Yes @Fishinnick, I was referring to these new cuts.
Thanks for your very considered replies.
Make no mistake, just like the Trump first term cuts are now to be made permanent, as the next election draws near, campaigning to make these new cuts permanent will step up … it’s a dishonest game they play.
Looking at your list of new tax cuts, I figure not many lower income workers will donate, have real estate loans, be planning for scholarships, qualify for child deductions, own a car etc, or even work.
Why do the already wealthy need the lion’s share of proposed tax cuts? How could their lives improve with more disposable income?
At the lower end of the income scale, potential tax gains are small and through circumstance may not be available as meaningful relief for many.
More money in the hands of lower income people flows straight through the economy as there is pent up need to spend on basics. More money in the hands of the already wealthy by and large does not flow through the economy, but rather disappears into income producing vehicles like savings accounts, shares, bonds and the like, so is not stimulatory to the economy.
My views are not driven by wealth envy that you and @310843B use to dismiss … I am more driven by what I think should be fair and reasonable thinking.
On top of all this, America may well buckle under burgeoning national debt with the deficit increase needed to give the already wealthy more wealth … I guess bond markets will arbitrate over this.
