Tax cuts and middle class?
I was informed that middle class citizens will be recieving a tax cut. What will happen to those that their incomes don't meet "middle class" ??
It may be a dumb question but I am curious... Thanks!
so I am assuming you're the super rich? hm? I like to be inform and I like to hear from the yahoo! community.
Be a little bit happier with life. :D
- taxreffLv 71 decade agoFavorite Answer
Its best not to hope for any tax breaks based on such general statements. Nothing is a done deal in taxes until its signed into law.
Years ago a fellow accountant made a bipartisan remark to me, which while somewhat exaggerated is basically true. He said you can always tell which party authorized a particular piece of tax legislation.
He said the Republicans always want to help the little guy, with the definition of a little guy being anyone making under $2 million per year. Meanwhile, the Democrats always want to make the rich pay their fair share, with the definition of rich being anyone working 40 hours a week at more than minimum wage.
- acmeravenLv 71 decade ago
Bad news I am afraid; there is no longer a middle class. Just the super rich fat cats and those who are drones living off the sweat of the working americans. The middle class has been eliminated by the bailouts and the drastic increase in taxes that will take place to pay for the bailouts and largess. Work harder and quit wasting time on your computer asking questions.