40% of Americans don't pay taxes*, according to this article in the Washington Times (http://www.washingtontimes.com/news/2008/oct/13/obama-tax-cut-refunds-those-who-dont-pay/). How is he going to give tax cuts to people who don't pay taxes?
Also, I'd hardly say that big businesses get tax breaks, as America has the second highest corporate tax rate in the world. Source for that is here. (http://www.taxfoundation.org/blog/show/1471.html) Now, that's just an average figure, but still. If I owned a corporation, I wouldn't want to have my main workforce in America. More likely that I'll have to spend a lot of money on taxes. I'd rather have my workforce overseas, where there aren't such high taxes on corporations.
*Edit: My apologies. After looking further into the matter, I've discovered that this only refers to income taxes. Those 40%, however, do still pay taxes for Social Security and such. My new question is, how can he give those people a tax cut when Social Security, Medicare, and similar programs are things EVERYONE is supposed to be taxed on?
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Also, I'd hardly say that big businesses get tax breaks, as America has the second highest corporate tax rate in the world. Source for that is here. (http://www.taxfoundation.org/blog/show/1471.html) Now, that's just an average figure, but still. If I owned a corporation, I wouldn't want to have my main workforce in America. More likely that I'll have to spend a lot of money on taxes. I'd rather have my workforce overseas, where there aren't such high taxes on corporations.
*Edit: My apologies. After looking further into the matter, I've discovered that this only refers to income taxes. Those 40%, however, do still pay taxes for Social Security and such. My new question is, how can he give those people a tax cut when Social Security, Medicare, and similar programs are things EVERYONE is supposed to be taxed on?