If taxes were lowered; how much more money would this put in a person's pocket per year?

Question

On average; perhaps per tax bracket or something, does this work out to cover expenses that the Government is trying to manage under new legislation?

Answer 1

Why is it that people object to direct taxation, but don't seem to mind forking out on things like sales taxes, VAT, state taxes, etc. when they buy things. When re-designing an accounting software package I could not believe how many taxes are having to be catered for in USA. If I was you, I would campaign for one tax across the board then maybe two levels on sales and purchases. Of course your governments, state and federal will not go for that, would force them to be careful with money.

Answer 2

When tax rates are lowered the federal government always sees it's collection of taxes go up. It seems counter-intuitive but has been shown to work every time it's done. Truman, JFK, Reagan, and now Bush have all reduced the marginal rates of federal income tax rates and have seen the dollars collected and sent to the US treasury increase. Liberals always deny this, despite the evidence before their eyes, and a health segment of the public, being victims of the government school system and corrupt main stream media, go along with that misconception. This works because under the US tax code we tax transaction not wealth. Lower the cost of transaction (moving money) and it will move more often

Answer 3

It depends on the percentage reduction in tax rate, a person's taxable income, and total taxes paid after the change.
It would be different for just about everyone who pays taxes.