General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDo we REALLY need a tax cut?
A GOP congressman said a family of 4 with a household income of $56K would pay ZERO income tax. That's pretty close to the median household income of $57,617 (2016). While I think it would be pretty tight for a family with 2 adults and 2 kids, I have to wonder if it's really a good thing to have almost half the households in the US not contributing ANY income tax. I realize there are some single folks and DINKS (double income no kids) would be paying, and some families with more than 2 children or lots of itemized deductions might have a higher gross income. And yes, I understand there are lots of other taxes that lower income folks, including myself.
This just tells me that those in the lower half don't need tax cuts, they need a RAISE. Not only would more households have more discretionary income (to put back into the economy) but more households would pay some income tax and have some skin in the game.
I don't know that we really need to be cutting taxes at all with a $20 Trillion national debt.
50 Shades Of Blue
(10,048 posts)Sailor65x1
(554 posts)I do! I've been paying too damn much for too damn long. But this silly tax bill screws me even more.
LiberalFighter
(51,094 posts)I'm not sure that the rest of us really need a tax cut either. For those still working what they need are better wages.
The taxes need to be used to pay off the debt. But it won't get paid off if they keep cutting taxes.