Search This Blog

Friday, August 20, 2010

Do 97% of Individuals Warrant the Same Tax Cut?

A recent Rasmussen survey asked people what income category they thought they belonged to ("The Working Poor" 8/14/10). The responses:

16% - working poor
65% - middle class
15% - upper middle class
4% - wealthy

Talk of extending the 2001-2003 tax cuts for lower income individuals covers about 97% of individuals (those with income below $250,000 if married and below$200,000 if not married). That's fairly close to the survey finding that 4% consider themselves wealthy. But why lump the other 97% all together for a tax cut? Why not target cuts more equitably? A married couple making over $80,000 is doing fairly well in this country. Why restore all of their 2001-2003 tax cut?

We need to reduce our deficit and giving continued tax cuts to high income individuals? Where is the talk of the fact that President Obama's $200,000 and $250,000 income levels are very high?

What do you think?

No comments: