Trickle-Down Economics

[MadMan1978]

Give tax breaks to people who don't pay taxes? Yup, that is a sure-fire way to fix the economy. People who are taking out of the system but have never put anything in are the whole reason the system is broken.

Trickle-up economics doesn't work either.

A $500 tax gift* to the poor will last one trip to the mall and WalMart. People who are struggling to make ends meet do not save or invest. Any Federal tax gift will be spent within days and serve zero purpose and guess who will have the money then...

*it isn't a cut or a rebate when they don't pay anything into the tax system. You can't get a rebate or a cut on zero dollars.

well since they dont save or invest it....they dont deserve it?
what?????

[pghin08]

well since they dont save or invest it....they dont deserve it?
what?????

I think the point in all of this though is that it's hard to argue the fairness of the tax code if one person is getting something that another one doesn't. No matter if it's a $500 tax credit to someone below the poverty line or a low capital gains tax. If everyone gets taxed at the same rate, then you can't argue a lack of fairness either way.

[MadMan1978]

I think the point in all of this though is that it's hard to argue the fairness of the tax code if one person is getting something that another one doesn't. No matter if it's a $500 tax credit to someone below the poverty line or a low capital gains tax. If everyone gets taxed at the same rate, then you can't argue a lack of fairness either way.

You surely can....

[pghin08]

You surely can....

How? If someone who makes $10 million a year pays a 20% tax, and someone who makes $10K a year pays a 20% tax, it's STILL the same 20% tax.

[MadMan1978]

How? If someone who makes $10 million a year pays a 20% tax, and someone who makes $10K a year pays a 20% tax, it's STILL the same 20% tax.

Only by accounting standards....

In fact all a flat tax will do is raise the taxes OF MILLIONS AND MILLIONS of people working in this country....For me that tax burden is not one I can afford....where presently if my income were 10K I i am paying what 2% is that....raise my taxes 200 to 2000? while you give a person who can afford the tax bill a huge cut nearly 50%????

You might think they are fair now but wait for your tax bill to come....

Not just the federal tax but all those state and local taxes...

[pghin08]

Only by accounting standards....

In fact all a flat tax will do is raise the taxes OF MILLIONS AND MILLIONS of people working in this country....For me that tax burden is not one I can afford....where presently if my income were 10K I i am paying what 2% is that....raise my taxes 200 to 2000? while you give a person who can afford the tax bill a huge cut nearly 50%????

You might think they are fair now but wait for your tax bill to come....

Not just the federal tax but all those state and local taxes...

I don't like paying taxes, nobody does. But that fact is that we're all in this together as Americans. We all do what we can for a country that affords us the opportunity of upward mobility. I just want to know that Warren Buffett is paying the same share of his income to the Feds as I am. No more, no less. I don't need to be cut any favors. I'll do my best to live within the means I've created for myself.

[duane1969]

well since they dont save or invest it....they dont deserve it?
what?????

That is correct. If they did not pay it in then they do not get it out. If they pay in $800 in taxes then they do not get a full $800 tax refund + a $500 child tax credit (gift) per child + earned income credit (gift) + a rebate (gift) on their childcare costs adding up to a "rebate" check of $2000-$3000.

What a great deal! pay in $800, get out several thousand? Who wouldn't want that deal?

And people wonder why the system isn't working.

Here's an idea:
Get the government's spending under control and completely eliminate the income tax for everyone.

Eliminate? Never happen. Even in a Utopian society there must be some form of monetary support if there is to be an organized government.

" A $500 tax gift* to the poor will last one trip to the mall and WalMart. "

This is more because people/families live way beyond their means. If people go their spending under control it would help immensely.

Who is going to tell them to do it?...or how to do it? The government??!! If there is one thing that Obama should avoid at all costs it is looking into a camera and telling the American people that they need to be fiscally responsible. LOL

[duane1969]

i don't like paying taxes, nobody does. But that fact is that we're all in this together as americans. We all do what we can for a country that affords us the opportunity of upward mobility. I just want to know that warren buffett is paying the same share of his income to the feds as i am. No more, no less. I don't need to be cut any favors. I'll do my best to live within the means i've created for myself.

+1

[MadMan1978]

Well from a person who well remembers the trickle down...

It was a JOKE! Just another Conservative means for the RICH to get tax cuts! More tax cuts were down under Reagan for the rich any ANY OTHER class of people and that includes all the business cuts... it was called VOO DOO Economics for a reason. as with all other past presidents they take credit for something that they REALLY did not have anything to do with..all expect for maybe FDR... all the rest were either victims for a poor economy or the hero of a great one...

[tutall]

Yes Duane it is called the MIDDLE CLASS!
I grew up i it and live with in today...although I am falling below that now
....

Welcome to America... There are poor people, there are rich people, there are rich people who used to be poor, and there are poor people who used to be rich. Honestly if you want to make more money or have more things you only have one person to look at.