Hobbit
Senior Member
Big Blue Machin said:
The tax breaks actually got better in lower income levels. The lower the bracket you were in, the better the rate decrease, except for the bottom bracket, which doesn't pay taxes. Also, the income caps for each bracket were increased, allowing people to shift down a bracket, even if they didn't make much. Even with that, the tiniest tax break for the upper bracket will give, say, Bill Gates, hundreds of thousands, if not millions of dollars in tax breaks, while you and I don't even make that much money, much less pay it in taxes.
Also, what you have to remember is that tax breaks for any class ultimately helps everyone. The bigger the break, the more help there is, meaning giving a tax break to the rich produces the best result of any bracket, and giving them all around, as was done, produces an even better result, since that adds even more money to the break. The reason for this is that, when people get a tax break, that money is spent. The rich spend this money creating new jobs and raising pay, as well as what the lower and middle class do, which is spend it on products, which gets money back to the rich, which makes new jobs. For a negative example of how this works, consider the following: Clinton enacted a luxury tax. The luxury tax incovenienced a few rich people, but many lower class people lost their jobs, because the rich were no longer buying what they made.
