Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yup, a tax cut that gives something like 80 percent of the benefit to to those with income over 500k is def the one for the party of the workers. Check what those cuts do down the road when many of he cuts are phased out too.
The rich already pay most of the taxes. If a family does not pay federal income taxes, as does almost half of the country, how can you cut their taxes?
I am disappointed that the House GOP tax bill leaves the carried interest loophole open. However, unlike the Bush tax cuts, the proposed cuts here seem to mostly result in a shifting of the tax burden from the middle class to the upper middle class. The upper class does appear to be preserving its privileges, which I dislike.
The poor and working class largely don't pay federal income taxes after the refund check gets sent out in the spring, so tax cuts don't affect them.
This mirrors party politics. The middle class is somewhat Republican, the upper class is split, and the upper middle class is trending Democratic. So the Republicans will soak the upper middle class professionals who won't vote for the party anyway.
There's that and also the removal of SALT. SALT benefits people in areas of high local taxes, especially sales and property. This hurts the middle class and workers.
Removing SALT benefits workers in low tax states, who subsidize those in high tax states and localities because SALT is a federal subsidy of high tax state and local municipalities.
It's about politics, not class. People who benefit from SALT deductions largely vote Democratic, so why should Republican policy benefit them? Their votes are already unreachable.
The rich already pay most of the taxes. If a family does not pay federal income taxes, as does almost half of the country, how can you cut their taxes?
I am disappointed that the House GOP tax bill leaves the carried interest loophole open. However, unlike the Bush tax cuts, the proposed cuts here seem to mostly result in a shifting of the tax burden from the middle class to the upper middle class. The upper class does appear to be preserving its privileges, which I dislike.
The poor and working class largely don't pay federal income taxes after the refund check gets sent out in the spring, so tax cuts don't affect them.
This mirrors party politics. The middle class is somewhat Republican, the upper class is split, and the upper middle class is trending Democratic. So the Republicans will soak the upper middle class professionals who won't vote for the party anyway.
I don't get why people don't realize the whole thing of the tax refund. Many people pay through the year with their paychecks and then due to a combination of deductions and credits, they get money back.
The Left thinks trickle down doesn't work because they have a distorted view of what it is.
Trickle down is just capitalism being allowed to work the way is should.
But the Left expects the trickle down to fall into their laps..
..
But it can't.......because it's not money that trickles down.
It's opportunity.
Trickle down is based on the theory that any extra money wealthy people have, or wealthy corporations have, will translate into jobs and a better economy. This is a myth. What about all of the money they hide overseas to avoid paying taxes on it? How is that trickle down?
According to the capitalist handbook, you make yourself as rich as possible no matter what it takes. If they get a tax cut and can still get by with 100 workers, instead of 110 workers. That's what they'll do. They aren't going to hire people or give the people already there a raise just for a feel good moment. They're greedy b@stards.
They might expand their business but they just dump more work on whoever is there, and give them a crappy yearly raise to boot.
The problem in the U.S. isn't the number of jobs, it's wages and how much disposable income people have.
Trickle down has not been proven to effect either one of those things.
They're blinding holding onto the neoliberal Reaganonics mentality of the 80s to the 00s era. An era that led to the many of the problems we have economically speaking today. They believe big business are a god and dociley follow what they say. In the end profits is their goal.
Well, you got one part right. In the end, profit is the goal. For everybody!!!! Rich or poor, black or white, male or female, almost all of us are out to make money. Some of us make that money through wages, others through profits from businesses they run where they "EMPLOY" people to make products and in return they pay the workers wages. It's a crazy system I know. But we all want to make more money. Be it from more profits or higher wages.
However, the part about blindly holding on, dead wrong. My eyes are wide open.
****I may not agree with what you say, but I'd defend to the death your right to say it!****
Consumers pay taxes and the poor consume a lot so fail on your part.
Consumers also pay a lot to the finance sector.
Google income tax and then sales tax. It will teach you the difference since you don't know.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
