Re: Bush tax cuts: the (sad) truth.
by
LeoB
01/29/2008, 12:36 PM
I should
have noticed that a single-digit percent refund would not return 1/3rd
of your income. Honest mistake, thanks for the catch.
So if someone making $12K/yr is living in poverty, why are we taxing them any amount while giving huge tax relief to Bill Gates?
Of course, I think we should have a flat tax with no deductions except a personal deduction that is pegged at the poverty line ($12K would not be a bad figure). Of course, the home mortgage interest would have be fazed out over some period or the fallout would be worse than the current sub-prime fiasco that was created by this administration (it is in another Slate article).