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$500 tax free is quite a lot of money to a low income person. That's nearly two weeks of work at minimum wage; probably a bit more than that after factoring in
by mywittyname 6y ago
$500 tax free is quite a lot of money to a low income person. That's nearly two weeks of work at minimum wage; probably a bit more than that after factoring in taxes.
- bourgwaletariat 6y agoIt's not a lot of money. It's $1.8 Trillion a year if we gave it to every American. The GDP of the USA is $21 Trillion, so we are talking about 10% of our GDP going to eliminate poverty. Remember, in 2008, we gave about $17 Trillion to the banks.
- mywittyname 6y agoIt's a lot of money to a poor person. The fact that it's also not a lot of money to the economy in general just amplifies how little is needed to make a big difference to a lot of people.
- bourgwaletariat 6y agoI agree. I think the $500 tax savings home owners get makes not a lot of difference in their lives and simultaneously, they'll believe they earned it, while scoffing at the idea of giving free money to someone who has none. We're not very ... self-aware as a society.