senator to start and lead a new political party.
McCain Appearance
Sen. John McCain, second from left, leaves the Capitol after his first appearance since being diagnosed with cancer. He arrived to cast a vote to help Republican senators narrowly pass the motion to proceed for the replacement of the Affordable Care Act on July 25, 2017.
A Narrow Win
Senate Majority Leader Mitch McConnell, center, speaks alongside Sens. John Barrasso, left, John Cornyn, right, and John Thune, rear, after the Senate narrowly passed the motion to proceed for the replacement of the Affordable Care Act on July 25, 2017.
Kushner Questioning
Jared Kushner, White House senior adviser and son-in-law to President Donald Trump, arrives at the Capitol on July 25, 2017. Kushner was interviewed by the House Intelligence Committee in a closed-door meeting about contacts he had with Russia.
Hot Dogs On The Hill
Rep. Frank Lucas (R-Okla.) prepares a hot dog during the American Meat Institute's annual Hot Dog Lunch in the Rayburn Office Building courtyard on July 19, 2017.
And Their Veggie Counterparts
Rep. Jackie Speier (D-Calif.) visits the People for the Ethical Treatment of Animals veggie dog giveaway on July 19, 2017, countering a National Hot Dog Day event being held elsewhere on Capitol Hill.
Poised For Questions
Callista Gingrich, wife of former House Speaker Newt Gingrich, waits for a Senate Foreign Relations Committee hearing on her nomination to be the U.S. ambassador to the Vatican on July 18, 2017.
Speaking Up
Health care activists protest to stop the Republican health care bill at Hart Senate Office Building on Capitol Hill on July 17, 2017.
In The Fray
Sen. Ted Cruz (R-Texas) speaks to members of the media after announcing the revised version of the Senate Republican health care bill on Capitol Hill on July 13, 2017.
Anticipation
Christopher Wray is seated with his daughter Caroline, left, as he prepares to testify at a Senate Judiciary Committee confirmation hearing on his nomination to be the next FBI director on July 12, 2017.
Up In Arms
Health care activists protest to stop the Republican health care bill at Russell Senate Office Building on Capitol Hill on July 10, 2017.
Across A Table
Speaker of the House Paul Ryan (R-Wis.) meets with South Korean President Moon Jae-in on Capitol Hill on June 29, 2017.
Somber Day
House Minority Leader Nancy Pelosi (D-Calif.) speaks about the recent attack on the Republican congressional baseball team during her weekly press conference on Capitol Hill on June 15, 2017.
Family Matters
Rep. Joe Barton (R-Texas), right, and his sons, Jack, 10, and Brad, arrive in the basement of the Capitol after a shooting at the Republican baseball practice in Alexandria, Virginia, on June 14, 2017.
A Bipartisan Pause
Rep. Joe Barton (R-Texas), right, coach of the Republican congressional baseball team, tells the story of the shooting that occurred during a baseball practice while he stands alongside Rep. Mike Doyle (D-Pa.), left, a coach of the Democratic congressional baseball team on June 14, 2017.
Hats On
Rep. Chuck Fleischmann (R-Tenn.) reacts about the shooting he was present for at a Republican congressional baseball practice in Alexandria, Virginia, as he speaks with reporters at the U.S. Capitol in Washington on June 14, 2017.
Public Testimony
U.S. Attorney General Jeff Sessions is sworn in to testify before a Senate Intelligence Committee hearing on Capitol Hill on June 13, 2017.
Comey's Big Day
Former FBI Director James Comey testifies before a Senate Intelligence Committee hearing on Russia's alleged interference in the 2016 U.S. presidential election on Capitol Hill on June 8, 2017.
Conveying His Point
U.S. Director of National Intelligence Daniel Coats testifies at a Senate Intelligence Committee hearing on his interactions with the Trump White House and on the Foreign Intelligence Surveillance Act on June 7, 2017.
Selfie Time
Vice President Mike Pence takes a selfie with a tourist wearing a "Make America Great Again" hat inside the U.S. Capitol rotunda on June 6, 2017. The vice president walked through the rotunda after attending the Senate Republican policy luncheon.
