This is what people say who are truly ignorant of tax law, which is sad to say, most people.
FACT: In 2001, I got my refund and many other people received a refund check as well.
FACT: Bush did lower the tax rates, but it is not that simple. If you really take a look and understand what happened, there were many changes in the tax law that were really aimed at the rich. It was a tax cut disguised to target the very wealthy. Not too many people would know that and most would look on the surface and say "The Republicans lowered the tax rates." Its really clever how they do it, but they did it.
The most obvious one (there are many) is his lowering of the capital gains and dividends tax rates. Who is this really going to impact? A family of making $30,000, very little.
It will benefit people who are generating very large amounts of dividends and capital gains.
I only know this because I am an accountant in the industry. Ask a CPA, they'll explain it.
2007-08-14
05:23:43
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17 answers
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asked by
Anonymous
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Other - Politics & Government