If the GOVT only taxed you if you made over $40,000 a year or have $40,000 in assets? The people in poverty would keep every nickel they made. Saving wouldn't really be a problem for them anymore; they would be able to save all the money or spend it on their homes and rise out of poverty. And after 3 or 4 years, they would have enough in assets or savings to start being taxed by the GOVT again. BUT, now they would be out of "poverty" and could manage the cost of living in america a little easier now. America should help it's own people living here right? Even if you don't have the almighty dollar, you should be able to live your life the way you chose?
2006-11-29 14:00:58 · 3 answers · asked by Eric M 2 in Politics & Government ➔ Government
the number does not have to be exact $40,000. I just mean that not taxing the people that don't make a heck of alot will in a couple years bring their standard of living way up. Once they saved alot and bought things, those totals would be how much there worth. Then start taxing them once they got something under their belts. Giving people on the bottom a chance to come up to the top, you know?
2006-11-29 15:00:13 · update #1
I am for it if my first $40k is not taked either.
2006-11-29 14:10:01 · answer #1 · answered by Anonymous · 0⤊ 1⤋
No it doesn't make sense.
People don't save enough in general. People in poverty will spend every nickel to allow themselves to be as close to the "haves" as they can.
Besides, why $40K? That's a lot of tax free money.
2006-11-29 22:08:13 · answer #2 · answered by Shogun 3 · 1⤊ 0⤋
You said or $40,000 in assets I'm assuming your talking about some kind of wealth tax. $40,000 wouldn't be much of a retirement fund. How many years do you think you could live on a nest egg of $40,000.
NO it doesn't make sense.
2006-11-29 22:50:16 · answer #3 · answered by Roadkill 6 · 0⤊ 0⤋