| Colonel |
10-11-2004 06:24 PM |
[quote="Low spark":676f0].... But for the most part the top 2% do not take their tax refunds and go out and buy things, or use it to help feed and educate thier children. They are not living paycheck to paycheck like so many in the middle class. I know to many people that have lost their jobs, that are either not working or are working for less pay. I totally agree with a middle class tax cut, because for the most part that money goes back into the economy and keep everyone working. [/quote:676f0]
I disagree. I would say that most folks, regardless of income, take the money that they have left after taxes and buy things. If they have more left after taxes they buy more. Even if they save more it helps fuel the economy by giving the banks greater resources to lend to the lower income folks, to small businesses for working captial etc. And, btw, I know a lot of people in the 2% you are talking about that live paycheck to paycheck. They are all in debt up to their butts trying to keep up with the Joneses and they spend every dime they make. (Keep in mind that the 2% figure includes all folks making $200,000 or more) They live in houses too expensive for their income (but the construction of that house employed a bunch of folks). They drive expensive cars (think job security for Detroit auto workers). And they go on vacations that they can't afford (think employment of hotel, airline, and travel related jobs). All tax cuts are good, regardless of what income group gets them. I wish we all had to write a check to the government instead of them taking it through payroll deduction. Then folks would realize how badly they are getting screwed.
[quote="Low spark":676f0]What good does any tax cuts reallydo for any one? When our present congress and administration make no attempt to control spending, except for social program for the poor/.[/quote:676f0]
Amen brother. At least the part about Washington not controlling spending. I think the problem is that ALL government programs have built in spending increases. (even social programs for the poor). The problem is that every year they go up X amount. So if they are scheduled for an 8% increase and the President or Congress wants to cut the increase back to 7% (still above the inflation rate) (these numbers are arbitrary and are for example purposes only) then everybody starts screaming that they are cutting programs and taking money away from hungry children! That's what chaps my butt. They are still getting 7% more than they did the year before!! I wish they would have a year when they say, "Every program regardless of what it is, defense, welfare, whatever, has to get by with exactly what they got last year...or even with 2% less". We could get rid of the deficit in no time. Heck my company has been cutting expenses every year since 1998, trying to stay competitive. (and trying to get in the black - the chemical industry has been hurting and losing money since '98-'99 and has just been making a comeback over the last year or two) I don't see why the government can't do the same thing.
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