Question
provide a peer review to the answer of the following question tax cut is a debatable topic. Does it help or hurt the relatively poorer
provide a peer review to the answer of the following question
tax cut is a debatable topic. Does it help or hurt the relatively poorer segment of the population? You can take either side but make sure to substantiate your thought with references.
Most low income earners do not pay federal income taxes as their income is lower than the standard deduction. High income families pay a disproportionate share of the tax burden. People must realize that the high income earners pay more taxes because they make more money. This still doesn't take away the fact that the rich find legal ways to get "tax write-offs" which enables them to deduct business expenses towards their federal income tax. Tax reductions lessen the financial burden on individuals while increasing the national debt. Tax cuts only reduce government revenue and makes a budget deficit. However, a tax reduction on corporate tax increases profitability of its corporations and thus creates more job availability, specially for the poorer section of society. Therefore, this type of tax reduction benefits the lower income families.
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