Tax Cuts

[MidasKnight]

Originally posted by: ciba

Much like the moronic Bush tax cut put into effect in 2001 to make $$$ for his rich conservative buddies

This was a quote from another thread. I see one fundamental flaw in it. It presupposes that tax dollars belong to the government and cutting taxes is the government doing a citizen a favor.

I think of tax cuts as allowing a citizen to keep what he rightfully earned.

I agree with you. However we don't need this national debt to be so high and even out of control. That will eventually hurt our abilities to keep the economy strong. I'd like to read what President Bush's plan is ( if re-elected ) on turning this debt around.

 

[GoodToGo]

Originally posted by: irwincur

This is not a universal thing though - if the consumer confidence level is down, gixing tax rebates is not as efficent as spending it for goverment programs (people will save the money rather than spend it).

BullS---. Learn economics, the government is not nearly as efficient at spending as people and businesses are. For every dollar spent at the government level (or kept) there is almost a 50% loss rate. I highly doubt 50% of the people would ever choose to save 100% of their tax rebates. Furthermore, businesses are even better then people, as they both spend money, and allow it to be recycled in the private sector many times over.

Lets see, most of the people would not save that much on this tax cut. Only very rich people would benefit out of this. I am a college student and my tax increased by a meagre $100. WTF will I do with that? If the government had kept it, they could have funded other students or used it for some other program. What I am trying to say that instead of 1 million people trying to spend $100, the government could have used the entire lump sum of $100 miliion to do something. Also this money comes out of the social security fund, which is a resource that should be left alone as much as possible.