Budget Queries
Office of Management and Budget Director Mick Mulvaney testifies before the House Budget Committee about President Donald Trump's fiscal 2018 budget proposal on Capitol Hill on May 24, 2017.
Flagged Down By Reporters
Sen. Richard Burr (R-N.C.), chairman of the Senate Intelligence Committee, leaves a closed committee meeting on Capitol Hill on May 24, 2017. The committee is investigating possible Russian interference in the U.S. presidential election.
Shock And Awe
House Minority Leader Nancy Pelosi (D-Calif.) and Sen. Bernie Sanders (I-Vt.) hold a news conference on the release of the president's fiscal 2018 budget proposal on Capitol Hill on May 23, 2017.
Seeing Double
Sen. Dianne Feinstein (D-Calif.) arrives in the Capitol for the Senate Democrats' policy lunch on May 16, 2017.
Honoring Officers
President Donald Trump speaks at the National Peace Officers Memorial Service on the West Lawn of the Capitol on May 15, 2017.
Whispers
Senate Intelligence Committee Chairman Richard Burr (R-N.C.), right, and ranking member Sen. Mark Warner (D-Va.) talk during a hearing with the heads of the U.S. intelligence agencies in the Hart Senate Office Building on Capitol Hill on May 11, 2017.
Skeptical
Former acting Attorney General Sally Yates arrives to testify before a Senate Judiciary Committee hearing on Russian interference in the 2016 U.S. election on Capitol Hill on May 8, 2017.
Differing Opinions
Rep. Glenn Grothman (R-Wis.) gives a thumbs-up to protesters on the East Front of the Capitol after the House passed the Republicans' bill to repeal and replace the Affordable Care Act on May 4, 2017. The protesters support the ACA.
Real Talk
United States Naval Academy Midshipman 2nd Class Shiela Craine (left), a sexual assault survivor, testifies before the House Armed Services Committee's Subcommittee on Military Personnel with (2nd from left to right) Ariana Bullard, Stephanie Gross and Annie Kendzior in the Rayburn House Office Building on Capitol Hill on May 2, 2017. Kendzior, a former midshipman, and Gross, a former cadet, were both raped twice during their time at the military academies. The academy superintendents were called to testify following the release of a survey last month by the Pentagon that said 12.2 percent of academy women and 1.7 percent of academy men reported experiencing unwanted sexual contact during the 2015-16 academic year.
In Support Of Immigrants
Congressional Hispanic Caucus Chair Rep. Michelle Lujan Grisham (D-N.M.), center, is joined by dozens of Democratic members of the House of Representatives to mark "Immigrant Rights Day" in the Capitol Visitor Center on May 1, 2017 in Washington, D.C. The Democratic legislators called on Republicans and President Donald Trump to join their push for comprehensive immigration reform.
Affluent Americans may want to double-check how much of their bank deposits are protected by government-backed insurance. The rules governing trust accounts just changed.
Teams have made their big splashes in free agency and made their draft picks, it's time for you to do the same. It's fantasy football mock draft time. Some call this time of year best ball season, others know it's an opportunity to get a leg up on your competition for when you have to draft in August. The staff at Yahoo Fantasy did their first mock draft of the 2024 season to help you with the latter. Matt Harmon and Andy Behrens are here to break it all down by each round and crush some staff members in the process.
Budgeting apps can help you keep track of your finances, stick to a spending plan and reach your money goals. These are the best budget-tracking apps available right now.
The average 30-year fixed mortgage rate edged back toward 7% this week but remains elevated, prompting housing experts to revise their forecasts for the rest of 2024.
With free agency and the draft behind us, what 32 teams look like today will likely be what they look like Week 1 and beyond for the 2024 season. Matt Harmon and Scott Pianowski reveal the post-draft fantasy power rankings. The duo break down the rankings in six tiers: Elite offensive ecosystems, teams on the cusp of being complete mixed bag ecosystems, offensive ecosystems with something to prove, offenses that could go either way, and offenses that are best to stay away from in fantasy.
Jake Mintz & Jordan Shusterman discuss the Padres-Marlins trade that sent Luis Arraez to San Diego, as well as recap all the action from this weekend in baseball and send birthday wishes to hall-of-famer Willie Mays.
