Should Congress have voted for the tax cut?

[°Leprechaun]

I vote 'no' of course. These politicians disgust me.

[A18]

Yes. People who think tax cuts are disgusting disgust me.

[A18]

The national debt is not bad for the economy

[The Duke]

No on the 2003 cut, yes on the 2001 cut.

[A18]

The should have abolished the income tax, actually

[12th Doctor]

I vote 'no' of course. These politicians disgust me.

Why?  All these cuts were targeted at the middle & lower-classes.

[A18]

Except the debt is to ourselves. Thus, interest goes up, gets payed back into the economy.

The debt is not bad. Thinking it is is foolish.

[© tweed]

The should have abolished the income tax, actually

yeah, that would work well.  lol.

I would have voted nay.

[TeePee4Prez]

I would vote yeah for SOME of the 2001 cuts.  Strong nay on the 2003 cuts.   Specifically the marriage penalty, the child credit and the new 10% rate along with the 15% threshold raised I would vote yeah.  Both cuts have too many loopholes though that favor the rich.  The 2003 cuts were horrible.

[The Duke]

Except the debt is to ourselves. Thus, interest goes up, gets payed back into the economy.

The debt is not bad. Thinking it is is foolish.

Yes it is bad. The interest on it is money we could be spending on better things. It is too high. It is because of the interest that are taxes are as high as they are to begin with. Using the logic that tax cuts are a good thing would lead one to conclude that we could eliminate taxes altogether.

And usuing your logic, we should have a 100% income tax.

Just think of all we could do with the money, right?

[A18]

I would vote yeah for SOME of the 2001 cuts.  Strong nay on the 2003 cuts.   Specifically the marriage penalty, the child credit and the new 10% rate along with the 15% threshold raised I would vote yeah.  Both cuts have too many loopholes though that favor the rich.  The 2003 cuts were horrible.

The money goes back into the private industry. And that's when repaid.

Tax cuts are not spending.

[TeePee4Prez]

Except the debt is to ourselves. Thus, interest goes up, gets payed back into the economy.

The debt is not bad. Thinking it is is foolish.

Yes it is bad. The interest on it is money we could be spending on better things. It is too high. It is because of the interest that are taxes are as high as they are to begin with. Using the logic that tax cuts are a good thing would lead one to conclude that we could eliminate taxes altogether.

And usuing your logic, we should have a 100% income tax.

Just think of all we could do with the money, right?

100% income tax would be horrible.  The Laffer Curve basically says that at 100% there would be no incentive to work, while at 0% there would be no government.  Personally, I always was, always will be a fan of a progressive tax structure.  I feel a tax strucutre starting at 7% and going up to 42% in increments of 5%is a good idea.  The 42% would only be on the superwealthy.  That way no one would be paying mroe than 50% in federal taxes.  The pre-Reagan system was just too stifling, but Reagan went WAY too far.

[A18]

The income tax is not a tax on wealth. It's a tax on income.

[Democratic Hawk]

I support tax cuts for the middle-income and lower-income folk.

Dave