Comment - That makes sense. A centerpiece of the proposal is that scheduled
income tax cuts will take effect sooner. The majority of the federal income
tax take is paid by the top ten percent of tax filers, so it's logical that
those who pay the most taxes will get the most benefit. Also, with an
increase in the deduction for children, big families will gain.
Around half of all federal filers pay no federal income tax (although they
still get socked by FICA). How do you cut income taxes for people who pay no
income tax?
I'm annoyed by reports about how much the tax cuts will "cost" the federal
government. How can it "cost" the government anything? It's our money, not
the government's. Grrr...
11:26:52 AM