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Azred · 05-29-2003, 05:48 PM

You will never "gut" or "kill" the middle class--there are too many of them and a majority of the economy is generated by the middle class.

Most people would probably rather pay a flat rate for anything and everything, much like a sales tax or VAT. Even at 15%, that is still considerably less than the 25% (or higher) that many people pay in income tax (on top of the sales tax that already exists).

A tax cut that puts money into the pocket of middle-class people is good, because normally middle-class people have a higher propensity to spend when they get some extra money. Of course, the Federal government must cut spending or the tax cut will only put money into the lower levels of government (via sales tax). Besides, without lowering interest rates to stimulate business spending/investing, a tax cut to citizens will only result in a brief spurt of spending, but it won't do enough to jump-start corporate expansion and hiring. (needless to say, I do disagree with the Bush Administration on this point)

Joan Veon...a "certified financial planner" and President of her own investment firm. [img]graemlins/1ponder.gif[/img] I highly doubt she is a "turnip" in the middle class, based on my own personal experiences with financial planners (yes, I am/have been one myself). If she is so vehemently against the tax cut, then she can send her rebate to me. [img]graemlins/petard.gif[/img]

05-29-2003, 05:48 PM	#15
Azred Drow Priestess Join Date: March 13, 2001 Location: a hidden sanctorum high above the metroplex Age: 55 Posts: 4,037	You will never "gut" or "kill" the middle class--there are too many of them and a majority of the economy is generated by the middle class. Most people would probably rather pay a flat rate for anything and everything, much like a sales tax or VAT. Even at 15%, that is still considerably less than the 25% (or higher) that many people pay in income tax (on top of the sales tax that already exists). A tax cut that puts money into the pocket of middle-class people is good, because normally middle-class people have a higher propensity to spend when they get some extra money. Of course, the Federal government must cut spending or the tax cut will only put money into the lower levels of government (via sales tax). Besides, without lowering interest rates to stimulate business spending/investing, a tax cut to citizens will only result in a brief spurt of spending, but it won't do enough to jump-start corporate expansion and hiring. (needless to say, I do disagree with the Bush Administration on this point) Joan Veon...a "certified financial planner" and President of her own investment firm. [img]graemlins/1ponder.gif[/img] I highly doubt she is a "turnip" in the middle class, based on my own personal experiences with financial planners (yes, I am/have been one myself). If she is so vehemently against the tax cut, then she can send her rebate to me. [img]graemlins/petard.gif[/img] __________________ Everything may be explained by a conspiracy theory. All conspiracy theories are true. No matter how thinly you slice it, it's still bologna.