Why do Republicans want to lower taxes ?

Question

for the rich ?

Republicans called repeatedly on Wednesday for elimination of the estate tax — which falls principally on the largest of estates — and reduction in the income tax on corporations.

nice try mercedes: the law isn't applicable to farm land.

Answer 1

No one likes paying taxes. But as Ben Franklin said there is nothing sure but death and taxes. The Republicans love to pander to people telling them they will reduce taxes. Unfortunately some are dumb enough to believe that doing so is usually for only the most wealthy among us and that there is rarely any net gain for the average person. Sure they can give you a one time $300, (whoopee) but is that doing any good today? The nation is in debt to our highest mountain peaks and rising, we are in a very unpopular war we can't afford, banks are laying people off. The so called trickle down has not trickled down. The big business just laugh and send jobs over seas. Then they keep that which is supposed to be trickling down to the poor peons at or near the bottom. The whole thing boils down to greed.

Answer 2

Republicans tend more toward the anarchy side of the spectrum (contrast with Democrats that are more socialist.) True conservatives believe that government should be as small as possible, and not interfere in free markets, capitalism etc. The estate tax was created in the dark ages where "primogeniture" was a concern, basically that farm land could get passed down generation to generation to the eldest son, and as families married people came to own huge portions of land which would never foreseeably be divided. Today the estate tax is charged on all estates over 1 million dollars. Usually the super rich are able to avoid the estate tax through loopholes anyways (establishing trusts, FLP's, and gifting before they die.) The people that usually get slammed with the estate tax are the middle class that don't have financial advisors. In todays modern time 1 million dollars is not enough for one person to retire on, so we aren't talking super rich. Also, the estate tax is not progressive... meaning a person with one million and one dollars is taxed at the same rate as a person with one billion dollars. As for corporations this is multi-faceted. For one, conservatives do not want to hinder free markets, so they would in theory think that cutting taxes would allow for more business a booming economy etc (i.e. a corporation with more money spends the money on something right? more employees, lowering unemployment? buying more stuff, supporting other industries?) Secondly, corporations are the only form of business in the US that are double taxed on income, a suck thing for the average american investing in stock because that is going to affect our bottom line. Partnerships with private investors on the otherhand are only taxed once.

Answer 3

Because poor people don't create jobs, rich people do. Corporations are being taxed to death, taking away good paying jobs from people who need them. That's why.
As far as the estate tax goes - that money has already been earned and taxed once, why should it be taxed again? Why should the government tax money every time it changes hands?

Oh, and Cait, it did too work. It fostered 20 years of the best economy this country has seen since WWII! Where were you?

In spite of the Clinton Administration's claims to the contrary, the economy didn't just start generating tremendous amounts of wealth because he won the election. It was because of the policies and procedures put into place during the Reagan and Bush I administrations.

Answer 4

It's called Liberal economics. Lower taxes, corporations have more money to invest, they build new factories or service facilities driven by greed, that makes jobs and those workers are taxed, creating more revenue than just skimming off a certain amount.
The only thing to throw a monkey wrench into the works is, Unions and a minimum wage and super regulation of industry and so, who would want to invest in such things and deal with all that crap? So, no investment, no jobs, no taxes collected. I hope your satisfied! Only a Dope would vote Democrat.

Answer 5

Hmmm. Lowering taxes has always netted an increase in the feds bank account. The estate tax is definitely something that should not be in effect for anyone. You work hard slave your life away make a small fortune and before you can hand it over to your heirs, the govt takes a LARGE chunk of money that you already paid tax on. This affects everyone that even thinks about being a little wealthy. Reducing income tax on businesses let them remain in THIS COUNTRY only offsetting the loss of labor costs by a small amount. While many large companies will not see enough of a gain to stay, many of the smaller corporations will.

Answer 6

Government receipts are at an all time high. I don't understand this Liberal mentality. They are more concerned with sounding great than doing the right thing. Every time taxes have been lowered in this country, sales tax receipts INCREASE. The problem with the current administration is that they have spent like drunken sailors.

The Dems love JFK, and when he cut taxes revenues skyrocketed.

Not one politician is saying the right thing.

Answer 7

Today's income tax policies are confiscatory, meaning the government simply confiscates your money.

If you have more money in your pocket, you will buy more. If you feel good about your income you will have confidence in the economy, and spend. That generates more tax revenue, not less.

There is no such thing as a corporate income tax because any tax on a corporation is passed onto it's customers - you - in price hikes. The Dem's like to act like they are punishing greedy capitalists by taxing those evil corporations that make everything you love, but each tax on them is a tax on you - even the oil companies.

One last comment. Taking money from a rich person does not and never will put money in your pocket. Punishing a rich person may sound fair, but it does nothing good for you.

Answer 8

If you think about it, this estate tax is really a re-tax, or a death tax. In life, the citizen earned money, paid income tax, bought an estate with the money the government let him keep, taxed the purchase of the estate, and obtained annual property taxes from him as well. Now, that sounds to me like that person paid their share of taxes for the estate. When they die, why should the government be entiteled to another 38% of the property? How about letting the citizen leave it to loved ones?

Answer 9

Really..... take a look at what you pay for basic services across the board, now do a google on a cost of living increase between 2000 and 2005 ( latest available till after the first of the year)...
who has raised Tax's? What is TAX?

Answer 10

Republicans want to lower taxes for all.

High taxes=No one spends=bad economy

Low taxes=More $$ for you=more Christmas spending=good economy

It's a no brainer. Why do some have a hard time with this basic math concept?