Hmm! Let's see-the other 5%. Aren't they paying over 50% of all personal income tax collected? So I guess a little more won't hurt.
Since nearly 50% of "taxpayers" don't pay any taxes and many get EIC, welfare by any other name, they have no interest in tax cuts, but do have an interest in seeing taxes raised on the other 50%. So who do you think they are going to vote for?
It was a mistake, fostered by both parties, to increase the number of people who don't have to pay taxes, thus creating an incentive for these people to support whoever is going to tax the other guy.
IMO, if you don't pay taxes, you don't get to vote.
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Tax Cuts for those that don't pay taxes????
I agree. I see too many who get refunds and no taxes paid. How can they reduce their taxes?
That has been the lie of one of the cadidates.
Unfortunately, those same people think they do pay taxes and are due more refunds.
Idiots, and voters, unfortunately.
If they want to really spur the economy, how about investment tax credits again? But this time make them for United States made products only. U S made vehicles, equipment, etc.Leave a comment:
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Tax Cuts
One of the candidates pledges a tax cut for 95% of taxpayers. Really sounds good.
For a family of four (with the children eligible for CTC), a typical wage-earner actually has no taxes until the family income exceeds $36K or thereabouts. Not sure of the exact demographics in rural Tennessee, but I'm sure there are at least 35-40% of households in my town whose income does not exceed this amount.
Can anyone tell me how 95% of taxpayers are going to get a tax reduction when they don't have any taxes to begin with?
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