Tax Cuts are wasted
when ordinary people don’t have pricing power (aka, there isn’t a labor shortage and lots of competition offering the products and services they need.) Thus, this:
And that tax cut you got me? Thanks, a lot. Didn’t even cover the jumps in the price of gas and my monthly minimum payments and my insurance premiums and my grocery bills. Didn’t offset the amount I lost in reduced hours and no more overtime and did I mention I haven’t gotten a real raise in ten years?”
Stated this would happen back when everyone was spewing about the biggest middle class tax cut. What Americans need isn’t tax cuts, it’s a working economy, which tax cuts will not lead to. Period.