Bush's Tax Cut

[LuTze]

Hello!

 

I'd like to ask what people think of Bush's recently introduced tax cuts.

 

Do you feel they have benifited you at all? Is it a good thing that most of the money will be going to the wealthiest Americans? How is the record budget defecit that has been created going to be dealt with? Has the tax plan made you more or less likely to vote for Bush in the coming elections?

[Cap'n Refsmmat]

They benefited me! Having dependents is nice now.

[fafalone]

Beats the democrats plan to raise taxes...

[jadote]

It never ceases to amaze me that more middle- and low-income voters have yet to realize that the Republican Party's trickle-down economics place most of the tax burden on their shoulders. Why should corporations be exempted from high taxes? They make money off of American citizens yet it is us who support the government they operate under. This, coupled with the fact that many companies are now sending jobs overseas to turn a profit at the expense of the average American should enrage the non-wealthy. And yet we elected GW and sent his colleagues into office at mid-terms. Americans must like getting used.

[fafalone]

The higher income brackets are still taxed a MUCH higher percentage than middle and lower income brackets.

 

Say you have $10, and your tax rate is 10% and you pay $1 in taxes.

Now say you have $100.. your tax rate is now 50% and the government is taking HALF your money instead of 1/10th.

 

If you're going to critisize trickle-down economics, at least understand what the tax policy is like before complaining about it.

 

One of the unfailing principles of economics is that the higher the productivity of large corporations, the better the economy is for EVERYONE. The simplest example is the ability of war to pull the country out of depression. WW1 and the depression of the early 1910s, WW2 and the Great Depression, and now the post-9/11 depression and Iraq. When large companies have more money to spend on producing products, it's good for the economy.

[jadote]

Trickle-down economics has brought us such great wonders as the '81 tax cut by Ronald Reagan. Those cuts quadrupled the national debt, thanks to Reagan also demanding a military build-up. Sound familiar? Thanks to the Reagan cut, taxes were later increased, and most of the increases fell on the lower- and middle- classes. Bush's economic plan promises to do the same with his tax cuts and his current (and almost certainly future) war. As a result, our deficit will grow. One day we will be sorry we amassed the enormous debt, and our economy will come crashing down. But don't worry, you'll probably be dead by then.

[ignrnceprevails]

correct me if im wrong..but isnt your response to jadote's first trickle-down economy response wrong? if im not mistaken, rich people pay a smaller percent of their total income on their taxes..i believe rich only pay like 35% on their taxes...so actually, no it isnt fair...if you want to poke at jadote for not knowing his shit then you should know your's first :lame:

[jadote]

Well, here are the hard facts on income taxes. The real rate from 2001 is actually lower than either you or fafalone predicted.

[fafalone]

ignrnceprevails said in post # :

correct me if im wrong..but isnt your response to jadote's first trickle-down economy response wrong? if im not mistaken, rich people pay a smaller percent of their total income on their taxes..i believe rich only pay like 35% on their taxes...so actually, no it isnt fair...if you want to poke at jadote for not knowing his shit then you should know your's first :lame:

 

Before trying to prove me wrong, maybe you should know your shit?

 

The highest income bracket pays around 38.6%, which is double the percentage the middle-income (~30k/year) pays.

 

obviously my reply was not ment to be exact, because people making 10-100 per year don't even file taxes you troll.

[ignrnceprevails]

weird..george w bush is like best friends with ken lay from enron? youre right, why would bush ever want to help the rich..what was i thinking

 

 

you got me, i admit it im an idiot :lame:

 

 

 

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