Wednesday, February 6, 2008

Tax Cuts

I have a couple of thoughts on the tax cut proposals being made by the presidential candidates. First is if you want to do any major tax cuts they have to reduce taxes on the "rich". Why is that? Because they are the ones that pay the most taxes. When you think of all the phased out credits and deductions and the "progressive" tax rates they pay way more than the middle class.
My second thought is that if you want to put in place any permanent tax cut you must also cut spending. Contrary to Congess' belief you cant consistently spend more than you make. Novel concept I know. I would try to explain if further but if you cant grasp that concept perhaps you should run for congress.

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