Originally posted by: josphII
that is just absurd. the richest 10% pay like 90% of the taxes, so how does a tax cut, where the largest % tax cut is for the poorest americans, translate into taking your money and giving it to the rich?
[Edited for Platinum]
Exactly.....let me elaborate with a simple illustration for the kiddies who might not understand:
Democrats don't think about the logic behind tax cuts. Let's say the govt collects $10 mil in taxes this year (simplified for math's sake). And the wealthy paid 40% of their income, which comes to $8 mil. And the middle and lower class paid 10%-30% of their income, which made up the other $2 mil. Now, the US decides to have a 50% tax cut, or $5 mil. Democrats say that the lower and middle class should get all $5 mil, even though they only paid $2 mil. And even if we gave the $2 mil back to the poor, and $3 mil to the rich, why should the poor not have to pay ANY taxes? Republicans say you have to distribute it fairly, with $4 mil going back to the rich (50% of what they paid), and $1 mil going to the poor (50% of what they paid).
Democrats don't believe in the "trickle down" theory either. They say giving tax cuts to the weathly and corporations won't create more jobs. Well, a friend of mine works for a very large company that has facilities in a few states, including Washington. Washington just imposed a huge export tax, which creates a new $100 million/yr expense for the company. The company is currently trying to lobby state officials to have the tax removed or lowered. Critics will say that Washington should NOT give another large corporation more tax breaks. However, if they don't, this company is going to pull out of Washington altogether, and do business in a state without such high taxes. So the state of Washington will be to blame for a huge loss of jobs. Now do you see how tax breaks for corporations can help the economy?
