Anonymous
Favorite Answer
You would think so.
Which is why, technically, it's INCOME REDISTRIBUTION and not a "tax cut"....
felica
I've been kind of surprised too that nobody asks that. He's apparently talking about doing something like increasing EIC to give the people who don't pay taxes more government money. In some quarters this is called redistribution of wealth rather than a tax cut. He has said 95% of working families, not 95% of taxpayers. In any case, and this is the same for either candidate's "plans", a president can't give anyone one cent, it's Congress that can change tax law, not the president.
Country First
ABSOLUTELY!
Below is a great analogy that someone shared on another site...I believe it was from gretawire.com.
Today on my way to lunch I passed a homeless guy with a sign that read ‘Vote Obama, I need the money.’ I laughed.
Once in the restaurant my server had on an Obama ‘08 tie, again I laughed as he had given away his political preference–just imagine the coincidence.
When the bill came I decided not to tip the server and explained to him that I was exploring the Obama redistribution of wealth concept. He stood there in disbelief while I told him that I was going to redistribute his tip to someone who I deemed more in need–the homeless guy outside. The server angrily stormed from my sight.
I went outside, gave the homeless guy $10 and told him to thank the server inside as I’ve decided he could use the money more. The homeless guy was grateful.
At the end of my rather unscientific redistribution experiment I realized the homeless guy was grateful for the money he did not earn, but the waiter was pretty angry that I gave away the money he did earn even though the actual recipient needed money more.
I guess redistribution of wealth is an easier thing to swallow in concept than in practical application.
Please also visit the Wall Street Journal website. They have a great article that analyzes the Junior Senator's tax plan (called Obama's 95% Illusion).
mindcandy4U
Many of you are displaying gross ignorance regarding welfare and taxes...the people whining about tax cuts for the middle class should be whining about the corporations that don't pay taxes. They are whining so much because to them a corporation is not the neighbor or person with a face that they can judge. These people need to feel superior to somebody so the possibility of equality infuriates them.
Believe in Possibilities
Do you think that is the only tax? Have you ever heard of payroll tax? If the goal is to improve and grow the economy, that requires consumers with money to spend, so cutting low to middle income folks taxes (some of which might only pay the payroll tax) is a smart way to accomplish that. Trickle-down, or supply-side, economics is a scam and has been proved time and again not to work.