tax cuts for dummies
I have a question about taxes. When Obama says he will be giving tax breaks to 95% of Americans, what does this mean vis a vis the 5% (ultra-wealthy) that won't get tax breaks? Does this mean he is raising the PERCENTAGE of taxes that the ultra-rich will have to pay, and lowering the percentage (or maintaining it?) for those who aren't ultra wealthy?
And, why do rich people generally vote Republican vis a vis taxes, because Republicans take less of the rich people's money for taxes, or more? Or offer them tax deductions/shelters/loopholes that Democrats don't offer?
Basically what I am trying to find out is why the ultra rich vote republican, while the other 95% do not. On the issue of personal taxes.
Yes, I am confused.
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