Low income people got a $250 tax cut. High income people got $100k tax cut. Who needs the money more?
From the article - this part made me laugh:
Quote:
|
This is obvious to most people. It’s why we tax socially undesirable activities like smoking and drinking. It’s why we fine people for traffic violations. Similarly, when we tax income, people tend to have less of it — either from working less or spending their time, effort, and money on tax-avoidance schemes. JFK understood this, writing that “Middle and higher-income families are both consumers and investors — and the present rates not only check consumption but discourage investment, and encourage the diversion of funds and effort into activities aimed more at the avoidance of taxes than the efficient production of goods.”
|
The part in bold is laughable - can anyone honestly raise their hand and say that the tax rate is their only disincentive to working harder and making more money?