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If any of that is true why did they bother lowering the rates last year?
by shereadsthenews 8y ago
If any of that is true why did they bother lowering the rates last year?
- tracker1 8y agoFor most families (who earn under $200k/year or so), the extra return and/or reduction in taxes actually spur spending, which drives growth. The top earners spend less, meaning less whole-economy growth. Personally, I don't think it's right to have more than 50% tax rate at any level, and beyond say $50k/year would say that a 20-30% tax all the way up without deductions would be better. Eliminate corporate taxes, limit corporate capital holdings requiring either reinvestment or divestment to shareholders (who are then taxed). Simplifying and automating the system better would work better for everyone involved. But confusion keeps Intuit/H&R Block and others in business.
- jandrese 8y agoBecause Donald Trump and his friends want to pay less in taxes and don't seem to care much about the health of the government or its citizens?