Tuesday, October 31, 2006

Tax cuts

Let's assume you are rich and as a result of the Republican "tax cuts for the rich" you had an extra $10,000.00. What would you do with it?

I figure that you would have one of three choices.

You could spend it. Let's assume you put an addition on your palacial estate that would spur jobs for the tradesmen and contractors all of which are notoriously middle class.

You could save it. Let's assume you put the money in the bank that would increase the amount of capital the bank would have thus lowering interest rates for middle class home owners.

You could donate it to charity. A wild one since we all know that rich people don't give to charity. But since you're not rich, you decide your tax cut would go to charity. what would be wrong with that.

In fact, what would be wrong with any of these uses?

Can anyone out there give me a good reason as too how a tax cut for the rich is a bad idea? If so please email me at gtvcpa@yahoo.com

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