SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Joan Osland Graffius who wrote (1353)10/8/2003 6:37:59 PM
From: russwinter  Read Replies (2) of 110194
 
OK, Joan, Biderman adjusts the raw withholding numbers by 4% to reflect the tax cut and give the American worker's after tax wage. So the absolutely flat raw numbers of 169,118 (03) versus 169,132 (02) we're seeing from 8/22/03 to today's release 10/7, would translate into 4.0% after tax wage growth (but for the same number of workers, not new ones), which keeps Americans just a little ahead of the so called CPI number of 2-2.5% (which many would argue is understated).

I think these numbers just illustrate how bad things would have been without the tax cut. The problem with the tax cut however, is that it has contributed to another leak in the dam (the twin deficits and more borrowing from foreigners, as the US savings rate can't be increased in this scenario). I really have to believe they were hoping for some real wage and employment growth by now? And it ain't happening, despite the enormous "controlled" media hype and pump. And how about going forward? Are they going to cut taxes in 2004 by like amount to keep Americans ahead of inflation (which I feel is picking up), and run up the twin deficits even more? I think the wheels are coming off.

I will post the weekly raw number here every Friday.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News