Some people have criticized Pres Bush for his proposed tax cuts, saying that it's for the rich. Others have replied that the rich pay most of the taxes anyway. I'll add my own experience here.
I make just under $50,000 a year and have 5 dependents. With the dependent tax credit, I got back ALL withheld fed tax, and the govt paid me an extra $35! The dependent tax credit is deducted from the taxes you owe- not deducted from your income prior to figuring taxes. A guy I work with has 9 kids. He had a small amount withheld and got thousands back which he never even had withheld. So it seems that someone making only $10,000 with a lot of kids would also get a big "refund."
It seems to me that the people saying that taxes on the poor should be reduced don't know what they are talking about.
Tax cuts for the rich?
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Yep, a lot of Democrats will get on tv and say that the Bush plan benefits the rich. I guess they think that most other Democrats and hopefully some Republicans will just believe them without getting the facts straight. Honestly, I don't even know how they keep this debate alive.
It seems so simple...
![Rolling Eyes :roll:](./images/smilies/icon_rolleyes.gif)
It seems so simple...
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