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.
Off the bat, some people will say that tax cuts can never be redistributive as long as they are nonrefundable, because there's no redistribution involved in letting people keep more of their own money.
I've long derided the Bush Tax Cuts as tax cuts for PARENTS because they expanded child tax credits.
I'm deriding the Trump Tax Cuts as tax cuts for PARENTS because they expanded child tax credits.
The tax cuts effectively shift the tax burden toward childless taxpayers. Isn't that a form of redistribution?
If the answer is NO, why not just stick childless taxpayers with the tab?
It only redistributes money to those who pay no effective federal income taxes and then receive an actual check from the IRS due to the child credits. I oppose anyone receiving a “refund” that paid nothing to begin with.
It is absurd. If you take some money from some rich clown and use it to pave the roads, you're a "socialist commie" or some nonsense. But if you just give most of the money to the rich, a few bucks to the working class, and let the roads fall apart while sticking the next generation with the bill, you're suddenly a "patriotic hero." It's nuts.
I think I'm going to call up my credit card company the next time the bill comes due and simply pay them a lot less that what I owe this month. After all, think of the "savings" I'll have, and it's "my money," right?
Off the bat, some people will say that tax cuts can never be redistributive as long as they are nonrefundable, because there's no redistribution involved in letting people keep more of their own money.
I've long derided the Bush Tax Cuts as tax cuts for PARENTS because they expanded child tax credits.
I'm deriding the Trump Tax Cuts as tax cuts for PARENTS because they expanded child tax credits.
The tax cuts effectively shift the tax burden toward childless taxpayers. Isn't that a form of redistribution?
If the answer is NO, why not just stick childless taxpayers with the tab?
Do it for the children.
When you change the ratios of taxes paid so that one group gains and another loses or does not gain at the same level you are redistributing wealth. That is what occurred when the current tax bill was passed and signed by the President.
It only redistributes money to those who pay no effective federal income taxes and then receive an actual check from the IRS due to the child credits. I oppose anyone receiving a “refund” that paid nothing to begin with.
Outside of that, it’s not redistribution.
i'm referring to the Trump Tax Cuts insofar as they - unlike the Bush Tax Cuts - are nonrefundable, i.e. parents no longer get free money through the child tax credit / EITC.
(Childless taxpayers NEVER got free money from tax credits, as EITC is designed to never give childless taxpayers more than they paid in.)
So if you keep decreasing the effective tax rate of parents at a rate greater than you decrease the effective tax rate on childless adults, it's not redistributive?
If a parent with $N income pays an effective tax rate of, say, 5% and a single filer with $N income pays an effective tax rate of 10%, that's not redistributive?
Letting people keep their money is redistribution?
NO if everyone's taxes is cut at the same rate.
YES if the different groups get different rate reductions.
NO if you cut everyone's taxes from, say, 20% to 10%.
YES, if you cut group A's taxes from 20% to 12% and cut group B's taxes from 20% to 8%.
Get it? What do you say to group A?
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.
