Re:A Year After the Middle Class Tax Cut, the Rich Are Winning
by dragonwriter on Saturday December 22, 2018 @07:14PM
(#18743390)
> Over 40 percent of Americans don't pay ANY Federal income tax.
> So, by natural law, doesn't any tax cut not benefit them?
Nope, consider a $1,000 refundable tax credit for anyone with under $5,000 AGI. Its a tax cut, and everyone who doesn't pay income tax because of low income plus some of the poorest who do are the only beneficiaries.
Re:A Year After the Middle Class Tax Cut, the Rich Are Winning
by eadmund on Saturday December 22, 2018 @07:28PM
(#18743476)
I think it's arguable that a tax credit is not a tax cut, precisely because it doesn't necessarily reduce taxes paid but rather can return money not paid.
> So, by natural law, doesn't any tax cut not benefit them?
Nope, consider a $1,000 refundable tax credit for anyone with under $5,000 AGI. Its a tax cut, and everyone who doesn't pay income tax because of low income plus some of the poorest who do are the only beneficiaries.