Quote:
Originally posted by geep
Did I miss something? Do you think people making $40k/yr are upper income? Lower income?
Truth is you can't give people a tax break who aren't paying taxes. If you plan to "redistribute" income at other families expense, then you are simply beefing up a system already in place. People who invest ARE the recipients of the blanket cuts- they are the people who will add jobs and create new businesses, which is the only way unemployment will drop. If the goverment just hands out money, it will not create a single job.
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Perhaps I should put it in SIMPLE terms. Even conceding your point that 2 wage earners pulling 40K comprises the middle class workers I was referring to:
If a family doesn't pay any taxes in April then reducing their tax bracket won't reduce their tax obligation--it simply allows them to keep more wages from their check that they will otherwise receive at the end of the tax year.
Are you listening? I didn't say reduce their tax obligation or give them more credit or return payments they never made. Reducing one's bracket, in the case of a family that won't end up paying taxes, allows them more liquid income to spend. For the other family, the 95K, regardless of what class level you think they are part of, this _would_ reduce their tax obligation. WOW, they would have more liquid income as well.
The result would be that the lower classes would spend their liquid income while the upper classes invest domestically. Odd how that works...