What are your opinions of tax cuts for the rich?
Posted on 08 March 2009 by admin
I am asking for your opinions on tax cuts for the rich. Do you think it should end or not. My opinion is that I don't want anymore tax cuts for the rich because the US needs that money. They are so rich they can afford taxes. The poor and the middle class can't.
The rich pay the vast majority of taxes already. The poor pay none since they get all of their withholdings back and often even more because of the earned income credit and additional child tax credit, so they are actually negative tax payers.
How much do we need to punish people for trying hard, taking risks, and being successful?
I agree they should be gone. However, even with tax cuts, most of US money comes from the rich anyway. I can't crunch a number right now, but I know it's more than the poor and middle combined.
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The rich pay the vast majority of taxes already. The poor pay none since they get all of their withholdings back and often even more because of the earned income credit and additional child tax credit, so they are actually negative tax payers.
How much do we need to punish people for trying hard, taking risks, and being successful?
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http://www.ntu.org/main/page.php?PageID=6
I don't know alot about this so this may be a little ignorant of me, but this is my thought on the subject.
There are a couple different ways of looking at this. you are right that the US could use the money, but also the wealthy are the big spenders, more money for from means they spend more, that might not be a bad thing in this economy. Letting the wealthy keep more of their money will only help them to continue to buy their homes, and cars and other things the average american cant, thereby, helping the economy.
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I think the rich have enough tax breaks that they don't need cuts. They can afford accountants who can find the loopholes to save them taxes in the first place. My parents are multi-millionaires (it's their money, not mine), and they haven't paid a dime in taxes in years, just because of tax deductions.
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Who gets to define what "rich" is?
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