Tax plan debate report - Democrats Opinion.
The republican released their proposed tax plan. Bush is trying to get the plan passed and placed in effect. This plan has a life span of ten years and is proposed to boost the economy. Boosting the economy is a great idea, but is the republican's tax proposal the way to go about it.
To boost the economy we need to put money in the hands of Americans that now are in economic hardship. Those Americans that need the money now are not spending. They are budgeting and making cuts in their personal budgets to provide necessities. Does someone with a high six to 7 figure income need help at this time? The answer to this question is no. Sure he or she may not be as rich as they were the year before, but have they had to put their budgets in a binder to survive. .
Bush's proposed tax plan will for the most part help those that have not noticed a severe personal budget cut. His tax plan is aimed at the wealthiest people that have a solid economic foundation, with job security. For the rest of the people the tax plan will add money, but money that may be needed to dig themselves out of a hole that was created by a failing economy. This money can easily disappear as quick as it was gained, leaving them in the same sinking economic boat. .
Bush's plan is aimed at creating new jobs, much needed jobs. He says if the people that provide the jobs, have more money they can create more jobs. More jobs are not necessarily created when businesses or business owners get richer. Jobs are created when there is a more demand for a company's product. This demand is not increased by more jobs, it is increase by more consumer spending. Bush's plan is working from top to bottom, rather than working from the bottom to the top.
The republican's plan is overall a hefty tax cut. This is of course is attributed to the aim of the tax plan; the wealthiest. Taxes are worked out in a percentage of earnings.