Washington, DC – -(Ammoland.com)- The non-partisan Tax Foundation recently released their new analysis of the Tax Cuts and Jobs Act. Their reports show across the board savings and cuts for Americans all across the country.
The Tax Foundation estimates “that the plan would result in the creation of roughly 975,000 new full-time equivalent jobs, while increasing after-tax incomes by 4.4 percent in the long run. The increase in family incomes is the result of both the income tax cuts and the broader rise in productivity and wages due to economic growth. These estimates take into account all aspects of the Tax Cuts and Jobs Act, including changes to the individual and corporate tax codes.”
The top line numbers for the country are the following: United States – 975,000 new jobs with an average income gain of $2,598
“This is great news for the hardworking people of America. The Tax Foundation’s findings come on the heels of the Council of Economic Advisors estimating that our tax plan will boost income for a typical American family by over $4,000. So when the President said our plan would give the American people ‘a big, beautiful present for Christmas,’ he really meant it.” – White House spokeswoman Lindsay Walters
See the state-by-state numbers below:
| Estimated FTE Jobs Added (10-Year Estimate) | Estimated Gain in After-Tax Income for Middle-Income Family (10-Year Estimate) | |
| United States | 975,000 | $2,598 |
| Alabama | 13,323 | $2,078 |
| Alaska | 2,241 | $3,332 |
| Arizona | 18,234 | $2,512 |
| Arkansas | 8,277 | $2,020 |
| California | 111,108 | $2,932 |
| Colorado | 17,520 | $3,105 |
| Connecticut | 11,322 | $3,341 |
| Delaware | 3,053 | $2,554 |
| District of Columbia | 5,274 | $3,123 |
| Florida | 56,530 | $2,252 |
| Georgia | 29,521 | $2,355 |
| Hawaii | 4,367 | $3,174 |
| Idaho | 4,695 | $2,489 |
| Illinois | 40,545 | $2,701 |
| Indiana | 20,787 | $2,468 |
| Iowa | 10,589 | $2,600 |
| Kansas | 9,507 | $2,500 |
| Kentucky | 12,908 | $1,996 |
| Louisiana | 13,293 | $1,857 |
| Maine | 4,162 | $2,238 |
| Maryland | 18,259 | $3,245 |
| Massachusetts | 24,015 | $3,180 |
| Michigan | 29,168 | $2,512 |
| Minnesota | 19,525 | $3,090 |
| Mississippi | 7,718 | $1,808 |
| Missouri | 19,166 | $2,421 |
| Montana | 3,154 | $2,511 |
| Nebraska | 6,844 | $2,612 |
| Nevada | 8,765 | $2,439 |
| New Hampshire | 4,506 | $3,355 |
| New Jersey | 27,481 | $3,013 |
| New Mexico | 5,601 | $2,132 |
| New York | 63,357 | $2,703 |
| North Carolina | 29,264 | $2,366 |
| North Dakota | 2,932 | $2,648 |
| Ohio | 36,958 | $2,375 |
| Oklahoma | 11,138 | $2,241 |
| Oregon | 12,358 | $2,602 |
| Pennsylvania | 39,673 | $2,683 |
| Rhode Island | 3,304 | $2,707 |
| South Carolina | 13,850 | $2,391 |
| South Dakota | 2,918 | $2,528 |
| Tennessee | 19,999 | $2,259 |
| Texas | 81,108 | $2,558 |
| Utah | 9,625 | $2,969 |
| Vermont | 2,111 | $2,677 |
| Virginia | 26,417 | $2,924 |
| Washington | 21,875 | $3,094 |
| West Virginia | 5,042 | $1,952 |
| Wisconsin | 19,718 | $2,632 |
| Wyoming | 1,893 | $2,544 |
It is possible that the business owner will use his net profit increase to invest in more automation thereby increasing his output and employing fewer workers at the same time. That has been happening quite a bit. Generally the displaced workers do not find equivalent employment elsewhere.
@PonyPlayer, I don’t think you are looking at the whole picture here. For a business man to make more money is for him, or her, will have to step up production to keep up with competitors. There is only one way to do that and that is to expand the operation and that necessitates rewarding employees and hiring new employees. It is well understood that the business owner makes a profit from the employee’s production and that is necessary and reasonable, otherwise there would be no place for employees to work and make a living.
LIE,LIE, LIE IN THE 80S IT WAS CALLED TRICKLE DOWN ECONOMICS AND IT DIDNT WORK, SAM BROWNBACK TRIED IT IN KANSAS AND IT DIDNT WORK EITHER
It is all based on that the owners of the businesses will used the money they save on giving raises and hiring new employees. There are a lot of greedy owners/corporations that will keep the money as a profit and give themselves a bonus.