50° Fresno, CA
The Student News Site of Fresno Christian High School

The Feather

The Student News Site of Fresno Christian High School

The Feather

The Student News Site of Fresno Christian High School

The Feather

Letter to the Editor
  • This field is for validation purposes and should be left unchanged.

Tax plan favors wealthy

As talk progresses of plans to stimulate the stagnant economy, President Bush has announced his system of plans, which centers on tax cuts.

It appears that the plan for the decrease in taxes favors high-income people, who will receive a percentage in tax reduction of their yearly income dramatically higher than the rest of the population.

People of the middle and lower classes will receive barely 1% of the total cut, and the lowest will receive at best a fraction of a percent.

There seems to be favoritism weaved into the plan.

This plan obviously favors the elite upper class. What seems odd is that the people who obviously need and will actually use the money get little to no break?the lowest two brackets get less than $100 yearly in the cut, being less than 0.5% of their income as reduction.

In fact, a person has to make at least $35,000 to get anything palpable, and the percentages increase little between brackets until the highest two.

At the present, even after taxes the richest quintile, which is slated to receive the highest cut, has an income much higher than all the other quintiles before taxes.

Not only that, but they will also be receiving a cut higher than the total income of everyone else.

Clearly the formulation of this plan has been to benefit the President’s close financial supporters, all of whom fall into the upper tiers of society.

It seems that Congress has noticed this, and many members of both parties have disowned this plan.

The plan brought forth by the President needs serious revision if it could be even remotely ethical to approve and instate.

Leave a Comment
More to Discover
Donate to The Feather

Comments (0)

All The Feather Picks Reader Picks Sort: Newest

Your email address will not be published. Required fields are marked *