Found this story posted on the MSN Money site. It says labor department statistics just released show that American workers aren’t benefitting from the tax cuts and that there is a slight drop in wages. Really now!
I remember seeing stories over the last several months showing unemployment figures from the Labor Department indicating that hundreds of thousands of new jobs have been created since the tax cuts and the job market is approaching effective zero unemployment in that there more jobs available than there are people competent to perform those jobs.
It seems to me that if hundreds of thousands of formerly unemployed people now have jobs, that is a massive wage benefit to those who were unemployed. Other people who moved from one job to another also received financial boosts since they probably wouldn’t have taken the jobs without a salary increase. Since so much money is being spent quickly on new jobs, that leaves a lot less for those who were already employed and so wages may not rise that quickly for them. On the other hand, the financial benefits of the tax cut created an environment where they weren’t laid off because of a slowing economy. So that seems like another spectacular gain for those who would have lost their jobs without the tax cut.