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Originally posted by Timber Loftis:
[QB] Elric, you misunderstand. If your tax burden decreases but spending doesn't, you may keep the $$ in your pocket this year but Uncle Sam has taken out a loan in your name and you will pay more $$ in a future year. Thus, you really were not allowed to keep the money at all. Don't buy the illusion proferred by the gov-mint.
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TL, the beauty of any tax rollback, is that it keeps people aware of the tax system in the first place. Increasing taxes is a dirty word in politics at this point, with the general public. However, spending is not yet to the same level. I fully understand the point conveyed here, but question the ability of any politician to sell us all on a bill of goods where we need huge tax increases.
I also understand the rob Peter to pay Paul mentality. Hell, people our age are pretty much "effed" when the question of funding Social Security for the Baby Boomers is seriously looked at. I hold no illusions about what our say is going to be, when they will outnumber us in the polling booths to such an extent. If there is anything left by the time the Baby Boom generation is finished, I will personally be astonished.
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Someone who makes $20 K does pay taxes, probably about $3K worth. Now that $3K means much more to them than $5K does to someone making $50K. Moreover, the real unfairness is evident when you look at the following scenario:
Family A: Makes $27K/yr, has 2 kids, gets $2K back in taxes.
Family B: Makes $26K/yr, has 2 kids, gets $1200 back in taxes.
You have given the family that makes $1K more $800 more dollars. Since that family only paid $150 more in taxes, you've given them an unfair windfall. I'm not all for taxes, but I am all for a fair tax system if you are going to have taxes in the first instance.
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I agree the "cut-off" levels are rather interesting to say the least. How they reached the individual scales is anyones guess. This is precisely the type of bug-a-boo that occurs though, when people, in their divine wisdom, added income taxes to the fricking bill of rights. Yet another reason to not tinker with the initial premises IMO (from the other thread).
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Moreover, I can't morally live with myself if I allow you guys to berate those who likely work just as hard as we do and just sadly happen to be less fortunate monetarily.
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TIME OUT! Berate? Hardly! I am not berating anyone for what they do or what they earn. IMO, that is entirely up to the individual and the choices/repurcussions *of* their choices. Whether they are fantastically successful or dismal failures.
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While they may not pay as much tax as me, I'm not going to adopts some superiority complex. Especially since on a % per dollar basis, they will miss the money much more.
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Good on you then , that you have no superiority complex. Join the club!