A Tax Cut Question
How can tax cuts bring prosperity and jobs, when the Bush tax cuts brought us the great recession? Answer me!
Then when a flat-tax is proposed, it is incredibly unfair. If a CEO makes $100 million and s/he had to pay 10% s/he would still have $90 million. If s/he had to pay 90% s/he would still have $10 million. If someone made $22,000 and was taxed 10%, that person would have only $19,800 to live on. That income is just too much to die from and not enough to live on. We have had a regressive tax system designed to make the rich richer and the poor poorer.
When the rich do not pay taxes then the government has to borrow the money from them in the debt and then the government starts paying the rich by having to pay the interest on the debt that it owes them. If this is the case then the government pays interest to the rich, while the poor and middle class pay taxes. Now it is necessary to analyze whom the government is indebted to in order to determine the veracity of this claim. Of course, our government could be beholden to China and it could be that our government is paying China for its debt service.
Back to the Bush tax cuts: were they really used in the stock market speculation, which created a bubble after which trillions of dollars was lost in our common-wealth?
It may well be provable that tax increases improve businesses and the economy, just like pruning trees takes away wild growth and makes the trees bear more fruit.