Interesting contradiction: Tax cuts (or rebates) for the middle and lower class are “good” because the beneficiaries of these cuts will spend this money and it will “stimulate the economy.”
At the same time, tax cuts for the “wealthy” are bad, even though tax cuts of this size will actually generate much more spending and investment in the economy.
Why is it economically bad to cut taxes for someone who makes $200,000 or $2 million per year, while it’s economically good to cut taxes for someone who makes much less?
Clearly, the answer is not economic. Clearly, the answer is ethical-moral. Our elected leaders feel it’s immoral to cut taxes for people who make more, while it’s moral to cut taxes for people who make less. They mask these moralistic conclusions in economic rationalizations.
Yet this raises the next question: Are people who make more money immoral, while people who make less money more moral? If so, why and how is this the case?
I’d love for politicians and members of the chattering class to have to explain this one. To date, nobody has even asked them this question.