President Trump has been crowing incessantly about the rise in the stock markets. Hasn’t anyone told him than many of us simply don’t hold portfolios that reflect the gains? With salaries of $15 per hour, which is high for many sectors, families don’t have much left over to put into individual retirement accounts or to purchase mutual funds.
The bonuses that many corporations are now handing out after the approval of the new tax regime are calculated to distract from the large corporate earnings that will result from the generous tax cuts.
Sure, a $3,000 one-time bonus is nice, but how likely will it be there next year, while the benefits of the new corporate rates, not to mention the benefits to the ultra-wealthy, will be there for years to come, as will our growing deficit?
Roy Herrmann
Cape Elizabeth
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