He is going to introduce a bill that does exactly that. Is it a good idea or a bad idea? I think it is a very bad idea! What about you?
2007-01-03 15:24:33 · 5 answers · asked by Anonymous in News & Events ➔ Current Events
Unless you make more than say, 500,000 or more, the reduction in tax is minimal.
Look at it this way: Bush is a Republican; their only interest is to help the extremely rich (top 5% of the population) on the backs of the middle class. Thank goodness, this congress will never pass it
2007-01-03 15:34:24 · answer #1 · answered by Dance P 1 · 1⤊ 2⤋
It is a very good idea. If you reduce the taxes to invest in this country, which is what his tax cuts do, then more people will invest in this country. That will create more jobs. More jobs will create greater tax revenue and less unemployment. Less unemployment will reduce expendetures. So you get savings and increased tax revenue with the tax cuts which Bush proposes to be made perminant. Think about it. If I take my money and invest in US companies at normal tax rates, I might as well just work more overtime for the same revenue instead of trust the stock market. But, if I invest in US companies at a lower tax rate, this offsets some market downturn (slight) and increases the money in my pocket when the stocks do make money. By me investing in the stock market, I am infact loaning my money to the companies that I invest in. Those companies will take that money and invest in themselves (retooling , expanding ect) and create more jobs. Otherwise, the companies have to go to the banks to get a loan which has to be paid back plus interest. Incidently, I make $42,000 per year and am an Independant, NOT a Republican.
2007-01-03 15:38:51 · answer #2 · answered by daddyspanksalot 5 · 1⤊ 1⤋
Despite what the critics say about things that otherwise shouldn't work in theory, in real life these tax cuts must be working.
How else would you explain the economy? ...which you've got to admit ain't really so bad.
Sure there are folks that say it's been nothing but gloom and doom but based on the market continuing to hit all time highs, Bush's tax cuts must be working to some degree.
What you need to do is remember how we are today and compare this to what we will have 2 years from now, now that the new Dems have promised to raise taxes for all.
You then just might be able to answer your own question.
2007-01-04 12:31:10 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Obama made the Bush tax decrease everlasting? Ha, ha. Yeah surprising. On what planet? it truly is why human beings around united statesa. are turning out to be smaller paychecks and could now have a lots harder time paying their costs.
2016-10-19 10:48:13 · answer #4 · answered by Anonymous · 0⤊ 0⤋
YES! I for one would love my tax cut permanent. I am middle class and make under 60k a year. This tax cut has helped my wife and myself greatly.
2007-01-03 15:53:52 · answer #5 · answered by fatboysdaddy 7 · 1⤊ 1⤋