Why does the Left oppose tax cuts for the rich? (generation, Baby Boomers)

[BajanYankee]

I posted this in a different thread.

Originally Posted by BajanYankee

What do the nation's leading economists think?

http://www.igmchicago.org/surveys/tax-reforms

Question B: The tax reform plan proposed by President Trump this week would likely pay for itself through higher economic growth.

Daron Acemoglu (MIT) - Strongly Disagree
Alberto Alesina (Harvard) - Strongly Disagree
Joseph Altonji (Yale) - Strongly Disagree
Alan Auerbach (Berkeley) - Strongly Disagree
David Autor (MIT) - Strongly Disagree
Katherine Baicker (Chicago) - Disagree
Abhijit Banerjee (MIT) - Strongly Disagree
Marianne Bertrand (Chicago) - Strongly Disagree
Markus Brunnermeier (Princeton) - Strongly Disagree
Raj Chetty (Stanford) - Did Not Answer
Judith Chevalier (Yale) - Strongly Disagree
David Cutler (Harvard) - Strongly Disagree
Angus Deaton (Princeton) - Strongly Disagree
Darrell Duffie (Stanford) - Strongly Disagree
Aaron Edlin (Berkeley) - Strongly Disagree
Barry Eichengreen (Berkeley) - Strongly Disagree
Liran Einay (Stanford) - Disagree
Ray Fair (Yale) - Strongly Disagree
Amy Finkelstein (MIT) - Strongly Disagree
Pinelopi Goldberg (Yale) - Did Not Answer
Austan Goolsbee (Chicago) - Strongly Disagree
Michael Greenstone (Chicago) - Strongly Disagree
Robert Hall (Stanford) - Disagree
Oliver Hart (Harvard) - Strongly Disagree
Bengt Holmstrom (MIT) - Strongly Agree
Caroline Hoxby (Stanford) - Did Not Answer
Hillary Hoynes (Berkeley) - Strongly Disagree
Kenneth Judd (Stanford) - Strongly Agree
Steven Kaplan (Chicago) - Disagree
Pete Klenow (Stanford) - Disagree
Jonathan Levin (Stanford) - Disagree
Eric Maskin (Harvard) - Disagree
William Nordhaus (Yale) - Strongly Disagree
Emmanuel Saez (Berkeley) - Strongly Disagree
Larry Samuelson (Yale) - Strongly Disagree
Jose Scheinkman (Princeton) - Disagree
Richard Schmalensee (MIT) - Strongly Disagree
Carl Shapiro (Berkeley) - Strongly Disagree
Robert Shimer (Chicago) - Did Not Answer
Richard Thaler (Chicago) - Strongly Disagree
Christopher Udry (Yale) - Strongly Disagree

[nononsenseguy]

Democrats don't like cutting taxes for anyone. The last Democrat that cut taxes was JFK.

[BajanYankee]

Originally Posted by nononsenseguy

Democrats don't like cutting taxes for anyone. The last Democrat that cut taxes was JFK.

You have fun repeating this, don't you?

[MTAtech]

Originally Posted by nononsenseguy

Democrats don't like cutting taxes for anyone. The last Democrat that cut taxes was JFK.

Barack Obama said he's cut taxes for 'middle-class families, small businesses' | PolitiFact

[FatBob96]

Originally Posted by natalie469

But she still makes them money though. I have no idea why many of you are so against the middle class yet support the tax cuts for the rich.

Why is the concept that everyone should pay the same percentage of their income in taxes so difficult for some people to accept?

[FirebirdCamaro1220]

Originally Posted by FatBob96

Why is the concept that everyone should pay the same percentage of their income in taxes so difficult for some people to accept?

Because it punishes lower earners simply because they are lower earners

[MTAtech]

Originally Posted by FatBob96

Why is the concept that everyone should pay the same percentage of their income in taxes so difficult for some people to accept?

First, fairness. It's easier for the rich to pay taxes. Lower income people would find it a burden to pay the same rate as the rich. Moreover, taxing lower income people the same raises little revenue, so it makes sense to give them a break.

Second, even Adam Smith thought the rich should pay more. From Wealth of A Nation:

"The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state."

"The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich . . . . It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

"It must always be remembered, however, that it is the luxuries, and not the necessary expense of the inferior ranks of people, that ought ever to be taxed."

[sammy87]

The more you make, the more you pay. The idea the rich dont pay taxes is just stupid. Medicare Surtax? Higher tax bracket.....Id like the govt to cut spending.

The ultra rich make their money off bonuses and stock options which are taxed at an extreme rate or money that has already been taxed, so you want the govt to double dip?

[FatBob96]

Originally Posted by FirebirdCamaro1220

Because it punishes lower earners simply because they are lower earners

Nobody is being "punished" in a flat tax scenario.

Everyone would contribute to society in equal proportion.

But our currently system definitely "punishes " people who earn more.

And the real problem is that you don't have to be "rich" before that punishment takes place.

[sammy87]

Originally Posted by FirebirdCamaro1220

Because it punishes lower earners simply because they are lower earners

My sister in law went to school for about 8 years to become an admin for city schools. Im guessing starting pay $40-$50k. She's got well over $100k in debt. Its not my fault that was her chosen path and it shouldn't be my responsibility to help support her.

With the interest write off on her taxes, she won't be paying any taxes and most likely get a good chunk back.