Jlallen I hate to be the bearer of bad news, but with respect to your statement that:
>>"The tax break for the rich stuff is pure crapola....I'm not rich, I got a break.....and I love it.....whatever it was...its better than the alternative....,"<<
you just got fleeced. Here's how it works:
1. The cost of government will be paid.
2. The cost of government is going waaaayyyyy up under this administration and, in particular, as a result of the invasion and occupation of Iraq.
3. The payment for that expense is being DEFERRRED, through government borrowing to be repaid in the future.
4. All of America will participate in PAYING THAT DEBT.
5. The share of middle America for that COST, went UP as a result of the "TAX CUT."
6. The share of the wealthiest Americans for that cost, went DOWN as a result of the tax cut.
7. The money you got this year did not represent a tax savings for you, it was borrowed money.
A lot more money was borrowed than the pittance you got. Guess who will pay for the "rebate" you got? Any idea? I'll give you a hint-you will.
That's not the worst of it; you'll also pay back a large portion of the "tax cut" the wealthy got. You do understand that don't you?
It's very simple. Assume the government spent 100, raised 100 in taxes, and your share was 10 last year.
Assume this year the government spent 200, raised 100 in taxes and borrowed 100. Now your share of THIS YEARS GOVERNEMENT should be 20+ the interest, right. You'd pay 10 now and owe the 10 plus interest later.
But wait, the government changed the tax laws to reallocate the burden from the wealthy to you in the middle class. Your share of the 200 went to 30, but it don't matter! The government borrowed a little more so it could give you back 2. It feels like you only paid 8, right?
The truth is you will pay all of your share and a portion of the share that used to be paid by the wealthy.
When the expense of government increases and your share of the percentage of the government's spending increases, there is no "tax cut." It's only an INCREASE for you disguised as a "cut" through the smoke and mirrors of "borrowing."
If you are among the top 1% wealthiest Americans, and especially if you are among the top .01% of Americans, then you are right and you did actually receive a tax break. If not, you've been duped and they're laughing at your sense of having gotten something.
Do the math. |
