Moody's chief economist and former McCain economic advisor Zandi explains to Blitzer that GOP plan to limit tax cut to income taxpayers would "reduce the effectiveness of a tax cut"
February 06, 2009 6:36 pm ET
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Let's not forget that lower income individuals do pay payroll taxes, sales taxes, state taxes, etc.
Correct me if I'm wrong, but I believe many individuals and families who are middle class, or close to middle class, pay more in payroll taxes (social security and medicare) than income taxes.
Payroll taxes conveniently stop at around $90,000 so the Wall Street titans who got us into this mess, drug dealers and the super-rich don't get hit too hard.
I've seen it myself, folks who are truly down and out, buying cigs and Old English 800 with plastic bags of change, guess what? Also paying taxes on cigs and booze.
These guys and mols are so down and out they don't even know how to get the aid they qualify for unless some idiot like me shows them, which I try to do.