Inevitable, on a daily basis, several Y!A users are bemoaning tax cuts for the rich and crying "what about the poor?!" So....
Lower income people, especially those with children, frequently get back more than they pay in. If you take deductions and tax credits into account, a single mother could pay $1,000 in federal income tax withholdings throughout the year, but get a $3,000+ refund. $2,000+ more than she even paid in. Likewise, a college student using education tax credits could also get more refunded than paid in. Etc. Etc.
America's biggest tax consumers are also America's worst tax contributors.
So the question is, how do you cut taxes for a group of people that have NO effective tax rate? How do you cut taxes for a group of people that pay NO taxes and in fact profit from income tax every year?
2007-10-05
02:05:06
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9 answers
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asked by
Chad
5
in
Politics