Are Tax Cuts Good or Bad?
When Republicans complain about all the people who aren't paying federal income taxes, and they've been doing this a lot lately, I get confused. And that confusion extends beyond the obvious fact that almost everyone who is employed pays payroll and other taxes so the charge that they don't pay any taxes is misleading.
I thought Republicans liked tax cuts, and the more the merrier. If taxes were zero on, say, capital gains or dividend payments, would they be whining and complaining? I don't think so. If inheritance taxes were cut to zero, would there be an uproar? We know there wouldn't be, Republicans want these taxes to be zero. But when income taxes on the poorest among us are zero -- and not all taxes, these workers pay plenty in payroll taxes, sales taxes, and the like, just federal income taxes -- they get quite upset.
Posted by Mark Thoma on Monday, May 3, 2010 at 03:42 PM in Economics, Politics, Taxes |
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