I suppose I'm more inclined to the liberal thought of giving most of the tax cuts to those that need it the most.
Also, in order for a tax cut to work, it requires a cut in spending, not a raise. In general, if we could cut a large portion of the government out and streamline the rest, I'd be completely in favor of a huge across-the-board tax decrease.
Those who need a "tax cut" most don't pay any taxes. What you're talking about is income redistribution, not a tax cut.
Everyone who has a legal job in this country pays taxes. Bush could have reduced regressive taxes (such as the payroll tax) and helped out everyone, but instead chose to pass tax cuts that mostly only helped the extremely wealthy.
Bush's tax cuts are the primary reason why I think he is a terrible president. In my mind, they are the worst pieces of legislation passed in my lifetime.
Typicial Democratic nonsense. I am going to assume that you are simply buying the party line here. The main point of the Bush tax plan is that he lowered rates across the board. He replaced the tax rates of 15, 28, 31, 36, and 39.6 percent with a simplified rate structure of 10, 15, 25, and 33 percent.
So that means that someone in the lowest tax bracket who was paying 15 percent before the Bush tax cuts is now paying 10 percent. How does that only help the wealthy?
Since you brought it up....
The lowest tax bracket, the 15%, is the only income tax bracket that was not reduced under Bush's tax cut. Most families in this country don't pay income taxes above this bracket. The Bush tax cut did create a 10% bracket for the first $7,000 in income, but this is effectively only a 1% reduction in the 15% bracket, vs. a 3% reduction in the 28% bracket, vs. reductions of 6-8% in the highest brackets.
This doesn't even include the huge tax cuts that truly only benefit the wealthy like the elimination of the estate tax and the slashing of taxes on stock dividends.
Instead of giving tax cuts to the wealthy, Bush could have truly given a tax cut to all taxpayers by reducing the payroll tax. This tax is especially odious because the poor pay a much higher percentage of their income than the rich....you stop paying the tax entirely after $80,000 or so in income. 75% of American families pay more in payroll taxes than income tax, so if Bush really wanted to help the average taxpayer, this is what he would have cut.
