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Originally posted by KLMulder
I was in the lowest tax bracket and guess what, I paid NO Taxes. that's right NO TAX. Why? Because the government said I did not make enough to pay, if fact they gave me more back than I paid in. THIS IS JUST PLAIN WRONG!!!
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I assume you gave it back then?
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Then you get to listen to the Dem's cry about the tax cuts and bring out there tired old war horse class war fare to try to scare people into believing the Rep's are screwing them and only giving tax cuts to the rich.
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KL, the vast majority of tax revenue reduction is returned to the top few percent of wage earners. The benefit seen by the middle class is relatively minor, while the overall cost of living has gone up tremendously.
In general I have no problem with the rich getting more back as they do pay the brunt of the tax burden. But the problem is that the current economic environment doesn't support continued tax cuts for the rich.
Our beloved country can't support the current budget, Bush's fiscal policy is creating a massive debt load that isn't sustainable. When the baby boomers start to retire en masse in 4 years it's going to be like an atom bomb was dropped on our economy. Bush is ignoring the situation entirely.
The idea that tax cuts are always good because they stimulate the economy is the stuff of cheesy high-school Republican club debates.
In the 1990 Gulf war we paid 5% of the bill, today we are fronting 90%, over 200 Billion dollars so far. We are looking at a 450 Billion dollar defecit this year alone with over 7 Trillion dollars of debt. Some economists forcast the debt load is really 10 times higher when you factor in age distribution and the problem looming with Social Security and Medicare in a few years.
So while Bush continues to give even deeper tax cuts, against the advice of the Treasury Secretary (who they fired) and even against the wishes of Repubican Senators like John McCain, we are forced to borrow money to equip our troops.
You guys need to get beyond Reaganomics 101 and take a look at the real problems facing this country. Realize that Bush is doing his best to keep that blanket pulled tightly over your head.
-spence