Quote:
Originally Posted by stcroixman
33% is a nice way to spin it. Fact is the 10% bracket ends around 20K of taxable income (after deductions). So it's a 5% savings on 20K = $1,000.
Lets' compare that to the decrease in top bracket from 39.6% to 35% on someone with taxable income(after deductions) of 250K per year. So it's a 3.6% savings on 250K =$9,000.
Now tell me who benefits from this and why is someone with 20k of taxable income paying any tax?
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So are you saying that the person with taxable income of 250K should not only get no tax break, but should also pay more to pick up the loss of revenue from those with 20K taxable income? Do you give no credence to the idea that being exempt from taxation relieves you from caring about government spending or the burden it places on those that do pay? Do you really want a society where the vast majority do not have to pay for government "services" and have the power to vote for how much the small minority that drive the economy pay for those services. And do you want a government, empowered by the vast non-paying majority, that can decide what and how many freebies you get?