how will tax cuts help taxpayer?
how will tax cuts help taxpayer
- Byrne HLv 41 decade agoFavorite Answer
Lots of ways. The biggest: you get to keep (and decide how to spend) more of your own money. Most people are more careful when they're spending their own money; when Congress has access to trillions of dollars of other people's money, they're pretty irresponsible with it.
The next biggest: it makes it more rewarding to work, but means you don't need to do as much work to get the same income. If your after-tax income goes up, there are more kinds of work you can do (if payroll taxes went to zero, at least a few waiters in LA and New York would quit because they can finally afford to be actors), but you don't need to do as much of it (so doctors, lawyers, and other hard-working professionals might be able to spend a little more time with their families).
The most interesting changes are the hardest to predict. For example, you wouldn't think that tax policies would change how often people drink during lunch -- but they did!
- 1 decade ago
Tax cuts increase the money in circulation. They increase government tax revenue (because more money is circulated in the economy) and improve the quality of life for tax payers who get to spend more of what they earn.
- 1 decade ago
umm you get money back after you send in your taxes from the gov. Its kinda obvious. After you pay taxes you will get some money for what ever reason. You could do anything you want to do with this money.