How the GOP Tax Cut Will Shrink Your Paycheck

When Republicans cut taxes, wages go down or stay flat for working people. Ultra-rich billionaires who own the Republican Party know that when working/middle-class people get a tax cut, it means that over time working-class wages will go down – which is why they’re more than happy to give us all a temporary tax cut.

This is what wealthy people know that most Americans don’t: Tax cuts for truly wealthy people increase their income and wealth; tax cuts for working people actually decrease their income and wealth over time. This is because of what economist David Ricardo referred to as the “market for labor,” as well as the different ways working class versus rich people use their “extra money.” Here’s how it works: Read the rest of the story at AlterNet: How the GOP Tax Cut Will Shrink Your Paycheck