[rextorres]

Originally posted by Imperator Fyron:
Most of the time when people criticize tax cuts, they use half-truths. They will cite the literal percentages of money going back in the cut and say that most goes to the wealthy (at least, more wealthy than the "poor"). This is of course true, but it is irrelevant. Often times, the percent of tax cut to the wealthy is much lower than that to the middle classes. And the lower classes often pay little to no taxes to begin with, due to low income tax brackets combined with various reductions (children, mortgages, etc.). So, when tax cuts are given, most of the money tends to go to the upper middle class and the upper classes. But, this only makes sense, because most of the money came from them in the first palce, and it is a slanted figure anyways. What is more important than raw cash values is the effective percent that the taxes paid goes down. It is most of the time the lowest for the wealthy. Not all tax cut proposals are the same, of course. But, most follow the same basic plan, as there are only so many ways you can do a tax cut.

Again I'll reiterate the payroll tax is an income tax by a different name. So not only did those making over $500,000 get a bigger tax cut in raw dollars they got a bigger tax in percentage of the total tax cut. A fair tax cut would have lowered the payroll tax as well - not that anyone needed a tax cut to begin with.

[ September 16, 2003, 21:29: Message edited by: rextorres ]