Anonymous asked in Business & FinanceTaxesUnited States · 1 decade ago

What are the effects of Bush's Tax Cuts?

Who have they affected? How much have people saved? Do these tax cuts increase Federal Tax Revenue?

3 Answers

  • 1 decade ago
    Favorite Answer

    The first poster says that Bush’s tax cuts let all us keep more of our income. This is not true, many people don’t pay taxes, so how do they get to keep more.

    Last Sunday on 60 minutes Warren Buffet said that taxes are too low for the rich. He calculates that because most of his income is from capital gains and dividends he pays less as a percentage of his income than most of his employees. Maybe he is right

    Many people mostly republicans will tell you that the rich should pay the same rate as everyone else because that would be fair. I think the rich should pay more than every one else because this country has been good to them

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  • r_kav
    Lv 4
    1 decade ago

    The rich get richer.

    The next time a Republican tells you that reduced tax rates result in greater tax revenue, ask him if that means a "0" tax rate would bring in a bundle.

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  • 1 decade ago

    Simple, His tax cuts, let us all keep more money. This allowed us to buy more, and that put more money back into the system, which helps the economy. And then a couple weeks back, the democrat held congress passed one of the biggest tax bills in our history, so now more of our money goes to the government.

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