Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Who is proud of Mitch McConnell and the Republicans' history of tax cuts to the rich?
Reagan lowered tax rates for the highest income bracket from about 70% to under 35%. Republicans didn't vote for Clinton's small increase on the top income bracket. George W. Bush lowered taxes on high income earners and especially the estate tax. This allowed children born with a silver spoon to maintain their millions while the average person experienced a decline in wealth.
14 Answers
- Tommy LLv 67 years ago
That's funny because under Regan (and under Coolidge who had similer tax solutions) the income for middle class americans who worked rose a lot (Coolidges more then any time in USA history) and there buying power increased. Over taxing the rich does not make a poor man more wealthy just because you brought the wealthy down. Instead it make it easier for a rich man to stay rich, you can't tax a business or a man on what he already has (that would be confiscation) only what he is currently earning. So Walmart can't be taxed on what it has already earned, but any new compeititor that might be the least bit successful will get hit by the higher tax burdens and unable to get the infrastructure walmart has set up. In the end raising income tax and business tax to be punative just doesn't work. History has shown that during the great depression.
- Anonymous7 years ago
Whatever has happened with taxes, on the evil richies or on the poor McDonald's worker, government just keeps on growing, and growing, and growing. So what exactly are you complaining about?
Is it that this bloated government isn't giving you what you want? If so, vote in even more Democrats, and maybe something will change in your favor. But I doubt it, as the bills for 70 years of the ultimately unkeepable promises made by Democrats are coming due, and you WILL be paying your fair share.
Your Democrats will see to it, because they don't care who you are when they come for the money. The money they have to have. To help you. Yeah, it all makes perfect sense. Or something. Let me know if you get it figured out, and especially give me a shout if you ever get them to spit out what you think they should be giving you.
- smsmith500Lv 77 years ago
Funny how the tax cuts benefit everyone that works for a living. Is that the liberal's definition of the "rich", anyone with a job in the private sector?
- Victor MeldrewLv 77 years ago
They will tout how it all created economic growth while ignoring that the Bush and Reagan tax cuts were in place during the high unemployment of the last 6 years apparently causing that too.A careful examination of the pesky facts in the case show tax cuts for the rich actually lead to fewer jobs. I do not believe that to be true either. I believe it has no effect and it is just a coincidence that lowering tax rates on the wealthy has always lead to fewer jobs, but I could be wrong.
This is very counterintuitive too. Generally all tax cuts are passed while we are in a recession. So you would expect job growth to follow immediately since the business cycle dictates that when you are in a recession the next thing that will happen is growt.
- How do you think about the answers? You can sign in to vote the answer.
- ?Lv 77 years ago
I'm proud of the taxes I've saved because I've never been offered a job by a poor man.
- Anonymous7 years ago
The "rich" haven't got a tax cut for over 10 years and when they did the middle class got an even bigger one at the same time.
- Anonymous7 years ago
Each instance of broad-based income tax reductions in the twentieth century spurred economic growth. Unfortunately, it has been more or less impossible ever to control government growth.
- Anonymous7 years ago
Low income earners pay no taxes. How much lower do you want? So, for that matter, what are you upset about? The people for whom you feign concern are not affected if taxes are raised or lowered. Why do you even care, other than out of some sort of jealous, get back at the man, attitude.
- Tylertxanreborn2Lv 67 years ago
the average person has experienced a decline in wealth because barrack Obama is idealouge incompetent boob.