Why didnt the title say that? Why did it make it sound like the poor and middle class will be the only group subjected to this tax?
Why just poor and middle that would be hurt? I thought the rich class hate taxes too?
Taxes sucks, but we have to pay as long as it is needed.
Good questions. I didn't make up the title. However, the fact remains that when you lower the standard of living for everyone, it's the middle class and the poor that are impacted the most.
Suppose, for the sake of argument, this bill lowers the standard of living for everyone by 25%. For the super rich (the yaught and private plane types), that might mean getting a smaller yaught or holding onto their old private jet longer. Perhaps they'll have to fire their butler. Certainly they don't enjoy that, but they'll still live comfortably.
For the regular rich, they're mostly just people who have worked hard all their lives and finally reached a point in their careers where they can be considered successful. I'd hate to see bad legislation take away what they had worked so hard to earn. But they'll still be fine.
Now consider the middle class. Take away 25% of their standard of living and what does that mean? They might have to move back into an apartment, get a smaller house, or sell a car. For lower middle class, it might push them into poverty.
Now for the poor. The poor especially can't afford to give up 25% of their standard of living. That could push them into extreme poverty.
Yes, taxes are necessary, but this one is not. It's just another burden to an already suffering economy. $2.5 trillion is far more than the federal government needs to fulfill its constitutional duties. We don't need to add to that.