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Reply #34: Your argument contradicts the whole principle of progressive taxation. [View All]

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Unvanguard Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-02-11 04:03 PM
Response to Reply #31
34. Your argument contradicts the whole principle of progressive taxation.
Income taxes hit high incomes at higher rates, not just higher absolute amounts, than low incomes. Why? Because, even though 2% of a rich person's income is much more in dollar terms than 2% of a poor person's income, poor people need the money a whole lot more than rich people. So a blanket percentage tax cut for all people has progressive effects, i.e. it helps poor people more than rich people.

Now, I agree, that payroll tax cut would be better if it spent the same amount of money, but directed it more specifically at low-income families. That would both be better stimulus (because more of the money would be spent rather than saved) and better in terms of social justice (because it would mean that the money went to those who needed it most.) But the fact that there is a better option doesn't change the fact that the payroll tax cut is a real help both to our economy and to the working families whose income it supplements. And it also doesn't make it regressive, which it simply isn't.
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