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Tax cuts for the rich?

Posted: Sun Feb 09, 2003 7:14 pm
by coriolis
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.

Posted: Sun Feb 09, 2003 8:08 pm
by streetsoldier
My pension, Social Security disabliity and dependent's benefits, and stiudentmom's part-time on-campus job falls well below that sum, coriolis, yet we, too, are benefitting greatly from the Bush plan (where did y'all think that "shopping spree" came from?) :lol:

Posted: Mon Feb 10, 2003 1:31 am
by southerngale
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. :roll:

It seems so simple...

Posted: Mon Feb 10, 2003 6:05 am
by Rob-TheStormChaser
They should tax the hell outta the rich and transfer it to us middle class people who really work hard for a needed check week to week.