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Except the guy making 5 mill still has 4.5 mill left over and would not feel the tax while the guy who makes 50K only has 45K.
Tell me who does the guy making 5 Mill need to continue making that nice bank. He needs a whole bunch of those making 50K to be able to buy what ever he makes or sells. So if he paid double that amount he would still walk away with 4 mil. and if those making less then 50K pay less he would make 6 mill the next year.
So, by your standard, it would be just to have a person making $5,000,000 pay $4,500,000 in taxes because $500,000 is plenty of money, right?
So what? He earns more. And with a flat tax, he'd be paying SIGNIFICANTLY more in taxes for THE EXACT SAME THING.
While the little guy has less to spend. Less to move through the economy. Flat tax is nothing new it is just the rich guys wanting to make the little guy pay for their tax cut.
Flat tax was law of the land before. Lincoln signed the first progressive tax law in 1862. The GOP is still trying to take us back in time to the 1850's
It's too complicated to explain here. Just google it and you will find loads of info on it. But the rich are the only ones who come out on top with this bill.
I see the new administration as showing concern for no one other than the rich one who has everything to lose. A country can only flourish when civilians improve their day to day living. If and when enough people is angry at the government, who knows what they will do. I can understand if the administration wants to prevent any abuse of welfare, but I didn't feel that way.
"So Trumpcare is basically Cut benefits, Give rich a tax break?"
The only thing I find surprising about this Trumpcare is that people are shocked that an administration run by billionaires would make all their policies save themselves money.
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So, Trumpcare is basically Cut benefits, Give rich a tax break?
