Anonymous
Anonymous asked in Politics & GovernmentOther - Politics & Government · 1 decade ago

Who will tax cuts help?

Looking at the last census, seems like most people don't make anywhere near the $90,000 to $250,000 that is considered middle class and the earmark for tax cuts. the Median household income is less the 50,000 dollars.

see the link:

http://factfinder.census.gov/servlet/SAFFFacts?_ev...

All three candidates talk about tax cuts, but John McCain says iit will fix the economy how if the cuts are for the very wealthy

Update:

I have heard the argument about how the wealthy will create jobs and should get tax cuts, they called it "reganomics" in the 80's. however, companies are still laying off workers despite tax cuts. AT&T just announced it is laying off about 10,000 workers in the US

Update 2:

just plain jim: you have a very good point. they are raising the local sales taxes and also property taxes to pay for government projects.

5 Answers

Relevance
  • Anonymous
    1 decade ago
    Best Answer

    Tax cuts are really tax shifts to higher fees, local taxes, hidden taxes and fines.

    All tax cuts in recent years have done exactly that. Which does not affect the rich because the higher fees, taxes and fines are a drop in the bucket. For the middle class, it is a killer.

    Example:

    Fees for licenses, park entry fees, tax on your cell phone, higher education, tolls, property taxes, etc all go up. It all has to come from somewhere and what better way to do it then increase all of that.

    I would like to see a study to see what happens in the wake of a tax cut. If the people really knew that a tax cut costs them more, then they would say, NEVER AGAIN.

    But the government knows the middle class is into instant gratification, so a tax cut is a very easy way to increase revenue.

    The rich are laughing at us, and mostly at the people that support them.

    ===============

    Life is so simple, but we insist on making it complicated

    Confucius

    551 - 479 BC

    ===============

    Peace

    Jim

    .

  • Anonymous
    1 decade ago

    People who make $90,000 a year are far from rich. Imagine a family of 5 making $90,000 a year, that's still not enough to pay for college for all those kids. Families who make that much are better off from some others but are not rich. Also, many small business owners make that much money. If you start taxing those people small business owners will have to fire employees and that hurts the people lower on the totum poll. Also, guess what, if you tax a business they don't pay the taxes and take a cut in their profits, they just raise the prices to compensate and let the customers pay the tax so when you think your getting "the man" your actually just hurting the little people buying the products.

  • Anonymous
    1 decade ago

    In 2000 when the last time they did this it did not help instead the tax cuts that were past later on were shown to be more effective in turning the economy around.

  • Sway
    Lv 4
    1 decade ago

    I am saving approximately $2000 a year because of the Bush tax cuts and I am well below those numbers.

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    Who do you think creates the freaking jobs? The poor? People with money create jobs, people with incentive to make more money create jobs. It's only common sense that if you take more in taxes from the wealthy, you aren't going to hurt them, they'll still be wealthy, but you kill the incentive to try to make more money by creating something. There go the jobs.

Still have questions? Get your answers by asking now.