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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (1772)	5/23/2003 8:55:18 PM
From: GraceZ	Read Replies (2) \| Respond to of 4912

The lower 20% doesn't pay income taxes for the most part. I've helped any number of low income people file their taxes and have been doing so for years. I have a tenant at my studio who makes $13,500/year sitting in a parking booth. We filed her taxes with a touch tone phone. She owed zero federal and about $400 in state (because she owed back taxes from when she worked at a higher paying job), she got all her witholding back except for her portion of social security. How do you give someone a tax break if they pay nothing in the first place? Besides you aren't "giving" the rich anything you are simply letting them keep more of what they produce in the first place. What matters most if you are trying to reduce the burden of tax on the US economy and consequently increase savings and investing is that you remove the tax burden on that group of people who spend their last dollar on investment and are employing their money in the most productive manner. Growing the economy makes everyone richer especially the lowest 20%.