What if the lower class got billionaire tax returns, middle class got millionaire tax returns, etc.
I hear so many people mouthing off saying this would improve the economy. Is there any proof that it would? Is this idea just foolish? I don’t study economics so I don’t know but I am interested.
This is only hypothetical
March 9th, 2010 at 9:25 pm
Um. Your tax return is where you write down how much income you’ve made, figure out what deductions you’re entitled to, and subtract the amount of tax you’ve had withheld during the year. How would you substitute one person’s return for another?
That makes about as much sense as saying “How about if a teacher did a lawyer’s job for the day, and a baker did a taxi driver’s job, and a plumber did a nanny’s job?”
March 9th, 2010 at 10:08 pm
That doesn’t make sense. That would be like the government pays the people. Where would the money come from?
March 9th, 2010 at 10:18 pm
it would not help the economy in the long term. the poor and the middle class would start quiting there jobs and they would spend the money on stupid material things and they would be broke again in a couple years. its like the lottery curse, people win the lottery are 33% more likely to commit suicide then the average person. also the average professional athlete or former hit actor/actress is broke 5 years after they leave their line of work.
side note: there are only about 5 million people with a net worth over a million and there are over 200 million people that are just middle class or less. there wouldn’t be enough checks to go around. If you split the tax returns of all of those millionaires and billionaires evenly between all the regular people the total would not be a life changing amount per person.