Why are tax cuts bad?
Even if you don't get a tax cut if your taxes don't go up why is that a bad thing? How can the a person keeping more of his own money destroy the the economy like some people have said?
- peppershamLv 71 decade agoFavorite Answer
Cutting now is the right thing to do.When the economy gets moving again the tax cuts will be taken back at some point.But finally the middle class gets some honest tax cuts that will help everyone.Trickle down never has worked they just pass it off onto the workers in higher health care costs.We all have set back and watched these things saying well its inflation,or operating costs when it was never true.I think its way past time when we got a grip on this,because if we don't you can't blame the new President but all the greed that has been allowed to run rampant for the past 8 years.They will fight to keep what they didn't earn but stole from the people.Obama is trying hard to give it back.You noticed no Republicans voted for this even though they will be winner too?
- unitedcats2004Lv 71 decade ago
Because cutting taxes means borrowing money to make up the shortfall, which means larger taxes down the road. And you can't keep doing that forever, in fact it's one of the reasons the economy is in free fall, we have cut taxes and lived beyond our means for decades now. And since most of the tax cuts in the past few decades have preferentially favoured the rich, thus ushering in the largest upwards transfer of wealth in history. And what is trickling down from this huge pile of money isn't wealth.
Cutting taxes without cutting spending got us into this mess, so cutting taxes while borrowing even more money is going to make it worse, not better. In fact the greed and dishonesty of the people in power who still have the nerve to suggest tax cuts is mind numbing, the world's governments, especially the USA, are beyond bankrupt. Massive taxation or hyperinflation is looming on the horizon now, not more tax cuts.
- 1 decade ago
Bush DOUBLED the national debt of this country in 8 short years.
Someone has to pay for it at some time, how else can it ever get paid down if all taxes are cut?
- Anonymous4 years ago
why develop the deficit better and performance to pay better taxes contained in the destiny? a tax relief received't develop the deficit. or maybe as the commercial gadget receives decrease back on course, when we could pay off this deficit, our taxes isn't as extreme. dems love handouts!
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- Wounded DuckLv 71 decade ago
Not "BAD", just not effective in stemming the economic trouble the US is in. Reps seem to think it is the end all, fix for everything. IT just isn't so.