Companies including Apple, American Airlines and Home Depot are all generating positive headlines for giving some employees one-time bonuses, which they are crediting to the tax cuts recently passed by Congress (the corporate rate was reduced from 35 percent to 21 percent). The problem with that, as the New York Times reports, is that the bonuses are taking the place of actual raises.

Companies including Apple, American Airlines and Home Depot are all generating positive headlines for giving some employees one-time bonuses, which they are crediting to the tax cuts recently passed by Congress (the corporate rate was reduced from 35 percent to 21 percent). The problem with that, as the New York Times reports, is that the bonuses are taking the place of actual raises.