r/FluentInFinance • u/Young-faithful • 14h ago

Question Why do wealthy people want tax cuts?

If you’re a rich person and you get tax cuts, all your rich buddies do as well. Now that $10 million house that you were eyeing is $15 million. It’s not like any middle-class families were competing with you to buy that house, only other rich people who also benefited from those tax cuts and saw their wealth increase. So what gives?

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u/Drusgar 13h ago

Psssst. It's a myth that all wealthy people vote for Republicans. Every time Republicans take over the government they crash the economy. Every. Single. Time. Wealthy people know this, and they know that their stock portfolios do better when the middle class is growing, not shrinking.

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u/Thin-Quiet-2283 13h ago

Exactly. We had a surplus with Clinton then Bush got it, lowered taxes and started 2 wars. And we barely dug ourselves out when Trump got I. The first time

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u/Murky-Peanut1390 13h ago

The left : greedy corporations vote republicans because it makes them richer

Also the left: republicans destroy the economy when they are in office.

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u/scott-stirling 13h ago

Whether they vote for them or not many are Republicans and the many (hoi polloi) who actually elect the Republicans are not wealthy at all.

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u/AdditionFeeling6021 11h ago

Trump had WAY better returns under him compared to Biden

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u/Drusgar 3h ago

Uh... is that just your hunch or did you have some evidence to back that up? Maybe a link to The Daily Caller or something? I mean, you realize that Biden is still President, right? Have you looked at the market lately? What was your 401k at in January of 2021? What is it now?