I was watching the news. Evidently Bush is passing a tax cut for 70Billion dollars through the House and may pass the Senate today.
The Republicans are touting it as a victory. I am just confused on why we are cutting taxes when the government is spending an ever increasing amount on military and “Homeland Security” so this means the government has to borrow more?
In addition how can any normal person think this is good. Here is the breakdown.
If you make $1,000,000 a year, the tax saves you $43,000
If you make $50,000 it saves you $43
So once again its a tax cut for the rich. They always say that if you cut taxes it allows people to spend more on the economy. I don’t necessarily doubt this, except to say that if you tax cut on the rich, it wont increase the economy as much as if you tax cut $70 Billion off the poor.
The rich already don’t have to spend all their money monthly. There is no guarantee that they will spend all their money on “investing into the economy”. However, if you cut $70 Billion off the poor and middle class (up to 50,000, if you make more then 50,000 your not middle class) then they will end up spending ALL of that money back into the economy, considering they don’t have all this extra money to stash, they need all the money and they need to spend it.
It just seems another “for the rich” issue.
Fuck I really want to move out of this piece of shit country. Sad part is, I actually do love the Country, I fucking hate our rich elite government. However, I am not seeing how any changes are really going to occur, unless its our government bankrupting itself.