Our tax rates were reduced. Oh, happy day!
I believe everyone should keep more of what they earn. Yes, I am a little guy when it comes to paying taxes and I expect in the real world this won’t mean much to me. You see, comparing me to Anderson Cooper on CNN, my tax dollars almost don’t matter. Giving a rich guy, like Cooper, a 3 percent tax reduction means the extra dollars in his pocket are proportionally much larger than the extra dollars in my pocket.
Some people say it is a tax break for the rich? Well, the richer you are the more dollars in federal income tax you pay. Look at the statistics of who pays income taxes! After all, Cooper, no doubt, is one of those individuals who pays a huge percentage of the total taxes collected and he should benefit from a rate reduction. I say, way to go Cooper! I am happy for you.
Now the corporation rate is decreasing, too. Good for them! I also love companies, regardless of form, that make money. Profit is good. Profit results in taxes to build schools, employ people, pay dividends to investors, etc. Corporate profits paid my salary at times over the years. I view profit and corporations as good things ... both of them.
Here is one little guy thrilled with the reduction in tax rates — so happy I am grinning from ear-to-ear!