Because the tax cuts were largely to business taxes and other taxes such as the inheritance tax, not cuts that would benefit typical individuals. Some of the cuts were to income tax, but many wage earners pay little income tax or, for low-earners, no income tax.
It’s also worth noting that the cuts to income tax were heavily weighted to the top, so if you’re the typical lower-half wage earner you won’t see much. And, of course, those cuts are scheduled to end in a few years anyway, while the business cuts are permanent.
I hate to engage in “gotcha” journalism but the chamber having put out this paper, it needed some analysis, and what else can be said but that they want us to be excited about these few dollars a month? I spoke to Guith in part to see what the response was to my asking for confirmation about such a small amount and he confirmed those numbers are correct.
And what has happened to a great deal of the money saved from tax cuts and the money repatriated? Has it gone to making jobs? Some, but mostly just to keep up with the continuing recovery. A lot of it has gone to those stock buybacks and generally just fattening up the top.
Tricked again. Trickled down economics is a Trumpian fraud being waged on the 99 percent, who often have no idea how economics really works.